Year: 2019

25 Feb 2019

Helping children overcome their mobility challenges, Trexo Robotics gets a Y Combinator boost

Manmeet Maggu and Rahul Udasi didn’t know it when they met at the University of Waterloo 11 years ago, but the bond they forged in late-night study sessions as roommates has helped drive their work to create an exoskeleton that provides mobility for children with disabilities.

The fruit of that labor is Trexo Robotics, which will graduate as part of the latest batch of Y Combinator’s winter 2019 cohort.

In the three years since Udasi and Maggu launched their company, Trexo has gone through the Techstars accelerator program in New York and raised $720,000 in seed funding. But the roots of the company extend back to Maggu’s senior year at Waterloo, when he learned that his nephew in India had been diagnosed with cerebral palsy.

The disease, which affects millions around the world and at least 500,000 children in the U.S. alone, was not something Maggu knew much about. But with the diagnosis of his nephew, he began to learn.

We started looking at what cerebral palsy is and what it would mean to him,” says Maggu. “For him it meant that he would spend his entire life in a wheelchair and I knew the tremendous negative health effects associated with sitting.”

At first, the family looked at ways to encourage the child to walk outside of physical therapy, with no results.

“Initially we were like, let’s buy him a robotics system or an exoskeleton, but after looking around we saw that there was nothing out there,” says Maggu.

That’s when Maggu determined he would make the development of the exoskeleton the focus of his senior design thesis, back in 2012.

Trexo co-founders Manmeet Maggu and Rahul Udasi (Image courtesy of Trexo Robotics)

“After that, everybody went our own ways but I couldn’t stop working on this,” Maggu recalls. “I kept working on this on the side. I was just working in my apartment doing design, doing 3D printing there.”

By that time, Maggu and Udasi had gone their separate ways. Maggu worked on the project on the side while pursuing his career in the technology industry. He worked at BlackBerry and Qualcomm, but kept in touch with his college friend, Udasi, who worked for a spell at Willow Garage and a few other robotics companies, before returning to Canada to study for a master’s degree in robotics at the University of Toronto.

Maggu had also returned to Toronto to work on a masters in business administration.

But throughout that time, using a low-end printer that he bought for $600, Maggu kept prototyping. Then, when the two were living together, Maggu would ask Udasi, the robotics expert, for his help.

By 2017 the two men had developed a functioning prototype and flown to India to give it to their first test patient — Maggu’s nephew.

“The first time we tried it it didn’t work,” says Maggu. “But my brother has a factory in India in Delhi, so we made some more modifications and tried it out again and I watched my nephew try to walk with the device for the first time.”

After progressing through the Techstars accelerator and raising its seed round, Trexo now has around six versions of its exoskeletons in private homes and hospitals. The company is conducting a clinical study at the Cincinnati Children’s Hospital and has four paying customers in Canada.

These are still devices that aren’t affordable for most Americans — not by a longshot. Trexo is pursuing a direct-to-consumer approach that would see their technology selling for $899 per month through a lease model with a $1,000 down payment and financing for 36 months. Customers can also lease the product for $999 with at least a required 12-month lease period, or they can buy a Trexo exoskeleton for $29,900.

The company is marketing the device as an exercise and therapy device, which means that it can avoid some of the regulatory requirements to bring the product to market under the current regulations from the Food and Drug Administration, which oversees medical devices.

Maggu and Udasi ultimately see Trexo tackling more than just treatment for children with mobility issues. Indeed, Maggu sees opportunities for the company to begin developing products for elder care as well.

“We view this as much more of a consumer product,” says Maggu. “We strongly believe that wearable robotic systems are going to play a huge role in the future to come.”

[gallery ids="1788608,1788609,1788610,1788611,1788612,1788616,1788617"]

25 Feb 2019

Bioware’s high-flying ‘Anthem’ falls flat

Anthem is the first attempt by Bioware (of Mass Effect and Dragon Age fame) to tap into the well of cash supposedly to be found in the “game as platform” trend that has grown over the last few years, with Destiny, Warframe and Fortnite as preeminent exemplars. After a botched demo weekend dampened fan expectations, the final game is here — and while it’s a lot better than the broken mess we saw a few weeks ago, it’s still very hard to recommend.

I delayed my review to evaluate the game’s progress after an enormous day-one patch. While it is always premature to judge a game meant to grow and evolve by how it is immediately after launch, there are serious problems here that anyone thinking of dropping the $60 or more on it should be aware of. Perhaps they’ll all be fixed eventually, but you better believe it’s going to take a while.

I’d estimate this is about half the game it’s clearly intended to be; it seems to me we must soon find out that most of Anthem, supposedly in development for five years or more, was scrapped not long ago and this shell substituted on short notice.

