Business
Orbit Fab becomes first startup to supply water to ISS, paving the way for satellite refueling
Not even two years into its existence, orbital fuel supply startup Orbit Fab has chalked up a big win – successfully supplying the International Space Station with water, a first for any private company. It’s a big deal because providing water to the ISS involved a multi-day refueling process, done in microgravity, using processes and equipment Orbit Fab developed itself.
The key ingredient here, per ISS U.S. National Laboratory COO Kenneth Shields, which was the contracting agency for Orbit Fab’s refueling test, is that this method of resupply is totally out of spec in terms of how this process was designed to work on the ISS. By creating and successfully demonstrating a system that the ISS designers never conceived, Orbit Fab has shown that both private companies and NASA have the flexibility needed to build business models on existing space infrastructure.
The technology Orbit Fab developed and demonstrated has broader applications than just moving water around in space. Water was used in this example specifically because it’s one of the most inert propellants used in spaceflight thrusters, but the methods could extend to other common propellants, and make it possible to refuel satellites in orbit. Orbit Fab is working towards establish standard for satellite refueling interfaces to be used in orbital hardware, which could go a long way towards making it common practice to develop reusable satellites, instead of sticking with the more or less disposable hardware model used today.
Startups like Orbit Fab are the key to unlocking true commercialization of space, by identifying points in the value chain where innovation or improvement can lead to cost or resource efficiencies and ensure that space business is actually also viable business, in terms of profit potential.
nnToday, Facebook is coming together with 27 organizations around the world to start the non-profit Libra Association and…
nPosted by Mark Zuckerberg on Tuesday, June 18, 2019
A Global Coin
nFacebook got one thing right for sure: today’s money doesn’t work for everyone. Those of us living comfortably in developed nations likely don’t see the hardships that befall migrant workers or the unbanked abroad. Preyed on by greedy payday lenders and high-fee remittance services, targeted by muggers, and left out of traditional financial services, the poor get poorer. Libra has the potential to get more money from working parents back to their families and help people retain credit even if they’re robbed of their physical possessions. That would do more to accomplish Facebook’s mission of making the world feel smaller than all the News Feed Likes combined.
nIf Facebook succeeds and legions of people cash in money for Libra, it and the other founding members of the Libra Association could earn big dividends on the interest. And if suddenly it becomes super quick to buy things through Facebook using Libra, businesses will boost their ad spend there. But if Libra gets hacked or proves unreliable, it could cost lots of people around the world money while souring them on cryptocurrencies. And by offering an open Libra platform, shady developers could build apps that snatch not just people’s personal info like Cambridge Analytica, but their hard-earned digital cash.
nFacebook just tried to reinvent money. Next year, we’ll see if the Libra Association can pull it off. It took me 4000 words to explain Libra, but at least now you can make up your own mind about whether to be scared of Facebook crypto.
n","protected":false},"excerpt":{"rendered":"Facebook has finally revealed the details of its cryptocurrency Libra, which will let you buy things or send money to people with nearly zero fees. You’ll pseudonymously buy or cash out your Libra online or at local exchange points like grocery stores, and spend it using interoperable third-party wallet apps or Facebook’s own Calibra wallet […] n","protected":false},"author":1603003,"featured_media":1845391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Facebook announces Libra cryptocurrency: All you need to know https://tcrn.ch/2FjoqzU by 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Constine","url":"","description":"","link":"https://techcrunch.com/author/josh-constine/","slug":"josh-constine","avatar_urls":{"24":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=96&d=identicon&r=g"},"links":{"homepage":"http://www.JoshConstine.com","facebook":"http://www.facebook.com/JoshConstine","twitter":"https://twitter.com/joshconstine","linkedin":"https://www.linkedin.com/in/joshconstine/","crunchbase":"https://www.crunchbase.com/person/josh-constine"},"position":"Editor-At-Large","cbDescription":"
Josh Constine is a technology journalist who specializes in deep analysis of social products. He is currently an Editor-At-Large for TechCrunch and is available for speaking engagements.
nnPreviously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.
nnConstine graduated from Stanford University in 2009 with a Master's degree in Cybersociology, examining the influence of technology on social interaction. He researched the impact of privacy controls on the socialization of children, meme popularity cycles, and what influences the click through rate of links posted to Twitter.
nnConstine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.
nnJosh Constine is an experienced public speaker, and has moderated over 120 on-stage interviews in 15 countries with leaders including Facebook CEO Mark Zuckerberg, whistleblower Edward Snowden (via on-stage video conference), and U.S. Senator Cory Booker. He is available to moderate panels and fireside chats, deliver keynotes, and judge hackathon and pitch competitions.
nnConstine has been quoted by The Wall Street Journal, CNN Money, The Atlantic, BBC World Magazine, Slate, and more, plus has been featured on television on Good Morning, America, The Today Show, China Central Television, and Fox News. Constine is ranked as the #1 most cited tech journalist on prestigious news aggregator Techmeme.
