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Nintendo wants startups to pitch new Switch concepts
If you thought Nintendo opening the Switch to new indie games every quarter was a big shift for the company, wait 'til you hear that it's getting into startups. The venerable video game corporation has partnered with Scrum Ventures to find companies tinkering with new ways to play with or use Nintendo's flagship console.
A fifth of startup founders think sexism reports are 'overblown'
Despite the pervasive issue of sexism and harassment in Silicon Valley gaining prominence in recent times, it seems the industry still has a long way to go in acknowledging the problem. A survey by venture firm First Round Capital polled 800 startup founders and found that 19 percent of respondents (that's nearly a fifth) believe sexual harassment in tech has been "overblown" by the media, while 40 percent say the issue is "more significant than the media is reporting". Meanwhile, 53 percent say they, or someone they know, has personally experienced sexual harassment in the workplace.
Tech incubator Y Combinator severs ties with Peter Thiel
It's safe to say that Peter Thiel's relationship with the tech industry has been... contentious. His wealth and willingness to invest have made him highly influential, but his eagerness to stifle media criticism and (at least for a time) support President Trump have put him at odds with a Silicon Valley culture that values things like immigration and renewable energy. However, it looks like he won't play as large a role as he once did. Gab and BuzzFeed News have discovered that Y Combinator, the primarily tech-focused startup incubator, quietly cut ties with Peter Thiel. His 2015 introductory post at Y Combinator now includes a message saying Thiel is "no longer affiliated" with the accelerator. It's not certain when this happened, but modifications to the post's web code last took place on October 30th.
ASUS is spending millions to bring US startups to Asia
ASUS mounted the IFA 2017 stage a couple weeks ago and revealed its next lineup of laptops and 2-in-1s, along with a surprise: Its new mixed-reality headset. But the company's next step moving beyond its computer-centric product line isn't a new device. The Taiwan-based ASUS is starting a $50 million venture capital fund to draw startup talent and ideas from Silicon Valley over to Asia.
Google's latest venture fund will back AI startups
There's no question that Google believes artificial intelligence is the future, but it doesn't feel like it needs to all the hard work by itself. It's willing to give others a helping hand. To that end, Google has launched a venture capital firm, Gradient Ventures, that will offer financial backing and "technical mentorship" to AI startups. They'll have access to experts from Google itself, including futurist Ray Kurzweil, design mastermind Matias Duarte and X lab leader Astro Teller.
Toyota's $100 million fund will back AI, robotics startups
Today, Toyota announced the launch of Toyota AI Ventures, a new venture capital subsidiary focused on startup tech companies working on artificial intelligence. The fund has received an initial $100 million from the Toyota Research Institute (TRI), an AI-, robotics- and autonomous car-focused initiative created in 2015.
Jay Z launches a venture capital firm to back startups
Jay Z was rumored to be launching a venture capital firm, and it looks like the scuttlebutt was true. His company Roc Nation has formed Arrive, a VC "platform" that will help younger startups build their brands and businesses. Roc is betting that its experience in fostering artists and athletes will translate to the corporate world. Arrive doesn't have a fund of its own just yet, but one is in the works.
Project Include cuts ties with Y Combinator over Thiel and Trump
Project Include, a high-profile Silicon Valley diversity initiative, has officially cut ties with the influential Y Combinator venture incubator due to its ties to prominent Donald Trump supporter, Peter Thiel. The venture capitalist gave a speech at the Republican National Convention, and is reported to be offering a $1.25 million donation to Trump. Project Include cofounder Ellen Pao called it "a direct contribution to creating hate and instilling fear."
Twitter's former CEO is working on a fitness platform
Dick Costolo hasn't been sitting on his thumbs since getting the boot from Twitter. The former CEO has announced that he's starting a new company whose software "reimagines the path to personal fitness." It'll stress motivation for exercise, he says, not just tracking your vitals. Costolo isn't saying when he expects products to be ready (he hasn't even mentioned a company name yet), but there's at least a roadmap.
