Yearly Archives: 2020

News: Union Square Ventures and Learn Capital file paperwork indicating new funds

As 2020 comes to a long-awaited end, a series of filings indicate that venture capitalists are ending the year with fresh money. According to SEC paperwork, Learn Capital and USV have filed paperwork that shows the firms have raised new, multimillion-dollar funds. If you’ve been paying attention to news this past year, it’s clear that

As 2020 comes to a long-awaited end, a series of filings indicate that venture capitalists are ending the year with fresh money. According to SEC paperwork, Learn Capital and USV have filed paperwork that shows the firms have raised new, multimillion-dollar funds.

If you’ve been paying attention to news this past year, it’s clear that much of venture capital isn’t just surviving 2020 – it’s flourishing through it. Zoom investing, it seems, is working just fine for cash-rich firms looking to double down on bets in categories from edtech to climate.

First up, New York-based USV submitted a pair of filings on late Thursday. The first filing shows that the firm has closed $151 million for USV Climate 2021, which one can assume is focused on climate-tech investments. As my colleague Jonathan Shieber has pointed out, climate tech.

The other, more nebulous filing, is the firm’s $22.4 million investment vehicle titled USV Bundled. It’s unclear what this is focused on, but a recent blog post suggests that the firm will continue to double down on its education investments.

Speaking of edtech, Learn Capital, an education-focused venture capital fund, filed paperwork indicating that it has closed $132 million in capital. It plans to raise a total of $250 million for this fund, which will be the firm’s fourth investment vehicle to date. The edtech category has obviously been booming with interest, which also fueled Owl Ventures to close $585 million in new capital in September.

Finally, I’ll give an honorable mention to Lattice CEO Jack Altman’s New Years Eve filing, which shows that the executive plans to raise $20 million for a new fund. It’s unclear if this filing indicates Apollo’s next step, a venture fund started by the Altman brothers. The trio, beyond Jack, includes Max and Sam, the former president of Y Combinator who currently serves as the CEO of OpenAI.

I reached out for comment to all three entities, but (unsurprisingly) haven’t heard back. It’s New Year’s Eve after all. So for now, back to the Champagne. See you all in the New Year.

News: Bose’s latest sleep-centric earbuds mostly do the trick

It’s been a strange year for sleep. For me, levels have fluctuated between too little and too much, but have – more often than not – tended toward the former. 2020 gave most of us no shortage of excuses for sleep deprivation, from personal stresses to larger societal concerns. And, thankfully, the past few years

It’s been a strange year for sleep. For me, levels have fluctuated between too little and too much, but have – more often than not – tended toward the former. 2020 gave most of us no shortage of excuses for sleep deprivation, from personal stresses to larger societal concerns.

And, thankfully, the past few years have seen no shortage of technological solutions to the problem of sleeplessness. Of course, the underpinning issues can be hard to isolate and even harder to treat. There’s no silver bullet. That’s the lesson I keep relearning at this job – no single piece of technology is going to cure all of my ills. (I’m sure it’s nothing that years of extensive and expensive therapy can’t fix.)

Sleep headphones are, in and of themselves, not an entirely new phenomenon. Bose got into the space in earnest back in mid-2018, offering one of the more polished (and pricey) approaches to the category. The company went in an entirely different direction than, say, Kokoon, which offers an over-ear solution.

The Sleepbuds are – as the name suggests – fully wireless earbuds. This second generation allows Bose to address some of the bigger issues with the original – include some major battery complaints. That was a pretty big strike against a $250 pair of headphones with, quite literally, one job.

The battery and connections complaints, I can state, off the bat, seem to have been addressed. The units I’ve been wearing to sleep off and on for a few weeks now haven’t had any major connection issues to speak of (assuming you keep your phone near your bed and all that entails), and the battery generally gets me through a full night bit a bit under 20% remaining. After you wake up, you toss them in the case and let them charge for the next several hours.

