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Archivo del Autor: Belen De Leon

WSJ reports that Theranos will finally dissolve

Theranos is reportedly finally closing down for good, nearly three years after a Wall Street Journal investigation called its blood testing technology into question. The WSJ said the company, whose dramatic downfall spawned a best-selling book that’s set to be filmed with Jennifer Lawrence starring as Theranos founder and CEO Elizabeth Holmes, sent shareholders an email saying it will formally dissolve and seek to pay unsecured creditors its remaining cash in the coming months.

Holmes resigned as CEO in June after she and Theranos’ former president, Ramesh “Sunny” Balwani, were charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud in June.

Both Holmes and Balwani had already been charged with fraud by the Securities and Exchange Commission (the criminal charges are separate from the civil ones filed by the SEC). In its complaint, the SEC said the two engaged in “an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business and financial performance,” which ultimately enabled them to raise more than $700 million from investors.

Holmes and the SEC settled the charges by having Holmes agree to pay a $500,000 penalty and be barred from serving as an officer or director of a public company for 10 years. She was also required to return the remaining 18.9 million shares she obtained while engaging in fraud and relinquish voting control of Theranos.

TechCrunch has sent an email to Theranos’ public relations address asking for comment.


Source: TechCrunch

Someone just bought a cryptocurrency cat for $172,000 – CNET

Was it an accident? Money laundering? No one knows. But someone just bought a CryptoKitties digital cat for $172,000.
Source: CNET

Meditation app Headspace bets on voice and AI with Alpine.AI acquisition

Headspace, a meditation app with 31 million users that is valued at $320 million, is doubling down on voice and A.I. technology to help differentiate itself from the rest of the wellness pack. The company today has announced that it has acquired Alpine.AI (previously called VoiceLabs), one of the early players in the digital assistant market, to bring more voice interaction into its main app.

“There are a few meditation apps out there right now…but the ability to react to where you are in your journey with specific advice through voice applications will be [far ahead] of where our competitors are,” says Headspace’s new CTO Paddy Hannon, who will lead the Alpine team of four who are joining Headspace’s offices in San Francisco.

Terms of the deal were not disclosed, but the acquisition includes both the team and the technology, Headspace said. The team joining will include Alpine.AI co-founder and CTO Alexandre Linares and three engineers. Alpine.AI CEO Adam Marchick will retain an advisory role going forward.

VoiceLabs had experimented across a number of voice-based products over the years. They included a voice advertising product that Amazon squashed; an analytics service for voice app developers; and most recently, a solution that could build voice shopping apps by importing retailers’ catalogs and using A.I. to answer customer questions about those products.

The latter, known as Alpine.AI, is what Headspace found most interesting.

Alpine.AI was working on solutions for retailers, which would allow customers to talk to their voice assistants naturally. For example, asking for a mascara, the voice assistant would respond with things like, “What color?” and “Do you want it to be waterproof?”

Headspace is not about to start selling make-up, but it does see potential in applying Alpine.AI’s machine learning technologies to its own domain.

Today, Headspace’s primary interface is audio. Users are guided through meditation sessions by the soothing, calm and distinctive voice of Andi Puddicombe, the co-founder who is a former Tibetan monk.

Building on that foundation, the plan will be to implement Alpine.AI’s technology to give people an interactive voice-based way to discover the different meditation sessions available on Headspace, and to use those interactions to make better suggestions to individual users.

A consumer might tell Headspace they’re “stressed out,” and the app would make an appropriate recommendation based on the customer’s history in the app.

The addition of Alpine’s technology could be a competitive advantage for Headspace, in the crowded and growing field of self-care apps. Headspace is just ahead of chief rival Calm.com in terms of valuation, with the latter at around $277 million, according to data from PitchBook.

Beyond the initial advantage of improving Headspace’s voice apps, Hannon says Alpine’s technology can be put to use in other ways, as well, including within its iOS and Android apps where users’ actions — not a voice command — could be the trigger that kicks off a personalized suggestion.

Hannon says Alpine.AI was also appealing because of how it was built.

“They built everything on Amazon. They use Docker. This was another reason it was a very attractive acquisition,” Hannon explains. “They built software using the same patterns that we build our software with internally. They’re leveraging much of the same database technologies that we’re using. They use REST services like we do…so from an infrastructure perspective, it was very straightforward.

“I think where it’s going to be interesting is attaching our audio content to their text-based system. But when you look at what Amazon’s providing with things like Lex right now, there’s a lot of text-to-speech or speech-to-text systems, that I think will enable us to do that implementation,” he added.

The deal is also about betting on the future of voice computing. The number of voice-enabled digital assistant devices has grown to over 1 billion worldwide over the past two-and-a-half years. Today, 20 percent of U.S. households have a dedicated smart speaker, and that number is expected to grow.

