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News: Revolut introduces salary advance feature in the UK

Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly. Right now, the

Fintech startup Revolut is launching a new feature called Payday. It is an alternative to credit card debt and short-term credit as it lets you unlock a portion of your wage early. If a business decides to integrate with Revolut, users can then access the feature from the financial super app directly.

Right now, the feature is limited to businesses based in the U.K., but the company plans to launch it in the European Economic Area and the U.S. as well. That’s the trick — Payday isn’t going to be available to everyone who receive their salary in their Revolut account through direct deposit.

Revolut has to plug into an employer’s payroll system first so that the company knows how much employees are earning at any point in time. The fintech startup says that employers don’t have to change their payroll system, though.

Once this is done, employees can unlock a portion of their earned pay whenever they want. Users can withdraw up to 50% of what they’ve earned in advance. While the feature is free for businesses, Revolut will charge a small, flat fee to users.

“We believe in the importance of making financial wellbeing accessible to all, and this includes focusing on the impact of financial stability on employees’ mental health,” Revolut co-founder and CEO Nik Storonsky said in a statement. “After the difficulties of the past year, the last thing employees need now is financial uncertainty and stress. It is important to move away from a situation where many are dependent on payday loans and expensive short-term credit, a reliance that is exacerbated by the monthly pay cycle.“

People who live paycheck to paycheck could leverage Payday for unplanned expenses. For instances, if you have to fix your car and it cannot wait until the end of the month, you can unlock some money right away.

This isn’t debt and doesn’t affect your credit score — it’s a portion of your salary, which means that you’ll receive less money at the end of the month when you get paid.

Even if you’re not using the salary advance feature, Payday lets you see how much you’ve earned so far this month. It’s going to be interesting to see whether a lot of companies adopt the feature. With millions of users in the U.K., chances are businesses are going to learn about Payday from their own employees.

News: A VC shares 5 things no one told you about pitching VCs

The success of a fundraising process is entirely dependent on how well an entrepreneur can manage it. Here are five pointers that founders should consider while pitching to venture capitalists.

Kunal Lunawat
Contributor

Kunal Lunawat is the co-founder and managing partner of Agya Ventures, a venture capital firm focused on proptech, travel, hospitality and the future of the built world.

The success of a fundraising process is entirely dependent on how well an entrepreneur can manage it. At this stage, it is important for founders to be honest, straightforward and recognize the value meetings with venture capitalists and investors can bring beyond just the monetary aspect.

Here are five pointers that founders should consider while pitching to venture capitalists:

Be honest and accurate

Raising a venture round is, in a way, a sales process, but any claims that could call into question a founder’s trustworthiness can result in a negative outcome rather than an investment.

As VCs, we cannot overemphasize how important it is that founders are transparent and upfront.

Here are a few select cases of such claims:

  • Overstating traction or revenues, which due diligence brought to light.
  • Concealing material attributes of the founding team — such as a co-founder’s commitment to the company, which at best was part time.
  • Speaking of committed investors who were about to wire money to the company, except they were still at the due diligence stage and eventually decided not to invest.

Investing in early-stage companies is often about making bets on people. As VCs, we cannot overemphasize how important it is that founders are transparent and upfront. It is critical to help establish the initial seeds of trust with a capital partner.

Further, most investors understand that things change — if there are any material shifts during the diligence process, communicating them promptly is an additional signal of maturity and uprightness. This will go a long way during the capital raise and beyond.

Know your BATNA

Founders often enter conversations with venture capitalists with a good handle on their product and the business. However, it’s common for entrepreneurs to falter at the negotiation stage, not knowing what their best alternative to a negotiated agreement (BATNA) is.

We have witnessed founders who mistake initial interest in the venture market for real commitment, and unreasonably hike their valuation, which results in them losing serious investors. We have also seen founders fail to ascribe the value serious VCs bring to the table and consequently hesitate to discount their valuation, only to later realize that the existing cap table lacks firepower.

The best way for founders to uncover their BATNA is to run an efficient process. This requires:

News: Deed pulls your employer’s charity and volunteer program into Slack to keep it front of mind

If your employer does any sort of charity donation matching, the system powering it might be… not great. Maybe it’s got an ancient interface; maybe it’s stuffed behind the VPN at some weird URL that takes a half hour to dig up every December when you remember there’s donation match money about to expire. Deed,

If your employer does any sort of charity donation matching, the system powering it might be… not great. Maybe it’s got an ancient interface; maybe it’s stuffed behind the VPN at some weird URL that takes a half hour to dig up every December when you remember there’s donation match money about to expire.