The basic idea of Anthem is that you, a “freelancer” who pilots a mechanized suit called a “javelin,” fly around a big, beautiful world and blast the hell out of anything with a red hostility indicator over its head, which in practice is damn near everything. Once you’re done, you collect your new guns and gadgets and head back to base to improve your javelin, take on new missions, and so on.

If it sounds familiar, it’s basically an extremely shiny version of Diablo, which established this gameplay loop more than 20 years ago; its sequels and the innumerable imitators it spawned have refined the concept, bolstering it with MMO-style online integration, “seasons” of gameplay, and of course the inevitable microtransactions. People play them simply because it’s fun to kill monsters and see your character grow more powerful.

So Anthem is in good company, though of course for every success there are probably two or three failures and mediocre titles. Destiny has thrived in a way only because of its fluid and satisfying gunplay, while a game like Path of Exile leans on bulk, with skill trees and content one may never reach the ends of.

Anthem, on the other hand, lacks the charms of either. It is wildly short on content and its moment-to-moment gameplay, while competent and in some ways unique, rarely has you on the edge of your seat. It’s a very mixed bag of interesting concepts and disappointing execution, coupled with some truly baffling user experience issues.

I’ll cover the good parts first: the basics of flying around and shooting guys are for the most part solid. There’s a good variety of weapons, from hand cannons to shotguns and sniper rifles, with meaningful variations within those groups (though they usually boil down to rate of fire). You feel very cool during engagements, picking off enemies, dodging behind cover, flying to a new vantage point, and so on.

Each of the four javelins has a good pile of themed special abilities that significantly affect how you play; for instance, the Storm starts out with (basically) non-damaging ice shards that freeze enemies, setting them up for a damaging combo from its lightning strike — but soon you can swap those out for fiery explosions and a charge-up blast of cold, and so on. The synergies are somewhat limited in that some abilities clearly only work with some others, but there’s fun to be had experimenting. I played with three of the four javelins available (more to come, apparently) and they were all very distinct styles.

Damn.

The graphics really are lovely, from the future-past desert chic of Fort Tarsis to the lush jungle cliffs of the world you’ll be exploring. The light and landscapes are beautiful, and the character models are, too. Firefights look chaotic and splashy, which they are. There are also lots of customization options, in terms of colors and materials anyway — there’s a puzzling lack of cosmetics to buy with in-game or real currency, only two or three available right now.

Unfortunately, that’s pretty much the extent of what Anthem gets right — and to be clear, it really can be fun when you’re actually in the middle of a firefight, blasting away, doing combos with friends, taking on hordes of bad guys. The rest is pretty much a mess. Here’s the greatest hits of how Anthem fails to operate, to respect the player’s time, and to generally speaking be a good game.

First and perhaps most egregious, the load screens are frequent and long. I timed it at more than 5 minutes from launch, and at least 3 or 4 different load screens, before I could actually play the game.

Get ready for a lot of this! And incidentally, many fire attacks don’t actually set up combos.

A long load time to bring up a huge world like Anthem’s I can understand. But load times to enter the screen where you change your gear? Load screens when you enter a small cave from the map? A load screen when you stray too far from your teammates and have to be teleported to them? A load screen when you finish a mission, then another before you can return to base — and another before you can equip your new gun? Oh my god!

This is compounded by a sluggish and over-complicated UI that somehow manages to show both too much and not enough, while inconsistent keys and interaction elements keep you guessing as to whether you need to press F or space or escape to go forward, hit or hold escape to go back, use Q or E to go through submenus or if you have to escape out to find what you’re looking for.

Equipment and abilities are mystifyingly under-explained: no terms like “+15% gear speed” or “+/-10% shield time” are explained anywhere, in the tutorial, documentation, or character screen. Because there is no character screen! For a game that depends hugely on stats and getting an overall feel for your build and gear, you have to visit five or six screens to get a sense of what you have equipped, its bonuses (if comprehensible), and whether you have anything better to use. Even core game systems like the “primer” and “detonator” abilities are only cursorily referred to, by cryptic icons or throwaway text. The original Diablo did it better, to say nothing of Anthem’s competition at the AAA level.

Navigating these menus and systems is doubly hard because you must do so not by just hitting a key, but by traveling at walking speed through the beautiful but impractical Fort Tarsis. It took a full 30 seconds for me to walk from my suit (the only place where you can launch missions) to a quest giver. And when you start the game, you start in a basement from which you have to walk 20 seconds to get to your suit! Are you kidding me?

A common sight.

Even when you’re doing what the game does best, zooming around and getting in firefights, there’s a disturbing lack of mission variety. Almost without exception you’ll fly to a little arena — some ruins or a base of some kind — and are immediately alerted of enemies in the area. They warp in at a convenient distance, often while you watch, and attack while you stand near a gadget (to advance a progress bar) or collect pieces to bring back. Some more powerful guys warp in and you shoot them. Fly to next arena, rinse and repeat.

