Tech Story

Dustin Moskovitz: Facebook Co-founder turned Billionaire

Entrepreneur & computer scientist Dustin Moskovitz is also the founder and chief executive officer of the business software organization, Asana. He helped establish other businesses, such as Facebook, and the Open Philanthropy Project, alongside Good Ventures.

Numerous businesses, such as Helion Energy, Quora, Malta, Asana, Vicarious, & Relative IQ, have received private investments from Moskowitz. He sits on the boards of Vicarious AI, Good Ventures, as well as ICONIQ Capital.

Dustin Moskovitz has a strong commitment to charitable activities. In 2010, he and his wife, Cari Tuna, pledged to give off fifty percent of their earnings over the span of their lives by signing the Bill Gates Giving Pledge. The pair later founded Good Ventures, a charitable organization.

Also Read: From Code Enthusiast to Tech Titan: Chris Wanstrath Journey

Good Ventures provides loans and makes investments in businesses that they believe will benefit humanity in the long run. They also established the research and grant-making organization Open Philanthropy Project along with Good Ventures.

Bloomberg estimates the current net worth of Dustin Moskovitz to be approximately 23.9 billion USD which is a significant portion of his wealth due to his ownership of just one percent stakes in Meta Platforms, the company that owns Facebook.

Gainsville, Florida is where Dustin Moskovitz was born and raised. His father was a psychiatrist, while his mom was an instructor. Before pursuing economics in 2002 at Harvard, he completed an International Bachelor programme and passed from Vanguard High School.

In 2004, Moskovitz dropped out of Harvard to work on developing his newly established online social networking startup, Facebook, in Palo Alto. Moskovitz was the firm’s first vice president and chief technology officer for engineering.

Moskovitz quit Facebook in 2008 while founding the enterprise software firm ASANA. In 2011, He was recognized by Forbes as the youngest independent billionaire. Dustin and his wife got engaged in 2013.

Also Read: The Unforgettable Journey of Lucy Guo

They became acquainted in 2009. They co-founded the Open Philanthropy Project in 2014 and also Good Ventures in 2011.

Another previous employee of Facebook, David Morin, runs the smartphone photo-sharing website Path, and Moskovitz was its largest angel investor.

According to a report, Moskovitz’s counsel was crucial in convincing Morin to decline a 100 million USD acquisition bid made in February 2011 from Google. A forty million dollars Series D fundraising round for the new company fusion power company Helion Energy was managed by Moskovitz in 2020.

Suhani Jain

I am a student pursuing my bachelor’s in information technology. I have a interest in writing so, I am working a freelance content writer because I enjoy writing. I also write poetries. I believe in the quote by anne frank “paper has more patience than person

Is Europe in Danger of Losing EV Battery Race?

According to a report by the European Court of Auditors (ECA), Europe is at risk of losing the global battery race due to various challenges.

These include limited access to raw materials, increasing costs, and tough competition. The report highlighted that the European Union’s efforts to achieve its climate goals, which heavily rely on the adoption of electric vehicles powered by batteries containing metals like cobalt, nickel, and lithium, may be hindered.

The ECA, an independent external auditor of the EU, stated that nearly 20% of new cars registered in the EU in 2021 were electric.

Also Read: Microsoft notches record high valuation of nearly $2.6 trillion

With an estimated 30 million zero-emission vehicles expected on European roads by 2030 and a ban on new petrol and diesel cars by 2035, the demand for batteries will soar. However, the EU’s strategy has not adequately addressed its ability to meet this growing battery demand.

Annemie Turtelboom, who led the ECA audit, expressed concerns about the EU’s ambition to become a global battery powerhouse, emphasizing that the odds of success are not favorable.

Turtelboom warned that if the EU fails to produce enough batteries domestically, it may either miss its emissions goals for 2035 or rely heavily on imported batteries, which could harm European industry and come at high costs from other countries.

The EU’s reliance on a few countries for raw materials poses a significant risk. The ECA highlighted that, on average, the EU imports 78% of five key materials. This concentration of supply brings geopolitical risks and potential shortages.

