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SaaS stocks defy gravity amid pandemic, record job losses

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between.

This week shares of SaaS and cloud companies reached new record highs as investors bid their equities higher following an earnings cycle that came in better than some expected.

SaaS stocks, as measured by the Bessemer-Nasdaq cloud index, closed at a 1,484.93 yesterday, a record, and just a hair under its intraday high of 1,491.59.

The raw numbers matter less than the index’s movement. From highs of around 1,400 in March, the index dropped to 892.60 during the early-year market selloff. Since then, SaaS and cloud companies have come roaring back. This is reflected in the new, higher valuation multiple that the companies are priced at by investors today, namley an enterprise value/revenue multiple of 14.7x.

So let’s take a look at why the SaaS cohort is the apple of Wall Street’s eye. There isn’t a single reason, but we have two that are worth considering. (Also up ahead: Notes on a chat with Alteryx’s CEO and a working definition of socialism. It’s Friday, let’s have some fun.)

A reminder

Briefly, we observe movements in the value of public SaaS and cloud stocks because they inform private market investors about possible exit values for startups. This helps VCs price venture rounds. So, in a somewhat slow mechanism, public values of a stocks help price startups. Given the portion of venture capital dollars and the amount of startup effort that goes into the SaaS space (AI companies are often built using SaaS models, lots of consumer apps are SaaS, and business software is lucrative), we care a lot about the value of SaaS and cloud stocks.

So is the run-up in SaaS stocks, therefore, good for startups? Yep. Now let’s get into why clouds shares are going up.

A meditation of the morality on capitalism

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Microsoft and AWS exchange poisoned pen blog posts in latest Pentagon JEDI contract spat

Microsoft and Amazon are at it again as the fight for the Defense Department JEDI contract continues. In a recent series of increasingly acerbic pronouncements, the two companies continue their ongoing spat over the $10 billion, decade-long JEDI contract spoils.

As you may recall (or not), last fall in a surprise move, the DoD selected Microsoft as the winning vendor in the JEDI winner-take-all cloud infrastructure sweepstakes. The presumed winner was always AWS, but when the answer finally came down, it was not them.

To make a very long story short, AWS took exception to the decision and went to court to fight it. Later it was granted a stay of JEDI activities between Microsoft and the DoD, which as you can imagine did not please Microsoft . Since then, the two companies have been battling in PR pronouncements and blog posts trying to get the upper hand in the war for public opinion.

That fight took a hard turn this week when the two companies really went at it in dueling blog posts after Amazon filed its latest protest.

First there was Microsoft with PR exec Frank Shaw taking exception to AWS’s machinations, claiming the company just wants a do-over:

This latest filing – filed with the DoD this time – is another example of Amazon trying to bog down JEDI in complaints, litigation and other delays designed to force a do-over to rescue its failed bid.

Amazon’s Drew Herdner countered in a blog post published this morning:

Recently, Microsoft has published multiple self-righteous and pontificating blog posts that amount to nothing more than misleading noise intended to distract those following the protest.

The bottom line is that Microsoft believes it won the contract fair and square with a more competitive bid, while Amazon believes it should have won on technical superiority, and that there was political interference from the president because he doesn’t like Amazon CEO Jeff Bezos, who also owns the Washington Post.

If you’ve been following this story from the beginning (as I have), you know it has taken a series of twists and turns. It’s had lawsuits, complaints, drama and intrigue. The president has inserted himself into it, too. There have been accusations of conflicts of interest. There have been investigations, lawsuits and more investigations.

Government procurement tends to be pretty bland, but from the start when the DoD chose to use the cutesy Star Wars-driven acronym for this project, it has been anything but. Now it’s come down to two of the world’s largest tech companies exchanging angry blog posts. Sooner or later this is going to end right?

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How will coronavirus change the world? — Parlia launches to help you find out

Is Greta Thunberg a hypocrite?” Google that phrase and you will get thousands of results. It just goes to show that, to a large extent, the “Q&A” model is broken on the internet. Where once Yahoo Answers and Quora were considered the bright young things of Web 2.0’s “Read/Write Web,” today there is only the chaos of myriad search results. Let’s face it, many have tried to really crack Q&A (remember “Mahalo”?), but few ever got very far — and most became zombie sites.

But look again and you will notice something. A site called Parlia sits at No. 3 on that search result for “Is Greta Thunberg a hypocrite.” But Parlia only launched (in stealth mode) in October last year.

