Monthly Archives: September 2021

News: Thoma Bravo takes a stake in threat intelligence provider Intel 471

Private equity giant Thoma Bravo has taken a stake in Intel 471, a provider of cyber threat intelligence for enterprises and governments. The strategic growth investment, which comes as organizations double-down on cybersecurity amid a pandemic-fueled rise in cyber threats, will enable Intel 471 to evolve its product suite, broaden its go-to-market strategy and continue

Private equity giant Thoma Bravo has taken a stake in Intel 471, a provider of cyber threat intelligence for enterprises and governments.

The strategic growth investment, which comes as organizations double-down on cybersecurity amid a pandemic-fueled rise in cyber threats, will enable Intel 471 to evolve its product suite, broaden its go-to-market strategy and continue to “aggressively pursue innovation,” according to Thoma Bravo. Financial terms of the deal were not disclosed.

Intel 471, a Texas-based firm founded in 2014, takes a preventative approach to cybersecurity. It leverages its access to forums and dark web marketplaces to equip organizations with intelligence and monitoring on threat actors and malware attacks. Using the company’s platform, businesses can track threat actor activity and vulnerability exploits, analyze near-real-time monitoring of malware activity, trace threats that could cause security breaches, and receive alerts on compromised credentials.

“As cybercriminals and their tactics become increasingly sophisticated, our monitoring and intelligence solutions have become mission-critical, with organizations of all sizes looking to us to help them protect against attacks,” said Mark Arena, CEO of Intel 471.

Arena, along with fellow co-founder Jason Passwaters, will continue to lead Intel 471 and will retain a “significant” ownership position

Thoma Bravo’s investment in Intel 471 sees the private equity firm continue its cybersecurity investing spending-spree. Its recent $12.3 billion purchase of Proofpoint, for example, said to be the largest acquisition in cybersecurity history, trumps Broadcom’s $10.7 billion purchase of Symantec, Intel’s $7.6 billion acquisition of McAfee, and Okta’s proposed $6.5 billion acquisition of Auth0.

Thoma Bravo also previously acquired Sophos for $3.9 billion, took a majority stake in LogRhythm and paid $544 million for authentication startup Imprivata. 

News: Sila Nanotechnologies’ battery technology will launch in Whoop wearables

Sila Nanotechnologies next-generation battery technology made its commercial product debut Wednesday in the new Whoop fitness tracker, a milestone that caps a decade of research and development by the Silicon Valley startup all aimed at cracking the code to packing more energy into a cell at a lower cost. Billions have been spent over the

Sila Nanotechnologies next-generation battery technology made its commercial product debut Wednesday in the new Whoop fitness tracker, a milestone that caps a decade of research and development by the Silicon Valley startup all aimed at cracking the code to packing more energy into a cell at a lower cost.

Billions have been spent over the past few years on improving battery chemistry, with different startups aiming to either replace the anode or the cathode with a conversion material, like silicon or even lithium in the case of solid state companies.

Sila Nano’s battery chemistry recipe replaces graphite in a battery cell’s anode with silicon to create a more energy-dense and cheaper battery pack. Other companies, like BASF are focusing on creating a high energy dense cathode. 

While numerous companies are working on a variety of different battery chemistries, they have yet to take over the traditional cell technology found in today’s lithium-ion cells. The Sila battery used in the upcoming Whoop 4.0, the company’s latest health and performance tracker, could be the first time in the last few decades the world has seen a next-generation battery chemistry ship to market. 

“Launching a small fitness tracker doesn’t seem like a big thing, but this is really the first device in the market that proves our breakthrough, and over time, this will scale and lead to the electrification of everything,” Gene Berdichevsky, founder and CEO of Sila Nano, told TechCrunch.

Electric vehicles, and Sila Nano’s role in powering them, is at the top of Berdichevsky’s “electrification of everything” list. And the company has already made headway.

Sila Nano has joint battery ventures with BMW and Daimler to produce batteries containing the company’s silicon-anode technology, with the goal of going to market in the automotive industry by 2025. 

