Why Bozoma Saint John is leaving Uber for Endeavor

Earlier today, news broke that Bozoma Saint John is leaving her position as chief brand officer at Uber to head over to Endeavor. At Endeavor, an entertainment industry behemoth, Saint John will serve as chief marketing officer, working across all of Endeavor’s portfolio companies, which includes William Morris Endeavor and IMG.

I had the chance to catch up with Saint John for a little bit over the phone to learn more about why she left. For starters, “nothing horrible or terrible happened,” she told me in response to a question about if something bad caused her to leave. “I am very thankful for that because we’ve had enough of those stories. We don’t want any more of that.”

Now that we’ve gotten that out of the way, Saint John told me she wasn’t looking to leave Uber. Instead, Endeavor reached out to her and she didn’t want to pass up this opportunity to change the narrative around diversity and inclusion.

“Sometimes people think [pop culture] is superficial,” she told me. “These are where the stories that are being told are created. If we can help influence that, then that’s so much better for the entire narrative of what we need to get across.”

What we need to get across, she said, is “all the deep stuff,” like diversity, inclusion and sexual harassment.

“These are all pop culture issues,” she said. “It’s like, how can all of those things work in concert to make sure the narrative is told in a way that is powerful.”

While Saint John felt the work she was doing at Uber was important, there were other things Uber needed to take care of before she could be most impactful, she said. For example, Uber still has work to do around corporate culture, she said. As you all may remember, Uber had a horrific 2017, with reports of sexual harassment, mismanagement and an overall toxic culture. While Uber has taken some steps in the right direction, there is still work to be done, Saint John said.

“I’m not saying the corporate culture has righted itself 100 percent,” she said. “Or it’s where it needs to be today. It isn’t. There’s still a lot to be done in that regard.”

She went on to say that she never wanted to use Uber’s small wins around human resources and culture as marketing. Instead, it needed to be done because it was the right thing to do — not just to make Uber look good. Unfortunately, that left Saint John with “a huge gaping hole,” she said.

At Uber, Saint John said she had some personal work wins — like the partnership with LeBron James and Kevin Durant. She pointed to how powerful it was when James spoke about being a black man in America.

“I do feel very good about the stuff I was able to do there, but I know I’ll be able to do much more impactful work right now at Endeavor,” Saint John said.

As CMO at Endeavor, Saint John said she envisions being able to impact storytelling in a new type of way. And as industries, including Hollywood, battle with issues around sexual harassment and toxic work environments, Saint John said she wants to be part of crafting the solution — whether or not it’s part of her job.

“Unfair or not — as a black woman, as you know — when you’re in the job, it doesn’t matter what job you’re doing,” she said. “You are sometimes forcibly in the center of the conversation and sometimes, unfairly, given the reigns to fix it, quote un quote. So while I don’t feel the responsibility of actually doing that job — because there are people whose job that is — I do still feel the responsibility of contributing and creating solutions for the company I’m in and the industry for which I work, which is Hollywood.”


Source: Tech Crunch

U.S. podcast ad revenues hit record $314 million in 2017

The U.S. podcasting industry had a record year in 2017, reaching $314 million in revenue – a figure that’s up 86 percent from the $169 million in 2016, according to new study out this morning from the Interactive Advertising Bureau (IAB) and jointly conducted by IAB and PwC U.S.

The firms are also estimating podcast revenue will see triple-digit 110 percent growth between 2017 and 2020, when revenues will then reach $659 million.

The study also examined what sort of podcasts were benefiting the most from the increased interest in the audio format, as well as what sort of advertisements were preferred.

As you may have guessed (if you spend any time listening to podcasts), host-read ads were the more heavily used ad type, accounting for a whopping two-thirds of all ads in 2017.

Direct response ads transacted on a cost per thousand basis made up the majority of the campaigns, followed by brand awareness ads at 29 percent.

In terms of placement, ads that were inserted or edited into programming accounted for 58 percent of the ad inventory last year, the report also found.