Google Capital to make investments in maturing tech firms
Google Ventures has a reputation for backing tech winners early on -- it gave a boost to this little startup called Nest, for example. It wants to exert influence every step of the way, however, and it's launching Google Capital to make this happen. The new fund is investing in firms that aren't quite so young, but are doing "amazing things" aligned with Google's interests, according to general partner Mike Pearson. While Google Capital won't make its formal debut until the summer, it has already invested in three unnamed companies; we wouldn't be surprised if we learn a lot more about the fund a few months' time.
Pebble receives $15 mil in funding, releases SDK and Sports API
The company behind the Pebble smartwatch, which not only looks awesome but connects up to your iPhone, has picked up US$15 million in funding from venture capitalists, and has released yet another version of its SDK. The funding is obviously a solid chunk of change, and should help Pebble not only fulfill its current orders (the company is still aiming to get watches out to all of its supporters from a successful Kickstarter bid), but push the company on into the future as well. This latest SDK release, called the PebbleKit, allows for two-way communication back and forth between the watch and your smartphone, which means there are lots of new options for apps to work with the watch as a display or even a remote control. The company has also released a Sports API, which should allow for GPS-enabled apps (like running apps) to send and receive information from the watch. Pebble's initial set of features was quite limited, but this API update should make a lot of new apps possible, and of course we'll likely see more in the future. You can pre-order a Pebble watch on the main website right now for $150.00. Or you may want to wait just a bit longer, if you happen to believe those crazy rumors about an Apple iWatch.
OUYA delaying retail launch to June 25th, altering controller to fix button sticking issue
The OUYA game console is shifting its launch from June 4th to June 25th, the company revealed in a press release this morning. Speaking with our friends at Joystiq, CEO Julie Uhrman explained the decision to push the console's retail launch back as a measure of keeping up with retail demand. "We've had incredibly positive reactions from our retail partners," Uhrman said. The date shift, "will allow us to create more units and, basically, have more units on store shelves." The company also revealed that it's altering the existing controller's button holes to ensure that retail buyers don't run into the same sticking issue that Kickstarter backers have been dealing with. And despite those two pieces of news sounding an awful lot like they're connected (the delay and the controller alteration), Uhrman claims they're not. "We made that change very early so all the units are being produced with those larger button holes," she said. At this point, it's not clear if OUYA will hook up early backers with a new controller upon request (or perhaps just new faceplates), but we've asked for more information.
Google forms the Glass Collective to invest in eye technology entrepreneurs
Google believes that it's naive to build a wearable technology like Google Glass and expect successful businesses to simply materialize from thin air; those firms will need a financial nudge, too. Accordingly, Google is forming the Glass Collective to invest in projects centering on its eyewear. The partnership will see Google Ventures, Andreessen Horowitz and Kleiner Perkins Caufield & Byers unite on seed funding for those US-based startups which show promise in areas like communication and navigation. The group hasn't named any targets for its cash, but it's obviously very early days for both Glass and the Collective -- Google needs more developers in the field before it can shower companies with support. Update: According to TechCrunch, Google mentioned during the event that it hopes to get Glass hardware into developers hands "in the next month." Since it started preregistering folks at last year's I/O event, we'd also hope they will arrive in time for this year's Google I/O and inevitable skydive-to-stage live stream.
OnLive was reportedly sold for roughly $5 million to venture capital firm
Even though weeks have passed since that well-documented OnLive kerfuffle took place, where unfortunate layoffs and the formation of a "new company" were at the forefront of it all, previously unknown details are still coming out of the woodwork. According to Mercury News, the once-promising cloud gaming outfit was purchased by a venture capital group for a mere $4.8 million, which appears to be a relatively small amount of cash for an outfit once valued upwards of $1.8 billion -- not to mention when compared to, say, rival Gaikai's $380 million sale to Sony. Still, this is said to have been due to the bad shape OnLive was in at the time, with the Palo Alto-based company reportedly owing more than $18 million in debt, leaving it with no choice but to take "the best that it could get."
