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Archivo del Autor: Belen De Leon

Apple iPad event live blog and livestream: How to watch live – CNET

New iPad Pros and the successor to the MacBook Air are expected to be unveiled in Brooklyn.
Source: CNET

New iPad Pro, new MacBook Air, updated Mac Mini and more: What to expect from Apple's event today – CNET

New iPad Pros and a redesigned MacBook Air are likely. And we may see some other product updates, too.
Source: CNET

IBM to acquire Red Hat, OnePlus 6T set to launch video – CNET

The most important tech stories of the day include IBM’s acquisition of Red Hat, the launch of the OnePlus 6T and Walmart’s version of Amazon’s Go store.
Source: CNET

What the Bolsonaro victory means for Brazil’s startup ecosystme

On October 28, far-right candidate Jair Bolsonaro won the Brazilian elections, after one of the most polarizing campaigns of the last decades.

For months before the result, the economy was destabilized by an unpredictable race during which Mr. Bolsonaro was stabbed during a rally and the main challenger, center-left candidate Fernando Haddad, entered the campaign after the original candidate, the now incarcerated former president Luis Inácio Lula da Silva, was pulled from the race.

The uncertainty caused by the elections hit Brazil’s currency and M&A and IPO markets, but in the middle of all of this, the Brazilian innovation ecosystem blossomed.

Technology companies continued to do well despite all the uncertainty, including the recent public offering of Stone, one of the leaders of the credit card processing market. Stone raised $1.5 billion in its initial public offering on the Nasdaq.

Private technology companies are also benefitting. According to LAVCA (Latin America Private Equity & Venture Capital Association), the country accounted for 45.4% of all tech deals in 2017, with $859 million invested across 113 deals. Anjos do Brasil (the Brazilian Angel Association) also reported a 16% increase in angel investment in 2017, with deals representing almost $250 million.

Attendant with that pace of investment activity around innovative companies is the need for a quantum leap in regulations for the industry.

Indeed, regulators have struggled to balance an innovation-oriented posture with the possible unintended costs of disruption. Lawyers are racing to develop legal solutions in a legal landscape filled with obstacles and entrepreneurs have reported that the regulatory environment is the main burden for innovation in Brazil, according to a research published by ABStartups (Brazilian Startup Association).

Recent regulatory developments

There is some good news, certainly. In the past few years, regulators have been setting up task forces to understand major innovations and their legal impact.

In 2016, both CVM (the Brazilian Securities Exchange Commission) and BCB (Brazilian Central Bank) developed working groups focused on financial technologies. The results are already here, since these groups had a major role in recent developments, such as the equity crowdfunding regulation and the seed funds normative instruction, both issued by CVM in 2017, and the p2p and online lending rule, enacted by BCB in early 2018.

On a federal level, awareness of the importance of the sector has also thrived.

In early 2018, the Brazilian presidency enacted Decree n. 9.319/18, which outlines the Brazilian Digital Transformation Strategy, aiming to standardize all the initiatives of the federal bureaus related to the innovation ecosystem. Following the publication of the decree, the federal government created the Subcommittee on Startups Regulation, bringing together public officials and representatives of the civil society to discuss the further legislative developments for technology-oriented companies.

However, some recent initiatives failed to address significant changes.

The Complementary Law n. 155 introduced a new kind of contract, the angel investment agreement (contrato de participação de investimento-anjo), whose adoption by the market was limited, due to both its complexity and the lack of tax incentives associated with it. And the recently published amendment to Law 8.248 (Lei de Informática) allowed research and development tax credits to be employed in funds that invest in technology companies, but there are still tough limitations related to the nature of such credits. Finally, the labor law reforms in 2017 failed to address concerns related to vesting agreements for sociedades limitadas, which are currently drafted under some legal uncertainty for founders and investors.

Bolsonaro and his proposals for innovation and entrepreneurship

For years, several countries have developed regulatory models geared toward high-impact entrepreneurship. However, most of the general policies adopted in Brazil in the last decades are based on outdated assumptions and do not respond to the complexity of the challenges that affect startups.

Bolsonaro has addressed some issues that may have a direct impact on the entrepreneurship ecosystem. In his proposals, he highlights the importance of partnerships between businesses and universities, mentioning that the latter must develop practical solutions to improve productivity, wealth and the well-being of the population, citing Israel and the United States as examples, while stimulating entrepreneurship education. One of the proposals includes, for instance, establishing a mandatory entrepreneurship course for all federal undergraduate schools.

The president-elect also advocates for the open market as the main engine of innovation, through what he calls a “positive technological shock”. His proposals also emphasize the importance of innovation in the agriculture and industry sectors, as well as the importance of promoting startups in partnership with private capital market institutions.