Image Credits: Bose

All told, the build is solid, as you’d expect/hope from the company name and accompanying price point. I really dig the design of these things, overall, from the illuminating metal charging case with its sliding lid to the earbuds themselves. As someone who finds the slightest irritants a major hurdle to falling asleep, I was pleasantly surprised by how unobtrusive the buds are. They slip on comfortably and stay flush with the ear, so nothing gets snagged. The soft and rubbery wings also do a great job keeping them in place.

The buds biggest limitation is actually by design. Like the originals, the Sleepbuds II only work with the included app. This is used to pair them, locate them and offers Bose’s library of music. The company generally does a good job curating its own sleep sounds, ranging from nature sounds like rain and wind to self-selected ambient tracks. I got in the habit of listening to the sounds of the ocean while reading Moby Dick each night. A pretty good way to fall asleep, all told.

I appreciate the decision to hamper the functionality to some degree – I suspect I would probably start listening to podcasts and TV shows on the thing, left to my own devices (so to speak). But I would love to see what the buds could do with, say, binaural beats or some other ambient selections. Ultimately, I think giving the consumer choice is ultimately a net positive.

That said, the headphones are well-tuned for their limited (but expanding) library of sounds. There’s no active noise canceling, but the passive cancelation of the buds themselves plus the on-board sound do a good job blocking out things like environmental noise or snoring. They’re probably no match for, say, construction noise, but do a good job with subtler barriers to sleep. They’ll also likely be a good choice for long flights, when we start doing those again.

There are a handful of headphones currently positioned for the sleep market, but Bose’s look to be the most polished package at the moment. The price will understandably be a barrier for many – and the limited sound library could be a dealbreaker for some. But if you have the money – and find getting and staying asleep tough – they’re well worth exploring.

News: BadVR is using government grants to build a business that’s independent of venture capital

When the Los Angeles-based extended reality data visualization company, BadVR, first heard that one of its earliest benefactors, Magic Leap, was about to shed 1,000 jobs and was fighting for its life, the young startup was unfazed. Despite the very public ties that BadVR had to Magic Leap, as one of the enterprise applications on

When the Los Angeles-based extended reality data visualization company, BadVR, first heard that one of its earliest benefactors, Magic Leap, was about to shed 1,000 jobs and was fighting for its life, the young startup was unfazed.

Despite the very public ties that BadVR had to Magic Leap, as one of the enterprise applications on the platform, the startup was more insulated than other businesses from the pivot away from consumer-focused apps.

The first step was finding money from the government’s Paycheck Protection Program to get more capital coming in and maintaining its headcount. Eventually, the company managed to land additional financing in the form of a $1 million grant from the National Science Foundation.

It’s the second grant that the company has taken from the NSF and is an example of how startups can turn to government funding for capital and avoid some of the pitfalls of fundraising from venture capital.

To be sure, even Magic Leap’s trip to the brink of collapse wouldn’t have been that bad for BadVR, which makes enterprise applications for extended reality devices.

What the Magic Leap story shows is that companies don’t need to take venture capital to make it. Indeed, as costs come down for equipment and remote work democratizes access to a country that’s still teeming with engineering talent, thrifty startups can get the capital they need from government sources and corporate innovation grants.

That’s how BadVR got most of its $3.5 million in financing. Some money came from a grant from BadVR, while at least $1.25 million has come from the government in the form of two National Science Foundation cooperative agreements through the Small Business Innovation Research financing mechanisms.

A headset capture of BadVR’s climate change application, built for the Magic Leap One headset. Image Credit: BadVR

BadVR uses virtual and augmented reality tools to visualize geospatial data for a range of government and commercial applications. The startup’s tech is already being used by big telecom companies to accelerate the planning and deployment of 5G networks. And, within the public safety sector, the company’s tech is used to improve situational awareness for first responders and to reduce training, staffing, and operational costs.

“Society has become aware of the power of data and the impact it has on our daily lives.  It’s critically important that we make the access of data easy to every organization, regardless of technical skill level or background,” said Suzanne Borders, the chief executive and founder of BadVR, in a statement. 

