Author: Neuralnexus

Months after acquiring Evernote, Milan-based app developer Bending Spoons has made significant cuts at the note-taking and task management app. The layoffs, which took place on Friday, February 17, affected 129 people.

The Reason Behind the Cuts

According to an Evernote spokesperson, the decision was "difficult yet necessary" as the company pursues its ambitious plans for a revamped Evernote experience. The spokesperson stated that the company has been unprofitable for years and that the situation became unsustainable in the long term.

While the exact departments impacted by the layoffs remain unclear, posts on LinkedIn and Blind suggest that core teams, including product design, engineering, HR, sales, customer service, and marketing, were affected.

Evernote’s Turbulent Past

Evernote has had its share of ups and downs over the past few decades. The company underwent mass layoffs in 2015 and 2018, with top executives leaving their positions. However, Evernote seemed to turn things around more or less, reporting $100 million in annual recurring revenue (ARR) within the last five years.

Bending Spoons’ Investment

It’s unlikely that Bending Spoons, the corporate parent, was struggling financially. The company recently closed a $340 million venture round and surpassed $100 million in ARR last September. This suggests that the cuts might be part of Bending Spoons’ plan to prime Evernote for profitability.

Pressure from Investors

Bending Spoons was bootstrapped until relatively recently, but it’s possible that the company feels additional pressure from investors to show a quick return on its investment. No doubt, the corporate parent wants to ensure a successful outcome for its acquisition.

Evernote’s Competitiveness

Despite its reported high ARR, Evernote largely failed to keep pace with competitors like Notion. The company relied heavily on a consumer-focused freemium model while eschewing collaboration features that its rivals have adopted.

The Human Cost

Staffers are the unfortunate casualties of these circumstances. It remains to be seen how this move will impact the future of Evernote and Bending Spoons’ plans for the app.

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In a move to further enhance the customer experience, Apple is expanding its personalization options for consumers. As part of this effort, the company has announced the launch of Apple Watch Studio, which allows users to create their own custom Apple Watch case and band pairings.

A New Era of Customization

For years, Apple Watch owners have been limited to choosing from a pre-designed set of case and band combinations. However, with the introduction of Apple Watch Studio, consumers will now be able to pick and choose the exact combination they desire. This new experience is made possible by an expanded array of case and band styles, which number over 1,000 variations.

A New Level of Personalization

According to Deirdre O’Brien, Senior Vice President of Retail + People at Apple, "Apple has always been the best place to help you customize and personalize your products. And now we’re going to take it even further with Apple Watch."

The new Apple Watch Studio experience will be available starting with the launch of Apple Watch Series 5, which was also announced today at an Apple press event in Cupertino. The Series 5 will feature aluminum models in silver, gold, and space gray, as well as stainless steel models in gold, silver, and space black. A ceramic model will come in white, and an all-new titanium model will be available.

A Range of New Band Styles

In addition to the new case options, Apple has also introduced a range of new band styles that complement the colors of the iPhone 11 line. The fall collection includes bands featuring deeper jewel tones like pine green, midnight blue, and aubergine (purple), alongside brighter colors like lemons and oranges.

Trying Out Apple Watch Studio

Apple will still sell pre-designed case and band pairings on its website, but users can now try out the new Apple Watch Studio experience by scrolling down to the bottom of the page. The site displays an image of an Apple Watch that can be customized by selecting the size, case, and band.

A Seamless Shopping Experience

The customization options appear in a horizontal scroll bar, allowing users to easily tweak the design by clicking over to the next option on the right or left. When finished, users simply click "I’m Done" and complete the checkout process.

A Small Change with Big Impact

While this may seem like a small change, it could have a significant impact on the number of customers choosing bands made by Apple instead of third-party knockoffs. With the ability to pick their preferred combination at purchase, consumers will be more likely to choose an Apple-made band that they actually like.

The Future of Personalization

As technology continues to evolve and consumer preferences shift, it’s clear that personalization will play a larger role in driving sales and customer satisfaction. By investing in Apple Watch Studio, Apple is demonstrating its commitment to delivering a seamless and personalized experience for its customers.

Apple Watch Series 5: A New Era of Excellence

The Apple Watch Series 5 marks a significant milestone in the evolution of smartwatches. With its sleek design, advanced features, and expanded personalization options, it’s no wonder that this latest iteration is generating so much excitement among tech enthusiasts and everyday users alike.

Conclusion

As Apple continues to push the boundaries of innovation and customer experience, it’s clear that the future of technology will be shaped by a commitment to personalization. With Apple Watch Studio, consumers now have more options than ever before to customize their Apple Watch and make it truly their own.