Deed, a company out of the ongoing Y Combinator S21 class, is looking to modernize the Corporate Social Responsibility (or CSR) concept – and do a bit more to keep it on your radar, while they’re at it.

Deed’s web interface does much of what you’d expect of a platform like this. It’ll handle employee donations and facilitate donation matching based on the employer’s rules, and it’ll offer up volunteer opportunities and track volunteer hours accordingly. And it’ll do it all with a clean interface that shouldn’t look out of place and dated in a modern company’s toolset.

But it also offers up plenty of neat stuff I haven’t seen the alternatives do — like a dating app-style swipe interface for narrowing down volunteering opportunities, deeper support for employee resource groups (you can follow employee groups within your company, and those groups can highlight organizations you might want to donate to), and tools to promote a bit of friendly who-can-volunteer-more competition between departments. Next up: Slack integration.

Image Credits: Deed

This week Deed is rolling out an early build of its Slack tie-in which, as company co-founder Deevee Kashi tells me, is meant to “meet employees where they are.”

While Deed’s web interface isn’t going anywhere, this new integration lets them beam many of the most commonly accessed features – plus a feed of any donation/volunteer activity your coworkers opt to share – right into Slack. Easier access, harder to forget.

Deed is a bit further along than many of the companies we see coming out of YC. Many of the teams we see in each YC batch are made up of a couple co-founders working from whatever desk space they can find; Deed, meanwhile, has 20+ employees across the world and a growing HQ in Berlin.

But it’s still early days for the company – much of its growth, and even its focus on the enterprise, is relatively new.

Deed’s hybrid in-person/remote team Image Credits: Deed

Deed started its life in 2016 as an app with a similar, but different, focus. Kashi, coming off a ten-year stint of running night clubs and, as he puts it, “throwing parties for a living”, decided it was time to retune.

“Externally people perceived my career as being successful. Internally, I was very… distraught,” he tells me. “I wasn’t really connecting to what I was doing and, by any means, it didn’t align with my values.”

“I took a step back and decided to volunteer, just kind of locally in the city. After trying to volunteer, I realized how cumbersome the process was – how antiquated all the technology was, and how nonprofits were struggling to engage with younger demographics.”

From that came the first iteration of Deed, then an app meant to help individuals find the right volunteer opportunities for them. They grew a community of tens of thousands of users around New York… then the big companies came knocking.

“Their employees came to them and said they really enjoyed using the app in their free time,” says Kashi. “They’d assumed we had an enterprise offering as well to help them with their employee volunteering and engagement programs.”

After a bit more tugging at that thread, the team decided to go all in on enterprise in 2020. They’d take what they learned about building a pretty, modern interface for individual volunteering and adapt it for the needs of these big teams. And it seems to be working; they quickly signed their first big customer with Adidas. Then came Sweetgreen, Airbnb, and Stripe. Kashi tells me that they’re now working with companies with anywhere from 250 employees to 100,000.

Deed raised $2M at the end of last year – and with the momentum behind its shift to enterprise teams, saw its own team grow quickly. “We couldn’t afford two desks.” says Kashi. “Now we’ve hired a bunch of people over the past year and a half. And I’d never met them in person! Then all of a sudden I walk up and the entire floor is ours. It’s really surreal onboarding people remotely, managing them for a year and a half… and then seeing them for the first time.”

News: Astra given regulatory green light for its first commercial orbital launch at the end of the month

Rocket launch startup Astra has received a key license from the Federal Aviation Administration, giving the green light for the company’s first commercial orbital launch at the end of the month. Astra CEO Chris Kemp tweeted the news on Thursday, adding that the launch operator license through the FAA is valid through 2026. The new

Rocket launch startup Astra has received a key license from the Federal Aviation Administration, giving the green light for the company’s first commercial orbital launch at the end of the month.

Astra CEO Chris Kemp tweeted the news on Thursday, adding that the launch operator license through the FAA is valid through 2026. The new license is a modification of the company’s previous launch license and applicable to the current version of the company’s rocket, a company spokesperson told TechCrunch.

