Menu

Timesdelhi.com

January 19, 2019

Snap’s exec team continues to shrink as more reports of internal drama surface

Days after Snap announced the departure of its CFO, reports have emerged that the company’s HR chief was asked to leave following an internal investigation late last year that had led to the firing of its global security head.

The Wall Street Journal is reporting that Snap fired global security head Francis Racioppi late last year after an investigation uncovered that he had engaged in an inappropriate relationship with an outside contractor he had hired. After the relationship ended, Racioppi terminated the woman’s contract, the report says.

Racioppi denied any wrongdoing in a comment to the Journal. A report from Cheddar also adds that one of Racioppi’s assistants was fired for aiding in an attempt to cover up the scandal.

The investigation’s findings reportedly contributed to CEO Evan Spiegel asking the company’s HR head Jason Halbert to step down. Halbert announced his plans to leave the company this week.

While today’s news pins two high-profile executive departures to a single incident, Snap’s executive team has seemed to be losing talent from its ranks at a quickening pace.

Snap did not comment on the reports.

News Source = techcrunch.com

Curious 23andMe twin results show why you should take DNA testing with a grain of salt

If you’ve ever enthusiastically sent your spit off in the mail, you were probably anxious for whatever unexpected insights the current crop of DNA testing companies would send back. Did your ancestors hang out on the Iberian peninsula? What version of your particular family lore does the science support?

Most people who participate in mail-order DNA testing don’t think to question the science behind the results — it’s science after all. But because DNA testing companies lack aggressive oversight and play their algorithms close to the chest, the gems of genealogical insight users hope to glean can be more impressionistic than most of these companies let on.

To that point, Charlsie Agro, host of CBC’s Marketplace, and her twin sister sent for DNA test kits from five companies: 23andMe, AncestryDNA, MyHeritage, FamilyTreeDNA and Living DNA.

As CBC reports, “Despite having virtually identical DNA, the twins did not receive matching results from any of the companies.” That bit shouldn’t come as a surprise. Each company uses its own special sauce to analyze DNA so it’s natural that there would be differences. For example one company, FamilyTreeDNA, attributed 14% of the twins’ DNA to the Middle East, unlike the other four sets of results.

Beyond that, most results were pretty predictable — but things got a bit weird with the 23andMe data.

As CBC reports:

“According to 23andMe’s findings, Charlsie has nearly 10 per cent less “broadly European” ancestry than Carly. She also has French and German ancestry (2.6 per cent) that her sister doesn’t share.

The identical twins also apparently have different degrees of Eastern European heritage — 28 per cent for Charlsie compared to 24.7 per cent for Carly. And while Carly’s Eastern European ancestry was linked to Poland, the country was listed as “not detected” in Charlsie’s results.”

The twins shared their DNA with a computational biology group at Yale which verified that the DNA they sent off was statistically pretty much identical. When questioned for the story, 23andMe noted that its analyses are “statistical estimates” — a phrase that customers should bear in mind.

It’s worth remembering that the study isn’t proper science. With no control group and an n (sample size) of one set of twins, nothing definitive can be gleaned here. But it certainly raises some interesting questions.

Twin studies have played a vital role in scientific research for ages. Often, twin studies allow researchers to explore the effects of biology against those of the environment across any number of traits — addiction, mental illness, heart disease, and so on. In the case of companies like 23andMe, twin studies could shed a bit of light on the secret algorithms that drive user insights and revenue.

Beyond analyzing the cold hard facts of your DNA, companies like 23andMe attract users with promises of “reports” on everything from genetic health risks to obscure geographic corners of a family tree. Most users don’t care about the raw data — they’re after the fluffier, qualitative stuff. The qualitative reporting is where companies can riff a bit, providing a DNA-based “personal wellness coach” or advice about whether you’re meant to be a morning person or a night owl.

Given the way these DNA services work, their ancestry results are surprisingly malleable over time. As 23andMe notes, “because these results reflect the ancestries of individuals currently in our reference database, expect to see your results change over time as that database grows.” As many non-white DNA testing customers have found, many results aren’t nearly as dialed in for anyone with most of their roots beyond Europe. Over time, as more people of color participate, the pool of relevant DNA grows.

Again, the CBC’s casual experiment is by no means definitive science — but neither are DNA testing services. For anyone waiting with bated breath for their test results, remember that there’s still a lot we don’t know about how these companies come to their conclusions. Given the considerable privacy trade-off in handing your genetic material over to big pharma through a for-profit intermediary, it’s just some food for thought.

News Source = techcrunch.com

Free to play games rule the entertainment world with $88 billion in revenue

They may be free, but they sure pay. Games with no upfront cost but a plethora of other ways to make money generated a mind-blowing $88 billion in 2018 according to SuperData’s year-end report — leaving traditional games (and indeed movies and TV) in the dust.

While it may not come as a surprise that F2P (as free to play is often abbreviated) is big business at the end of 2018, the Year of Fortnite, the sheer size of it can hardly fail to impress.

The total gaming market, as this report measures it, amounts to a staggering $110 billion, of which more than half (about $61 billion) came from mobile, which is of course the natural home of the F2P platform.

Credit: SuperData

The $88 billion in F2P revenue across all platforms is large enough to produce a dynamite top 10 and an enormously long tail. Fortnite, with its huge following and multi-platform chops, was far and away the top earner with $2.4 billion in revenue; after that is a jumble of PC, mobile, Asian and Western games of a variety of styles. The top 10 together brought in a total of $14.6 billion — leaving a king’s ransom for thousands of other titles to divide.