Top advertisers included financial services (18% share of ads), direct-to-consumer retailers (16%), and arts and entertainment (13% of all ads).

However, certain types of podcasts are doing better than others when in comes to raking in the ad dollars.

In fact, the top four content genres, out of the 14 measured, generated over half the advertising revenue in 2017. These were: Arts & Entertainment (17%), Technology (15%), News/Politics/Current Events (13%), and Business (11%).

IAB has particular insight into the podcasting market, thanks to member companies like Audioboom, Authentic, ESPN Radio, Gimlet Media, How Stuff Works, Market Enginuity, Midroll Media, National Public Media, Panoply, Podcast One, PMM, Turner Podcast Network, Westwood One, WNYC Studios, and Wondery, who underwrote the industry study.

And in case you’re suspicious that an ad bureau claiming ads are doing great, the numbers here back up other industry reports confirming the podcast explosion. Nielsen, for example, claims that half of U.S. households listen to podcasts now, including big consumer groups – like beer buyers or new parents – who advertisers want to target.

ComScore, meanwhile, claims 1 in 5 Americans aged 18-49 listen to podcasts at least once per month.

And podcast startups are benefitting from the increased consumer interest in the format, as well. Wondery, for instance, raised $5 million earlier this year from Greycroft, Lerer Hippeau Ventures and Shari Redstone’s Advancit Capital. At the time of the raise, IAB was forecasting $220 million in podcast ad revenue.

HowStuffWorks also raised $15 million last year, as did Gimlet Media; radio broadcaster Entercom bought 45 percent of podcast producer and network, Dgital Media, home to “Pod Save America.” Podcast platform Anchor raised $10 million in 2017, podcast platform Art19 raised $7.5 million, and, this spring, Castbox raised $13.5 million for its podcast app.

Investors wouldn’t be throwing money at the business if there wasn’t potential for more money to be made. And to some extent, those increased opportunities to reach consumers via audio are attributed to the changes in how we listen to audio content – that is, on mobile devices instead of radio, and on smart speakers in the home.

PwC also credits smart speakers and mobile as contributing to the opportunity here.

“The growing trend toward ‘anywhere and everywhere’ media engagement has created tremendous opportunity for digital media, of which podcasting is a significant component,” said David Silverman, a Partner at PwC U.S.m in a statement about the new report. “Whether at home on a smart speaker, at work on a PC, or somewhere in between on a mobile device, more and more Americans are listening while they live, providing a robust podcast platform where advertisers can connect with today’s consumers,” he said.


Source: Tech Crunch

Now Snapchat lets you unsend messages like Faceboook promised

Mark Zuckerberg’s Facebook messages were retracted from the inboxes of some users, six sources told TechCrunch in April. Facebook quickly tried to normalize that breach of trust by claiming it would give everyone the ability to unsend messages in the coming months. We haven’t heard a word about it since, and Facebook told me it had nothing more to share here today.

Well Snap is stepping up. Snapchat will let you retract your risque, embarassing, or incriminating messages thanks to a new feature called Clear Chats that’s rolling out globally over the next few weeks.

Hold down on a text, image, video, memory, sticker, or audio note in a one-on-one or group chat Snapchat message thread and you’ll see a Delete button. Tap it, and Snapchat will try to retract the message, though it admits it won’t always work if the recipient lacks an internet connection or updated version of the app. The recipient will also be notified…something Facebook didn’t do in the case of Zuckerberg’s messages.

The Clear Chats feature could make people more comfortable sending sensitive information over Snapchat. The app already auto-deletes messages after they’re viewed unless a recipient chooses to screenshot or Save them, which their conversation partner can see. This could be especially useful for thwarting cases of revenge porn, where hackers or jilted ex-lovers expose someone’s nude images.