Unfortunately, the policies are vague, and do not seem to be priorities in his agenda. The attention is now focused on the reform of the Social Security system, and on the implementation of policies that are more immediate and urgent for the population, such as public safety, health, education and employment.

A field to play on but not enough guidelines for the game

The playing field is designed, but the rules that will genuinely change the innovation game in Brazil have yet to come. Whilst countries such as Italy and Australia have recently enacted robust regulations, there is still room for a convincing ground-breaking legislative initiative, as Marco Civil da Internet was for the digital environment in 2014.

Some of the challenges are clear and include changing our Corporations Law (Lei das Sociedades Anônimas) to include a simplified corporate type for startups, creating tax benefits for both startups and angel investors, promoting flexibility with labor agreements and expanding our R&D tax credits policy.

Politicians in Brazil, regardless of party or ideology, must play the game. The future government and its office must invest time to learn the business and the regulatory framework, aiming to provide real value to the ecosystem. As emerging technologies drive new business models, regulation should also keep pace with today’s tough environment, thus fostering better conditions for startups and innovation in our country.


Source: TechCrunch

Airobotics raises another $30 million for its automated drone technologies

Airobotics, the developer of automated drones that can fly without a pilot, has raised $30 million in a new round of financing.

The new funding will be used to boost the company’s manufacturing efforts to meet new demand and help with the development of the company’s global headquarters in Arizona as it looks to capitalize on interest from mining companies in North and South America.

“Streamlining manufacturing to achieve growth and scale is what this funding is to be used for,” according to the company’s chief executive officer and co-founder Ran Krauss.

As the company looks to increase manufacturing, it will likely confine its efforts to the U.S., given the constraints that the Airobotics has on its potential vendors and supply chain thanks to its involvement in the defense industry.

Krauss would not comment on whether the company is doing any work with the U.S. Department of Homeland Security or the much-maligned Immigrations and Customs Enforcement and U.S. Customs and Border Patrol, but ICE has expressed interest in acquiring drone technologies and the company has been pushing hard into the homeland security market (indeed it was a centerpiece of the company’s last $32.5 million round in 2017).

“We are deepening our work in the mining industry in Australia and in the U.S. [and] the next step is to be active in smart cities,” said Krauss.

The company’s mining operations span the globe with deployments through the mining giant BHP in Arizona, South 32 in Australia, Vale in Brazil and additional work in Chile.

“We are looking very seriously into the United States because of our scale. Mining is a significant market in the U.S. and also… flights in cities which is something we’re looking to in two years,” said Krauss.

Airobotics is also making money from contracts doing security and facilities management for companies like Intel, where it is already deployed in one of the company’s large semiconductor fabrication facilities.

The company was the first company in the world to be granted authorization to fly fully automated drones without a pilot, as licensed by the Civil Aviation Authority of Israel (CAAI).

“We have a strong business pipeline and to keep up with demand for our technology, we are continuing to expand operations across the countries in which we operate, specifically our new headquarters in the U.S,” said Krauss in a statement. “Additionally, the new funding will drive our continuous work with Aviation Authorities to obtain BVLOS (Beyond Visual Line of Sight) Certificate of Waiver in every geography we operate in, including in the U.S.”

The new financing was led by Pavilion Capital, a Sino-U.S. investment firm based in New York. Previous investors including Blue Run Ventures China, Charles River Ventures and OurCrowd, as well as additional private investors, also participated in the funding.


Source: TechCrunch

The Jay-Z-backed life insurance startup, Ethos, has raised $35 million

Ethos, the startup marketing a new life insurance product for people who probably haven’t really thought about life insurance, may have 99 startup problems but new capital ain’t one.

The company just announced that it raised $35 million in a new round of financing.

That’s a pretty big number for a company in the normally staid life insurance world, but considering that the company’s previous round of $11.5 million came from the family offices and investment firms of Hollywood and sports celebrities like Will Smith’s Smith Family Circle; Robert Downey Jr.’s Downey Ventures; Kevin Durant’s Durant Company; Arrive, the Roc Nation investment company from Jay Z; and leading Silicon Valley investment firm Sequoia Capital, folks probably shouldn’t be too surprised.

The new funding was led by Accel Partners, with new investor GV (the investment firm formerly known as Google Ventures) also participating alongside return investors Sequoia Capital and Arrive .

Ethos makes its money by providing an online and mobile sales channel for insurance policies created by the Lincoln, Neb.-based life insurance company, Assurity Life.