So how can this be?

Well, this upstart in the Q&A space has now closed a pre-seed round of funding from Bloomberg Beta, Tiny VC and others (amount undisclosed).

And as founder, and former journalist, Turi Munthe tells me, the idea here is Parlia will become an “encyclopedia of opinion.”

“We’re a wiki: mapping out all the perspectives on both the breaking stories and controversies of the day, as well as the big evergreen questions: does God exist? Is Messi really better than Ronaldo? The way we’re building is to also help fix today’s polarisation, outrage and information silo-ing,” he tells me.

While most Q&A sites are geared around X versus Y, and focused on rational debate, Parlia is trying to map ALL the opinions out there: flat earthers’ included. It’s aiming to be descriptive not prescriptive, and is closer to a wiki, unlike Quora, where the authors are often selling “something” as well as themselves as experts.

The site is already on a tear. And also highly appropriate for this era.

Right now top subjects include “How to stay healthy during quarantine at home?” or “What are the effects of spending long periods in coronavirus isolation?” or “Will the coronavirus crisis bring society together?” The list goes on. Users see the arguments calmly, dispassionately laid out, alongside counter-arguments and all the other arguments and positions.

Says Munthe: “In 2016, I realized the age of political consensus was over. I watched as Britain spilt maybe a trillion words of argument in the build-up to the Brexit Referendum and thought: there are no more than a half-dozen reasons why people will vote either way.”

He realized that if there’s a finite number of arguments around something as huge and divisive as Brexit, then this would be true for everything. Thus, you could theoretically map the arguments around gun control, abortion, responses to the coronavirus, the threat of AI and pretty much everything.

So why would anyone want to do that? It’s, of course, a good thing in itself and would help people understand what they think as well as help them understand how the rest of the world thinks.

Luckily, there is also a business model. It will potentially carry ads, sponsorships, membership and user donations. Another is data. If they get it right, they will have surfaced foundational information about the very ways we think.

Munthe thinks all the users will come through Search. “The media opportunity, we think, is 100 million-plus pageviews/month,” he says.

Munthe’s co-founder is J. Paul Neeley, former professor of the Royal College of Art, and a service designer who’s worked with Unilever and the U.K.’s Cabinet Office. Munthe himself has been exploring the systemic issues of the media ecosystem for some time. From founding a small magazine in Lebanon, reporting in Iraq in 2003, then starting and exiting Demotix, to launching North Base Media (a media-focused VC).

The temptation, of course, is to allow bias to creep in return for commercial deals. But, says Menthe: “We will never work with political parties, and we will set up our own ethics advisory board. But that understanding should be of value to market researchers and institutions everywhere.”

So now you can find out how coronavirus will change the world.

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Acast partners with JioSaavn, one of India’s largest streaming audio services

Acast, a podcast monetization and distribution platform, announced a new partnership with JioSaavn, one of the largest streaming audio services in India. The agreement mean JioSaavn will distribute content from Acast and have access to its technology for podcasters.

JioSaavn, which claims 104 million monthly active users, is the second-largest streaming audio service in India after Gaana, and holds about 24% market share, according to an OTT Audience Measurement Insights report.

Podcasts from Acast’s network will be added to JioSaavn’s streaming app over the next two months. Based in Sweden, Acast focuses on developing ways to help podcasters monetize, including subscription paywalls and dynamic ads. Publishers on Acast’s network include the Guardian, BBC, the Financial Times and PBS NewsHour.

JioSaavn launched original programming in 2016, including JioSaavn podcasts, which it says now has more than 200 hours of original content.

In a press statement, Ishani Dasgupta, JioSaavn’s lead of podcast partnerships, said, “Podcasting is still largely nascent to consumers in the Indian market, with momentum growing quickly. The ability to grow and build new audiences, new shows and establish pathways for brands to access both is really just beginning for our 1.3 billion potential consumer market.”

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Waymo says it will resume driving operations starting in Phoenix next week

After suspending its self-driving operations at the end of March because of the COVID-19 pandemic, Waymo has announced it will resume driving operations on May 11 in Arizona.

Waymo will start its driving operations in the Phoenix area again, a decision the company says it made after discussions with “our teams, partners and local and state authorities,” before restoring them in other cities, including San Francisco, Detroit and Los Angeles.