Related Topics:

• Apple Hardware Event 2019
• Apple Watch
• Hardware
• Watch

About the Author:

Sarah Perez is a Consumer News Editor at TechCrunch. With over three years of experience as a reporter, she has a deep understanding of the tech industry and its latest developments.

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Introduction

In the world of blockchain-based businesses, financial service providers, and banks, Know Your Customer (KYC) processes are an essential requirement. However, traditional KYC solutions have their limitations when it comes to scalability, efficiency, and security. The rise of blockchain technology has brought about a new era in KYC solutions, offering more advanced and robust approaches to customer verification.

The Need for Advanced KYC Solutions

Traditional KYC solutions rely on manual processes, such as document review and identity verification, which can be time-consuming and prone to errors. These limitations have led to the development of more advanced KYC solutions that leverage blockchain technology to create secure, decentralized, and scalable verification systems.

Blockchain-Based KYC Solutions: A New Era

Blockchain-based KYC solutions offer several benefits over traditional approaches:

• Security: Blockchain technology provides a secure and tamper-proof way to store and verify customer data.
• Scalability: Blockchain-based KYC solutions can handle large volumes of transactions and user verification, making them ideal for high-traffic applications.
• Efficiency: Automated processes reduce the time and effort required for manual document review and identity verification.

The Role of On-Chain KYC

On-chain KYC is a key component of blockchain-based KYC solutions. This approach involves storing customer data on the blockchain, where it can be securely accessed and verified by authorized parties.

Benefits of on-chain KYC include:

• Immutable data storage: Customer data is stored in a tamper-proof manner, ensuring its integrity and security.
• Real-time verification: Authorized parties can verify customer data in real-time, reducing the risk of errors and delays.
• Decentralized access: On-chain KYC enables decentralized access to customer data, allowing multiple parties to verify and update information.

Key Considerations for Implementing On-Chain KYC

When implementing on-chain KYC solutions, businesses must consider several key factors:

1. Blockchain selection: Choose a blockchain that supports KYC functionality and has a strong track record of security and scalability.
2. KYC vendor selection: Partner with a reputable KYC vendor that offers advanced on-chain KYC solutions.
3. Regulatory compliance: Ensure that the on-chain KYC solution complies with relevant regulations, such as AML (Anti-Money Laundering) and GDPR (General Data Protection Regulation).
4. User adoption: Educate customers about the benefits of on-chain KYC and ensure a seamless user experience.

Conclusion

The evolution of KYC solutions in blockchain-based businesses is an exciting development that offers several benefits over traditional approaches. By leveraging advanced technologies like blockchain and on-chain KYC, businesses can create secure, scalable, and efficient verification systems that meet the needs of modern customers.

Future Directions for On-Chain KYC

As blockchain technology continues to mature, we can expect significant advancements in on-chain KYC solutions. Some potential future directions include:

• Increased adoption: More businesses will adopt on-chain KYC solutions as they become aware of their benefits.
• Improved security: Advancements in blockchain security and cryptography will further enhance the security of on-chain KYC solutions.
• Expanded use cases: On-chain KYC will be applied to new industries and applications, such as healthcare, finance, and government services.

The Future of On-Chain KYC

As we move forward, it is essential for businesses to stay informed about the latest developments in on-chain KYC solutions. By doing so, they can ensure that their verification systems remain secure, scalable, and efficient.

Common Misconceptions About Blockchain-Based KYC Solutions

• Security: Some people believe that blockchain-based KYC solutions are less secure than traditional approaches.
• Scalability: Others assume that blockchain-based KYC solutions cannot handle large volumes of transactions.
• Regulatory compliance: A few individuals may be unsure about the regulatory implications of implementing on-chain KYC solutions.

Addressing these Misconceptions

To address these misconceptions, it is essential to educate stakeholders about the benefits and limitations of blockchain-based KYC solutions. This can be achieved through:

1. Information sharing: Provide transparent information about the implementation and operation of on-chain KYC solutions.
2. Stakeholder engagement: Engage with regulatory bodies, industry experts, and customers to discuss their concerns and needs.
3. Best practices: Establish and promote best practices for implementing and maintaining on-chain KYC solutions.

Conclusion

By addressing common misconceptions about blockchain-based KYC solutions, we can ensure that these technologies are implemented in a responsible and effective manner. This will ultimately lead to more secure, scalable, and efficient verification systems that meet the needs of modern customers.

The Road Ahead for On-Chain KYC Solutions

As we move forward, it is essential to prioritize education, engagement, and innovation when developing on-chain KYC solutions. By doing so, we can ensure that these technologies are used to create secure, scalable, and efficient verification systems that benefit both businesses and customers.

Common Challenges in Implementing On-Chain KYC Solutions

• Regulatory uncertainty: Businesses may struggle with regulatory requirements and compliance when implementing on-chain KYC solutions.
• Scalability limitations: The scalability of blockchain technology can be a challenge for high-traffic applications.
• Security risks: Businesses must address potential security risks associated with storing sensitive customer data on the blockchain.