nn [Disclosures: Josh Constine temporarily advised a college friend's social location-sharing startup codenamed 'Signal' that was based in San Francisco before dissolving in 2015. This advising role was cleared with AOL and TechCrunch's editors and has concluded. Constine's fiancu00e9e Andee Gardiner co-founded startup accelerator Founders Embassy. Constine's cousin Darren Lachtman is the founder of influencer advertising startup Niche that was acquired by Twitter, and he's since left and founded teen content studio Brat. Constine does not write about Founders Embassy or Brat. Constine has personal acquaintances stemming from college housing circa 2007 with founders at Skybox Imaging (now Terra Bella), Hustle, Snapchat, and Robinhood, but does not maintain close social ties with them nor does that influence his writing. Constine occasionally does paid speaking engagements at conferences, but only those funded by companies he does not cover. Constine owns a small position in Ethereum and Bitcoin cryptocurrencies, does not day-trade, and discloses his positions directly in articles where appropriate. Constine does not do consulting, angel investing, or public stock trading beyond public stock invesments by his parents' estate that he has no role in managing or advising.] ","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/v1415412437/xje35licfau9iewxnf44.png","twitter":"joshconstine","_links":{"self":[{"href":"https://techcrunch.com/wp-json/tc/v1/users/1603003"}],"collection":[{"href":"https://techcrunch.com/wp-json/tc/v1/users"}]}}],"replies":[[{"id":666067,"parent":0,"author":0,"author_name":"c r","author_url":"","date":"2019-06-18T03:10:07","content":{"rendered":"So, why do I care if the vendor has to pay transaction fees to Visa? That doesnu2019t seem like reason enough for me to adopt a new currency.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666067","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"GBWCMWNZ2AORDOFG24Z57R2GFY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"children":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments?parent=666067"}]}},{"id":666072,"parent":0,"author":0,"author_name":"Erik de Vries","author_url":"","date":"2019-06-18T03:44:18","content":{"rendered":"This may replace cash or debit transactions for many people. It will be a hard sell to credit card customers in the US though. Credit cards have 4 benefits over Libra.
n1) Ability to spend now and pay later. Even without interest when paying within a month.
n2) Ability to earn cash back or rewards. The merchants are paying for fees and rewards, but in the US they rarely charge the customer for those fees.
n3) Transactions are not final as they are with cash, debit, and Libra. Customer can challenge fraudulent charges and get transactions reversed.
n4) Credit cards are accepted almost everywhere in the US.
That said, this looks to be the best attempt to create a stable crypto currency so far. This may gain a lot of traction in countries where people donu2019t have access to stable currencies and for people that donu2019t have access to credit.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666072","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S3BOOWUGAEVKG3MQPVHAB5IKJA"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666072"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666074,"parent":0,"author":0,"author_name":"S N","author_url":"","date":"2019-06-18T04:03:48","content":{"rendered":"I am sceptical. If KYC is a requirement, what’s to prevent them from censoring people they don’t like? For example, if you own a history channel on YouTube or something like that, and they decide to ban you for hate speech. And all of a sudden you can’t spend your Libra anymore.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666074","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"M73UWALWXVWUBJ3WIOUUDUHAGQ"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666074"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666076,"parent":0,"author":0,"author_name":"Charles Porter","author_url":"","date":"2019-06-18T04:36:01","content":{"rendered":"Facebook is known for censoring undesirable content and collecting obscene amounts of private data on its users (and non-users. Facebook subsidiary WhatsApp announced that it would be suing users for violating its TOS, even if that violation occurred on a different platform or even meat-space.
nCan’t imagine that FaceBucks will be free from those concerns.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666076","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"KST5RH2GOMT5SGZO3XAUZVZ3QY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666076"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666082,"parent":0,"author":0,"author_name":"Shannon Butler","author_url":"","date":"2019-06-18T04:57:49","content":{"rendered":"I haven’t read the white paper yet. I think Libra is going to have significant difficulty in maintaining the stability of the currency unless the gas charges are high to disincentivize arbitrage or there are stringent rules on trading.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666082","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"NBRR4URN2JESBPUFJIP2MGAZAG"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666082"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666069,"parent":666067,"author":0,"author_name":"F F","author_url":"","date":"2019-06-18T03:24:35","content":{"rendered":"Hm… how about sending money to oversea? When you travel, you need to do currency exchange, you lose heaps of money by doing that. 7% sounds like a fair figure.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666069","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S7U2QTVHQRYVXIDR2LILVKDOYQ"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666069"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"in-reply-to":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}]}},{"id":666073,"parent":666067,"author":0,"author_name":"Erik de Vries","author_url":"","date":"2019-06-18T03:56:55","content":{"rendered":"Companies like TransferWise are lowering the cost of international transfers and access to money overseas. You donu2019t need crypto currencies to take on the remittance industry. You just need a company with less overhead and more automation to reduce the transaction costs.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666073","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S3BOOWUGAEVKG3MQPVHAB5IKJA"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666073"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"in-reply-to":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}]}},{"id":666080,"parent":666067,"author":0,"author_name":"Shannon Butler","author_url":"","date":"2019-06-18T04:50:50","content":{"rendered":"@Erik De Vries Transferwise is unfortunately still really expensive. I’d say due to the regulatory requirements imposed on these types of companies. As regulation comes into place this platform is likely to also become more expensive until it can be truly decentralized.
