Monthly Archives: November 2020

News: Report: US visas granted to students from mainland China have plummeted 99% since April

It’s no secret that the Trump administration has pursued a variety of avenues to keep foreigners out of the U.S., including through a recent overhaul of the H-1B visa program for high-skilled foreign workers that will require employers to pay H-1B workers higher wages and narrow the types of degrees that would qualify an applicant

It’s no secret that the Trump administration has pursued a variety of avenues to keep foreigners out of the U.S., including through a recent overhaul of the H-1B visa program for high-skilled foreign workers that will require employers to pay H-1B workers higher wages and narrow the types of degrees that would qualify an applicant — a move which has ready triggered numerous lawsuits.

Still, it may surprise some to learn that U.S. visas issued to students around the world have fallen as dramatically as they have this year. According to a new report in Nikkei Asia, citing U.S. State Department data, just 808 F-1 student visas were granted to applicants in mainland China between April and September’s end, which is 99% fewer than the 90,410 F-1 student visas granted during the same period last year. The story is much the same for students of other countries: with 88% fewer F-1 visas granted to students in India, 87% fewer for students in Japan, 75% fewer for students in South Korea and 60% fewer for students from Mexico.

What’s going on? A confluence of factors, seemingly.

Coronavirus is most certainly among them, as families grow more hesitant to send their children to the U.S., which reported 93,581 new cases on Sunday alone, compared with 24 in China, 38,000 in India, 468 in Japan, 97 in South Korea and 3,762 in Mexico.

So is racism, with many Asians and Asian-Americans noting that Donald Trump’s rhetoric around the coronavirus has sharpened the racism they’ve faced throughout their lives, with terms like “kung flu” and “China virus” common in responses, per a recent survey by Washington State University researchers who say that increasing reports of racial discrimination since the start of the COVID-19 pandemic coincide with an increase in reported negative health symptoms. (The Nikkei notes that students already studying in the U.S. have been targets, too, citing a 23-year-old Chinese woman who was yelled at to leave the U.S.)

Yet an aggressive focus on Chinese espionage in Washington has played a bigger role, suggests the outlet, which speculates that the difficulty in obtaining American visas is likely to drive some Chinese students to other countries, including Canada.

Secretary of State Mike Pompeo, for example, said in remarks at the Richard Nixon Presidential Library in July that, “We opened our arms to Chinese citizens, only to see the Chinese Communist Party exploit our free and open society. China sent propagandists into our press conferences, our research centers, our high schools, our colleges and even into our PTA meetings.”

A backlash against Chinese students in particular is not a new one for the Trump administration, even while it’s been accelerated greatly in recent months. In 2018, the State Department began restricting to one year visas for Chinese graduate students studying in certain research fields, after which they need to reapply. The move rolled back a policy established during the Obama administration that allowed Chinese citizens to secure five-year student visas.

News: Insight Partners, Precursor Ventures join Hustle Fund in raising new fund money

Even as the country is in the final days of a polarizing election, the cogs of VC never stop turning. On this ever-so-quiet, non-election-news Tuesday, venture firms still managed to file paperwork with the SEC indicating newly raised funds. Precursor Ventures and Insight Partners will join Hustle Fund in closing new capital. The filings are

Even as the country is in the final days of a polarizing election, the cogs of VC never stop turning. On this ever-so-quiet, non-election-news Tuesday, venture firms still managed to file paperwork with the SEC indicating newly raised funds. Precursor Ventures and Insight Partners will join Hustle Fund in closing new capital.

The filings are noteworthy because they signal new capital coming into the startup world, which could look dramatically different in the coming weeks. Still, Precursor Ventures and Hustle Fund are both still fundraising, so expect them to (hopefully) add more capital in the coming months.

Precursor Ventures, led by Charles Hudson, has raised a new tranche of capital to invest in pre-seed companies. The firm first filed in March 2020 that it had plans to raise a $40 million fund, and today it appears that it has closed $29 million of that goal. Recent investments from Precursor include The Juggernaut, mmhmm and TeamPay. The fund made headlines recently because it promoted Sydney Thomas, its first hire, to principal. Hudson was unable to comment due to fundraising activity.

