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Even as oil companies are getting crushed by the collapse of demand for energy in the wake of international shutdowns responding to the global pandemic, investors representing one of the world’s savviest financiers are placing a small bet on electric charging as the future of transportation. Soros Fund Management, the financial investment vehicle led by famed investor George Soros, is placing a small, $13.2 million bet, alongside Siemens and a host of other investors into the Los Angeles-b
The sudden collapse in oil prices has roiled the local oil industry, prompting producers to start shutting down wells, oil well service companies to lay off staff and refineries to reduce operations.
So, you’ve been at this for years through thick and thin, great days and days in which you’ve had better times. Much of your job has become routine. But it feels good to see your “baby” grow and others buy into your vision. That daily routine. It is human nature for you and every entrepreneur to fall into a routine of taking care of day to day issues, meetings, communicating with customers and shareholders.
Elon Musk , the founder of Hawthorne-based SpaceX , in addition to Tesla , appeared to go off script and off the rails on the Tesla earnings call on Wednesday. Musk--while answering questions about when Tesla might resume production in the Bay Area--suddenly called the Bay Area's "shelter in place" order "fascist" and said that is "not why people came to America or pulled this country--what the f**k?".
Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.
Google Cloud today announced the official opening of its Las Vegas data center region. With this, Google Cloud now operates four regions in the western U.S., with Las Vegas complementing Google Cloud’s existing data centers in Los Angeles, Calif.; The Dalles, Ore. and its recently opened Salt Lake City, Utah region. In total, Google now offers its customers the option to host their applications in 23 regions globally; with the opening of this new region, it now has seven U.S. regions.
Miso Robotics Inc., a Pasadena-based robotics and artificial intelligence company, is seeking to raise a $30 million Series C through crowdfunding on the SeedInvest platform.
In my experience, the Silicon Valley startup model, focused on disrupting established industries, has treated the USA well and created some great global businesses. Yet many of you are telling me that we are all missing big opportunities by not recognizing the unique challenges faced by startups in developing countries , where infrastructure is lacking, and talent is not so concentrated.
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In my experience, the Silicon Valley startup model, focused on disrupting established industries, has treated the USA well and created some great global businesses. Yet many of you are telling me that we are all missing big opportunities by not recognizing the unique challenges faced by startups in developing countries , where infrastructure is lacking, and talent is not so concentrated.
Fountain Valley-based HyperX is jumping into the world of Fortnite, saying this morning that it has signed up Fortnited streamer Soleil "Ewok" Wheeler as one of its brand ambassadors. According to HyperX, Ewok will use HyperX gaming keyboards, mice, mousepads, SSDs, and memory modules while streaming as part of the sponsorship deal. Other details on financial arrangements for the sponsorship were not announced.
Many patients with Parkinson’s disease take a combination medication called levodopa/carbidopa to control their symptoms, but over time, experience “off” episodes in which the tremor, slowed movement, and difficulty walking that characterize the disorder occur. Now the FDA has approved a Neurocrine Biosciences (NASDAQ: NBIX ) drug intended to be taken along with levodopa/carbidopa to extend the therapy’s “on” time for patients.
Almost every entrepreneur starts their journey by developing a solution, based on their idea of a new technology or required service. These idea and developer skills are necessary, but not sufficient, to build a business. A real business requires leadership – thought leadership to attract customers and mind share, as well as people leadership around a team, partners, and investors.
Fountain Valley-based gaming products brand HyperX says it is in a collaboration with HIT COMMAND , a subsidiary of Red Light Management, to bring music and entertainment celebrities from HIT COMMAND to the world of gaming and esports. According to the two companies, they are "creating a new experience that merges entertainment and gaming." The two said that HyperX will become the "Preferred Peripherals Partner" for several live and online events in development between the two companies.
Remdesivir, the investigational Gilead Sciences antiviral drug, looks more likely than ever to become the first treatment authorized by the FDA to treat patients with COVID-19. National Institute of Allergy and Infectious Diseases (NIAID) head Anthony Fauci praised the drug after preliminary data released this week from a federally funded trial involving more than 1,000 patients.
Miso Robotics Inc., a Pasadena-based robotics and artificial intelligence company, is seeking to raise a $30 million Series C through crowdfunding on the SeedInvest platform.
If you want to make a great first impression on a startup investor or an advisor like me, don’t try to convince me or show me how busy you are. For some reason, too many aspiring entrepreneurs I know seem to focus on “actions” rather than “results.” Based on my experience, survival and success are both about doing the right things , and not about doing everything.
Ford has cancelled an electric SUV it had planned to develop using technology from electric truck developer Rivian , as the automaker has gone into survival mode due to a massive impact from the ongoing pandemic. According to Ford's Lincoln arm, "Lincoln and Rivian have decided not to pursue development of a fully electric vehicle based on Rivian's skateboard platform," although Lincoln said they will continue to work together on other projects.
Miss the event or want to revisit the insightful content? Our new podcast packages the highlights from the recent Xcelerating Life Sciences San Diego: Biomedical Breakthroughs in Precision Medicine & Genomics forum. Listen today. Featuring expert panels on: Successful R&D models What it takes for commercialization Building a biotech ecosystem in San Diego Dozens of biotechs have emerged from universities, research institutions, and philanthropic organizations, defining San Diego as a mee
Did you ever wonder why some entrepreneurs always seem to have all the luck and success, while others never seem to catch a break? As an angel investor, I quickly learned that luck has very little to do with it, and I now look for some personal characteristics and leadership styles that separate the potential winners from the losers. These differences are the reason that investors say that they invest in people, rather than ideas.
