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The diagnostics startup Curative has received an emergency use authorization from the Food and Drug Administration for its novel test to determine COVID-19 infection. The company says that its tests have already been used by the City of Los Angeles since late March and have tested over 53,000 city residents. Curative’s tests use an oral-fluid sample collected by having the subject cough to produce sputum, which release the virus from deep in the lungs, according to a spokesperson.
Successful entrepreneurs are the ones who think the most creatively, not only in their initial product or service, but more importantly all through the stages of growth from startup to maturity. But even the best of them can easily slip into some bad decision habits that limit or hurt their business, due to natural human tendencies and the pressures of business challenges.
To survive this nasty Covid 19 surge facing businesses of all types, leaders must make decisions that hurt but are necessary. Keep the employees for the SBA PPP requirements regarding loan forgiveness, or furlough or let good employees go, so they can file unemployment claims? And what about termination decisions you make affecting just the few you wanted to eliminate anyway?
OriginClear Inc., a downtown water treatment technology business, has moved its corporate headquarters to the company's manufacturing site in McKinney, Texas.
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.
Representatives from the government and the utility managing the power of Los Angeles are proposing a sweeping infrastructure package worth roughly $150 billion centered on the broad electrification of transportation and industry. Drafted by the Los Angeles-based public-private Transportation Electrification Partnership , a collaboration between the Office of Mayor Eric Garcetti, Southern California Edison, the Los Angeles Department of Water and Power and the Los Angeles Cleantech Incubator, th
Investors will tell you that they love to put money into startups that are scalable, and ready to become the next unicorn. But what does that really mean? Simply stated, it means that your business has the potential to multiply revenue with minimal incremental cost. Ready to scale is when you have a proven product and a proven business model, about to expand to new geographies and markets.
The start of a potentially big biomedical breakthrough is blooming within all of us. Drug research aiming to turn bacteria into microbiome therapies now spans programs aiming to address gut disorders, autism, cancer, and more. Given the number of late-stage and mid-stage studies expected to report data in 2020—assuming they stay on track amid the COVID-19 pandemic—this could be a pivotal year for the field, said Isabelle de Cremoux, CEO and managing partner of Seventure Partners.
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The start of a potentially big biomedical breakthrough is blooming within all of us. Drug research aiming to turn bacteria into microbiome therapies now spans programs aiming to address gut disorders, autism, cancer, and more. Given the number of late-stage and mid-stage studies expected to report data in 2020—assuming they stay on track amid the COVID-19 pandemic—this could be a pivotal year for the field, said Isabelle de Cremoux, CEO and managing partner of Seventure Partners.
Wix has announced a limited-time half price sale on its website builder plans, with a 50% off deal beginning today and ending on Wednesday. The half price sale is open to new users and anyone currently using Wix's free plan. This means you can access one of the best website builders and ecommerce platforms on the market from as little as $6.50 per month.
Divergent, the Los Angeles-based startup aiming to revolutionize vehicle manufacturing, has cut about one-third of its staff amid the COVID-19 pandemic that has upended startups and major corporations alike. The company, which employed about 160 people, laid off 57 workers, according to documents filed with the California Employment Development Department.
Most small businesses I advise still rely on traditional advertising models, assuming they can create enough media “noise” to get customers attention and sway them. You don’t realize that person-to-person noise now dominates all channels through social media, effectively hiding business marketing messages. You now need a personal context in your marketing to get results.
Santa Barbara-based HG Insights , which provides data on IT spending and technology to companies, says it has used its technology to compare the amount of cloud adoption by companies, which it says might help companies better weather the economic storm brought on by COVID-19. The company said the amount of cloud technology investment levels across different industries "varies considerably".
Veteran biotech executive Laura Shawver is taking over as CEO at Silverback Therapeutics, joining the cancer drug developer as it is poised to move its first compound into the clinic. The Wednesday announcement comes three months after French firm Sanofi (NYSE: SNY ) closed its $2.5 billion acquisition of La Jolla, CA-based Synthorx , the biotech Shawver most recently headed.
