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Archivo del Autor: Belen De Leon

Simple Experiments Show How Motion Is Equivalent to Heat

A big idea in thermodynamics is the mechanical equivalent of heat, a concept that spells out how moving objects and changing temperatures relate.
Source: Wired

Article 13: EU's controversial copyright law due for final vote – CNET

The vote could change the way memes spread and gifs are shared in Europe. Tech companies and citizens alike are not impressed.
Source: CNET

2019 Nissan Leaf Plus officially achieves 226-mile range, but there's a catch – Roadshow

Only the base S model gets that 226-mile rating.
Source: CNET

In Germany, Solar-Powered Homes Are Really Catching On

The country is getting closer to the solar home revolution: a panel on every roof, an EV in every garage, and a battery in every basement.
Source: Wired

Can AI Be a Fair Judge in Court? Estonia Thinks So

Estonia plans to use an artificial intelligence program to decide some small-claims cases, part of a push to make government services smarter.
Source: Wired

Liveblog: Live Updates From Apple's March 25 Event

On Monday morning, Apple hosts an event to outline plans for its news distribution and media streaming services. Our live coverage starts at 9 am Pacific.
Source: Wired

On the Trail of the Robocall King

An investigator set out to discover the source of one scammy robocall. Turns out, his target made them by the millions.
Source: Wired

Gjirafa raises a $6.7M Series B from Rockaway Capital to digitise the Balkans

There’s nothing like a niche language to create a sort of lock-in for a startup, and that’s exactly what’s happened with e case of Gjirafa. Focusing exclusively on Albanian-speaking countries, co-founder and CEO Mergim Cahani started out developing an Albanian language search engine and then literally digitizing the country’s information, from bus timetables to a database of local businesses and venues, and beyond.

Investors were been attracted to this ’emerging-market approach’ and put in a $2 million Series A three years ago to “grow the Balkans’ internet economy” by digitizing and indexing information in Albania and Kosovo, thus making Gjirafa the regional leader in search, e-commerce, and online advertising.

Today it claims 3 million monthly unique users across its services and has now raised a series B round of $6.7M from Rockaway Capital, which has been backing the company since 2016. The new funding is intended for scaling the current products regionally.

The Series B will allow the company to double their current team (currently at 70 full time, and about 100 in total with part-time), scale with the existing products regionally, and deliver other digital services that aren’t available in the region.

Dušan Zábrodský, investment partner at Rockaway, says: “Mergim Cahani and his team validated our trust and truly succeeded in building a centrepiece of innovation for the whole region. Thanks to this very positive experience we are committed to build up a digital economy in the region and we actively explore new investment opportunities where we can use our knowledge to digitalize traditional industries.”

He says Rockaway group’s investment is long-term and strategic because they think Gjirafa could become and an entire platform/network of additional services that will be used throughout the region.

Using the same strategy, Rockaway previously found success in the DACH region, where it built up an online travel group under the Invia Group brand, and in the field of e-commerce through Mall Group, which operates on seven markets in the CEE region. These groups have contributed significantly to Rockaway’s revenues, which crossed the threshold of EUR 2 billion in 2018.

Gjirafa has become the largest e-commerce player in the region having a leading OTT product: GjirafaVideo and GjirafaStudio, equivalent to Hulu and Netflix; producing own content and currently has about 1 million minutes of video consumed a day (and growing double digits on monthly basis), and over 80 live channels online.

Gjirafa, Inc., is the fastest growing company in the region, and the growth is impressive at 314% CAGR. To put it in perspective: when GDP indicators are normalized for the Balkans region vs the US, it has an equivalent revenue growth as Google had between 2001-2004 and continuing on the same path.


Source: TechCrunch

Omers Ventures outs €300M European fund — Q&A with Managing Partner Harry Briggs

Omers Ventures, the venture capital arm of Canadian pension fund Omers, is officially launching a new €300 million fund aimed at European technology startups.

Headed up by Harry Briggs, who was previously at BGF Ventures, Omers Europe will back companies at Series A to B stage. The new fund will typically invest between €5m-€10m per round, while also having the capacity to follow on in future rounds for the most promising portfolio companies.

Prior to his time at BGF — which ended rather abruptly due to “strategic changes” at the U.K. firm — Briggs was previously at Balderton Capital. His investments are said to include UK unicorn The Hut Group, Magic Pony (acquired by Twitter in 2016), GoCardless, Paddle, Touch Surgery, Appear Here and Revolut.