Thrilled that @Astra now authorized to conduct launches out of Kodiak through 2026 with @FAA launch operator’s license! #AdAstra pic.twitter.com/QKn3mgRuwY

— Chris Kemp (@Kemp) August 19, 2021

The license, posted on the FAA’s website, authorizes Astra to conduct flights of its Rocket v3 launch vehicle from the company’s launch pad at the Pacific Spaceport Complex in Kodiak, Alaska. It expires on March 9, 2026. It clears the way for Astra to conduct a demonstration mission for the U.S. Space Force on August 27, as well as a second launch planned for some time later this year.

This is proving to be a big year for Astra. In addition to conducting its first commercial orbital launch on August 27, the company also starting trading on the NASDAQ under the ticker symbol “ASTR.” The company made its debut after merging with special purpose acquisition company Holicity at a pro-forma enterprise value of $2.1 billion.

Earlier this summer, Astra also acquired space-propulsion company Apollo Fusion. The acquisition gives a possible hint into how Astra is thinking about future launches, as electric propulsion systems are useful for moving objects from lower to higher orbits.

News: Role’s video role-playing platform makes a $2.75M charm attempt on the burgeoning tabletop world

Tabletop gaming is in the middle of a historic boom, despite recent restrictions imposed on in-person gatherings by COVID. The tools adopted by game masters and casual players to play remotely are powerful but not always the easiest to use or adopt. Role hopes to change that with a super-accessible video platform focused on the

Tabletop gaming is in the middle of a historic boom, despite recent restrictions imposed on in-person gatherings by COVID. The tools adopted by game masters and casual players to play remotely are powerful but not always the easiest to use or adopt. Role hopes to change that with a super-accessible video platform focused on the social aspect of role-playing games, and it has raised a $2.75 million seed round to do so.

It’s hard to say what has powered the incredible growth of the tabletop gaming space, which just a few years ago was perceived as a sleepy realm of basement-dwelling nerds, a niche within a niche. But it was a different kind of sleeping giant, one that has proven to be immensely diverse, valuable, and surprisingly tenacious in the face of the pandemic.

Some platforms, like Roll20 and Fantasy Grounds, have seized on this opportunity to provide online video collaboration platforms for playing games like D&D, strategy titles, and many others of the general tabletop type.

But Logan Dwight and Ian Hirschfeld, co-founders of Role, felt these approaches tended to emphasize the mechanics over what they felt was a more important aspect of RPGs.

“We asked ourselves, why is it that people, when they have all these options, choose to play D&D on the internet? And what we figured out is, it’s the people,” said Dwight. “The game lives in the minds of the people, a shared social experience. It’s about the conversation, the face-to-face interactions.”

This is the start of something new, they said — and big. As an analogue, they referred to the social gaming explosion a decade ago.

“People always find a way to play. Because we had social media platforms and mobile phones then, we were socializing over those — so we naturally looked for ways to play over them,” they said. “We’re at another one of those inflection points now with the explosion of online video and the creator economy in gaming. Video has become so good and so ubiquitous it’s becoming the dominant way people socialize — and then what naturally happens is we look for a way to play. And it turns out the, answer was right under our noses, and it’s been there since the ’70s: it’s role playing, a game that takes the form of conversation.”

Role was designed from the ground up to smooth out and simplify how the complex mechanics of these games are implemented, putting the players visually and cognitively at the forefront. After all, when you’re playing D&D or another game around the table, you spend most of your time looking at each other, not the game board — because it’s a game and you’re having fun with each other, right?

Of course, it’s easy to say the face-to-face interactions should be front and center, but the truth is these games are mechanically complicated and involve sheets, dice, maps, rulebooks and so on. Dwight said the problem here is not so much keeping them always in view, but making them simple and intuitive to access and involve in gameplay.

Take a character sheet with some attributes and associated bonuses, and a standard combat encounter. Depending on how well the GM has prepped, it may be that the dice rolls need to have bonuses added manually, and the results compared manually to the defending monster’s sheet. But if the bonuses, the dice, and the monster’s stats are all aware of one another, you know if you hit as soon as the die is cast.

Screenshot of Role's interface for building game systems.

It looks complicated, but compared with scripting it manually, this is a cakewalk.

This can be done in many games but it’s not always easy, and becomes much harder the further one goes from official, canon rulebooks. House rules are common enough, but these days there are entire variant game types being built out from open-license rulebooks that have no “official” support from a major gaming company like Wizards. Prepping a game for play online might be weeks of work that’s relatively technically demanding.

