Category: UNCATEGORIZED

10 Nov 2020

This is the new $999 MacBook Air, powered by Apple silicon

It’s official. The first MacBook to sport Apple’s own silicon is here. The perennial favorite thin and light is on the way, featuring the company’s new M1 chip — it’s first desktop CPU built in-house. The system looks to be largely identical to the last several generations of Air, with most of the big changes happening under the hood.

Per Apple’s numbers, the system should be 3.5x faster than earlier models and faster than 98% of the PC laptops sold in the last year. Even more notable, the new ARM-based chip means it can operate without a fan. The company has long claimed that battery efficiency is one of the biggest benefits to its new chip, and that certainly seems to be came here, with a claimed 15 hours of web browsing and 18 hours of video playback on a charge. Huge if true, and a big bump from the 12 hour claims for earlier models.

There’s no TouchBar here — which, fine. But the best part of the setup — TouchID — is present, which it also was in the latest Intel Air. Unfortunately, the webcam hardware appears to be the same. That would be a nice upgrade, given the fact that we’re all teleconferencing now, but Apple does claim some software improvements to the 720p camera.

The system starts at $999 — or $899 for students.

 

10 Nov 2020

Apple announces the M1, the first chip in its Apple Silicon family

As expected, Apple today announced its first Arm-based Mac and with that, it also announced its family of Arm-based Apple Silicon chips. When it first announced Apple Silicon, the company didn’t provide a lot of details, but in today’s presentation, we learned quite a bit more. The first chip in this family is the M1, based on a 5nm process.

“We’ve been making Apple Silicon for more than a decade. It’s at the heart of iPhone, iPad, and Apple Watch – and now we want to bring it to the Mac, so the Mac can take a huge leap forward with the incredible performance, custom technologies and industry-leading power efficiency of Apple Silicon,” Apple said.

The M1 will feature 4 high-performance cores and 4 high-efficiency cores, following what has long become the standard for Arm chips.

Apple argues that the M1 is its highest-performance chip yet and delivers similar performance to its current Intel-based dual-core Macbook Air (though to be fair, that’s not a performance machine by any stretch). Maybe more importantly, these chips also offer a better performance per watt than other systems.

On the GPU side, the M1 will feature up to eight cores with 128 execution units. It’ll be able to handle up  24,576 concurrent threads and peak performance of 2.6 teraflops. This, Apple argues, makes it the world’s fasted integrated graphics experience on a laptop.

As expected, the chip will also feature Apple’s neural engine for accelerating machine learning workloads.

Image Credits: Apple

The first set of developer units that Apple shipped out earlier this year were powered by the A12Z chip, a variant of the A12 that made it debut in the 2020 iPad Pro earlier this year. It doesn’t look like Apple really modified that eight-core A12Z chip for its so-called ‘Developer Transition Kit,’ but even without doing so, these developer kits also hit performance levels comparable with an entry-level MacBook Air.

And while Apple has obviously modified this chip design to suit its own purposes, it’s worth noting that Arm itself has spent the last few years building an IP portfolio of server- and desktop/laptop-ready chips. On the laptop side, it had a few wins, with Microsoft betting on Arm for some of its Surface devices, but overall, this remains a niche market. In the server space, though, Arm has clearly shown that it is able to offer its partners the right designs to build chips with the right power and performance tradeoffs.

Image Credits: Apple

10 Nov 2020

What I wish I’d known about venture capital when I was a founder

When you’re running your own venture — especially if it’s your first — it’s unlikely you will find the time to deep dive into how venture capital firms work. Fundraising is distracting for founders and can even hurt their company in the early days. But if you only start learning about VCs when you’re already down the fundraising path, you’ll already be too late.

Founders tend to make a series of classic mistakes when raising funding. Error number one (and two) is to raise the wrong amount of money and to do it at the wrong time. This double whammy results in founders being very diluted too early or not raising enough money to reach the next funding stage.

They can also put all their eggs in one basket too early. I made that mistake. I had signed a term-sheet (a nonbinding agreement) for a €2.5 million Series A round, passed the due diligence process, and the investment committee had approved the deal. But at the very last minute, a claim from one of the angels on my cap table made the prospect investor change his mind. In a Point Nine Capital survey, founders said that the two most stressful elements of raising venture capital are not knowing where in the fundraising process they are and not understanding why VCs have rejected their proposal.