Unfortunately, the Clear Chats option could also be used to send then retract abusive messages, destroying the paper trail. Social media evidence is increasingly being used in divorce and custody battles, which an unsend feature might undermine…especially if Facebook goes through with rolling it out on its platform where messages are normally permanent. But right now, Snapchat’s priority is doing whatever it can to boost usage after hitting its slowest growth rate ever last quarter. If teens feel like Snapchat is a consequence-free place to message, whether or not that’s true, they might favor it over SMS and other social apps.

More Snapchat Spectacles And Ecommerce News

Snap made a few other announcements today. Spectacles v2, which are actually pretty great and I continue use, are now available for purchase through Amazon in the U.S., U.K, and Canada. The $150 photo- and video-recording sunglasses come to more European countries via Jeff Bezos soon, such as France, Germany, Italy, and Spain. Amazon will sell Spectacles in three color combos: Onyx Moonlight, Sapphire Twilight, & Ruby Daybreak.

Until now, you could only buy v2 on Snap’s website. That’s because Snapchat’s eagerness to develop a bevy of sales channels made it very tough to forecast demand for its lackluster v1 Spectacles. They only sold 220,000. That led to hundreds of thousands of pairs gathering dust unsold in warehouses, and Snapchat taking an embarrassing $40 million write-off.

“We had an inventory challenge with v1” Snap’s VP of hardware Mike Randall told me in April. “We don’t think it was a product issue. It was an internal understanding our demand issue vs a planning issue. So we think by having a more simplistic channel strategy with v2 we can more thoughtfully manage demand with v2 vs v1.” Working with Amazon and its robust toolset should help Snap get Spectacles in front of more buyers without obscuring how many it should be manufacturing.

Still, the worst thing about Spectacles is Snapchat. The inability to dump footage directly to your phone’s camera roll, and the incompatibility of its round media format with other social networks means it’s tough to share your Spetacles content anywhere else while making it look good. Snap has experimented with a traditional landscape export format, but that hasn’t rolled out. Spetacles could strongly benefit from Snap partnering with fellow apps or open sourcing to let others show its circular always-full-screen format in all its glory.

Finally, Snapchat is launching a new ecommerce ad unit that shows a carousel of purchaseable items at the bottom of the screen that users can tap to buy without leaving the Snapchat app. This follows our prediction that Snap launching its own in-app merch store was really the foundation of a bigger ecommerce platform that’s now rolling out.

Merchants can use the Snap Pixel to measure how their ads lead to sales. The ability to shave down the ecommerce conversion funnel could get advertisers spending more on Snapchat when it could use the dollars. Last quarter it lost $385 million and missed its revenue target by $14 million.

Snapchat is also bringing its augmented reality advertisements to its self-serve ad buying tool. They’re sold on an effective CPM basis for $8 to $20 depending on targeting. Snapchat is also turning its new multiplayer game filters called Snappables into ads.

Overall, it’s good to see Snapchat iterating across its software, hardware, and business units. Plagued by executive departures, fierce competition from Facebook, a rough recent earnings report, and share price troubles, it’s easy to imagine the team getting distracted. The long-term roadmap is fuzzy. With Stories becoming more popular elsewhere, Spectacles sales not being enough to right the ship, and Instagram preparing to launch a long-form video hub that competes with Snapchat Discover, Snap needs to figure out its identity. Perhaps that will hinge on some flashy new feature that captures the imagination of the youth. But otherwise, it must lock in for a long-haul of efficient and methodical improvement. If it’s not growing, the best it can do is hold on to its core audience and squeeze as many dollars out of them as possible without looking desperate.


Source: Tech Crunch

Only two days left to apply to Startup Battlefield at Disrupt SF ’18

“Time Is on My Side” may be true for the Rolling Stones (seriously, Mick and the boys have defied time), but we’re here to tell you that time is most definitely not on your side if you want to compete in Startup Battlefield at Disrupt San Francisco 2018, which takes place September 5-7.

You have a mere two days left before the application window to Startup Battlefield — and your shot at winning $100,000 — slams shut. Drop whatever you’re doing and apply to Startup Battlefield right now.