Arizona’s stay at home order expires on May 15, but academic experts have expressed concern that Arizona hasn’t reached the peak of its COVID-19 outbreak yet and some who worked with the state government recently told the Washington Post that they were asked to “pause” work on projections and modeling.

The company’s announcement says this is the first step in a “tiered approach to safely resume our operations,” starting with its test fleet and then eventually offering Waymo One, its self-driving ride hailing service, again.

Waymo said it is following safety guidance from local and state governments, as well as the Centers for Disease Control and Prevention. Safety measures Waymo has implemented include requiring personnel to wear face masks in its facilities or vehicles, unless someone is driving alone in a vehicle and a partnership with AutoNation to clean cars several times a day.

The company says it has also limited maximum capacity and put in social distancing guidelines for its work areas, created health and safety training for its team and will work with occupational healthcare providers to screen people before they enter facilities.

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Owkin raises $25 million as it builds a secure network for healthcare analysis and research

Imagine a model of collaborative research and development among hospitals, pharmaceutical companies, universities and other research institutions where no one shared any actual data.

That’s the dream of the new New York-based startup Owkin, which has raised $25 million in fresh financing from investors, including Bpifrance Large Venture, Cathay Innovation and MACSF (the French Pension Fund for Clinicians), alongside previous investors GV, F-Prime Capital and Eight Roads

The company’s pitch is that data scientists, clinical doctors, academics and pharmaceutical companies can all log in to the virtual lab that Owkin calls the Owkin Studio.

In that virtual environment, all parties can access anonymized data sets and models exclusively to refine their own research and development and studies to ensure that the most cutting-edge insights into novel biomarkers, mechanisms of action and predictive models inform the work that all of the relevant parties are doing.

The ultimate goal, the company said, is to improve patient outcomes.

In its quest to get more companies and institutions to open up and share information — with the promise that the information can’t be extracted or used in a way that isn’t allowed by the owners of the data — Owkin is replicating work that other companies are pursuing in fields ranging from healthcare to financial services and beyond.

The Israeli company Qedit has developed similar technologies for the financial services industry, and Sympatic, a recent graduate from one of the recent batches of Techstars companies, is working on a similar technology for the healthcare industry.

Owkin makes money by enabling remote access to the data sets for pharmaceutical companies and licensing the models developed by universities to those companies. It’s a way for the company to entice researchers to join the platform and provide another revenue stream for research institutions who have seen their funding decline over the last 40 years.

We have a huge loop of academic universities that have access to the data and are developing algorithms and we share data,” said the company’s chief executive Dr. Thomas Clozel. “At the end what it helps is developing better drugs.”

Declines in federal funding for scientific research since the 1980s (Image courtesy of The Conversation)

The investment from Owkin’s new and existing investors takes the company to $55 million in total capital raised through the extension of its Series A round. In all, the round totaled $52 million, Clozet said.

“We are exactly where we need to be because it’s about privacy and privacy is more important than ever before,” said Clozet.

The COVID-19 epidemic has emphasized the need for closer collaboration among different corporations and research institutions, and that has also increased demand for the company’s technology. “It touches everything… We have access to the right data sets and centers to build the best models for COVID,” said Clozet. “We’re lucky to have the right traction before the COVID happens and we have the right research that has been done.”

In fact, the company has launched the Covid-19 Open AI Consortium (COAI), and is using its platform to advance collaborative research and accelerate clinical development of effective treatments for patients infected with the coronavirus, the company said. All of its findings will be shared with the global medical and scientific communities.

The initial focus on the research is on cardiovascular complications in COVID-19 patients in collaboration with CAPACITY, an international registry working with over 50 centers worldwide, the company said. Other areas of research will include patient outcomes and triage, and the prediction and characterization of immune response, according to Owkin.

“Since we first backed Owkin in 2017, we have been sharing its vision to apply AI to fighting one of the most dreadful diseases on earth: cancer,” said Jacky Abitbol, a partner at Cathay Innovation. “Owkin has risen to become a leader in digital health, we are proud to grow our investment in the company to fuel its ambition to pioneer AI for medical research, while preserving patient-privacy and data security.”

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Health APIs usher in the patient revolution we have been waiting for

Rish Joshi
Contributor

Rish is an entrepreneur and investor. Previously, he was a VC at Gradient Ventures (Google’s AI fund), co-founded a fintech startup building an analytics platform for SEC filings and worked on deep-learning research as a graduate student in computer science at MIT.