Addressing these Challenges

To address these challenges, businesses can:

1. Engage with regulatory bodies: Collaborate with regulatory agencies to ensure that on-chain KYC solutions comply with relevant regulations.
2. Invest in scalability solutions: Implement scalable solutions that can handle large volumes of transactions and user verification.
3. Prioritize security: Develop robust security measures to protect sensitive customer data stored on the blockchain.

Conclusion

By addressing common challenges associated with implementing on-chain KYC solutions, businesses can ensure that these technologies are used effectively and efficiently.

The Future of On-Chain KYC Solutions

As we move forward, it is essential to prioritize education, engagement, and innovation when developing on-chain KYC solutions. By doing so, we can create secure, scalable, and efficient verification systems that benefit both businesses and customers.

Best Practices for Implementing On-Chain KYC Solutions

• Regulatory compliance: Ensure that the on-chain KYC solution complies with relevant regulations.
• Scalability testing: Conduct thorough scalability testing to ensure that the solution can handle large volumes of transactions.
• Security audits: Regularly perform security audits to identify and address potential vulnerabilities.

Conclusion

By following best practices for implementing on-chain KYC solutions, businesses can create secure, scalable, and efficient verification systems that meet the needs of modern customers.

The House of Representatives has established a Task Force on artificial intelligence, aimed at ensuring America continues leading in this strategic area. However, the announcement feels more like a punt after years of indecision that show no sign of ending.

A Mixed Reaction to the Task Force

In one sense, this task force – chaired by California Reps Ted Lieu and Jay Obernolte – is a welcome sign of Congress doing something, anything, on an important topic that has become the darling of tech investment. However, in another more important way, it comes off as lip service at a time when many feel AI and tech are running circles around regulators and lawmakers.

The Partisan Divide and Its Implications

The dispiriting partisanship and obstruction on display every day in Congress render any notion that this task force would produce anything of value at any time, let alone during a historically divisive election year, quaint. The statement by Rep. Obernolte, "As new innovations in AI continue to emerge, Congress and our partners in federal government must keep up," rings hollow given the lack of concrete action.

The Role of Congress in Regulating AI

Rep. Lieu’s assertion that "AI has the capability of changing our lives as we know it" is undeniable. However, ensuring AI benefits society instead of harming us will not be an easy or quick task, and Congress must play a crucial role in shaping its future. Despite Rep. Lieu’s optimism about bipartisan agreement, the White House, numerous agencies, the EU, and countless other authorities have already issued comprehensive reports and recommended legislative actions.

A Symbolic Gesture Rather Than Substantive Action

The announcement of the task force seems to be a realization by Congress that it was the last substantive entity to act on this industry-reshaping force. Representatives reached across the aisle to pat each other on the back for taking the smallest possible step toward future legislation.

Kicking the Can Down the Road?

However, with Congress dysfunctional and all eyes on the 2024 presidential election, this task force is just a way of kicking the can down the road until they know what they can get away with under the coming administration. Studying AI and its risks and benefits is not a bad thing – but it’s a little late in the day to be announcing it.

A Skeptical View

The task force is long overdue, and as such, we may welcome it but also treat it with the same skepticism that lawmaker pandering deserves. Everyone involved will point to it when asked why they haven’t acted on AI, which many voters fear is coming for their jobs or automating processes that once had a purposeful human touch.

A Delayed Response

The announcement of the task force kept expectations low with no timeline or deliverables that voters or watchdogs can hold them to. Even the report they seek to produce has no concrete goals or timelines, which only adds to the skepticism surrounding this effort.

Regulatory Uncertainty Ahead

Furthermore, considering expert agencies are at risk of declawing via Supreme Court decision, it is hard to even imagine what a regulatory structure would look like a year from now. Want the FTC, FCC, SEC, EPA or anyone else to help out? They may be judicially restrained from doing so come 2025.

A Lack of Urgency

Perhaps this task force is Congress’s admission that during such tumultuous times and lacking any real urgency, they are simply paying lip service to the issue rather than taking concrete action.

Not every startup can reach its full potential or even survive on its own. Venture capital puts a lot of emphasis on startups achieving unicorn status or exiting through an Initial Public Offering (IPO), largely because such successes are crucial for making the venture model work. However, this focus makes it easy to overlook the fact that many companies would see more success if they were acquired or combined with other startups.

The Muse’s Journey to Consolidation

Kathryn Minshew, co-founder and CEO of The Muse, started thinking about consolidation a year ago when her startup had been around for a decade. After a year of floating the idea of consolidation to other targeted recruitment platforms, her company, which helps users find jobs based on company culture and what they value, made its first acquisition.