Rather than selling permanent life insurance, which requires users to pay in perpetuity and which payers often let lapse or opt out over time for a loss, Ethos bills itself as a more equitable insurance provider by only offering term life insurance, which policy-holders only have to pay for a fixed period of time.

The term life insurance policies are less expensive than permanent life insurance offerings.

Given how little insight customers have into the process other insurance providers, which pay their salespeople on commission, have incentives to pitch the more expensive policies that customers often let lapse. It’s a win-win for the insurer, according to company chief executive officer, Peter Colis.

Ethos co-founders Peter Colis and Lingke Wang

“They’ll often convince people they need permanent life insurance. And they’ll give a you a bait and switch price that less than 10% of people qualify for,” he said.

By contrast, Ethos doesn’t pay its salespeople on commission and prices are among the lowest in the industry — while the folks that can receive the coverage are among the broadest.

It’s a new way to sell an old product to a generation that doesn’t have much use for the stereotypical insurance salesman and can’t stand the process of hours of paperwork. Using population data, Ethos can offer insurance policies in roughly ten minutes based on a few bits of customer information.

Based on those answers, the company will calculate a price for a policy, depending on whether a potential policy-holder wants insurance that would last anywhere from 10 to 30 years.

“We’re processing thousands of apps and customers,” said Colis.

Colis and his co-founder Lingke Wang have deep experience in the life insurance industry. The two previously founded Ovid Life, a company that created a secondary marketplace for life insurance policies where policyholders could cash out of their policies by selling them to willing buyers.

In addition to its cash investment, Ethos also managed to score a debt round from Silicon Valley Bank .

As a result of the investment, Accel partner Nate Niparko will join the Ethos board of directors and GV General Partner Tyson Clark will become an advisor to the company’s board.

It’s no surprise that venture investors are becoming more interested in the insurance industry. Startup companies have raised billions and have seen multiple exits already as insurers try to shore up their defenses against incumbents in the industry that are also — backed by venture capitalists. Indeed, many insurance companies have set up their own funds to invest in new technologies before they become “disrupted”.


Source: TechCrunch

How Boston Dynamics' Robot Videos Became Internet Gold

CEO Marc Raibert shares the backstory of his company’s viral videos and how the internet’s favorite robot dog, SpotMini, came to be.
Source: Wired

Apple Store down ahead of iPad event – CNET

Apple is expected to unveil new iPads and MacBooks at its event in Brooklyn.
Source: CNET

Apple iPad Pro Announcement 2018 Liveblog

Follow Apple’s October 30 iPad Pro event in New York with our live news updates.
Source: Wired

One of crypto’s longest-running exchanges has been sold

One of the longest-standing crypto exchanges has new owners after Europe-based Bitstamp was sold to South Korea’s Nexon, marking the gaming firm’s second such acquisition.

The acquirer is NXMH, a Belgium-based PE and investment firm owned by NXC — the parent of Nexon — and it will take a majority 80 percent stake in the business for an unknown fee. The New York Times’ Nathaniel Popper suggested earlier this year that Bitstamp was in the process of being sold “to South Korean investors” for $400 million, but NXC declined to comment on the price when asked by TechCrunch.

NXC acquired 65 percent of Korea-based exchange Korbit one year ago for 91.3 billion KRW, or approximately $79.5 million at the time.

Bitstamp was founded in 2011 by Slovenian entrepreneur Nejc Kodrič with an initial €1,000 and it survived the heady early days of crypto, unlike a certain peer named Mt. Gox. Today, Bitstamp is ranked inside the world’s top 30 exchanges based on trading volume with more than 100 staff. Bitcoin and XRP are among its most traded tokens, according to data from Coinmarketcap.com.

The company has a license to do business across the EU but it also works with customers worldwide.

Bitstamp has been profitable since its early life, but Kodrič revealed the sale is down to the potential to work with NXC, which he sees as a like-minded partner.

Bitstamp has been regularly approached by suitors for quite some time. The reason why we finally decided to sell the company is a combination of the quality of the buyer, the quality of the offer and the fact that the industry is at a point where consolidation makes sense. A major factor in agreeing to the sale is that the mission, leadership and vision of the company remains the same.

We believe this acquisition is the logical next step in Bitstamp’s growth as a company and I look forward to the future with this team.

The Bitstamp CEO said business will continue as normal — he’ll retain his position as CEO and keep 10 percent of the company.

Interestingly, he told Fortune that regulatory compliance meant the deal took some ten months to close after first being agreed in December 2017 when crypto market valuations hit a peak — with Bitcoin, in particular, getting close to a record $20,000 valuation.

Bitstamp raised around $14 million in capital from investors along its journey, with U.S-based Pantera capital one of its major backers.

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


Source: TechCrunch

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