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Archivo del Autor: Belen De Leon

All eyes are on the next liquidity event when it comes to space startups

At the FAA’s 23rd Annual Commercial Commercial Space Transportation Conference in Washington, DC on Wednesday, a panel dedicated to the topic of trends in VC around space startups touched on public vs. private funding, the right kinds of space companies that should even be considering venture funding, and, perhaps most notably, the big L: Liquidity.

Moderator Tess Hatch, Vice President at Bessemer Venture Partners, addressed the topic in response to an audience question that noted while we’ve heard a lot about how much money will flow into space-related startups from the VC community, we haven’t actually et seen much in the way of liquidity events that prove out the validity of these investments.

“In 2008, a company called Skybox was created and a handful of years later Google acquired the company for $500 million,” Hatch said. “Every venture capitalist’s ears perked up and they thought ‘Hey, that’s pretty good ROI in a short amount of time – maybe the space thing is an investable area’ and then a ton of venture capital investments flooded into space startups, and all of these venture capitalists made one, or maybe two investments in the area. Since then, there have not been many — if any – liquidity events: Perhaps Virgin Galactic going public via the SPAC (special uprose vehicle) on the New York Stock Exchange late last year would be the second. So we’re still waiting; we’re still waiting for those exits, we are still waiting for companies to pave the path for the 400+ startups in the ecosystem to return our investment.”

Hatch added that she’s looking at a number of companies who have the potential to break this somewhat prolonged exit drought in 2020, including five who are either quite mature in terms of their development, naming SpaceX, Rocket Lab, Planet and Spire as all likely candidates to have some kind of liquidity event in 2020, with the mostly likely being an IPO.

Space as an industry was described to me recently as a ‘maturing’ startup market by Space Angels CEO Chad Anderson, by virtue of the distribution of activity in terms of the overall investment rounds in the sector. There is indeed a lot of activity with early stage companies and seed rounds, but the fact remains that there hasn’t been much in the way of exits, and it’s also worth pointing out that corporate VCs haven’t been as acquisitive in space as some of their consumer and enterprise technology counterparts.

The panel touched on a lot more apart from liquidity, which actually only came up towards the end of the discussion, which included panelists Astranis CEO and co-founder John Gedmark; Capella Space CEO and founder Payam Banazadeh and Rocket Lab VP of Global Commercial Launch Services Shane Fleming. Both Gedmark and Banazadeh addressed aspects of the risks and benefits of seeking VC as a space technology company.

“Not every space business is a venture-backable business,” said Banazadeh earlier in the conversation. “But there are a lot of space businesses that are specifically going after raising venture money, and that’s dangerous for everyone – because at the end of the day venture is looking at high risk, high return. The ‘high return’ comes from being able to get substantial amount of revenue in a market that’s big
enough for those revenues to be coming from. But if your idea is to go build, maybe, some very specific part in a satellite, then you have to make the case of why you’ll be able to make those returns for the investors, and in a lot of cases, that’s just not possible.”

Banazadeh also concedes that doing any kind of space technology development is expensive, and the money has to come from somewhere. Gedmark talked about one popular source, government funding and grants, and why that often isn’t as obviously a positive thing for startups as it might seem.

“Small government grants can be great, and obviously a fantastic source of non dilutive capital,” Gedmark said. “But there is a little bit of a trick there, or something to be aware of: I think people are often surprised how much time is spent in the early days of a startup refining the exact idea and the product, and if you’re not certain that you have the that product market fit […] then, the government grant can be extremely dangerous, because they will fund you to do something that is sort of similar to what to what you’re doing, but it really prevents you changing your approach later; you’re going to end up spending time executing on the specific project of the program manager on the government side and you’re executing on what they want.”

VC funds, on the other hand, come with the built-in expectation that you’re going to refine and potentially even change direction altogether, Gedmark says. Depending on the terms of the public funding you’re seeking, that flexibility may not be part of the arrangement, which ultimately could be more important than a bit of equity dilution.