He also has decent entrepreneur stripes, having founded and exited Firefly Tonics, a health drinks company, which he expanded to 35 countries, before selling to private equity firm Langholm Capital.

Meanwhile, according to my sources, Briggs joined Omers some months ago and has been busy recruiting a small team for Omers in Europe.

Joining him at launch is Tara Reeves, who was most recently a Partner at LocalGlobe and is said to have led investments in Bricklane, Cleo, Cuvva, Floodflash, Tide and Trussle, providing her with insurance tech and finntech expertise. Tara also co-founded Turo, a car-sharing marketplace that has raised over $200 million.

Also joining Omers in Europe is Henry Gladwyn, who previously managed seed investments for the founders of DeepMind.

Below follows an email Q&A with Omers Europe Managing Partner Harry Briggs where we discuss the new fund’s remit, why Omers is different to other funds in terms of how it is financed, the influx of U.S. capital into Europe, and Briggs’ advise for dealing with VC (and journalist) egos.

TC: Omers Ventures in Europe plans to do Series A and B investments, typically writing cheques between €5m-€10m per round, as well as following on. Can you be more specific regarding the types of companies, technologies, business models or sectors you are focussing on?

HB: I’d summarise it as “consequential companies that will have meaningful impact on society”: we’re unusual in that our funds don’t come from wealthy family trusts – they’re the retirement savings of 500,000 municipal workers – people who make Ontario society function. OMERS’ other assets follow a similar theme – OMERS builds and owns the airports, utilities, railways, hospitals and commercial and residential buildings that make up the fabric of major world cities. So in OMERS Ventures Europe we want to invest in the companies reshaping how we live and work: for example, Health-tech, FinTech, PropTech, Mobility – obviously because we think there will be huge European successes in those areas to make great commercial returns for the retirement plans of the OMERS members; but also because they’re areas we’re passionate about, that OMERS members care about, and where there are obvious synergies with the other parts of OMERS.

TC: You’ve recruited Tara Reeves from LocalGlobe and Henry Gladwyn, who previously managed seed investments for the founders of DeepMind, but I gather you’re not done yet. What other recruitment plans does Omers Ventures have in Europe, either in the investment team or operations?

HB: We plan to build gradually to a team of 7 or 8 investors – from managing partner to associate level. We’re particularly looking right now at investors and operators with strong Continental European connections, and people with health-tech and deep-tech experience. But we’re in no rush. Toronto already has a superb operations team helping portfolio companies on talent and marketing, who are on hand to help our companies here – but in due course as our portfolio grows we will add operations support here too.

TC: What can we expect Omers Ventures to bring to Europe that doesn’t already exist, aside from another €300 million of venture capital?

HB: First, how many European Venture funds can tap into colleagues on every continent, and connections to giant assets under the same roof like Thames Water, Associated British Ports, US healthcare chains or a $50B property portfolio:- if you’re a health-tech, FinTech, Mobility or Prop-tech company, OMERS Ventures can offer a different level of experience and connections.

Second, I see founders and consumers as increasingly ethics-conscious: and in that environment it matters where your funds come from, and what else you’re investing in. Founders can know that if they build a giant business with OMERS Ventures money, they won’t be making billionaires even richer – they’ll be improving 500,000 Canadian workers’ retirement plans.

Technology will always have positive and negative impact, but in recent years we’ve seen tech giants become instruments of mass surveillance and mass-manipulation, undermining democracy and societal cohesion in the reckless pursuit of power and profit. The tech backlash is, finally, coming, and I think being a fund that questions the longer-term societal impact of our investments could help set us apart for the next generation of founders. Easier said than done, of course.

Lastly, our set-up means we’re 100% aligned with long-term value creation – OMERS needs to fund pensions 50+ years out – so founders can trust that we’ll always be pushing for the long-term great outcome, not short-term profits.

TC: In your announcement blog post you write that more and more VC firms are using data and technology to source deal-flow and reach beyond location and investment team size. How is Omers Ventures in Europe planning to use technology?

