I was asked recently if there was a meaningful analog to AI – its pervasiveness, its transformative potential, its power – in the annals of technology, and I answered with a straight face: “Yes. The Wheel. The Printing Press. Electricity. The Internet.” I truly believe AI is going to be that big, if not bigger, … Continue reading “Narrowing AI: A Useful Context for AI Innovation, Opportunity, and Investment”
Category: Detroit
Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More
The life science and healthcare worlds are vast. We often talk about impact in terms of millions of patients and billions of dollars. But these worlds can be small, too. It seems at times we’re never far removed from any one person, through their published papers, social media connections, friends, colleagues, or people they’ve mentored. … Continue reading “Bio Roundup: Michael Becker, Suzanne Eaton, Gene Therapy Moves & More”
Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs
Amgen and Novartis are stopping work on an experimental Alzheimer’s disease drug after an early look at clinical data showed worsening cognitive function in patients. The interim results announced Thursday were part of a pre-planned review of data from two pivotal clinical trials testing the drug, umibecestat. Based on that review, Amgen (NASDAQ: [[ticker:AMGN]]) and … Continue reading “Amgen, Novartis BACE Inhibitor Joins List of Failed Alzheimer’s Drugs”
Trump Kills His Administration’s Plan to End Secret Drug Rebates
Donald Trump’s criticism of high drug prices began during the 2016 presidential campaign and continued through his presidency, perhaps most famously just before his inauguration when he said that drug companies were “getting away with murder.” This week has underlined the gap between the administration’s rhetoric and results. Most strikingly, the White House said last … Continue reading “Trump Kills His Administration’s Plan to End Secret Drug Rebates”
Record Exit Value for VC-Backed Startups Could Fuel Investment
More than a third of the companies that went public in the first half of this year were backed by venture capital. That, plus robust merger and acquisition activity, set a record for venture-backed exit value—$165.2 billion in money returned to investors—that’s already topped all other full-year totals, according to the latest VentureMonitor, the quarterly … Continue reading “Record Exit Value for VC-Backed Startups Could Fuel Investment”
Ross Perot Dies: Tech Pioneer Sold Two Firms For Billions to Dell, GM
Dallas—Ross Perot, the Texan billionaire businessman who twice ran for president in the 1990s, died Tuesday, five months after being diagnosed with leukemia, according to news reports. He was 89. Perot sold his first company, Plano, TX-based computer services business Electronic Data Systems, to General Motors (NYSE: [[ticker:GM]]) in 1984 for $2.5 billion. In 1988, … Continue reading “Ross Perot Dies: Tech Pioneer Sold Two Firms For Billions to Dell, GM”
How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] For my feature article “Special Report 2069: Predicting the Internet’s Next 50 Years,” I asked my Twitter … Continue reading “How Do YOU Think the Internet Will Evolve? A Sampling of Your Tweets”
AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform
Just as Google is developing autonomous vehicles through its subsidiary Waymo, China’s largest online search engine, Baidu, is also racing to develop AVs. Last week, the company announced a new milestone: It has now tested self-driving cars on more than 1 million miles of roadway in 13 Chinese cities. Baidu (NASDAQ: [[ticker:BIDU]]) is playing catch-up … Continue reading “AV Mapping Startup Carmera Joins Baidu’s Open-Source Apollo Platform”
Future of the Internet: What Scares Networking Pioneer Radia Perlman
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Bob Metcalfe co-invented Ethernet, the communications standard still used for most local on-site networking, but Radia Perlman … Continue reading “Future of the Internet: What Scares Networking Pioneer Radia Perlman”
Why Ethernet Inventor Bob Metcalfe is an Internet Optimist
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] Right alongside Moore’s Law, which describes the exponential growth in computing power since the 1960s, there’s Metcalfe’s … Continue reading “Why Ethernet Inventor Bob Metcalfe is an Internet Optimist”
Healthtech Startups: Connect with HHS Officials in Detroit on July 15
Are you a healthcare technology startup based in Southeast Michigan or Southwest Ontario? If so, you’re invited to attend a one-day-only meeting to connect with representatives from the US Dept. of Health and Human Services, who will be at TechTown Detroit, 440 Burroughs St., from 9 a.m. to 5 p.m. on July 15. MedHealth Startup … Continue reading “Healthtech Startups: Connect with HHS Officials in Detroit on July 15”
Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More
As we pause to celebrate the 4th of July, another birthday is top of mind: A third baby whose embryonic DNA was edited by Chinese scientist He Jiankui. As Xconomy reported in November, He hinted about a second pregnancy after his infamous revelation of twins altered with CRISPR gene editing tools. That second pregnancy—a third … Continue reading “Bio Roundup: Duchenne Race, Warren v. Gottlieb, A $599 Genome & More”
Free Workshops, Tools, & Advice? Centrepolis Aids Hardware Startups
Although Michigan is home to 2,500 small manufacturers and is the center of the domestic auto industry, it didn’t have a hardware technology incubator until Lawrence Technological University launched one about a year ago. The Centrepolis Accelerator’s mission is to help grow the state’s advanced manufacturing and hardware ecosystem by providing funding, product- and business-development … Continue reading “Free Workshops, Tools, & Advice? Centrepolis Aids Hardware Startups”
Ex-Apple UX Guru Don Norman Calls for Replacing the Internet
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] No one has done more than Donald Norman to teach us that every piece of hardware … Continue reading “Ex-Apple UX Guru Don Norman Calls for Replacing the Internet”
What Is the Future of the Internet? Experts Predict Next 50 Years
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] It’s a good thing journalists, pundits, and consultants can’t be held liable for the predictions we … Continue reading “What Is the Future of the Internet? Experts Predict Next 50 Years”
What ARPANET’s History Can Teach Us About Cybersecurity
[Editor’s note: This is part of a series examining the internet’s first 50 years and predicting the next half century. Join Xconomy and World Frontiers Forum on July 16 for Net@50, an event exploring the internet’s past and future.] The internet nearly came with built-in caller ID. The year was 1972: three years after the … Continue reading “What ARPANET’s History Can Teach Us About Cybersecurity”
Flagstar Bank, Detroit FinTech Bay Launch Mortgage Tech Accelerator
Flagstar Bank, headquartered in Troy, MI, and the Detroit FinTech Bay innovation hub are partnering to launch a new mortgage technology accelerator—and program organizers say it’s the first and only US accelerator focused exclusively on incubating tech startups in the mortgage industry. The banking sector in general has been slow to adopt new technologies, says … Continue reading “Flagstar Bank, Detroit FinTech Bay Launch Mortgage Tech Accelerator”
Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event
Legendary rock musician and longtime internet evangelist Peter Gabriel has joined the all-star cast of speakers for Net@50, a historic event celebrating the 50th anniversary of the first net message—while also looking ahead to the internet’s next 50 years. The event, put on by the non-profit World Frontiers Forum in association with Xconomy, takes place … Continue reading “Peter Gabriel Joins Net@50 Lineup; Tix Going Fast for July 16 Event”
As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It
This week’s decision by police equipment manufacturer Axon to forego using facial recognition software in its body cameras follows a string of other actions against the use of face-matching technology by public agencies. They include a pioneering ban in San Francisco last month, and another passed Thursday by the city council of Somerville, MA. What … Continue reading “As Cities Ban Face Recognition, Body-Cam Firm Axon Also Nixes It”
Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center
Carnegie Mellon University this week announced a five-year research partnership with Argo AI that will focus on advanced perception and decision-making algorithms for autonomous vehicles (AVs). Argo AI, a Pittsburgh-based self-driving car startup whose majority investor is Ford (NYSE: [[ticker:F]]), is spending $15 million to fund the effort, which will be called the Carnegie Mellon … Continue reading “Carnegie Mellon, Argo AI Form $15M Self-Driving Car Research Center”
Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More
It was a busy week. If we had to choose a theme, it was all about getting together. Two huge drug companies, AbbVie and Allergan, said they’d be better as one. Two more huge drug companies, Celgene and Bristol-Myers Squibb, learned they would have to leave a big product behind if they want to merge. … Continue reading “Bio Roundup: Merger Drama, FDA Trauma, Big IPOs, CRISPR Fights & More”