For Borders, the key to tapping government funding is all about proper advance planning. “Those take a long time,” Borders said. “When you get awarded them, you’re looking at a year’s worth of effort. [Our grant] was a testament to us planning for that about a year ago.”

These grants are typically milestone-based, so as long as BadVR was hitting its targets, it could be fairly assured that the money would be there.

“NSF is proud to support the technology of the future by thinking beyond incremental  developments and funding the most creative, impactful ideas across all markets and  areas of science and engineering,” said Andrea Belz, Division Director of the Division of  Industrial Innovation and Partnerships at NSF. “With the support of our research funds,  any deep technology startup or small business can guide basic science into meaningful  solutions that address tremendous needs.”  

Other government competitions are providing the company with additional non-dilutive cash and a chance to kcik the tires on new capabilities.

A capture from BadVR’s augmented reality geospatial data environment, which allows users to visualize multiple live and historical datasets via overlays relevant to their environment. Image Credit: BadVR

That has translated into traction for the company’s Augmented Reality Operations Center. The AROC is a new offering for the product that visualizes data for first responders. Through a challenge hosted by the National Institute of Standards and Technology, BadVR was able to work with the Eureka, Mo. Fire Department to develop a prototype for a specific emergency situation.

It’s an evolution of an early product the company had developed where enterprises can create digital twins of their factories or stores in virtual reality and do a walk-through to examine different conditions.

The visualization work that BadVR does isn’t necessarily all geo-spatial. The company can take all kinds of data and integrate that into an environment that makes the data easier to see. Borders sees the company’s services extending into creating all kinds of collaborative environments for companies.

“The system highlights things that are important to look at,” Borders said. “It’s virtualizing the data visualization experience and bringing it into an immersive environment — and building a more collaborative aspect to that experience.”

Since the COVID-19 pandemic has forced businesses across the country to operate virtually, Borders said the demand for the kinds of. products her company is building — with the government’s help — has only increased.

“That’s been due to increased demand for remote collaboration tools,” Borders said. “We’ve had increased interest in people across the board — but tools that have remote collaboration capabilities — and bring people together to one immersive data experience… those are taking off.”

News: Goodbye Flash, goodbye FarmVille

While much of what made 2020 such an absolute nightmare will still be with us on January 1 (sorry!), we will really, truly be leaving Adobe Flash and FarmVille behind as we enter the new year. The end of Flash has been a long time coming. The plugin, which was first released in 1996 and

While much of what made 2020 such an absolute nightmare will still be with us on January 1 (sorry!), we will really, truly be leaving Adobe Flash and FarmVille behind as we enter the new year.

The end of Flash has been a long time coming. The plugin, which was first released in 1996 and once supported a broad swath online content, has become increasingly irrelevant in a smartphone-centric world: iPhones never supported Flash, and it’s been just over 10 years since Apple’s then-CEO Steve Jobs published an open letter outlining the technology’s shortcomings.

Adobe has been planning for the end, announcing in 2017 that it would phase out Flash by the end of this year. Most web browsers have already stopped supporting Flash, and today is the official end date, with Adobe ending support itself — although there’s still one last “death of Flash” milestone on January 12, when the company will begin to block Flash content from playing.

In related news, Zynga announced recently that the end of Flash would also mean the end of FarmVille, since the game relies on the Flash plugin.

I am so grateful for the amazing @zynga team behind #FarmVille, and the hundreds of millions of FarmVille players over the years. 16/x

— mark pincus (@markpinc) December 31, 2020

Like Flash, FarmVille feels like a remnant of a bygone internet era (a fact that makes me feel incredibly old, since I wrote plenty of words about both of them at the beginning of my career). Launched in 2009, FarmVille’s popularity paved the way for the ascendance of Zynga and of Facebook gaming, but both Zynga and gaming have largely moved on.

The company’s co-founder and former CEO Mark Pincus commemorated the occasion with a series of tweets outlining the game’s early development (spurred by the acquisition of startup MyMiniLife).

