Monthly Archives: January 2021

In April 2020, when the entire world was laser-focused on the coronavirus pandemic, we realized that startupland was in unprecedented territory. How should startups navigate fundraising, operations, and better understand the market?

In a matter of a couple weeks, we spun up a little series called Extra Crunch Live, giving Extra Crunch members the chance to hear from and connect with leaders across the industry. We brought on some of the biggest names in tech and VC, including the likes of Roelof Botha, Kirsten Green, Zach Perret, Charles Hudson, Aileen Lee, Mark Cuban, Howard Lerman, Niko Bonatsos and Alexa Von Tobel and the list could go on and on and on.

Somehow, we did 44 episodes of the show in 2020, the year of our Lord.

By any measure, its been a huge success. But were not ones to rest on our laurels here at TechCrunch. Which is why Im thrilled to announce Extra Crunch Live 2.0.

In 2021, well be tweaking the format of ECL to provide even more interactivity between founders and audience members and the speakers we host on the show. Youre going to love it.

Whats New:

Were super excited about our ECL plans for 2021 and we hope you are, too. More on upcoming speakers soon.

Remember, Extra Crunch Live events are for EC members only, so if you havent joined Extra Crunch, get over here!

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Extra Crunch Live is back in 2021, connecting founders with tech giants and each other - TechCrunch

TipRanks

Theres a strong feeling growing among investors of relief that the new year will feature lower volatility than 2020. That along would be enough to boost spirits, but better yet, there is also a perception that the markets are going to drive higher in the new year.Marko Kolanovic, JPMorgans well-known quant expert, sees the initial stages of a positive feedback loop, with lower volatility and systematic investment strategies coming together to drive gains, attracting more investors and, in Kolanovics view, pushing the S&P 500 to 4,600 by years end. That will be a 25% increase for the index.A general market environment like that is bound to produce plenty of stock winners, and Wall Streets analysts are busy pointing them out. Among other things, they are tapping penny stocks, equities priced at less than $5 per share. Their rock-bottom starting price makes pennies the logical place to look for huge returns on investment. Although their risk factor is high, even a small gain in absolute numbers will turn into a massive percentage gain in share price.Using TipRanks database, we identified two penny stocks the pros believe could see explosive gains in the coming months. Not to mention each one gets a Strong Buy consensus rating from the analyst community.9 Meters Biopharma (NMTR)Some biopharma companies take a broad-based approach, while others focus on a niche. 9 Meters is one of the latter, taking aim at unmet needs for gastrointestinal patients. The companys development pipeline features drug candidates under investigation as treatments for short bowel syndrome (SBS) and celiac disease (CeD), two conditions that are both dangerous and difficult to treat.Drilling down to pipeline details, 9 Meters flagship product, Larazotide, is in Phase 3 development for the treatment of CeD. CeD affects about 1% of the population, yet there are no approved therapies. Top-line data from the study is expected in the second half of 2021.Furthermore, this past December, the company announced that it had entered an agreement with EBRIS, the European Biomedical Research Institute of Salerno, to investigate Larazotide as a potential treatment for respiratory complications due to COVID-19.The other major drug in the companys pipeline is NM-002, for SBS. The company has recently announced positive Phase 1b/2a results, with a measurable impact on disease symptoms from a compound that was well-tolerated by patients.NMTRs strong pipeline and $0.89 share price have scored it substantial praise from the pros on Wall Street.One of these NMTR bulls is Truists Srikripa Devarakonda. Citing Larazotide as a key component of his bullish thesis, the analyst noted, We acknowledge investors are likely to see a pivotal trial in a tough-to-crack Celiac disease program as high risk despite encouraging Ph2b data. We model $705M/$353M in peak unadjusted/adjusted sales and see potential upside of 400% - 1650% from positive Ph3 readout.Devarakonda also sees significant unmet need in SBS and continues to believe that NM-002 has a differentiated profile vs. SOC. His key takeaways from the recent Phase 1b/2a results include: 1) we believe that the drug showed early activity in SBS patients; all 9 patients showed meaningful reduction in total stool output volume; average TSO reduction was 42% from baseline; 2) responses occur rapidly, with effects on TSO seen within 48 hours of dosing; 3) safety profile looks favorable, we would like to see greater durability.To this end, Devarakonda rates NMTR shares a Buy along with a $5 price target. This figure conveys his confidence in NMTRs ability to soar 462% in the coming year. (To watch Devarakondas track record, click here)Turning now to the rest of the Street, other analysts are on the same page. With 4 Buys and no Holds or Sells, the word on the Street is that NMTR is a Strong Buy. Given its $4.33 average price target, upside of 386% could be in store for investors. (See NMTR stock analysis on TipRanks)Orchard Therapeutics (ORTX)Orchard Therapeutics takes the broad-based approach to the biopharma industry. The company is engaged in the development of gene therapies for rare, frequently terminal, diseases, including neurometabolic disorders, primary immune deficiencies, and blood disorders. The gene therapy approach uses blood stem cells to deliver corrected genetic information directly into the patients body.Orchards pipeline demonstrates the diversity of disorders amenable to gene therapy the company has no less than 12 drug candidates in development. Among these candidates, Libmeldy (OTL-200) stands out.Libmeldy is in commercialization stages as a treatment for MLD (metachromatic leukodystrophy), a rare, mutation-based genetic disorder of the nervous system. Libmeldy, which is designed to treat children suffering from the infantile for juvenile forms of MLD by replacing the defective ARSA gene, received its approval for medical use in the EU in December 2020.Wedbush analyst David Nierengarten notes the European approval of Libmeldy, and its implication for Orchards progress. He writes, We look forward to the companys commercial execution in the EU and an eventual 2022 approval in the US. Last month ORTX received IND clearance from the FDA for the program paving the way for discussions with the US regulators to decide a suitable path forward toward a BLA filing."Net-net, with possibly two gene therapies approved in the next 12-18 months and a pivotal study beginning in a third (MPS-I), we think ORTX shares are undervalued at these levels," the analyst concluded. In line with his bullish comments, Nierengarten rates ORTX as Outperform (i.e. Buy), and his $15 price target indicates a potential for 241% growth in the year ahead. (To watch Nierengartens track record, click here)Do other analysts agree with Nierengarten? They do. Only Buy ratings, 3, in fact, have been issued in the last three months. Therefore, ORTX gets a Strong Buy consensus rating. At $15, the average price target indicates shares could appreciate by 241% in the year ahead. (See ORTX stock analysis on TipRanks)To find good ideas for penny stocks trading at attractive valuations, visit TipRanks Best Stocks to Buy, a newly launched tool that unites all of TipRanks equity insights.Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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Democratic sweep in the Senate would be 'clear negative' for Big Tech: Dan Ives - Yahoo Tech