On the other hand, if you know what VCs all about, you’ll be geared up for the ride, know the kind of investor personality you’re aiming for, and crucially — you’ll optimize the value of your equity in the long run. Founders who manage to raise more VC funds end up having a greater value stake in their company when the time comes to IPO, according to statistical research. The learning curve is steep; you’re not just studying VC as an industry, but the individual investors themselves. So, I’ve decided to share the main lessons about VC that I wish I’d known when I was a startup founder chasing venture capital.

1. It’s not about raising, it’s about raising the right amount at the right time

Startups are all about reaching two milestones: (a) product/market fit and (b) a profitable, repeatable and scalable growth model. Once those two corners are turned, the risk of a startup decreases enormously, which is normally reflected in the valuation. As an early-stage founder, if you want to protect your ownership, make sure you’re raising small amounts of money while your valuations are low.

Save your cash until you de-risk your early-stage startup. Then, raise aggressively when you finally have hard evidence that you have a strong product/market fit and a clear growth model. Be sure you understand when your company reaches that stage and becomes a scaleup. You don’t want to be a founder that has successfully raised a Series A round but has very little ownership and a very long road ahead.

Sometimes, the timing is out of your hands. The price of equity in startups is governed by the supply and demand of capital. Investors themselves have to raise money from another type of investor called Limited Partners (LPs), who may hold stakes in a variety of assets. If LPs have a strong interest in VC assets, there is more supply of capital and the price of startup equity will rise. But the opposite is also true. If you take a look at the last two recessions in the United States (2000 and 2008), you will see that the stock market crash coincided with corrections to valuations in the VC market.

So, be strategic and raise when “the market” has a strong appetite for your equity; otherwise, stretch your runway and wait for the right time. Right now, it’s common to see startups postponing their next raise to 2021, looking for stronger winds.

2. Location: Tell me where you are and I’ll tell you how much you’ll raise

I see two conditions for startups to raise a large round: (a) a large market that can justify a sizable exit, and (b) a large VC fund (small funds don’t need super sizable exits to be successful).

Assuming the first condition is met, where can we find those large VC funds? Typically, they’ll be in locations close to large markets, with a track record of sizable exits.

10 Nov 2020

Four days left to save big on tickets to TC Sessions: Space 2020

If you’re a part of the early-stage startup space race, or aspire to such celestial heights, don’t miss out on early-bird savings to TC Sessions: Space 2020 on December 16-17. We’re at T-minus four days and counting — buy your pass before the countdown clock strikes 11:59 p.m. (PT) November 13, and you’ll save $100.

Spend two days learning from and engaging with people forging the future of space travel, exploration, communications, manufacturing and so much more. We’re talking top industry founders, investors, government and military officials — across the public, private and defense sectors.

How cool is 3D printing? It’s exponentially cooler when you’re printing rockets like Tim Ellis, CEO of Relativity Space. That’s just one of many hot topics and experienced leaders waiting to help you learn and move your business forward. Check out the event agenda and start planning your schedule now.

You’ll have access to all live sessions, and you can access video on demand. Whether you need to meet with clients, network at the event or check out early-stage exhibitors in the expo, VOD lets you conquer FOMO — fear of missing out.

Networking’s essential for startup success and CrunchMatch, our free AI-powered platform, makes it simple and easy to meet, greet, connect and collaborate with the people who align with your business goals. You never know what might develop from a CrunchMatch connection.

This is our first TC Sessions dedicated to space, but it is by no means our first dance. TC Sessions of all stripes are synonymous with opportunity. Case in point: Karin Maake, senior director of communications at FlashParking, had this to say about her TC Sessions experience:

“TC Sessions wasn’t just an educational opportunity, it was a real networking opportunity. Everyone was passionate and open to creating pilot programs or other partnerships. That was the most exciting part. And now — thanks to a conference connection — we’re talking with Goodyear’s Innovation Lab.”

Join this intrepid global community at TC Sessions: Space 2020 on December 16-17. The four-day countdown to savings is on — don’t miss your chance to keep $100 in your pocket. Buy your early-bird pass before prices go up on November 13 at 11:59 p.m. (PT).

Is your company interested in sponsoring TC Sessions: Space 2020? Click here to talk with us about available opportunities.

 

10 Nov 2020

HBO releases a wellness-focused AR app to promote ‘His Dark Materials’

With the second season of “His Dark Materials” premiering on HBO on November 16, the network has partnered with creative studio Framestore to create a new iOS and Apple Watch app called His Dark Materials: My Daemon.