“You can translate this success with Whoop to cars in many ways,” said Berdichevksy. “Today, if you want a really long range vehicle, it better be a pretty big car. The smaller the EV, the shorter the range because there’s nowhere to put the battery. But as our technology advances into the automotive market, you’ll be able to have a city car that has 400 miles of range on it. This is enabling more segments of the auto industry to electrify.” 

Whoop, which earlier this month announced a $200 million raise at a $3.6 billion valuation, is introducing the Whoop 4.0 as a wearable that’s 33% smaller, in large part as a result of Sila’s battery, which has about 17% higher energy density, according to Berdichevsky. Not only does a denser, better battery lead to a smaller wearable, but Whoop was able to add additional features – like a sleep coach with haptic alerts, a pulse oximeter, a skin temperature sensor and a health monitor – without compromising its five-day battery life. 

“One of the key outcomes of enabling a chemistry like ours is it allows you to build things that couldn’t otherwise be built,” said Berdichevsky. 

In Whoop’s case, that’s referring to its new Any-Wear tech that allows the wearable to be integrated into a new line of garments like bands that can collect sensor data from areas including the torso, waist and calf.

It’s not just Sila’s chemistry that’s allowing for a successful product to go to market. It’s the scalability of the product that’s really important. Scalability has been built into Sila’s roadmap from the beginning. 

“One of the things we did very early on is we told our scientists and engineers they could only use global commodity inputs so that we know we can make enough for millions of cars,” said Berdichevsky. “Next we said you had to use only what we call ‘bulk manufacturing’ techniques, and that means you use volumetric reactors rather than planar reactors.”

An easy way to think about the difference in reactor types is through the analogy of making enough food to feed a crowd: A big pot of chili (the volumetric reactor) will go a lot farther than individual pizza pies (planar reactors).

Berdichevsky also told his team that anything they created had to be able to seamlessly drop into any battery factory process, whether that factory is supplying batteries for smartphones, cars or drones. 

Sila Nano has already proven scalability twice, Berdichevsky said. The first time it scaled 100x from lab to pilot, starting with volumetric reactors that were about the size of a liter. Wednesday’s partnership with Whoop marks the second time the company has scaled up 100x, and this time to 5,000 liter reactors. To put that in relative terms, a couple of humans could probably climb into one of those reactors. The next stage of scaling will involve reactors large enough that you could drive a car through, says Berdichevsky, which is fitting given Sila Nano’s goal of scaling up to automotive quantities over the next three years. 

“The reason we’re not in cars today is we have to go scale up 100x to have enough to really deploy in cars, but the material is the same,” said Berdichevsky. “The particles, the powder we make, it’s the same in every one of the scales we’ve made so far.”

News: TrueFort snares $30M Series B to expand zero trust application security solution

As companies try to navigate an ever-changing security landscape, it can be challenging to protect everything. Security startup TrueFort has built a zero trust solution focussing on protecting enterprise applications. Today, the company announced a $30 million Series B. Shasta Ventures led today’s round with participation from new firms Canaan and Ericsson Ventures along with

As companies try to navigate an ever-changing security landscape, it can be challenging to protect everything. Security startup TrueFort has built a zero trust solution focussing on protecting enterprise applications. Today, the company announced a $30 million Series B.

Shasta Ventures led today’s round with participation from new firms Canaan and Ericsson Ventures along with existing investors Evolution Equity Partners, Lytical Ventures and Emerald Development Managers. Under the terms of the agreement Nitin Chopra, managing director at Shasta Ventures will be joining the company board. Today’s investment brings the total raised to almost $48 million.

CEO and co-founder Sameer Malhotra says that TrueFort protects customers by analyzing at each application and figuring out what normal behavior looks like. Once it understands that, it will flag anything that falls outside of the norm. The company achieves this by gathering data from partners like CrowdStrike and from multiple points within the application and infrastructure.

