Monthly Archives: November 2018

DoJ charges Autonomy founder with fraud over $11BN sale to HP

Posted by on 30 November, 2018

This post was originally published on this site

UK entrepreneur turned billionaire investor, Mike Lynch, has been charged with fraud in US over the 2011 sale of his enterprise software company.

Lynch sold Autonomy, the big data company he founded back in 1996, to computer giant HP for around $11BN some seven years ago.

But within a year around three-quarters of the value of the business had been written off, with HP accusing Autonomy’s management of accounting misrepresentations and disclosure failures.

Lynch has always rejected the allegations, and after HP sought to sue him in UK courts he countersued in 2015.

Meanwhile the UK’s own Serious Fraud Office dropped an investigation into the Autonomy sale in 2015 — finding “insufficient evidence for a realistic prospect of conviction”.

But now the DoJ has filed charges in a San Francisco court, accusing Lynch and other senior Autonomy executives of making false statement that inflated the value of the company.

They face 14 counts of conspiracy and fraud, according to Reuters — a charge which carries a maximum penalty of 20 years in prison.

We’ve reached out to Lynch’s fund, Invoke Capital, for comment on the latest development.

The BBC has obtained a statement from his lawyers, Chris Morvillo of Clifford Chance and Reid Weingarten of Steptoe & Johnson, which describes the indictment as “a travesty of justice”.

The statement also claims Lynch is being made a scapegoat for HP’s failures, framing the allegations as a business dispute over the application of UK accounting standards. 

Two years ago we interviewed Lynch on stage at TechCrunch Disrupt London and he mocked the morass of allegations still swirling around the acquisition as “spin and bullshit”.

Following the latest developments, the BBC reports that Lynch has stepped down as a scientific adviser to the UK government.

“Dr. Lynch has decided to resign his membership of the CST [Council for Science and Technology] with immediate effect. We appreciate the valuable contribution he has made to the CST in recent years,” a government spokesperson told it.

Posted Under: Tech News
Enterprise AR is an opportunity to “do well by doing good”, says General Catalyst

Posted by on 30 November, 2018

This post was originally published on this site

A founder-investor panel on augmented reality (AR) technology here at TechCrunch Disrupt Berlin suggests growth hopes for the space have regrouped around enterprise use-cases, after the VR consumer hype cycle landed with yet another flop in the proverbial ‘trough of disillusionment’.

Matt Miesnieks, CEO of mobile AR startup 6d.ai, conceded the space has generally been on another downer but argued it’s coming out of its third hype cycle now with fresh b2b opportunities on the horizon.

6d.ai investor General Catalyst‘s Niko Bonatsos was also on stage, and both suggested the challenge for AR startups is figuring out how to build for enterprises so the b2b market can carry the mixed reality torch forward.

“From my point of view the fact that Apple, Google, Microsoft, have made such big commitments to the space is very reassuring over the long term,” said Miesnieks. “Similar to the smartphone industry ten years ago we’re just gradually seeing all the different pieces come together. And as those pieces mature we’ll eventually, over the next few years, see it sort of coalesce into an iPhone moment.”

“I’m still really positive,” he continued. “I don’t think anyone should be looking for some sort of big consumer hit product yet but in verticals in enterprise, and in some of the core tech enablers, some of the tool spaces, there’s really big opportunities there.”

Investors shot the arrow over the target where consumer VR/AR is concerned because they’d underestimated how challenging the content piece is, Bonatsos suggested.

“I think what we got wrong is probably the belief that we thought more indie developers would have come into the space and that by now we would probably have, I don’t know, another ten Pokémon-type consumer massive hit applications. This is not happening yet,” he said.

“I thought we’d have a few more games because games always lead the adoption to new technology platforms. But in the enterprise this is very, very exciting.”

“For sure also it’s clear that in order to have the iPhone moment we probably need to have much better hardware capabilities,” he added, suggesting everyone is looking to the likes of Apple to drive that forward in the future. On the plus side he said current sentiment is “much, much much better than what it was a year ago”.