Some GMs and creators take pleasure in the intricacy of these systems, but as Dwight pointed out, the expansion of the community means more people are coming to this from non-gaming and non-tech backgrounds.

“The core skills people are bringing to this are that they’re a writer or something. So the ability to create together needs to be really easy and really powerful,” they said. “We want to give people like… a Squarespace for tabletop RPGs. It’s a WYSIWYG editor, the RPG equivalent of a box of LEGO. You can make a whole set of templates for whatever game you want to run, tweak sheets, create animations, all without having to touch code, and you can share it easily.”

The platform has already seen major growth in user-created campaigns and variants for games designed to be built upon, like Mörk Borg and Lancer, with thousands being shared.

Role first raised money via Kickstarter (though the idea goes back to 2015), then via some angel funding, but this seed round brings in their first proper VC money. The $2.75M round is co-led by Konvoy and London Venture Partners, with whom Dwight said they were pleased to find willing partners who understood the opportunity perfectly. That’s a feat, considering the skyrocketing value and diversity of tabletop has taken even industry veterans by surprise.

The money is going towards effecting the lessons the company has learned from its early adopters, with a renewed focus on ease of use, accessibility, and extensibility. As for making money, the company intends to do so through a marketplace for games and scenarios, and for premium features like extra online storage and so on. But for regular users who just want to play with friends, Role is free to sign up for and use right now.

News: Twitter is testing a feature that puts users’ Revue newsletters on their profiles

This January, Twitter acquired the newsletter platform Revue, but until now its integration into Twitter has been minimal; sometimes when you write Twitter threads, you’ll be greeted with a “Hello, wordsmiths” message that tells you about its newsletter tools). Starting today, Twitter is testing a feature that brings Revue newsletters more prominently into the Twitter

This January, Twitter acquired the newsletter platform Revue, but until now its integration into Twitter has been minimal; sometimes when you write Twitter threads, you’ll be greeted with a “Hello, wordsmiths” message that tells you about its newsletter tools).

Starting today, Twitter is testing a feature that brings Revue newsletters more prominently into the Twitter experience. Some users on web and Android will be able to see writers’ Revue newsletters appear on their profile beneath their follower counts. If you click subscribe, you’ll be prompted to read a sample issue or subscribe using the email address connected to your Twitter account. Revue says this feature will also roll out on iOS soon.

It’s here 🧡

Today, we’re starting to test a feature that allows people to subscribe to your Revue newsletter directly from your Twitter profile.

It’s available to all Revue creators immediately. To start though, your newsletters will show only for a test group on Twitter. pic.twitter.com/YDa1aOGeLM

— Revue (@revue) August 19, 2021

The newsletter market is heating up — Medium and Quora have both recently released new monetization structures, Substack is currently valued at $650 million, and Facebook is curating a slate of flashy newsletters on Bulletin. Even Tumblr is attempting to cash in on paywalled writing, though its user base isn’t thrilled. But with its new front-and-center integration on Twitter profiles, Revue may pick up steam too.

“One of the reasons I switched to using their platform was the potential to link my newsletter with my Twitter feed & make it easier for my followers to subscribe,” Revue writer Jewel Wicker tweeted. “Happy the rollout has begun.”

Revue takes a 5% cut of creators’ earnings, plus a standard 2.9%, plus $0.30 processing fee. So, if someone subscribes to your Revue newsletter for $5, you’ll take home $4.30. Comparatively, Substack takes 10% of writers’ revenue plus processing fees.

News: When VCs turned to Zoom, Chicago startups were ready for their close-up

Chicago is an outlying benefactor from accelerating venture capital activity and the rise of remote investing.

Chicago’s startup scene is finally getting the attention it long felt it deserved.

By now it’s common knowledge that 2021 is shaping up to be a breakout year for the startup and venture capital worlds, surpassing years of strong results in a long-term bull market for tech-focused business upstarts. But no boom is equally distributed.

Different markets are seeing differing amounts of activity, driven in part by their startup ecosystem’s maturity and the ease with which external capital can be deployed. African startups will set fresh venture capital records this year, for example. But markets closer to the leading hubs of venture capital are seeing even stronger results, as Latin America demonstrates. China’s venture capital market, meanwhile, is easing as others accelerate.