As one of the leading apps in the profitable self-care app market, Headspace today reaches 31 million users, including over 1 million paying subscribers, across 190 countries. It also runs a B2B business focused on bringing its meditation exercises to larger organizations and their employees, where it has more than 250 businesses on board.

Alpine.AI was a seed-stage company at the time of the acquisition, having raised “a few million” from investors including The Chernin Group, Javelin Venture Partners and Betaworks. But while voice-enabled smart speakers have proven to have some popularity, we’ve yet to see many startups working in voice-based interfaces scale up and take on the likes of Nuance or other large platform players like Apple, Google and Amazon. This might have been part of the reason why Alpine.AI was an attractive acquisition target (and was also open to the exit).

The startup is winding down the small handful of retailers, including Petco, who were using the product and is offering each a one-on-one transition plan.

“We are thrilled to be dedicating our efforts to coaching and guiding users to build healthy routines,” said Alpine.AI CEO Adam Marchick, about the acquisition. “Alpine’s machine learning capabilities accelerate Headspace’s efforts to bring new conversational experiences to market.”

 


Source: TechCrunch

The Xbox Adaptive Controller goes on sale today and is also now part of the V&A museum’s collection

In an important move for inclusion in the gaming community, the Xbox Adaptive Controller, created for gamers with mobility issues, is now on sale. The Victoria and Albert Museum (V&A) also announced today that it has acquired the Xbox Adaptive Controller for display in its Rapid Response gallery dedicated to current events and pop culture.

First introduced in May, the Xbox Adaptive Controller can now be purchased online for $99.99. To create the controller, Microsoft collaborated with gamers with disabilities and limited mobility, as well as advisors from several organizations, including the AbleGamers Charity, the Cerebral Palsy Foundation, Special Effect and Warfighter Engaged.

According to Microsoft, the Xbox Adaptive Controller project first took root in 2014 when one of its engineers spotted a custom gaming controller made by Warfighter Engaged, a non-profit that provides gaming devices for wounded and disabled veterans. During several of Microsoft’s hackathons, teams of employees began working on gaming devices for people with limited mobility, which in turn gave momentum to the development of the Xbox Adaptive Controller.

In its announcement, the V&A said it added the Xbox Adaptive Controller to its collection because “as the first adaptive controller designed and manufactured at large-scale by a leading technology company, it represents a landmark moment in videogame play, and demonstrates how design can be harnessed to encourage inclusively and access.”

The Xbox Adaptive Controller features two large buttons that can be programmed to fit its user’s needs, as well as 19 jacks and two USB ports that are spread out in a single line on the back of the device to make them easier to access. Symbols embossed along the back of the controller’s top help identify ports so gamers don’t ahve to turn it around or lift it up to find the one they need, while groves serve as guidelines to help them plug in devices. Based on gamer feedback, Microsoft moved controls including the D Pad to the side of the device and put the A and B buttons closer together, so gamers can easily move between them with one hand.

The controller slopes down toward the front, enabling gamers to slide their hands onto it without having to lift them (and also makes it easier to control with feet) and has rounded edges to reduce the change of injury if it’s dropped on a foot. The Xbox Adaptive Controller was designed to rest comfortably in laps and also has three threaded inserts so it can be mounted with hardware to wheelchairs, lap boards or desks.

In terms of visual design, the Xbox Adaptive Controller is sleek and unobtrusive, since Microsoft heard from many gamers with limited mobility that they dislike using adaptive devices because they often look like toys. The company’s attention to detail also extends into the controller’s packaging, which is very easy to unbox because gamers told Microsoft that they are often forced to open boxes and other product packages with their teeth.


Source: TechCrunch

Twitter CEO Dorsey needs to bring answers on free speech, Rep. Walden says – CNET

The House Energy and Commerce chairman says conservative voices appear to be being censored on social media, and tech needs to explain why.
Source: CNET

Burning Man: sympathy for the turnkey devil

The most interesting thing about Burning Man, says me, is that it’s a testbed for a post-scarcity society. The irony of course is that such a testbed requires enormous amounts of money and resources, in a highly hostile and inaccessible environment. That’s how far you have to go to get away from the monetary / scarcity hierarchies of our world.

It’s a lot of other things, of course — the world’s biggest, craziest, and most spectacular party, a huge EDM festival, a massive outdoor art gallery (both ephemeral and permanent — museum curators go out there to inspect the work with an eye towards adding to their collections), an experimental community, a secular pagan ritual, a set & setting for psychedelics, a holiday / reunion with one’s friends, etcetera etcetera. Amusingly it is widely misunderstood as a hippie event, when its flamethrowers:guitars ratio is roughly 100:1 and its mottos include “Safety Third” and “Keep Burning Man Potentially Lethal.” It is also even, sometimes, very weirdly, misinterpreted as some kind of holiday-hackathon extension of Silicon Valley.