Discussing potential b2b applications for AR tech one idea Miesnieks suggested is for transportation platforms that want to link a rider to the location of an on-demand and/or autonomous vehicle.

Another area of opportunity he sees is working with hardware companies — to add spacial awareness to devices such as smartphones and drones to expand their capabilities.

More generally they mentioned training for technical teams, field sales and collaborative use-cases as areas with strong potential.

“There are interesting applications in pharma, oil & gas where, with the aid of the technology, you can do very detailed stuff that you couldn’t do before because… you can follow everything on your screen and you can use your hands to do whatever it is you need to be doing,” said Bonatsos. “So that’s really, really exciting.

“These are some of the applications that I’ve seen. But it’s early days. I haven’t seen a lot of products in the space. It’s more like there’s one dev shop is working with the chief innovation officer of one specific company that is much more forward thinking and they want to come up with a really early demo.

“Now we’re seeing some early stage tech startups that are trying to attack these problems. The good news is that good dollars is being invested in trying to solve some of these problems — and whoever figures out how to get dollars from the… bigger companies, these are real enterprise businesses to be built. So I’m very excited about that.”

At the same time, the panel delved into some of the complexities and social challenges facing technologists as they try to integrate blended reality into, well, the real deal.

Including raising the spectre of Black Mirror style dystopia once smartphones can recognize and track moving objects in a scene — and 6d.ai’s tech shows that’s coming.

Miesnieks showed a brief video demo of 3D technology running live on a smartphone that’s able to identify cars and people moving through the scene in real time.

“Our team were able to solve this problem probably a year ahead of where the rest of the world is at. And it’s exciting. If we showed this to anyone who really knows 3D they’d literally jump out of the chair. But… it opens up all of these potentially unintended consequences,” he said.

“We’re wrestling with what might this be used for. Sure it’s going to make Pokémon game more fun. It could also let a blind person walk down the street and have awareness of cars and people and they may not need a cane or something.

“But it could let you like tap and literally have people be removed from your field of view and so you only see the type of people that you want to look at. Which can be dystopian.”

He pointed to issues being faced by the broader technology industry now, around social impacts and areas like privacy, adding: “We’re seeing some of the social impacts of how this stuff can go wrong, even if you assume good intentions.

“These sort of breakthroughs that we’re having are definitely causing us to be aware of the responsibility we have to think a bit more deeply about how this might be used for the things we didn’t expect.”

From the investor point of view Bonatsos said his thesis for enterprise AR has to be similarly sensitive to the world around the tech.

“It’s more about can we find the domain experts, people like Matt, that are going to do well by doing good. Because there are a tonne of different parameters to think about here and have the credibility in the market to make it happen,” he suggested, noting: “It‘s much more like traditional enterprise investing.”

“This is a great opportunity to use this new technology to do well by doing good,” Bonatsos continued. “So the responsibility is here from day one to think about privacy, to think about all the fake stuff that we could empower, what do we want to do, what do we want to limit? As well as, as we’re creating this massive, augmented reality, 3D version of the world — like who is going to own it, and share all this wealth? How do we make sure that there’s going to be a whole new ecosystem that everybody can take part of it. It’s very interesting stuff to think about.”

“Even if we do exactly what we think is right, and we assume that we have good intentions, it’s a big grey area in lots of ways and we’re going to make lots of mistakes,” conceded Miesnieks, after discussing some of the steps 6d.ai has taken to try to reduce privacy risks around its technology — such as local processing coupled with anonymizing/obfuscating any data that is taken off the phone.

“When [mistakes] happen — not if, when — all that we’re going to be able to rely on is our values as a company and the trust that we’ve built with the community by saying these are our values and then actually living up to them. So people can trust us to live up to those values. And that whole domain of startups figuring out values, communicating values and looking at this sort of abstract ‘soft’ layer — I think startups as an industry have done a really bad job of that.

“Even big companies. There’d only a handful that you could say… are pretty clear on their values. But for AR and this emerging tech domain it’s going to be, ultimately, the core that people trust us.”

Bonatsos also pointed to rising political risk as a major headwind for startups in this space — noting how China’s government has decided to regulate the gaming market because of social impacts.