We also saw a filing from Insight Partners, which closed a $9.5 billion fund in April for startups and growth-stage investments, indicating that it has raised money for its first-ever Opportunity Fund. The SEC filing shows that Insight Partners has raised $413 million for the opportunity fund. Insight did not return a request for comment.

Earlier today, SEC filings also showed that Hustle Fund has raised $30 million for a second fund, surpassing its previous fund of $11.5 million. Interestingly, paperwork for this new fund was first filed in May 2019 with the intention to raise $50 million. Today’s news, thus, is its first close. While the firm is still fundraising, it’s a long gap between filing and first close. The fund was launched in 2018 by ex-500 Startup partners Eric Bahn and Elizabeth Yin to, similar to Precursor, invest in pre-seed startups. Hustle Fund invests $25,000 checks into 50 startups per year.

Yin declined to comment due to ongoing fundraising activity.

While the spree of funds on Election Day was noteworthy, it was somewhat expected. Generally speaking, funds want to get their paperwork cleared and closed before a potentially chaotic event or time of unrest. We saw closes from OpenView, Canaan, True Ventures and more, while firms including First Round and Khosla filed paperwork for new funds. Time will tell if this is a final exhale of news until January 1, or if the VC world will continue pushing droves of capital, holidays be damned.

News: ‘Stay home’ robocalls on Election Day prompt warnings, investigation

A scourge of robocalls that urges Americans to “stay safe and stay home” has gotten the attention of the FBI and the New York Attorney General over concerns of voter suppression. The brief message, which doesn’t specifically mention Election Day, has prompted New York Attorney General Letitia James to launch an investigation into the matter. James

A scourge of robocalls that urges Americans to “stay safe and stay home” has gotten the attention of the FBI and the New York Attorney General over concerns of voter suppression.

The brief message, which doesn’t specifically mention Election Day, has prompted New York Attorney General Letitia James to launch an investigation into the matter. James announced Tuesday that her office is actively investigating allegations that voters are receiving the robocalls.

“Voting is a cornerstone of our democracy,” James said in a statement Tuesday. “Attempts to hinder voters from exercising their right to cast their ballots are disheartening, disturbing and wrong.”

James added that such calls are illegal and will not be tolerated.

The FBI told TechCrunch that the agency is aware of reports of robocalls. The agency wouldn’t say if it is investigating the robocalls; however, a senior official at the Department of Homeland Security told reporters Tuesday that the FBI was investigating calls that seek to discourage people from voting, according to the AP.

“As a reminder, the FBI encourages the American public to verify any election and voting information they may receive through their local election officials,” the FBI said in a statement sent to TechCrunch.

The announcement from James follows subpoenas issued earlier this week by the New York AG office to investigate the source of these robocalls allegedly spreading disinformation. New York voters who receive concerning disinformation, or face issues at the polls can contact her office’s Election Protection Hotline at 1-800-771-7755.

“Every voter must be able to exercise their fundamental right to vote without being harassed, coerced, or intimidated. Our nation has a legacy of free and fair elections, and this election will be no different,” James added. “Voters should rest assured that voting is safe and secure, and they should exercise their fundamental right to vote in confidence. We, along with state leaders across the nation, are working hard to protecting your right to vote, and anyone who tries to hinder that right will be held accountable to the fullest extent of the law.”

Last month, the U.S. Department of Justice announced that an interagency working group convened by Attorney General William P. Barr released a report to Congress on efforts to stop illegal robocalls. The report described efforts by the DOJ, including two civil actions filed in January 2020 against U.S.-based Voice over Internet Protocol (VoIP) companies, the Federal Trade Commission and the Federal Communications Commission to combat illegal robocalls. Despite those efforts, and even evidence of some declines in robocalls for a time, the presidential election and the COVID-19 pandemic has fueled a spike in calls. 