Degreed Raises $75M to Expand in Growing Workforce Training Sector
Degreed, which helps businesses upgrade the skills of their staffers through an online gateway to learning resources, announced Thursday it has raised $75 million to grow the service and expand internationally. San Francisco-based Degreed is among the educational technology companies now classified as “learning experience platforms,’’ because they organize staff participation in skills development training … Continue reading “Degreed Raises $75M to Expand in Growing Workforce Training Sector”
Detroit’s StockX Gains Unicorn Status After $110M Series C Investment
Southeast Michigan is now home to another unicorn startup. Detroit-based e-commerce company StockX announced Wednesday that it has raised $110 million in a Series C funding round, increasing the company’s total value to more than $1 billion. The investment was led by DST Global, General Atlantic, and GGV Capital. In a statement announcing the funding … Continue reading “Detroit’s StockX Gains Unicorn Status After $110M Series C Investment”
XLerate Health Launches Early-Stage Startup Accelerator in Flint
Anyone who has followed the Flint water crisis for the past few years probably thinks of the post-industrial Michigan city as a place that can’t seem to catch a break. Five years after a state-appointed city manager switched the municipal water source to the notoriously polluted Flint River and poisoned residents, the city’s people are … Continue reading “XLerate Health Launches Early-Stage Startup Accelerator in Flint”
Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups
Booster, an on-demand service that fills gas tanks for car owners while they shop at a mall or work at their office desks, announced Tuesday it has raised $56 million to expand into new territories. San Mateo, CA-based Booster runs about 70 mini fuel tankers that circulate at office complexes, sports clubs, and other commercial … Continue reading “Hate to Pump Gas? Booster Scores $56M to Scale Mobile Fill-Ups”
Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns
Even as Uber, Lyft, and other high-profile initial public offerings underperformed out of the gate, the average share price of companies that have gone public in the US this year is up by almost 33 percent. That’s according to data based on the mean returns of issuers that started trading through June 19, released by … Continue reading “Led by Tech, Healthcare Debuts, IPOs in 2019 Show Positive Returns”
The Path to a More Human Voice Interface
The world is changing fast. Everything is getting connected. The connected home – the smart fridge, the smart thermostat, the smart TV – will soon be a mainstay of a connected world, an era quickly being ushered in by 5G, AI on the edge, and a slew of other enabling technologies. And I believe the … Continue reading “The Path to a More Human Voice Interface”
Everactive Snags $30M Series C to Advance Battery-less IoT Sensors
Everactive, a Bay Area startup, has raised $30 million in a Series C funding round. The investment was led by Future Fund with participation from Blue Bear Capital, ABB Technology Ventures, New Enterprise Associates, and Osage University Partners. The company has raised $63 million since its inception in 2012. Everactive, formerly known as Psi Kick, … Continue reading “Everactive Snags $30M Series C to Advance Battery-less IoT Sensors”
AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira
[Updated, 10:11 am ET, see below.] Pharmaceutical giant AbbVie this morning agreed to acquire Allergan in a $63 billion deal meant to provide the pharmaceutical giant with enough revenue to brace for the loss of patent protection for the world’s top-selling drug. AbbVie (NYSE: [[ticker:ABBV]]) will pay $188.24 per share in cash and stock for … Continue reading “AbbVie to Pay $63B for Allergan to Prepare for Life Without Humira”
Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills
To hear some people talk, you’d think the age of bipartisan action in Congress was a lost phenomenon of the distant past. But it’s not so, at least when it comes to certain issues. And no one knows it better than the big Silicon Valley tech companies that are the recent targets of proposed bipartisan … Continue reading “Dems and GOP Senators Unite Versus Big Tech on Data Privacy Bills”
Review: Inside the House of Lies at Theranos
Youth. Charm. Fearlessness. Ruthless focus. These can be positive attributes in an entrepreneur, but in a more rational world, technology investors wouldn’t overvalue them. Risk capital would be allocated based mostly on evidence, data, progress towards milestones—in short, on proof. In the real world, of course, proof is hard to come by. Hope, avarice, or … Continue reading “Review: Inside the House of Lies at Theranos”