n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666080","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"NBRR4URN2JESBPUFJIP2MGAZAG"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666080"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"in-reply-to":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}]}}]],"author":[{"id":1603003,"name":"Josh Constine","url":"","description":"","link":"https://techcrunch.com/author/josh-constine/","slug":"josh-constine","avatar_urls":{"24":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/fd3b857e7f0024396cdbd36c4c102a5d?s=96&d=identicon&r=g"},"links":{"homepage":"http://www.JoshConstine.com","facebook":"http://www.facebook.com/JoshConstine","twitter":"https://twitter.com/joshconstine","linkedin":"https://www.linkedin.com/in/joshconstine/","crunchbase":"https://www.crunchbase.com/person/josh-constine"},"position":"Editor-At-Large","cbDescription":"Josh Constine is a technology journalist who specializes in deep analysis of social products. He is currently an Editor-At-Large for TechCrunch and is available for speaking engagements.
nnPreviously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.
nnConstine graduated from Stanford University in 2009 with a Master's degree in Cybersociology, examining the influence of technology on social interaction. He researched the impact of privacy controls on the socialization of children, meme popularity cycles, and what influences the click through rate of links posted to Twitter.
nnConstine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.
nnJosh Constine is an experienced public speaker, and has moderated over 120 on-stage interviews in 15 countries with leaders including Facebook CEO Mark Zuckerberg, whistleblower Edward Snowden (via on-stage video conference), and U.S. Senator Cory Booker. He is available to moderate panels and fireside chats, deliver keynotes, and judge hackathon and pitch competitions.
nnConstine has been quoted by The Wall Street Journal, CNN Money, The Atlantic, BBC World Magazine, Slate, and more, plus has been featured on television on Good Morning, America, The Today Show, China Central Television, and Fox News. Constine is ranked as the #1 most cited tech journalist on prestigious news aggregator Techmeme.
nn [Disclosures: Josh Constine temporarily advised a college friend's social location-sharing startup codenamed 'Signal' that was based in San Francisco before dissolving in 2015. This advising role was cleared with AOL and TechCrunch's editors and has concluded. Constine's fiancu00e9e Andee Gardiner co-founded startup accelerator Founders Embassy. Constine's cousin Darren Lachtman is the founder of influencer advertising startup Niche that was acquired by Twitter, and he's since left and founded teen content studio Brat. Constine does not write about Founders Embassy or Brat. Constine has personal acquaintances stemming from college housing circa 2007 with founders at Skybox Imaging (now Terra Bella), Hustle, Snapchat, and Robinhood, but does not maintain close social ties with them nor does that influence his writing. Constine occasionally does paid speaking engagements at conferences, but only those funded by companies he does not cover. Constine owns a small position in Ethereum and Bitcoin cryptocurrencies, does not day-trade, and discloses his positions directly in articles where appropriate. Constine does not do consulting, angel investing, or public stock trading beyond public stock invesments by his parents' estate that he has no role in managing or advising.] ","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/v1415412437/xje35licfau9iewxnf44.png","twitter":"joshconstine","_links":{"self":[{"href":"https://techcrunch.com/wp-json/tc/v1/users/1603003"}],"collection":[{"href":"https://techcrunch.com/wp-json/tc/v1/users"}]}}],"wp:featuredmedia":[{"id":1845391,"date":"2019-06-18T02:00:18","slug":"facebook-libra-2","type":"attachment","link":"https://techcrunch.com/2019/06/18/facebook-libra/facebook-libra-2/","title":{"rendered":"Facebook 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tiny phone is available unlocked at $350"},"content":{"rendered":"The first time I showed the Palm phone to the TechCrunch staff, they were excited. At the very least, it was a unique take on the category, designed to be a second phone for those moments that didnu2019t require a larger, bulkier device.
nBut reality set in pretty quickly. The deviceu2019s capabilities were severely limited by a number of factors, including size. The biggest issue, however, was a Verizon exclusive that only let users purchase the device as a second handset tied to an existing account.
nBack in April, the company announced that the 3.3-inch phone could be purchased as a standalone device u2014 albeit still through Verizon or US Mobile. Today, itu2019s expanding that, making the handset available unlocked, so it will work with AT&T, Verizon, T-Mobile and MetroPCS SIMs.
n nThe phoneu2019s available u201cat onlyu201d $350. Thatu2019s cheap compared to many full-sized, mid-tier handsets, but cheapness is certainly a relative concept. It still seems like a lot for a second phone, and while itu2019s certainly adorable, Iu2019d strongly advise against anyone using it as a primary handset. Heck, itu2019s not even all that great as a standalone MP3 player.