If you’ve ever been stuck using a health provider’s clunky online patient portal or had to make multiple calls to transfer medical records, you know how difficult it is to access your health data.

In an era when control over personal data is more important than ever before, the healthcare industry has notably lagged behind — but that’s about to change. This past month, the U.S. Department of Health and Human Services (HHS) published two final rules around patient data access and interoperability that will require providers and payers to create APIs that can be used by third-party applications to let patients access their health data.

This means you will soon have consumer apps that will plug into your clinic’s health records and make them viewable to you on your smartphone.

Critics of the new rulings have voiced privacy concerns over patient health data leaving internal electronic health record (EHR) systems and being surfaced to the front lines of smartphone apps. Vendors such as Epic and many health providers have publicly opposed the HHS rulings, while others, such as Cerner, have been supportive.

While that debate has been heated, the new HHS rulings represent a final decision that follows initial rules proposed a year ago. It’s a multi-year win for advocates of greater data access and control by patients.

The scope of what this could lead to — more control over your health records, and apps on top of it — is immense. Apple has been making progress with its Health Records app for some time now, and other technology companies, including Microsoft and Amazon, have undertaken healthcare initiatives with both new apps and cloud services.

It’s not just big tech that is getting in on the action: startups are emerging as well, such as Commure and Particle Health, which help developers work with patient health data. The unlocking of patient health data could be as influential as the unlocking of banking data by Plaid, which powered the growth of multiple fintech startups, including Robinhood, Venmo and Betterment.

What’s clear is that the HHS rulings are here to stay. In fact, many of the provisions require providers and payers to provide partial data access within the next 6-12 months. With this new market opening up, though, it’s time for more health entrepreneurs to take a deeper look at what patient data may offer in terms of clinical and consumer innovation.

The incredible complexity of today’s patient data systems

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Microsoft showcases 13 new titles for the Xbox Series X

With conferences canceled indefinitely, companies are increasingly reliant on online events to hype product launches. As they prepare to release a next-gen console before the end of the year, expect plenty of live streams and blogs from both Microsoft and Sony in an attempt to flesh out all that their respective systems have to offer.

Today, Microsoft took to YouTube, Mixer and Twitch to give the world a better idea of what to expect from the upcoming Xbox Series X release. Recent updates have, understandably, been largely focused on console hardware, as the company attempts to distinguish from the upcoming PlayStation — after all, the systems will likely be launched within weeks of one another.

This time out, however, games were very much the thing. The Xbox team showcased a baker’s dozen of titles this morning, including:

  • Assassin’s Creed Valhalla (Ubisoft)
  • Bright Memory Infinite (Playism)
  • Call of the Sea (Raw Fury)
  • DiRT 5 (Codemasters)
  • Madden NFL 21 (Electronic Arts)
  • Scarlet Nexus (Bandai Namco Entertainment)
  • Scorn (Ebb)
  • Chorus (Deep Silver)
  • Second Extinction (Systemic Reaction)
  • The Ascent (Neon Giant / Curve Digital)
  • The Medium (Bloober Team)
  • Vampire: The Masquerade – Bloodlines 2 (Paradox Interactive)
  • Yakuza: Like a Dragon (SEGA)

The company hasn’t issued specific dates for titles (those will largely be dependent on publisher), but a recent blog post notes, “Our goal remains to launch Xbox Series X and Halo Infinite this Holiday.” Clearly the MS’s language is more uncertain than earlier — after all, these are uncertain times we’re living in.

All of the above titles are “Xbox Series X Optimized,” which means they’ll be able to be played in 4K at 120FPS, load faster and utilize DirectX raytracing among others. Nine of the 13 also use Microsoft’s Smart Delivery System, which saves users from having to rebuy titles, regardless of the console it’s played on.

More info on the above can be found on Microsoft’s blog.

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Nintendo sells a lot more Switches, as people stay at home playing Animal Crossing

A couple of weeks ago, we noted some new NPD numbers pointing to a very good March for the Switch. Nintendo’s financials this week bear out the predicted surge in popularity for the three-year-old console.

The company has sold 21 million Switch units in the past year, handily beating a 19.5 million forecast; 6.2 million of those systems were the newer, cheaper Switch Lite, which hit the market in September. All of this comes as the company has run up against shortages through a combination of increased popularity and a global supply chain knocked off balance from COVID-19.

