Category: UNCATEGORIZED

29 Oct 2019

In-space manufacturing could prompt more startups to reach for the stars

Depending on who you ask, space-based technology is past peak hype, at the beginning of its investment growth curve, or in an infrastructure-building phase akin to the railway industry in 1800s America. One emerging technology could change everything for startups and aerospace giants, however — in-space manufacturing.

One of the hard limits of building businesses in space is launching things to space. It’s a difficult problem to overcome, and the cost realities of making it happen are bound to some extent by physics, even with efficiencies made possible by new approaches from companies like SpaceX, Rocket Lab and Blue Origin.

Launching objects from Earth to space doesn’t just carry a financial burden; escaping our gravity and atmosphere is not a gentle process, and there are limits to the fragility, shape and materials that can be used in payloads delivered to orbit on a rocket, even when covered by a protective fairing.

Innovative designs like the spring-style expanding antenna developed by NSLComm for geocommunications satellites can provide workarounds for some of these limitations, but not all. But in-space manufacturing technology currently in development may have the potential to obviate both hard design and launch cost limits.

A number of companies are already developing the capability to build spacecraft, research equipment and advanced hardware in space using components and base materials transferred from Earth (much easier than transporting complex devices) and, potentially, mined locally from asteroids, planetary bodies or even decommissioned and non-functional older satellites.

“We think that in-space manufacturing, specifically, married with lower-cost access to space, along with modern electronics and computing, is the killer foundation that enables us to really break some of the constraints that we put on everything we’ve ever sent to space,” is how Made In Space CEO and President Andrew Rush put it, speaking on stage last week at annual space industry symposium the International Astronautical Congress.

Made In Space, a Mountain View-based company founded in 2010, develops and deploys in-space manufacturing technologies. In 2013, it sent the first-even 3D printer to space to demonstrate the viability of its technology, leveraging that early success into a deal with legacy space giant Northrop Grumman to develop the Archinaut, an in-space, high-precision robotic manufacturing platform which can take on tasks like building complex and highly sensitive telescopes or modify and enhance spacecraft already in orbit.

29 Oct 2019

Big 3 cloud infrastructure earnings reach almost $22B this quarter

Amazon, Microsoft and Google are often referred to as the Big 3 in the cloud infrastructure market, and if you had any doubt about the growth potential of the cloud, take a look at this quarter’s eye-popping revenue numbers from these three companies, which reached almost $22 billion this earnings’s season.

Before we get into each company’s specific numbers, it’s important to note that it’s difficult to get a firm grip on what the cloud numbers actually mean and what each company includes in that cloud revenue category. What’s more, this quarter Google didn’t even report specific cloud revenue, so we are left to rely on comments from July.

It’s also important to note that we are talking about the cloud infrastructure, not SaaS revenue, so Microsoft earned additional money from their SaaS business, but Google combines SaaS and infrastructure into a single number.

That said, we have a rough idea and we know the market is growing. Consider that based on last year’s earnings reports that revenue has grown from around $16 billion to around $22 billion in just one year for these Big 3. In fact, Synergy Research reports that the entire market is on $100 billion run rate for the first time this month.

AWS

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Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Let’s start with AWS. They have the purest numbers when it comes to the cloud market, and they have the largest chunk of marketshare by far. Most analysts peg them at around 33 percent or so, well ahead of any other player on the market.

Amazon reported revenue of almost $9 billion this month, putting it on a run rate of almost $36 billion. Not bad for a side business for the main Amazon e-commerce site. Amazon’s overall growth rate dropped from around 45% to around 35%, but as John Dinsdale from Synergy Research points out, that’s still a good rate, and it becomes much harder to sustain large growth numbers the bigger you get.

Microsoft

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Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Microsoft had a good week. It reported Intelligent Cloud earnings of around $11 billion, and it was awarded the Pentagon’s $10 billion, decade long JEDI cloud contract. The company is in second place in terms of marketshare with around 16%.

Like Amazon, Microsoft saw its cloud growth slow a bit, down to 59% compared with 76% a year ago, but it faces a similar challenge to Amazon, even though it has half the marketshare. It’s scaling so quickly that it can’t really maintain that growth pace it’s been on, according to Dinsdale. “To be at the scale that Azure has achieved and to be still growing at around 60% per year is impressive. Sure the growth rate is nudging down but that is entirely to be expected for a business that has rapidly grown,” he told TechCrunch.