Ford Initiative Will Crowdsource Mobility Solutions in Detroit
It’s been a year since Ford announced it will refurbish a massive abandoned train station in Detroit and transform it into the anchor of its mobility and autonomous vehicle operations, which will eventually house hundreds of employees. This week, the automaker announced a new program called City:One Michigan Central Station Challenge to solicit ideas for … Continue reading “Ford Initiative Will Crowdsource Mobility Solutions in Detroit”
Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More
[Corrected 6/24/19, 12:08 p.m. See below.] Cancer remains one of the hottest areas for pharma deals and this week saw a big one: Pfizer’s proposed $11.4 billion buyout of Array Biopharma. The announcement comes less than a month after Boulder, CO-based Array announced positive data from a pivotal study of its combination drug in colorectal … Continue reading “Bio Roundup: Array Bio Acquired, IPO Spree, Sanofi’s Job Cuts & More”
Four More Through the IPO Door as Life Science Firms Raise $465M
It’s been a strong year for biotech IPOs and Wednesday shaped up to be a particularly busy day as four life science firms debuted on the public markets. So far this year, 72 companies have gone public, according to IPO research firm Renaissance Capital. That total is down 20 percent compared to the same period … Continue reading “Four More Through the IPO Door as Life Science Firms Raise $465M”
Perceptive Automata Uses Neuroscience to Help AVs Predict Intent
Those of us who like to ride our bikes on city streets know the importance of The Staredown. Say a biker is trundling past an intersection and a car is inching forward to make a righthand turn while the light is red. It makes the biker feel better to intently stare at the driver in … Continue reading “Perceptive Automata Uses Neuroscience to Help AVs Predict Intent”
Ellis Island Tea, Healthy Roots Among QL Detroit Demo Day Winners
Quicken Loans Detroit Demo Day, held Friday evening at the Fillmore downtown, was quite a production. The event involved a number of entrepreneurs pitching their companies from the stage to a panel of judges as well as the crowd, which was voting on people’s choice awards via mobile app. At stake were cash and prizes … Continue reading “Ellis Island Tea, Healthy Roots Among QL Detroit Demo Day Winners”
Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More
Is one of the bigger biopharma acquisitions of the year in trouble? This past week, antitrust regulators once again delayed Roche’s planned $4.8 billion buyout of gene therapy developer Spark Therapeutics (NASDAQ: [[ticker:ONCE]]). The US Federal Trade Commission wants yet more information about the buyout, and overseas, the UK Competition and Markets Authority opened a … Continue reading “Bio Roundup: Roche-Spark Drags On, GSK Taps CRISPR, Diabetes News & More”
Aurora Ends Affiliation with VW as it Begins Collaboration with FCA
Fiat Chrysler Automobiles has arguably been quieter on the autonomous vehicle front than Ford and GM, but this week marked a significant development for the company. FCA announced it will partner with Aurora, a Bay Area startup developing self-driving technologies. The companies did not disclose the financial terms of the arrangement. Wired reports that the … Continue reading “Aurora Ends Affiliation with VW as it Begins Collaboration with FCA”
Your Tech Startup Is Probably Not Ready to Raise Money
I know, I don’t even know you. Here’s the thing. Let’s say Melanie is an early-stage investor. If she placed a bet blindly for every startup that thinks they’re ready to raise, her chips would fall on the “not ready to raise” words written in fancy script on the soft green felt of the betting … Continue reading “Your Tech Startup Is Probably Not Ready to Raise Money”
Clinical Trials in Plain English: TrialAssure Translates for Patients
Software is playing a growing role in clinical trials, and over the years it’s been introduced as a tool to help enroll patients, collect data, and analyze results. But one aspect of clinical trial record-keeping has been stubbornly stuck on paper—the reporting of data to the patients who volunteer for the studies. TrialAssure, a Canton, … Continue reading “Clinical Trials in Plain English: TrialAssure Translates for Patients”
IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day
Cybersecurity firm CrowdStrike delivered the kind of market debut this week that was an unfulfilled dream for the much-anticipated IPOs of Uber and Lyft earlier this year. Sunnyvale, CA-based CrowdStrike (NASDAQ: [[ticker:CRWD]]) priced 18 million shares of common stock at $34 on Tuesday. Trading began at $63.50 Wednesday, and reached a near-doubling of the company’s … Continue reading “IPO Scorecard: CrowdStrike Gains 70 Percent on First Trading Day”
