Connect with us

Private Equity

It’s time to boycott Saudi money (aka Masa’s Vision Fund)

It’s time for founders and venture capitalists to say “not yet” to Saudi Arabia’s sovereign wealth fund — commonly referred to as Masa’s Vision Fund in tech — due to the deteriorating state of human rights in the Kingdom. [ Disclaimer: at least one of my 200+ investments has taken money from Masa’s Vision Fund … Continue reading It’s time to boycott Saudi money (aka Masa’s Vision Fund)

The post It’s time to boycott Saudi money (aka Masa’s Vision Fund) appeared first on Jason Calacanis.

Avatar

Published

on

It’s time for founders and venture capitalists to say “not yet” to Saudi Arabia’s sovereign wealth fund — commonly referred to as Masa’s Vision Fund in tech — due to the deteriorating state of human rights in the Kingdom.

[ Disclaimer: at least one of my 200+ investments has taken money from Masa’s Vision Fund — which as I said is majority-powered by Saudi Arabia — so I’ve benefited from their presence in tech. As an angel investor, I wasn’t involved in the decision. ]

For the past decade I’ve struggled with the question of whether it’s better to isolate or engage with the kings and queens, and often dictators and despots, of nation states that can’t reach the baseline of human rights we take for granted here in the West: freedom of speech, freedom to be who you are (gay, trans, Christian, Jewish, atheist, woman, etc.) and a justice system that doesn’t rely on cruelty, corruption and torture.

[ Click to Tweet (can edit before sending): https://ctt.ac/TReaL ]

We’re not perfect here in the United States, with the waterboarding-adoring presidents Bush and Trump, or the progressive-gentleman Obama who couldn’t figure out how to close Gitmo after eight years (we never did get a straight answer on that one, did we?).

However, when you pull out the Universal Declaration of Human Rights, we’re on the right side of history despite our weakest moments that drive us to embrace the death penalty, or our capitalism-gone-wild experiment with paid prisons. Not to mention a justice system that statistically treats people differently based on their skin color.

Another factor we should be proud of is that we live in a country where debating, investigating and fixing these systems occurs out in the open — and without the arrest of those pushing the resolution of these difficult issues (as just happened).

Engagement or Isolation?

In the engagement camp, it’s easy to point to that fact that we’ve avoided a massive military conflict with China thanks to our intertwined economies, while disagreeing on basic human rights.

Perhaps that’s why Sergey at Google is embracing a censored Google for China (Dragon, how clever :eyeroll:), or maybe Brin’s getting run over by his own company — hard to know what Googlers think since they’ve mastered the art of obscuring the decision-making process through deliberate levels of management and shell companies.

[ Side note: Where have you gone, Sergey Brin?! Speak up kid, your silence is brutally deafening, and what’s the point of making tens of billions of dollars if you can’t speak for what’s right in your own company? ]

On the side of isolation, or perhaps a polite “not yet” as I’m advocating here, is Saudi Arabia, which went through a great “we’re changing!” tour with their partner, Masayoshi Son of SoftBank — a true gentleman and visionary leader.

That was before they brutally dismembered a journalists for lightly criticizing them, in a coordinated hit that included a bone saw, and in Friday’s breaking news that nine intellectuals, journalist, activists — and their families (!!!) — have been jailed.

Two of the women round up are dual citizens of the United States and Saudi Arabia, and one of them is pregnant, according to reports.

Are they being tortured?

Have they been dismembered like Khashoggi?

Is the baby still alive?

It’s a sick, demented question to ask, but it’s sicker that we have to ask it.

It’s clear that in the case of the Kingdom, even with Masa Son’s vision, we’ve sent the wrong message to the world.

Silicon Valley is where massive fortunes are made, and we’ve taken the easiest cash double-up in the world — the IPO — and we’ve given it to the Saudis.

Why?

Because it’s easier to take their money than to deal with the headaches of going public?!

Because they are willing to pay next year’s, or the year after’s, price for our shares?!

Really?!

Are we that desperate for a quick markup that we’re willing to sell out the system that generated the value to begin with?

Founders should turn down Masa’s Vision Fund until they disengage from Saudi Arabia’s sovereign wealth fund.