Kickstarter talks to us about product 'pre-orders,' won't force refunds when creators flake
Kickstarter has proven an incredibly effective venue for connecting project creators with monetary support -- inventors pitch directly to consumers, indie filmmakers meet indie producers and food trucks get the financial push necessary to take their restaurants to the road. With the latter two, backers don't necessarily expect goods in return, save for an overvalued t-shirt, bumper sticker or film credit. When it comes to electronics, however, funders are often promised a first-off-the-line gadget -- one that may never arrive at their door. One oft-overlooked, yet critical detail should help curb expectations, while also serving to filter out pledges that are motivated by the pre-order promise, from those that offer financial support without a guaranteed return. Like it or not, all transactions fall into that second category. Pre-order offers may go unfulfilled, and some pledges may be reduced to donations, if a project creator ends up unable to deliver an item as intended. And such situations may not prompt a refund, souring the experience for an increasing number of hopeful device owners. Join us past the break for an explanation from the Kickstarter team, and a closer look at some recent examples.
Nokia could sell luxury Vertu brand to VC firm for $265 million
As much as it'd be interesting to see Windows Phone running on a $21,000 gold-plated cigar lighter, that's probably never going to happen. According to the UK's Financial Times, Nokia has been trying to hive off its luxury Vertu brand for months already, and has finally found a suitor with the right cash / sense ratio. Although still far from a done deal, we're told that venture capitalist firm Permira is willing to contribute up to $265 million to Nokia's needy coffers -- which might sound like a lot, but is mere costume jewelry to a manufacturer that just lost $1.7 billion.
Selena Gomez talks tech with TUAW
Before 2011, you probably only knew who Selena Gomez was if you had teenagers or younger children. But this year the young woman who plays Alex on Disney's Emmy Award-winning Wizards of Waverly Place has made her way into the mainstream spotlight. In the last twelve months she's starred in her second feature film, been hounded endlessly by paparazzi because she's dating one of music's biggest stars, was active in her role as a UNICEF ambassador, released (with her band) her third studio album while touring around the globe with them, and hosted the EMAs. And almost as if she's trying to squeeze everything possible into this year, she'll be working until the stroke of midnight on December 31st in New York where she'll be performing at MTV's live New Year's Eve special. Disney has also announced that the series finale of Wizards of Waverly Place will air in early January. All that would be a lot for anyone, yet there's still one more thing that Selena has done this year. This past November the 19-year-old pop star from Texas also became a tech venture capitalist. Along with CrossCut Ventures and a group of ten other seasoned investors, she took part in a first round of funding for the iPhone and Android app Postcard on the Run. The app, which I reviewed a few days ago, lets users turn any digital image on their iPhone into a physical postcard that can be instantly sent to anyone in the world. I've recently been finishing up a book on the cult of celebrity in America (and for research, reading way more Daily Mail gossip than could possibly be considered healthy), so when I saw Selena Gomez's name pop up on one of my tech news feeds instead my celebrity news feeds, I was taken aback. The November announcement said that Selena had become an investor in an iPhone app. But for the life of me I couldn't figure out why a nineteen year old who has so much other stuff going for her right now felt the need to do something so -- well, compared to all she's done -- so relatively small; not to mention something most others in the tech industry don't do until their late 20s or early 30s. Don't get me wrong, Postcard on the Run is a very good app. It's actually one of my favorites. But that's all it is -- a single app. And if you're doing it for the money, why not invest in a bigger app, or a developer who has lots of apps? I mean, Ashton Kutcher I get. He's another celebrity who is also a prominent tech VC. But his strategy is fairly obvious. Lots of investments (not to mention endorsement deals with tech-friendly companies like Nikon). Big portfolio. Big profits. But a single app with a first time developer? And at 19? So I contacted Selena's representatives and she agreed to an interview with me early last week. What I found out was something all of us reading this are familiar with. It's why some of us are developers and all of us are users. You get into it because you love the product. Because you can't stop talking about it and you want to be part of it -- any way you can. That's exactly what happened to Selena. In September she was stuck on her tour bus between performances; she came across Postcard on the Run in the App Store and started sending postcards with it. "I have my iPhone with my all the time that's why I think Postcard on the Run is such a great concept. The one thing people have with them at all times is their phone and the app makes it so easy to send cards and keep in touch with people in a more personal way," she tells me. "I got excited about something and wanted to be a part of it." At first I think "what's wrong with email?" but then, perhaps channeling a bit of my mother, I do have to admit a physical note is more personal than an electronic one. I ask Selena if she thinks there's room for both traditional and electronic greetings in the future? Does one mean more to her than another? "I really think it can be a combination of both," she says. "There's something really nice and special about sending and receiving mail the old fashioned way. Who doesn't like getting things in the mail?" A Twitter fan base of 9 million. Check. 