Turtelboom emphasized that the EU should avoid becoming as dependent on batteries as it is on natural gas from Russia.

The report revealed that a significant portion of the world’s cobalt comes from the Democratic Republic of Congo, while China dominates global battery production capacity and supplies 40% of natural graphite.

The EU relies entirely on imports of refined lithium. Although extraction in Europe is possible, it will take considerable time, with Portugal, holding the bloc’s largest lithium reserves, not expecting production to begin until 2026.

Furthermore, the ECA identified that the EU lags behind in terms of cost competitiveness, partly due to high energy prices. The EU Commission’s data was found to be outdated and incomplete, and public funding for battery projects remains uncoordinated, leading to overlaps and inefficiencies.

Also Read: Netflix Tudum 2023: Everything Announced

In summary, the report from the European Court of Auditors raises concerns about Europe ability to become a global battery powerhouse. Limited access to raw materials, rising costs, intense competition, and an inadequate strategy pose challenges to the EU’s ambitions.

The report warns that failure to address these issues could result in missed climate goals or heavy reliance on imported batteries, which would harm European industry and come at a high price.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

What happens to the smaller VC firms in a conservative market?

Leave a Comment / Story, Tech Story / By Sandhya Gupta

In the dynamic world of venture capital (VC), market conditions play a significant role in shaping the fortunes of firms. When confronted with a conservative market, characterized by risk aversion and cautious investor sentiment, smaller VC firms face unique challenges. This blog explores the potential consequences and strategies available to navigate such circumstances.

In a conservative market, investors tend to gravitate towards safer, established companies with proven track records, often overlooking riskier early-stage startups.

This reduced appetite for risk impacts smaller VC firms, which primarily focus on early-stage investments. As a result, these firms may struggle to attract sufficient capital, making it challenging to deploy funds and support new ventures.

With limited investor interest, smaller VC firms may face difficulties in raising the necessary funds to sustain their operations. The conservative market environment often leads to decreased commitments from existing limited partners and makes it more challenging to attract new investors.

Consequently, smaller VC firms may experience a decline in their available capital, hindering their ability to participate in lucrative investment opportunities.

Also Read: Why is Microsoft Teams integration being removed from Win11?

Conservative markets tend to have a ripple effect on portfolio companies within the VC firm’s investment ecosystem. As startups face reduced funding options, they may encounter difficulties in securing subsequent financing rounds.

Smaller VC firms may be forced to allocate more resources to support existing portfolio companies rather than making new investments. Consequently, the overall growth and success of the portfolio may be limited, potentially affecting the firm’s reputation and ability to attract future investments.

To adapt to a conservative market, smaller VC firms may need to adjust their investment focus. They may shift towards industries or sectors that are more resilient in such conditions, such as healthcare or essential services.

Additionally, they might concentrate on later-stage investments or seek out more established startups that demonstrate stability and a clear path to profitability.

By adapting their investment strategy, smaller VC firms can increase their chances of generating returns even in a conservative market.

In a conservative market, smaller VC firms face significant challenges due to limited investor appetite, funding constraints, and portfolio company struggles.

However, by adapting their investment focus, exploring alternative funding sources, and providing extensive support to existing portfolio companies, these firms can navigate the conservative landscape and position themselves for success in the long run.

B. Pagles Minor, a first-time fund manager who established DVRGNT Ventures seven months ago, has encountered challenges in the fundraising landscape.

Contrary to expectations, limited partners are demanding more extensive metrics and data, resulting in unexpected expenses. Additionally, emerging managers like Minor are facing financial burdens as certain insurances, previously not commonly required, are now being requested.

Another emerging trend is limited partners seeking concessions such as waiving certain management fees or requesting lower carry in the fund. These circumstances further strain fund managers’ ability to establish and effectively run their funds.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Netflix Tudum 2023: Everything Announced

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Netflix recently held its annual Tudum event where it made several exciting announcements.