The free app gives fans of the show (and the Philip Pullman novels the show is based on) a chance to interact with their very own “daemons” — the magical animal companions that serve as an extension of characters’ souls.

“It’s a really great opportunity to give users and fans of the show the opportunity to have a daemon companion that’s personalized to them,” said Christine Cattano, Framestore’s global head of VR. “And what better way to do that than on your phone, which is a constant companion to us all?”

Users are assigned a daemon after taking a simple quiz consisting of questions like “day or night?” and “above or below?” They can then interact with the daemon by providing basic updates on their current state (like whether they’re feeling focused or distracted). Based on those updates, the daemon will recommend tasks tied to physical and emotional wellness, like going for a walk or a run, or watching a movie.

As users perform more wellness tasks, their daemon becomes happier and healthier. The app also allows users to go on “journeys,” where they perform a series of (again, wellness-focused) tasks that are tied to the activities of characters on the show.

His Dark Materials: My Daemon

Image Credits: HBO/Framestore

His Dark Materials: My Daemon will learn more about your activities by integrating with Apple Health and Spotify. And it incorporates augmented reality by allowing you to watch animations where you daemon interacts with the world around you. You’ll be able to share your companion interactions on social media, as well.

HBO’s vice president of program marketing Emily Giannusa noted that the original plan was for “large, real world activations.” After all, Framestore didn’t just work on visual effects for the actual “His Dark Materials” show. It also collaborated with HBO to develop “Beyond the Wall,” a virtual reality experience tied to “Game of Thrones,” as well as Magic Leap GoT experience called “The Dead Must Die,” which were both available via installations in flagship AT&T stores. (AT&T owns HBO’s parent company WarnerMedia.)

But given the pandemic and the need for social distancing, HBO and Framestore knew they had to take a different approach, so Giannusa said they came up with something that could “delight [fans] while they’re at home” — and that should reach a much larger audience in the process.

10 Nov 2020

HBO releases a wellness-focused AR app to promote ‘His Dark Materials’

With the second season of “His Dark Materials” premiering on HBO on November 16, the network has partnered with creative studio Framestore to create a new iOS and Apple Watch app called His Dark Materials: My Daemon.

The free app gives fans of the show (and the Philip Pullman novels the show is based on) a chance to interact with their very own “daemons” — the magical animal companions that serve as an extension of characters’ souls.

“It’s a really great opportunity to give users and fans of the show the opportunity to have a daemon companion that’s personalized to them,” said Christine Cattano, Framestore’s global head of VR. “And what better way to do that than on your phone, which is a constant companion to us all?”

Users are assigned a daemon after taking a simple quiz consisting of questions like “day or night?” and “above or below?” They can then interact with the daemon by providing basic updates on their current state (like whether they’re feeling focused or distracted). Based on those updates, the daemon will recommend tasks tied to physical and emotional wellness, like going for a walk or a run, or watching a movie.

As users perform more wellness tasks, their daemon becomes happier and healthier. The app also allows users to go on “journeys,” where they perform a series of (again, wellness-focused) tasks that are tied to the activities of characters on the show.

His Dark Materials: My Daemon

Image Credits: HBO/Framestore

His Dark Materials: My Daemon will learn more about your activities by integrating with Apple Health and Spotify. And it incorporates augmented reality by allowing you to watch animations where you daemon interacts with the world around you. You’ll be able to share your companion interactions on social media, as well.

HBO’s vice president of program marketing Emily Giannusa noted that the original plan was for “large, real world activations.” After all, Framestore didn’t just work on visual effects for the actual “His Dark Materials” show. It also collaborated with HBO to develop “Beyond the Wall,” a virtual reality experience tied to “Game of Thrones,” as well as Magic Leap GoT experience called “The Dead Must Die,” which were both available via installations in flagship AT&T stores. (AT&T owns HBO’s parent company WarnerMedia.)

But given the pandemic and the need for social distancing, HBO and Framestore knew they had to take a different approach, so Giannusa said they came up with something that could “delight [fans] while they’re at home” — and that should reach a much larger audience in the process.

10 Nov 2020

Spearhead launches $100M fourth fund to transform founders into top-notch VC investors

Venture capital continues to get a founder makeover.

Two years ago, I profiled Spearhead, a new program and fund created by Jeff Fagnan at Accomplice and Naval Ravikant, the co-founder of AngelList, to mentor leading founders into becoming the next-generation of angel and seed investors. The premise is and remains simple: offer founders with great networks and hustle $1 million in capital to go out and start writing angel checks and build their own portfolio. Provide a bit of infrastructure and support to guide their decisions, but otherwise, empower founders to learn the craft of investing, and in the process, perhaps even improve their own fundraising prowess.