“FarmVille demonstrated that a game could be a living, always-on service that could deliver daily surprise and delight, similar to a favorite TV series,” Pincus wrote. “Games could also connect groups of people and bring them closer together.”

And just in case there are any FarmVille fans reading this story, don’t worry: you can still play FarmVille 2: Tropic Escape, FarmVille 2: Country Escape right now, and FarmVille 3 is still coming to mobile. Today is just the final day for the original game.

News: NYC MTA’s contactless fare system completes rollout, will phase out MetroCard in 2023

On the last day of 2020, New York City’s Metro Transit Authority announced that it has finished its roll out of contactless payment systems. With the addition of a final stop in Brooklyn, every MTA subway station and bus in the five boroughs now sports the OMNY “Tap and Go” system. We got an early

On the last day of 2020, New York City’s Metro Transit Authority announced that it has finished its roll out of contactless payment systems. With the addition of a final stop in Brooklyn, every MTA subway station and bus in the five boroughs now sports the OMNY “Tap and Go” system.

We got an early demo of the Grand Central terminals when the project rollout began last May. The system involves a major infrastructure overhaul as the transit authority looks beyond the iconic Metro Card to mobile payment systems from vendors like Apple, Google, Samsung and Fitbit – allowing users to use smartphones and smartwatches to swipe their way through the turn style.

The MTA had expected to finish the project by October – though COVID-19 put the kibosh on those plans along with so much else. The goal was pushed back to December, and it appears it’s been met with no time to spare.

Join us for a major announcement about the rollout of OMNY, our state-of-the-art payment system that will replace MetroCard completely in 2023.

https://t.co/ZMnSlDEaml

— MTA. Wear a Mask. Stop the Spread. (@MTA) December 31, 2020

MetroCards are sticking around for the time being – though the MTA expects they will be phased out at some point in 2023. Part of the transition involves the arrival of the OMNY Card, which use the new technology but function similarly to MetroCard. A reduced far version of the card is set to arrive for riders who qualify at some point in 2021. The new readers are also coming to the Metro-North and Long Island Rail Road systems.

News: Extra Crunch’s Top 10 stories of 2020

I’ve tried to gather a sample of stories that taught me something new (which means this top 10 list betrays my ignorance).

I edited hundreds of stories in 2020, so choosing my favorites would be an exercise in futility.

Instead, I’ve tried to gather a sample of Extra Crunch stories that taught me something new. (Which means this top 10 list betrays my ignorance, a humbling admission for a know-it-all like myself.)

While narrowing down the field of candidates, I realized that we’re covering each of the topics on this list in greater depth next year. We already have stories in the works about no-code software, the emergence of edtech, proptech and B2B marketplaces, to name just a few.

Some readers are skeptical about paywalls, but without being boastful, Extra Crunch is a premium product, just like Netflix or Disney+. I know: We’re not as entertaining as a historical drama about the reign of Queen Elizabeth II or a space western about a bounty hunter.

But, speaking as someone who’s worked at several startups, Extra Crunch stories contain actionable information you can use to build a company and/or look smart in meetings — and that’s worth something. Thanks for reading, and I hope you have a very happy new year.


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1. The VCs who founders love the most

Image Credits: Bryce Durbin/TechCrunch

Managing Editor Danny Crichton spearheaded the development of The TechCrunch List earlier this year to help seed-stage founders connect with VCs who write first checks.

The TechCrunch List has no paywall and contains details and recommendations about more than 400 investors across 22 verticals. Once it launched, Danny crunched the data to pick out 11 investors for which “founders were particularly effusive in their praise.”

2. API startups are so hot right now

Conceptual photo of a cup with clouds. It seems to say, take a break and dream

Image Credits: Juana Mari Moya(opens in a new window)/Getty Images (Image has been modified)

Alex Wilhelm uses his weekday column The Exchange to keep a close eye on “private companies, public markets and the gray space in between,” but one effort stood out: An overview of six API-based startups that were “raising capital in rapid-fire fashion” when many companies were trying to find their COVID-19 footing.

