Tag Archives: Blog

News: Jim Belushi is chasing the magic in cannabis

I don’t think Jim Belushi was high while we talked on Zoom this week. Instead of a joint, he was puffing on a cigar, but he was still happy and smiling. “I have my brother’s face on it. I have the Blues Brothers brand. It’s got to be good shit, man.” Jim Belushi was telling

I don’t think Jim Belushi was high while we talked on Zoom this week. Instead of a joint, he was puffing on a cigar, but he was still happy and smiling.

“I have my brother’s face on it. I have the Blues Brothers brand. It’s got to be good shit, man.”

Jim Belushi was telling me about his weed, specifically about the small 0.7 gram pre-rolls he sells — the perfect size for the post-Covid era, when passing a joint to a friend is likely discouraged. Belushi started his farm with 48 cannabis plants in 2015. Now, six years and one pandemic later, there are 200 plants in each of his four high-tech greenhouses along the Rogue River in southern Oregon.

“I’m always chasing magic,” Belushi said.

We were talking about his new greenhouses supplied in part by GrowGeneration, but Belushi cannot stop gushing about the benefits of cannabis. More than just a celebrity with a weed brand, Belushi is a fully-committed cannabis advocate.

“It’s magic when I do the Blues Brothers,” he said. “And I chase magic on a film set when I’m acting, and chase magic when I’m singing. I mean, I’m always chasing magic, and I’m going to do this cannabis business because there’s magic here.”

Belushi is among a recent group of celebrities diving deep into the world of cannabis. And he’s not shy about it. Look at his social media footprint. Belushi’s Twitter name is ‘Cannabis Farmer: Jim Belushi‘. His TikTok and Instagram feeds are full of clips from his farm. He even has a TV series on Discovery about his farm: “Growing Belushi.”

Cannabis is Belushi’s life right now. He even recently turned down a movie role because filming would take place in the fall, during harvest time. His agent didn’t approve of passing on the opportunity, and told Belushi he represents actors, not farmers. But according to Jim, cannabis farming is more important than acting.

“I’m a cross between Elmer Fudd and Bill Murray,” Belushi confesses. Like Murray in Caddyshack, Belushi is just good enough to be dangerous. According to Belushi, he’s been on the farm more than 200 days during the last year. In his eyes, this is what sets his apart from other celebrity cannabis operations.

Growing cannabis is more than a branding play for Belushi. It’s clear he’s not just trading his credibility and body of work for a hefty check; he’s on the farm, working the land, and tending to the bud he’s dealing.

“My hand is in the soil,” he said, explaining he works the land, ensuring the pH is correct, and that the soil is at the right temperature. He’s curing, smelling, testing, and tasting his crop.

“You know, my name is on it, my brother’s name is on it, and I’m not just throwing it out there,” Belushi said. “I’m really farming, and I’m loving this profession.”

Image Credits: Belushi Farms

Helping Mother Nature

Like many cultivators, Belushi turned to technology to combat pests and increase yields. A team from GrowGeneration outfitted his farm with the goods to mitigate pests and improve the quality. He says what they were selling for $1,000 a pound a year ago is now going for $2,200 a pound, and points to the improved growing facility as a significant factor.

Jeremy Corrao, VP of Commercial Operations at GrowGeneration, says the cannabis industry benefits from a range of new technologies that enable operators to see a faster return on their investments. He points to new lighting technology as an example.

“We’re seeing the most movement in people moving from energy-inefficient solutions into energy-efficient solutions,” Corrao said, explaining that the industry still has doubters who are hesitant of new technology. Yet, he says it’s lowering the cost of goods and improving ROI.

Corrao explains that functions and practices found throughout the agriculture industry are finally making their way to cannabis cultivators such as Belushi.

Yet even with new greenhouses complete with automated systems, some growers like Jim Belushi still rely on nature for help.

“[Belushi Farm] is in Southern Oregon with 192 days of sun,” Belushi said, stressing his love for the area. Moreover, his new greenhouses rely on the Oregon sun and still offer localized climate control, and pest management, which means he can have four growth cycles per year. This hybrid approach forgoes a closed climate system in favor of something that works within Belushi’s world.