Well, a lot has changed in the early-stage world, both broadly and with Spearhead over the past nearly three years.

In the last few months (partly driven by AngelList’s push), rolling funds have erupted to completely transform the solo and first-time capitalist world. Rolling funds allow newly-minted VCs to raise smaller amounts of money over time rather than raising a whole fund first, which dramatically lowers the barriers to begin startup investing. How does Spearhead fit into such a world? That’s where the program’s new fund comes into play.

Spearhead announced today that it has raised $100 million for its fourth fund. The basic outline of the program remains the same, but what’s changed is what happens after the formal Spearhead program has finished. “Top-performing founders” will now get $5 million to stake a follow-on rolling fund, as determined by an LP committee. Half the fund is dedicated to follow-on investments, which means that $50 million will be invested in the pro-rata stakes of Spearhead investments. In an interview, Ravikant said “we’re scaling the dollars but we’re reducing the classes” and Fagnan chimed in saying “deeper, fewer bets.”

Applications for the fourth class of Spearhead founders are now open.

Jeff Fagnan and Naval Ravikant of Spearhead. Photo via Spearhead.

Spearhead isn’t built around formal lectures or material, but instead is designed to be an active community that helps train founders for two years and more to learn the art of investing. “We write down the guidelines on how to invest — the stuff that can be taught — on one sheet of paper,” Ravikant said. “And it’s pretty basic stuff … there’s no rocket science here. The work is in the actual day-to-day execution.” The real learning takes place around live deals where it’s all about the discussions between the partners and the other Spearhead participants and alumni.

Spearhead shared some data about where the program stands after about three years. Across three classes, 56 founders have joined the program (with eight unicorns represented), funding 380 startups with $18 million in capital. Among the founders in the program are Alexandr Wang of Scale AI (which was just offered funding at a $3 billion valuation according to The Information), Laura Behrens Wu of Shippo (which raised its Series C earlier this year) and Peter Reinhardt of Segment, which was just bought by Twilio for $3.2 billion.

“We’re an investor, we’re not running a scout program,” Ravikant said. “We are the first and most value-added limited partner in a new GPs career, and just like Y Combinator is sort of pulling these companies into existence, from school kids who otherwise would not have gotten the time of day, we are pulling these funds into existence by helping the founders who until now have been dabbling in angel investing and knew that down the road, they’d have to learn how to be a VC or an angel.”

As Spearhead has matured, the team has learned which founders have succeeded, and what their blind spots are. “The most successful founders in my mind that are Spearhead leads are people who did not consider themselves an angel investor before joining the program,” Fagnan said.

The challenge though has been, ironically for these people, ambition. “The main issue has just been investing too little,” Ravikant said. “They’ve been very timid starting out — as angels they’re used to writing 25 or 50K checks and the idea of writing a 100K or 200K or 500K check is very intimidating.” So, “the mistake so far has been just investing too little, but the quality of that is very very high.”

With Spearhead’s new follow-on financing, the duo hope that they can guide founders toward making bigger bets on riskier projects. They want founders not to have five successes across their five checks, but one mega-success and four failures. “What we’re trying to infuse in them is: we are risk capital and conviction capital [and] we really want them to be taking risks,” Fagnan said.

Unsurprisingly though, Ravikant is a long-term believer. “I personally now invest my own capital into every single Spearhead fund,” he said. “I think it’s basically one of the best deals in venture.”

10 Nov 2020

Twitter could face its first GDPR penalty within days

European data protection regulators have inched toward an enforcement decision for a Twitter breach that the company publicly disclosed in 2019, after a majority of EU data supervisors agreed to back a draft settlement submitted earlier by Ireland’s Data Protection Commission (DPC).

Twitter disclosed the bug in its ‘Protect your tweets’ feature at the start of last year — saying at the time that some Android users who’d applied its setting to make their tweets non-public may have had their data exposed to the public Internet since as far back as 2014.

A new data protection regime came into force in the European Union in May 2018 — meaning the 2014-2019 breach falls under the EU’s General Data Protection Regulation (GDPR).

Ireland’s DPC is the lead supervisor authority in the case but the cross-border nature of Twitter’s business means all EU data protection agencies have an interest and the ability to make “relevant and reasoned” objections to the draft. Objections to the DPC’s draft decision were duly raised over the summer — triggering a dispute resolution process for cross-border cases set out in the GDPR.