nIf youu2019re still interested, you can pre-order it today u2014 and Palm will throw in a $30 leather case with neck and wrist lanyards. It starts shipping in six to eight weeks.
n","protected":false},"excerpt":{"rendered":"The first time I showed the Palm phone to the TechCrunch staff, they were excited. At the very least, it was a unique take on the category, designed to be a second phone for those moments that didnu2019t require a larger, bulkier device. But reality set in pretty quickly. The deviceu2019s capabilities were severely limited […] n","protected":false},"author":699688,"featured_media":1732288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Palmu2019s tiny phone is available unlocked at $350 https://tcrn.ch/2IQznKt by @bheater"},"categories":[449223024,449557028],"tags":[1515,38616],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2018/10/CMB_50021.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/2IQznKt","rapidData":{"pt":"","pct":""},"featured":false,"subtitle":"","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":false,"premiumCutoffPercent":1,"tc_cb_mapping":[{"slug":"palm","cb_name":"Palm","cb_slug":"palm-organization","cb_link":"https://crunchbase.com/organization/palm"}],"associatedEvent":null,"event":null,"authors":[699688],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1845252"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":4,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1845252/revisions"}],"predecessor-version":[{"id":1845265,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1845252/revisions/1845265"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/699688"}],"replies":[{"embeddable":true,"count":1,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1845252&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1845252&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/699688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1732288"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1845252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1845252"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1845252"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1845252"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1845252"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1845252"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":699688,"name":"Brian Heater","url":"","description":"","link":"https://techcrunch.com/author/brian-heater/","slug":"brian-heater","avatar_urls":{"24":"https://secure.gravatar.com/avatar/eb77d830ad404e16ee7a4c7000b5f49d?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/eb77d830ad404e16ee7a4c7000b5f49d?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/eb77d830ad404e16ee7a4c7000b5f49d?s=96&d=identicon&r=g"},"links":{"twitter":"https://twitter.com/bheater","linkedin":"http://www.linkedin.com/pub/brian-heater/1/a92/94","crunchbase":"https://www.crunchbase.com/person/brian-heater"},"position":"Hardware Editor","cbDescription":"
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","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/v1461345979/xynitsmpgmmobpekzxkg.jpg","twitter":"bheater","_links":{"self":[{"href":"https://techcrunch.com/wp-json/tc/v1/users/699688"}],"collection":[{"href":"https://techcrunch.com/wp-json/tc/v1/users"}]}}],"replies":[[{"id":666088,"parent":0,"author":0,"author_name":"Britney Daggers","author_url":"","date":"2019-06-18T06:46:37","content":{"rendered":"So explain this to a dummy…
nHow can you use it as a second phone when the carriers won’t sell you two valid/live SIM cards that both point to the same phone number?
nThanks
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to negotiate term sheets with strategic investors"},"content":{"rendered":"n nThree years ago, I met with a founder who had raised a massive seed round at a valuation that was at least five times the market rate. I asked what firm made the investment.
nShe said it was not a traditional venture firm, but rather au00a0strategic investor that not only had no ties to her space but also had no prior investment experience. The strategic investor, she said, was looking to u201cget their hands dirtyu201d and u201cget in on the ground floor.u201d
nOver the next 2 years, I kept a close eye on the founder. Although she had enough capital to pivot her business focus multiple times, she seemed to be at odds, serving the needs of her strategic investor and her customer base.
nUltimately, when the business needed more capital to survive, the strategic investor didnu2019t agree with the founderu2019s focus, opted not to prop it up, and the business had to shut down.
nSadly, this is not an uncommon story as examples abound of strategic investors influencing startup direction and management decisions to the point of harm for the startup. Corporate strategics, not to be confused with dedicated funds focused on financial returns like a traditional venture investor like Google Ventures,u00a0often care less about return on investment, and more about a startupu2019s focus, and sector specificity. If corporate imperatives change, the strategicu00a0may cease to be the right partneru00a0or could push the startup inu00a0a challenging direction.
nAnd yet, fortunately, as the disruptive power of technology is being unleashed on nearly every major industry, strategic investors are now getting smarter, both in terms of howu00a0they investu00a0and how they partner with entrepreneurs.
nFrom making strong acquisitive plays (i.e.u00a0GMu2019s purchase of Cruise Automationu00a0oru00a0Toyotau2019s early-stage investment in Uber) to buildingu00a0dedicated funds, to executing commercial agreements in tandem with capital investment, strategics are getting savvier, and by extension, becoming better partners.u00a0 In some instances, they may be the best partner.
nNegotiating a term sheet with a strategic investor necessitates a different set of considerations. Namely: the preference for a strategic to facilitate commercial milestones for the startup, a cautious approach to avoid the u201cover-valuationu201d trap, an acute focus on information rights, and the limitation of non-compete provisions.