For me, this was particularly interesting because it helped me better understand that an optimal pricing structure can be key to a SaaS company’s initial success.

3. ‘No code’ will define the next generation of software
4. Tracking the growth of low-code/no-code startups

A green sphere stands on top of a pedestal surrounded by a crowd of multicoloured spheres

Image Credits: Richard Drury(opens in a new window)/Getty Images

Two stories about the advent of no-code/low-code software that we ran in July take the third and fourth position on this list.

I have been a no-code user for some time: Using Zapier to send automated invitations via Slack for group lunches was a real time-saver in the pre-pandemic days.

“Enterprise expenditure on custom software is on track to double from $250 billion in 2015 to $500 billion in 2020,” so we’ll definitely be diving deeper into this topic in the coming months.

5. ‘Edtech is no longer optional’: Investors’ deep dive into the future of the market

Point of view, looking up ladder sticking through hole in ceiling revealing blue sky

Image Credits: PM Images(opens in a new window)/Getty Images

Natasha Mascarenhas picked up TechCrunch’s edtech beat when she joined us just before the pandemic. Twelve months later, she’s an expert on the topic.

In July, she surveyed six edtech investors to “get into the macro-impact of rapid change on edtech as a whole.”

  • Ian Chiu, Owl Ventures
  • Shauntel Garvey and Jennifer Carolan, Reach Capital
  • Jan Lynn-Matern, Emerge Education
  • David Eichler, TCV
  • Jomayra Hererra, Cowboy Ventures

6. B2B marketplaces will be the next billion-dollar e-commerce startups

High angle view of Male warehouse worker pulling a pallet truck at distribution warehouse.

Image Credits: Kmatta(opens in a new window)/Getty Images

In 2018, B2B marketplaces saw an estimated $680 billion in sales, but that figure is expected to reach $3.6 trillion by 2024.

As companies shifted their purchasing online, these platforms are adding a range of complementary services like payment management, targeted advertising and logistics while also hardening their infrastructure.

7. Facebook’s former PR chief explains why no one is paying attention to your startup

Caryn Marooney, right, vice president of technology communications at Facebook, poses for a picture on the red carpet for the 6th annual 2018 Breakthrough Prizes at Moffett Federal Airfield, Hangar One in Mountain View, Calif., on Sunday, Dec. 3, 2017. (N

Caryn Marooney, right, vice president of technology communications at Facebook, poses for a picture on the red carpet for the 6th annual 2018 Breakthrough Prizes at Moffett Federal Airfield, Hangar One in Mountain View, Calif., on Sunday, Dec. 3, 2017. Image Credits: Nhat V. Meyer/Bay Area News Group

Reporter Lucas Matney spoke to Caryn Marooney in August at TechCrunch Early Stage about how startup founders who hope to expand their reach need to do a better job of connecting with journalists.

“People just fundamentally aren’t walking around caring about this new startup,” she said. “Actually, nobody does.”

Speaking as someone who’s been on both sides of this equation, I most appreciated her advice about focusing on “simplicity and staying consistent” when it comes to messaging.

“Don’t let the complexity of your intellect cloud what needs to be simple,” she said.

8. You need a minimum viable company, not a minimum viable product

Team of engineers working on a new mechanical model. Multi-ethnic group of young people building an new technology in office.

Image Credits: alvarez(opens in a new window)/Getty Images

In a guest post for Extra Crunch, seed-stage VC Ann Miura-Ko shared some of what she’s learned about “the magic of product-market fit,” which she termed “the defining quality of an early-stage startup.”

According to Miura-Ko, a co-founding partner at Floodgate, startups can only reach this stage when their business model, value propositions and ecosystem are in balance.

Using lessons learned from her portfolio companies like Lyft, Refinery29 and Twitch, this article should be required reading for every founder. As one commenter posted, “I read this thinking, ‘I need to add some slides to my deck!’

