8 Best WordPress Hosting Solutions on the Market Why Tech Companies Need Simpler Terms of Servic… Tags:#Analysis#start bernard lunn Related Posts Top Reasons to Go With Managed WordPress Hosting The Facebook Rounds of InvestmentData courtesy of VC Experts Valuation and Terms database.Our Theory on This Investment and Twitter’s Game PlanThese high-profile deals have “optics” (i.e. the PR or headline story for public consumption) and fundamentals (i.e. how the investors actually make money). They are very different.The key to the fundamentals is the Liquidation Preference. We touched on this in one of our “Startup 101” chapters: How to Scale Without Losing Your Shirt. Basically, upon exit, the investors get their money out before the entrepreneurs do. That’s reasonable. For example, the Twitter team has not actually built a business worth $1 billion; it is only saying it can do so (with some credibility).So, the investors putting in $100 million have their risk (or downside) covered. The only way they can lose money is if Twitter sells for less than $100 million, which is pretty unlikely… not impossible, but unlikely. But if it sells for $100 million, then all of the other investors lose everything. The exit valuation has to be higher than $157.97 million (total money invested) for the founders and management team to see a dime.So, with their downside covered, investors can focus on the upside. This is where optics matter. With this deal, the entrepreneurs can say the following to any potential acquirers:“Negotiations have to start at $1 billion. It clearly cannot be lower than that,” and“We have a long runway. If you don’t do this deal now, the price will only be higher later.”In this case, the optics are critical. Although the investors in this latest round have protected their downside, they won’t see any upside unless the exit valuation is greater than $1 billion. By putting in a large amount (which they cannot really lose), the investors help to ensure that the exit valuation is high.Ideally, Twitter will exit before revenue, when revenue potential is unlimited. As soon as actual revenue comes in, three bad things happen:Acquirers say, “Let’s wait and see how this pans out.”Costs go up: you have paying customers who demand real service.Revenue targets may go south. Exponential hockey-stick growth is hard enough for a free service (kudos to Twitter for doing that brilliantly) but way, way harder when money changes hands. Real money (not investment money) paid by someone to Twitter becomes friction. Twitter ceases to be a friction-less flywheel.Twitter does have enough cash now to execute on a revenue plan and outlast acquirers who like to sit on the fence. So any way you look at it, this is a smart deal. It is not “evil”: this is all business between consenting adults. Evil would be selling stock to “widows and orphans” in the public market who (A) don’t have Preference and (B) don’t have the means to evaluate the risk on a deal like this. That was Bubble 1.0, and it won’t happen again. This is not Bubble 2.0. This is fundamentally different, even if the optics may look similar.So What Do the Investment Facts Say?Enough about theory, what do the facts tell us?Yes, the Series E investors (the ones that just put in $100 million) get Liquidation Preference. Look at the line for the current round that says Liquidation Preference. If it says “Senior,” then they get their money out first. If it says Pari Passu, then all investors get their money out equally (i.e. all investors get their money out before the founders and managers).But they get only 1x Preference. They don’t get money back plus interest. Nor do they get 2x or 3x. Hint to entrepreneurs: any time you see 2x or 3x, run a mile!What Is the Difference With Facebook?All of the Facebook rounds are Pari Passu. What that really means is that earlier investors in Facebook have more clout. They have bigger funds and can essentially say, “If you don’t do this, we will.” The small funds that invested in Twitter early on, such as Union Square Ventures (USV), cannot meaningfully invest in a $100 million round without Twitter becoming too big a percentage of their portfolio. But based on the valuation it invested in early on, USV will make out big time on any exit over $200 million.The Great Facebook vs. Twitter Exit GameThis is high-stakes poker. Facebook has the potential to do an IPO. It has enough revenue and has at least neutral cash flow. With its actual finances not being in the public domain, we don’t really know how good Facebook’s finances are and therefore cannot know how ready it is to do an IPO. But that’s not a problem; it has enough cash in the bank to wait until it’s ready.So, any company that really wants to buy