10.16.2015
Good to Know: Use Yahoo Mail? No more forgetting your password and having to re-set it for the 1,567th time. Say hello to Yahoo Account Key where push notifications are all you need.
THE SKINNY
When Double Dipping Is Ok …
Startup incubator Y Combinator (YC) just scored a ton of cash ($700 million). It wants to throw more money at successful startups it helped build like AirBnB and Dropbox. The business term is “late stage funding.” (Side note: If we’re talking food, double dipping is never ok … Never!).
Back To The Topic At Hand …
YC is calling this new fund “YC Continuity.” By looking to invest in startups later on, YC sees this as just a natural extension of its program, especially since its startups routinely still “call home” for advice as they mature. These days, tech companies are choosing to stay private and not go public, and all types of venture capital firms are making it rain on late stage startups in Silicon Valley. So, this looks like a good move for YC.
Ok, So?
People are excited. Even Michael Bloomberg and Stanford University are getting in on this. But, there’s still concern that since YC will be like any other investor, fledgling YC startups won’t give it to them straight with regards to what is really going on with their business.
WHAT ELSE IS GOING ON?
No, We’re Not Together …
Yesterday, Netflix said that it brought on only 880,000 U.S. subscribers to its service in the third quarter. Disappointing numbers, but it had a reason. The company said new chip-enabled credit cards are to blame for the “involuntary churn” because subscribers’ payment information it had on file no longer worked. This explanation had analysts doing head tilts. Credit card companies called B.S. Now, others like music service Spotify and online marketplace Care.com are treating Netflix like that friend you refuse to claim publicly because of their less than smart comments. These companies said they can’t relate but are sending out payment update reminders to their users.
Finally, Some Good News …
Uber just got a break in the United Kingdom. It won’t have to change its service for compliance with black-cab driver rules in London because a court just said that Uber’s legal. Quick background. Minicabs and black cabs were hating on Uber and said its app is the same thing as a taximeter, which is reserved for black cab drivers. The cabbies basically backed the Transport for London into a corner until it brought a case against the U.S. ride-hailing app company. But, Lord Justice Ouseley, in many more words, was like “I don’t think so.” If only other cities around the world felt the same way about Uber …
THE STREETS ARE TALKIN’
Nevada just showed fantasy sports sites (including FanDuel and DraftKings) with no gambling license the door. It joins the ranks of other U.S. states like Louisiana, Arizona, Iowa, Louisiana, Montana and Washington that are banning these sites.
Dropbox wants its new Paper software for collabos to be the new Google Docs.
Forget London. Ireland’s growing into its own for tech & innovation. Over 1,500 tech companies call it home.
Mo’ money, mo’ problems. Payments company Square’s employees will be “rich … verrrrry rich” once the company goes public. It’s worried employees will lose motivation and even dip out on the company all together post IPO. Would you blame them?
French music streaming service Deezer’s got money on its brain. It’s looking to compete with the likes of Spotify and Apple Music by going public at the end of October for a targeted $345 million.
If you’re between the ages of 18 and 34, NBC Universal wants to make you laugh with Sesso, its new video on demand comedy channel for about $4/ month.
Did you know laughter is food for your soul? Because we love to laugh (and it’s Friday), check out Buzzfeed’s latest listicle of tweets about the Internet.