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Archivo del Autor: Belen De Leon

Google will start investing in early-stage startups that use the Assistant

Google is betting big on the Assistant ecosystem and it’s now putting its money where its mouth is. As the company announced today, it’s launching a new program that will provide investment capital and other resources to early-stage startups that build applications in the Google Assistant ecosystem.

Typically, companies announce these kind of program to kickstart an ecosystem around a new product. While developers have already launched plenty of services for the Google Assistant, the company says that it is launching this new program to “promote more of this creativity.”

Google VP for search and the Google Assistant Nick Fox echoed this. “With the Google Assistant, we’re focused on fostering an open ecosystem for developers, device makers, and content partners to build new experiences,” he told me. “We’re already seeing a lot of creativity from developers with the Google Assistant, and to help promote this, we’re opening a new investment program for early-stage startups.”

Investments are one part of this program, but Google will also work with these startups directly to provide them mentorship and advice from engineers, product managers and design experts. The startups in the program will also get early access to new features and tools, as well as access to the Google Cloud Platform and promotional support. That sounds a bit like an accelerator program, though that’s not quite what Google is calling it.

Fox tells me that Google won’t put a cap on the investments. “We’ll invest as much as we see fit, and are focused on helping startups succeed in this emerging space,” he said. “And we’re not just offering investment capital. We’re eager to partner with these startups and leverage our company’s strengths to help these products come to market poised for success.”

The first startups in this program include GoMoment, a concierge service for hotels and Edwin, a personal English tutor, as well as the developer tools BotSociety and Pulse Labs.

These startups are good representatives of what Google is after. Fox tells me that Google is looking for startups that are “pursuing an interesting space for Assistants, such as vertical industries like travel or gaming.” In addition, Google is also looking to deepen some of its partnerships, but for the most part, it’s simply looking for startups that are pushing technologies like the Assistant forward.


Source: TechCrunch

Fusion Fund raises a second $85M fund for heavily technical investing

While the mid 2010s were filled with massive financing rounds for companies looking to shift business models like Instacart, Uber, and others along those lines, today’s hottest sector is a more technical one: artificial intelligence.

That’s required a different approach to building companies. As tools become more and more powerful, and frameworks like TensorFlow become more robust, building a company centered around AI — and the big technical problems that either feed it or stem from it — are powering the next wave of potentially massive startups. That’s why Lu Zhang and Homan Yuen, two Stanford technical graduates, are raising a big fund based on their extensive technical experience to find companies that have that strong technology backbone that will become the next big startup.

The pair are raising $85 million for a new fund called Fusion FundFusion Fund’s companies are going to be focused on connected industries, networking technology like communications protocols, data-rich AI products and some health and medical devices. That third bit — investing in AI — is what pretty much every fund is doing, though Yuen made it clear the company isn’t investing in just algorithms, which are eventually going to be a race to the bottom.

“We noticed there weren’t many venture capitalists focusing on technology companies and actually have technical backgrounds,” Yuen said. “We thought, that’s a good opportunity to help early stage companies that need different help, and advice, and connections.”

Zhang and Yuen are two technical founders that sold their companies and were looking to figure out what to do after that. In Zhang’s case, with a masters in material science, she was approached by investors to do a fund, while Yuen had known her at Stanford and ended up syncing up to work on the fund, he said. The fund will be focused on seed-stage companies, looking to write checks between $500,000 and $1 million for companies with technical founders and a pretty difficult problem to solve that requires that expertise.

“We’re not funding science products, or expedition missions, we want clear vision in building a business on the technical advantages,” Yuen said. “Part of our thesis is, over the last five to ten years, we saw a lot of investment into business model innovation. We decided it was time to flip back to tech and infrastructure investing.”

On that front, a lot of these areas are going to get a lot more interesting as time goes on. The tech industry is in the early stages of 5G development and rollout, and once there are more rigorous standards, there will likely be a lot of activity in that space, such as new connection protocols. There’s also a strong security element to that, and all of this requires heavy technical expertise to build something pretty defensible, Yuen said.