U-M Leads 10-University Project to Tackle Equity, Inclusion in STEM
Academic researchers have long studied gender and racial disparities in STEM education, but they have not had widespread success in addressing these challenges. A University of Michigan professor and colleagues from 10 universities are hoping to change that. At public research universities like U-M, introductory courses in STEM (science, technology, engineering, math) subjects are the … Continue reading “U-M Leads 10-University Project to Tackle Equity, Inclusion in STEM”
Roundup: Code Jam Detroit, League of Legends, Genomenon, MTRAC, More
As summer tries to make itself known between long bouts of rain, Michigan’s entrepreneurs have been busy dreaming up new products, launching programs, adding new personnel, and more. Read on for details. —Tune into a live webinar at 1 p.m. ET today from Meeting of the Minds called “When Machines Do Everything in Smart Cities: … Continue reading “Roundup: Code Jam Detroit, League of Legends, Genomenon, MTRAC, More”
3 Tips to Boost Security, Trust With Increasingly Remote Workforce
Employers are increasingly offering remote work options as a differentiator to attract top talent in today’s competitive hiring market. And, with modern technology at their fingertips, employees have come to expect a seamless working experience whether they’re home, in the office, or on the road. These new expectations, coupled with the increase of contract and … Continue reading “3 Tips to Boost Security, Trust With Increasingly Remote Workforce”
Mark Your Calendars: Startup Week Detroit Kicks Off on June 17
Every year, Detroit’s entrepreneurial community comes together for a five-day event encompassing panel discussions, TED talk-style keynote speeches, bootcamps, tech demos, and networking happy hours, all of which are open to the public and free upon registration. Techstars Startup Week Detroit kicks off on June 17, but the registration process is already underway for those … Continue reading “Mark Your Calendars: Startup Week Detroit Kicks Off on June 17”
Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More
Welcome to conference week. That’s not an official moniker, but is there any busier time on the biopharma calendar? As the American Society of Clinical Oncology meeting wrapped up in Chicago, the annual BIO conference kicked off in Philadelphia, and a deep dive into diabetes begins today in San Francisco. With half the biopharma world, … Continue reading “Bio Roundup: ASCO Wrap, Bluebird’s EU Tap, CRISPR Baby Risk & More”
Michigan-Israel Biz Group’s Website Maps State’s Startup Ecosystem
Efforts by Michigan’s economic development officials to strengthen ties to Israeli companies over the past few years have apparently borne fruit. The Great Lake State is the first in the nation to partner with Israel’s Start-Up Nation Central on a free website that aims to map Michigan’s startup ecosystem and build bridges to the Israeli … Continue reading “Michigan-Israel Biz Group’s Website Maps State’s Startup Ecosystem”
Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team
The month of May was big for Carmera, a startup in New York City developing high-definition maps for use in autonomous vehicles. The company rolled out a new development partnership with auto supplier Lear, and it landed a big name advisor and investor with Shaun Stewart, the former chief business officer of self-driving technology business … Continue reading “Carmera Scores Lear Partnership, Adds Ex-Waymo Exec to Advisory Team”
ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More
The American Society of Clinical Oncology meeting in Chicago has wrapped up for another year. Last week, we featured two stories that you wouldn’t find at the ASCO frenzy: Immunotherapy’s lack of progress in treating breast cancer, and one woman’s risky bet of tens of millions of dollars from her personal fortune to speed drug … Continue reading “ASCO 2019: The Long Game, Targeted Pills, First-Ever Buzz & More”
Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech
Both the House leadership and the Trump administration are preparing to challenge the power of Google, Facebook, and other big tech companies by launching antitrust investigations into their allegedly anticompetitive business practices, as the Washington Post detailed it this week. But the growing concern about the pervasive control of tech giants in arenas such as … Continue reading “Apple Touts New Privacy Moves as Antitrust Probes Loom for Big Tech”