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Archivo del Autor: Belen De Leon

Volvo cars in Europe will be able to warn each other about hazardous road conditions

Volvo is taking technology that allowed some of its vehicles to communicate with each other about hazardous road conditions and expanding it across Europe in an effort to increase safety, the automaker announced Monday.

Volvo first introduced its Hazard Light Alert and Slippery Road Alert system in 2016 on Volvo’s 90 Series cars. But it was limited to drivers in Sweden and Norway. Next week, Volvo will make the system available to drivers across Europe.

The system will be a standard feature on all 2020 model-year vehicles in Europe. The system can be retrofitted on select earlier models as well, Volvo said.

The vehicle-to-vehicle communication tech that enables the Hazard Light Alert and Slippery Road Alert system uses a cloud-based network to communicate between vehicles. For instance, when an equipped Volvo vehicle switches on the hazard light, a signal is sent to all nearby Volvo cars connected to the cloud service.

The slippery road alert works by anonymously collecting road surface information from cars farther ahead on the road and warning drivers approaching a slippery road section in advance.

“Sharing real-time safety data between cars can help avoid accidents,” Malin Ekholm, head of Volvo Cars Safety Centre said in a statement. “Volvo owners directly contribute to making roads safer for other drivers that enable the feature, while they also benefit from early warnings to potentially dangerous conditions ahead.”

The expansion of the system is the latest in a series of efforts by Volvo to improve safety within its portfolio and across the industry. Volvo said, as part of its announcement, that it has opened a central digital library of all of its past safety research, dating back to the 1970s.

Volvo Cars reiterated its call to the rest of the car industry to join it in sharing anonymized data related to traffic safety across car brands.

Earlier this year, Volvo said it would limit speeds on all new vehicles, beginning with its 2020 models, to about 111 miles per hour.

It also plans to integrate driver monitoring systems into its next-gen, SPA2-based vehicles beginning in the early 2020s. That system will be able to take action if the driver is distracted or intoxicated. The camera and other sensors will monitor the driver and will intervene if a clearly intoxicated or distracted driver does not respond to warning signals and is risking an accident involving serious injury or death. Under this scenario, Volvo could limit the car’s speed, call the Volvo on Call service on behalf of the driver or cause the vehicle to slow down and park itself on the roadside.


Source: TechCrunch

YouTube’s algorithm added 9/11 facts to a live stream of the Notre-Dame Cathedral fire

Some viewers following live coverage of the Notre-Dame Cathedral broadcast on YouTube were met with a strangely out of place info box offering facts about the September 11 attacks.

BuzzFeed first reported the appearance of the misplaced fact-check box on at least three live streams from major news outlets. Twitter users also took note of the information mismatch.

Ironically, the feature is a tool designed to fact check topics that generate misinformation on the platform. It adds a small info box below videos that provides third-party factual information from YouTube partners — in this case Encyclopedia Britannica.

YouTube began rolling out the fact-checking “information panels” this year in India and they now appear to be available in other countries.

“Users may see information from third parties, including Encyclopedia Britannica and Wikipedia, alongside videos on a small number of well-established historical and scientific topics that have often been subject to misinformation online, like the moon landing,” the company wrote in its announcement at the time.

The information boxes are clearly algorithmically generated and today’s unfortunate slip-up makes it clear that the tool doesn’t have much human oversight. It’s possible that imagery of a tower-like structure burning triggered the algorithm to provide the 9/11 information, but we’ve asked YouTube for more details on what specifically went wrong here.

Update: A YouTube spokesperson provided TechCrunch with the following statement.

We are deeply saddened by the ongoing fire at the Notre Dame Cathedral. Last year, we launched information panels with links to third party sources like Encyclopedia Britannica and Wikipedia for subjects subject to misinformation. These panels are triggered algorithmically and our systems sometimes make the wrong call. We are disabling these panels for live streams related to the fire.


Source: TechCrunch

Apple hires A&E’s Molly Thompson as its head of Documentaries

In addition to a growing lineup of scripted fare, documentaries will be another key focus for Apple TV+, the company’s new streaming service set to launch in May. According to a new report today from Variety, Apple has hired A&E’s Molly Thompson as its head of Documentaries.