9. 6 investment trends that could emerge from the COVID-19 pandemic

10 January 2020, Berlin: Doctor Olaf Göing, chief physician of the clinic for internal medicine at the Sana Klinikum Lichtenberg, tests mixed-reality 3D glasses for use in cardiology. They can thus access their patients’ medical data and visualize the finest structures for diagnostics and operation planning by hand and speech. The Sana Clinic is, according to its own statements, the first hospital in the world to use this novel technology in cardiology. Image Credits: Jens Kalaene/picture alliance via Getty Images

During “the early innings of this period of uncertainty,” an article we published offered several predictions about investor behavior in the U.S.

Although we posted this in April, each of these forecasts seem spot-on:

  1. Future of work: promoting intimacy and trust.
  2. Healthcare IT: telemedicine and remote patient monitoring.
  3. Robotics and supply chain.
  4. Cybersecurity.
  5. Education = knowledge transfer + social + signaling.
  6. Fintech.

10. Construction tech startups are poised to shake up a $1.3-trillion-dollar industry

Rebar is laid before poring a cement slab for an apartment in San Francisco CA.

Image Credits: Steve Proehl(opens in a new window)/Getty Images

I’ve always found the concept of total addressable market (TAM) hard to embrace fully — the arrival of a single disruptive company could change an industry’s TAM in a week.

However, several factors are combining to transform the construction industry: high fragmentation, poor communication, a skilled labor shortage and a lack of data transparency.

Startups that help builders manage aspects like pre-construction, workflow and site visualization are making huge strides, but because “construction firms spend less than 2% of annual sales volume on IT,” the size of this TAM is not at all speculative.

11. Don’t let VCs be the gatekeepers of your success

One blue ball on one right side of red line, many blue balls on left side

Image Credits: PM Images(opens in a new window)/Getty Images

As a bonus, I’m including a TechCrunch op-ed written by insurtech founder Kevin Henderson that describes the myriad challenges he has faced as a Black entrepreneur in Silicon Valley.

Some of the discussions about the lack of diversity in tech can feel abstract, but his post describes its concrete consequences. For starters: he’s never had an opportunity to pitch at a VC firm where there was another Black person in the room.

“Black founders have a better chance playing pro sports than they do landing venture investments,” says Henderson.

News: After burning through $2 billion, Katerra gets a $200 million SoftBank lifeline to escape bankruptcy

SoftBank Group is reportedly investing $200 million to bail out Katerra, a startup that had hoped to remake the construction industry with a vertically integrated approach, according to a report in The Wall Street Journal. Katerra’s shareholders reportedly approved the new investment on Wednesday, with the new lifeline from SoftBank coming on top of roughly

SoftBank Group is reportedly investing $200 million to bail out Katerra, a startup that had hoped to remake the construction industry with a vertically integrated approach, according to a report in The Wall Street Journal.

Katerra’s shareholders reportedly approved the new investment on Wednesday, with the new lifeline from SoftBank coming on top of roughly $2 billion that the Japanese technology conglomerate had already committed to the venture.

Funds for the bailout, which will save Katerra from bankruptcy, will be coming from SoftBank’s Vision Fund 1, the Journal quoted Katerra chief executive Paal Kibsgaard as telling company shareholders in a message.

As part of the funding, the SoftBank-financed financial services firm, Greensill Capital, is cancelling around $435 million in debt in exchange for a 5% stake in the company, according to the Journal’s reporting.

This new bailout actually marks the second time that SoftBank has stepped in to dole out $200 million to Katerra this year alone.

In May, when Kibsgaard, the former head of oil services developer Schlumberger, was brought in to fix the company’s finances, SoftBank poured $200 million into the company so Kibsgaard could right the ship there, according to the Journal’s reporting.

Katerra has raised multiple hundreds of million dollar rounds from the Japanese technology conglomerate since its launch in 2015. Back in 2018, when the company closed on $865 million in financing, Katerra was claiming bookings for $1.3 billion worth of commercial and residential projects ranging from hospitality to student housing. That’s a large number, but a fraction of the $1 trillion spent on construction in the month of November 2018 alone, according to data from the U.S. Census Bureau.