“Once we get this telemetry, whether it’s networks, endpoints, servers or third party partners, we then help the customer build a picture of what those applications are doing and what’s normal behavior. We then help them baseline that, and monitor that in real time with response and real time controls to continue those applications through their normal life cycle,” he said.

Zero trust is a concept where as a matter of policy you assume that you cannot trust any individual or device until the entity proves it belongs on your systems. Malhotra says that customers are becoming more comfortable with the concept and in 2020 the company saw massive 650% revenue growth.

“We are seeing the demand, especially as zero trust is becoming a more familiar vernacular amongst the security community […]. Again, it’s having the visibility and understanding, and then being able to then reduce it to the limited number of acceptable relationships or executions,” he said. And he believes that it all comes down to understanding your applications and how they operate.

TrueFort co-founders Nazario Parsacala and Sameer Malhotra

TrueFort co-founders Nazario Parsacala and Sameer Malhotra

The company currently has 60 employees with hopes of reaching 85 or 90 by the end of the year. Malhotra says that as they build the employee base, they are driving to make it diverse at every level.

“We look at diversity across our whole management team, all the way from the board down to our different levels. We are quite aggressive in hiring diverse candidates, whether they’re women or LGBTQ or people of color. And we have focused programs where we work with different universities […] to bring on new employees from a diverse talent pool. We also work with different recruiters from that perspective, and our focus is always to look at a different palette and to make sure that we’re as diverse an organization as we can,” he said.

The company was founded in 2015 by Malhotra and his partner Nazario Parsacala, both of whom spent more than 20 years working at big financial services companies — Goldman Sachs and JP Morgan. They worked for a couple of years building the program, launching the first beta in 2017 before bringing the first generally available product to market the following year.

Currently customers can install the solution on prem or in the cloud of their choice, but the company has a SaaS solution in the works as well, that will be ready in the next couple of months.

News: A Chinese EV startup wants to build a ridable robot unicorn for kids

Never mind buying a robot dog for your kids — you might just get them a mythical creature instead. Chinese EV maker Xpeng has teased a robot unicorn meant for children to ride.

Never mind buying a robot dog for your kids — you might just get them a mythical creature instead. Chinese EV maker Xpeng has teased a robot unicorn meant for children to ride. As SCMP notes, the quadruped will take advantage of Xpeng’s experiences with autonomous driving and other AI tasks to navigate multiple terrain types, recognize objects and provide “emotional interaction.”

The company is shy on most other details, although the design looks and trots like a cuter, more kid-friendly version of Boston Robotics’ Spot. It’s appropriately about as tall as a child. Sorry, folks, you won’t prance your way to work.

This robot unicorn is just about as mythical as the ‘real’ thing, too. Xpeng hasn’t revealed when it expects to deliver its robotic horse-with-a-horn, let alone pricing or availability. It might not cost as much as a $75,000 Spot, but we’d expect something this sophisticated to cost more than the $2,900 Aibo from 2019.

To some extent, profit is beside the point. Xpeng chief He Xiaopeng said the unicorn was part of a broader move into the robotics space by taking advantage of the company’s existing technology. Think of this as a first step. What Xpeng learns from its unicorn could lead to more sophisticated (and hopefully adult-oriented) robots you’re more likely to buy.

Editor’s note: This article originally appeared on Engadget.

News: UK offers cash for CSAM detection tech targeted at e2e encryption

The UK government is preparing to spend over half a million dollars to encourage the development of detection technologies for child sexual exploitation material (CSAM) that can be bolted on to end-to-end encrypted messaging platforms to scan for the illegal material, as part of its ongoing policy push around Internet and child safety. In a

The UK government is preparing to spend over half a million dollars to encourage the development of detection technologies for child sexual exploitation material (CSAM) that can be bolted on to end-to-end encrypted messaging platforms to scan for the illegal material, as part of its ongoing policy push around Internet and child safety.

In a joint initiative today, the Home Office and the Department for Digital, Media, Culture and Sport (DCMS) announced a “Tech Safety Challenge Fund” — which will distribute up to £425,000 (~$584k) to five organizations (£85k/$117k each) to develop “innovative technology to keep children safe in environments such as online messaging platforms with end-to-end encryption”.