Startup Battlefield is one of the tech industry’s leading startup pitch competitions and, without a doubt, it’s the best launching pad for early-stage startups. If you want to introduce your pre-Series A company to the world, attract investor interest and receive intense media coverage, Startup Battlefield delivers the goods.

True fact. Even if you don’t win, merely competing in Startup Battlefield can have a profound effect on your business. Don’t just take our word for it. Consider Riminder, an AI-based recruitment service, that participated in Disrupt NY 2017 but did not make the final cut. Don’t shed any tears, because the company just received a round of funding totaling $2.3 million.

The Startup Battlefield vetting process is highly competitive. Our discerning team of editors reviews each application and accepts between 15-30 startups to compete in the first round. The acceptance rate ranges from three to six percent.

The Startup Battlefield takes place live in front of an audience of thousands, including the aforementioned investors and media. It’s your time to shine. Don’t worry though, each team receives expert pitch coaching from seasoned TechCrunch editors. You’ll be ready to step onto the Disrupt Main Stage and knock the socks off our panel of judges, which consists of notable tech and VC industry experts.

Those judges will select approximately five teams to move to the finals and a second round of pitching. From that select cohort comes the grand-prize winner to claim bragging rights, the Disrupt cup and, yes, our biggest equity-free cash award ever: $100,000. Someone has to win the $100,000 prize, and it might very well be your company.

Let’s take a minute to talk about other benefits of competing in Startup Battlefield. Applying and participating doesn’t cost you a thing, and each team gets to exhibit in Startup Alley for all three days of the conference — for free. The Alley’s where you’ll join more than 1,200 early-stage startups showcasing their very best tech, products and talent. It’s one of the most inspiring networking opportunities going.

Compete in the Battlefield, and you also join the Startup Battlefield alumni community — which consists of more than 800 companies and has collectively raised more than $8 billion in funding and produced more than 100 exits. That’s another magical networking community. You might recognize a few names, like Mint, Dropbox, Yammer, Fitbit, Getaround and Cloudflare.

Disrupt San Francisco 2018 takes place on September 5-7 at Moscone Center West. You have 48 hours left to apply. You are not Mick Jagger. Time is not on your side. Apply to Startup Battlefield today.


Source: Tech Crunch

Uber’s chief brand officer, Bozoma Saint John, is leaving

Bozoma Saint John is leaving Uber for entertainment company Endeavor, Recode first reported. Saint John’s employment at Uber came in the midst of the company’s scandals around sexual harassment, management issues and toxic culture.

“I want to thank Boz for her contributions over the last year,” Uber CEO Dara Khosrowshahi told TechCrunch in an emailed statement. “Boz joined Uber at a time when the company was hurting—but her energy, optimism and creativity have been a key part of our ongoing turnaround. Endeavor is lucky to have her, and I’m excited to watch her work in her new role.”

At Endeavor, Saint John will serve as chief marketing officer. Endeavor is the entertainment company behemoth that consists of William Morris Endeavor, IMG, UFC and others.

“Boz’s strong creative vision has the power to create cultural moments that are transformative for brands,” Endeavor CEO Ariel Emanuel said in a statement. “We’re excited for what it means when her vision comes face-to-face with our client roster and portfolio of brands who are shaping the cultural conversation around the world every day.”

Before joining Uber, Saint John made a name for herself at Apple, where she led the company’s global consumer marketing division for Apple Music and iTunes. Saint John joined Beats Electronics only a few months before Apple bought the company for $3 billion.

Before that, she spent several years at PepsiCo doing music and entertainment marketing. But it wasn’t until Apple’s Worldwide Developers Conference in 2016 when the masses began to understand her talent.

*An earlier version of this story stated Saint John has already left Uber, but she has not yet had her official last day.