25 million "Likes" on Facebook. Check. Likes to wait for something in the mail? Uh, check. Who knew? After deciding she wanted to get involved it was time to contact the app's creator, Josh Brooks. I ask her if Josh thought someone was playing a prank on him at first. I mean, if I got an email from "Selena Gomez" saying she wanted to help any way she could on my next book project, I wouldn't take it too seriously. She laughs at my question, but shrugs off the suggestion. "I actually talked to my stepdad about it and he and I reached out to Josh directly," she says. "But yeah, Josh was pretty excited." For his part, Josh tells me that he didn't disbelieve the email, but he did admit to using Google for what it does best. "And so I checked it out and everything made sense. It was way interesting and we had a couple more emails and then hopped on the phone." When asked how long it took from that first email to the time she officially came on board Selena says, "Not very long at all. I guess it took three or four weeks." But the timing turned out to be serendipitous. Before Selena contacted Josh, he already had a number of angel investors committed along with CrossCut Ventures, and they were looking to finish up the financing so he could take the app further. Though Selena nor Josh are releasing individual investment numbers, the closing round that Selena invested in was $750,000. I asked Selena why so many celebrities seem to be getting into tech investing. From an app developer's standpoint, it's good press. But besides financial incentive, is there any other reason for the celebrity to do it? "I can't speak for others but for me, having grown up in the 'digital age' it feels like a natural," she says. "I'm always on the go, and the one thing always with me is my phone and I'm excited about being part of a technology that helps people stay in touch in a real way. Postcard on the Run's technology has the added benefit of working in conjunction with projects or initiatives I'm working on directly." As she tells me about the features of the app, you can tell her love for Postcard on the Run is clear. "I genuinely like [POTR's] approach to the online/offline space. It's super simple -- that's key." Like anyone else, I understand liking a product and wanting to get involved, but I ask Selena what an actress and singer could bring to an iPhone app? Especially one that had it's territory invaded by Apple and its Cards app. I mean, she's already conquered television, movies, and music. Did she really feel like she needed another challenge? But this is where she gets back to that something no one can argue with: "I don't think it's as much about taking on Cupertino, but creating a product that people will use, love and share." In other words, worry about the product, not the competition. As for what she can contribute, Selena doesn't pretend to be a Silicon Valley wiz or tech titan. She openly admits that -- at least in the app world -- she's still a fresh face. "This world is somewhat new to me, but Josh and I have a really comfortable relationship. We're constantly in touch regarding everything from product updates to looking at new ways to incorporate Postcard on the Run into other projects and campaigns. More than anything, at least for now, our main goal is build the profile of the company." And with star power like Selena's, building the profile of the company shouldn't be much of a problem. I ask her how her name recognition has affected download numbers, to which she modestly replies, "There's been a jump." When I asked others who know Selena what she is really like I got answers of "great person," "super sweet," "family oriented," and "She's one of the most warm individuals at her level that I've ever met." Add "humble" to that list too. So I ask Josh how much Selena's involvement has helped. "Selena's strength is not only her ability to reach a younger audience, but it's also to speak to just a different culture that is so digitally friendly. I almost look at her as an ambassador to Postcard on the Run as she can help carry our voice to a different audience," he tells me. "When she makes an announcement about Postcard on the Run you see [download] spikes that are ridiculous. It's out of control. It's tens of thousands of downloads as a result of her supporting or pushing out something cool that's happening with Postcard on the Run. People really want to engage with her and she has fun doing it." There's the boastfulness I was looking for. But Josh, who has a deep history in the talent and music industry, is also earnest in his reply about Selena's role as a creative advisor as well. "If you're between the ages of 16 and 22 your skill sets are just different than ours. She personifies this really interesting, multi-thread of a talent like no other. She's extremely real and genuine about how she sees this stuff working." For now, Selena is happy working to help make Postcard on the Run a success and told me she has no other plans for any other app investments at the moment. She'll be busy performing and promoting well into 2012. However, if you're hoping to get her attention with your app she did tell me she generally likes word games and photo apps. Just make sure those apps are built out of a passion and not solely for profits. Note: Love Selena? Love postcards? Check back the Tuesday after Christmas for a sweet promotion and giveaway from Selena, Postcard on the Run, and TUAW!