News: Daily Crunch: China postpones Ant Group IPO

Yes, there’s a high-stakes presidential election underway, but tech news doesn’t stop completely: Chinese regulators pull the brakes on Ant Group’s IPO, Spotify adds standalone streaming support on Apple Watch and PayPal outlines its plans for 2021. This is your Daily Crunch for November 3, 2020. The big story: China postpones Ant Group IPO The

Yes, there’s a high-stakes presidential election underway, but tech news doesn’t stop completely: Chinese regulators pull the brakes on Ant Group’s IPO, Spotify adds standalone streaming support on Apple Watch and PayPal outlines its plans for 2021. This is your Daily Crunch for November 3, 2020.

The big story: China postpones Ant Group IPO

The Shanghai stock exchange has postponed Ant Group’s IPO a day after Chinese regulators held a closed-door meeting with Jack Ma and other company executives. The company has also halted plans for its public listing in Hong Kong.

Ant Group, a financial technology giant that spun out of Alibaba, was previously on track to raise $34.5 billion in the world’s largest IPO. It’s not exactly clear why the offering was called off, but Alibaba’s founder Ma recently gave a speech criticizing China’s financial regulation.

“We are sincerely sorry for any inconvenience brought to investors,” the company said in a statement. “We will properly handle follow-up matters following compliance regulations of the two exchanges.”

The tech giants

Spotify adds standalone streaming support to its Apple Watch app — The feature was spotted in testing back in September, and it arrives roughly two years after Spotify first debuted its dedicated Apple Watch app.

Twitter hides Trump tweet attacking Supreme Court’s decision on Pennsylvania ballots — In a preview of what to expect in the coming days, President Trump pushed the limits on Twitter’s election-specific policies Monday night.

PayPal details its digital wallet plans for 2021, including crypto, Honey integration and more — The company said it plans to roll out substantial changes to its mobile apps over the next year, including support for enhanced direct deposit, crypto and all of Honey’s shopping tools.

Startups, funding and venture capital

REEF Technology raises $700M from SoftBank and others to remake parking lots — REEF began its life as Miami-based ParkJockey, providing hardware, software and management services for parking lots.

Udacity raises $75M in debt, says its tech education business is profitable after enterprise pivot — The online learning company is now focused on winning over business customers.

Walmart reportedly ends contract with inventory robotics startup Bossa Nova — Walmart has reportedly pulled the plug on one of its highest-profile partnerships.

Advice and analysis from Extra Crunch

Four takeaways from fintech VC in Q3 2020 — The latest on insurtech, banking, wealth management and payments startups.

Gaming rules the entertainment industry, so why aren’t investors showing up? — Venture activity doesn’t seem to match the size of the games market.

How startups can shake up their first idea and still crush the market — Some thoughts on the ol’ startup pivot.

(Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Tech stocks rip higher on Election Day — The gains came long before any results that would indicate the election’s winner.

NBC News launches an iOS 14 widget that puts election results on your home screen — NBC News allows users to customize a series of widgets with information related to early voting stats, polls, current election results and more.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

News: Waymo pauses operations in San Francisco, stays the course in Phoenix on Election Day

Waymo has taken a dual approach to operations on Election Day. In San Francisco, where Waymo has been testing its autonomous vehicles, driving operations have been temporarily suspended Tuesday and Wednesday “out of an abundance of caution.” Its fleet of autonomous vehicles were moved Monday to nearby Mountain View, according to an internal email first

Waymo has taken a dual approach to operations on Election Day.

In San Francisco, where Waymo has been testing its autonomous vehicles, driving operations have been temporarily suspended Tuesday and Wednesday “out of an abundance of caution.” Its fleet of autonomous vehicles were moved Monday to nearby Mountain View, according to an internal email first reported by The Verge. Waymo has continued its testing operations on public roads in Mountain View, according to an email from Transdev, the vendor that Waymo has contracted with to staff its fleet operations. TechCrunch confirmed that Waymo has paused operations in San Francisco.

Over in Phoenix, where Waymo’s on-demand robotaxi service operates and shuttles actual customers, it’s business as usual. Waymo told TechCrunch that in Phoenix it “will continue to serve riders through our autonomous ride hailing service, in order to help facilitate travel to the polls, and will continue to closely monitor the situation in all cities where we operate. The safety of our team, riders and partners is of paramount importance.”