The European Data Protection Board (EDPB), a body which helps coordinate pan-EU regulatory activity, said today it has adopted its first Article 65 decision — referring to the mechanism for settling disagreement between the EU’s patchwork of data supervisors. This means that at least a two-thirds majority of the EU DPAs have backed the settlement.

“On 9 November 2020, the EDPB adopted its binding decision and will shortly notify it formally to the Irish SA,” it wrote in a statement.

Ireland’s deputy commissioner, Graham Doyle, confirmed the EDPB has informed it of an Article 65 decision — but declined to comment further at this stage.

Ireland’s DPC now has up to a month to issue a final decision.

“The Irish SA [supervisory authority] shall adopt its final decision on the basis of the EDPB decision, which will be addressed to the controller, without undue delay and at the latest one month after the EDPB has notified its decision,” the EDPB statement adds.

Details of any penalties Twitter may face — such as a fine — have not yet been confirmed. But the end of the process is now in sight.

GDPR places a legal obligation on data controllers to adequately protect personal data and financial penalties for violations of the framework can scale up to 4% of a company’s annual global turnover. Although in the case of big tech the largest GDPR fine to date remains a $57M fine slapped on Google by France’s CNIL.

Unlike that Google case — which CNIL pursued ahead of Google moving its EU legal base to Ireland — the Twitter case is cross-border and will be the first such big tech GDPR case to be concluded once a final decision is out.

The EU’s flagship data protection regulation continues to face criticism over how long it’s taking for cases and complaints to be investigated and decisions issued — especially those related to big tech.

Last year the Irish regulator said its first cross-border GDPR decisions would be coming “early” in 2020. In the event its first one will arrive before the end of 2020 — but that’s a pace that’s unlikely to silence critics who argue EU regulators are not equipped for the complex, resource-intensive task of overseeing how big tech handles people’s data.

The Twitter breach case is also likely to be considerably less complex than some of the complaint-based GDPR investigations ongoing into big tech platforms — which include probes around the legal bases for Facebook to process user data and how Google’s ad exchange is using Internet users’ data. Yet the EDPB still allowed for a full extra month to the Article 65 process (instead of the default one month) because of what it described as “the complexity of the subject matter”. That hardly bodes well for more contentious cases.

Still, going through dispute resolution over cross-border cases may lead to greater consistency and help DPAs pick up enforcement pace over time.

The UK’s ICO looks like a bit of a cautionary tale in this regard — having recently taken the clippers to massive preliminary fines it announced in a couple of (non-big tech GDPR) data breach cases, meaning enforcement ended up being both later and less stinging than it had first appeared.

Despite critics’ claims that GDPR enforcement continues to be lacking in places where it should be hard-hitting, the question of how to effectively regulate big tech is one that EU lawmakers aren’t backing away from.

On the contrary, the Commission is set to lay out a legislative proposal next month to apply ex ante rules to dominant Internet platforms as part of a planned Digital Markets Act. Under the plans, so-called ‘gatekeepers’ will to be subject to a list of ‘dos and don’ts’ that’s slated to include controls on how they can share data. It could also could see a push to create a pan-EU regulator to oversee major platforms. 

Such an approach could help to reduce the oversight burden facing a handful of EU DPAs with an outsized number of big tech giants on their books, such as the Irish DPC. But, again, there’s likely to be a long wait ahead before any new EU platform rules are in a position to be effectively enforced. 

10 Nov 2020

Treviranus, Butler and Fruchterman to speak at Sight Tech Global

 

Sight Tech Global goes live the week after Thanksgiving on December 2-3, and now’s the time to pick up a free pass! The agenda for this virtual, global event on AI-related technology and accessibility for people who are blind or visually impaired just keeps getting better.

Today we’re delighted to announce two new sessions as well as our host for Sight Tech Global, Will Butler, a vice-president at Be My Eyes and host to the popular Be My Eyes and 13 Letters podcasts. Butler will run the Sight Tech Global virtual “desk,” where he will offer a running commentary on the sessions as well as introduce speakers and moderators. Be My Eyes is also the attendee-support partner for Sight Tech Global, and volunteers will be standing by to assist anyone who has questions during the event.

Butlers joins several TechCrunch moderators for sessions at the event, including Matthew Panzarino, Megan Rose Dickey, Kirsten Korosec, and Devin Coldewey.