But if you want just one example — and this is one where Yuen is sitting on the sidelines for now — on how technical these problems are getting, you can look at the rapid emergence of the custom AI chip space. That problem requires an expertise in rethinking the actual silicon where operations happen to more efficiently tackle machine learning problems, whether that’s focusing on speed, lowering the power consumption, reducing the overall space the processors take up, or getting the cost down to something more reasonable than a bleeding-edge GPU. Right now the space has a ton of VC money flowing into it, and given the size of the checks Yuen is looking to write, it’s an area where the firm has to be more thoughtful about the companies it picks.

This is actually Fusion Fund’s second fund, as it previously went under a different name. First called NewGen Capital, Zhang and Yuen raised $17 million in its first fund and backed 36 seed-stage companies in companies like TVision Insights, Stratifyd, Paperspace, MissionBio, and Paradromics.


Source: TechCrunch

The MoviePass Unlimited Plan Is Back

Two weeks after MoviePass’ unlimited plan disappeared, the service is reviving it—and explaining some of its controversial practices.
Source: Wired

Want to Prune Trees More Easily? Use Physics

A blade will slice into a limb at some particular minimum pressure—but there are different ways to reach that value.
Source: Wired

Facebook F8 Liveblog Day Two: All the News, as It Happens

Join us for live coverage of Facebook F8’s day two keynote, starting at 9:30am PDT.
Source: Wired

The Doomy Gloomy Revival of Old-School First-Person Shooters

Two new games are bringing back the narrative strokes of classic shooters—and that’s awesome.
Source: Wired

The Tricky Logistics of Delivering a Spacecraft on the Interstate

McCollister’s hauls a lot of oversized things, from astronaut capsules to weather-monitoring satellites to military aircraft. And it goes fine—usually.
Source: Wired

NASA’s InSight Lander Will Probe Mars, Measure Its Quakes

Brace yourself, Mars. NASA’s sending a 5-meter probe to take your temperature.
Source: Wired

What Mark Zuckerberg Gets Wrong—and Right—About Hate Speech

Opinion: Artificial intelligence can help identify hate speech, but even the best AI can’t replace human beings.
Source: Wired

Facebook denied a stay to Schrems II privacy referral

Facebook’s attempt to block a series of legal questions relating to a long-running EU privacy case from being referred to Europe’s top court has been throw out by Ireland’s High Court.

Earlier this week the company’s lawyers had asked the Irish High Court to stay the referral to the CJEU of a number of key legal questions pertaining to existing data transfer mechanisms that are being used by thousands of companies (Facebook included) to authorize flows of personal data outside the bloc.

Both the lawfulness of Standard Contractual Clauses and the EU-US Privacy Shield mechanism are now facing questions as a result of this challenge.

However in a ruling today the Irish High Court denied the company’s request for a stay on the CJEU referral — with the judge ordering the referral to be immediately delivered to the Court of Justice, and emphasizing the risk that “millions” of EU data subjects, including privacy campaigner and lawyer Max Schrems whose complaint triggered the court case and subsequent referral, could be having their data processed unlawfully.

“In my opinion very real prejudice is potentially suffered by Mr Schrems and the millions of EU data subjects if the matter is further delayed by a stay as sought in this case,” writes Ms Justice Costello.

She also criticizes Facebook for delaying tactics, and for not making it clear that its appeal against the referral — which Facebook still intends to pursue in the Irish Supreme Court — relates to a time-bound argument that the decision is moot because of an incoming update to EU privacy law (the GDPR).

“The fact that the point is only now being raised gives rise to considerable concern as to the conduct of the case by Facebook and the manner in which it has dealt with the court,” writes the judge in a withering critique.

In a statement on the latest developments in the case, a Facebook spokesperson told us: “We are disappointed not to have been granted a stay on the preliminary reference being made to the CJEU. We intend on continuing with seeking leave to appeal the High Court’s decision to the Irish Supreme Court.”

Schrems’ view is there’s no case for Facebook to make that the legal questions involved here are moot under GDPR, just as he says “no such appeal exists in Ireland” for Facebook to try to appeal against a referral to the CJEU via the Irish Supreme Court — even though the company is trying to do both. (But, as the judge has pointed out, it appears to like trying to buy itself time.)

Depending on how quickly the CJEU rules we’ll soon know for sure — perhaps in a little over a year’s time.


Source: TechCrunch

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