“That’s unbelievable. This is where we’re heading with the technology world right now. Because we’ve truly made it. We’ve become mainstream. We’re the incumbents. Anything we build has huge, huge intended and unintended consequences,” he said.

“Having a government that regulates how many games that can be built or how many games can be released — like that’s incredible. No company had to think of that before as a risk. But when people are spending so many hours and so much money on the tech products they are using every day. This is the [inevitable] next step.”

Posted Under: Tech News
New AWS tool helps customers understand best cloud practices

Posted by on 29 November, 2018

This post was originally published on this site

Since 2015, AWS has had a team of solution architects working with customers to make sure they are using AWS services in a way that meets best practices around a set of defined criteria. Today, the company announced a new Well Architected tool that helps customers do this themselves in an automated way without the help of a human consultant.

As Amazon CTO Werner Vogels said in his keynote address at AWS re:Invent in Las Vegas, it’s hard to scale a human team inside the company to meet the needs of thousands of customers, especially when so many want to be sure they are complying with these best practices. He indicated that they even brought on a network of certified partners to help, but it still has not been enough to meet demand.

In typical AWS fashion, they decided to create a service to help customers measure how well they are doing in terms of operations, security, reliability, cost optimization and performance efficiency. Customers can run this tool against the AWS services they are using and get a full report of how they measure up against these five factors.

“I think of it as a way to make sure that you are using the cloud right, and that you are using it well,” Jeff Barr wrote in a blog post introducing the new service.

Instead of working with a human to analyze your systems, you answer a series of questions and then generate a report based on those answers. When the process is complete you generate a pdf report with all of the recommendations for your particular situation.

Image: AWS

While it’s doubtful that such an approach can be as comprehensive as a conversation between client and consultant, it is a starting point to at least get you on the road to thinking about such things, and as a free service, you have little to lose by at least trying the tool and seeing what it tells you.

more AWS re:Invent 2018 coverage

Posted Under: Tech News
AWS announces a slew of new Lambda features

Posted by on 29 November, 2018

This post was originally published on this site

AWS launched Lambda in 2015 and with it helped popularize serverless computing. You simply write code (event triggers) and AWS deals with whatever compute, memory and storage you need to make that work. Today at AWS re:Invent in Las Vegas, the company announced several new features to make it more developer friendly, while acknowledging that even while serverless reduced complexity, it still requires more sophisticated tools as it matures

It’s called serverless because you don’t have to worry about the underlying servers. The cloud vendors take care of all that for you, serving whatever resources you need to run your event and no more. It means you no longer have to worry about coding for all your infrastructure and you only pay for the computing you need at any given moment to make the application work.

The way AWS works is that it tends to release something, then builds more functionality on top of a base service as it sees increasing requirements as customers use it. As Werner Vogels pointed out in his keynote on Thursday, developers debate about tools and everyone has their own idea of what tools they bring to the task every day.

For starters, they decided to please the language folks introducing support for new languages. Those developers who use Ruby can now use Ruby Support for AWS Lambda. “Now it’s possible to write Lambda functions as idiomatic Ruby code, and run them on AWS. The AWS SDK for Ruby is included in the Lambda execution environment by default,” Chris Munns from AWS wrote in a blog post introducing the new language support.

If C++ is your thing, AWS announced C++ Lambda Runtime. If neither of those match your programming language tastes, AWS opened it up for just about any language with the new Lambda Runtime API, which Danilo Poccia from AWS described in a blog post as “a simple interface to use any programming language, or a specific language version, for developing your functions.”

AWS didn’t want to stop with languages though. They also recognize that even though Lambda (and serverless in general) is designed to remove a level of complexity for developers, that doesn’t mean that all serverless applications consist of simple event triggers. As developers build more sophisticated serverless apps, they have to bring in system components and compose multiple pieces together, as Amazon CTO Werner Vogels explained in his keynote today.

To address this requirement, the company introduced Lambda Layers, which they describe as “a way to centrally manage code and data that is shared across multiple functions.” This could be custom code used by multiple functions or a way to share code used to simplify business logic.