Katerra has been hit by delays and cost overruns on some projects, while the COVID-19 pandemic delayed others. And irregularities that the company discovered in accounting practices also added to headaches, according to the Journal.

Despite its missteps, Katerra is on track to make serious cash this year, with revenue between $1.5 billion and $2 billion, according to details Kibsgaard gave to the Journal.

News: How artificial intelligence will be used in 2021

“We’re going to start to see a lot of real value and ROI generated by AI across more and more businesses,”

Scale AI CEO Alexandr Wang doesn’t need a crystal ball to see where artificial intelligence will be used in the future. He just looks at his customer list.

The four-year-old startup, which recently hit a valuation of more than $3.5 billion, got its start supplying autonomous vehicle companies with the labeled data needed to train machine learning models to develop and eventually commercialize robotaxis, self-driving trucks and automated bots used in warehouses and on-demand delivery.

The wider adoption of AI across industries has been a bit of a slow burn over the past several years as company founders and executives begin to understand what the technology could do for their businesses.

In 2020, that changed as e-commerce, enterprise automation, government, insurance, real estate and robotics companies turned to Scale’s visual data labeling platform to develop and apply artificial intelligence to their respective businesses. Now, the company is preparing for the customer list to grow and become more varied.

How 2020 shaped up for AI

Scale AI’s customer list has included an array of autonomous vehicle companies including Alphabet, Voyage, nuTonomy, Embark, Nuro and Zoox. While it began to diversify with additions like Airbnb, DoorDash and Pinterest, there were still sectors that had yet to jump on board. That changed in 2020, Wang said.

Scale began to see incredible use cases of AI within the government as well as enterprise automation, according to Wang. Scale AI began working more closely with government agencies this year and added enterprise automation customers like States Title, a residential real estate company.

Wang also saw an increase in uses around conversational AI, in both consumer and enterprise applications as well as growth in e-commerce as companies sought out ways to use AI to provide personalized recommendations for its customers that were on par with Amazon.

Robotics continued to expand as well in 2020, although it spread to use cases beyond robotaxis, autonomous delivery and self-driving trucks, Wang said.

“A lot of the innovations that have happened within the self-driving industry, we’re starting to see trickle out throughout a lot of other robotics problems,” Wang said. “And so it’s been super exciting to see the breadth of AI continue to broaden and serve our ability to support all these use cases.”

The wider adoption of AI across industries has been a bit of a slow burn over the past several years as company founders and executives begin to understand what the technology could do for their businesses, Wang said, adding that advancements in natural language processing of text, improved offerings from cloud companies like AWS, Azure and Google Cloud and greater access to datasets helped sustain this trend.

“We’re finally getting to the point where we can help with computational AI, which has been this thing that’s been pitched for forever,” he said.

That slow burn heated up with the COVID-19 pandemic, said Wang, noting that interest has been particularly strong within government and enterprise automation as these entities looked for ways to operate more efficiently.

“There was this big reckoning,” Wang said of 2020 and the effect that COVID-19 had on traditional business enterprises.

If the future is mostly remote with consumers buying online instead of in-person, companies started to ask, “How do we start building for that?,” according to Wang.

The push for operational efficiency coupled with the capabilities of the technology is only going to accelerate the use of AI for automating processes like mortgage applications or customer loans at banks, Wang said, who noted that outside of the tech world there are industries that still rely on a lot of paper and manual processes.

News: Salesforce has built a deep bench of executive talent via acquisition

When Salesforce acquired Quip in 2016 for $750 million, it gained CEO and co-founder Bret Taylor as part of the deal. Taylor has since risen quickly through the ranks of the software giant to become president and COO, second in command behind CEO Marc Benioff. Taylor’s experience shows that startup founders can sometimes play a

When Salesforce acquired Quip in 2016 for $750 million, it gained CEO and co-founder Bret Taylor as part of the deal. Taylor has since risen quickly through the ranks of the software giant to become president and COO, second in command behind CEO Marc Benioff. Taylor’s experience shows that startup founders can sometimes play a key role in the companies that acquire them.