Waymo’s actions in San Francisco follow other businesses in the city, which have closed up shop and even boarded up windows over concern that civil unrest related to the election will boil over this week. Other AV companies such as Cruise and Zoox, which also test in San Francisco, have taken a wait-and-see approach.

Cruise, which has about 200 vehicles in its fleet and uses Aerotek to staff its driver operations, is monitoring events.

“Safety is our number one priority,” according to Cruise spokesperson Milin Mehta. “Our Operations team is monitoring the situation in real time, and has turnkey plans in place to ground the fleet and take all necessary steps to keep our team members safe.”

Cruise also gave all employees, including contract workers the day off to vote.

Zoox, which has a smaller fleet of about 50 vehicles that are tested in San Francisco and near its Foster City headquarters, continued testing today, although paused operations earlier than usual. The company is also monitoring the situation for the rest of the week.

Uber Advanced Technologies Group has tested in San Francisco in the past, but currently only has test operations in Pittsburgh. The company is not operational today because it has given all employees the day off to volunteer and vote. Testing is expected to resume in Pittsburgh this week, although a company spokesperson noted that they will reassess if the environment changes.

Aurora, which tests in Pittsburgh, the Dallas-Fort Worth area and the Silicon Valley enclaves of Palo Alto and Mountain View, is continuing operations in those locations and will “change course if needed.”

Argo AI wouldn’t provide specifics on whether it was testing today or altering its operations due to Election Day. However, a spokesperson did say that the company “places safety as the No. 1priority in all respects when it comes to our fleet testing operations and always monitors local environments where we operate and take whatever precautions are appropriate, no matter what day it is.”

News: Hustle Fund, a pre-seed firm, closes $30M for a new fund

Hustle Fund, a pre-seed fund built by former operators and founders, has raised $30 million for a new fund, per SEC filings. Hustle Fund first filed paperwork for this fund, its second to date, in May 2019 with intention to raise $50 million. Its inaugural investment vehicle closed at $11.5 million. Hustle Fund was unable

Hustle Fund, a pre-seed fund built by former operators and founders, has raised $30 million for a new fund, per SEC filings. Hustle Fund first filed paperwork for this fund, its second to date, in May 2019 with intention to raise $50 million. Its inaugural investment vehicle closed at $11.5 million.

Hustle Fund was unable to comment because it is still in fundraising mode.

Hustle Fund was created by Elizabeth Yin and Eric Bahn, two former 500 startups partners, with the goal of investing in pre-seed software startups. The firm has traditionally operated by investing $25,000 in a company, usually with a minimum-viable product, and then works with the team to help them grow. It does around 50 investments per year, according to its website.

It’s a small but focused investing approach, one that has gotten Hustle Fund into deals such as Webflow, NerdWallet, and The Hustle. But, as pre-seed grows and companies raise absurdly high first-check rounds, the need for bigger checks might be necessary for VCs to continue getting into deals. Thus, a bigger fund size for a fund a few years in is both practical and expected.

Still, don’t expect Hustle Fund to be changing up its investment appetite just yet. Yin joined us at Extra Crunch a few months ago to detail her check appetite.

“I think to a certain extent, putting money into faster experiments helps, but it only goes so far,” Yin said. “You can’t drive speed of execution with money; it happens through the speed of learning. And I think that’s something that there’s an upper bound as to how much and how many resources you can put into increasing that speed of learning in the earlier stages.”

News: After getting the date wrong earlier, Siri now knows today is Election Day

Listen chief, it’s Election Day in the United States. You know that, I know that. Everyone knows that — and in the off-chance anyone wasn’t clued in to the fact, the last few weeks have offered a non-stop barrage of reminders to vote. Today. Tuesday. November 3. 2020. It seems the last one to find

Listen chief, it’s Election Day in the United States. You know that, I know that. Everyone knows that — and in the off-chance anyone wasn’t clued in to the fact, the last few weeks have offered a non-stop barrage of reminders to vote. Today. Tuesday. November 3. 2020.