More than branding

As legalization draws closer, cultivators are constantly look for an edge amid more competition — better soil, quicker harvest cycles, new strains — and Belushi has his name.

“Has the Belushi name always been associated with pot?” I ask Jim. I’m thinking back to the days of his departed brother, John Belushi, the always-on, always-authentic star of the 1970’s and ’80s. After all, substances were imbibed, smoked, and regularly snorted in those days, and John Belushi was a manic presence in much of 1980s comedy.

“Not pot, but fun”, he says after some thought. Jim gives credit to his brother John for starting the Belushi brand in 1975. To him, the Belushi brand represents “trying to make people feel good with a sense of humor or entertainment.”

Look at the brands from Belushi Farm: Blues Brothers, Belushi’s Secret Stash, and Captain Jack, named after the O.G. weed dealer of the early days of Saturday Night Live. Each of these brands offers strains true to Jim Belushi’s perspective on his name, too. There’s hardly anything offered with THC levels that would be considered gas (aka, stuff that gets you really high), but each offers respectable characteristics. That’s by design.

“My stuff has more to do with great blends of terpenes and THC,” Belushi said. “[This is] to create more of a medicinal effect that sends someone on a pathway to healing.” He added, laughingly, he has a couple of strains hasn’t smoked. He’s scared of them. Likewise, he looks at some of the strains offered by other celebrities as ready to rip and roar thanks to sky-high levels of THC. He hasn’t tried those either.

I ask why he thinks it’s exciting and newsworthy when celebrities launch a cannabis brand. Belushi is hardly the only one doing it. Seth Rogen and Evan Goldberg just launched Houseplant in the U.S., a cannabis brand offering dried flower and house goods. There’s Jay-Z with his upscale cannabis brand, Monogram. Even Martha Stewart is hawking cannabis, albeit in CBD gummy form.

Belushi is hesitant to compare his product to his celebrity competitors (probably related to his self-identification as a cultivator), but points to Snoop and Willy’s original celebrity pot brands as paving the way for him and others.

The failed war on drugs

New regulations are quickly changing the cannabis industry. As more states decriminalize and regulate cannabis, different industry segments are looking to the federal government to loosen its hold on the cannabis business.

For Belushi, access to traditional banking services would immediately impact him and the industry as a whole. And it could be coming soon: Two weeks ago, the U.S. House of Representatives passed a banking bill with broad bipartisan support.

“This is a very exciting time in the cannabis world,” Belushi said. “People have seen changes in others [who partake in cannabis]. Tumors are shrinking, seizures are stopping, people are sleeping, and people are getting better. It’s interesting because, no matter if you’re conservative or liberal or old or young, everybody knows someone that has suffered deeply.”

“Cannabis is not a gateway to drugs,” Belushi said. “It’s a pathway to healing.”

And yet, there are countless individuals in prison because of this so-called pathway to healing. Jim Belushi is working on that, too.

“Get them out,” Jim shouted when I talked about the Last Prisoner Project’s current goals. He’s referring to those incarcerated for crimes involving cannabis. To Belushi, who helps the cannabis activist group, this is a serious effort.

“It’s time to shift some energy to real justice,” Belushi said with deep passion. “Look at the Last Prisoner Project. It’s really a symbol that the war on drugs is over. It’s done. It’s ruined. The war on drugs ruined us. It ruined black and brown communities, which were especially hard hit.”

“Don’t get me started,” Belushi warned, as he laughed and calmed down.

The Last Prisoner Project was founded in 2019 by Steve DeAngelo and seeks cannabis criminal justice reform. The organization is made up of activists, attorneys, advocates, and others, including Belushi, who is an advisor. It’s clear he has a deep respect for the Last Prisoner Project’s founder and leader, Steve DeAngelo. “There’s no better hustler in the world than Steve DeAngelo,” he said. “Man, he’s just relentless, and it’s beautiful to watch.”

Belushi says the project is riding a wave right now, and they’re finding more states’ Attorneys General are answering their calls. But there are still needs, he says. The project can always use capital, as a lot of the work is done pro bono. And there’s a constant need for people to write letters and sign petitions — all of which are readily available on the project’s website here.