A Challenge statement for applicants to the program adds that the focus is on solutions that can be deployed within e2e encrypted environments “without compromising user privacy”.

“The problem that we’re trying to fix is essentially the blindfolding of law enforcement agencies,” a Home Office spokeswoman told us, arguing that if tech platforms go ahead with their “full end-to-end encryption plans, as they currently are… we will be completely hindered in being able to protect our children online”.

While the announcement does not name any specific platforms of concern, Home Secretary Priti Patel has previously attacked Facebook’s plans to expand its use of e2e encryption — warning in April that the move could jeopardize law enforcement’s ability to investigate child abuse crime.

Facebook-owned WhatsApp also already uses e2e encryption so that platform is already a clear target for whatever ‘safety’ technologies might result from this taxpayer-funded challenge.

Apple’s iMessage and FaceTime are among other existing mainstream messaging tools which use e2e encryption.

So there is potential for very widespread application of any ‘child safety tech’ developed through this government-backed challenge. (Per the Home Office, technologies submitted to the Challenge will be evaluated by “independent academic experts”. The department was unable to provide details of who exactly will assess the projects.)

Patel, meanwhile, is continuing to apply high level pressure on the tech sector on this issue — including aiming to drum up support from G7 counterparts.

Writing in paywalled op-ed in Tory-friendly newspaper, The Telegraph, she trails a meeting she’ll be chairing today where she says she’ll push the G7 to collectively pressure social media companies to do more to address “harmful content on their platforms”.

“The introduction of end-to-end encryption must not open the door to even greater levels of child sexual abuse. Hyperbolic accusations from some quarters that this is really about governments wanting to snoop and spy on innocent citizens are simply untrue. It is about keeping the most vulnerable among us safe and preventing truly evil crimes,” she adds.

“I am calling on our international partners to back the UK’s approach of holding technology companies to account. They must not let harmful content continue to be posted on their platforms or neglect public safety when designing their products. We believe there are alternative solutions, and I know our law enforcement colleagues agree with us.”

Today I am leading discussions with my G7 counterparts on how to keep our children safe online.

I’m calling on them to back the UK’s approach of asking social media companies to put safety before profits.

Read more at https://t.co/FZczZBwPgl pic.twitter.com/4PzcLvME1O

— Priti Patel (@pritipatel) September 8, 2021

In the op-ed, the Home Secretary singles out Apple’s recent move to add a CSAM detection tool to iOS and macOS to scan content on user’s devices before it’s uploaded to iCloud — welcoming the development as a “first step”.

“Apple state their child sexual abuse filtering technology has a false positive rate of 1 in a trillion, meaning the privacy of legitimate users is protected whilst those building huge collections of extreme child sexual abuse material are caught out. They need to see th[r]ough that project,” she writes, urging Apple to press ahead with the (currently delayed) rollout.

Last week the iPhone maker said it would delay implementing the CSAM detection system — following a backlash led by security experts and privacy advocates who raised concerns about vulnerabilities in its approach, as well as the contradiction of a ‘privacy-focused’ company carrying out on-device scanning of customer data. They also flagged the wider risk of the scanning infrastructure being seized upon by governments and states who might order Apple to scan for other types of content, not just CSAM.

Patel’s description of Apple’s move as just a “first step” is unlikely to do anything to assuage concerns that once such scanning infrastructure is baked into e2e encrypted systems it will become a target for governments to widen the scope of what commercial platforms must legally scan for.

However the Home Office’s spokeswoman told us that Patel’s comments on Apple’s CSAM tech were only intended to welcome its decision to take action in the area of child safety — rather than being an endorsement of any specific technology or approach. (And Patel does also write: “But that is just one solution, by one company. Greater investment is essential.”)

The Home Office spokeswoman wouldn’t comment on which types of technologies the government is aiming to support via the Challenge fund, either, saying only that they’re looking for a range of solutions.