Thompson’s experience at A&E includes founding its documentary production arm, A&E IndieFilms, back in 2005. While there, several of its films earned Emmy nominations, including “Life, Animated,” “Cartel Land,” “Jesus Camp” and “Murderball.”

Cartel Land,” “Life, Animated” and “The Tillman Story,” combined, went on to win more than a half-dozen Emmys, along with other industry awards.

Thompson also has exec produced: “The Clinton Affair,” Charles Ferguson’s “Watergate” docu-series, “Studio 54,” “City of Ghosts,” “The Imposter,” “Drunk Stoned Brilliant Dead: The Story of the National Lampoon,” “The Unknown Known: The Life and Times of Donald Rumsfeld,” “No Place on Earth,” “Cave of Forgotten Dreams” and “Being Evel” — some of which were under A&E’s History Films banner.

For Lifetime Films, she exec produced two narrative features: “Lila & Eve,” which starred Viola Davis and Jennifer Lopez and premiered at the 2016 Toronto International Film Festival; plus Eleanor Coppola’s “Paris Can Wait,” with Diane Lane and Alec Baldwin.

Thompson’s hiring indicates Apple’s interest in bringing content that will appeal to those who don’t regularly watch traditional TV, but instead like to stream more educational fare — like documentary films and docu-series, biographies, shows with a historical focus and other non-fiction. Plus, documentaries would give Apple a way to compete early on for Emmy attention, even if its scripted series fail to gain critical praise.

Documentaries also represent another means of competing directly with Netflix, where the format has become a huge draw for subscribers — even zeitgeist-y, at times. Netflix today has a range of documentaries that nearly everyone has seen, or has at least heard of, like “Making a Murderer,” “Wild Wild Country,” “13th,” “Amanda Knox,” “Fyre,” “Amy” and many more. This month it will have another hit in this genre, with Beyoncé’s Coachella documentary, out on April 17th.

Apple has already announced a few of its documentary efforts for Apple TV+, including Oprah’s docu-series, one of which is co-produced with Prince Harry; as well as a docu-series about extraordinary homes; and Victoria Stone and Mark Deeble’s documentary about an elephant matriarch, “The Elephant Queen.” The latter, which Apple picked up at the Toronto International Film Festival, was one of its first feature film buys.

Image credit: IMDb


Source: TechCrunch

New USPTO Guidance May Clear Path for More Technology Patents

On January 4, 2019, the United States Patent and Trademark Office (USPTO) released new Patent Examiner Guidance (“the Guidance”) for subject matter eligibility. The updated guidance could benefit any technology patent applicant who has a computer-related invention – from smartphones to artificial intelligence – and who has previously had difficulty acquiring patents under the USPTO’s procedures for determining patent subject matter eligibility.

This Guidance represents the current methodology for analysis of patent claims under 35 U.S.C. § 101 in view of Mayo v. Prometheus, Alice v. CLS Bank Intl., and subsequent cases, and is intended to provide a more concrete framework for analyzing whether patent claims, as a whole, are merely “directed to” an abstract idea.  The Guidance will supersede certain analysis methods articulated in previous guidance, particularly the Examiner’s “Quick Reference” that previously sought to categorize abstract ideas.

The Alice/Mayo Test

The Guidance acknowledges that applying the Alice/Mayo test to analyze claims under § 101 has “caused uncertainty in this area of the law” and has resulted in examination practices that prevent stakeholders from “reliably and predictably determining what subject matter is patent-eligible.” As such, the Guidance attempts to remedy this uncertainty by revising the USPTO’s analysis under the first step (Step 2A) of the Alice/Mayo test:


Source: TechCrunch

The other micro VC allocation model

Portfolio co-founder: Our other investors want to participate but our lead wants to take most of the round.

Me: OK

Portfolio co-founder: So that means pro-rata is going to be tough.  

Me: Let’s see what everyone says.

A few days later.

Portfolio co-founder: The math worked out. Some people didn’t do their pro-rata and others did more.

Me: In theory, this shouldn’t happen because everyone is doing their pro-rata, but this is usually how things seem to work out. The round wasn’t going to be put at risk over pro-rata.