It’s important to point out that Intelligent Cloud includes much more than Azure including SQL Server, Windows Server, Visual Studio, consulting and support.

Google

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Photo: Budrul Chukrut/SOPA Images/LightRocket via Getty Images

Finally we have Google. It has far less marketshare than Amazon or Microsoft, somewhere around 8%, still in the single digits, but growing fast. The company brought on former Oracle executive Thomas Kurian to replace Diane Greene at the end of last year to help drive growth at the cloud division.

In July, at the company’s earnings report, Google CEO Sundar Pichai reported that the company was on an $8 billion run rate, or $2 billion a quarter. To put that into perspective, the company’s cloud revenue had doubled in 18 months. It’s important to note however that figure includes both Google’s infrastructure services and its commercial SaaS tools like G Suite. It probably ticked up this week, but Google wasn’t sharing specific numbers this time.

While it’s always been difficult to compare cloud numbers, we have a good sense of how each of the Big 3 is doing overall. One thing is clear: this is not a fixed pie. The cloud market is still growing rapidly, and all three companies are taking advantage.

29 Oct 2019

Samsung teases a clamshell foldable form factor

Last year at its developer conference, Samsung showed off an early glimpse of its upcoming foldable. In hindsight, the Galaxy Fold’s roll out could have gone more smoothly, but sometimes first gen products go that way, I suppose. At very least, it’s clear that the company won’t let a rocky start stand between it and broader foldable phone ambitions.

On stage at this year’s event, the company showed off another take on the foldable display. A video shows the Galaxy Fold form factor morphing into a clamshell more akin to traditional dumb phones.

Unlike last year’s event, this one shouldn’t be taken as a pre-product announcement. Rather, the company says it’s “explor[ing] a range of new form factors in the foldable category.” It’s something that’s been pretty clear from the outset: these earliest days of foldable are very much about seeing which form factors click. Samsung is currently working with developers to explore these concepts.

This latest is more in line with leaks we’ve seen of the rumored Motorola Razr reboot, with an elongated screen that can easily be folded up and stashed away in a pocket. Perhaps we’ll get more insight into the company’s plans as CES or MWC.

Perhaps.

29 Oct 2019

Samsung teases a clamshell foldable form factor

Last year at its developer conference, Samsung showed off an early glimpse of its upcoming foldable. In hindsight, the Galaxy Fold’s roll out could have gone more smoothly, but sometimes first gen products go that way, I suppose. At very least, it’s clear that the company won’t let a rocky start stand between it and broader foldable phone ambitions.

On stage at this year’s event, the company showed off another take on the foldable display. A video shows the Galaxy Fold form factor morphing into a clamshell more akin to traditional dumb phones.

Unlike last year’s event, this one shouldn’t be taken as a pre-product announcement. Rather, the company says it’s “explor[ing] a range of new form factors in the foldable category.” It’s something that’s been pretty clear from the outset: these earliest days of foldable are very much about seeing which form factors click. Samsung is currently working with developers to explore these concepts.

This latest is more in line with leaks we’ve seen of the rumored Motorola Razr reboot, with an elongated screen that can easily be folded up and stashed away in a pocket. Perhaps we’ll get more insight into the company’s plans as CES or MWC.

Perhaps.

29 Oct 2019

Walmart and Green Dot to jointly establish a new fintech accelerator, Tailfin Labs

Walmart announced today an expansion of its existing relationship with financial services provider Green Dot, which will continue to serve as the issuing bank and program manager for the Walmart MoneyCard program for another seven years. The two companies also agreed to partner on the creation of a new fintech accelerator which focuses on the intersection of retail and consumer financial services.

The accelerator, called Tailfin Labs, will help startups develop solutions that integrate omni-channel shopping and fintech, which can be aimed either at consumers or businesses. These may involve products built on top of Green Dot’s “Banking-as-a-Service” (BaaS) platform.

“Green Dot is extremely proud and honored to both extend our MoneyCard partnership for many years and to additionally enter into an entirely new equity partnership with Walmart in the creation of a fintech accelerator,” said Steve Streit, Founder and CEO, Green Dot, in a statement. “We believe the combination of Walmart’s unmatched retail ecosystem with Green Dot’s innovative and highly flexible BaaS platform, which enables the world’s largest technology and consumer brands to address their consumers with bespoke financial products and services, has the opportunity to create and bring to market many new and exciting innovations over the years to come.”

walmart money cardWalmart partnered with Green Dot in 2006 to create the Walmart MoneyCard which offers FDIC-insured accounts and cash-back rewards on Walmart purchases, alongside other features like early direct deposit, online bill pay, prize savings entries, and more — as well as the usual set of features you’d have in a personal checking account, but without the fees. It’s now the largest retailer exclusive prepaid account program in the U.S.