She told us the overarching goal is to support ‘middleground’ solutions — denying the government is trying to encourage technologists to come up with ways to backdoor e2e encryption.

In recent years in the UK GCHQ has also floated the controversial idea of a so-called ‘ghost protocol’ — that would allow for state intelligence or law enforcement agencies to be invisibly CC’d by service providers into encrypted communications on a targeted basis. That proposal was met with widespread criticism, including from the tech industry, which warned it would undermine trust and security and threaten fundamental rights.

It’s not clear if the government has such an approach — albeit with a CSAM focus — in mind here now as it tries to encourage the development of ‘middleground’ technologies that are able to scan e2e encrypted content for specifically illegal stuff.

In another concerning development, earlier this summer, guidance put out by DCMS for messaging platforms recommended that they “prevent” the use of e2e encryption for child accounts altogether.

Asked about that, the Home Office spokeswoman told us the tech fund is “not too different” and “is trying to find the solution in between”.

“Working together and bringing academics and NGOs into the field so that we can find a solution that works for both what social media companies want to achieve and also make sure that we’re able to protect children,” said said, adding: “We need everybody to come together and look at what they can do.”

There is not much more clarity in the Home Office guidance to suppliers applying for the chance to bag a tranche of funding.

There it writes that proposals must “make innovative use of technology to enable more effective detection and/or prevention of sexually explicit images or videos of children”.

“Within scope are tools which can identify, block or report either new or previously known child sexual abuse material, based on AI, hash-based detection or other techniques,” it goes on, further noting that proposals need to address “the specific challenges posed by e2ee environments, considering the opportunities to respond at different levels of the technical stack (including client-side and server-side).”

General information about the Challenge — which is open to applicants based anywhere, not just in the UK — can be found on the Safety Tech Network website.

The deadline for applications is October 6.

Selected applicants will have five months, between November 2021 and March 2022 to deliver their projects.

When exactly any of the tech might be pushed at the commercial sector isn’t clear — but the government may be hoping that by keeping up the pressure on the tech sector platform giants will develop this stuff themselves, as Apple has been.

The Challenge is just the latest UK government initiative to bring platforms in line with its policy priorities — back in 2017, for example, it was pushing them to build tools to block terrorist content — and you could argue it’s a form of progress that ministers are not simply calling for e2e encryption to be outlawed, as they frequently have in the past.

That said, talk of ‘preventing’ the use of e2e encryption — or even fuzzy suggestions of “in between” solutions — may not end up being so very different.

What is different is the sustained focus on child safety as the political cudgel to make platforms comply. That seems to be getting results.

Wider government plans to regulate platforms — set out in a draft Online Safety bill, published earlier this year — have yet to go through parliamentary scrutiny. But in one already baked in change, the country’s data protection watchdog is now enforcing a children’s design code which stipulates that platforms need to prioritize kids’ privacy by default, among other recommended standards.

The Age Appropriate Design Code was appended to the UK’s data protection bill as an amendment — meaning it sits under wider legislation that transposed Europe’s General Data Protection Regulation (GDPR) into law, which brought in supersized penalties for violations like data breaches. And in recent months a number of social media giants have announced changes to how they handle children’s accounts and data — which the ICO has credited to the code.

So the government may be feeling confident that it has finally found a blueprint for bringing tech giants to heel.

News: Twitter tests a safety feature on web to remove followers without blocking them

Twitter announced yesterday that it’s testing a feature on the web that makes it possible to remove followers without blocking them. Sometimes, users want to stop a follower from seeing their tweets without outright blocking them — if that follower were to navigate directly to their page, it’d be clear that they had been blocked,

Twitter announced yesterday that it’s testing a feature on the web that makes it possible to remove followers without blocking them. Sometimes, users want to stop a follower from seeing their tweets without outright blocking them — if that follower were to navigate directly to their page, it’d be clear that they had been blocked, which can pose safety risks. Now, some Twitter users with access to this test can remove a follower by navigating to their profile and clicking to view their list of followers. Then, they can click on a three dot icon next to the follow button and select “remove this follower” from the drop-down menu. Not all users currently have this functionality.