We’re always curious to see how rounds come together when there is limited capacity for both new investors and existing investor pro-rata. For the most part, there is supposed to be one core investor strategy; the maintainers, who use reserves and then opportunity funds or SPVs to avoid or minimize dilution. Sometimes there are also accumulators, who use multiple rounds to expand their ownership, but this is more common in private equity outside of venture capital.

The maintainers are pretty well understood. They have the typical $1 in reserve for each $1 invested, mirroring a common strategy espoused by some of the best VCs. USV shared a great example including fund allocation assumptions. Accumulators are a little more surprising to meet, but Greenspring, which is uniquely positioned to observe a lot of early-stage managers, hint that one of their top performing managers uses the accumulator strategy to get to more than 20 percent, fully diluted at exit. That’s not the whole story though, because, unlike USV, the strategy also involves some additional important assumptions, most notably investing in less-competitive geographies.

We’ve seen other allocation strategies, but we don’t see a lot written about them. For example, some investors tend to be among the first checks and, going through our co-investments with them, it’s clear they don’t always take pro-rata, but don’t seem to fuss about it. Here’s a great example of how one of today’s very best seed-stage investors, Founder Collective, thinks about this:

We dilute alongside our founders over time. So we have the same incentives as our founders to increase the value of the company in future financings.

It’s easy to dismiss this as founder-friendly at the expense of LPs, but I suspect Founder Collective’s LPs don’t see it that way at all. It’s hard to know how often this positioning leads to a higher win rate on competitive deals, but let’s assume there is little difference. Does the math work?

Let’s assume a VC is buying 20 percent of the company and then riding the dilution train down to a fully diluted 5.2 percent on exit at Series F (thanks to Fred Wilson again; in this example, we’re using one of his recent frameworks with these exact numbers). For a $50 million fund, this works just fine. Interestingly, it looks similar to the result for a $100 million fund with reserves, but the later assumes that they can always secure pro-rata and they can make use of opportunity funds to get a bit more upside.

We’ve discussed this a lot as we deployed our last fund. The vast majority of people insisted we needed $1 for every $1 invested, but we found that, thanks to our fund size, the math seemed to work without significant reserves if we purchased enough ownership upfront and, as Founder Collective notes, it seems to align better with founders and our growth-stage co-investors.

Longer funnel (not wider)

We’ve seen two major changes since we first started investing 12 years ago. The first is well-reflected by a recent deck shared by Mark Suster at Upfront, and highlighted in the slide shown below. It seems like the top of the funding funnel is getting wider.

It’s true that seed stage has grown 3x in the last decade. But that doesn’t necessarily mean the funnel only got wider. It also made it taller, like the image below.

One way to think about this — what used to be a sequence of “seed, A, B” is now, often, but not always a new sequence of “pre-seed, seed and seed+.”

Series A investments are totally different today than they were 10 years ago. But the Series A round is much more competitive because a lot of new money has shown up to play here and this makes accumulation and maintain models much harder, especially for seed and Series A stage-focused funds.

Who are these new players adding to the competition? Some are new VC funds, but a lot of them are corporate VC (CVC) funds.

Where is all this CVC money going? We’re pretty sure it’s not in pre-seed or seed, though there is some CVC fund of fund activity into seed funds, but that’s not reflected in this data. And we’ve only seen a few instances of seed+ CVC activity. Interestingly, to find a good example of this, you probably don’t have to look further than Lyft’s S-1, where GM and Rakuten join better-known tech CVC Alphabet.

Regarding the founder conversation referenced earlier, the round is coming together because of a strategic investor who is leading it. This has become more common. Like Lyft’s team, founders understand tech and value sector-specific corporate investors as partners.

We don’t think we’ll see a slowdown in CVC interest any time soon because, much like their big tech counterparts, incumbents in sectors from transportation and real estate to energy and infrastructure all realize that the startup ecosystem is now an extension of their product development process — VC and M&A are now an extension of R&D.

It’s not just that there is more money competing for Series A or B deals now. That money has different goals beyond pure financial returns and the value add is different from VCs. CVCs often bring distribution, ecosystem and domain expertise. So the end result is more competitive A or B rounds and more complex pro-rata discussions.

Strategic pro-rata shuffle

Founders are still trying to sell no more than 20 percent of their company, while traditional VCs are trying to buy 20 percent and we still have to figure out pro-rata for existing investors while making room for growing interest from strategic investors.