Los Angeles-based mobile games developer Scopely PierPlay , the mobile game developer behind the popular game "Scrabble Go". Financial terms of the acquisition were not announced. Scrabble Go launched in March, and is based on the Scrabble title, which was licensed from Hasbro and Mattel. Scrabble Go is PierPlay's first title. Scopely was the publisher on Scrabble Go.
Serial biotech entrepreneur Jonathan Lim has raised a whopping $200 million to advance multiple candidates at his latest cancer drug development venture, Erasca, into human testing. Lim (pictured) sold his previous company, Ignyta, to Roche for $1.7 billion. On Monday Erasca—a portmanteau of “erase” and “cancer”— announced it had completed a Series B financing round jointly led by Arch Venture Partners and Cormorant Asset Management.
The average length of a funding pitch to angel investors is ten minutes. Even if you have booked an hour with a VC, you should plan to talk only for the first fifteen minutes. The biggest complaint I hear from fellow investors is that startup founders often talk way too long, and neglect to cover the most relevant points. Or they get sidetracked by a technical glitch due to poor preparation.
Pasadena-based robotics developer Embodied , led by Paolo Pirjanian, the former CTO of iRobot, said this morning that it has launched Moxie , the company's first product. The company said Moxie is an "animate companion" aimed at helping to promote social, emotional, and cognitive learning for children. The company says its robot incorporates machine learning technology, which it says allows it to perceive, process and respond to natural conversation, eye contact, facial expressions and other beh
San Diego-based Lead Inclusively , a consulting firm which provides technology-enabled services around diversity, equity, and inclusion, said last week that it has raised $1.5M in a funding round. The funding came from angel investors Christopher Craig and Fran Craig. Lead Inclusively said the new funding will go towards further developing its software-as-a-service platform, which is says is focused on "the science of behavior change and habit formation.
Irvine-fleet tracking and stolen vehicle recovery systems developer CalAmp said on Thursday that it has partnered with Mexican insurance provider GNP Seguros , to provide its stolen vehicle recovery systems in Mexico. According to CalAmp, its subsidiary, LoJack Mexico, will begin installing its technology in both new and pre-owned vehicles insured by GNP at Michelin Car Centers and auto dealers across Mexico.
Newport Beach-based Vital Data Technology , a developer of artificial intelligence software for the clinical informatics area, said this week that it has named Alan Spiro as its new Chief Medical Officer in Residence. Vital Data said that Spiro was most recently head of Blue Health Intelligence's development of new data services, and also previously served at Anthem and Medica, in addition to founding Accolade, which developed products for benefit management.
West Hollywood-based Dear Media , which is developing a podcasting network focused on female voices, said on Thursday that it has raised $8M in a funding round. The funding came from private equity investor Magnet Companies. Dear Media is led by CEO Michael Bosstick, and the company was co-founded with Raina Penchansky. The company is focused on millennial and Gen-Z women.
Hawthorne-based SpaceX is one of three companies which was selected by NASA today to develop lunar landers to land astronauts on the Moon, according to NASA. According to NASA, SpaceX is one of the companies selected to design and develop human landing systems (HLS) for the agency's Artemis program. Although NASA did not say what each company in the program will receive, it said that combined value of the contracts for program, split between SpaceX, Blue Origin, and Dynetics, would be worth $967
San Diego-based molecular testing technology developer Progenity said this morning that it has named Troy Seelye as its new Chief Information Officer (CIO). Seelye was most recently at Teradata, and also served at Illumina, and Amgen. Seelye had spent 17 years of his career with Amgen. According to Progenity, Seeyle will help to strengthen the company's technology and data strategy.
Los Angeles-based online electronics retailer Newegg says it has "dramatically increased" its logistics capabilities, as a result of the ongoing coronavirus pandemic. Newegg said its third-party logistics (3PL) operation has both increased production and made "significant hires" across the U.S. The company did not say how many people it has hired as a result of that expansion.
Hollywood-based streaming television service Rivit TV , which recently launched a streaming television service which had allowed audiences to choose which series they wanted to support, says it will "pause" its service due to the COVID-19 pandemic. The company--which just launched on March 24th--blamed the "difficult current climate faced by audiences" and said it plans to restart in the Fall.
Los Angeles-based Two Bit Circus Foundation , the nonprofit, educational arm of Two Bit Circus, says it is launching a new online "virtual Cardboard Challenge", a competition that encourages the worldwide STEAM community to create projects using cardboard at home. According to Two Bit Circus Foundation, the effort is aimed at getting people to embrace creativity and inspire the next generation of inventors.
El Segundo-based 3Diligent , which provides CAD/CAM-based fabrication services such as 3D printing, machining, casting, and injection molding, said on Tuesday that it has launched new machine shop management software. The company said its new product, 3Diligent Shopsight, a set of tools aimed at streamlining digital manufacturing. 3Diligent said the new software works with its procurement service, ProdEX. 3Diligent is led by CEO Cullen Hilkene.
Los Angeles-based private equity investor Palisades Growth Capital announced this morning that it has sold off its ownership interest Los Angeles-based L Docupace , a developer of software for the wealth management industry. Financial terms of the sale were not announced. Palisades said it sold its interests in Docupace to another private equity investor, FTV Capital.
Irvine-based Medata , which develops bill review software for group health, workers' compensation and auto liability companies, says it has rolled out a new tool for medical services pricing called Lookup. The company said the new service--which starts at $25 for individual users--is aimed at smaller insurance carriers, Medicare Set-Aside companies, life care planners, law offices, nurse case managers, hospitals and doctors' offices.
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