Sure, you could say “well it’s a shooter, what do you expect?” I expect more than that! Where are the aerial chases the intro leads you to believe exist? Enemies all either stand on the ground or hover just above it. They don’t clamber on the walls, get to the top of towers, shoot down on you from cliffs, climb trees, build gun emplacements. You don’t defend a moving target like the “Striders” (obviously AT-ATs) you supposedly travel in; bridges and buildings don’t crumble or explode; you don’t chase a bad guy into a big cave (or if you do, there’s a loading screen); the “boss” type enemies are often just regular guys with more life or shields that recharge in the time it takes you to reload. Where are the enemy javelins? The enemy Striders? 90 percent of what you kill will be groundbound grunts taken down in a flash. For a game in which movement is emphasized and enjoyable, combat involves very little of it.

The campaign, which is surprisingly well acted but forgettable, seems like it was tacked on in a hurry. Amazingly, a major cutscene details a much more interesting story, in which a major city is overrun and destroyed and only a few survive. It struck me at the time that this might have been the original campaign and starting mission, after which you are logically relegated to the nearby Fort Tarsis and forced to fight for scraps. Instead you have a series of samey missions with voice-overs telling you what’s happening while you stand there and watch progress bars fill up.

At one point you are presented with four ancient tombs to track down, only to find that these amazing tombs aren’t missions but simply checklists of basic game activities like opening 15 treasure chests, killing 50 enemies with melee, and so on. At a point increasing these numbers was literally the only “mission” I had available in the game. And when I tried to join other people’s missions to accomplish these chores, half the time they were broken or already finished. Even trying to quit these missions rarely worked! (Some of these bugs and issues have been mitigated by patches, but not all.)

Spoiler warning! What do you think is in the tombs? A taxing dungeon full of traps, monsters, and ancient treasure? Nope! Literally just a tiny, empty room. And yes, there’s a loading screen — both in and out.

Oh, and because many of the missions are difficult or tedious to do solo, you’ll want to team up — except if you’re slow to load, the mission will commence without you and you’ll miss the VO. Whoops! And by the way, if you just want to test out a new gun or power, you’ll have to join a multiplayer “freeplay” session to do it, which is another handful of loading screens. I’m not even going to get into the failings of the multiplayer. Since you can’t communicate it’s basically like playing with bots. By the way, there’s no PvP so forget about skirmishing with your friends or randoms.

Even the loot you get is frustratingly low quality and unimaginative. Every gun or component is a standard model almost always with just slightly better damage than the last one you found, and perhaps a stat bonus. But the stat bonuses are boring and often nonsensical: do I really want an assault rifle that gives me 10 percent better damage with heavy pistols?

Where’s the fun? For comparison when I was playing Diablo III recently I found a pair of leg armor early on that produced a powerful poison cloud whenever I was touching 3 or more enemies. Suddenly I played differently, rushing into crowds of monsters and leaping out, then immobilizing them while their life ticked down. I changed out my weapons, focused on physical defense, poison buffs… all because of a pair of pants!

I’ve encountered nothing like that in 25 hours of Anthem. Every new power and gun is the same as the old one but with a higher number. Where’s the lightning bolt that also sets people on fire, or the plasma blast that always knocks down flying guys? The pistol that does double damage against one class of enemy, the sniper rifle that automatically chambers a new round instantly in one out of five shots?

You do eventually find some “Masterwork” items that have unique qualities, but even these are compromised by the fact that their stats are completely random (such as a bonus to the wrong damage type), necessitating a grind to make or find them over and over until you get one with bonuses that make sense.

So much of Anthem seems like it’s just missing. The campaign is half there; the controls and UI are half there; the loot is half there. The multiplayer is half there. Everything lacks a critical piece that makes it more than basically functional, and considering the game’s highly polished competition, this is inexplicable and inexcusable. I find it hard to believe this was in the works for five years when such elementary aspects like a character screen and working item descriptions aren’t included at launch.

It’s more than possible that with perhaps half a year of work the Bioware team — which seems to be painfully aware of the game’s shortcomings, if their responses to detailed litanies of complaints on the game’s subreddit are any indication — could make this game worth the price of entry. But right now I couldn’t recommend it to anybody in conscience, and I’m disappointed that a developer that’s created some of my favorite games dropped the ball so badly.

It’s too bad, because I feel the pull of the game, the basic chaotic fun at the heart of any good looter-shooter, because I feel like this can’t really be it. This can’t really be all my abilities, right? This can’t be every weapon? I liked Anthem when it was at its best, but that was so very little of the time I spent in it, and it took so much effort and patience on my part to even make those moments a possibility. I’ll be checking back in with the game in the hopes that it makes a Destiny-esque turnaround, but for now I have to say Anthem suffers from a failure to launch.