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J.P. Morgan working on a secretive digital banking project based out of London"},"content":{"rendered":"A number of incumbent banks are known to be developing new digital-first products in a bid to keep the new wave of challenger banks at bay and now it appears that the latest to make that move is J.P. Morgan.
nAccording to sources, the investment bank has begun recruiting for a secretive skunkworks project within London’s booming fintech industry. Very few details are known about what exactly J.P. Morgan plans to build, although TechCrunch understands the bank is busy hiring high level developers with full-stack and cloud-based dev skills for the new project, along with other personnel.
nOne source tells me that interested candidates are being asked to sign an NDA, and that the project is still in its formative stages. They say the plan is to essentially build a startup within a corporation that will be run independently and entirely separately from J.P. Morgan’s existing technology and businesses. The bank is only hiring for permanent positions rather than contractors in order to keep it “secret,” another source tells me. J.P. Morgan declined to comment.
nMeanwhile, for the few people I’ve spoken to who have heard about the project there’s speculation that J.P. Morgan is developing a competitor to “Marcus,” the digital bank launched by Goldman Sachs that focuses on savings and offers a competitive interest rate. That would also put it up against challenger banks such as Atom, Tandem and savings marketplace Raisin.
nHowever, one source tells me they’ve heard that J.P. Morgan’s skunkworks project could in fact be a much more ambitious cloud-based banking platform on which numerous products can be launched. That would be more akin to a core banking SaaS platform or “AWS for Banking,” along the lines of Starling’s core banking product or Germany’s solarisBank or London’s 11:FS Foundry.
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Steve O'Hear is best known as a technology journalist, currently at TechCrunch where he focuses on European startups, companies and products.
nnHe first joined TechCrunch in November 2009 as Contributing Editor for TechCrunch Europe, where he worked alongside Editor Mike Butcher to help build TechCrunch's coverage in Europe.
nnIn June 2011, Steve took a break from journalism to co-found the London and Prague-based startup Beepl. In his role as CEO, he helped the company raise its first VC round, along with seeing the Question & Answer site through development, private alpha and a high profile public launch. In November 2012, Beepl was acquired by Brand Embassy.
nnAlong with TechCrunch, Steve has written for numerous publications, including ZDNet (where he wrote the well-respected blog 'The Social Web'), The Guardian, Macworld, TES, Last100 and ReadWriteWeb. He also wrote and directed the critically acclaimed Silicon Valley documentary 'In Search of the Valley', which was released in September 2006.
nnIn 2002, Steve was made a fellow of the National Endowment for Science, Technology and the Arts. He's also one half of ProtoBake Labs, an 'ideas incubator' he co-founded with Pete Harris.
nnDisclaimer: Steve owns a small amount of cryptocurrency, and doesn't generally write about crypto currencies. If and when he does, he will always disclose any potential conflict of interest.
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nnHe first joined TechCrunch in November 2009 as Contributing Editor for TechCrunch Europe, where he worked alongside Editor Mike Butcher to help build TechCrunch's coverage in Europe.
nnIn June 2011, Steve took a break from journalism to co-found the London and Prague-based startup Beepl. In his role as CEO, he helped the company raise its first VC round, along with seeing the Question & Answer site through development, private alpha and a high profile public launch. In November 2012, Beepl was acquired by Brand Embassy.
nnAlong with TechCrunch, Steve has written for numerous publications, including ZDNet (where he wrote the well-respected blog 'The Social Web'), The Guardian, Macworld, TES, Last100 and ReadWriteWeb. He also wrote and directed the critically acclaimed Silicon Valley documentary 'In Search of the Valley', which was released in September 2006.
nnIn 2002, Steve was made a fellow of the National Endowment for Science, Technology and the Arts. He's also one half of ProtoBake Labs, an 'ideas incubator' he co-founded with Pete Harris.
nnDisclaimer: Steve owns a small amount of cryptocurrency, and doesn't generally write about crypto currencies. If and when he does, he will always disclose any potential conflict of interest.
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is the latest telecom to offer a tracking device that uses LTE"},"content":{"rendered":"Following in the footsteps of AT&T and Verizon*, Sprint is now offering an LTE tracker. The matchbook-sized device, simply called Tracker, provides real-time location tracking on Safe + Found app.
nn
The Tracker competes with Tile, but instead of Bluetooth, Sprintu2019s device uses 4G LTE, GPS and Wi-Fi location services, so it can be used to track things, people or pets that might travel a significant distance away, compared to a range of 100 ft to 300 ft for Tile (depending on the version). The Tracker is manufactured by Coolpad and users need to pay $2.50 per month for 24 months to cover the cost of the device, plus an additional $5 per month to connect it.
nAT&T and Verizon both launched LTE trackers over the past year and Apple is also rumored to be working on a tracking device that connects to iPhones, based on an asset package for pairing devices by proximity spotted in the first beta of iOS 13 by 9to5Mac.
n*Disclosure: TechCrunch is part of Verizon Media, a subsidiary of Verizon Communications.