Facebook and keep it from doing an IPO will have to pay big time. Only two acquirers are motivated enough and big enough to do this: Google and Microsoft.Where does that leave Twitter? The $100 million round helps a lot. It is for show, not for spending. It has enough cash for negotiating clout. Facebook would cost Google or Microsoft way more than Twitter. If one of them bought Facebook, Twitter would be even more valuable to the other.If Facebook does an IPO, Twitter’s valuation would go up based on that public market comparable.We cannot bet on this in the public markets, so we can only have fun watching the game.How Does Perception of the Founders’ Motivations Influence the Game?In poker, perception matters. What you think the other person will do affects how you play your hand.The exit valuation depends in part on how credible is the founder’s drive to remain independent. Do acquirers really believe the founders are sincere in their stated desire to remain independent by going all the way to IPO? If the acquirer believes that the founder’s desire to remain independent is very strong, then it will raise its bid. So, who does the market see as being more driven to remain independent: Mark Zuckerberg of Facebook or Ev Williams and Biz Stone of Twitter?We asked Greg Boutin of Growthroute Ventures to comment on this part of the game. This is what he had to say:“My perception of Ev Williams/Biz Stone is that they are not in it for the journey, but for the destination. Any way I look at it, those guys are not geek visionaries with a mission; they are money-driven. They’ll flip Twitter to the highest bidder, if there is one. They know everyone is questioning Twitter’s potential for revenue creation, and the hype effect will die out in a matter of months. Twitter has mostly unfolded during the crisis; being in SF has sure influenced their thinking. And unlike Facebook with its platform status, it really has only so many options to create revenue, none of which is likely to support the valuation.”Greg thinks that Mark Zuckerberg is a different story:“Zuckerberg strikes me as someone who is driven less by the money – especially now that Facebook is turning a profit – than by the visceral “geek need” to prove he’s smarter. He’s demonstrated a strong desire to grow Facebook into the next big thing and I’d say even challenge Google for domination of the Internet.”Greg is willing to stick his neck out and make a prediction: “Twitter will sell next year for $2.5 billion to Google (or some other company that can come up with that kind of money). And Facebook will IPO.”He also thinks the high price will be based on non-rational factors: “They want to acquire it for the trophy factor, like top lawyers fighting to get the most expensive downtown offices. It’s an ego and brand thing.”What Insights Do You Get from This Data?We hope that people who are better qualified than us can describe what is significant in these deal terms, apart from the obviously high valuation.What jumps out at you from this data? How do you think this will play out? A Web Developer’s New Best Friend is the AI Wai… There is a lot of chatter in the blogosphere about the recent $100 million investment in Twitter at a $1 billion valuation, but most of it based on speculation. Twitter and Facebook are private companies. You cannot get the facts simply by typing a stock symbol into Yahoo Finance. Our mission at ReadWriteWeb is to add to the facts, not just the speculation. Rather than posting confidential information that someone has leaked to us, we prefer to start with publicly available data. That takes a lot of leg work and crawling through regulatory filings. Luckily, a firm in this industry does that professionally: the VC Experts Valuation and Terms database. It has given us access to and permission to publish the investment facts, as publicly recorded, for both Twitter and Facebook. We could not refrain from a bit of game theory speculation on how this could play out, and we invited a specialist in startup deals to add his speculation as well. But let’s start with the facts.The Twitter Rounds of Investment
West Bengal Chief Minister Mamata Banerjee on Thursday said her government respects all religions and schools of thought.The CM, on the occasion of World Philosophy Day, wrote in a Twitter post that tolerance is instrumental in the progress of civilisation.“Today is World Philosophy Day. We respect all schools of thought. We respect all religions. Tolerance is the key to the progress of civilisation. My best wishes to all,” Banerjee wrote on her Twitter handle. In order to renew the national, subregional, regional and international commitment to philosophy, the UNESCO introduced the World Philosophy Day in 2002.