If you’ve already taken the money, you should be respectfully vocal about your displeasure with the Kingdom’s human rights issue.

Respectful, so that it’s easier for them to change and not dig into their position.

If you’re an investor, you shouldn’t go to Saudi Arabia for their conferences and you shouldn’t allow them to be an LP in your funds.

We should take our companies public instead of doing insane late-stage rounds, because it’s healthier for everyone — founders, investors, Americans and people suffering under dictatorships — to give the IPO business to our retirement funds, endowments and retail investors.

I’m not saying we shouldn’t engage, but it’s time for us to go back to showing the world the better path — as opposed to taking the quick buck.

What’s the point of being rich and powerful Americans if we can’t tell people who behave in a way that’s so fundamentally un-American, “Thanks for the offer but that’s not how we do it here in the USA.”

Best,
Jason

PS – Like anyone who has invested for a decade in tech I’ve got many conflicts, so many that I don’t even know them all! Some of my closest collaborators probably have Saudi funds, and I’m sure many of my portfolio companies who are talking to Masayoshi Son will read this and — in the short term — not be pleased with me for potentially screwing up a deal or two. If that’s the case, let’s talk it out and figure out how to get you funded without compromising who we are.

Source: https://calacanis.com/2019/04/09/its-time-to-boycott-saudi-money-aka-masas-vision-fund/

Private Equity

Ordermark Funded $120M to Expand its Virtual Business

Virtual

Ordermark is based in Los Angeles, CA, one of the leading online ordering management solutions for restaurants and virtual restaurant concepts.

Ordermark was funded $120 million series C round funding. The funding was led by prominent technology investor SoftBank Vision Fund and joined by returning investor Act One Ventures. The grant will use to help more restaurants transition to online ordering during the pandemic and beyond.

The company’s software consolidates incoming orders from multiple platforms and sends them to a single printer. Ordermark also operates a company

Continue reading

The post Ordermark Funded $120M to Expand its Virtual Business appeared first on Funded.com.

Avatar

Published

on

Virtual

Ordermark is based in Los Angeles, CA, one of the leading online ordering management solutions for restaurants and virtual restaurant concepts.

Ordermark was funded $120 million series C round funding. The funding was led by prominent technology investor SoftBank Vision Fund and joined by returning investor Act One Ventures. The grant will use to help more restaurants transition to online ordering during the pandemic and beyond.

The company’s software consolidates incoming orders from multiple platforms and sends them to a single printer. Ordermark also operates a company called Nextbite, a portfolio of 15 readymade virtual brands such as CraveBurger, Firebelly Wings, and HotBox by Wiz, a collaboration with rapper Wiz Khalifa. Restaurants can offer these delivery-only brands out of existing kitchens, opening up additional revenue streams.

Jeff Housenbold, the Managing Partner at SoftBank Investment Advisers, said. They believe Ordermark is a leading technology platform and innovative virtual restaurant concepts transform the restaurant industry. And they are excited to support their mission to help independent restaurants optimize online ordering and generate incremental revenue from under-utilized kitchens.

The rise of ghost kitchens and virtual restaurants, often referred to as the 3rd wave of food delivery, have paved the way for a broader addressable market for online food delivery.

The statement of Alex Canter, the chief executive officer behind Ordermark 2020, has been a tough year for restaurants. That’s why they are focus on providing products and services to help keep their doors open. This funding allows them to offer more restaurants with innovative ways to reach more consumers.

By: K. Tagura

Author statement:

Funded.com is the leading platform for accredited investors network worldwide. We monitor and provide updates on important funding events. Angel Investors and Venture Funding can be a key growth for a startup or existing business. Whether it is a first, second or third round financing having a strategic alliance with an Angel Investor or Venture Capital financing can propel a business to the next level and give the competitive edge.

Source: https://www.funded.com/blog/2020/10/ordermark-funded-120m-to-expand-its-virtual-business/

Continue Reading

Private Equity

Alternative Investments/ESG: Amundi Launches Sustainable ETF With Exposure To Japanese Stocks

The Amundi Index MSCI Japan SRI UCITS ETF offers exposure to large and mid-cap companies with outstanding Environmental, Social, and Governance (ESG) ratings in the Japanese market. The new ETF is an extension of Amundi’s range of sustainable ETFs.