In many ways, it was also a precursor to the sort of mobile banking startups seen today, which directly target consumers with similar products.

This is a busy space these days, as more companies go after the growing market of millennials (and even their younger Gen Z counterparts) who don’t want a traditional bank. Instead, they want banking services in a modern, easy-to-use mobile interface, where innovative features help them to better save and manage their money.

Just last week, for example, mobile banking app Current just snagged $20 million more in funding for its service, now used by half a million users. Others in the space include Step, Cleo, N26, Chime, Simple, and Stash, to name a few.

The new accelerator is seemingly poised to capitalize on this trend, while also giving Walmart and Green Dot a new foothold in the market.

“Over the years, Walmart has brought to market many innovative industry-defining financial services offerings to serve our customers – including several introduced through the Walmart MoneyCard program managed by Green Dot,” noted Daniel Eckert, Senior Vice President, Walmart Services and Digital Acceleration, in an announcement. “With this expanded relationship, and by leveraging Walmart’s footprint and existing offerings with Green Dot’s cutting-edge capabilities, we’ll be uniquely positioned to offer an unmatched set of customer experiences that sit at the nexus of omni-channel retail and tech-enabled financial services,” he said.

The new agreement between Green Dot and Walmart begins Jan. 1, 2020 and will replace the agreement that would have otherwise expired in May 2020.

 

29 Oct 2019

Registration is open for TC Sessions: Robotics + AI 2020

It’s time to get your robotics fix, startup fans. That’s right, TC Sessions: Robotics & AI returns to UC Berkeley’s Zellerbach Hall on March 3, 2020. Join us for a day-long deep-dive focused on the intersection of robotics and AI — arguably two of the most exciting and world-changing technologies.

Registration is now open. Save the date and save $100 when you buy an early bird ticket to TC Sessions: Robotics & AI 2020. Want to save even more? Buy in bulk. You’ll save an extra 18% when you purchase four or more tickets at once.

This is our fourth year hosting this event and last year, 1,500 founders, technologists, engineering students and investors heard TechCrunch editors interview top leaders in AI and robotics, participated in workshops, watched live demos, attended speaker Q&As and enjoyed world-class networking. With so many advances in a range of technologies like AI, GPUs, sensors (to name just a few), it’s an exciting time to be part of this rapidly evolving space.

We’re building out the speaker roster and agenda, so keep checking back. In the meantime, take a look at last year’s agenda to get a sense of the quality programming you can expect.

Boston Dynamics founder Marc Raibert, a perennial favorite at TC Sessions: Robotics & AI, offers this perspective on the conference. It “blends the best of thoughtful, research-focused robotics with a unique business in technology focus.”

TC Sessions: Robotics & AI takes place on March 3, 2020 at UC Berkeley’s Zellerbach Hall. It’s not too early to save the date, and it’s never too early to save $100 on the price of admission. Join the top people in robotics and AI for a full day devoted to world-changing technologies.

Is your company interested in sponsoring or exhibiting at TC Sessions: Robotics & AI 2020? Contact our sponsorship sales team by filling out this form.

29 Oct 2019

WhatsApp blames — and sues — mobile spyware maker NSO Group over its zero-day calling exploit

WhatsApp has filed a suit in federal court accusing NSO Group, an Israeli mobile surveillance maker, of creating an exploit that allowed the spyware’s operator to hack into a target’s phone and remotely spy on them.

The lawsuit, filed in a California federal court, said the mobile surveillance outfit “developed their malware in order to access messages and other communications after they were decrypted” on target devices.

The attack worked by exploiting an audio-calling vulnerability in WhatsApp. Users would appear to get an ordinary call, but the malware would quietly infect the device with spyware, giving the attackers full access to the device.

In some cases it happened so quickly, the target’s phone may not have rung at all.

Because WhatsApp is end-to-end encrypted, it’s near-impossible to access the messages as they traverse the internet. But in recent years, governments and mobile spyware companies have begun targeting the devices where the messages were sent or received. The logic goes that if you hack the device, you can obtain its data.