PDEA chief backs Robredo in revealing ‘discoveries’ on drug war Calvin Abueva. PBA IMAGESANTIPOLO–Playing with an immeasurable amount of energy right from the get-go, Phoenix Pulse went on to blow Blackwater to smithereens, 114-95, on Friday night as the Fuel Masters kept their unbeaten run going in the PBA Philippine Cup eliminations at Ynares Center here.With a balanced offensive and a defensive stand that didn’t budge an inch, the Fuel Masters led by as large as 85-48 on the way to improving their league-leading record to 4-0–the only unblemished card remaining.ADVERTISEMENT Sports Related Videospowered by AdSparcRead Next President Xi ‘hates’ doping, vows tough stance for Beijing 2022 US judge bars Trump’s health insurance rule for immigrants SEA Games hosting troubles anger Duterte PH underwater hockey team aims to make waves in SEA Games PLAY LIST 02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games02:11Trump awards medals to Jon Voight, Alison Krauss Grace Poe files bill to protect govt teachers from malicious accusations LATEST STORIES MOST READ It was a truly bad night for the Elite, who came into the game fresh from a 111-99 upset of Rain or Shine but hardly played with the form they displayed in that game. Blackwater dropped to a 1-3 card.After three quarters, only JC Intal, from among coach Louie Alas’ starters, wasn’t in twin digits in scoring and Phoenix already had a total of five in that stretch counting Calvin Abueva who came off the bench.FEATURED STORIESSPORTSPrivate companies step in to help SEA Games hostingSPORTSUrgent reply from Philippine football chiefSPORTSPalace wants Cayetano’s PHISGOC Foundation probed over corruption chargesPhoenix was already ahead by 19 after the first quarter and it would have gotten uglier than it already was had the Elite not come up with a 15-0 run near the end of the third period. ‘We are too hospitable,’ says Sotto amid SEA Games woes Don’t miss out on the latest news and information. ‘We are too hospitable,’ says Sotto amid SEA Games woes Private companies step in to help SEA Games hosting Oil plant explodes in Pampanga town View comments
TEWKSBURY, MA — On Monday, Tewksbury’s State Senator Barbara L’Italien announced her endorsement of Selectman Mark Kratman in the 19th Middlesex State Representative race to succeed the late Rep. Jim Miceli.“I’ve known Mark for years and we have fought side by side to deliver on Tewksbury’s priorities. There is nobody better when it comes to advocating for his community,” said L’Italien. “Mark’s heart is this district – you never see him miss an event or an opportunity to bring people together for the betterment of the area. He will be an outstanding representative for Tewksbury and Wilmington and is the best candidate in this race.”“I am honored to receive this support from our state senator,” said Kratman. “Barbara has done a great job bringing taxpayer dollars to this district, for road repairs, to protect beds and jobs at Tewksbury State Hospital, for the Fire Department, and more. I look forward to following in Senator L’Italien and Rep Miceli’s footsteps in the legislature being this district’s voice in the state legislature. Miceli served with distinction for a long time and while he will be missed, I am ready to hit the ground running on day one.”State Sen. Barbara L’Italien & Tewksbury Selectman Mark Kratman(NOTE: The above announcement is from State Senator Barbara L’Italien’s Office.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email email@example.com.Share this:TwitterFacebookLike this:Like Loading… RelatedSTATE REP RACE: Massachusetts AFL-CIO Endorses Mark KratmanIn “Government”STATE REP RACE: Massachusetts Teachers Association Endorses Mark KratmanIn “Government”STATE REP RACE: Mark Kratman Holds Successful Campaign Rally, Ready To Fight For Wilmington & Tewksbury At State HouseIn “Government”
Close OnePlus has become a household name in India and many major markets in the world. The brand itself has grown to become one of the most reliable and trusted names in the industry, which is why the expectations from end users grow and they tend to demand better things in every aspect. For most people out there, the camera plays a major role in a smartphone buying decision, and OnePlus phones have been at par with some of the best phones but not all of them.IBTimes India was a part of OnePlus Camera Lab tour in Taipei, which allowed us to look at everything happening behind closed doors. From robust subjective and objective tests to endurance tests and beyond, OnePlus engineers are thriving to make the phone cameras in OnePlus phones to be the best. This is a crucial area to work on for the company in order to gain more customers.OnePlus 7 Pro was recently launched to much fanfare. Despite being the best Android flagship in various aspects, camera is where the phone struggled. Over the weeks, OnePlus rolled out several software updates and made the OnePlus 7 Pro’s camera a lot (a lot) better. But it still doesn’t surpass the likes of Google Pixel 3 and Huawei P30 Pro – the industry-leading camera phones so far, like it does in other aspects of the performance and battery.OnePlus 7 Pro’s camera isn’t bad, it’s just not up to the competition thrown by the best phones out there. Since OnePlus has grown to become a sensational brand name, expectations are risen high. From our tour, we have learned that a lot of OnePlus fans and camera enthusiasts will be excited in the near future, especially next year.OnePlus 7 Pro’s OxygenOS 9.5.9 isn’t the last update to improve the overall performance and camera of the phone as the engineers are hard at work to bring more optimisations to the camera.Before we get to the roadmap, here’s what we learnt from our lab visit to OnePlus’ camera R&D. Located in the heart of Taiwan, the OnePlus camera lab is a massive open-space office with interesting architecture. A few shots from the office tour are below: 1/4 OnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanPreviousNextThen, there’s the lab with a series of smaller rooms, where all the magic happens. All that feedback from community members, beta testers, field engineers and even Pete Lau’s timely suggestions are taken into account and the software testing is pushed inside the lab. The camera test lab covers testing phone camera in different artificially-set scenes and analysing data produced from those samples.The testing lab is divided into five main areas, objective tests, camera functional verification, HDR development, 3A development and reflective target development, where the machines test camera’s capabilities in various parameters such as white balance, brightness, speed of autofocus and saturation. The purpose of these various labs is to ensure balanced results in any scenario – be it a sunny day or a candle-lit dinner or a backlit scene. Finding a balance between subjective and objective needs is a tedious task and these tests done by OnePlus aim to achieve the best results – both in DxO scores and what people need. 1/7 OnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanPreviousNextOnePlus uses prototype hardware to shoot images and then analyse the data to find errors and correct them. It was evident that software does play a huge role, more so in future, and we’re hoping to see more of that smart optimisation on cameras of existing OnePlus phones.Speaking of smart optimisations on images, OnePlus product manager for OnePlus’ imaging team, Zake Zhang, said: “AI is definitely a direction everybody is looking to. In the near future, when you point out at a scene, the camera recognises a scene and know exactly how you want the photo to be. That’s true AI. We are not there yet, but it is the direction we are heading. So we don’t use the term AI, instead, we call it smart scene detection or smart-anything or computational algorithms. We don’t recognise mere edge detection as AI.”Speaking of current trends, Zhang noted, “For now, the most important thing is the software – the computational power of the mobile platform.”Going back to the various test labs conducted at the OnePlus camera lab, the main highlight for us was the automotive objective test lab complete with a huge robotic arm controlled by a programmatic test software. The smartphone affixed to the robotic arm takes photos of the charts on the big screen and displays instant results – all without any human intervention. 1/2 OnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus camera lab in TaipeiIBTimes India/Sami KhanPreviousNextIn the same room were three mannequin heads, which at first looked creepy for their sheer realness. It was as if looking at a scene from Game of Thrones. The purpose of the mannequin heads was to pose for a natural portrait shot where the engineers could test and perfect the bokeh effect that users love so much. One of the engineers said that they were planning to add a fourth mannequin head – of a man with a fully grown beard. OnePlus camera lab in TaipeiIBTimes India/Sami KhanOnePlus also had a dedicated station with several OnePlus phones plugged in and they were all testing the performance of the camera app on a loop. Each phone would launch the camera app, snap a photo in normal mode and then switch to different modes and take a sample before closing the app and going through this process over and over again. All the results of the camera app performance were shown in real-time on a monitor nearby. OnePlus camera lab in TaipeiIBTimes India/Sami KhanThere were other labs, like the one with a rotating joyride with LED lights on it in order to test the autofocus speed, and another one with charts and objects under SpectraLight QC light booth to measure ISO, colour accuracy, exposure and other parameters in different lighting situations.With all this, OnePlus has a clear vision in mind – deliver pleasing results to end-users, be it through computational algorithms or capable hardware setup. The company’s direction towards software optimisations looks promising and it is bound to add value to the camera in future updates. If nothing, Zhang seemed pretty confident that next year’s OnePlus flagship – which we believe will be called OnePlus 8 – will be able to surpass other camera smartphones.OnePlus is also working with the challenge of having a small camera team as compared to giants like Google. It heavily relies on its community for feedback, which according to Zhang is extremely helpful. But the team is expanding and with it let’s hope we get to see some Pixel-grade camera performance from future OnePlus devices.To give you an idea about how far OnePlus has come with its cameras, take a look at some shots taken from OnePlus 7 Pro in Taipei below. But the idea to be better than this. 1/10 Shot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanShot on OnePlus 7 ProIBTimes India/Sami KhanPreviousNext OnePlus 6T Thunder Purple Review: Fashionable and classy
BALURGHAT: A group of miscreants allegedly led by some BJP activists attacked the house of Trinamool MLA of Itahar in North Dinajpur, Amal Acharjee, on Tuesday night.The goons had allegedly pelted stones and hurled bombs targeting the house. Acharjee is also the Trinamool Congress district president of North Dinajpur. Acharjee has filed an official complaint with the police on Wednesday. According to a police source, the BJP had conducted a victory rally after forming the Panchayat board in Itahar, while miscreants led by party activists targetted Acharjee’s house. Notably, the BJP had bagged 13 seats and formed the board of Itahar Gram Panchayat on Tuesday. Trinamool had won in 12 seats. “Itahar is a peaceful area. The BJP after capturing the Gram Panchayat started terrorising Trinamool voters, leaders and workers. We will not tolerate this. Trinamool is against any such activity. I have urged the police for strict legal action against those who were behind the crime,” Acharjee said.