Avatar

Published

on

Alternative Investments/ESG: Amundi Launches Sustainable ETF With Exposure To Japanese Stocks

https://platodata.net/wp-content/uploads/2020/10/alternative-investments-esg-amundi-launches-sustainable-etf-with-exposure-to-japanese-stocks.jpg

Amundi’s new ESG ETF invests in large and mid-cap Japanese stocks.

The Amundi Index MSCI Japan SRI UCITS ETF offers exposure to large and mid-cap companies with outstanding Environmental, Social, and Governance (ESG) ratings in the Japanese market.

The new ETF is an extension of Amundi’s range of sustainable ETFs. (ETF Stream)

Amundi Index MSCI Japan SRI UCITS ETF

The ETF tracks the performance of the MSCI Japan SRI Filtered ex Fossil Fuels Index, which in turn is an equity index based on the MSCI Japan Index (the parent index). The index is representative of the large and midcap stocks of the Japanese market.

It excludes issuers involved in Nuclear, Tobacco, Thermal Coal, Alcohol, Gambling, Controversial Weapons, Conventional Weapons, Civilian Firearms, Oil & Gas, Fossil Fuels, Genetically Modified Organisms (GMO), and Adult Entertainment.

Its total expense ratio is 0.18%. No performance fees apply.

It is an accumulation fund and will be managed by Amundi Luxembourg SA, an entity that is part of the Amundi group.

The ETF is market-cap weighted and includes a 5% capping on issuer weights. It comprises 68 stocks, compared to 320 names in its parent index.

The fund’s largest holding is Nintendo with 5.6% weighting ahead of Daikin Industries with 5% and Sony with 4.7%.

It is listed on the Deutsche Boerse and Euronext Paris.

ESG ETFs continue record run

European ESG ETFs continued their strong trend and set a record for assets gathered in a month (€3.9 billion), according to the latest Money Monitor report from Lyxor ETF for September.

Related Story:  Amundi Expands ESG Range With Two New ETFs

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

Shape

Latest Alternative Investment News

Source: https://dailyalts.com/alternative-investments-esg-amundi-launches-sustainable-etf-with-exposure-to-japanese-stocks/

Continue Reading

Private Equity

Artificial Intelligence: Intel First To Deploy AI “On Edge” In Space

Intel (NASDAQ: INTC) has the distinction of launching the first onboard AI processing chip into space. Earlier this month, the European Space Agency and Intel announced the successful deployment in space of PhiSat-1, the first-ever satellite with onboard AI-processing capabilities. Launched from a rocket dispenser on September 2, the PhiSat-1 is positioned about 530 km above our heads, moving at a speed of 27,500 km per hour in a sun-synchronous orbit.

Avatar

Published

on

Artificial Intelligence: Intel First To Deploy AI “On Edge” In Space

https://dailyalts.com/wp-content/uploads/2020/10/Intel-AI-Satellite-4-scaled.jpg

A satellite the size of a cereal box, carrying a camera and an AI chip, is now in orbit.

Intel (NASDAQ: INTC) has the distinction of launching the first onboard AI processing chip into space. Earlier this month, the European Space Agency and Intel announced the successful deployment in space of PhiSat-1, the first-ever satellite with onboard AI-processing capabilities. (Business Insider)

Launched from a rocket dispenser on September 2, the PhiSat-1 is positioned about 530 km above our heads. It is moving at a speed of 27,500 km per hour in a sun-synchronous orbit.

PhiSat-1

The satellite’s objective is to monitor polar ice and soil moisture, as well as to test inter-satellite communication systems.

The satellite carries a hyperspectral-thermal camera and an Intel Movidius™ Myriad™ 2 Vision Processing Unit (VPU). The latter is responsible for the AI heavy lifting operations onboard the spacecraft.

Myriad’s immediate function is to curate the huge mass of data captured by the camera.

AI at the ultimate edge – space

The big problem facing the scientists was the sheer volume of data generated by the hi-fidelity camera onboard the PhiSat-1. The camera unfortunately does not know how to differentiate between a cloudy and clear environment.

It, therefore, takes a large number of photographs that are useless because, at any given time, clouds envelop two-thirds of the earth’s surface.