They revealed Season 3 of Extraction, starring Chris Hemsworth, and concluded with Heart of Stone featuring Alia Bhatt, Jamie Dornan, and Gal Gadot. In between these announcements, they showcased a glimpse of what was to come.

One of the highlights was a spinoff show centered around Berlin, a beloved character from Money Heist (La casa de papel), played by Pedro Alonso.

Also Read: Microsoft notches record high valuation of nearly $2.6 trillion

The teaser introduced a new cast for the spinoff. Additionally, they unveiled The Archies, a teen musical drama set in India’s 1960s, providing a desi twist to the popular series Riverdale. Another upcoming series is 3 Body Problem, created by the showrunners of Game of Thrones. Lastly, there was a sneak peek at the highly anticipated live-action adaptation of Avatar: The Last Airbender.

During the Netflix Tudum event, Chris Hemsworth and director Sam Hargrave announced the third movie in the successful Extraction franchise.

The cast of Squid Game, including Lee Jung-Jae, Lee Byung-Hun, Wi Ha-jun, and Gong Yoo, will be returning for the highly anticipated second season, joined by new cast members Yim Si-Wan, Kang Ha-Neul, Park Sung-Hoon, and Yang Dong-Geun.

The Netflix Tudum event also showcased a teaser for The Archies, a musical drama set in 1960s India, featuring an all-Indian cast including Suhana Khan, Agastya Nanda, Khushi Kapoor, Mihir Ahuja, Dot, and Vedang Raina. Netflix unveiled the first trailer for Heart to Stone, an upcoming movie starring Gal Gadot, Alia Bhatt, and Jamie Dornan.

Netflix is taking the popularity of Squid Game to the next level by creating a reality show based on the series. The show will feature 456 participants competing in schoolyard games across 10 episodes, with a chance to win a whopping $4.56 million prize.

While the games will resemble those in Squid Game, there won’t be any life-or-death elimination. In other news, Lily Collins will be returning for the fourth season of Emily in Paris, as shown in a teaser where Emily prepares for a Roman holiday.

Also Read: LinkedIn to test ad product for video streaming services

Unfortunately, fans of Stranger Things will have to wait longer for Season 5, as filming has been delayed due to a writers’ strike. However, Netflix offered a glimmer of hope by announcing that Linda Hamilton, known for her role in Terminator, will join the cast for the show’s fifth and final season.

Other announcements made during the event included Lift, an action-comedy, Love is Blind Season 5, the hiatus of Cobra Kai Season 6, Heartstopper Season 2, All the Light We Cannot See, images from Bridgerton Season 3, Elite Season 7, and You.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

Why is Microsoft Teams integration being removed from Win11?

Leave a Comment / Story, Tech Story / By Sandhya Gupta

Nearly two years after the first announcement of the integration, Microsoft is getting ready to remove the built-in Microsoft Teams client from Windows 11.

This integration aimed to provide seamless communication and collaboration for Windows 11 users, enabling them to connect with colleagues, join meetings, and share files easily.

The more adaptable free edition of Microsoft Teams, which is also accessible as a Windows 10 app, will replace the Chat capability. Microsoft revealed the improvements this week in a fresh Windows 11 test build.

Also Read: Why Music Publishers are suing Twitter?

According to a blog post by Microsoft’s senior program manager Brandon LeBlanc, “Starting with his build, Chat is now Microsoft Teams – Free.” “Microsoft Teams – Free is pinned to the taskbar by default and can be unpinned like other apps on the taskbar.”

The operating system was tightly integrated with the first Teams integration in Windows 11, known as Chat. The Chat app was pinned to the taskbar by default and has to be disabled by navigating to Settings.

Up until now, Microsoft has been steadily introducing new features to Chat inside of Windows 11, including enhanced video conferencing capabilities in October, Discord-like communities in early November, and an AI art tool.

The Microsoft Teams 2.0 client served as the basis for the new MS Teams software that is currently being sent out to organizations, and it also served as the basis for the built-in Chat capabilities in Windows 11.