25 Feb 2019

With China tariffs delayed, Beijing faces startup dilemma

China is facing a challenging juxtaposition in the coming years: can the government remain in control of business and media while also opening up the country to the knowledge economy?

China has uplifted more humans in a shorter period of time than any other country in the history of the planet. That mesmerizing growth engine, though, is starting to face an intense slog. Economic growth has slowed considerably, and while there are vagaries to these indicators, it is clear that China needs to rebuild its economy as it migrates from industrials into services.

The future (of course) is all the buzzwords that linger in Silicon Valley coffee shops: innovation, startups, and entrepreneurship, mixed in with some Chinese flavors like indigenous technology development. China has designs to be the world-leader in semiconductors and artificial intelligence. To get there though, it needs to create the intellectual environment to push the frontiers of science and technology.

That’s the debate happening right now. On one side, you have this discussion from the New York Times’ Asia business columnist Li Yuan from this weekend. Chinese entrepreneurs are supposedly fleeing the country and seeking safer waters as the government clamps down on dissent and further censors China’s already narrow internet.

Few are predicting a crash, but worries over China’s long-term prospects are growing. Pessimism is so high, in fact, that some businesspeople are comparing China’s potential future to another country where the government seized control of the economy and didn’t ease up: Venezuela.

Only one-third of China’s rich people say they are very confident in the country’s economic prospects, according to a recent survey of 465 wealthy individuals by Hurun, a Shanghai-based research firm. Two years ago, nearly two-thirds said they were very confident. Those who have no confidence at all rose to 14 percent, more than double the level of 2018. Nearly half said they were considering migrating to a foreign country or had already started the process.

Minxin Pei, a well-known writer on China’s business environment and politics, was quoted by Yuan as saying:

“It’s clear to the private businesspeople that the moment the government doesn’t need them, it’ll slaughter them like pigs. This is not a government that respects the law. It can change on a dime.”

China’s government furiously denied the article’s contention, arguing in its international-focused mouthpiece that:

Because some Western media’s always tend to smear or even subvert China’s political system. Take Chen Tianyong’s story. With ulterior motives, the New York Times tells stories of certain Chinese individuals and then exaggerates the fact, thus declaring that there are serious problems in China’s economy and political system. This is their consistent practice and some foreign people who do not understand China will fall into the Western media’s trap. Chinese people always need to be on the alert for such ill-intentioned articles.

(Really, it’s fun to read the Global Times in the morning, in the way that taking a New York City subway at 8:15am on Monday morning is fun).

Yet, for all the entrepreneurs supposedly leaving, business opportunities remain robust. China’s government announced a huge economic development plan to create a “Greater Bay Area” region around Guangdong, Hong Kong, Macau and others to compete directly with California’s Bay Area (The Lesser Bay Area: Even Better Without High-Speed Rail!™). The goal is to build upon the region’s manufacturing prowess and increasingly turn it into a source for technology innovation. If the blueprint’s economic goals are achieved, the region would rival the United Kingdom in economic size.

But that’s a big “if.”

Few areas of the economy show the tension between openness and control better than the video game industry. China has once again stopped approving licenses for games in the country last week, after a brief session of approvals following last year’s nine-month long hiatus. Tencent, which produces some of the country’s most popular games, has lost nearly a quarter of its value in the meantime, even while it puts new streaming rules into effect to try to please the government.

China has incredible potential to lead in technology (and frankly beat the United States) if it can figure out how to open its economy, perhaps not to foreign competition, but at least to its own talent. Yuan quotes several entrepreneurs saying that Trump’s trade war with China may be the country’s last hope for a more open environment. Trump’s delay implementing tariffs on China this weekend, though, highlights the danger of relying on external forces to push domestic change. Only the Chinese can rebuild China’s economy.

Across the strait, Taiwan’s Silicon Valley is fizzling

Photo by keel via Getty Images

Becoming the next Silicon Valley is every government’s dream, although few seem capable of putting all the pieces together to make it happen. Take Taiwan, which has made innovation a key watchword as it attempts to survive in the penumbra of China’s overwhelming economy.

It’s Silicon Valley plans are fizzling from lack of action and a stagnant economy according to a translated article in the Taiwan Gazette:

But according to a member of the opposition Chinese Nationalist Party (KMT), the Agency’s goal is hindered by cumbersome business regulations and restrictive visas and work permits.

“Although [the government was] targeted to issue 2200 visas, the Plan so far has disbursed a mere two,” said Jason Hsu, a KMT legislator with experience in Taiwan’s innovation sector.