HB: We’re already working on building this with a fantastic team: Europe is a really unusual ecosystem, because talent is spread across so many different cities with so many different languages and cultures. That poses a big challenge to funds trying to find the biggest opportunities across the continents through network alone. But increasingly the data is there to flag many of the most exciting companies at an early stage, even if they’re outside the major hubs. This can be an advantage for us in the short-term, but we believe this will be table stakes in the future of VC.

TC: Related to this, you say that even though the “big four” Series A firms in Europe — Index, Accel, Balderton and Atomico — have managed to remain dominant over the last ten years, U.S. funds like Sequoia, Benchmark, Bessemer, and A16Z are threatening this dominance. Is this a good or bad thing for the European ecosystem?

HB: Undeniably this is a great thing for founders: more money for good companies, more competition among funds to provide the most value to founders, and more great funds to coinvest with. There may be some fair-weather tourists among the US funds, who disappear when times get tough – but generally we have much to learn from the top US funds and it should raise our game.

TC: You also write that switching VC jobs is “complicated” and then ambiguously refer to “half-truths” and “soul searching,” amongst other things. It’s hard not to interpret this as a reference to your abrupt departure from BGF after the firm had a change in strategy. Perhaps you can clarify?

HB: I’m usually a pretty frank / candid person – but during a job-change you always have to keep that tendency in check: trying to keep my plans from journalists has been a particular challenge, as you know Steve 🙂 Also, life is short, the pace of VC makes it best-suited to the young, and VC works best in long stints (it takes years to see investments through, and carry typically vests over many years), so one can’t make too many mis-steps… What mattered most to me was being able to have substantive impact, working with super-smart, high-integrity people: and I feel I’ve landed in the perfect place.

TC: In the same blog post you write that “The ego’s of VCs still largely exceed our value,” which is something that is bound to resonate with some of our readers. How much is VC ego a problem and what advice would you give to founders with regards to managing a VC’s ego?

HB: Most of the VCs I know are impressive, thoughtful people whom I look up to. But we’re all vulnerable to pride and insecurity and ego – it’s human nature to give ourselves too much credit when things go well, and cast about for someone else to blame when they don’t. VC egos only really get tested in the tough times – so we’ll learn much more if and when the correction comes. My advice to founders would be, test VCs for how open they are about their mistakes, how much they seek to learn and grow from them rather than divert blame for them; ask when they’ve changed their minds about something important. And see how they talk about founders:- to quote Anton Ego in Ratatouille, “We risk very little yet enjoy a position over those who offer up their work and their selves to our judgment.” – good VCs should have the humility to admit that whilst this job is in so many ways a huge privilege, we remain mere parasites compared to the people doing the real work of building the businesses.

TC: Finally — while we’re on the subject of egos — do you have any advice for founders on how to manage journalist egos, too? My friends tell me they can be pretty huge.

HB: Ha! Insecurity breeds ego, and journalism has been a pretty insecure profession for some time… But thankfully there are diamonds in the rough!


Source: TechCrunch

How to watch the live stream for today’s Apple keynote

Apple is holding a keynote today on its campus in Cupertino, and the company is expected to talk about new services. Don’t expect any new device, today’s event should be all about content. At 10 AM PT (1 PM in New York, 5 PM in London, 6 PM in Paris), you’ll be able to watch the event as the company is streaming it live.

Rumor has it that the company plans to unveil multiple new services. The most anticipated one will be a new video streaming service that should compete with Netflix, Amazon Prime Video and others. In addition to that service, Apple will unveil an Apple News subscription to access magazines and premium articles for a flat monthly fee.

But we might also hear about a mysterious credit card and a gaming subscription service. Details are still thin, so it’s going to be interesting to hear Apple talk about all those services.

If you have an Apple TV, you can download the Apple Events app in the App Store. It lets you stream today’s event and rewatch old ones. The app icon was updated a few days ago for the event.

And if you don’t have an Apple TV, the company also lets you live-stream the event from the Apple Events section on its website. This video feed now works in all major browsers — Safari, Microsoft Edge, Google Chrome and Mozilla Firefox.

So to recap, here’s how you can watch today’s Apple event:

  • Your favorite web browser on the Mac or Windows 10.
  • An Apple TV with the Apple Events app in the App Store.
  • Google Chrome on your Android phone.
  • And here’s the link to the live stream.

Of course, you also can read TechCrunch’s live blog if you’re stuck at work and really need our entertaining commentary track to help you get through your day. We have a team in the room.


Source: TechCrunch

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