Thats’s what WhatsApp says happened.

WhatsApp, owned by Facebook, quickly patched the vulnerability. Although blame fell fast on NSO Group, WhatsApp did not publicly accuse the company at the time.

In an op-ed, WhatsApp head Will Cathart said the messaging giant “learned that the attackers used servers and Internet-hosting services that were previously associated” with NSO Group, and that certain WhatsApp accounts used during the attacks were traced back to the company.

“While their attack was highly sophisticated, their attempts to cover their tracks were not entirely successful,” said Cathart.

The attack involved disgusing the malicious code as call settings, allowing the surveillance outfit to deliver the code as if it came from WhatsApp’s signaling servers. Once the malicious calls were delivered to the target’s phone, they “injected the malicious code into the memory of the target device — even when the target did not answer the call,” the complaint read. When the code was run, it sent a request to the surveillance company’s servers, and downloaded additional malware to the target’s device.

In total, some 1,400 targeted devices were affected by the exploit, the lawsuit said.

Most people were unaffected by the WhatsApp exploit. But WhatsApp said that over a hundred human rights defenders, journalists and “other members of civil society” were targeted by the attack. Other targets included government officials and diplomats.

WhatsApp is asking for a jury trial.

We’ve reached out to NSO Group for comment, but did not hear back.

29 Oct 2019

Tech giants still not doing enough to fight fakes, says European Commission

It’s a year since the European Commission got a bunch of adtech giants together to spill ink on a voluntary Code of Practice to do something — albeit, nothing very quantifiable — as a first step to stop the spread of disinformation online.

Its latest report card on this voluntary effort sums to the platforms could do better.

The Commission said the same in January. And will doubtless say it again. Unless or until regulators grasp the nettle of online business models that profit by maximizing engagement. As the saying goes, lies fly while the truth comes stumbling after. So attempts to shrink disinformation without fixing the economic incentives to spread BS in the first place are mostly dealing in cosmetic tweaks and optics.

Signatories to the Commission’s EU Code of Practice on Disinformation are: Facebook, Google, Twitter, Mozilla, Microsoft and several trade associations representing online platforms, the advertising industry, and advertisers — including the Internet Advertising Bureau (IAB) and World Federation of Advertisers (WFA).

In a press release assessing today’s annual reports, compiled by signatories, the Commission expresses disappointment that no other Internet platforms or advertising companies have signed up since Microsoft joined as a late addition to the Code this year.

“We commend the commitment of the online platforms to become more transparent about their policies and to establish closer cooperation with researchers, fact-checkers and Member States. However, progress varies a lot between signatories and the reports provide little insight on the actual impact of the self-regulatory measures taken over the past year as well as mechanisms for independent scrutiny,” write commissioners Věra Jourová, Julian King, and Mariya Gabriel said in a joint statement. [emphasis ours]

“While the 2019 European Parliament elections in May were clearly not free from disinformation, the actions and the monthly reporting ahead of the elections contributed to limiting the space for interference and improving the integrity of services, to disrupting economic incentives for disinformation, and to ensuring greater transparency of political and issue-based advertising. Still, large-scale automated propaganda and disinformation persist and there is more work to be done under all areas of the Code. We cannot accept this as a new normal,” they add.

The risk, of course, is that the Commission’s limp-wristed code risks rapidly cementing a milky jelly of self-regulation in the fuzzy zone of disinformation as the new normal, as we warned when the Code launched last year.

The Commission continues to leave the door open (a crack) to doing something platforms can’t (mostly) ignore — i.e. actual regulation — saying it’s assessment of the effectiveness of the Code remains ongoing.

But that’s just a dangled stick. At this transitionary point between outgoing and incoming Commissions, it seems content to stay in a ‘must do better’ holding pattern. (Or: “It’s what the Commission says when it has other priorities,” as one source inside the institution put it.)

A comprehensive assessment of how the Code is working is slated as coming in early 2020 — i.e. after the new Commission has taken up its mandate. So, yes, that’s the sound of the can being kicked a few more months on.

Summing up its main findings from signatories’ self-marked ‘progress’ reports, the outgoing Commission says they have reported improved transparency between themselves vs a year ago on discussing their respective policies against disinformation. 

But it flags poor progress on implementing commitments to empower consumers and the research community.