Hsu said the government has not succeeded in attracting any global entrepreneurs to the island since the plan was implemented. The Agency has been slow to implement the Asia Silicon Valley plan, prioritizing other aspects, or simply failing to match action with words.

Compounding Taiwan’s global talent crunch is competition from China and the US, with graduates moving house to take advantage of higher wages and better employment opportunities.

You can’t build an innovative economy if the talent can’t or won’t show up.

U.S. slowing H-1B visas

Image by Blue Diamond Gallery used under Creative Commons

Meanwhile, the United States has plenty of talent that wants to show up of course, but increasingly wants to prevent at least some of them from staying in the country.

We previously talked about how the Trump administration was attempting to simplify some elements of the H-1B process. Now, USCIS has released new data that shows a decline in the approval rate for H-1B visa applications. In 4Q18 only 75% of H1-B applications were approved, compared to 83% and 92% in 2017 and 2016 respectively.

The application process itself has also gotten more intensive, with reviewing agencies requesting additional evidence from roughly 60% of corporate applicants in the fourth quarter of 2018, compared to 46% and 28% in 2017 and 2016, respectively. The Wall Street Journal noted that Apple, Microsoft and others had a 99% approval rate, while Capgemini was much lower at 60%.

Maybe some of these applications are marginal, and protecting the wages of American workers is a fair compromise. More transparency here would be very helpful. But if the United States wants to maintain its technological edge, it needs smart and talented workers to congregate here. These new rates do not bode well.

Intel investing heavily to regain lost ground in the battle for chip supremacy

Photo via Intel Corporation

Written by Arman Tabatabai

At a press event last week, Intel’s newly appointed CEO Bob Swan reiterated the company’s strategy of investing heavily in growth markets outside of its core competencies. The company has taken heat for racking up its R&D bills, but Swan insisted that the chip giant needs to spend that money after struggling in recent years to keep up with the industry’s transition to new technologies.

Intel invested nearly $30 billion last year in R&D with a focus on memory, 5G, and graphical processing units (GPUs), which are seen as the best option for artificial intelligence, machine learning, and any use case needing strong parallelized processing capabilities. The FT quoted Swan as saying :

…“If we want to play in a much larger market we’re going to continue to invest more in R&D, there’s no question about that,” he said. “We don’t want to get too penny wise and pound-foolish so we don’t invest for the future.”

Traditional brand names chipmakers have lost dominant share by investing heavily in whatever was driving profits at the time, while ignoring emerging tech that has become the primary source of growth. Intel is now paying for their failure to move sooner.

Are India’s nationalist policies creating a closed internet?

Photo by MONEY SHARMA/AFP/Getty Images

Written by Arman Tabatabai

India is facing a similar dilemma to China on how open it wants to make its economy.

India’s government announced draft policies that will dictate operational requirements for ecommerce, social, and messaging companies. Following the country’s heightened focus around data localization, which we have discussed before, the set of proposals announced over the weekend would require internet companies to maintain locally-housed data centers and servers, impose a legal framework for regulating the movement of user data across borders, provide the government with access to company data stored abroad upon request, and force ecommerce websites or apps operating in India to have a locally registered business entity.

At the same time, the government also announced plans to institute policies that would require social networking and messaging platforms to swiftly remove content deemed “unlawful” or threatening to the “sovereignty and integrity of India.”

While the Indian government is trying to take a hardline approach to avoid the misconduct that has followed the expansion of big tech, they’re also putting further pressure on companies that already face a tougher, more expensive operating environment behind India’s “national champion” policy push as we’ve harped on before.

As India continues to move towards nationalist policies that make it difficult for companies to compete, a Chinese-style closed and censored internet increasingly seems likely.

Obsessions

  • We’re excited since Little Brown & Co just announced a retrospective from Netflix co-founder and original CEO, Marc Randolph, coming this fall and entitled “That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea.”
  • Lots of other book coverage coming this week including Billonnaire Raj by James Crabtree, The Next Factory of the World by Irene Yuan Sun, and The Next Billion Users by Payal Arora.
  • More discussion of megaprojects, infrastructure, and “why can’t we build things”

Thanks

To every member of Extra Crunch: thank you. You allow us to get off the ad-laden media churn conveyor belt and spend quality time on amazing ideas, people, and companies. If I can ever be of assistance, hit reply, or send an email to danny@techcrunch.com.

This newsletter is written with the assistance of Arman Tabatabai from New York

25 Feb 2019

Daily Crunch: Microsoft unveils the HoloLens 2

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Say hello to Microsoft’s new $3,500 HoloLens with twice the field of view

Microsoft has unveiled the latest version of its HoloLens “mixed reality” headset at MWC Barcelona. The HoloLens 2 features a significantly larger field of view, higher resolution and a device that’s more comfortable to wear. In fact, Microsoft says the device is three times as comfortable to wear.