The Exchange explores startups, markets and money.

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Even inside the United States, there is divergence in how individual markets are performing. Chicago is an outlying benefactor from accelerating venture capital activity and the rise of remote investing. Data collected by CB Insights, for example, indicates that Chicago’s ability to attract venture funds has risen to new heights in the first half of the year.

While we anticipated Chicago might do well in a generally warm environment for startup investment, its results were better than we expected. To more fully understand just what is going on in the Windy City, The Exchange corresponded with M25, a Midwest-focused venture capital fund; Moderne Ventures’ partner Liza Benson (fresh off her firm raising $200 million for its second fund); Scott Kitun, of the Technori community and investing platform that has roots in the city; and Brian Barnes, CEO of M1 Finance, a local unicorn in the fintech space that TechCrunch has covered extensively.

The picture that emerges from their comments is one of a city long underfed in capital terms leaning into a changing investing market. And the investors don’t expect that the back half of the year will be too different from the first. That means Chicago-based startups are in the middle of their best year of raising capital ever. Let’s talk about how that came to be.

A venture capital run for the ages

The pace at which Chicago-area startups have raised capital reached a new, high plateau starting in the second half of 2020. In historical terms, data indicates that Chicago was a beneficiary of an accelerated pace of venture investment that took hold globally once investors, concerned that startup growth could slow, shrugged off initial COVID shocks. 

In short, startups were not affected as many feared, with many young tech companies actually accelerating during the pandemic’s first quarter of lockdowns, as many traditional businesses had to lean into software solutions and other services that startups sold.

The early boost to Chicago’s venture totals in the final two quarters of 2020 was easily bested in the first quarter of 2021. And then the second quarter of this year crushed that record.

News: Ample raises $160M to scale its battery swapping service

Instead of an EV battery being something that needs to be recharged, like an iPhone, Ample wants to turn them into things that can be swapped out, like batteries in a digital camera.

San Francisco-based Ample has raised a $160 million Series C to scale its battery swapping service, the largest round yet for the 8-year-old startup that wants to completely rethink how we use electric vehicles.

Ample’s approach is relatively straightforward: Cars equipped with the company’s modular battery pack can drive into one of Ample’s automated charging pod locations and swap out their depleted batteries for ones that are fully charged. The swapped-out batteries are then recharged in the pod and ready to be reinserted into another vehicle.

Although Ample’s battery swapping model is simple on paper, the company is proposing thinking about EV batteries in a completely different way. Instead of an EV battery being something that needs to be recharged, like an iPhone, Ample wants to turn them into things that can be swapped out, like batteries in a digital camera.

This latest nine-figure funding round is a sign that investors are paying attention. The internationally funded Series C was led by Moore Strategic Ventures with participation from PTT, a Thai state-owned oil and gas company, and Disruptive Innovation Fund. Existing investors Eneos, a Japanese petroleum and energy company, and Singapore’s public transit operator SMRT also participated. Ample’s total funding is now $230 million.

“We realized that there’s this big elephant in the room with electric vehicles and [it’s that] nobody is that excited about spending an hour, two hours or three hours charging their vehicle,” Ample co-founder John de Souza said.

Industry’s response has been to develop technology like DC fast chargers, which have managed to shave charging time down to only 20 or 30 minutes. But de Souza said that improvements in charging time don’t get rid of fundamental problems: “[Fast charging] generates a lot of heat; the grid doesn’t support it,” he said. “Even if you could have batteries you charge in five minutes, you’d need chargers that were massively powerful and you’d need power plants around every corner to do it.”

Ample is currently focused on fleets – it operates five battery swapping stations in the Bay Area for participating Uber drivers, and it also locked in a partnership with Sally, an EV rental company for taxi and last-mile deliveries in New York City. But the company sees its battery swapping service as suitable for consumers, as well. Ample co-founder Khaled Hassounah said battery swapping could also be useful for personal consumers who don’t have a good charging solution available to them, like people who live in apartment buildings. “We’re really a lot more focused on the cars that are coming on the road” rather than EVs that have already been manufactured, Hassounah added.

Image Credits: Ample. Ample co-founders John de Souza and Khaled Hassounah. 

The company says that its modular system means that drivers only need to carry around as much battery as they need. For Ample, that means less battery waste and less weight in the vehicle.