In spite of the increased difficulty in procuring a device at retail, the pandemic looks to have had a positive impact on Switch sales, as stay at home orders have increased interest. The arrival of Animal Crossing: New Horizons couldn’t have been better timed, either. The title fulfills both the increased demand for stationary entertainment as well as virtual socialization.

No surprise, then, that the game has become the console’s fastest selling. As of the end of March, 11.77 million copies have been sold. The figures make New Horizons the seventh best-selling Switch title of all time — between Pokémon: Let’s Go, Pikachu!/Eevee! And Splatoon 2 — in spite of having only been on sale for just over a month.

The year ahead may look at bit rockier for the company, however, with the arrival of next-gen consoles from Microsoft and Sony arriving this holiday season. 

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UK’s NHS COVID-19 app lacks robust legal safeguards against data misuse, warns committee

A UK parliamentary committee that focuses on human rights issues has called for primary legislation to be put in place to ensure that legal protections wrap around the national coronavirus contact tracing app.

The app, called NHS COVID-19, is being fast tracked for public use — with a test ongoing this week in the Isle of Wight. It’s set to use Bluetooth Low Energy signals to log social interactions between users to try to automate some contacts tracing based on an algorithmic assessment of users’ infection risk.

The NHSX has said the app could be ready for launch within a matter of weeks but the committee says key choices related to the system architecture create huge risks for people’s rights that demand the safeguard of primary legislation.

“Assurances from Ministers about privacy are not enough. The Government has given assurances about protection of privacy so they should have no objection to those assurances being enshrined in law,” said committee chair, Harriet Harman MP, in a statement.

“The contact tracing app involves unprecedented data gathering. There must be robust legal protection for individuals about what that data will be used for, who will have access to it and how it will be safeguarded from hacking.

“Parliament was able quickly to agree to give the Government sweeping powers. It is perfectly possible for parliament to do the same for legislation to protect privacy.”

The NHSX, a digital arm of the country’s National Health Service, is in the process of testing the app — which it’s said could be launched nationally within a few weeks.

The government has opted for a system design that will centralize large amounts of social graph data when users experiencing COVID-19 symptoms (or who have had a formal diagnosis) choose to upload their proximity logs.

Earlier this week we reported on one of the committee hearings — when it took testimony from NHSX CEO Matthew Gould and the UK’s information commissioner, Elizabeth Denham, among other witnesses.

Warning now over a lack of parliamentary scrutiny — around what it describes as an unprecedented expansion of state surveillance — the committee report calls for primary legislation to ensure “necessary legal clarity and certainty as to how data gathered could be used, stored and disposed of”.

The committee also wants to see an independent body set up to carry out oversight monitoring and guard against ‘mission creep’ — a concern that’s also been raised by a number of UK privacy and security experts in an open letter late last month.

“A Digital Contact Tracing Human Rights Commissioner should be responsible for oversight and they should be able to deal with complaints from the Public and report to Parliament,” the committee suggests.

Prior to publishing its report, the committee wrote to health minister Matt Hancock, raising a full spectrum of concerns — receiving a letter in response.

In this letter, dated May 4, Hancock told it: “We do not consider that legislation is necessary in order to build and deliver the contact tracing app. It is consistent with the powers of, and duties imposed on, the Secretary of State at a time of national crisis in the interests of protecting public health.”

The committee’s view is Hancock’s ‘letter of assurance’ is not enough given the huge risks attached to the state tracking citizens’ social graph data.

“The current data protection framework is contained in a number of different documents and it is nearly impossible for the public to understand what it means for their data which may be collected by the digital contact tracing system. Government’s assurances around data protection and privacy standards will not carry any weight unless the Government is prepared to enshrine these assurances in legislation,” it writes in the report, calling for a bill that it says myst include include a number of “provisions and protections”.

Among the protections the committee is calling for are limits on who has access to data and for what purpose.

“Data held centrally may not be accessed or processed without specific statutory authorisation, for the purpose of combatting Covid-19 and provided adequate security protections are in place for any systems on which this data may be processed,” it urges.

It also wants legal protections against data reconstruction — by different pieces of data being combined “to reconstruct information about an individual”.

The report takes a very strong line — warning that no app should be released without “strong protections and guarantees” on “efficacy and proportionality”.

“Without clear efficacy and benefits of the app, the level of data being collected will be not be justifiable and it will therefore fall foul of data protection law and human rights protections,” says the committee.