HoloLens 2 will be available later this year in the United States, Japan, China, Germany, Canada, United Kingdom, Ireland, France, Australia and New Zealand for $3,500.

2. Nubia’s ‘wearable smartphone’ might be the next step for flexible displays

It’s still bulky, so far as smartwatches go. But at the very least, you could probably walk down the street in the thing without stopping traffic.

3. Netflix’s ‘Roma’ wins three Oscars, including Best Director (but not Best Picture)

It was a good night for Netflix, and for “Roma.” But I’m still mad that “Green Book” won the big prize.

4. New microSD format promises insane transfer speeds, better battery life

The SD Association has announced the new microSD Express format, which will allow future mobile devices to consume and create content at even faster speeds.

5. New flaws in 4G, 5G allow attackers to intercept calls and track phone locations

This is the first time vulnerabilities have affected both 4G and the incoming 5G standard — which promises faster speeds and better security. But the researchers say their new attacks can defeat newer protections.

6. The Google Assistant gets a button

Traditionally, the Google Assistant always lived under the home button on Android phones. But LG, Nokia, Xiaomi, TCL and Vivo are about to launch phones with dedicated assistant buttons, similar to what Samsung has long done with its Bixby assistant.

7. This week’s TechCrunch podcasts

In the latest TC podcasts, Equity discusses potential Pinterest and Lyft IPOs, Mixtape interviews the CEO of compassionate care startup Concrn and Original Content reviews the Netflix film “High Flying Bird.”

25 Feb 2019

Data startup Narrative raises $3M more

Narrative, a startup that makes it easier to buy and sell data, is announcing that it’s raised $3 million in additional seed funding.

The round was led by Glasswing Ventures .  XSeed, Tuhaye and Revel also participated.

When I first wrote about the company two years ago, it had already raised $2.25 million, and its business revolved around a marketplace for data. Founder and CEO Nick Jordan told me that’s still what Narrative offers — but customers have also started using its software to manage data transactions beyond the marketplace.

“Buying or selling data sounds really simple — anybody can write in a board deck … ‘We’re going to acquire data, we’re going to distribute data,'” Jordan said. “But it’s much more complex. As a buyer you want specific records, you’re buying for multiple parties. Every seller sells data in a different format. Broadly speaking, there’s a ton of fragmentation.”

And yet, these transactions do happen, with or without Narrative . But Jordan said companies have “historically built their own systems out of duct tape and prayers,” and they often lack features that “seem incredibly trivial, like reporting how much data was sold or bought.”

With Narrative, on the other hand, businesses don’t need to spend the time and resources to create this infrastructure, and they get a tool that allows them to monitor, and hopefully grow, their entire data business.

As this happens, the broader landscape around buying and selling user data is changing, thanks to GDPR, the California privacy bill and the potential for more regulation.

Jordan acknowledged that when GDPR went into effect, Narrative saw “a fairly precipitous drop in data made available in the EU.” At the same time, he said, “The industry as a whole grew up a bit,” and that’s made the technology more appealing to some customers, because it provides “full transparency between the buyer and seller.”

“It [gives] you the ability to do your own due diligence and make sure the data you’re getting is compliant, based on your own reading of GDPR law,” Jordan said.

In fact, he claimed that Narrative really started to see a positive response from customers in the second and third quarter of last year — coincidentally or not, right as GDPR was going into effect.

“This money is really to show that we’ve found product market fit,” Jordan added. That means investing in sales and marketing — and if that pays off, Narrative can probably go out and raise a bigger round.

25 Feb 2019

HAX launches an accelerator program for senior tech

HAX today announced the launch of an initiative targeted at helping startups advance the state of tech for people over the age of 65. The program was developed in conjunction with Centrica, the energy company behind the newly launched Hive Link, a smart home service for people with elderly family members.

The program will invest $250,000 in the startups it selects, including mentoring, office space, education and the like, in exchange for equity in the companies — a pretty standard setup for the San Francisco/Shenzhen-based accelerator.

As HAX notes in a related press release, the US population aging. Studies put today’s 47.8 million population of people over 65 at 78 million in the year 2035.

“HAX has invested in over 200 high-tech startups over the past six years, and we were looking for the right partner to tackle this immense challenge,” partner Kate Whitcomb said in a release tied to the news. “We want to find the right sensors, service robots, or diagnostic devices that can help us age gracefully, and avoid $100 problems turning into $100,000 ones.”

Applications for the program are currently open through the HAX site. Interested parties need to provide a prototype of their project and be willing to relocate to either San Francisco or Shenzhen. It’s a great opportunity to grow a much needed hardware sector and help improve the availability of tech for good, through a focused accelerator program. 