Source: Tech Crunch

Korean crypto exchange Coinrail loses over $40M in tokens following a hack

Another day, another crypto hack. This time it’s Korea, the crypto-mad Asian country, where an exchange called Coinrail lost more than $40 million in altcoins, ICO-issued tokens that aren’t bitcoin or Ethereum, after it was hit by an apparent attack over the weekend.

Korea may be a hot spot for crypto investment, but Coinrail is one of its smaller exchanges, just about ranking inside the world’s top 90 based on trading volume, according to coinmarketcap.com. Nonetheless, even the smaller exchanges have plenty of coins, as the size of this heist illustrates.

Most notably, the hackers got away with $19.5 million-worth of NPXS tokens that were issued by payment project Pundi X’s ICO. Added to that they scored a further $13.8 million from Aston X, an ICO project building a platform to decentralize documents, $5.8 million in tokens for Dent, a mobile data ICO, and over $1.1 million Tron, a much-hyped project originating from China.

That’s according to a wallet address that has been identified as belonging to the alleged attacker, who also got hold of smaller volumes of a further five tokens from Coinrail.

In all the cases, the companies issuing the tokens themselves were not hacked, the tokens that were nabbed belong to Coinrail users.

It isn’t clear how, or indeed whether, Coinrail will go about compensating its customers — Japan’s Coincheck refunded its customers following a high-profile attack earlier this year — but some of the ICO projects are taking steps in response.

Pundi was hit the hardest, claiming that some three percent of its total volume of tokens was impacted by this attack. It said it has frozen the tokens that were stolen and it has ceased trading of its tokens across all exchanges to help with the post-attack investigation, which it said includes the Korean police. NPER, which had around $860,000-worth of tokens taken from Coinrail, said it had frozen the stolen funds and it plans incinerate the tokens to render them useless to the hacker. Aston has also frozen its affected tokens, according to Coinrail.

Other projects have yet to comment, although Coinrail said in a statement on its website that two-thirds of the stolen tokens have been frozen with more action likely to happen.

Coinrail took its service offline and it said in a statement that it has moved the remainder of its assets — which it said is 70 percent of its total holdings — to cold storage while it reviews its security system and fully investigates the incident.

Some have suggested that the hack was responsible for bitcoin’s valuation dropping by over five percent in what is the cryptocurrency’s biggest decline for two weeks. However, Coinrail is so obscure that this theory seems unlikely.

What is for certain is that the hack serves as another strong reminder that the space remains unregulated — there’s with little recourse for victims of a crypto exchange hack, unlike say a bank robbery or payment fraud. More importantly, those who do buy bitcoin, Ethereum or other crypto tokens should keep their tokens securely in a private wallet (ideally using a hardware device for access) rather than leaving them within an exchange where they could be stolen.

For those of you keeping score on recent hacks on exchanges, here are a few: Coincheck lost an estimated $400 million earlier this year, last November saw Tether claim it lose $31 million following an attack while EtherDelta suspended its exchange service for a period in December after it was compromised.

The Mt. Gox hacking in 2014 is the mother of all crypto attacks, of course. In total the exchange lost around 744,408 BTC. That was worth around $350 million at the time, but today a holding of that size would be valued at some $5.3 billion.

Note: The author owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.


Source: Tech Crunch

The largest buys of tech’s Big Five: a look at M&A deals

In startup land, the mandate is to get bought, go public or die trying.

And, as far as getting bought goes, one of tech’s Big Five could be a desirable acquirer. They have a lot of weight to throw around. Alphabet (the parent company of Google), AmazonAppleFacebook and Microsoft account for a titanic amount of market value — close to $3.9 trillion at time of writing. At least, that’s according to Crunchbase News’s dashboard of notable tech stocks.

When challenged by one another, these hulking behemoths of the tech sector more often fight than flee. And when challenged by a scrappy upstart, it is likely that they will gobble up the talent, technology and business of any aspiring competitor. It’s the circle of life.

And it’s those acquisitions we’re going to look at here.