As the pandemic renders physical product testing a thing of the past, top tech giants are doubling down on virtual makeup try-on to drive e-commerce sales.

In December, both Snapchat and Google launched AR makeup try-on initiatives with beauty tech partners. Google announced its new AR makeup tool on December 17 via partnerships with Perfect Corp and LOral Group-owned ModiFace. It allows users to access virtual try-on for specific beauty products in Googles mobile app via its main search or Google Shopping. Snapchat, meanwhile, announced on December 10 its new partnership with Perfect Corp that will go into effect on a date early this year, according to a company spokesperson. It will allow brands to incorporate their Perfect Corp makeup try-on as a Snapchat Lens and create a virtual storefront.

These partnerships are going to expose Perfect Corps technology to a broader audience, said Perfect Corp founder and CEO Alice Chang, who said they will make virtual try-on experiences the norm for consumers. During the pandemic, Perfect Corp has seen a 32% increase in consumer use of virtual try-on. She noted that conversations with both Google and Snapchat began in 2019, but were accelerated by Covid-19.

Brands offering the AR try-on via Google include those from the LOral Group and Este Lauder Companies portfolios, as well as independent labels like Blk/Opl. Some of the products available for try-on include Nars Multi-Use Gloss, Revlon Lip Polish Vinyl Ultra HD, NYX Vivid Brights Creme Colour and Urban Decay Liquid Moondust Eyeshadow.

Lubomira Rochet, chief digital officer of LOral, said the Google feature is aimed at making online shopping more convenient and fun.

Virtual try-on is also a much-needed attempt to solve for the halted sampling, associate consultations and sales done in store.

Even before the pandemic, people were growing apprehensive to community testers and hygiene worries, said Chang. With the rise of global health concerns surrounding the pandemic, physical testers are quickly being replaced by hyper-realistic digital try-on experiences. Perfect Corps business model includes both B2B and B2C components, with over 300 B2B brand partners such as Este Lauder and Nars, and 900 million global downloads of its own app.

Technology services like Googles virtual try-on and augmented reality are changing the landscape of online shopping in the beauty industry, and proving to be highly successful digital tactics especially as [shoppers] preferences and expectations shift due to the global pandemic, said Salima Popatia, svp for global customer acquisition and retention at The Este Lauder Companies.

All beauty brands working with Perfect Corp will have the option to incorporate the AR try-on into Snapchat. According to Carolina Arguelles Navas, head of product marketing for augmented reality at Snap Inc., the new partnership will save [brands] time and money based on what theyve already created, increase their reach with an extremely engaged community and allow them to learn about their audience through Snapchats insights. Prior to the Perfect Corp partnership, Snapchat had already partnered with beauty brands including Sally Hansen and NYX for virtual try-on.