As Lambda matures, developer requirements grow and these announcements and others are part of trying to meet those needs.

more AWS re:Invent 2018 coverage

Posted Under: Tech News
AWS launches a managed Kafka service

Posted by on 29 November, 2018

This post was originally published on this site

Kafka is an open-source tool for handling incoming streams of data. Like virtually all powerful tools, it’s somewhat hard to set up and manage. Today, Amazon’s AWS is making this all a bit easier for its users with the launch of Amazon Managed Streaming for Kafka. That’s a mouthful, but it’s essentially Kafka as a fully managed, highly available service on AWS. It’s now available on AWS as a public preview.

As AWS CTO Werner Vogels noted in his AWS re:Invent keynote, Kafka users traditionally had to do a lot of heavy lifting to set up a cluster on AWS and to ensure that it could scale and handle failures. “It’s a nightmare having to restart all the cluster and the main nodes,” he said. “This is what I would call the traditional heavy lifting that AWS is really good at solving for you.”

It’s interesting to see AWS launch this service, given that it already offers a very similar tool in Kinesis, a tool that also focuses on ingesting streaming data. There are plenty of applications on the market today that already use Kafka, and AWS is clearly interested in giving those users a pathway to either move to a managed Kafka service or to AWS in general.

As with all things AWS, the pricing is a bit complicated, but a basic Kafka instance will start at $0.21 per hour. You’re not likely to just use one instance, so for a somewhat useful setup with three brokers and a good amount of storage and some other fees, you’ll quickly pay well over $500 per month.

more AWS re:Invent 2018 coverage

Posted Under: Tech News
Asana, a work management platform, nabs $50M growth round at a $1.5B valuation

Posted by on 29 November, 2018

This post was originally published on this site

Asana, a service that teams and individuals use to plan and track the progress of work projects, is doubling down on its own project: to shape “the future of work,” in the words of co-founder and CEO Dustin Moskovitz. The startup, whose products are used by millions of free and paying users, today is announcing that it has raised another $50 million in funding — a Series E that catapults Asana into unicorn status with a $1.5 billion valuation — to invest in international and product expansion.

Asana has been on a funding tear: It raised $75 million just 11 months ago at a $900 million post-money valuation, bringing the total this year to $125 million, and $213 million since being founded in 2008.

Led by Generation Investment Management — the London firm co-founded by former US Vice President Al Gore that also led that Series D in January — this latest round also includes existing investors 8VC, Benchmark Capital and Founders Fund as well as new investors Lead Edge Capital and World Innovation Lab.

Asana has lately been focused on international growth — half of its new sales are already coming from outside the US — and expanding its product as it inches toward profitability. These are the areas where its latest investment will go, too.

Specifically, it plans to open an AWS-based data center in Frankfurt in the first half of next year, and it will set down more roots in Asia-Pacific, with offices in Sydney and Tokyo. It is also hiring in both markets. Asana has customers in 195 countries and six languages, and it looks like it’s homing in on these two regions because it’s seeing the most traction there.

On the product side, the company has been gradually adding machine learning, predictive and other AI features and it will continue to do that as part of a “long-term vision for marrying computer and human intelligence to run entire companies.”

“Our role is to help leaders understand where their attention can be most useful and what to be focused on,” Moskovitz, pictured right with co-founder Justin Rosenstein, said to me in an interview earlier this month when describing the company’s AI push.

The funding caps off an active year for Asana.

In addition to raising $75 million in January, it announced 50,000 paying organizations and “millions” of free users in September. It also introduced new products and features, such as a paid tier, Asana for Business, for larger organizations managing multiple projects; Timelines for drilling into sequential tasks and milestones; and its first steps into AI, services that start to anticipate what users need to see first and prioritise, based on previous behaviour, which team the user is on, and so on:

Asana has been close to profitability this year, although it doesn’t look like it has quite reached that point yet. Moskovitz told me that in fact, it has held on to most of its previous funding (that’s before embarking on this next wave of ambitious expansions, though).