“The provision of data and search tools is still episodic and arbitrary and does not respond to the needs of researchers for independent scrutiny,” it warns. 

This is ironically an issue that one of the signatories, Mozilla, has been an active critic of others over — including Facebook, whose political ad API it reviewed damningly this year, finding it not fit for purpose and “designed in ways that hinders the important work of researchers, who inform the public and policymakers about the nature and consequences of misinformation”. So, er, ouch.

The Commission is also critical of what it says are “significant” variations in the scope of actions undertaken by platforms to implement “commitments” under the Code, noting also differences in implementation of platform policy; cooperation with stakeholders; and sensitivity to electoral contexts persist across Member States; as well as differences in EU-specific metrics provided.

But given the Code only ever asked for fairly vague action in some pretty broad areas, without prescribing exactly what platforms were committing themselves to doing, nor setting benchmarks for action to be measured against, inconsistency and variety is really what you’d expect. That and the can being kicked down the road. 

The Code did extract one quasi-firm commitment from signatories — on the issue of bot detection and identification — by getting platforms to promise to “establish clear marking systems and rules for bots to ensure their activities cannot be confused with human interactions”.

A year later it’s hard to see clear sign of progress on that goal. Although platforms might argue that what they claim is increased effort toward catching and killing malicious bot accounts before they have a chance to spread any fakes is where most of their sweat is going on that front.

Twitter’s annual report, for instance, talks about what it’s doing to fight “spam and malicious automation strategically and at scale” on its platform — saying its focus is “increasingly on proactively identifying problematic accounts and behaviour rather than waiting until we receive a report”; after which it says it aims to “challenge… accounts engaging in spammy or manipulative behavior before users are ​exposed to ​misleading, inauthentic, or distracting content”.

So, in other words, if Twitter does this perfectly — and catches every malicious bot before it has a chance to tweet — it might plausibly argue that bot labels are redundant. Though it’s clearly not in a position to claim it’s won the spam/malicious bot war yet. Ergo, its users remain at risk of consuming inauthentic tweets that aren’t clearly labeled as such (or even as ‘potentially suspect’ by Twitter). Presumably because these are the accounts that continue slipping under its bot-detection radar.

There’s also nothing in Twitter’s report about it labelling even (non-malicious) bot accounts as bots — for the purpose of preventing accidental confusion (after all satire misinterpreted as truth can also result in disinformation). And this despite the company suggesting a year ago that it was toying with adding contextual labels to bot accounts, at least where it could detect them.

In the event it’s resisted adding any more badges to accounts. While an internal reform of its verification policy for verified account badges was put on pause last year.

Facebook’s report also only makes a passing mention of bots, under a section sub-headed “spam” — where it writes circularly: “Content actioned for spam has increased considerably, since we found and took action on more content that goes against our standards.”

It includes some data-points to back up this claim of more spam squashed — citing a May 2019 Community Standards Enforcement report — where it states that in Q4 2018 and Q1 2019 it acted on 1.8 billion pieces of spam in each of the quarters vs 737 million in Q4 2017; 836 million in Q1 2018; 957 million in Q2 2018; and 1.2 billion in Q3 2018. 

Though it’s lagging on publishing more up-to-date spam data now, noting in the report submitted to the EC that: “Updated spam metrics are expected to be available in November 2019 for Q2 and Q3 2019″ — i.e. conveniently late for inclusion in this report.

Facebook’s report notes ongoing efforts to put contextual labels on certain types of suspect/partisan content, such as labelling photos and videos which have been independently fact-checked as misleading; labelling state-controlled media; and labelling political ads.

Labelling bots is not discussed in the report — presumably because Facebook prefers to focus attention on self-defined spam-removal metrics vs muddying the water with discussion of how much suspect activity it continues to host on its platform, either through incompetence, lack of resources or because it’s politically expedient for its business to do so.

Labelling all these bots would mean Facebook signposting inconsistencies in how it applies its own policies –in a way that might foreground its own political bias. And there’s no self-regulatory mechanism under the sun that will make Facebook fess up to such double-standards.

For now, the Code’s requirement for signatories to publish an annual report on what they’re doing to tackle disinformation looks to be the biggest win so far. Albeit, it’s very loosely bound self-reporting. While some of these ‘reports’ don’t even run to a full page of A4-text — so set your expectations accordingly.