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Most know that it will be a long, hard slog if they are to succeed. There will be lean years where the money is tight, and where they may personally struggle to pay their bills. They do it because they believe in the mission and they want to build a successful company, where, if all goes well, they could end up with a healthy amount of money.
nBut it takes a lot of hard work, long hours, tough times and a bit of luck to find your way through to a successful outcome, however you choose to define that. Early on every dollar you give yourself is money that’s not going into the business, and while you don’t want to starve yourself, neither do you want to run out of money, and those early dollars are especially valuable.
nWhile the ultimate goal is a successful exit, not everyone gets there, and it begs the question, how much is fair to take out in the form of salary, especially in the early years when money is tight, and at what point is it reasonable to sell a bit of equity to take some money out of the business and live a more comfortable life. There are no hard and fast answers.
nRemoving financial obstacles
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nnDisclosures:
nnRon is currently corporate blogger for Intronis where he writes once weekly on IT issues. He has contributed to various corporate blogs in the past including Ness, Novell and the IBM Mid-market Blogger Program.
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won the H-1B lottery: Donu2019t lose your ticket when changing jobs"},"content":{"rendered":"n nGetting an H-1B skilled-worker visa is like winning the lottery u2014 literally: With the number of new visas issued each year capped at 85,000, most of this year’s over 200,000 applicants face disappointment. But if youu2019re already working in the United States, then youu2019ve already won the H-1B lottery, and that makes you a hot commodity.
nWith H-1Bs in short supply, successful companies frequently poach skilled workers. Everyone knows the tech sector thrives on this free exchange of people and ideas, so if another employer needs your skills, why not start working for them?
nWell, not so fast. H-1B holders can work only for the company that originally sponsored their visa application. So if you want to change employers, youu2019ll need to u201ctransferu201d your H-1B.
nThat process used to be relatively straightforward but not in the Trump era. (Boundless recently underwent this process with an employee, so we understand the pain.) The denial rate for initial H-1B applications spiked over five-fold to 32 percent just in the first quarter of fiscal 2019, up from 6 percent in 2015. Crucially, the Trump administration is targeting u201ccontinuingu201d H-1B applications used by existing employees to either renew their H-1B or switch it to a new employer. Even tech giants like Amazon are now seeing double-digit rejection rates.
n nThe bottom line: The days of getting an H-1B transfer quickly rubber-stamped are long gone, and that makes it vital to do whatever you can to keep the odds in your favor. The stakes are high u2014 if things go south, you could lose your right to live and work in the United States. Hereu2019s what H-1B holders need to know about the right u2014 and wrong u2014 ways to set about switching employers:
nDonu2019t take your transfer for granted.
nFirst, understand that an H-1B u201ctransferu201d is actually a brand new visa application, not a simple handover of your existing H-1B visa from one employer to another u2014 thereu2019s no such thing.
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Getting an H-1B skilled-worker visa is like winning the lottery u2014 literally: With the number of new visas issued each year capped at 85,000, most of this year’s over 200,000 applicants face disappointment. But if youu2019re already working in the United States, then youu2019ve already won the H-1B lottery, and that makes you a hot commodity.
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top VCs look for in women’s fertility startups"},"content":{"rendered":"A number of promising women’s health tech companies have popped up in the last few years, from fertility apps to ovulation bracelets — even Apple has jumped into the subject with the addition of period tracking built into the latest edition of the watch. But there hasn’t been much in the way of innovation in women’s sexual health for decades.
nIn-vitro fertilization (IVF) is now a 40-year-old invention and even the top pharmaceutical companies have spent a pittance on research and development. Subjects like polycystic ovarian syndrome, endometriosis and menopause have taken a backseat to other, more fatal concerns. Fertility is itself oftentimes a mysterious black box as well, though a full 10% of the female population in the United States has difficulty getting or staying pregnant.
nThat’s all starting to change as startups are now bringing in millions in venture capital to gather and treat women’s health. While it’s early days (no unicorns just yet) interest in the subject has been jumping steadily higher each year.
nTo shine a better light on the importance of tech’s role in spurring more innovation for women’s fertility, we asked five VCs passionate about the space for their investment strategies, including Sarah Cone (Social Impact Capital), Vanessa Larco (NEA), Anu Duggal (Female Founders Fund), Jess Lee (Sequoia) and Nancy Brown (Oak HC/FT).
nSarah Cone, Social Impact Capital
nn
Weu2019re interested in companies that create large data sets in womenu2019s health and fertility, enabling personalized medicine, clinical trial virtualization, better patient outcomes, and the application of modern AI/ML techniques to generate hypotheses that discover new targets and molecules.