The Acquisition: A New Era for The Muse

This morning, The New York-based startup announced it has acquired Fairygodmother, a recruitment platform aimed at women and working mothers. The purchase price was undisclosed, and parties declined to comment on it, but a source familiar with the transactions said it was a mix of cash and stock. Fairygodboss is producing about $10 million in yearly revenue, which implies the purchase price was presumably favorable.

The Need for Consolidation in HR Tech

Minshew stated that this will likely be the first transaction of many for The Muse because the recruitment tech space is in dire need of consolidation. "There was a massive inflow into HR tech and the future of work over the last several years that has led to a lot of innovation," Minshew told TechCrunch. "A lot of companies have been founded and have grown, and on one hand, that’s fantastic that there is so much more energy and innovation in the space, but on the flip side, it was creating a situation that was really overwhelming for buyers."

The Problem with Fragmentation

Specifically, there has been an influx of startups looking to help larger companies recruit from specific demographics. To name a few: Jopwell focuses on recruiting Black, Latinx and Native American individuals; The Mom Project is centered around working parents; and RippleMatch targets Gen Z job seekers, among others.

Minshew said that one of The Muse’s main customers works with 37 different recruitment platforms and he’s been told there is no more budget — understandably — to add any others. This implies that many of these startups lose out on potential customers because they operate as separate entities.

A Constellation Approach to Leadership

Minshew explained, "We’re seeing a trend where companies are looking for more comprehensive solutions. They want to work with one partner who can provide them with all the tools and resources they need to succeed in their recruitment efforts." She continued, "That’s why we’re taking a constellation approach to leadership, bringing together multiple companies under one roof to create a more cohesive and effective solution."

The Future of HR Tech: Consolidation and Innovation

As the industry continues to evolve, it will be interesting to see how The Muse’s acquisition strategy plays out. Will other startups follow suit, or will they continue to focus on competing with each other? One thing is certain, though – consolidation is here to stay.

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This article is part of our coverage on consolidation in HR tech, which can be found here: https://www.techcrunch.com/tag/consolidation-in-hr-tech/

Luminar Makes a Push into China’s Auto Market with Lidar Technology

A New Era of Automated and Autonomous Driving in China

The world’s largest auto market, China, is racing to put automated and autonomous driving vehicles on the road. Luminar, a Nasdaq-listed lidar maker from Florida, is making a significant push into this lucrative market. By 2028, more than 1 million Luminar-equipped cars will be on the road in China, according to Austin Russell, founder and CEO of Luminar.

A Growing Demand for Smarter Cars in China

China’s enormous car market, with over 500 million drivers, is a coveted place for foreign automakers and suppliers. Much of Tesla’s meteoric rise has been credited to its success in China, which now accounts for more than half of its deliveries and has become a major manufacturing hub for the EV behemoth.

Chinese consumers are also willing to pay for smarter cars. A survey conducted by McKinsey & Company in 2021 found that 60% of Chinese consumers were likely to buy a Level 4 advanced highway pilot for less than $10,000, compared to 57% in the U.S. and only 36% in Germany.

Luminar Teams Up with TPK to Expand Manufacturing Capacity

To meet the growing demand for lidar sensors in Asia, Luminar has teamed up with Taiwan’s TPK, a key touch-screen supplier to Apple and Tesla. The partnership will enable Luminar to build and operate an additional high-volume factory driven by rapidly growing demand for Luminar in Asia.

The new facility, located in Xiamen of China’s southeast Fujian Province, is expected to produce up to 600,000 lidar sensors annually to serve clients such as Mercedes-Benz. The German automaker has signed a multibillion-dollar deal with Luminar to use its lidars in next-gen vehicles.

A Big Part of Luminar’s Sales Will Come from China

China will play a significant role in Luminar’s sales, with the majority of its production vehicle models designed into the Chinese market. In fact, over 20 production vehicle models that Luminar is designed into are slated for the Chinese market.

Volvo Unveils Its All-Electric SUV EX90 Excellence with Luminar Lidars

At Auto Shanghai, Volvo unveiled its all-electric SUV EX90 Excellence, which will come equipped with Luminar’s lidars. The EX90 Excellence will be the first vehicle to hit the streets in China featuring Luminar’s advanced safety capabilities.

Luminar Faces Domestic Competitors in China

However, Luminar faces a host of domestic competitors in China, including Hesai, which just went public in the U.S., RoboSense, which has secured a long-term partnership with Chinese automaker Geely, and other local players.

A New Era of Automated and Autonomous Driving in China

Luminar’s push into China’s auto market marks a significant step forward for automated and autonomous driving in the country. With its advanced lidar technology, Luminar is poised to play a leading role in shaping the future of transportation in China.

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