“And it would be great if people in the [cannabis] industry hire those that get out,” Belushi said, calling on the industry to lean in and help “these men and women who have been incarcerated for so long.”

He’s not just suggesting it as a course of action for others; he’s actively helping raise capital, too. The Blues Brothers is hosting a fundraiser at M.J. Unpacked this coming October in Las Vegas. Belushi, actor, comedian, weed farmer, and now a member of the Blues Brothers beamed as he spoke about performing for the Last Prisoner Project.

“We’re gonna have a big party there,” he said, “and we’re going to raise lots of funds, too.”

Because everybody needs someone to love.

News: Click Studios asks customers to stop tweeting about its Passwordstate data breach

Australian security software house Click Studios has told customers not to post emails sent by the company about its data breach, which allowed malicious hackers to push a malicious update to its flagship enterprise password manager Passwordstate to steal customer passwords. Last week, the company told customers to “commence resetting all passwords” stored in its flagship

Australian security software house Click Studios has told customers not to post emails sent by the company about its data breach, which allowed malicious hackers to push a malicious update to its flagship enterprise password manager Passwordstate to steal customer passwords.

Last week, the company told customers to “commence resetting all passwords” stored in its flagship password manager after the hackers pushed the malicious update to customers over a 28-hour window between April 20-22. The malicious update was designed to contact the attacker’s servers to retrieve malware designed to steal and send the password manager’s contents back to the attackers.

In an email to customers, Click Studios did not say how the attackers compromised the password manager’s update feature, but included a link to a security fix.

But news of the breach only became public after after Danish cybersecurity firm CSIS Group published a blog post with details of the attack hours after Click Studios emailed its customers.

Click Studios claims Passwordstate is used by “more than 29,000 customers,” including in the Fortune 500, government, banking, defense and aerospace, and most major industries.

In an update on its website, Click Studios said in a Wednesday advisory that customers are “requested not to post Click Studios correspondence on Social Media.” The email adds: “It is expected that the bad actor is actively monitoring Social Media, looking for information they can use to their advantage, for related attacks.”

“It is expected the bad actor is actively monitoring social media for information on the compromise and exploit. It is important customers do not post information on Social Media that can be used by the bad actor. This has happened with phishing emails being sent that replicate Click Studios email content,” the company said.

Besides a handful of advisories published by the company since the breach was discovered, the company has refused to comment or respond to questions.

It’s also not clear if the company has disclosed the breach to U.S. and EU authorities where the company has customers, but where data breach notification rules obligate companies to disclose incidents timely. Companies can be fined up to 4% of their annual global revenue for falling foul of Europe’s GDPR rules.

Click Studios chief executive Mark Sandford has not responded to repeated requests for comment by TechCrunch. Instead, TechCrunch received the same canned autoresponse from the company’s support email saying that the company’s staff are “focused only on assisting customers technically.”

TechCrunch emailed Sandford again on Thursday for comment on the latest advisory, but did not hear back.

News: IBM is acquiring cloud app management firm Turbonomic for up to $2B

IBM today made another acquisition to deepen its reach into providing enterprises with AI-based services to manage their networks and workloads. It announced that it is acquiring Turbonomic, a company that provides tools to manage application performance (specifically resource management), along with Kubernetes and network performance, part of its bigger strategy to bring more AI

IBM today made another acquisition to deepen its reach into providing enterprises with AI-based services to manage their networks and workloads. It announced that it is acquiring Turbonomic, a company that provides tools to manage application performance (specifically resource management), along with Kubernetes and network performance, part of its bigger strategy to bring more AI into IT ops, or as it calls it, AIOps.

Financial terms of the deal were not disclosed but according to data in PitchBook, Turbonomic was valued at nearly $1 billion — $963 million, to be exact — in its last funding round in September 2019. A report in Reuters rumoring the deal a little earlier today valued it at between $1.5 billion and $2 billion, and a source tells us the figure is accurate.

The Boston-based company’s investors included General Atlantic, Cisco, Bain, Highland Capital Partners, and Red Hat. The last of these, of course, is now a part of IBM (so it was theoretically also an investor), and together Red Hat and IBM have been developing a range of cloud-based tools addressing telco, edge and enterprise use cases.