That last misunderstanding is instructive. The list of events this year included a so-called ‘VC/entrepreneur networking event and pitch session.’ I did not attend, but a close friend did, and reported “it was the ultimate Poe’s Law event … many people were genuinely crestfallen when they realized it was a joke.” It seems that the concept of a place that isn’t so much opposed to external social hierarchies as it is, much more interestingly, orthogonal to them — that’s a hard one for some people to to wrap their heads around.

It’s true that Burning Man is very influential in the Valley, as this excellent Stanford News piece discusses. It’s true that there is a lot of amazing technology out there — this year featured a glorious swarm/murmuration of 600(!) drones, paired twenty-foot Tesla coils, a whole panoply of robots, etc. But its makers go to show off what they have built to their community, not in the hopes of filthy lucre.

Don’t get me wrong. This experimental desert community very much has its own hierarchies, its own social capital, its own parasites, its own textbook full of unwritten rules, its own perfectly acceptable (indeed, proudly championed) logos. But the idea, at least, is: everyone works; everyone builds (if only a tent); everyone fights, and loses to, the dust; everyone amasses social capital by giving things and experiences rather than earning them; and everyone — whether riding atop a massive fire-breathing art car, or huddled in a mini-tent in the camp allotted to those bus riders who have nowhere else to go — is equally a participant, whether just helping and collaborating with those strangers in your immediate vicinity, or building some massive art/tech project for all to enjoy.

This orthogonality to external hierarchies, this competition to give rather than to take, is what makes it a fascinating de facto testbed for a post-scarcity society, among other forms of experimental community. And maybe that’s why those who come but don’t participate in any community at all are so deeply scorned, loathed, and despised.

I refer, of course, to the infamous “turnkey camps” of (often very) wealthy people who pay money to have their hexayurts erected, their food provided, their experience guided and curated — to be spectators at the spectacle, basically. To exist differently from everyone else at the event. To bring their hierarchical upper-tier existence from the outside world to the playa; to infect our testbed with boring old capitalism.

It’s true that rich people, especially from the Valley, have been coming to Burning Man and enjoying expensive luxuries there for a very long time. In 2001, Larry and Sergey chose Eric Schmidt as Google’s CEO in part because he was the only candidate who had been to Burning Man. Mark Zuckerberg once choppered in and spent an afternoon giving away grilled cheese sandwiches. Elon Musk dismissed the TV show “Silicon Valley” because it didn’t reflect the side of the Valley he saw at Burning Man. But they still made that happen themselves. It’s only been over the last few years that the experience has — allegedly — been for sale as a package deal.

This makes people very angry. Mostly, I think, because they are afraid. Capitalism is basically the Borg; it infects and subsumes everything it touches. Burning Man will become just another big party festival, is the fear, no longer an experimental community, much less a post-scarcity testbed.

And yet. I happened to spend Saturday night surrounded by a bunch of very clean, very wealthy people from a turnkey camp. There were old men in civilian shorts; young men in completely spotless, glittering, top-end multi-thousand-dollar burnerwear; a woman in a don’t-look-at-me-I’m-totally-not-a-celebrity custom full-face golden mask. They acted as a classic tour group, except instead of following a flag, their lead sherpa held a ten-foot length of quarter-inch rebar topped with a blinking LED heart.

And what I felt most, after I got over my initial resentment, was how sorry I was for them. I had solo camped in dusty squalor in the aforementioned bus camp … and I had clearly had a far more interesting and enjoyable time. Granted, I’m (relatively speaking) a crusty veteran of the event, but I suspect I would have had I been a virgin, too. And I think, as they looked around at the seventy thousand souls around them, many of whom were also very wealthy and could have purchased the turnkey experience, but instead chose to pour in an enormous amount of effort and experimentation, to construct enormous machines and/or monumental works of art, because they expected the rewards to be great — I think those much-loathed tourists knew this too.

So never mind their invasion; I expect Burning Man to remain remarkably resistant to capitalism’s Borg, and therefore an interesting experimental proving ground — for cultures, communities, and technologies — for the foreseeable future. (As well as a completely ridiculous party populated by completely ridiculous people, which is also very much one of its faces.) I don’t expect the turnkey tourists to convert. They’re too committed to their own hierarchies. But I do think we live in a very interesting time of technology-enabled cultural and community experimentation, and, as silly and over-the-top as Burning Man can seem and be, those experiments there are genuinely valuable.


Source: TechCrunch

Iron Fist's second season is fighting for a second chance – CNET

The hero with the glowing fist returns with a little bit more badassery.
Source: CNET

SynapseFI raises $17M to develop its fintech and banking platform

SynapseFI, a startup that helps banks and fintech companies work together to develop technology, has announced that it raised a $17 million Series A funding round.