For Urban Us, we’ve embraced these new round dynamics — they may make growth-stage allocations a bit more tricky, but strategic investors can deliver a lot of value. One clear result — it’s sometimes better for us not to take our pro-rata at series A.

High conviction before Series A

We tend to think of high conviction as a Series A idea — i.e. Series A investors who accumulate, maintain or use opportunity funds. But the same concept is now at work in the tall part of the funnel — the two or three stages before Series A.

We’ve long been fans of accelerator models like YC, Launch or Techstars. We’ve co-invested with all of them. While there was a sense that “not following” presented signaling risk, accelerators have found creative ways to sidestep the issue — for example, joining rounds only if there is another lead. So this means they can concentrate holdings before Series A.

We now have our own accelerator, URBAN-X, because we’re best positioned to help address some unique challenges for the urbantech companies we’re looking to back. This allows us to be the first investor in most of our portfolio companies. And we can own enough of the company before Series A so we can still achieve our fully diluted ownership targets on behalf of our LPs.

As we look over scenarios related to when we first invest or when we think it will be hard to get pro-rata, we can find a few different paths to a target ownership position at exit. Some variations are shown below reflecting our approach for our newest fund.

The math

Obviously there are many different paths to ownership, especially in a world with two or three rounds happening before Series A. We’ve run a few simulations to understand the impact of different follow-on strategies. To explore different seed-stage allocation approaches, we modified Fred Wilson’s “Doubling Model” to explore a few of the variations. Only one change — we replaced Series A with seed+ as it’s more inline with what we’ve seen. It’s also important because it implies one less round of dilution in some seed strategies. We also assumed most seed investors invest in syndicates, so they don’t buy 20 percent unless they’re on the large end of fund sizes – i.e. $100 million+.

We explored what happens when seed investors make a single investment to buy 10 percent of a company and never follow-on and how might that compare to selective B and C-stage follow-ons or using progress from seed to seed rounds to avoid dilution on more promising companies. There is also the question of the implied fund size and number of investments — if you can make high conviction bets early, you get to make more investments even with a relatively small fund. But eventually you bump into time constraints for partners — getting to 40 deals with two partners can work, but presumes you are not a lone wolf partner and that you make hard choices about where to allocate time — which often seems harder than allocating money.

Up to about $50 million there are a range of possible strategies that can work, but diluting with founders allows more investments, even with smaller funds versus more traditional aggressive follow-on. More deals may be essential to the success of this model. Here’s our modified version of the doubling model (changes to the model are noted with blue cells).

Diluting alongside founders

VCs routinely remind founders that they shouldn’t worry about dilution because they will have a smaller share, but the pie will be bigger. Mostly this math works for founders, so why not VCs? Founder Collective is the only other firm we found that is explicit about aiming for this result. And this may be even more necessary today to make room for more strategic VCs to join traditional VCs.

At Urban Us our investment model is focused on getting fully diluted ownership before Series A. If we can do some pro-rata or sometimes if we need to do a bridge to buy teams more time, we’ll do that. And we’ll be equally excited when founders are able to bring in great new investors to help them through their next growth stage, regardless of their allocation strategy.


Source: TechCrunch

Game of Thrones season 8 opening credits hint at events to come – CNET

The final season opening dives inside the Stark crypt and the Red Keep.
Source: CNET

Mueller report on Trump, Russia expected to be released Thursday – CNET

US Attorney General William Barr sent a four-page summary of the report to Congress in March.
Source: CNET

Federal jury convicts malware creators of hijacking 400,000 computers

Two Romanian men have been convicted by a federal jury for using malware to hijack 400,000 computers in order to steal credit card information, engage in cryptomining, and commit online auction fraud, among a number of other crimes.

The post Federal jury convicts malware creators of hijacking 400,000 computers appeared first on Digital Trends.


Source: Digital trends

Notre Dame Cathedral Fire: What we know so far – CNET

Almost 1000 years of French history is burning.
Source: CNET

YouTube showed a link to 9/11 info on Notre Dame fire videos – CNET

The Google-owned site says its algorithm made the “wrong call.”
Source: CNET

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