The vast majority of F2P revenue comes from Asia. Powerhouse companies like Tencent have been pushing their many microtransaction-based games

“Traditional” gaming, a term that is rapidly losing meaning and relevance, but which we can take to mean a game that you can pay perhaps $60 for and then play without significant further investment, amounted to about $16 billion across PCs and consoles worldwide.

An exception is the immensely popular PlayerUnknown’s Battlegrounds, one of the hits that touched off the “battle royale” craze, which took in a billion on its own — though how much of that is sales versus microtransactions isn’t clear. Amazingly, Grand Theft Auto V, a game that came out five years ago, generated some $628 million last year (mostly from its online portion, no doubt).

The top titles there are nearly all parts of a series, and all lean heavily toward the Western and console-based, with only pennies (comparatively) going to Asian markets. China is a whole different world when it comes to gaming and distribution, so this isn’t too surprising.

Lastly, it would be neglectful not to mention the explosion of viewership on YouTube and Twitch, which together formed half of all gaming video revenue, with Twitch ahead by a considerable margin. But the real winner is Ninja, by far the most-watched streamer on Twitch with an astonishing 218 million hours watched by fans. Congratulations to him and the others making a living in this strange and fabulous new market.

News Source = techcrunch.com

Wine-by-the-glass subscription service Vinebox raises $5.9 million

One SF startup wants you to get home from a day at work and polish off a bottle of wine by yourself.

Vinebox isn’t really trying to get you wasted, these bottles are cute and tiny. The small startup is hoping that they can get consumers into the idea of buying premium quality wine-by-the-glass and they’ve convinced investors there’s something behind this concept as well.

The team has just closed a $5.9 million round of funding led by Harbinger Ventures.

Co-founders Rachel Vodofsky and Matt Dukes were both corporate lawyers several years ago with a taste for good wine, but when Dukes decided to move to France and dig deeper into his burgeoning interest in wineries, the founders set off to see how they could start a consumer business with wine discovery at its heart.

The Y Combinator-backed company began their mission with a quarterly and annual subscription service that set people up with new types of single-serve wine on a rolling basis (as well as a wonderful-sounding wine advent calendar) with the ultimate goal of exposing wine lovers to small-lot wineries they wouldn’t have otherwise come across. The 100ml bottles look more like something you would find in a laboratory than a liquor store.

A quarterly subscription is $78 per quarter and includes 9 wine samples with $15 off purchases of full-sized bottle.

A big drive of the subscription is helping members to discover new favorites. Subscription members can get discounts on full bottles if they stumble upon something that piques their interest. Vinebox says they’ve shipped one million glasses of wine so far.

The company is also now working on multi-packs of their single-serve bottles as they aim to shift consumer habits. With the Usual brand, Vinebox sells what are essentially half-bottles in 6, 12, and 24-packs. Right now  The pricing is similarly premium ( a 12-pack is $96), but Dukes says that they’re trying to reshape the attitudes toward single-serve wine.

“The biggest mold that we wanted to break when we were coming into this was the little bottles of wine you get on the airplane,” Dukes says. “It comes in the little plastic bottles and you just immediately associate with lesser quality, cheaper wine.”

Vinebox is selling a red blend from Sonoma County and a rosé from Santa Barbara under the Usual brand first, but says that they’ve gotten a lot of great customer feedback and can let that drive the direction for what types of wine they move to add next.

With this new bout of funding, the group is looking to grow its team and further scale their online distribution as they hope to get their single-serve bottles into more people’s hands.

News Source = techcrunch.com

Salesforce is building new tower in Dublin and adding hundreds of jobs

Salesforce put the finishing touches on a tower in San Francisco last year. In October, it announced Salesforce Tower in Atlanta and today it was Dublin’s turn. Everyone gets a tower.

Salesforce first opened an office in Dublin back in 2001, and has expanded to 1400 employees today. Today’s announcement represents a significant commitment to expand even further, adding 1500 new jobs over the next five years.

The new tower in Dublin is actually going to be a campus made up of 4 interconnecting buildings on the River Liffey. It will eventually encompass 430,000 square feet with the first employees expected to move into the new facility sometime in the middle of 2021.

Artist’s rendering of Salesforce Tower Dublin rooftop garden. Picture: Salesforce

Martin Shanahan, who is CEO at IDA Ireland, the state agency responsible for attracting foreign investment in Ireland, called this one of the largest single jobs announcements in the 70 year history of his organization.

As with all things Salesforce, they will do this up big with “immersive video lobby” and a hospitality space for Salesforce employees, customers and partners. This space, which will be known as the “Ohana Floor,” will also be available for use by non-profits.They plan to build paths along the river too that will connect the campus to the city center.

Artist’s rendering of Salesforce Tower Dublin lobby. Picture: Salesforce

The company intends to make the project “one of the most sustainable building projects to-date” in Dublin, according to a statement announcing the project. What does that mean? It will among other things be a nearly Net Zero Energy building and it will use 100 percent renewable energy including onsite solar panels.

Finally, as part of the company’s commitment to the local communities in which it operates, it announced a $1 million grant to Educate Together, an education non-profit. The grant should help the organization expand its mission running equality-based schools. Salesforce has been supporting the group since 2009 with software grants, as well as a program where Salesforce employees volunteer at some of the organization’s schools.

News Source = techcrunch.com

1 2 3 12,483
Go to Top