This latest deal will help extend that further, and it has more generally been an area that IBM has been aggressive in recently. Last November IBM acquired another company called Instana to bring application performance management into its stable, and it pointed out today that the Turbonomic deal will complement that and the two technologies’ tools will be integrated together, IBM said.

Turbonomic’s tools are particularly useful in hybrid cloud architectures, which involve not just on-premise and cloud workloads, but workloads that typically are extended across multiple cloud environments. While this may be the architecture people apply for more resilience, reasons of cost, location or other practicalities, the fact of the matter is that it can be a challenge to manage. Turbonomic’s tools automate management, analyse performance, and suggest changes for network operations engineers to make to meet usage demands.

“Businesses are looking for AI-driven software to help them manage the scale and complexity challenges of running applications cross-cloud,” said Ben Nye, CEO, Turbonomic, in a statement. “Turbonomic not only prescribes actions, but allows customers to take them. The combination of IBM and Turbonomic will continuously assure target application response times even during peak demand.”

The bigger picture for IBM is that it’s another sign of how the company is continuing to move away from its legacy business based around servers and deeper into services, and specifically services on the infrastructure of the future, cloud-based networks.

“IBM continues to reshape its future as a hybrid cloud and AI company,” said Rob Thomas, SVP, IBM Cloud and Data Platform, in a statement. “The Turbonomic acquisition is yet another example of our commitment to making the most impactful investments to advance this strategy and ensure customers find the most innovative ways to fuel their digital transformations.”

A large part of the AI promise in the world of network operations and IT ops is how it will afford companies to rely more on automation, another area where IBM has been very active. (In a very different application of this technology — in business services — this month, it acquired MyInvenio in Italy to bring process mining technology in house.)

The promise of automation, meanwhile, is lower operation costs, a critical issue for managing network performance and availability in hybrid cloud deployments.

“We believe that AI-powered automation has become inevitable, helping to make all information-centric jobs more productive,” said Dinesh Nirmal, General Manager, IBM Automation, in a statement. “That’s why IBM continues to invest in providing our customers with a one-stop shop of AI-powered automation capabilities that spans business processes and IT. The addition of Turbonomic now takes our portfolio another major step forward by ensuring customers will have full visibility into what is going on throughout their hybrid cloud infrastructure, and across their entire enterprise.”

News: U.S. video game spending increased 30% in Q1

Even as signs of hope for life after the pandemic have begun to emerge here in the U.S., increases in video game spending continue. There’s no doubt that much of last year’s big numbers were driven by stay-at-home requirements in much of the country and the world. All said, U.S. spending on the industry increased

Even as signs of hope for life after the pandemic have begun to emerge here in the U.S., increases in video game spending continue. There’s no doubt that much of last year’s big numbers were driven by stay-at-home requirements in much of the country and the world. All said, U.S. spending on the industry increased 27% for 2020.

There remains a broader question, however, around whether this momentum can maintain, as people start to, you know, leave the house more. For now, at least, things are continuing to look rosy for the industry. NPD noted this morning that U.S. spending on the category jumped 30% y-o-y for Q1 2021 to $14.92 billion.

When we break the number down a bit, however, it becomes clear that the driver goes beyond mere pandemic entertainment. Content was up 25% for the quarter, accessories jumped 42% and hardware went up 82%.

The motivator behind that last figure should be immediately obvious to anyone who follows the industry with any among of interest. Where Nintendo’s Switch dominated the conversation for most of 2020, Sony and Microsoft both launched their next gen consoles late-last year.

“While we are still seeing elevated rates of both engagement and spending resulting from changes in consumer behavior driven by the pandemic, we are also seeing cyclical gains from the November launches of both the PlayStation 5 and Xbox Series consoles,” analyst Mat Piscatella said in a release The growth driven by these new platforms, combined with gains experienced in mobile, PC and VR content spending, as well as the continued strength of Nintendo Switch, have pushed the market to new highs.”

News: Fintech startups set VC records as the 2021 fundraising market continues to impress

The first three months of the year were the most valuable period for fintech investing, ever. Where did the fintech venture capital market push the most money in Q1, and why? Let’s dig in.