n","protected":false},"excerpt":{"rendered":"
A number of promising women’s health tech companies have popped up in the last few years, from fertility apps to ovulation bracelets — even Apple has jumped into the subject with the addition of period tracking built into the latest edition of the watch. But there hasn’t been much in the way of innovation in […] n","protected":false},"author":4917400,"featured_media":1836935,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"What top VCs look for in women’s fertility startups https://tcrn.ch/2I6Znlp"},"categories":[449557102,1772,576596927,337,446313605,20429,17396],"tags":[449547332,291,12374,10406,406669,35350,304713875,449553379,1460,91372,576599593,7383,326792,576608420,479814,449557049,202,449551602],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2019/06/GettyImages-623680490.jpg","jetpack_publicize_connections":[{"service_name":"twitter","display_name":"@TCrunchTest","id":"21594151"},{"service_name":"twitter","display_name":"@TechCrunch","id":"21594318"}],"shortlink":"https://tcrn.ch/2I6Znlp","rapidData":{"pt":"","pct":""},"featured":true,"subtitle":"Investors are starting to pour millions into women's health tech. Does your startup have what it takes to get their attention?","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":true,"premiumCutoffPercent":0.23,"tc_cb_mapping":[{"slug":"female-founders-fund","cb_name":"Female Founders Fund","cb_slug":"female-founders-fund-organization","cb_link":"https://crunchbase.com/organization/female-founders-fund"},{"slug":"apple","cb_name":"Apple","cb_slug":"apple-organization","cb_link":"https://crunchbase.com/organization/apple"},{"slug":"abbvie","cb_name":"AbbVie","cb_slug":"abbvie-organization","cb_link":"https://crunchbase.com/organization/abbvie"}],"associatedEvent":null,"event":null,"authors":[4917400],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":18,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879/revisions"}],"predecessor-version":[{"id":1840886,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879/revisions/1840886"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/4917400"}],"replies":[{"embeddable":true,"count":0,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1836879&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":""}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/4917400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1836935"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1836879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1836879"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1836879"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1836879"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1836879"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1836879"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":4917400,"name":"Sarah Buhr","url":"","description":"","link":"https://techcrunch.com/author/sarah-buhr/","slug":"sarah-buhr","avatar_urls":{"24":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=96&d=identicon&r=g"},"links":{"homepage":"http://www.about.me/sarahbuhr","facebook":"http://www.facebook.com/sarahbuhr","twitter":"http://twitter.com/sarahbuhr","linkedin":"http://www.linkedin.com/in/sarahjanebuhr","crunchbase":"https://www.crunchbase.com/person/sarah-buhr"},"position":"Reporter","cbDescription":"
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101: Do VC associates matter?"},"content":{"rendered":"Building a company is fueled by highs and lows, but one of the few moments of potential ecstasy (or perhaps for grizzled veterans, deep annoyance) is the VC outreach email. You are building your startup on deforming IKEA desks eating frozen dinners when out of nowhere, a major VC firm reaches out and wants to discuss a potential investment.
nBut then you look up your interlocutor online and find that they have that completely enigmatic title of u201cAssociate.u201d Heck, that email may well have been from me over the years.
nWhat do you do? Do you connect with someone who may well be working at a prominent firm and try to engage? Do you flat out ignore it? Do you equivocate and delay?
nIn short, do VC associates matter to your fundraise?
nFirst, what exactly are associates and what do they do?
nThe best way to understand the work of a venture firm is to look at their actual activities rather than the titles or listed duties of any individual person. On the investment side, there are three main activities: analytics, networking / deal sourcing, and closing.
n","protected":false},"excerpt":{"rendered":"
Building a company is fueled by highs and lows, but one of the few moments of potential ecstasy (or perhaps for grizzled veterans, deep annoyance) is the VC outreach email. You are building your startup on deforming IKEA desks eating frozen dinners when out of nowhere, a major VC firm reaches out and wants to […] n","protected":false},"author":15408904,"featured_media":1841458,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":""},"categories":[576602978,20429,35394854],"tags":[576673265,20334,576673264],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2019/06/GettyImages-88622588.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/2MK9SzJ","rapidData":{"pt":"","pct":""},"featured":false,"subtitle":"","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":true,"premiumCutoffPercent":0.12,"tc_cb_mapping":[],"associatedEvent":null,"event":null,"authors":[1719192],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":4,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449/revisions"}],"predecessor-version":[{"id":1841462,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449/revisions/1841462"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/guest-authors/danny-crichton-2"}],"replies":[{"embeddable":true,"count":2,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1841449&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1841449&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/15408904"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1841458"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1841449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1841449"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1841449"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1841449"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1841449"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1841449"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":1719192,"name":"Danny Crichton","link":"https://techcrunch.com/author/danny-crichton-2/","description":"Danny Crichton is an investor at CRV and a former contributing writer at TechCrunch. ","slug":"danny-crichton-2","links":{"homepage":"https://www.dannycrichton.com","facebook":"http://www.facebook.com/dancric","twitter":"http://twitter.com/dannycrichton","linkedin":"http://www.linkedin.com/in/dannycrichton","crunchbase":"https://www.crunchbase.com/person/danny-crichton"},"position":"Contributor","cbDescription":"
Danny is Executive Editor of TechCrunch Extra Crunch, where he covers technology and power. Previously, he was a foreign correspondent at TechCrunch based in Seoul, South Korea as well as a venture capitalist with General Catalyst in Palo Alto and Charles River Ventures in Boston and New York. He was awarded a Fulbright research scholarship to South Korea, where he researched the development of Koreau2019s startup ecosystem. He is a PhD dropout from Harvard where he studied public policy and an honors graduate of Stanford, where he studied mathematical and computational sciences. Danny is based in Brooklyn.