“We have so much money in the bank that we have quite a lot of options [and are in a] strong position so choose what makes the most sense strategically,” he said. “We’ve been fortunate with investors. The prime thing is vision match: do they think about the long-term future in the same way we do? Do they have the same values and priorities? Generation nailed that on so many levels as a firm.”

How Asana fits into the mix with Slack, Box and others

Asana’s growth and mission both mirror trends in the wider world of enterprise IT and collaboration within it.

Slack, Microsoft Teams, Workplace from Facebook and other messaging and chat apps have transformed how coworkers communicate with each other, both within single offices and across wider geographies: they have replaced email, phone and other communication channels to some extent.

Meanwhile, the rise of cloud-based services like Dropbox, Box, Google Cloud, AWS and Microsoft’s Azure have transformed how people in organizations manage and ultimately collaborate on files: the rise of mobile and mobile working have increased the need for more flexible file management and access.

The third area that has been less covered is work management: as people continue to multitask on multiple projects – partly spurred by the rise in the other two collaboration categories – they need a platform that helps keep them organised and on top of all that work. This is where Asana sits.

“We think about collaboration as three markets,” Moskovitz said, “file collaboration, messaging, and work management. Each of these has a massive surface area and depth to them. We think it’s important that all companies have tools that they use from each of these big buckets.”

It is not the only one in that big bucket.

Asana alternatives include Airtable, Wrike, Trello and Basecamp. As we have pointed out before, that competitive pressure is another reason Asana is on the path to continue growing and making its service more sticky.

Indeed, just earlier this month Airtable raised $100 million at a $1.1 billion valuation. Airtable has a different approach – its platform can be used for more than project management – but it’s most definitely used to build templates precisely to track projects.

You might even argue that Airtable’s existing offering could present a type of product roadmap for what might be considered next for Asana.

For now, though, Asana is building up big customers for its existing services.

The product initially got its start when Moskovitz and Rosenstein – as respectively as co-founder and early employee of Facebook – built something to help their coworkers  at the social network manage their workloads. Now, it has a range of users that include a number of other tech firms, but also others.

London’s National Gallery, for example, uses Asana to plan and launch exhibitions and business projects; the supermarket chain Tesco’s digital campaigns; Sony Music, which also uses it for marketing management but also to track a digitization project for its back music catalog; Uber, which has managed some 600 city expansions through Asana to date.

“At Generation Investment Management, we’re grounded in the philosophy that through strategic investments in leading, mission-driven companies we can move towards a more sustainable future,” said Colin le Duc, co-founder and partner, Generation Investment Management, in a statement.

“We see Collaborative Work Management as a distinct and rapidly expanding segment, and Asana has the right product and team to lead the market. Through Dustin and the team, Asana is changing how businesses around the world collaborate, epitomizing what it means to deliver results with a mission-driven ethos.”

Posted Under: Tech News
AWS is bringing the cloud on prem with Outposts

Posted by on 28 November, 2018

This post was originally published on this site

AWS has always been the pure cloud vendor, and even though it has given a nod to hybrid, it is now fully embracing it. Today in conjunction with VMware, it announced a pair of options to bring AWS into the data center.

Yes, you read it correctly. You can now put AWS into your data center with AWS hardware, the same design they use in their own data centers. The two new products are part of AWS Outposts.

There are two Outposts variations — VMware Cloud on AWS Outposts and AWS Outposts. The first uses the VMware control panel. The second allows customers to run compute and storage on premises using the same AWS APIs that are used in the AWS cloud.

In fact, VMware CEO Pat  Gelsinger joined AWS CEO Andy Jassy onstage at AWS re:Invent for a joint announcement. The two companies have been working together for some time to bring VMware to the AWS cloud. Part of this announcement flips that on its head, bringing the AWS cloud on prem to work with VMware. In both cases, AWS sells you their hardware, installs it if you wish, and will even maintain it for you.

This is an area that AWS has lagged, preferring the vision of a cloud, rather than moving back to the data center, but it’s a tacit acknowledgment that customers want to operate in both places for the foreseeable future.

The announcement also extends the company’s cloud-native-like vision. On Monday, the company announced Transit Gateways, which is designed to provide a single way to manage network resources, whether they live in the cloud or on prem.