While waiting for full first-quarter venture capital results for fintech startups to drop, we knew that they were going to be outsized. The Exchange previously explored the pace at which huge venture rounds were invested into the startup niche, noting that by mid-March the fintech market had already recorded a record number of $100 million rounds.

But the largest venture capital rounds are only part of the fintech investing picture, so we were looking forward to getting a deeper look into what happened in the critical startup sector more generally. We’ve now got the data, so today we’re digging in with both hands.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday.


Per a CB Insights compilation of Q1 2021 fintech venture capital data from around the world, the first three months of the year were the most valuable period for fintech investing, ever. Somewhat shockingly, the first quarter beat the infamous second quarter of 2018, when Ant Group raised a $14 billion round, so skewing the category’s longitudinal data that some analyst groups simply discount it for analytical purposes.

It wasn’t necessary this time: The 614 tracked fintech deals in Q1 were worth a total of $22.8 billion, per the report, enough to set an all-time high, Ant Group be damned. Per CB Insights, the quarter’s fintech VC deal volume rose a modest 15% compared to the year-ago quarter, while VC dollar volume in the sector shot 98% higher over the same interval.

The boom in funding was a global affair, as we’ll get into shortly. We’re also going to chat sub-sectors in the fintech world, parsing where there’s the most venture activity to track, and, critically, where VCs are pushing — or pulling back — their attention and capital.

So, where did the fintech venture capital market push the most money in the first quarter, and why? We’ll be chatting data as we go, but The Exchange also enlisted VCs from three continents who have made fintech investments to help provide context: We’ll hear from Jesse Wedler, a partner at CapitalG based in North America; Kola Aina, a general partner at Ventures Platform based in Africa; and Shiyan Koh, a general partner at Hustle Fund based in Asia.

Let’s talk a few key fintech numbers, and then rip into venture results by geography and focus.

Huge checks, myriad exits

While we’re looking beyond the largest checks today to get a more holistic perspective on the state of the fintech venture capital world, we cannot discount them. So, briefly, what matters from the mega-round space, or the funding category of rounds worth nine figures and more? Some 57 were raised by fintech startups around the world in the first quarter, or about 4.5 per week. That number was 30 in Q4 2020, and just 21 in Q1 2020.

The first quarter’s 57 mega-deals were worth a huge 69% of total venture capital in the fintech space during the quarter. Don’t be shocked by that figure; a single mega-round can add up to the value of 50 seed deals pretty easily.

The huge results should also not be a complete surprise, CapitalG’s Wedler told TechCrunch in an email, as “the reality is that fintech has been a hot category for years.” What could be driving the recent acceleration in capital disbursement into financial technology startups? Wedler mused it’s a combination of “the ubiquity of smartphones and the modern internet, the development of modern cloud technology, and advancements in APIs and modular services.”

News: Google Pay update adds grocery offers, transit expansions, and spending insights

Following November’s overhaul of Google Pay, which saw the service expanding into personal finance, the company today is rolling out a new set of features aimed at making Google Pay more a part of its users’ everyday lives. With an update, Google Pay will now include new options for grocery savings, paying for public transit,

Following November’s overhaul of Google Pay, which saw the service expanding into personal finance, the company today is rolling out a new set of features aimed at making Google Pay more a part of its users’ everyday lives. With an update, Google Pay will now include new options for grocery savings, paying for public transit, and categorizing their spending.

Through partnerships with Safeway and Target, Google Pay users will now be able to browse their store’s weekly circulars that showcase the latest deals. Safeway is bringing over 500 stores to the Google Pay platform, and Target stores nationwide will offer a similar feature. Google Pay users will be able to favorite the recommended deals for later access. And soon, Google Pay will notify you of the weekly deals when you’re near a participating store, if location is enabled.

Image Credits: Google

Another update expands Google Pay’s transit features, which already today support buying and using transit tickets across over 80 cities in the U.S. New additions arriving soon now include major markets, Chicago and the San Francisco Bay Area. This follows Apple Pay’s recently added and much welcomed support for the Bay Area’s Clipper card. The company is also integrating with Token Transit to expand transit support to smaller towns across the U.S.