The funding actually closed at the back end of last year, but CEO Sankaet Pathak said the company has been so busy developing new products, hiring and more than that it is only getting around to disclosing the deal now. The investment was led by Trinity Ventures and Core Innovation Capital, with participation from other unnamed backers.

The San Francisco-based startup has sat under the radar for a while now despite starting up in 2014. Its core product is a platform that helps banks and developers work together. That involves developer-facing APIs that allow companies to connect with banks to offer services, and also bank-facing APIs that allow banks to automate and extend back-end operations.

Pathak describes the vision as making it possible for anyone around the world to get access to high-quality financial products. The first focus is to make financial products “like Lego bricks” to enable banks to add new products and services easily. As it stands today, development is a painful process that requires specific infrastructure development, but SynapseFI aims to standardize a lot of the processes and platform to make things much simpler.

The idea for the business came when Pathak, who moved to the U.S. from India in 2010, grew frustrated at being unable to get a bank account or loan because he had no social security history. He left the University of Memphis, where he had studied computer engineering and sciences, and founded the startup in April 2014 alongside his friend Bryan Keltner.

Initially, the business focused on payments, but it gradually tilted to become a technology enabler for the financial industry.

Today, SynapseFI has over 60 staff and it works with a roster of over 100 financial industry clients. Its products include the basics like payment, deposit, lending and investment services, but it has also ventured into crypto with services that include a white-label wallet.

To date, it claims to have processed over $10 billion in transactions and helped bank more than 1.5 million people through its technology.

The SynapseFi team

“There are three core things we want to fix in banking,” Pathak told TechCrunch in an interview. “The back office is still mostly manual today and we want to automate that. There’s a need for vertical integration… we want any large or small financial company to be able to come to us and operate at the same scale as the likes of Wells and Chase. We also want to automate financial advice using behavior science.”

Pathak added that the startup also harbors an ambition to expand overseas. That’s likely to mean Europe first — potentially a market like the UK or Germany — but it’ll require fairly intensive localization as the SynapseFI platform is customized to accommodate U.S. APIs and data pipes, none of which will work outside of the country.

An expansion would be likely to happen around the time that the company looks to raise its Series B, although Pathak stressed that he is also focused on building a sustainable business and not simply relying on venture capital money. Indeed, he said that the company is likely to reach breakeven by the end of the year.

“I still think it’s a healthy business practice,” Pathak said.


Source: TechCrunch

The truly wireless Earin M-2 earbuds weren't vaporware after all – CNET

20 months later, Earin’s promised wireless earbuds are finally shipping — and they still look interesting.
Source: CNET

How to watch Facebook and Twitter’s big hearings with Congress

On Wednesday, Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey will appear before Congress in the latest high profile hearings for tech on Capitol Hill. The main event will take place at 9:30 a.m. ET, as the pair of tech execs faces the defense and cybersecurity-minded Senate Select Intelligence Committee.

Following that hearing, Dorsey will stick around for a chat with the House Energy and Commerce Committee in a hearing set for 1:30 p.m ET. For a thorough preview, you can catch Facebook and Twitter’s opening statements.

In the Senate hearing, expect most of the discussion to focus on the company’s efforts to thwart coordinated efforts by US adversaries to influence domestic politics. Titled “Foreign Influence Operations and Their Use of Social Media Platforms,” the hearing will give some of the Senate’s most tech-savvy members a chance to take their questions and concerns straight to the top.

As the name suggests, the conversation will likely center on social media disinformation campaigns in relation to the upcoming US midterm elections and the cybersecurity efforts made to detect and prevent them. The hearing could also tap into recent conversations around censorship and harassment, though those topics aren’t intended to be the meat of the conversation.

You should be able to stream tomorrow’s Senate hearing below. If that stream isn’t working, the committee will likely stream the hearing on its own event page or you can check C-SPAN’s designated hearing page for a live stream with light commentary.

Compared to the day’s first hearing, the House hearing is a bit more unpredictable. Titled “Twitter: Transparency and Accountability,” the House’s conversation will likely be exploratory rather than solution-oriented in nature, delving into deeply partisan topics around political bias and censorship. Without Facebook by his side to catch some of the heat, Dorsey will be holding his own alone so that alone might make it worth a watch.

In a press release, House Energy and Commerce Committee Chairman Rep. Greg Walden described the decision to call on Dorsey:

“This hearing is about transparency, accountability, and action. We want to take complex, opaque algorithms out of the dark and shed light on the role they play in consumers’ lives. We want to better understand the decisions Twitter makes about content and the company’s process to prevent mistakes and undue bias. The committee takes these issues seriously on behalf of consumers, and expects the same of Twitter.”

If you’d like to tune in to the House hearing, you should be able to stream it live below. If that doesn’t work, the committee’s own landing page should be streaming the hearing.


Source: TechCrunch

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