It seems the last one to find out, however, was Siri . If you happened to greet Apple’s smart assistant with a “Happy Election Day” earlier today, it may well have answered that the big day isn’t until November 8, as pointed out by noted Twitter enthusiast, Lucas Matney.

Image Credits: Kirsten Korosec

Apple has since fixed the issue, though the problem appears to be that Siri jumped the gun here. November 8 is, in fact, election day. Just not this year. November 8, 2022 marks another major election here in the U.S. — namely the midterms, which will no doubt be all sorts of fun and nerve-racking in their own beautiful way. A never-ending source if anxiety, this beautiful thing the ancient Greeks called “democracy.”

Siri notably wasn’t the only one that mixed up their dates. An Instagram cache issue earlier today caused the social media service to suggest to users that “Tomorrow is Election Day.” Which, it’s not. While it seems likely the presidential race will still be up in the air come tomorrow, showing up at your polling place to vote will likely be frowned upon.

 

 

News: Spotify adds standalone streaming support to its Apple Watch app

Spotify confirmed today it has begun to roll out support for standalone streaming on its Apple Watch app. The feature had been spotted in testing back in September, and arrives roughly two years after Spotify first debuted its dedicated Apple Watch app. With support for standalone streaming, users can listen to Spotify music or podcasts

Spotify confirmed today it has begun to roll out support for standalone streaming on its Apple Watch app. The feature had been spotted in testing back in September, and arrives roughly two years after Spotify first debuted its dedicated Apple Watch app.

With support for standalone streaming, users can listen to Spotify music or podcasts via a Wi-Fi connection or over cellular, without needing to be tethered to their iPhone.

The lack of support for standalone streaming has been a long time sore subject for a core group of Spotify’s customers. It’s even more of an issue for those who want to leave their iPhone behind when they’re exercising — like when they’re out for a run, for example — as well as any other time when carrying around an iPhone could be cumbersome.

With standalone streaming, however, Spotify users can stream from their wrist directly to their Bluetooth headphones or AirPods.

In the app, the option is still flagged with a beta label for some users, however.

Image Credits: Spotify app, phone via TechCrunch

The update to the Spotify app was spotted in the U.S. by 9to5Mac, which noted more users had started seeing the feature show up for them even though they hadn’t been a part of the September test group.

Spotify is not the first music service to offer a standalone streaming experience on the Apple Watch. In addition to Apple’s own Apple Music service, Pandora rolled out support for standalone streaming back in February 2020.

However, it is ahead of YouTube Music on this front. Although YouTube just launched an Apple Watch version of its streaming music service in mid-October, it works more like a remote control from the YouTube Music app.

Spotify confirmed the launch in statement to TechCrunch, but it hasn’t made a formal announcement about the update.

“We’re focused on developing experiences that enable users to listen to Spotify wherever and whenever they want – regardless of the device or platform,” a Spotify spokesperson said. “After an initial testing period, we are now rolling out streaming capabilities for Spotify on the Apple Watch,” they added.

 

News: Gaming rules the entertainment industry, so why aren’t investors showing up?

As gaming’s popularity reaches epic heights, venture investors’ activity in the industry doesn’t seem to equate with the overall size of the games market. Spurred by an unreal year where traditional entertainment has been upended by the COVID-19 pandemic and consumers find unity in virtual worlds like Animal Crossing and Fortnite, gaming has never been

As gaming’s popularity reaches epic heights, venture investors’ activity in the industry doesn’t seem to equate with the overall size of the games market. Spurred by an unreal year where traditional entertainment has been upended by the COVID-19 pandemic and consumers find unity in virtual worlds like Animal Crossing and Fortnite, gaming has never been more popular.

Late-stage investors have shown that they have a tremendous appetite for businesses in the gaming industry. They’ve been pouring capital into established gaming companies like Scopely, which on Wednesday announced a $340 million investment round at a $3.3 billion valuation. But venture capital simply hasn’t given the gaming industry and the broader synthetic market the attention it deserves given its place in the entertainment and cultural firmament.