Soon, the Google Pay app will also allow Android users to access transit tickets from the app’s homescreen through a “Ride Transit” shortcut. They can then purchase, add, or top up the balance on transit cards. Once purchased, you’ll be able to hold up your transit card to a reader — or show a visual ticket in the case there’s no reader.

The final feature is designed for those using Google Pay for managing their finances. With last year’s revamp, Google partnered with 11 banks to launch a new kind of bank account it called Plex. A competitor to the growing number of mobile-only digital banks, Google’s app serves as the front-end to the accounts which are actually hosted by the partner banks, like Citi and Stanford Federal Credit Union.

As a part of that experience, Google Pay users will now gain better access into their spending behavior, balances, bills, and more via an “Insights” tab. Here, you’ll be able to see what your balance is, what bills are coming due, get alerts about larger transactions, and tracking spending by either category or business. As Google is now automatically categorizing transactions, that means you’ll be able to search for general terms (like “food”) as well as by specific business names (like “Burger King”), Google explains.

Image Credits: Google

These features are a part of Google’s plan to use the payments app to gain access more data on users, who can then be targeted with offers from Google Pay partners.

When the redesigned app launched, users were asked to opt in to personalization features which could help the app show users better, more relevant deals. While Google says it’s not providing your data directly to these third-party brands and retailers, the app provides a conduit for those businesses to reach potential customers at a time when the tracking industry is in upheaval over Apple’s privacy changes. Google ability to help brands reach consumers through Google Pay could prove to be a valuable service, if the is able to grow its user base, and encourage more to opt in to the personalization features.

To make that happen, you can expect Google Pay to roll out more useful or “must have” features in the weeks to come.

News: Firstbase raises $13M to make remote work suck less

The chance that I am ever willing to commute on a regular basis again in the future is zero. It’s too inefficient. And while workers and employers are somewhat split on where they stand on the question of remote toil, the COVID-19 pandemic has permanently shaken up the working world; we’re not going back to

The chance that I am ever willing to commute on a regular basis again in the future is zero. It’s too inefficient. And while workers and employers are somewhat split on where they stand on the question of remote toil, the COVID-19 pandemic has permanently shaken up the working world; we’re not going back to the pre-COVID normal.

To support what could be droves of workers sticking to distance-labor instead of returning to offices, Firstbase is building a software-and-hardware solution to quickly get remote workers the tools and support they need. And today the company announced that it closed a $13 million Series A led by Andreessen Horowitz. B Capital Group and Alpaca VC also put capital into the round; TechCrunch first caught wind of Firstbase when it took part in an Acceleprise accelerator cohort in mid-2020.

Notably Firstbase didn’t start with its current product focus. As is common amongst startups, it was born as something else entirely. With an original fintech bent, the company went remote back in 2018. But the experience wasn’t stellar, Firstbase co-founder and CEO Chris Herd told TechCrunch. It was hard to get workers the technology they needed, and hard to get it back if they left the company, he explained.

Later, with the fintech effort low on capital and time, the company realized that some internal tech it had built to help support remote staff’s hardware and software needs might have broader application. Firstbase pivoted in late 2019, and by March of 2020 Herd told TechCrunch that his company had 600 companies on its waitlist. That number has since multiplied.

The company’s product is two-fold. It’s a software service that help companies track, and manage their hardware assets that remote workers use. And it’s a hardware service that can pre-install software on hardware and ship it to employees, and provide remote IT support. Notably customers can either use Firstbase’s software alone, which they pay for on a SaaS basis, or both its software and hardware offerings.

Firstbase has two sources of gross margin. Its software business will generate obvious software incomes, and the company can extract gross profit from its hardware business, Herd explained. The hardware part of the startup’s model appears more nascent than the software component. Firstbase only began onboarding customers last November, making it a yet-nascent startup that is allowed to still be figuring things out.

TechCrunch asked Herd what it costs to kit out a remote worker today. He said that it varied, but could land between $2,000 and $5,000, though he added that Firstbase will allow customers to pay those costs over time as a series of flat payments.