Here are the two new panels on the agenda:

AI, Fairness and Bias: What technologists and advocates need to do to ensure that AI helps instead of harms people with disabilities

While it’s clear that AI-based technologies like natural language processing and computer vision are powerful tools to help with accessibility, there are also areas where AI technologies inject bias against people with disabilities by contrasting them against “norms” established in databases. This panel will look at examples of where that is happening – in employment software, benefits determination or even self-driving cars, for example, – and approaches that will help address these issues from the ground up.

Jutta Treviranus, Director of the Inclusive Design Research Center

Lydia Brown, Policy Counsel, Privacy and Data Project

Moderator, Jim Fruchterman, Founder, Benetech

Inventors invent: Three new takes on assistive technology

Inventors have long been inspired to apply their genius to helping blind people. Think of innovators like Louis Braille and Ray Kurzweil, to name just two. Today’s ambitious pioneers have the cheap sensors, high speed data networks, and data and compute “in the cloud” to do more than ever before. In this session, three founders present products that have just or will soon enter production that they believe will improve the lives of people with disabilities.

Keith Kirkland, Wayband

Khartik Mahadevan, Envision Glasses

Andres Forsland, Cognixion

Moderator, Ned Desmond

Sight Tech Global is a production of the non-profit  Vista Center for the Blind and Visually Impaired, which has served people on the San Francisco Bay area for 75 years. All proceeds from the event, which is run entirely by volunteers, go directly to support the Vista Center’s work with blind and low vision people. We are very grateful for the sponsors who are backing Sight Tech Global, including Waymo, Salesforce, Mojo Vision, Ford, Vispero, Google, Microsoft, Amazon, Wells Fargo, Comcast, Accessibe, Eyedaptic, APH, Humanware, Verizon Media and TechCrunch. Sponsorship opportunities are still available. 

 

10 Nov 2020

New forecast pegs TikTok to top 1.2B monthly active users in 2021

TikTok’s upward trajectory is expected to continue in 2021, according to a new forecast from mobile data and analytics firm App Annie, which estimates the short-form video app will surpass the 1 billion monthly active user mark next year. The expanded forecast also looked into future trends around mobile ad spending and the growth in “at-home” activities fueled by mobile, like e-commerce and online meetings, for example.

TikTok’s growth numbers, however, were the standout estimate from the new report. The video app has grown in popularity, having nearly tripled in size since 2018, App Annie noted. And, as of the third quarter this year, TikTok became the No. 2 non-gaming app by consumer spending, due to its use of a combination of revenue streams, including advertising and sales of virtual gifts used for tipping streamers.

In 2021, App Annie expects TikTok to not only join the 1 billion monthly active user (MAU) club alongside Facebook, Instagram, Messenger, WhatsApp, YouTube and WeChat — it predicts TikTok will actually sail past the 1 billion MAU milestone to reach 1.2 billion average monthly active users.

Image Credits: App Annie

This is remarkable growth, given that TikTok still remains banned in one of the world’s largest mobile markets, India.

And, of course, the fate of the social video app in the U.S. will have to do with how the incoming Biden administration handles the Trump TikTok ban. (And there are some signals his view doesn’t differ that much from Trump on this front.)

App Annie also predicted 2021 will see continued growth for “at-home” activities, fueled by mobile. Though there is promising news about a potential COVID vaccine, it’s not likely that everything will simply shift back to the way it was before the pandemic upon its release. The pandemic just accelerated trends that were already underway.

The report estimates that time spent in key “at-home” categories — like remote business and education apps, e-commerce, mobile finance apps and at-home fitness apps — will top 1.3 trillion hours on Android phones in 2021, for example.

Specifically, remote business apps (e.g Zoom) are expected to see a compound annual growth rate (CAGR) of 57% and remote learning apps will see 62% growth. Total time in mobile banking and finance apps will surpass 31 billion hours annually in 2021, representing a 4-year CAGR of 35%. Fitness and e-commerce will grow as well, at +23% and +40%, respectively.

Image Credits: App Annie

In addition, the firm predicts consumers will install up to 85% more video streaming apps in 2021 in the U.S., compared with pre-COVID levels.

And it expects mobile ad spend to reach $290 billion in 2021, in part thanks to strong mobile commerce growth and a further shift from offline advertising to digital.

“While the U.S. presidential election has helped fuel mobile ad spend in the latter part of 2020, App Annie expects ad dollars to continue to flow to smartphones in 2021,” the firm said. “Particularly given the consumer shift to mobile is not an isolated trend — COVID-19 catalysed the habits we were already forming,” the company added.