On Snapchat, brands can use the AR feature to drive both brand awareness and conversions. According to Navas,Snapchat campaigns that include shoppable AR Lenses see a 2.4-times higher action intent lift, compared to the Q3 average.

Snapchats development of e-commerce is part of a broader push among social platforms to develop social shopping. The app added in-app shopping in 2018 and has been expanding shopping features since then. Instagram, meanwhile, has especially doubled down on shopping features during the pandemic, while TikTok launched livestream shopping in December. Snapchat most recently reported that it has 249 million daily active users in total, while TikTok has reported over 50 million daily active users for just the U.S. Facebook has not shared user numbers for Instagram in 2020, but it reported 1 billion monthly active users in 2018.

Chang noted that the technology will be especially valuable in drugstore and online retail environments, which werent able to offer this type of experimentation.

Virtual beauty is no longer a nice to have for beauty brands and retailers; its a must have, she said.

Excerpt from:

Google and Snapchat turn to beauty tech for AR makeup try-on - Glossy

Firsthand Funds co-founder and President Kevin Landis on investing in tech in 2021 from streaming platforms and electric vehicles to exercise tech.

Should the Senate come under Democratic control, which ishow the polls are trending, this would be viewed as a negative for the Big Tech companies, such asApple, Amazon, Facebook and Google, one analyst believes.

Hence the drop in the Nasdaq Composite Wednesday.

Wedbush Securities analyst Dan Ives said it's likely there will be "much more scrutiny and sharper teeth around FAANG names" with both houses of thelegislativebranch under Democratic control.

"While momentum for business model breakups of FAANG names have been gaining steam over the past few years within the Beltway and EU, it lacked any political strength to make significant changes outside of political grandstanding events," Ives wrote in a note to clients."This all changes now in the eyes of the Street with the risk of business model scrutiny from tech giants Amazon, Google, Apple, and Facebook now in a brighter spotlight, which adds more risk to the overall tech sector in our opinion."

SILICON VALLEY COMPANIES TOP LIST OF SOURCES FOR OSSOFF DONORS

Wedbush has outperform ratings on the aforementioned companies, with a $160 price target on Apple, a $3,900 price target on Amazon, a $320 price target on Facebook and a $1,850 price target on Google-parent companyAlphabet.

Fox Newsprojectsthat Democratic challenger Raphael Warnock defeated incumbent Republican Sen. Kelly Loeffler, while the race between RepublicanDavid Perdue and Democratic challenger Jon Ossoff was too close to call.

Earlier this week, FOX Business reported thatGeorgiaDemocrats Ossoff and Warnock benefited from donations coming out of Silicon Valley, ascompanies likeAppleandAmazonwere at the top of the lists for sources of donations to their campaigns.

Aggregated data from the Center for Responsive Politics showed that Ossoffreceivednearly $952,685 from peopleassociated with Alphabet Inc.,$295,794 fromApple, $275,864 from Microsoft, $225,313 from Facebookand$255,115 from Amazon.

Those five companies comprised five of Ossoff's top six donation sources. The University of Calfornia was the exception at number two. The same was true for Warnock, who received $747,340 from Alphabet, $392,942 from the University of California, $233,187 from Apple, $222,348 from Amazonand $174,394 from Facebook.

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Though the Senate coming under Democratic control could be seen as a "political shocker" according to Ives, the analyst believes that "major legislative changes and breakups" will be difficult to achieve, given the slim majority that would be held by the party.

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"We still remain firmly bullish on tech stocks for 2021, however, the Senate turning Blue could tame the tech rally until the Street gets a better sense of the legislative agenda under Biden heading into the rest of 2021/2022," Ives added.

Though the Big Tech companies may experience negative investor sentiment in the interim, Ives believes it could be a windfall for those with electric vehicle exposure, such as Tesla, General Motors and suppliers, as a "more green-driven agenda" is in the cards over the next few years.

"We believe a doubling down on EV tax credits and further consumer incentives and government initiatives around the EV sector will be on the horizon which is a major positive for Tesla, GM, Fisker, and other auto players/EV supply chain (QS, etc.)," Ives added.

FOX Business' Samuel Dorman contributed to this story.

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Georgia elections, blue wave bad for Big Tech, analyst says - Fox Business

It was hard not to feel emotional today, as the world watched for more than four hours as rioters stormed into and throughout the Capitol building in Washington to disrupt the certification of the election win of incoming U.S. President-Elect Joe Biden. Theyd been encouraged earlier in the afternoon by outgoing President Donald Trump to head to the building and protest what he falsely claimed yet again was a stolen election, a lie he began to spread the evening of the U.S. election in November.