Benioff, 56, has been running Salesforce since its founding more than 20 years ago. While he hasn’t given any public hints that he intends to leave anytime soon, if he wanted to step back from the day-to-day running of the company or even job share the role, he has a deep bench of executive talent including many experienced CEOs, who like Taylor came to the company via acquisition.

One way to step back from the enormous responsibility of running Salesforce would be by sharing the role.

He and his wife Lynne have been active in charitable giving and in 2016 signed The Giving Pledge, an initiative from the The Bill and Melinda Gates Foundation, to give a majority of their wealth to philanthropy. One could see him wanting to put more time into pursuing these charitable endeavors just as Gates did 20 years ago. As a means of comparison, Gates founded Microsoft in 1975 and stayed for 25 years until he left in 2000 to run his charitable foundation full time.

Even if this remains purely speculative for the moment, there is a group of people behind him with deep industry experience, who could be well-suited to take over should the time ever come.

Resurrecting the co-CEO role

One way to step back from the enormous responsibility of running Salesforce would be by sharing the role. In fact, for more than a year starting in 2018, Benioff actually shared the top job with Keith Block until his departure last year. When they worked together, the arrangement seemed to work out just fine with Block dealing with many larger customers and helping the software giant reach its $20 billion revenue goal.

Before Block became co-CEO, he had a myriad other high-level titles including co-chairman, president and COO — two of which, by the way, Taylor has today. That was a lot of responsibility for one person inside a company the size of Salesforce, but promoting him to co-CEO from COO gave the company a way to reward his hard work and help keep him from jumping ship (he eventually did anyway).

As Holger Mueller, an analyst at Constellation Research points out, the co-CEO concept has worked out well at major enterprise companies that have tried it in the past, and it helped with continuity. “Salesforce, SAP and Oracle all didn’t miss a beat really with the co-CEO departures,” he said.

If Benioff wanted to go back to the shared responsibility model and take some work off his plate, making Taylor (or someone else) co-CEO would be one way to achieve that. Certainly, Brent Leary, lead analyst at CRM Essentials sees Taylor gaining increasing responsibility as time goes along, giving credence to the idea.

“Ever since Quip was acquired Taylor seemed to be on the fast track, becoming president and chief product officer less than a year-and-a-half after the acquisition, and then two years later being promoted to chief operating officer,” Leary said.

Who else could be in line?

While Taylor isn’t the only person who could step into Benioff’s shoes, he looks like he has the best shot at the moment, especially in light of the $27.7 billion Slack deal he helped deliver earlier this month.

“Taylor being publicly praised by Benioff for playing a significant role in the Slack acquisition, Salesforce’s largest acquisition to date, shows how much he has solidified his place at the highest levels of influence and decision-making in the organization,” Leary pointed out.

But Mueller posits that his rapid promotions could also show something might be lacking with internal options, especially around product. “Taylor is a great, smart guy, but his rise shows more the product organization bench depth challenges that Salesforce has,” he said.

News: The Equity crew predicts what’s to come in 2021

What could go wrong? Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines. As you can see, this is our yearly predictions episode. Our behind-the-scenes guru Chris Gates joins us on the mic, we take shots at our prior prognostications, and nosh on what we

What could go wrong?

Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines. As you can see, this is our yearly predictions episode. Our behind-the-scenes guru Chris Gates joins us on the mic, we take shots at our prior prognostications, and nosh on what we feel is positively persaged.

As always, this episode is in good fun. If you don’t agree with we think is up ahead, that’s fine. You’re probably right. But we’re nothing if not up for a challenge, so we kept the tradition alive this year.

This is the last Equity episode of 2020. While we can’t tell you yet what our plans are for 2021, we can say — nay, project — that there are a lot of fun and big things coming for Equity. We’re planning our busiest year ever, by far.

And with that, we’re out of here. Thanks for several million downloads this year, our biggest annum to date.

Equity drops every Monday at 7:00 a.m. PST and Thursday afternoon as fast as we can get it out, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

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