25 Feb 2019

Original Content podcast: Netflix’s ‘High Flying Bird’ mixes basketball, politics and impressive iPhone camerawork

“High Flying Bird,” the latest film from director Steven Soderbergh, isn’t an easy movie to categorize.

For starters, It’s a basketball movie without any basketball. Instead, the story focuses on agent Ray Burke (played by Andre Holland), and his efforts behind the scenes during an NBA lockout. It becomes surprisingly political, portraying the pro sports world as another arena for the conflict between labor and management.

Oh, and this is the second time Soderbergh’s shot a movie on an iPhone — but instead of the low-resolution, handheld shots you might imagine, it’s filled with carefully composed images of cushy backroom dealings.

On this week’s Original Content podcast, Jon Shieber joins us to review the movie. We all liked it — but while some of us struggled to keep up during the dense dialogue scenes, and whether they fully paid off in the end, Jon was completely won over.

You can listen in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You also can send us feedback directly. (Or suggest shows and movies for us to review!)

25 Feb 2019

Here are all the 5G phones announced at MWC

Mobile World Congress is underway, which means there are a handful of brand spankin’ new 5G phones hitting the market soon.

How ever will you decide?

Here’s a look at all the 5G phones announced thus far:

Huawei Mate X

The Mate X is a foldable 5G phone with one 4.6-inch screen, another 6.6-inch 2480×1148 screen, and (when unfolded) an 8-inch 2200×2480 display.

Some other specs:

  • Processor: Kirin 980
  • Battery: 4,5000mAh
  • Memory: 8GB RAM, 512GB internal
  • Price: $2,600
  • Size: 11mm folded, 5.4mm unfolded

LG V50 ThinQ 5G

Aside from its unbearably long name, the LG V50 ThinQ 5G’s claim to fame new biometric security measure called Hand ID, which reads the veins in your hand to authenticate your identity. Plus, the new LG flagship has a dual-screen case, which effectively turns the phone into a foldable.

Some other specs:

  • Processor: Qualcomm SDM855 Snapdragon 855
  • Battery: 4,000mAh
  • Memory: 6GB RAM, 128GB internal
  • Price: Unknown

Samsung Galaxy Fold

The Galaxy Fold is likely to be the most talked-about phone out of MWC because 1) it folds and 2) it’s made by the biggest phone maker in the world. The handset, with a 7.3-inch 1536×2152 Super AMOLED unfolded display and a 4.6-inch cover display, will be available April 26.

Some other specs:

  • Processor: Qualcomm SDM855 Snapdragon 855
  • Battery: 4,380mAh
  • Memory: 12GB RAM, 512GB internal
  • Price: $1,980
  • Size: 17mm folded

Samsung Galaxy S10 5G

The Samsung S10 5G is exactly what you would expect it to be. It’s packed with all the bells and whistles that might appeal to the customer who wants the top of the line phone regardless of price. It sports a 6.7-inch 1440×3040 AMOLED display.

Some other specs:

  • Processor: Qualcomm SDM855 Snapdragon 855
  • Battery: 4,500mAh
  • Memory: 8GB RAM, 256GB internal
  • Price: Unknown

Xiaomi Mi Mix 3

Interestingly, Xiaomi opted to leave 5G out of its flagship phone for the year, the Mi 9. That said, the 5G Mi Mix 3 has a handful its own interesting features, including a sliding front-facing camera that results in a 93.4 percent screen-to-body ratio. It also has a dual-camera system that offers the ability to shoot slow-mo videos at 960 frames per second.

Some other specs:

  • Processor: Qualcomm SDM855 Snapdragon 855
  • Battery: 3,800mAh
  • Memory: 6GB RAM, 64GB/128GB internal
  • Price: $680

ZTE Axon 10 Pro 5G

The Axon 10 Pro 5G doesn’t have many tricks, like a folding display, but it does come with a triple-camera system and what appears to be an in-display fingerprint reader. It also sports a 6.7-inch 1080p display. The phone will definitely launch in Europe and China, but no word on whether it will make its way stateside.

Some other specs:

  • Processor: Qualcomm SDM855 Snapdragon 855
  • Battery: 4,000mAh
  • Memory: 6GB RAM, 128GB internal
  • Price: Unknown

25 Feb 2019

FTC finalizes settlement with student loan refinancer SoFi over deceptive advertising

The FTC announced this morning its has approved the final consent order with online student loan refinancer SoFi, which resolves the allegations around the SoFi’s deceptive advertising practices. Last October, the FTC issued a complaint stating that SoFi had been misrepresenting how much money student loan borrowers could save in its online, TV and direct mail advertisements since April 2016.