What’s ahead for the company? Per its CEO, the merely ten-person company, three of whom are part time, would like to grow its staff by four or five-fold this year. And unsurprisingly, Firstbase intends to hew to its remote roots, meaning that it won’t be looking for workers in a single geographic region. Some of the staff it intends on hiring will be in its sales org, a focus that Herd mentioned during our interview. The company will also build out more enterprise-friendly software features with its new capital, allowing it to target larger customers.

Let’s see how far Firstbase can scale with its Series A. And if it gets pre-empted before the year ends.

News: MoviePass co-founder’s PreShow Interactive raises $3M to expand into gaming

PreShow Interactive is giving gamers a new way to earn in-game currency in exchange for watching ads — a concept that’s become familiar in mobile games but hasn’t really made much headway on PCs or consoles. The startup is led by MoviePass’ founding CEO Stacy Spikes. When I spoke to Spikes about PreShow two years

PreShow Interactive is giving gamers a new way to earn in-game currency in exchange for watching ads — a concept that’s become familiar in mobile games but hasn’t really made much headway on PCs or consoles.

The startup is led by MoviePass’ founding CEO Stacy Spikes. When I spoke to Spikes about PreShow two years ago, he was beta testing an app that provided users with free movie tickets in exchange for watching ads. But obviously, theatrical moviegoing has taken a big hit in the past year.

Spikes told me yesterday that he’d always hoped to bring the PreShow concept to four categories — theatrical movies, gaming, subscription streaming and video on demand — but the pandemic forced the startup to shift focus more quickly than expected and explore what a gaming experience might look like.

The current plans is to launch a new PreShow Interactive app this summer, where viewers can connect their in-game accounts and identify how much virtual currency they want to earn. Then they watch a package of ads and PreShow will automatically transfer the currency to their account — in other words, it’s buying the currency for them.

Users will have to download a separate app to watch the ads and get the benefits, but Spikes said this is actually better than trying to integrate advertising or branded content into the game itself, which can be a slow process for the developer and the advertiser, while also being distracting for the players. And this means PreShow Interactive should able to support 20,000 games at launch, across PCs, consoles and virtual reality.

PreShow Interactive

Image Credits: PreShow Interactive

“We just didn’t see the purpose of spending the time on integrations when it’s not really necessary,” he added. “Our deal is only with the consumer for their time. We’re saying, ‘This is your time. It has value.’”

One of the key elements to Preshow’s approach is technology that can detect when the viewer is actually looking at their phone screen — the ads will stop playing if you turn away. This has been criticized as “creepy surveillance tech,” but Spikes claimed that early PreShow users have embraced it. He also argued that it’s more transparent than the data collection and targeting currently driving online advertising.

“We used to think data was the new oil, but now our feeling is that permission and engagement and attention is the new oil,” he said.

In addition to revealing its new strategy, PreShow is announcing that it has raised $3 million in seed funding led by Harlem Capital, with participation Canaan Partners, Wavemaker Ventures, Front Row Fund, ROC Fund, BK Fulton and Monroe Harris.

And to be clear, Spikes said PreShow isn’t abandoning theatrical movies. He said that the PreShow app will eventually offer both movie and gaming deals “under one roof,” but brands aren’t currently eager to advertise to moviegoers.

“We’re ready to go when the marketplace is ready to go,” he said.

 

News: Head, tail, knees and trees (knees and trees)

Some fun ones this week, so let’s get all of those pesky business transactions out of the way first, shall we? I mean, not that tens of millions of dollars changing hands for future robotics technology is boring, he said, tugging at his collar for comedic effect. Big raise this week for Plus One Robotics.

Some fun ones this week, so let’s get all of those pesky business transactions out of the way first, shall we? I mean, not that tens of millions of dollars changing hands for future robotics technology is boring, he said, tugging at his collar for comedic effect.

Image Credits: Plus One Robotics

Big raise this week for Plus One Robotics. The San Antonio-based company raised a healthy $33 million Series B, bringing its total funding above $40 million. The company mostly traffics in the warehouse and logistics space — obviously a category with a lot of excitement around it after last year’s massive shut down. As many companies have told me, most clients are simply looking for a way to help their footing in the competition against Amazon.

In addition to its massive headcount and seemingly bottomless resources, the e-commerce giant has deployed a huge army of robots in its warehouse. Plus One, for its part, doesn’t make the robots, but rather the vision software that works with them. The company’s product is designed to work across a broad range of robotic arms and grippers, allowing workers to control up to 50 systems at once.