The report also calls for regular reviews of the app — looking at efficacy; data safety; and “how privacy is being protected in the use of any such data”.

It also makes a blanket call for transparency, with the committee writing that the government and health authorities “must at all times be transparent about how the app, and data collected through it, is being used”.

A lack of transparency around the project was another of the concerns raised by the 177 academics who signed the open letter last month.

The government has committed to publishing data protection impact assessments for the app. But the ICO’s Denham still hadn’t had sight of this document as of this Monday.

Another call by the committee is for a time-limit to be attached to any data gathered by or generated via the app. “Any digital contact tracing (and data associated with it) must be permanently deleted when no longer required and in any event may not be kept beyond the duration of the public health emergency,” it writes.

We’ve reached out to the Department of Health and NHSX for comment on the human rights committee’s report.

Let’s go through Matt Hancock’s letter to @HarrietHarman @HumanRightsCtte on the NHSX app and take a closer look at some of these statements 1/ https://t.co/sQe2U8wkiy

— Michael Veale (@mikarv) May 7, 2020

There’s another element to this fast moving story: Yesterday the Financial Times reported that the NHSX has inked a new contract with an IT supplier which suggests it might be looking to change the app architecture — moving away from a centralized database to a decentralized system for contacts tracing. Although NHSX has not confirmed any such switch at this point.

Some other countries have reversed course in their choice of app architecture after running into technical challenges related to Bluetooth. The need to ensure public trust in the system was also cited by Germany for switching to a decentralized model.

The human rights committee report highlights a specific app efficacy issue of relevance to the UK, which it points out is also linked to these system architecture choices, noting that: “The Republic of Ireland has elected to use a decentralised app and if a centralised app is in use in Northern Ireland, there are risks that the two systems will not be interoperable which would be most unfortunate.”

Professor Lilian Edwards, a legal expert from Newcastle University, who has co-authored a draft bill proposing a set of safeguards for coronavirus apps (much of which was subsequently taken up by Australia for a legal instrument that wraps public health contact info during the coronavirus crisis) — and who also now sits as an independent advisor on an ethics committee that’s been set up for the NHSX app — welcomed the committee report.

Speaking in a personal capacity she told TechCrunch: “My team and I welcome this.”

But she flagged a couple of omissions in the report. “They have left out two of the recommendations from my bill — one of which, I totally expected; that there be no compulsion to carry a phone. Because they will just be assumed within our legal system but I don’t think it would have hurt to have said it. But ok.

“The second point — which is important — is the point about there not being compulsion to install the app or to display it. And there not being, therefore, discrimination against you if you don’t. Like not being allowed to go to your workplace is an obvious example. Or not being allowed to go to a football game when they reopen. And that’s the key point where the struggle is.”

The conflict, says Edwards, is on the one hand you could argue what’s the point of doing digital contact tracing at all if you can’t make sure people are able to receive notifications that they might be a contact. But — on the other — if you allow compulsion that then “leaves it open to be very discriminatory” — meaning people could abuse the requirement to target and exclude others from a workplace, for example.

“There are people who’ve got perfectly valid reasons to not want to have this on their phone,” Edwards added. “Particularly if it’s centralized rather than decentralized.”

She also noted that the first version of her draft coronavirus safeguards bill had allowed compulsion re: having the app on the phone but required it to be balanced by a proportionality analysis — meaning any such compulsion must be “proportionate to a legitimate aim”.

But after Australia opted for zero compulsion in its legal instrument she said she and her team decided to revise their bill to also strike out the provision entirely.

Edwards suggested the human rights committee may not have included this particular provision in their recommendations because parliamentary committees are only able to comment on evidence they receive during an inquiry. “So I don’t think it would have been in their remit to recommend on that,” she noted, adding: “It isn’t actually an indication that they’re not interested in these concepts; it’s just procedure I think.”

She also highlighted the issues of so-called ‘immunity passports’ — something the government has reportedly been in discussions with startups about building as part of its digital coronavirus response, but which the committee report also does not touch on.

However, without full clarity on the government’s evolving plans for its digital coronavirus response, and with, inevitably, a high degree of change and flux amid a public health emergency situation, it’s clearly difficult for committees to interrogate so many fast moving pieces.

“The select committees have actually done really, really well,” added Edwards. “But it just shows how the ground has shifted so much in a week.”

This report was updated with additional comment

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