Much of Ample’s vision relies on buy-in from automakers. For example, the company is imagining that when a person goes to buy a car, the OEM could offer either a fixed battery option or a vehicle equipped with an Ample battery system.

Ample says it has validated its approach with 10 different car models by working directly with OEMs, and that none of them have required making modifications to the vehicle. That doesn’t mean that there are no interfaces between the battery and the car that need to be altered — there are things like voltage cables or a cooling line, for example — but that the actual architecture of EVs is simpler than one might think.

“The marketing departments at the OEMs want to tell you that … ‘This is a super-duper battery that is very well integrated with the car; there’s no way you can separate it,’” Hassounah said. “The truth of the matter is they’re built completely separately and so true for almost — not almost, for every battery in the car, including a Tesla.

“Since we’ve built our system to be easy to interface with different vehicles, we’ve abstracted the battery component … from the vehicle,” he added.

Ample said it’s working with five different OEMs right now, “some of the largest OEMs out there,” de Souza said, though he declined to specify which ones. He added that growing demand from fleets goes hand in hand with conversations with OEMs, which are eager to sell vehicles.

It could be an attractive proposal because much of the cost of an electric vehicle is its battery system. The market has seen a version of this idea from Chinese automaker Nio, which offers consumers the option of purchasing a vehicle with or without a battery (for the latter option, Nio leases the batteries). Under the leasing option, drivers shave ¥70,000 ($10,800) off the price of a vehicle. Nio has already completed more than 2.4 million battery swaps for Chinese drivers, founder William Li said in May.

Looking to the future, Ample is focused purely on scaling: deploying with large customers in new cities. Interestingly, de Souza added that the company is getting a lot of interest from governments who want to shift to electric transportation but don’t have the requisite charging infrastructure.

“The question is, how can we get more miles and be electric, rather than build more infrastructure?” Hassounah said. “If you go and deploy a million fast chargers and no one uses them, we haven’t achieved anything.”

News: 4 common mistakes startups make when setting pay for hybrid workers

Regardless of your startup’s stance on the topic, having a consistent compensation philosophy that you apply to your evolving workplace has a unicorn-sized influence on important growth metrics.

Thanh Nguyen
Contributor

Thanh Nguyen is the CEO and co-founder of OpenComp.

Leaders and senior management everywhere are grappling with how (or not) to bring employees back to the office. It’s a high-stakes decision: Fifty-eight percent of workers said they will look for new jobs if they can’t work remotely, according to a FlexJobs survey.

An often overlooked and/or cobbled-together piece of this puzzle is compensation. And inside the transition to hybrid work, compensation planning encapsulates a cacophony of nuances for founders, people leaders and compensation experts.

Here are just a few new questions this group needs to answer:

  • Do we adjust salaries for people who have moved to different regions?
  • Do we alter pay for employees performing the same role, with the same title, when one is remote and the other is in-office?
  • How can we educate geographies that aren’t as familiar with the value of equity as is, say, Silicon Valley?

As we’ve seen in recent weeks, the answers to these questions are different for us all. Google employees who work from home may experience a pay cut. Adobe workers can self-select what days they work remotely, up to 50% of the time, with no salary impact. Meanwhile, LinkedIn just loosened its policy, allowing employees to work from home permanently.

The first step in developing a compensation plan — regardless of your company’s stance on distributed work — is determining how your team’s pay compares with the market.

Regardless of your startup’s stance on the topic, having a consistent compensation philosophy that you apply to your evolving workplace has a unicorn-sized influence on important growth metrics: attracting and keeping top talent, as well as creating a culture of trust and performance.

As the CEO of a compensation intelligence company, I see four common mistakes that startups commit when compensation planning that hinder successful remote or hybrid workforces. Here are the ways to sidestep them.

1. Using subpar data for competitive analysis

The first step in developing a compensation plan — regardless of your company’s stance on distributed work — is determining how your team’s pay compares with the market. To understand market rates, you need one thing: data.

If you’re moving from a strictly office-based environment to a hybrid model, 2019 data won’t work. While it’s tempting to search for free data online or use survey data that your company has purchased in the past, both approaches have risks. Traditional compensation survey information is stale, limited and often not verified. And spreadsheets are hyperprone to error and security risks because they involve manual, and often super laborious, work.