Now AWS is bringing its cloud on prem, something that Microsoft, Canonical, Oracle and others have had for some time. It’s worth noting that today’s announcement is a public preview. The actual release is expected in the second half of next year.

more AWS re:Invent 2018 coverage

Posted Under: Tech News
AWS Textract brings intelligence to OCR

Posted by on 28 November, 2018

This post was originally published on this site

One of the challenges just about every business faces is converting forms to a useful digital format. This has typically involved using human data entry clerks to enter the data into the computer. State of the art involved using OCR to read forms automatically, but AWS CEO Andy Jassy explained that OCR is basically just a dumb text reader. It doesn’t recognize text types. Amazon wanted to change that and today it announced Textract, an intelligent OCR tool to move data from forms to a more useable digital format.

In an example, he showed a form with tables. Regular OCR didn’t recognize the table and interpreted it as a string of text. Textract is designed to recognize common page elements like a table and pull the data in a sensible way.

Jassy said that forms also often change and if you are using a template as a work-around for OCR’s lack of intelligence, the template breaks if you move anything. To fix that, Textract is smart enough to understand common data types like social security numbers, dates of birth and addresses and it interprets them correctly no matter where they fall on the page.

“We have taught Textract to recognize this set of characters is a date of birth and this is a social security number. If forms change Textract won’t miss it,” Jassy explained

more AWS re:Invent 2018 coverage

Posted Under: Tech News
AWS announces new Inferentia machine learning chip

Posted by on 28 November, 2018

This post was originally published on this site

AWS is not content to cede any part of any market to any company. When it comes to machine learning chips, names like Nvidia or Google come to mind, but today at AWS re:Invent in Las Vegas, the company announced a new dedicated machine learning chip of its own called Inferentia.

“Inferentia will be a very high throughput low-latency, sustained performance very cost-effective processor,” AWS CEO Andy Jassy explained during the announcement.

Holger Mueller, an analyst with Constellation Research says that while Amazon is far behind, this is a good step for them as companies try to differentiate their machine learning approaches in the future.

“The speed and cost of running machine learning operations — ideally in deep learning — are a competitive differentiator for enterprises. Speed advantages will make or break success of enterprises (and nations when you think of warfare). That speed can only be achieved with custom hardware, and Inferentia is AWS’s first step to get in to this game,” Mueller told TechCrunch. As he pointed out, Google has a 2-3 year head start with its TPU infrastructure.

Inferentia supports popular frameworks like INT8, FP16 and and mixed precision. What’s more, it supports multiple machine learning frameworks including Tensorflow, Caffe2 and ONNX.

Of course, being an Amazon product, it also supports data from popular AWS products such as EC2, Sagemaker and the new Elastic Inference Engine announced today

While the chip was announced today, AWS CEO Andy Jassy indicated it won’t actually be available until next year.

more AWS re:Invent 2018 coverage

Posted Under: Tech News
AWS launches a managed blockchain service

Posted by on 28 November, 2018

This post was originally published on this site

It was only a year ago that AWS CEO Andy Jassy said that he wasn’t all that interested in blockchain services. Clearly something has changed over the course of the last year because today, the company is launching two new blockchain services: Quantum Ledger Database and Amazon Managed Blockchain.

As the name implies, AWS Managed Blockchain is a managed blockchain service. It supports Ethereum and Hyperledger Fabric.

“This service is going to make it much easier for you to use the two most popular blockchain frameworks,” said AWS CEO Andy Jassy. He noted that companies tend to use Hyperledger Fabric when they know the number of members in their blockchain network and want robust private operations and capabilities. AWS promises that the service will scale to thousands of applications and will allow users to run millions of transactions (though the company didn’t say with what kind of latency).

Support for Hyperledger Fabric is available today. Ethereum support is launching a few months from now.

Getting started with Managed Blockchain is a matter of using the AWS Console and configuring nodes, adding members and deploying applications.

“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted,” said Jassy. “And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”

more AWS re:Invent 2018 coverage

Posted Under: Tech News
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