iOS 7 Shows Interest In Apple Pre-Release Software On The Rise, Per Onswipe

TechCrunch

Apple’s iOS 7 is growing quickly with more tablets and iPhones running the beta software than were running iOS 6 at the same time last year, according to new data released by mobile web optimizing company Onswipe. The startup found that by July 1, 2013, 0.28 percent of all iPad visits to its mobile-optimized sites were from devices running iOS 7, and as of June 17, 0.77 percent of all iPhones making Onswipe visits were also on the new beta OS.

Compared to iOS 6, those numbers, while small, have increased considerably. 0.19 percent of all iPad visits were on last year’s beta software as of June 25, and only 0.38 percent, or under half of iPhones ran the pre-release mobile OS. All together, iOS 7 accounts for 0.46 percent of total traffic to Onswipe sites as of this writing, while iOS 6 was responsible for just 0.25 percent…

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Exit Q&A — Demotix Founder Turi Munthe Gives His Advice On How To Build A Startup

TechCrunch

Back in November last year image giant Corbis acquired Demotix, the crowd-sourced breaking news picture and video agency which had launched in 2008. We present for you a lighting fast ‘exit Q&A’ with founder and former CEO Turi Munthe, who has since left to pursue new projects.

Demotix sold to Bill Gates’ Corbis, the second biggest picture library in the world, in November 2012. On the way, since their launch in January 2009, they built a community of about 40,000 people in every corner of the globe, providing them with a platform to tell stories that nobody else could – or often would – cover. They broke over 1 million news images, reported 100,000+ news stories, published scoops from Iran to Oslo and sold their community’s work all over the world, shipping hundreds of thousands of dollars per year to a network of freelancers from Haiti to Zimbabwe…

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Zuckerberg Launches A Tech Lobby, But What Will It Do Differently?

What will FWD.us do differently ?

TechCrunch

Facebook founder Mark Zuckerberg made headlines today on the announcement of his new technology lobby, FWD.us, that he formed with his powerful Silicon Valley friends. But, behind the starstruck stories of DC’s new power players, it should be noted that the technology industry already has a litany of lobbies, comprised of the same board members as FWD.us, who have been active in politics for years. Before everyone gets carried away, it’s worth understanding what tech money has gotten Silicon Valley already and what FWD.us will need to do to distinguish itself.

What Already Exists

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The technology industry is handsomely represented in the halls of Congress. According to OpenSecrets, the industry’s lobbying coffers shoveled out $202 million in 2012, almost twice as much as in 2004 ($105M). Facebook even has its own Political Action Committee to fund specific candidates. And, to be sure, most major tech corporations have swanky DC…

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Bitcoin Price-Drop Caused By Rush Of Interest, Not DDOS, Says Mt.Gox Exchange; Newcomers Now Opening ~20k Accounts Per Day

TechCrunch

The Bitcoin correction we wrote about yesterday was not caused by a DDOS attack on one of the largest Bitcoin exchanges, Mt.Gox, but rather by a massive spike in interest in the crypto currency, according to Mt.Gox.

During trading yesterday the value of Bitcoin plummet by 60%, dropping from a high of $265 to around $150 (at the time of writing it has climbed back up slightly, to around $180). As the value of Bitcoin dropped, San Francisco-based exchange called TradeHill claimed the fall was a result of distributed denial of service attacks on Mt. Gox and Bitstamp.

But Mt.Gox has now posted a notice on its Facebook page explaining the dramatic dive as the result of too much interest in Bitcoin. As its infrastructure slowed down under the volume of new users crowding in, it said the resulting lag then caused traders to panic and sell off currency —…

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Why are VCs putting money into Quora when there are no plans for a revenue stream?

Answer by Jason M. Lemkin:

The basic idea of "tornado" investing (Geoffrey Moore's term) is to delay monetization in B2C investing if monetizing ihibits massive userbase "hypergrowth" (ultimately to a Top 50-100 or better website to make this work).  If monetization inhibits the "tornado", the rapid switch to a new paradigm from the niche-adoption phase of "The Bowling Alley" (which would be easy to monetize, albiet not to massive levels) … it isn't worth it.

It justifies not just Quora, but perhaps even more relevantly, Twitter, Instagram, Pinterest, Tumblr, etc.  Pinterest was apparently valued at well over a billion dollars without a revenue stream.

It does make sense, albiet there can only be a handful of success stories here.

But just one pretty much makes the math work.  Facebook is the greatest VC investment of all time, so far.

What takes guts is investing before the Tornado.  That's investing in Quora, which is still a (well populated) Bowling Alley.  But if you invest after the Tornado, it's not only obvious … it's too late.

Given the track record of the Quora team, and its obvious and early Bowling Alley success … it seems like a fair bet. 

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