The Commission has published all the reports here. It has also produced its own summary and assessment of them (here).

“Overall, the reporting would benefit from more detailed and qualitative insights in some areas and from further big-picture context, such as trends,” it writes. “In addition, the metrics provided so far are mainly output indicators rather than impact indicators.”

Of the Code generally — as a “self-regulatory standard” — the Commission argues it has “provided an opportunity for greater transparency into the platforms’ policies on disinformation as well as a framework for structured dialogue to monitor, improve and effectively implement those policies”, adding: “This represents progress over the situation prevailing before the Code’s entry into force, while further serious steps by individual signatories and the community as a whole are still necessary.”

29 Oct 2019

Waymo expands self-driving services to include B2B car parts delivery trial

Self-driving vehicle technology company Waymo has expanding its business relationship with automotive retail company AutoNation, the companies announced today. The new extension builds on the existing partnership between Waymo and AutoNation, which began as a way for Waymo to service its Phoenix, Arizona-based vehicles, and which grew last year into an arrangement wherein Waymo would provide autonomous transportation to AutoNation customers on their way to the dealerships.

Now, the partnership enters a new, third real of business: business-to-business goods transportation. Waymo vehicles in the Phoenix, Arizona area will now be used to move car parts between AutoNation’s Toyota Tempe locations and other repair shops in the area, including those run by independent third parties.

Waymo has been focused primarily on passenger transportation, launching and operating a pilot ride-hailing service using its autonomous cars in the Phoenix testing area where its vehicles are cleared to operate. The Alphabet-owned company’s CEO John Krafcik told a group of reporters on Sunday in Detroit that driverless delivery likely has a better chance of catching on early vs. passenger transportation, which could explain why this latest pilot sees Waymo look towards repeatable delivery routes for commonly transported goods.

29 Oct 2019

The future of cybersecurity VC investing with Lightspeed’s Arif Janmohamed

There are two types of enterprise startups: those that create value and those that protect value. Cybersecurity is most definitely part of the latter group, and as a vertical, it has sprawled the past few years as the scale of attacks on companies, organizations, and governments has continuously expanded.

That may be a constant threat for the executives of major companies, but for cybersecurity VCs who pick the right startup targets for investment, it’s a potential gold mine. Here at Extra Crunch, we compiled a list of top VCs who have invested in cybersecurity and enterprise more broadly and asked them what’s interesting in the space these days. We compiled ten of their responses as part of our investor survey and you should definitely take a look for their interesting takes on the space.

But we wanted to go a bit deeper on the topic to learn more about what’s happening right now in cybersecurity. So today, we talk with Arif Janmohamed of Lightspeed Venture Partners, one of the leading investors at one of the top enterprise VC firms in the world. He’s invested in companies ranging from cloud-access security broker Netskope and search analytics platform ThoughtSpot to Qubole (big data analytics), Nutanix (hyper-converged infrastructure), and Arceo.ai (cyber risk management).

Arif head color web

Arif Janmohamed. Image via Lightspeed Venture Partners

TechCrunch’s security guru Zack Whittaker, managing editor Danny Crichton and operations editor Arman Tabatabai sat down with him to discuss what he’s seeing at the earliest stages in cybersecurity, which trends are being ignored by the industry and what he sees as the future of security in an always-changing present.

Introduction and Background

The following interview has been condensed and edited for clarity.

Danny Crichton: Let’s start with a bit of your background.

Arif Janmohamed: Sure. I’m on the early-stage side, so I have the most fun when I’m working with founders at the very earliest stages of company formation, where I can focus on company design, product and go-to-market and then find the right balance of teams to fill that out.

I’m on the board of Netskope, which is a cloud-security company. That one I did the Series B back in 2013. I’m on the board of TripActions, which is a corporate travel company, I did that one and then led the Series A and the Series B. I’m on the board of Moveworks, which is an AI engine for IT that was seeded by me and then I’ve supported them through their subsequent financing. I’m also on the board of a number of other companies.

Am I purely security-focused? The answer is no, I’m very much enterprise-focused. Security in my mind really fits within that rubric of the enterprise stack that’s getting rebuilt for a cloud-first world.

What’s snake oil and what has real value?

Zack Whittaker: So I’ve got a question that I just want to jump right in with. I’m always curious about this, especially when it comes to the very early stage, how do you go about distinguishing between potential snake oil and the things that seem really viable in the security world?