We’re making it easier to be the curator of your own followers list. Now testing on web: remove a follower without blocking them.

To remove a follower, go to your profile and click “Followers”, then click the three dot icon and select “Remove this follower”. pic.twitter.com/2Ig7Mp8Tnx

— Twitter Support (@TwitterSupport) September 7, 2021

Previously, users had maneuvered this “soft block” themselves — if you block a user, then unblock them, it removes them from your followers list. The current test only allows you to remove followers from your own follower list, so if you’re a particularly popular tweeter, it could be difficult to scroll through thousands of names to find the one person you’re looking for. But according to app researcher Alessandro Paluzzi, Twitter has also been working on the ability to remove a follower from their profile, not just your own followers list.

#Twitter is working on an option to remove followers directly from their profile 👀pic.twitter.com/g9Q1ve3qS1

— Alessandro Paluzzi (@alex193a) August 4, 2021

The platform is showing a continued investment in user experience updates focused on web safety. Last week, it revealed a suite of privacy tools that it’s working on, which included the ability to remove followers. The platform also proposed the potential to archive tweets after 30, 60, or 90 days, hiding liked tweets, and leaving conversations. While third-party programs like Semiphemeral have long made it possible to automatically old tweets and unlike messages, having these features built into the app itself could make it easier for users to have greater control over their digital presence without sharing their data with outside developers.

News: Former head of Mint raises $4.5M for Lean to give gig workers access to financial products

Gig and independent workers have different needs when it comes to financial products than salaried employees at a company. It’s a challenge that Tilak Joshi, founder of Lean, became acutely aware of during his tenure as head of Mint and years as a product exec at American Express and PayPal. While the U.S. has seen

Gig and independent workers have different needs when it comes to financial products than salaried employees at a company.

It’s a challenge that Tilak Joshi, founder of Lean, became acutely aware of during his tenure as head of Mint and years as a product exec at American Express and PayPal.

While the U.S. has seen a major shift in more independent workers in recent years, traditional financial institutions have “failed to keep up,” in his view.

“Seventy percent of independent workers live paycheck to paycheck and 30% are inadequately insured,” he said. “Independent workers will soon become the majority of the US workforce, and the existing conversation, platforms, and institutions need to rapidly evolve to support them.”

Upon leaving Mint in 2020, Joshi founded Lean to support gig workers with a platform that offers access to financial products that he says are “custom built” for their needs. And today, Lean is announcing it has raised $4.5 million in a seed round led by Inspired Capital that included participation from Atelier Ventures, Oceans Ventures and Acequia Capital.

Notably, a slew of marketplace industry operators also put money in the round including DoorDash exec Gokul Rajaram; Instacart co-founder Max Mullen; Manik Gupta, ex-CPO Uber; , Vivek Patel, ex-COO of Postmates), Bird CPO Ryan Fujiu and others. The latest financing brings Lean’s total raised to nearly $6 million to date. Other high-profile angels who have backed the company include Charlie Songhurst, Lightspeed Venture Partners (and former Stripe exec) Justin Overdorff, Coinbase’s Marc Bhargava, and executives from ANGI Homeservices, Coinbase and Plaid. 

“Independent workers see some of the most restrictive financial scenarios of anywhere in the U.S.,” Joshi told TechCrunch. “What workers do to patch up their financial problems is work across various gig marketplaces and when marketplaces try to keep them and pay them incentives, they just figure out how to game the system. It just turns into inefficiency on both sides where marketplaces don’t really have the stability of having a strong workforce they can rely on and workers are also just in a tight spot.”

Lean aims to help independent workers by partnering directly with marketplaces to offer financial products and benefits. The goal is to help marketplaces with worker acquisition and retention by giving gig workers access to “no-cost capital, instant payouts and financial products such as mortgages, “low-to-no-cost borrowing,” HSAs and insurance. 