Days after announcing intentions to discontinue support for Cortana on Windows 11 later this year, Microsoft has decided to remove the built-in Teams client from the operating system. Microsoft is almost at the beginning of a new fiscal year, and it is evident that the corporation is concentrating its resources on brand-new Windows initiatives, such as its AI-powered Windows Copilot tool.

When speaking at CES earlier this year, Windows CEO Panos Panay hinted at the significance of AI for Windows, saying that “AI is going to reinvent how you do everything on Windows.” Undoubtedly, AI will be a significant component in Windows 10 as well.

Also Read: Why are other automakers chasing Tesla’s ‘Gigacasting’?

Additionally, Microsoft apparently agreed to discontinue bundling Teams with Office only a few months prior to the modifications to Teams. In an effort to placate EU regulators, Microsoft has decided to stop requiring Office customers to install Teams on their devices in April, according to The Financial Times.

After competitor Slack complained about Microsoft’s bundling of Teams in 2020, the European Commission opened a formal antitrust investigation on Microsoft’s practices.

Sandhya Gupta

I am a law graduate from NLU Lucknow. I have a flair for creative writing and hence in my free time work as a freelance content writer.

From Code Enthusiast to Tech Titan: Chris Wanstrath Journey

Leave a Comment / Story, Tech Story / By Suhani Jain

In partnership with Tom Preston-Werner and PJ Hyett, executive chairman Chris Wanstrath along with other software engineers launched GitHub in 2008 based in San Francisco.

Having over twenty-four million user accounts, the firm has expanded into the biggest hosting service provider for software programs over the globe in a decade. The previous year, GitHub informed CNBC that it had been on the path to bringing in $200 million in subscription income annually.

While GitHub was estimated at 2 billion USD in 2016, Forbes assessed Wanstrath’s total value to be 360 million USD. Wanstrath’s financial assets will probably increase in addition after the sale is completed because Microsoft’s purchase of the business is expected to almost quadruple that.

In a blog post, Wanstrath wrote that he “could have never imagined” the Microsoft acquisition when GitHub launched 10 years ago. ”[GitHub] was a powerful but niche tool, clouds were just things in the sky, and Microsoft was a very different company,” he said.
Source: cnbc.com

Chris Wanstrath attempted to teach himself software programming while still, a young child growing up in Ohio. He wished to create websites & video games as a software developer. In 2017, he stated to Entrepreneur that He had always desired to be a member of a team creating products that others love.

Also Read: From Dreamer to Achiever: The Unforgettable Journey of Lucy Guo

Wanstrath still had a passion for computers in the early years of the 2000s, but he changed his University of Cincinnati degree to English.

He still desired a career as a software engineer.

He enrolled in a few computer programming courses, which assisted him to become seriously interested in software development to the point where he thought he could make a living at it.

Chris Wanstrath received a job offer from the tech website CNET owned by CBS in 2005 after around two years of education.

Wanstrath was concerned regarding his chances of success since he was a mostly self-taught coder. But he decided to leap. He dropped out of school and moved to San Francisco to work as a software developer.

In January 2008, Wanstrath and Preston-Werner released an exclusive beta edition of GitHub. The following month, they welcomed Wyett as the third co-founder. Wyett had previously worked at CNET on the Chowhound project alongside Wanstrath as an experienced software engineer.

According to a blog post, Wanstrath stated that GitHub’s beta version reached 2,000 members by March 2008. Just over a decade until Microsoft revealed the merger on Monday, GitHub began for public usage in April 2008. After the site became life, GitHub slowly gained popularity among developers, surpassing 100,000 registered users by July 2009.

Over the years, GitHub was named to CNBC’s Disruptor List five times, with CNBC noting that the site has “been described as a Facebook for developers because it encourages collaboration and interaction around code.”
Source: cnbc.com

Besides hosting coding projects for huge organizations like NASA as well as companies like IBM, Airbnb, and Spotify, GitHub is utilized by a billion software professionals worldwide.

Suhani Jain

Follow Us