nnHis ethics statement is located at https://www.dannycrichton.com/ethics/
","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/kx43q415v57n7kc56gvq","twitter":"dannycrichton"}],"replies":[[{"id":665833,"parent":0,"author":0,"author_name":"Marius Chawa","author_url":"","date":"2019-06-14T01:07:47","content":{"rendered":"totally agree. relationships are everything
n"},"link":"https://techcrunch.com/2019/06/12/fundraising-101-do-vc-associates-matter/#comment-665833","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"KPUAFPUPYWGEZ5SJBGTYKJIFXY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/665833"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}]}},{"id":665838,"parent":0,"author":0,"author_name":"Derek Bittar","author_url":"","date":"2019-06-14T02:59:38","content":{"rendered":"Entrepreneurs need to understand that VCs mean no offenses in having associates in the frontlines. Associates make a GPs work scalable. They are the extension of the GPs work – usually very synergetic. So, beware not to underestimate an associateu2019s influence on an investment decision. Being arrogant may spoil your opportunity, no matter the size of the fund on the other side of the table.
n"},"link":"https://techcrunch.com/2019/06/12/fundraising-101-do-vc-associates-matter/#comment-665838","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"COGLA7RR6E5WFXRGQ4WPPHPOXY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/665838"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}]}}]],"author":[{"id":15408904,"name":"Danny Crichton","url":"","description":"","link":"https://techcrunch.com/author/danny-crichton/","slug":"danny-crichton","avatar_urls":{"24":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=96&d=identicon&r=g"},"links":{"homepage":"https://www.dannycrichton.com","facebook":"http://www.facebook.com/dancric","twitter":"https://twitter.com/dannycrichton","linkedin":"http://www.linkedin.com/in/dannycrichton","crunchbase":"https://www.crunchbase.com/person/danny-crichton"},"position":"Editorial Manager","cbDescription":"Danny is Executive Editor of TechCrunch Extra Crunch, where he covers technology and power. Previously, he was a foreign correspondent at TechCrunch based in Seoul, South Korea as well as a venture capitalist with General Catalyst in Palo Alto and Charles River Ventures in Boston and New York. He was awarded a Fulbright research scholarship to South Korea, where he researched the development of Koreau2019s startup ecosystem. He is a PhD dropout from Harvard where he studied public policy and an honors graduate of Stanford, where he studied mathematical and computational sciences. Danny is based in Brooklyn.
nnHis ethics statement is located at https://www.dannycrichton.com/ethics/
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future of car ownership: Building an online dealership"},"content":{"rendered":"Buying a car is painful. Dealerships are the worst, and the options are endless. The rise of the Internet produced powerful tools for shoppers, but in the end, most buyers still have to trudge down to a car lot.
nFor this series of articles, TechCrunch spoke with several founders and investors attempting to rethink car buying. It’s clear these startups are the underdog in this fight. Most consumers buy cars the same way as their grandparents did and for good reason. Dealerships nationwide fought for years to enact laws and regulations that protect their businesses.
nSeveral young companies are attempting to put the dealership online. Companies like Carvana, Shift, Vroom and Joydrive are putting the entire car buying process online, allowing customers to buy, trade-in and even test drive vehicles without talking to a salesman in an oversized golf pullover.
nIn the next part of this series, weu2019ll look at companies like Fair that are moving consumers away from purchasing and into short-term leases. Even automakers are trying something new. Tesla sells directly to consumers while Volvo, BMW, Mercedes and others are launching subscription options to give owners even more flexibility.
nThe three new dealerships
n nSeveral companies are building online car dealerships. Shoppers find and buy a vehicle solely through these sites, and often, the cars are delivered to the buyer. These online dealerships even take trade-ins.
nThree services dominate this space, and they were all founded in 2013. Carvana, Shift, and Vroom hit the market at the same time but have experienced different paths. One thing is clear though: it takes hundreds of millions of venture capital money to build an online dealership.
nEmily Melton, co-founder and managing partner, Threshold Ventures (formally known as DFJ Ventures), points to consumeru2019s changing expectations and an optimized process across all kinds of vehicles. She co-led Shiftu2019s Series A in 2014.
n","protected":false},"excerpt":{"rendered":"
Buying a car is painful. Dealerships are the worst, and the options are endless. The rise of the Internet produced powerful tools for shoppers, but in the end, most buyers still have to trudge down to a car lot. For this series of articles, TechCrunch spoke with several founders and investors attempting to rethink car […] 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It’s a big deal because providing water to the ISS involved a multi-day refueling process, done in microgravity, using processes and equipment Orbit Fab developed itself.
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