Taken together, tech’s Big Five account for a relatively small portion of the overall M&A market. The chart below shows the number of acquisitions made by members of tech’s Big Five from 2007 through 2017. (For reference, Crunchbase records thousands of acquisitions per year.)

But what the Big Five lack in quantity is made up for in size. If you’ll forgive the big-game pun, acquisitions by Big Five account for a lion’s share of big deals in dollar terms.

So, for each of the Big Five, let’s see just how big some of those deals got. We base our analysis on Crunchbase data that, whenever possible, has been cross-checked with public news sources and regulatory filings. We’ll proceed from the most valuable (in market capitalization terms) to the least.

Apple

Despite being the most valuable among the Big Five, Apple’s acquisitions are not just among the smallest of the bunch, but also the least disclosed. In other words, out of the deals listed in Crunchbase and elsewhere, most of them don’t have dollar values attached to them. This may speak to Apple’s secretiveness and its tendency to build most of its products and services in-house.

Apple’s biggest M&A deal to date was its $3 billion buyout of Beats Electronics, which is perhaps best known for its flashy wireless headphones. But it’s not the headphones that caught Apple’s eye. Rather, it was its streaming service, which Apple CEO Tim Cook told ReCode’s Peter Kafka was “the first subscription service that really got it right.”

Including the Beats deal, here are the largest M&A deals we were able to find.

Amazon

It’s hard to find a business vertical Amazon isn’t somehow involved in. Web hosting? Check. White-labeled staples like batteries and paper towels? Check. Doorbells? Check. They apparently sell books online, too.

Now, in all seriousness, Amazon’s $13.7 billion buyout of Whole Foods in June 2017 brought the online shopping giant squarely into the world of brick-and-mortar retail as well. And while the Whole Foods deal was Amazon’s biggest splurge to date, it’s certainly not alone in the company’s collection of commerce company buys. These include Amazon’s buyout of Quidsi (the parent company of Diapers.com and Soap.com, which was the first to offer the free two-day shipping for which Amazon Prime is famous), footwear and clothing retailer Zappos, and Middle Eastern e-commerce site Souq.com.

Alphabet

Of tech’s big five, Alphabet is the most acquisitive, and it makes the most corporate venture investments. It’s also the company with the most complicated corporate structure. Recall that Alphabet is the parent organization of Google, and it’s Google which has made the surpassing majority of Alphabet acquisitions.

But for all the resources Alphabet has put toward M&A, its acquisitiveness resulted in a rather mixed bag of results. Most glaring amongst its duds is its $3.2 billion buyout of Nest Labs and, relatedly, the $555 million spent on Dropcam (which would later be rebranded as part of Nest’s home security offering).

Nest reportedly failed to meet revenue expectations and seize a dominant position in the connected home market, ceding ground to incumbents like Honeywell. And there are plenty of scrappy upstarts nipping Nest’s heels in markets like home security, smart doorbells and smart locks.

This being said, then-Google’s YouTube deal is likely Alphabet’s best acquisition from an ROI perspective. Although Alphabet doesn’t break out YouTube’s revenue, some good estimates and public market comps suggest the video streaming unit could be worth a cool $100 billion.

Microsoft

Microsoft made news this week by announcing its acquisition of software version control and code hosting platform GitHub for $7.5 billion. And, at this point, it seems like Microsoft is timing announcements of its biggest deals just to dunk on Apple. Myke Hurley, a tech podcaster and the founder of Relay FM, observed on Twitter that Microsoft’s 2016 acquisition of LinkedIn and its GitHub deal were both announced on the opening day of Apple’s Worldwide Developers Conference.

Apart from cheeky timing, you will notice that Microsoft has made the largest M&A deals among tech’s Big Five.

Facebook

Of the Big Five companies in tech, Facebook’s M&A patterns seem to be the most binary. Its deals are either tiny or humongous. There isn’t much of a middle ground.