In a world that’s still reacting to a pandemic, only fresh, real-time, accurate benchmarks and pay ranges are sufficient. Both must reflect aggregated information about what others in your segment are paying employees — by experience level, role, department, geography, industry and company size.

For example, technology startups need different data sources than global financial services organizations. Both need information geared toward companies of a similar size and stage. Software engineer salaries need to reflect those of similar roles, with nuances for those that specialize in machine learning, data science, etc.

You’d be shocked how often self-reported data on free websites is inaccurate and unverified. As you seek a credible intelligence source for your compensation data, a data source must:

News: Paladin publicly launches Knighthawk, a first response drone for cities

Emergency response is a time-sensitive business. When fires burn or a driver crashes their car, seconds can mean the difference between saving lives and watching a situation spiral rapidly out of control. For fire and police departments, getting teams on site can be challenging, what with the vagaries of traffic and bad routing. Houston-headquartered Paladin

Emergency response is a time-sensitive business. When fires burn or a driver crashes their car, seconds can mean the difference between saving lives and watching a situation spiral rapidly out of control. For fire and police departments, getting teams on site can be challenging, what with the vagaries of traffic and bad routing.

Houston-headquartered Paladin is a startup building a custom drone hardware and software solution for cities to be able to respond to emergencies faster and with better data. After years of development, the company is publicly unveiling its Knighthawk and Watchtower products.

The Knighthawk is a custom-made drone designed for the specific needs of emergency response personnel. It comes complete with two cameras — one 10x zoom optical and one thermal — to provide the best video feeds on a developing situation at both day and night with only a half second latency. Importantly, the drone has a time range of 55 minutes and can travel multiple miles away to reach a site, according to the company. Launch time can be as short as a few seconds from when a 911 call comes in.

Paladin Drones’ Knighthawk operating during the day. Image Credits: Paladin Drones

To manage the drones and watch the video feeds, operators use the company’s Watchtower software (available as an app) to place a pin on a map to direct the drone to the likely site of an emergency. Once there, uploaded video feeds will display in the app as well as in a 911 center’s existing computer-aided dispatch systems, a topic we covered quite a bit in our RapidSOS EC-1 from a few weeks ago.

Paladin Drones’ Watchtower allows operators to direct, manage and watch video from Knighthawk drones. Image Credits: Paladin Drones.

The public launch is a huge step forward for the company, which TechCrunch last profiled in 2019 as it was emerging from Y Combinator with a $1.3 million seed from the likes of Khosla, Correlation Ventures, and Paul Buchheit. Back then, the focus was on building software to integrate with an off-the-shelf DJI drone. Paladin was experimenting with a beta Android app where an operator could place a pin on a map and direct the drone to a site.

Yet, that model proved insufficient for the task. CEO and co-founder Divy Shrivastava said that as the company developed its product, it learned it needed to own the hardware stack as well. “The drones that we were using weren’t purpose-built for automation,” he said. “We ended up coming up with our own communication technology for our drones … so that we won’t lose connection.”

CEO and co-founder Divy Shrivastava. Image Credits: Paladin Drones.

Since the company’s founding in 2018, it has responded to about 1,600 emergencies, according to its own internal data. The company has spent prodigious hours with departments in two locations — Memorial Villages in Houston and Orange Township in Ohio — responding to a handful of calls per day at specific hours.

That restriction hints at what has been one of the toughest challenges for the drone startup: regulations. The FAA has put in place strict rules around visual line of sight for operators of drones. In order to realize its vision of a completely seamless and easily deployed system, Paladin has had to collect extensive data and present it to the FAA to get operating waivers, which the agency offers through a “First Responder Tactical Beyond Visual Line of Sight” exception. So far, it has secured these types of waivers for the two cities it works with, and Shrivastava is confident that the company has developed a repeatable process for any new cities that want to purchase its products.

Installation is relatively simple, according to Shrivastava. The drones themselves can be placed anywhere, even “a parking lot,” and are often stationed at a police department or firehouse. No special hardware or sensors or guidelines need to be installed in the city for the drones to process the terrain or understand their surroundings. Some software integration is required to connect drones into the computer-aided dispatch system used by 911 call takers.

With the public launch and more proof points on the board, the company is focusing on ramping up sales and “our long-term goal is to have every single fire, police and first response agency use us,” Shrivastava said. The team has expanded to about eight, although the company’s other co-founder, Trevor Pennypacker, departed in late 2019, and now works at Tesla.

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