Lean works with marketplaces of all sizes that employ either 1099 or W2 workers that work in industries such as ride-hailing, courier, healthcare and construction. Joshi said that in addition to boosting worker acquisition and retention, Lean has the potential to “unlock” revenue for marketplaces via financial products and infrastructure rather than through fees to workers. 

Its platform, Joshi said, is designed to be integrated with any marketplace in less than two weeks. Through its marketplace partnerships, Lean expects to be rolling out to “hundreds of thousands” of gig workers across the country over the coming months, according to Joshi.

There’s no cost for marketplaces and no cost for workers. Lean expects to earn revenue through the fees associated with the movement of money via its platform, Joshi said. So far, the startup has inked deals with half a dozen marketplaces, and has another half a dozen in the works.

The company plans to use its new capital to expand its offering and continue to scale across marketplaces.

Mark Batsiyan, partner at Inspired Capital, says he was attracted to Lean because of the team, market timing and approach. 

“There are huge market tailwinds to better serving gig workers, and marketplaces are increasingly searching for better ways to attract and retain their workers,” he wrote via email. “Also, Tilak [Joshi] came to a similar conclusion to us at Inspired: that marketplaces would not build these solutions themselves. They need an intermediary — like Lean — to make financial benefits a turnkey solution.”

Batsiyan also believes that Lean’s B2B2C approach is unique. 

“As a platform, Lean can then leverage its partnerships to achieve much more efficient distribution to the end workers,” he said. 

Earlier this year, Mint’s first product manager raised $4.8 million in seed funding for Monarch, a subscription-based platform that aims to help consumers “plan and manage” their financial lives.

News: We must subsidize and regulate space exploration

Space can and should be about much more than giving the 1% another Instagrammable moment and increasing the wealth of the billionaires who provide the service.

Joshua Jahani
Contributor

Joshua Jahani is a lecturer at Cornell University and New York University, and a board adviser at the investment bank Jahani and Associates specializing in the Middle East and Africa.

In 1989, Tim Berners-Lee invented the World Wide Web (popularizing the modern internet). He didn’t protect the technology because he wanted it to benefit us all. Three decades later, most of the power — and a lot of the profits — of the internet are in the hands of a few tech billionaires, and much of the early promise of the internet remains unfulfilled.

To avoid the same fate for space, we need to subsidize new players to create competition and lower costs, as well as regulate space travel to ensure safety.

Space matters. It could create countless jobs and fuel economies, and may even hold the solution to climate change. Investors can already see this, having poured billions into space companies in an industry with a potential market value of $1.4 trillion by 2030.

Space may seem too vast to be dominated by a few tech billionaires, but in 1989, so did the internet. We need to get this right, because from the mechanics and aerospace engineers to the marketing, information and logistics workers, the space industry could fuel global job creation and economic growth.

For that to happen, we need competition. What we have now is a few players operating perhaps for their founders’ benefits, not the world’s.

We should not repeat the mistakes we made with the internet and wait for the technology to be abused before we step in. For example, in the Cambridge Analytica scandal, a private technology company used weapons-grade social media manipulation to pursue their own profit (which is their obligation to their shareholders) but to society’s harm (which it is regulators’ job to protect).

In space, the stakes are even higher. They also affect all of humanity, not a few countries. There are environmental dangers (we are probing the carbon cost of “Earth” flights, but not space flights), and an accident, as well as leading to loss of life in space, could send fatal debris to Earth.

These dangers are not unforeseen. Virgin Galactic had its first fatality in 2014. A Space X launch puts out as much carbon dioxide as flying around 300 people across the Atlantic. Earlier this year, some unguided space debris from a Chinese rocket landed in the Maldives.

We should not wait until these accidents happen again — perhaps at a bigger scale — before we act.

Space tourism can and should be about much more than giving the 1% another Instagrammable moment and increasing the wealth of the billionaires who provide the service.

The space industry should be managed in a way that delivers the most good to the largest number of people. That starts with subsidies.

In short, we should treat space travel like any other form of transit. Making that sustainable economically will almost inevitably require some government intervention.