Source: TechCrunch

Here’s why the death of Windows 7 is breathing new life into PCs

The confluence of new technologies ranging from Wi-Fi 6 to foldable displays along with the timely death of Windows 7 will help Microsoft and Intel in 2020. These factors will likely force consumers and businesses to upgrade.
Source: Digital trends

Tesla temporarily closes Shanghai factory over coronavirus concerns

Tesla has shut down its Shanghai factory as part of a broader order by the Chinese government to stem the spread of the coronavirus in the region, a closure that will delay Model 3 production and ultimately put slight downward pressure on profits in the first quarter, the automaker’s finance chief Zach Kirkhorn said during an earnings call Wednesday.

Prior to the call, Tesla reported Wednesday $105 million in net income, or 56 cents a diluted share, compared with $140 million, or 78 cents a share, in the same year-ago period. Tesla earned $386 million, or $2.14 a share, in the fourth quarter when adjusted for one-time items. Tesla generated revenue of $7.38 billion in fourth quarter, just 1% higher than the $7.2 billion generated in the same period in 2018.

Model 3 production will be delayed by a week and a half, Kirkhorn said. Novel coronavirus, a new form of the family of viruses known as coronavirus first cropped up in Wuhan in late December 2019. Since then,  thousands of people have contracted the virus, causing the government to take measures such as shutting down transit and factories throughout the country, including Foxconn. Automakers Ford and Toyota have said they will idle some of their Chinese assembly plants for an extra week, the NYT reported.

Apple CEO Tim Cook told investors that its Chinese suppliers are scheduled to remain closed until Feb. 10. Meanwhile, Starbucks said Wednesday it would temporarily shuttered more than 2,000 of its locations in China.

“We are in the early stages of understanding if, and to what extent, we may be temporarily impacted by the coronavirus,” Kirkhorn said. “At this point we’re expecting a one, to one and a half week-delay in the ramp of the Shanghai build Model 3 due to a government required factory shutdown. This may slightly impact profitability for the quarter, but is limited as the profit contribution from Model 3 Shanghai remains in the early stages.”

Tesla is also closely monitoring if the coronavirus will cause interruptions in the supply chain for cars built in Fremont. “So far we’re not aware of anything material, but it’s important to caveat, this is an unfolding story,” Kirkhorn added.

The first deliveries of Tesla Model 3 sedans produced at the Shanghai plant began in early January, one year after the U.S. automaker began construction on its first factory outside the United States.

The deliveries to customers was a milestone for Tesla and a critical step for the company in its aim to carve out market share in the world’s biggest auto market, as well as lessen the financial pain caused by tariffs.


Source: TechCrunch

San Francisco Joins the Move to Ban Cars From a Major Street

New York has cleared Times Square and 14th Street, while Oslo is banishing drivers from its city center.
Source: Wired

Hasselblad XCD 4/45P

Billed as the world’s smallest and lightest medium format lens, the Hasselblad XCD 4/45P delivers superb results and is sure to be the first lens for many system buyers.
Source: PC MAG

Dell Latitude 7220 Rugged Extreme Tablet

Dell’s Latitude 7220 Rugged Extreme Tablet lives up to its name by laughing at drops, splashes, and temperatures that would blow the average slate to smithereens. It’s ideal for first responders and factory floors.
Source: PC MAG

"Hola Alexa, mi universidad me espía"

Campus de todo el mundo están incorporando altavoces inteligentes para ayudar a sus estudiantes. Aunque en algunos casos la información que ofrecen sobre horarios y cuestiones administrativas les resulta Ãºtil, muchos expertos alertan de los riesgos de privacidad para el futuro de los alumnos
Source: MIT

Detalles del último e impresionante robo de los hackers de Corea del Norte

El llamado grupo Lazarus, responsable del ciberataque mundial WannaCry, robó más de seis millones de euros de una plataforma de intercambio de criptomonedas. Para lograrlo, los atacantes diseñaron un sofisticado esquema de ataque y blanqueo de dinero. Y lo peor es que cualquiera lo podría replicar
Source: MIT

AirPods on sale: Get the standard charging case for $129 or wireless charging for $165 – CNET

BJs has the best price around on AirPods with Wireless Charging Case, and you can get a free one-day online pass to check it out.
Source: CNET

Apple closes two more China stores on coronavirus worries – CNET

Three of its retail locations in the Asian country have been temporarily shuttered as the disease continues to spread.
Source: CNET

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