Image Credits: Roam Robotics

We’ve talked about exoskeletons quite a bit on these pages, but Roam offers an interesting alternative to a number of bigger, bulkier and harder products on the market. The company’s latest device I liken to a standard knee brace, with AI and robotic capabilities that assist with movement. Specifically it helps with things like walking up stairs and standing up from a seated position.

And here we have a tiny tree man. Project Kiwi is kind of like Pinocchio if he really leaned into the whole wooden thing in the process of becoming a real boy. Obviously Disney’s going for the (sometimes) littlest Guardian of the Galaxy, Groot, for its latest extremely impressive animatronic.

Matthew was extremely impressed seeing the beautiful little tree guy in action and, living vicariously through some YouTube videos, I definitely have to confirm.

A fun bit of research out of Carnegie Mellon this week. The latest bit of biomimicry is a bit surprising. Obviously Cheetah has been a big inspiration for a number of quadrupedal robots (MIT in particular has a whole lot going in the Cheetah department). Specifically, though, the CMU researchers are looking at the big cat’s tail. Per CMU:

The cheetah’s lightweight furry tail is known as an aerodynamic drag tail; that is, it acts sort of like a parachute. Most robotic tails have high inertia, but the cheetah manages to retain low inertia. Inertia is a physical quality that describes an object’s resistance to changes in motion — high tail inertia means the tail can apply high forces. Aerodynamic tails instead use a different principle — aerodynamic drag — to achieve high forces without a large inertia.

News: ReleaseHub nabs $2.7M seed to give developers on-demand environments

Every developer relies on environments like testing, staging and production as they build software, but building them can be a time-consuming operation. ReleaseHub, an early stage startup that was part of the Y Combinator Winter 2020 cohort, wants to change that by providing a service to make environments available on demand. Today, the company announced

Every developer relies on environments like testing, staging and production as they build software, but building them can be a time-consuming operation. ReleaseHub, an early stage startup that was part of the Y Combinator Winter 2020 cohort, wants to change that by providing a service to make environments available on demand.

Today, the company announced a $2.7 million seed, and also announced that service is generally available while they were at it. Sequoia led the round with participation from Y Combinator, Rogue VC, Liquid Capital and unnamed angel investors.

Company co-founder and CEO Tommy McClung says that every developer in the world has to use environments in their development workflow, but it remains for the most part a manual process.

“All of those environments are incredibly difficult to build. So the problem we’re solving is the ability to create those on demand. Instead of having to have a DevOps team that is responsible for managing, creating and maintaining them, the software does that and you can instantaneously create them,” McClung told me.

The service is integrated into GitHub and BitBucket, so you can build the environments on the fly as you need them based on templates for the various type. “The real value that we’re bringing to the table here is that we’re bringing that together in an almost virtualized way so that you can reproduce these environments on demand,” he said.

McClung who has been working in technology for over 20 years says this is a problem he’s seen over and over again at the various companies he’s worked at over the years. After running engineering at TrueCar, his most recent company, he decided to build a startup to solve the problem once and for all.

He notes that this is the second time he’s been a YC company and while the size and scope of the operation has changed since he last participated in 2009, the process remains much the same. For starters, there were 20 companies involved back then and over 200 this time around, but he says by breaking it down into smaller groups, it helped create the same feel.

The company launched at the beginning of last year, and spent last year building the product and working with design partners and beta customers ahead of today’s release. The plan is to offer a subscription service where companies pay by the number of environments they create.

ReleaseHub currently has 10 employees including the three founders with plans to add more, especially engineers to help continue building out the solution and adding more layers of functionality. As he does this, McClung says bringing in a diverse group of employees is a priority for the founding team.

“I mean I’ve been building companies for a long time and it has to be embedded into the DNA of the company at the very earliest stages, so making sure that you have diverse talent [from the start],” he said.

He says the plan is to stay 100% remote even after offices open again. “We were forced into being remote and actually we made it work really well for us. You know in a lot of ways it’s advantageous for work-life balance,” he said.

WordPress Image Lightbox Plugin