The junk photos consume precious internet bandwidth to send down to earth. After all that, scientists would likely delete the unclear photos.

The scientists decided to use onboard AI (also known as “on edge” processing) to curate the photos. Myriad-2 would examine the images, trash the useless ones, and send only the good ones to earth.

By discarding the cloudy images at the source, they saved nearly 30% of bandwidth.

“Artificial intelligence at the edge came to rescue us, the cavalry in the Western movie,” says Gianluca Furano, data systems and onboard computing lead at the European Space Agency.

“Space is the ultimate edge,” says Aubrey Dunne, chief technology officer of Ubotica, the Irish startup that built and tested PhiSat-1’s AI technology. “The Myriad was absolutely designed from the ground up to have an impressive compute capability but in a very low power envelope, and that really suits space applications.”

Ubotica worked with cosine, the maker of the camera, in addition to the University of Pisa and Sinergise.

After three weeks of testing, the team could establish that Intel’s Myriad AI onboard the PhiSat-1 was working fine.

ESA then announced “the first-ever hardware-accelerated AI inference of Earth observation images on an in-orbit satellite.”

Satellite-as-a-service!

Scientists can now visualize multiple applications of AI on satellites.

For example, the satellite, during one orbit, could switch from spotting wildfires on land to rogue ships or environmental accidents at sea such as oil spills.

It could measure crops and soil moisture over farms and forests, and assess the ill effect of climate change on melting ice caps.

Related Story:   Satellites and AI Could Together Predict Wildfires Accurately

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

Shape

Latest Alternative Investment News

Source: https://dailyalts.com/intel-first-to-deploy-ai-on-edge-in-space/

Continue Reading
Venture Capital3 mins ago

Venture Capital3 mins ago

Venture Capital3 mins ago

Venture Capital3 mins ago

Venture Capital3 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Saas4 mins ago

Startup6 mins ago

President Trump’s campaign website hacked by cryptocurrency scammers

Press Releases15 mins ago

Mirati Therapeutics Announces Pricing Of Public Offering Of Common Stock

Press Releases17 mins ago

3Q20 Results: Telefônica Brasil S.A.

Press Releases18 mins ago

Historical Barriers And Structural Inequalities Still Account For Black-White Homeownership Gap

Press Releases19 mins ago

The MICHELIN Guide Highlights Sustainable Gastronomy and Inspector Discoveries During Virtual Family Meal Event in California

Press Releases19 mins ago

Clements Worldwide reçoit la distinction Best Practices Agency de l’IIABA pour la 14e année de suite

Press Releases37 mins ago

Oral Rinse COVID PCR Test Immediately Available in Nevada for Individuals, Businesses and Medical Personnel

Press Releases58 mins ago

Bogino Properties offering an effective three-step process for selling houses in Atlanta for homeowners dealing with stressful situations.

Press Releases1 hour ago

D&D Movers offering affordable options along with an experienced team to help families and businesses make moves stress-free.

Venture Capital1 hour ago

Accelerating digital transformation strategy to support SMEs customers to thrive

Press Releases1 hour ago

Renowned Age Management Pioneer Dr. Gaines in Boca Raton is Helping Alzheimer’s Patients With Plasma Treatments

Startup2 hours ago

New CDC data shows that hospitals counted heart attacks as COVID-19 deaths; CDC counts over 51,0000 patients actually died from heart attacks instead of COVID-19

Press Releases2 hours ago

One Artist is Getting Creative During the COVID-19 Quarantine

Venture Capital2 hours ago

Australian fintechs proving resilient

Venture Capital2 hours ago

Illion Open Data and Credit Simple become CDR recipients

Venture Capital2 hours ago

Uno pilots new broker referral model

Saas2 hours ago

How do you decide between hiring a VP or Director/Manager of Product?

Press Releases3 hours ago

Workers’ Compensation Insurance MGU Method Adds Falls Lake as New Carrier

Press Releases3 hours ago

Neo7Logix COVID-19 Treatment Reduces Viral Infection by More Than 99% in Preclinical Study

Blockchain3 hours ago

Huobi adds Visa and Mastercard support for cryptocurrency transactions

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Trending