All 50 startups from Y Combinator’s Summer 2017 Demo Day 1Biotech and artificial intelligence have emerged as the top startup trends at Y Combinator‘s 25th Demo Day. The 124 companies presenting at the entrepreneur school’s twice-yearly graduation event compose YC’s largest batch from its 12.5 years running. YC partner Michael Seibel kicked off the event by reiterating the accelerator’s commitment to advancing diversity in Silicon Valley. In this class, 12 percent of the founders are female and 9.5 percent are black or latinx. While those percentages have been pretty stable over the years, YC shines in its inclusion of international startups. In part thanks to outreach via its scalable online Startup School and global events, with 28 percent of this batch’s startups based internationally. [ Tech Crunch ] Ellen Pao is the talk of Silicon Valley, againEllen Pao's lawsuit may have been ahead of its time, but her book could hardly come at a more critical time.
A new study says more teens than expected are leaving Facebook for Instagram and SnapchatTeens are leaving Facebook faster than expected, according to a new study from research firm eMarketer. The study estimates that Facebook’s user base among 12- to 17-year-olds in the U.S. will shrink by 3.4 percent in 2017, the first time eMarketer has predicted a decline in Facebook usage for any age group. The company said that it “reduced its usage estimates” for Facebook, but didn’t share what the previous estimates were and did not immediately reply to a request for clarification. The firm also said its estimates for usage among users 18- to 24-years-old “will grow more slowly than previously forecast, too.” [ Recode ] What Edith Yeung of 500 Startups Is Cooking Up in VC Edith Yeung is head of the Chinese branch of 500 startups, one of the world's broadest venture capital funds. She sits down with Globalive Chairman Anthony Lacavera to discuss her vision for 500 Startups in China. [ Bloomberg ]Kleiner Perkins to invest $40 million in Tulip.ioTulip.io Inc., whose mobile software allows sales associates and retailers to engage more effectively with customers, has raised $40 million in a new round of venture-capital financing led by Kleiner Perkins Caufield & Byers. The financing, which marks Kleiner Perkins' largest investment in a Canadian technology startup, will help Tulip double its staff, expand to retailers in Europe, South America and Asia as well as develop its software for other industries such as the hospitality sector. Toronto-based Tulip provides a platform that gives sales associates real-time access to consumer preferences and customer data on a mobile or tablet device. The company's software is already being used by major U.S. retailers such as Hudson's Bay Co.'s Saks Fifth Avenue and Coach Inc., and is used across 25 countries and in 7 languages. It is also a member of Apple Inc.'s Mobility Partner Program alongside International Business Machines Corp., Cisco Systems Inc. and SAP SE. [ Marketwatch ] Here’s How Long The Average Employee Lasts At Facebook, Google, Amazon, Apple And Other Tech CompaniesFrequent job hopping has become the norm across the tech industry. We examine average employee tenure rates among the top 5 companies in tech, alongside other well-known tech players like Microsoft and Uber. [ CB Insights ] E756: Jim Clark (Netscape, Silicon Graphics) launches CommandScape, shares future of security, jobsVictoria’s startups well supported but more must be done to boost diversity and access to talent, report findsHealth, enterprise and corporate, and media and entertainment are the three biggest sectors for Victoria’s tech ecosystem, representing a combined 33 percent of the state’s startups, while health alone provides 26 percent of jobs in the space, according to a new report. The report, Mapping Victoria’s Ecosystem, is a result of a survey produced by LaunchVic in collaboration with Startup Victoria and dandolopartners, which polled over 1600 companies across the state. Student loan platform Prodigy Finance raises $240 million in debt and equity funding Prodigy Finance, a UK fintech company that provides loans to students, has raised $240 million in debt and equity funding. The round of funding is made up of $200 million in debt led by an unnamed global investment bank and a Series C round of $40 million in equity led by Index Ventures with participation from Balderton Capital and AlphaCode. [ Tech.eu ] Mark Cuban backs new $20 million cryptocurrency venture fund
‘Pitch the Immeasurable’ and Other Leadership TipsEventbrite. Airbnb. Vanessa Hope Schneider has helped grow some of the household names in technology. But if you ask her about an executive who's made a lasting impression on her, she summons the name of Louise Brockett. Those in tech may not recognize the name, but Brockett is the long-time executive director of publicity at W.W. Norton, an elite book publisher. But to Schneider, Brockett was the institution. [ FirstRound ] Databricks CEO Sees 'Huge' Potential for AIPayments frenzy continues as TransferWise nears $1.5B valuationWhy Uber's Latest Fight Could Get All Sides HurtUber Technologies Inc. has been plagued for months by a steady drumbeat of bad news. Allegations of sexual harassment by employees, a federal probe into software designed to bypass regulators and a lawsuit involving Alphabet Inc.’s Waymo unit led to co-founder Travis Kalanick’s departure in June. The latest challenge is a lawsuit against Kalanick by Uber’s largest shareholder, the venture capital firm Benchmark. The case comes at a perilous juncture for the ride-hailing company. It also signals an end to the blank check on behavior that venture firms have long given startup founders like Kalanick. [ Bloomberg ] The Two Most Common Mistakes Growth Stage Founders MakeThis 23-year-old just closed her second fund — which is focused on aging — with $22 millionWill Chinese Venture Capitalists Overtake The Americans?If you’re working in tech and carefully follow venture capital, you can’t ignore what’s happening in China. Silicon Valley Bank has a footprint in the two most dominant VC markets—the U.S. is #1 and China is a close #2. SVB thrives on knowing the similarities, differences, and needs of these ecosystems. They just concluded a study of Chinese Venture Capital dynamics. I spoke to Sean Lawson, Senior Manager of SVB Analytics about their findings and the implications for global innovation. [ Forbes ] Identity Thieves Hijack Cellphone Accounts to Go After Virtual Currency Gawker has been gone for a year. We’ve never needed it more than now.This Is What Social Media Superstars Can Teach You About Building InfluenceChinese cities are saying “enough already” to bike-sharing services run rampant |