These startups are locating in SF and Africa to win in global fintech
- To become a global fintech player, locate your company in San Francisco and Africa.
- That’s the approach of payments company Flutterwave, digital lending startup Mines, and mobile-money venture Chipper Cash—Africa-founded ventures that maintain headquarters in San Francisco and operations in Africa to tap the best of both worlds in VC, developers, clients, and the frontier of digital finance.
- Founded in 2016 by Nigerians Iyinoluwa Aboyeji and Olugbenga Agboola, Flutterwave has positioned itself as a global B2B payments solutions platform for companies in Africa to pay other companies on the continent and abroad.
- Clients can tap its APIs and work with Flutterwave developers to customize payments applications.
- The Y-Combinator backed company is headquartered in San Francisco, runs its operations center in Nigeria, and plans to add offices in South Africa and Cameroon.
- Flutterwave opened an office in Uganda in June and raised a $10 million Series A round in October.
DuckDuckGo founder Gabriel Weinberg is coming to Disrupt
- Despite competing as a self-funded underdog against the biggest tech giants around, DuckDuckGo has been profitable and gaining users at a steady clip for years.
- In more recent developments it has added a tracker blocker to its product mix — and been dabbling in policy advocacy — calling for a revival of a Do Not Track browser standard, after earlier attempts floundered with the industry, failing to reach accord.
- While, on the flip side, what if tech giants end up moving in on its territory by redefining privacy in their own self-serving image?
- So we’re also keen to mine his views on entrepreneurial patience, and get a better handle on what makes him tick as a person — to learn how he’s turned a passion for building people-centric, principled products into a profitable business.
San Francisco police investigate freelance journalist as 'possible co-conspirator' in a document leak
- New York (CNN Business) - The San Francisco Police Department said on Tuesday that investigators now suspect a freelance journalist who had refused to reveal the identity of a confidential source took part in a conspiracy to steal a police report on the death of a public defender.
- Press advocacy groups, including the Committee to Protect Journalists, released statements at the time condemning the raid.
- The northern California-based freelance journalist told CNN last week that the group of officers produced a search warrant to enter his residence.
- The raid of Carmody's home came after an April 11 conversation with officers in which Carmody refused to tell authorities how he obtained a confidential police report that included information about the February death of prominent San Francisco public defender Jeff Adachi, according to Carmody's attorney Thomas R.
Introducing the Conversational AI Summit. Focus will be on ROI
- Investing in transformative tech requires some work: Companies need to reach customers wherever they are, whether it be via a text-based messaging app, or behind their kitchen counter talking with a smart assistant.
- Over the two days, the Conversational AI Summit will dive in to best ways to do this, including how to approach a conversational strategy from the top down for the customer journey from engagement to conversion and support, to the discrete products to invest in or support, like messaging, bots, and smart assistants.
- Transform will be showcasing and debating advances in all AI business applications areas, where you’ll be able to network with some of the most disruptive thought leaders in AI who are leading the way.
Americans think they need more than $2 million to be considered wealthy, but that’s nothing compared to what residents in San Francisco say
- Americans believe it takes an average of $2.3 million to be wealthy, according to Charles Schwab's 2019 Modern Wealth Survey, but that number fluctuates depending on several factors, like age and city.
- In San Francisco, that definition of wealth nearly doubles — residents in the Bay Area believe it takes an average of $4 million to be wealthy, Suzanne Woolley of Bloomberg reported, citing the survey.
- Even the majority of tech workers — 60%— can't afford homes there, and that's on a six-figure salary; the average tech worker in the Bay Area earns $142,000 a year, according to a report by tech talent marketplace Hired.
- It's so dire that nearly half of San Francisco residents said in a 2018 Bay Area Council advocacy group survey that they plan to soon move away, Business Insider reported.
Y Combinator's cofounder got flamed for using Airbnb's founders as an example of why you don't have to be 'rich kids' to create a tech unicorn
- Paul Graham, the retired cofounder of famed tech incubator Y Combinator, provoked a backlash on Twitter over the weekend after he said that you don't need to be "rich kids" to launch a successful tech startup.
- Industry CEOs also joined the debate, including Matthew Prince, the cofounder and CEO fo Cloudfare, a software company that recently raised $150 million in funding and is valued at more than $3.2 billion.
- Four years later, Airbnb was in 89 countries, had hit 1 million nights booked on the platform, and was valued at more than $1 billion after receiving funding from some of silicon valley's most prominent venture capital firms.
- Graham, who cofounded Y Combinator, a tech incubator that has invested in some of the most successful tech companies such as Dropbox, Instacart, and Reddit, was an early investor.
The new boogeyman in Silicon Valley politics? The IPO.
- He acknowledged that, as written, the initiative would assess a tax on all stock compensation from San Francisco-based public companies — say, a worker at Wells Fargo who is paid partially in stock — when he said he was actually intending to focus more modestly on the current pipeline of tech IPO candidates.
- Also declining to weigh in were city IPO pipeline candidates like Airbnb and Postmates, which told Recode in a lengthy statement that the public and private sectors should be “working together” on this but then did not respond to requests for comment about whether they actually supported or opposed the proposal.
- Robert Nelsen, a biotech venture capitalist who works with some companies headquartered in San Francisco, said he was supportive of city corporations paying more in taxes to improve things like mental health.
Recode Daily: San Francisco cracks down on facial recognition
- Plus: a top federal labor agency says Uber drivers aren’t employees, Russian hackers accessed Florida voting databases, and media giants start splitting up their streaming empires.
- Uncovering and explaining how our digital world is changing — and changing us.
- San Francisco passed a historic ban on city use of facial recognition.
- The “Stop Secret Surveillance” ordinance, which passed in an 8-1 vote on Tuesday, will not only ban city agencies from buying facial recognition tech but force them to get city approval before purchasing any new surveillance technology such as license plate readers or drones.
- Recode and Vox have joined forces to uncover and explain how our digital world is changing — and changing us.
- Subscribe to Recode podcasts to hear Kara Swisher and Peter Kafka lead the tough conversations the technology industry needs today.
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