While members of Congress called on Trump to make a statement rebuking the rioters actions from their undisclosed locations, he instead encouraged his supporters over Twitter, writing of the sacred landslide election victory that was so unceremoniously & viciously stripped away from great patriots and later posting a video in which repeated his lies about a landslide election that was stolen from us.

It was the first time in American history that supporters of the losing presidential candidate forcibly disrupted the official counting of electoral votes, as noted earlier in the evening by PBS. And while Trumps tweets were later deleted by Twitter for repeated and severe violations of our Civic Integrity policy, the move was viewed by many as too little and too late, including by Silicon Valley investors, a wide number of whom let loose their fury toward the outgoing administration and its enablers.

A lingering question is whether the ignominious day one on which a dozen Senate Republicans and dozens more Republican House members had planned to object to the certification of the election results will begin to polarize people further or whether, following Trumps departure, some of that fury begins to subside instead.

Some investors, at least, say their anger has always had more to do with basic human decency, which seemed frequently to take a backseat during the Trump administration.

Deena Shakir of Lux Capital used to work for the Obama administration and is transparent about her political perspective on Twitter. But she says of todays events that they are not about politics. What we have witnessed is an affront to democracy, an assault on American history, and a gruesome reflection of the divided nation we live in.

Hunter Walk who cofounded the venture firm Homebrew and today tweeted, dont be putting [Trump son-in-law and White House advisor] Jared Kushner on cap tables when this is all said and done echoes the sentiment. Im not afraid to have a strong public voice on issues I consider to be urgent and essential human rights questions.

As for whether the shock of today might make it harder to fund or partner with a team who supported Trumps ascendency, Walk suggests it wont, that business is business. We fund wonderful entrepreneurs and employ no purity tests on whether they agree with us 100%. Im certain weve backed people who sit to our political left and to our political right thats not an issue for us and not an issue for them.

To the extent that Walks public political stance may turn off some talented founders who would just prefer their investors shut up and write checks, thats ok, too, says Walk. We dont believe we need to compromise our values in order to be successful.

Shakir meanwhile suggests that she doesnt always have the luxury of tuning out politics entirely. For one thing, she considers those who terrorized the nations capital all afternoon angered perpetrators of a jingoistic, supremacist ideology that is not only normalized but actually incited by the highest branch of our government and amplified via social media.

More, she notes, Given my focus on healthcare, so much of my own thesis development and so many of my conversations have inevitably been informed by the pandemic, whichfor better or worsehas become politicized.

Try as she might to bifurcate politics from work, its futile right now, Shakir says. These events and policies inform our present and our future, affect the markets that value our companies, and contribute to trends and white spaces.

Today, she adds, they also reflect our values as a nation and as human beings.

Read more here:

VCs dispense with niceties during Capitol riots: Never talk to me again - TechCrunch

Facebook and YouTube have removed a video posted by President Trump telling rioters who stormed Congress we love you. The same video was left online but blocked from being shared by Twitter just minutes ago.

A great deal of video and content from the chaotic scene in Washington, D.C. can be found on social media, but Trumps commentary was spare. His posts suggested the rioters remain peaceful, well after they had broken into the Capitol buildings and Congress had been evacuated.

At about 5 PM Eastern time, Trump posted a video in which he reiterated that the election was stolen but that you have to go home now. Go home, we love you. Youre very special.

On Twitter this was soon restricted, with a large warning that this Tweet cant be replied to, Retweeted, or liked due to a risk of violence.

Guy Rosen, VP of Integrity at Facebook, wrote on Twitter that this is an emergency situation and we are taking appropriate emergency measures, including removing President Trumps video. We removed it because on balance we believe it contributes to rather than diminishes the risk of ongoing violence.

At Facebook there is some precedent for one of Trumps posts being removed. In August, the company took down a video in which Trump stated that children were almost immune to COVID-19, a dangerous and false claim not supported by science.

As Twitter and Facebook crafted bespoke policies to address threats to the election leading into November, YouTube mostly remained quiet. In early December, a month after the election, the company announced that it would begin removing content that made false claims that the U.S. election was affected by widespread fraud or errors. YouTubes decision to remove the presidents video on Wednesday aligned with that policy.

We removed a video posted this afternoon to Donald Trumps channel that violated our policies regarding content that alleges widespread fraud or errors changed the outcome of the 2020 U.S. Election, a YouTube spokesperson told TechCrunch, noting that the video is allowed if accompanied by proper context for educational value.

This story is developing.

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Facebook and YouTube remove Trump video calling extremists special - TechCrunch