Some of Facebook’s biggest acquisitions present a case study of acquiring one’s way to nearly insurmountable market dominance. Although its acquisitions of Instagram and WhatsApp didn’t cause much of a stir at the time, today these deals are seen as a cautionary case for current and future antitrust regulators.

On a brighter note, though, Facebook’s M&A record is also a lesson in the “buy versus build” dilemma many companies face. It’s sometimes more expedient to buy a company (and, critically, its engineering team) than to build new features from scratch. For many of the smaller deals listed here, we can see that Facebook opted to buy.

The Big Five’s acquisitions in perspective

At the very top of the tech food chain, the Big Five are in a unique position, and not just as rainmakers for VCs seeking liquidity.

Alphabet, Amazon, Apple, Facebook and Microsoft are some of the most powerful companies operating today, and their acquisitions tell part of the story of how they got to prominent positions in the first place.

Although some acquisitions appear to come out of the blue, it’s important to remember that one doesn’t just buy a company for the heck of it. There’s a strategic motivation for these deals at the time they’re made. And when these deals are struck, they can telegraph the company’s future plans.


Source: Tech Crunch

The piggyback problem

I wanted to write about scooter startups this week, but, alas, I failed to care enough about them to muster any opinion at all. The problem is that they are pure piggyback startups, and pure piggyback startups are boring because they have no chance of being genuinely transformative.

Let me explain. Many, or even most, successful tech startups / movements succeed because they manage to piggyback on existing infrastructure. This is so painfully obvious it’s almost a truism, where the infrastructure is “the Internet” or “smartphones” — but there are other kinds, too. In its early days, Amazon was a pure piggyback startup, relying on UPS/FedEx/postal infrastructure. Similarly, the scooter startups are obviously reliant on existing city infrastructure.

Hollywood movies follow a three-act structure, and so do transformative tech startups and movements. Act I almost always consists of piggybacking on pre-existing infrastructure. In Act II, they build / evolve their own new, custom core infrastructure. And in Act III, their new platform begins to supplant and obsolete existing / establishment infrastructure.

Consider Amazon, who have evolved their own infrastructure in the form of gargantuan and increasingly automated fulfillment centers — Act II — and are now reportedly launching its own delivery service, while decimating shopping malls — Act III. (Though it’s true that the so-called “retail apocalypse” is more complicated than that. ) Consider Uber and Lyft, who are still in Act I, relying on externally driven vehicles, but fighting to transition into a self-driving Act II.

Amazon also combined Acts II and III with AWS, of course, since that was a once-in-a-generation case where there was no existing/establishment infrastructure. Similarly, Google has a long history of unleashing its internal Act II infrastructure to become Act III industry transformers, eg MapReduce, Kubernetes, and TensorFlow.

An even more unusual example is Bitcoin, which evolved its parallel infrastructure (miners and nodes) from scratch straight into Act III, an extraordinary instance of bootstrap levitation. This succeeded at first purely because it was so technically interesting and innovative, and subsequently because it was built from the ground up to incentivize infrastructure growth — to the Sorceror’s-Apprentice-esque point where it’s possible that as much as one in every thousand watts of electricity generated worldwide today, and counting, goes to securing the Bitcoin blockchain.

You usually want to piggyback before you evolve your own infrastructure, lest you become Webvan, although there are several spectacular exceptions. Elon Musk has spent his career trying to build third-act companies; PayPal topped out at Act II, so he went on to SpaceX (which started in Act II after Musk’s attempt to piggyback on Russian ICBMs didn’t work out, and is now clearly in Act III, beginning to supplant the existing launch-industrial complex) and Tesla (which similarly launched into Act II and, is extremely ambitiously, aiming for Act III vs. the multitrillion-dollar installed base of global oil infrastructure.)

But, like American lives, some startup have no second acts. This is what I call the “piggyback problem”; when there’s no apparent way to evolve your own infrastructure. To be clear, this is not necessarily a business or financial problem. AirBnB leaps to mind as an example of an extremely successful pure Act I startup; it’s made arguable attempts towards Act II infrastructure, but I don’t think the path there is particularly clear. I’m sure its founders and backers are weeping all the way to the bank.