According to the FTC’s findings, SoFi would inflate the average lifetime savings consumers could achieve – sometimes even as much as double the actual savings – by excluding large categories of consumers. Meanwhile, most of the excluded groups were actually paying more money as a result of their loans with SoFi, the FTC said. In fact, they were paying thousands of dollars more, on average, on a lifetime basis, and hundreds more, on average, per month.

For example, one online SoFi ad had claimed: “Refinancing student loans saves $22,359 on average.” Another had said: “Start saving on your student loans. Average monthly savings $292.”

The excluded groups were those borrowers whose loans have a longer term than the previous student loans those consumers financed, the FTC explained. That meant they ended up paying more over the loans’ lifetime. When SoFi did make disclosures, it was buried in the fine print, the complaint also said.

In addition, the FTC said SoFi misrepresented when consumers would actually pay more under certain refinancing plans, which violated the FTC Act.

The Commission voted 5-0 to approve the final consent order, following a public comment period.

The order says SoFi is prohibited from misrepresenting to consumers how much they can saved using its products, and from making claims about savings unless they’re backed up with reliable evidence.

SoFi at the time had disputed the FTC’s claims, saying it offers “clear and complete information” to its current and prospective members.

In a statement released in October 2018, the FTC noted its resolution doesn’t require SoFi to pay any money for its violations, due to limitations in its authority. But if SoFi violates the consent order, the Consumer Financial Protection Bureau and the State Attorneys General would be able to seek penalties under existing federal law.

The order terminates on February 22, 2039 or 20 years from the most recent date the U.S. of the Commision files a complaint in federal court alleging any violations, whichever comes later.

The settlement comes at a time when student loan debt has become a hot button topic, having tripled over the last decade, and now surpassing auto and credit card debt, CNBC reported last fall. Average debt at graduation is now $30,000, up by $10,000 since the early ’90’s it said.

25 Feb 2019

Target announces launch of its curated, third-party marketplace, Target+

Target this morning announced Target+, a new initiative designed to expand the assortment on Target.com with merchandise from third-party sellers. But unlike with Walmart and Amazon’s marketplaces, Target is taking a more curated approach as to how sellers will be added to its program. The retailer says it’s starting with “thoughtfully selected” additions in areas like home, toys, electronics and sporting goods.

While any seller can apply to join Amazon or Walmart’s marketplace, there’s no such process for joining Target+. Instead, Target explains that each partner is “carefully selected” and then invited into the program – a move it hopes will help keep quality high.

At launch, guests will be able to discover an expanded array of running shoes, outdoor décor, patio accessories, a bigger selection of STEM learning toys, new musical instruments, and baseball gear from both national and speciality sellers, says Target. Some of the current sellers include: SVSportsMizunoKaplan Early Learning CompanySerenity Health & Home Décor and Music123.

Over time, more products and sellers will be added, as Target learns more about guest needs.

Offering only a curated selection means Target+ won’t face the same struggles as other retailers when it comes to policing their third-party marketplaces for offensive content – like the racist merchandise found on Amazon, for instance; the toilet seat covers featuring holy text, politically charged and controversial apparel; and other items. Because these marketplaces are so large, offensive or just generally questionable or odd merchandise repeatedly surfaces, resulting in bad PR for the marketplace’s host, like Amazon, Walmart or eBay.

Target will avoid this issue by way of its curation, but it will come at the expense of having a larger third-party assortment.

Target+ merchandise will also be integrated into the site within the appropriate categories, so the items can be discovered through both browsing and search. There’s no way to just search for “Target+” items.

In addition, shoppers will have the same perks when buying from third parties as they do when buying from Target’s own assortment, including 5 percent off when using their Target REDcard, free shipping, and in-store returns.

“Guests look to Target for great products. With Target +, we aim to give them easy access to even more great products by partnering with best-in-class specialty and national brands that will help guests save and get more done in just one stop to Target.com,” said Rick Gomez, Target’s chief marketing officer and digital officer, in a statement.

The launch of Target+ follows Walmart’s recent announcement that it would expand its 2-day shipping program to the millions of products offered by its own marketplace sellers, to better compete with Fulfillment by Amazon, which allows sellers to make their items available on Prime. And, like Target, Walmart aims to leverage its brick-and-mortar stores for third-party merchandise returns.

Both moves put Amazon at more of a disadvantage, as its brick-and-mortar footprint is limited to its Whole Foods stores, and various bookstores and other shops in urban metros. Walmart, on the other hand, has 140 million weekly in-store customers, and says 90 percent of Americans live within 10 miles of a Walmart store.

Target, meanwhile, has 1,850 retail stores in the U.S. compared with roughly 475 Whole Foods stores in the U.S., and over 4,700 Walmart locations in the U.S. (excluding Sam’s Club.)