We have been here before: When the combination of air travel, highways and rising labor costs led the two largest railways in the United States to bankruptcy, the Nixon administration intervened and created Amtrak.

This wasn’t ideologically fueled (quite the opposite). This was a decision to make sure the U.S. reaped the economic benefits of interstate travel. Even though Amtrak remains unprofitable 50 years after its creation, it is a crucial piece of economic infrastructure upon which many other industries — as well as millions of individuals and families — rely.

We need to do the same with space travel. Very few individuals will benefit from what will be an uber-luxury segment of the travel market, with Virgin Galactic tickets predicted to cost $250,000 (and that is the entry-level space travel product; Virgin’s competitors are priced at multiples of that cost).

If we subsidize the industry now, while ensuring there are new competitors in space, we can ensure it hits a critical mass where all the broader benefits of space travel become a reality.

This will be much easier than waiting for monopolies to emerge and then trying to fight them (which is what the U.S. Federal Trade Commission is trying to do, decades too late, to Big Tech).

Space travel is not just hype or the plaything of billionaires. It is the final frontier, both physically and economically.

If we want it to be a success, we should learn from our successes and failures back on Earth and apply them to space now.

That means subsidies, support, regulation and safety. These things are important on Earth, but in space they are absolutely essential.

News: TikTok, influencers on the clock

Alex Wilhelm is on a well-deserved vacation this week, so for the Equity Wednesday deep dive, we took the conversation to Twitter Spaces.

Alex is on a well-deserved vacation this week, so for the Equity Wednesday deep dive, we took the conversation to Twitter Spaces. Danny, Mary Ann and Jonathan Metrick, the chief growth officer at Portage Ventures, dove into growth marketing. You can listen to the full episode on the Equity Podcast feed.

This conversation was spurred by the TechCrunch Experts project, where we’re looking for the best growth marketers for startups. Metrick was recommended to us in July (you can read his featured recommendation in our growth roundup) and we were eager to learn from his experience.

Help TechCrunch find the best growth marketers for startups.

Provide a recommendation in this quick survey and we’ll share the results with everybody.

In this conversation, we cover:

  • Influencers taking on the marketing world
  • The challenges marketers face with iOS 14
  • How Metrick sees trends developing geographically
  • What holiday advertising might look like in 2021
  • How to build a growth marketing team

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News: Dear Sophie: When can I apply for my US work permit?

My husband just accepted a job in Silicon Valley. His new employer will be sponsoring him for an E-3 visa. How soon can I apply for my U.S. work permit?

Sophie Alcorn
Contributor

Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

Extra Crunch members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.


Dear Sophie,

My husband just accepted a job in Silicon Valley. His new employer will be sponsoring him for an E-3 visa.

I would like to continue working after we move to the United States. I understand I can get a work permit with the E-3 visa for spouses.

How soon can I apply for my U.S. work permit?

— Adaptive Aussie

Dear Adaptive,

Thanks for your question and congrats on the new employment opportunities for both you and your husband! Listen to my podcast episode on work permits, or Employment Authorization Documents (EADs) as they are officially known, to find out who qualifies for one, when you can apply for one, what you can do with one and how long it takes to get one.

You can apply for a work permit once you arrive in the United States in E-3 status (a professional work visa for Australians in the U.S.). It’s not possible to apply for a work permit at the consulate in Sydney when you apply for your E-3 visas. To do that, you will need to submit Form I-765 (Application for Employment Authorization) and supporting documents to U.S. Citizenship and Immigration Services (USCIS). If USCIS approves your application, you will not be able to start working until you receive the physical, plastic EAD card, which proves to prospective employers that you are authorized to work in the United States.

A composite image of immigration law attorney Sophie Alcorn in front of a background with a TechCrunch logo.

Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window)

How long will it take?

USCIS is currently backlogged and is taking about 11 months to process EAD applications. Since any mistakes or omissions in an EAD application can create further delays, I recommend hiring an immigration attorney to submit the application on your behalf. An immigration attorney can also discuss other options that could enable you to start working sooner.

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