Just ask LeBron “Bronny” James Jr., the son of the NBA’s biggest star, who became a professional athlete this week — as a gamer with one of the most popular teams in online gaming, FaZe Clan. Or look at Unity, the creator of a popular game development engine, whose stock price has nearly doubled since its public offering in mid-September. Since opening trading at $56 per share, the stock has nearly doubled in value and is now trading at $100 per share.

In the first half of the year gamers spent $36.8 billion on games through both the Android and iOS app stores, according to data from SensorTower. New game installs are also up for the year. The app analytics company said that new game installs were up to 28.4 billion over the first half of the year. Annually the 15 billion new game downloads in the second quarter represented a 45.2% year-on-year growth in gaming.

Then there’s Bitkraft, one of the only venture firms to focus on the totality of the gaming industry, which announced the close of its most recent fund, a $165 million investment vehicle. The firm, which added a former Goldman Sachs managing director earlier in the year to capitalize on the opportunity in what the firm calls “synthetic reality” investments, raised $25 million more than its $140 million target. One of these things is not like the others.

“I’ve been in the games industry for 23 years now [and] I’ve always had this huge fundamental conviction of video games not only dominating the entertainment industry but sort of taking up a big part of what society is — where video games create the digital identities that define evermore of what we understand of ourselves,” said Jens Hilgers, Bitkraft’s founding general partner. “We feel that these are times of acceleration … it’s great to see how we’re leapfrogging one or two or three years of the games industry in this crisis and it makes it more exciting to invest in these times.”

The Unity public offering, and its emphasis on markets outside of gaming, seems to prove Hilgers point and show just how much opportunity remains around the notion of synthetic reality in business and entertainment.

“Their thesis around democratizing access to gaming tools by letting hobbyists use the tools for free is smart, if you want to win the market,” said Alice Lloyd George, founder of Rogue Ventures, a new investment firm focused on frontier technologies and gaming investments.

Lloyd George compared Unity’s business to its biggest competitor, Epic Games, and noted that both have broad aspirations. “Both of them want to use their game engines beyond pure gaming,” Lloyd George said of the two big new gaming platform developers. “Unity is really well-positioned because they’re so strong on mobile. That positions them well for AR and VR. And you need onramps for the developers for AR and VR.”

Engagement and the future of entertainment

When Scopely’s co-chief executive Walter Driver talks about the attraction of gaming properties for players — and the reason investors have been willing to value his Los Angeles-based company in the billions of dollars — he talks about the connections between players. “People have found — and investors looking at the space have found also — that people value the connection they’re getting from interactive experiences. It’s not just our relationship with the players, but their relationships with each other,” Driver said. “Inside of most passively consumed media experiences, you don’t have an identity. You don’t have friends.“

News: iRobot issues warning for select Roomba i7+ docking stations over potential short circuiting

Robotic vacuum giant iRobot this week sent warnings to select owners of the Roomba i7+, noting that the Clean Base docking station has the potential to malfunction and short circuit. According to iRobot, concern stems from “very rare cases,” wherein liquids are deposited into the Clean Base Automatic Dirt Disposal unit. “We learned that certain Roomba i7+

Robotic vacuum giant iRobot this week sent warnings to select owners of the Roomba i7+, noting that the Clean Base docking station has the potential to malfunction and short circuit. According to iRobot, concern stems from “very rare cases,” wherein liquids are deposited into the Clean Base Automatic Dirt Disposal unit.

“We learned that certain Roomba i7+ Clean Base docking stations could malfunction and potentially present a hazard if liquids are collected by the Roomba i7+ robot vacuum and deposited into the Clean Base unit,” the company said in a statement to TechCrunch. “Our vacuums are only designed for cleaning up dirt and debris from dry floors and carpets and should never be used to pick up any liquids.”

The company believes around 222,000 units are potentially impacted by the issue. Of that number, the vast majority (around 210,000) were sold in North America. Emails and app notifications have been sent to users, alerting them of the problem. The company will send a replacement power cord or docking station to those with affected serial numbers.

The  i7+ was released in 2018. The system sports some key advancements in mapping smarts, along with the impacted docking, which automatically cleans the Roomba’s on-board bin.

WordPress Image Lightbox Plugin