GM’s experiment with car sharing is over. The automaker Tuesday said its Maven car-sharing service, which launched in 2016, will shut down for good. Maven had paused service due to the COVID-19 pandemic. The company sent an email to customers Tuesday that after examining the business, the car-sharing industry and COVID-19, it decided to shutter the service permanently.
Successful entrepreneurs often start with a “random” idea, but they quickly focus their efforts and follow a “system” to organize their startup and maximize the clout of their activities. Too many entrepreneur “wannabes” never get past the idea stage, or strike out randomly in many directions, hoping that their passion will convince people to follow them and make their business grow.
For our interview this morning, we spoke with Carey Ransom , from OC4 Venture Studio (www.oc4v.com). Carey tells us a bit about what OC4 is doing, how it invests and works with companies, and also gives startups some advice about how to approach moving forward in light of the pandemic. What is OC4? Carey Ransom: The way I think about it, is it is really the culmination of almost two decades of software and technology company building and investing.
COVID-19’s spread has clamped down on a lot of economic activity, including the work of developing and testing new medicines. But the FDA isn’t showing signs of slowing down, at least when it comes to drugs filed for accelerated approval. The regulator signed off on three such drugs in the past week. These approvals are for cancers that have few, if any, treatment options.
Cruise, the subsidiary of GM that also has backing from SoftBank Vision Fund, automaker Honda and T. Rowe Price & Associates, is turning to a heavy hitter to head up its legal team. The autonomous vehicle technology company has hired Jeff Bleich, board chairman of utility Pacific Gas & Electric, as its chief legal officer. Bleich has a lengthy resume that includes a position as special counsel to former President Barak Obama and as a U.S. ambassador to Australia.
Every business professional and entrepreneur believes they are good communicators, but how do they know? It’s really the perception of the recipients that counts, and poor communicators are almost always poor listeners, so they don’t hear the shortcomings. Warren Buffet once told a class of business students that better communication could boost their value by fifty percent.
San Clemente-based Swift Tactical Systems , a developer of unmanned aerial vehicle technology, says it has completed a personnel search and rescue and animal identification missions as part of a contract with Okayama Prefecture in Japan. According to the company, its systems were able to detect "high value targets" in minutes versus days in the feasibility study in Japan.
Network speeds are closely tied to an organization’s ability to stay productive and remain competitive and profitable at all times. As businesses expand and take on new services, technologies, and a larger workforce, they require more network capacity to support growth without sacrificing efficiency. . In a world shifting to a work-from-home reality, employees using VPNs to access secure data remotely require networks with enough bandwidth to prevent slow page speeds and general downtime.
Two new special reports on Xconomy Insight provide an expert view on how companies can sustain clinical trials during the COVID-19 crisis. “ Decentralized Clinical Trials: The Call for a New Paradigm ” and “ Sustaining Clinical Research During the Crisis ” offer the latest trends and technologies companies can use to keep business running as smooth as possible.
Several years ago I made an appearance in a burgeoning new podcast called “20 Minute VC,” which by now needs no introduction. Harry was gracious enough to invite me back so this past week we recorded an episode discussing the current market environment. Please download the episode here , if for no other reason than to make Harry happy :) but I’ve also included some quick notes below including a few notes I didn’t share in the podcast (and vice versa by the way?
Newport Beach-based Myosana Therapeutics , a biotech company which is working on technology for non-viral gene delivery, has raised $1M in its seed funding round, the company said this morning. The funding came from CureDuchenne Ventures. The company said the new funding will go towards development of its non-viral gene therapy, for delivering a treatment for Duchenne muscular dystrophy (DMD).
Fountain Valley-based computer gaming accessories maker HyperX --which is a division of Kingston Technology--says it has added two new gaming headsets to its lineup this morning. The company said the new HyperX Cloud Stinger Core + 7.1 and HyperX Cloud Stinger Core Wireless + 7.1 Gaming Headset are both part of its Cloud Stinger family, and are expected to retail for $59.99 and $79.99, respectively.