Insert Coin: YouTurn accelerometer-based turn signal system for cyclists
In Insert Coin, we look at an exciting new tech project that requires funding before it can hit production. If you'd like to pitch a project, please send us a tip with "Insert Coin" as the subject line. Many of us who bike in the city ride in constant fear of being tapped by a taxi cab, or crushed by a bus. There's no way to completely eradicate the risk of being run over by a much larger motorized vehicle, but making yourself easily visible -- both at night and during the day -- can certainly make a difference. Smart cyclists use hand signals long before they need to make a turn, but the YouTurn signal system aims to make those indicators difficult for drivers to miss, with an accelerometer-based gadget that illuminates an arrow in the direction of your turn. If you want to turn left, for example, simply point your hand to the left, and the device will flash a giant yellow chevron. The prototype you'll see in the video below is integrated with a glove, though the final version will simply attach to the back of your hand, and can be stored in a bag when you're not on your bike. There's no mention of durability or waterproofing, though since the inventor's objective is to enhance safety, we imagine he'll be taking precautions to avoid electrocution in the rain. YouTurn inventor Jack O'Neal launched a Kickstarter page to help fund his project, and is accepting preorders at $50 a pop. There's no final pricing listed at this point, but at 50 bucks for a first-run YouTurn, we were happy to make the pledge. We hope to see O'Neal meet his funding goal and send these to production, but until then, we'll keep looking both ways and hoping for the best.
Nuclear fusion startup gets Jeff Bezos backing, won't be dropping any bombs
Here's a phrase we never though we'd utter: Bezos is the bomb! Okay, so maybe a nuke reference isn't exactly appropriate here, considering Jeff Bezos is actually backing a company that's looking to create cheap energy through nuclear fusion, but we couldn't resist. General Fusion, a nuclear fusion startup, released a statement today saying that it has completed a $19.5 million round of funding that included backing by the Amazon founder's Bezos Expeditions. According the company's website, General Fusion's approach to generating "safe and plentiful" energy employs a concept created about 30 years ago called "magnetic target fusion," and expects commercialization of its process could come before the end of the decade. Full PR after the break.
Apperian picks up first enterprise iFund payout
The iFund has been pretty influential ever since it was announced a couple of years ago -- it's a pool of money set up by Apple and a few other companies to support and grow companies that are contributing to the iOS ecosystem. It's been growing along with Apple's platform, and now the fund has made its first contribution to an enterprise developer. Apperian is a company that helps enterprises create and deploy their own mobile apps, and it's picked up $9.5 million in a round of funding that includes money from the iFund. We've covered the use of iPhone and iPad in business quite a bit, and Apperian sits squarely in that wheelhouse, consulting with various companies on how to create and securely distribute their own mobile apps. iFund's Matt Murphy says that Apperian is riding the wave of mobile devices that are showing up in the corporate workplace, and that "Apperian's solution is perfectly timed to help enterprises rollout and manage all their applications across their employee base and its wide variety of smart devices." Sounds like a solid plan. It's excellent to see Apple's platform growing in all kinds of different directions.