However, this does make AirBnB a little … well … boring. And the same is true of scooter startups. They are all strictly Act I piggyback startups, and I can’t see how they might get to Act II in the viciously contested, heavily regulated environment of the modern city. (Lest anyone argue that they are infrastructure, this is only true in a trivial sense; the point is that they rely on external infrastructure.) Not that there’s anything wrong with being Act I. But Act III is where tomorrow is born.


Source: Tech Crunch

LIV is Kickstarting a beefy and bold chronograph for race lovers

LIV Watches is a crowdfunding darling with a number of Kickstarted watches under its belt. Now it’s offering a unique set of watches to backers, including the Liv Genesis GX-AC, an automatic chronograph with date. The watch runs a Sellita Caliber SW500, visible through the see-through back, and features a screw down crown and massive metal pushers.

The company prides itself on the size of its watches and this piece is no exception. The GX-AC isn’t wildly big – at 46mm it’s just a bit bigger than most Android Wear watches – and it fits nicely thanks to a rounded rubber band that hugs the top and bottom of the case. There is a small running seconds hand at nine-o’clock and registers for minutes and hours at noon and six.

If you’ve seen automatic chronographs before you know what you’re in for – a standard movement encased in a special steel case that is designed to appeal to a certain demographic. LIV is also Kickstarting a number of other watches, including a Day-Date chronograph that is flight-inspired and a diver, so check them out. However, if you’re into this piece then you’re in for a treat. It starts at $790, far below most mechanical chronographs I’ve seen, and the workmanship and quality of this piece is quite nice.

I wore it a little over the past few weeks and found it very comfortable and easy to read. The running seconds hand is a bit small and the lume is limited to the pips and hands but as a fashion/everyday wear piece it’s excellent. If you particularly like the style – F1 racing meets Kylo Ren – then you’re probably going to like this thing and since they’ve already surpassed their goal and hit $602,000 you can expect delivery of your perk.

Again, watches like this one require a specific style and taste. The LIV is reminiscent of Alpina and Tissot in its case style and decoration and it pays homage to racing and speed. Grabbing a Swiss made watch for under $1,000 is a treat and this is a good example of the species and well worth a look.


Source: Tech Crunch

Here’s what EA announced at E3 2018

Good afternoon, downtown L.A.! The sun is shining, the birds are singing and the giant banners with gun toting cyborgs have been unveiled.

That can only mean one thing: it’s time for E3! Electronic Arts kicked the show off this morning with the first official press conference, and the big news was, as anticipated, Battlefield V.

Battlefield V

The World War II title will likely get a little more love at the Xbox press conference tomorrow morning, but we did get a look at some compelling gameplay. Notably, the title is getting a Fortnite-style multiplayer, battle royale mode.

Anthem

Bioware’s next title isn’t due out until next February, but Anthem still managed to get a lot of love today at E3. The multiplayer shooter finds players assuming the role of mech suit wearing “Freelancers.”

FIFA 19

Due out September 28, EA’s big soccer (or football or whatever) title is adding UEFA Champions League gameplay, after picking up the license from Konami. That’s big news for European soccer fans, bringing the annual tournament to the title. The company also announced a free trial for Xbox, Playstation and PC players.

Madden NFL 19

The popular football title (the other football) is destined for the PC for the first time in more than 10 years. It will bring with it new, more lifelike player animation when it debuts August 10.

Star Wars: Jedi Fallen Order

It wouldn’t be an EA E3 event without some Star Wars love. Due out during the 2019 holiday season, the title will offer a dark take on the familiar universe, allowing users to play as a Jedi. That’s all we know so far, and sadly, there’s no trailer yet to speak of.

Unravel 2

No waiting on this one, however. The yarn of a puzzle platformer sequel just dropped today for the PC, PlayStation 4 and Xbox One.


Source: Tech Crunch