Irvine-based esports company Allied Esports says, despite the shuttering of its live event business, its companies are seeing increased fan engagement from the widespread shift of people online in wake of the COVID-19 crisis. According to Allied Esports, it is seeing increased engagement, registration, participation and viewership within its two business units, World Poker Tour and Allied Esports International.
Los Angeles-based electric car developer Faraday Future said on Thursday afternoon that it has added former Nevada Lieutenant Governor Brian Krolicki to the company's board. According to Faraday Future, the move will help it help bolster its leadership team, improve corporate governance, and secure funding for the planned delivery of its first ultra-luxury production vehicle (FF 91).
Los Angeles-based private equity investor Century Park Capital Partners said this week that it has completed a majority recapitalization of business and IT consulting services company Accelalpha. Financial details of the recapitalization were not announced. According to the company, it has combined Accelalpha and a provider of logistics IT consulting, Prolog Partners.
Simi Valley-based AeroVironment announced this morning that it has rolled out an unmanned aircraft system (UAS), which has vertical takeoff and landing capabilities. The company said the new Quantix Recon is designed for defense applications, and is fully automated--with no need for radio communications during flight, allowing it to conduct missions undetected.
Carlsbad-bsed MaxLinear , which develops radio frequency, analog, and mixed signal integrated circuits, says it has received an early termination on the waiting period for its acquisition of Intel's Home Gateway Platform Division. The company said the early termination came from the U.S. Federal Trade Commission (FTC) on April 21st. MaxLinear announced the acquisition of Intel's division on April 6th.
Irvine-based vehicle intelligence and data provider Spireon , looking to provide more insight into the ongoing COVID-19 pandemic, said this morning that its data shows that driving has a strong correlation to upsurges in COVID-19 cases. According to Spireon, its data shows that 10-14 days after recent spikes in driving activity, there have been corresponding upticks in the number of reported cases of COVID-19.
Santa Monica-based on-demand scooter service Bird announced on Wednesday that it has launched a new "Warm Up Mode", which will help its riders as they get back on the company's scooters, which will offer "gentle acceleration" so that riders who are "out of practice" or new scooter riders "sensitive to social distancing guidelines" avoid sudden acceleration.
Irvine-based Kofax says it is helping to power a platform from ImageTech Systems , for managing loan applications submitted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act Paycheck Protection Program (PPP). The program--which recently ran out of funds allocated to it by Congress--is expected to be extended this week. According to Kofax, its automated system significantly reduces the stress placed on loan processing functions due to higher volumes of government-backed loan ap
In more proof of how the COVID-19 pandemic is affecting business, Santa Monica-based online auto information and automotive car shopping software provider Edmunds said today that it has been helping out its dealer partners, by providing a 50% discount on its subscription services. The company said it offered that financial relief to its partners in April, and will now extend that discount through May.
Santa Monica-based Snap , the parent company of Snapchat , reported its first quarter 2020 financials on Tuesday afternoon, saying that it has seen an increase in both its daily active users and revenues. The company attributed that growth in part to the increased need by people to connect with their friends and family while stuck at home during the COVID-19 pandemic.
General Motors has shut down its Maven car sharing service, including its services in Los Angeles, as the ongoing COVID-19 pandemic has put the final nails in the coffin for the service. The car sharing service--which already had been struggling prior to the pandemic outbreak--had paused its business last month nationwide. Maven had previously set up a partnership with the City of Los Angeles to encourage EV sharing.
Los Angeles-based dating app and service operator eharmony is adapting to the world of pandemic shelter-in-place, saying on Monday that it has rolled out a new "Video Date" feature. According to eharmony, the new feature allows people to "meet" face-to-face via a virtual get-together. The dating service said it has seen a 27 percent increases in messages in April, compared to March, as people have been spending more time at home with their devices. eharmony noted that its new feature allows memb
Los Angeles-based Zefr , which develops software used by brands advertising on YouTube, says it has been selected for an expanded YouTube Measurement Program (YTMP). The company said the selection for participating in the program are linked to the company's recently expansion of its Context DMP product to support 20 languages, including Spanish and Japanese.
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