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What the iPhone 11 says about Apple’s present — and future

No matter how much polish and Apple magic the company put on today’s big event, there was one unshakable truth that colored the goings-on: phones just aren’t selling like they used to. And unlike other industry-wide trends, Apple isn’t immune. The large-scale slowdown of smartphone sales has had an undeniable impact on the company’s bottom line.

Casual observers may not have noticed, but that harsh truth impacted nearly every mobile announcement onstage today at the Steve Jobs theater. Two elements in particular really stood out, however:

  1. Content and services taking center stage.
  2. Apple rethinking how the iPhone is positioned.

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These brothers just raised $15 million for their startup, Dutchie, a kind of Shopify for cannabis dispensaries

Ross Lipson comes from an entrepreneurial family, so perhaps it’s no wonder that as a college student, he dropped out of school to jump into the online food space, including co-founding, then selling, one of Canada’s first online food ordering service startups.

It’s even less surprising that having gone through that experience, Lipson would use what he learned in the service of another startup: Dutchie, a two-year-old, 36-person, Bend, Ore.-based startup whose software is used by a growing number of cannabis dispensaries that pay the startup a monthly subscription fee to create and maintain their websites, as well as to accept orders and track what needs to be ready for pickup.

The decision is looking like a smart one right now. Dutchie says it’s now being used by 450 dispensaries across 18 states and that it’s seeing $140 million in gross merchandise volume. The company also just locked down $15 million in Series A funding led by Gron Ventures, a new cannabis-focused venture fund with at least $117 million to invest. Other participants in the round include earlier backers Casa Verde Capital, Thirty Five Ventures (founded by NBA star Kevin Durant and sports agent Rich Kleiman), Sinai Ventures and individual investors, including Shutterstock founder and CEO Jon Oringer.

Altogether, Dutchie (named after the song), has now raised $18 million. We talked earlier today with Lipson about the company, its challenges and working with his big brother Zach, himself a serial entrepreneur who co-founded Dutchie and today serves as its chief product officer while Ross serves as CEO.

TC: It’s so interesting when siblings team up. Did you always get along with your brother?

RL: We complement each other strongly. I’m energy, I’m sales and business development. I’m fast-moving by nature and the guy who wants to drive the car as fast as possible. Zach is the one who wants to make sure that we’re doing everything right. He’s the methodical one. We really do understand each other quite well and appreciate each other’s strengths and weaknesses, which enables us to meet in the middle on a lot of things.

TC: It’s also interesting that you’ve both been founders beginning around the time you were in college. Were your parents entrepreneurs?

RL: Our father is a founder and has run his own business for the last 35 years. Our parents also always pitched us that anything is possible and encouraged us to go for it. He was the dreamer and our mom was the cheerleader, which is a pretty nice combination.

TC: You started Dutchie a couple of years ago. Is running this startup more or less challenging than your experience in the food delivery business?

RL: It’s our second year in business, and we’ve seen some explosive, unprecedented growth. As for whether it’s harder or easier than food, we’re very product and user-centric, and by that we mean consumers but also dispensaries. We’re focused on the customer all day, every day, with a team that ensures that they have support, that they receive their orders, that the orders are out the door quickly or at least, ready for pickup. We make sure the photos work, that different potencies are marked. Our system is kind of like a Shopify of the cannabis space maybe meets DoorDash.

TC: You don’t deliver, though.

RL: No. We don’t do delivery for legal reasons; the dispensaries [handle this piece].

TC: You’re charging like other software-as-service businesses. Do you also take a cut of each sale?

RL: We don’t charge on transaction volume.

TC: You’re working with 450 dispensaries. Is there any way to know what percentage of the overall market that is, and how much is left for you to chase after?

RL: First, there are more than 30 states where cannabis is either medically legal or that have legalized the recreational use of marijuana and we operate in both types of markets. It’s hard to know the actual count [of dispensaries], because they are always being formed, getting acquired or going out of business, but counting registered dispensaries, we work with more than 15% of them right now.

TC: Who are your biggest competitors? Eaze? Leafly? They also help consumers find cannabis and, in Eaze’s case, deliver it, too.

RL: Eaze is more focused on delivery where we’re more focused on pickup. It’s also only available in California and Oregon, whereas we’re in 18 states. They educate the consumer about online ordering, which is great, but they also own the consumer experience, where we’re really powering the dispensary.

Leafly and Weedmaps are really different types of platforms; they’re mostly known for their dispensary and strain reviews, where we’re strictly an online ordering service.

TC: You’ve raised a big Series A for a company in the cannabis space. Do you have concerns about there being later-stage funding available when you need it?

RL: It’s true the most investors still haven’t touched cannabis, though you are seeing bigger deals. Thrive Capital led that [$35 million] round in [the online cannabis inventory and ordering platform] LeafLink [last month]. You saw Tiger Global [lead a $17 million round ] in [the software platform for cannabis dispensaries] Green Bits last summer. It’s a big advantage to the funds that can right now invest because there are these barriers to entry; they’re finding deals that are promising and they can get in early and without competition.

Pictured, left to right, above: Ross and Zach Lipson

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Peloton plots $1.2B Nasdaq IPO

Peloton, which debuted its IPO prospectus last month, plans to charge as much as $29 per share in its upcoming Nasdaq listing.

In an amended S-1 filing released Tuesday afternoon, the developer of internet-connected stationary bikes and treadmills announced a proposed price range of $26 to $29 per share, allowing the company to raise as much as $1.2 billion in its 2019 public offering.

At the high end of the proposed price, Peloton’s valuation would surpass $8 billion. The business is expected to launch its IPO roadshow as soon as Wednesday, according to Bloomberg.

New York-based Peloton will trade under the ticker symbol PTON. Goldman Sachs & Co. and J.P. Morgan Securities are managing the IPO as lead underwriters.

Peloton, founded in 2012, raised $550 million in venture capital funding last year at a valuation of $4.15 billion. In total, the company has attracted $994 million in venture capital investment, according to PitchBook. Its S-1 filing lists CP Interactive Fitness (5.4% pre-IPO stake) — an entity connected to the private equity firm Catterton — TCV (6.7%), Tiger Global (19.8%), True Ventures (12%) and Fidelity Investments (6.8%) as principal stakeholders, or investors with at least a 5% stake in the company.

Peloton reported an impressive $915 million in total revenue for the year ending June 30, 2019, an increase of 110% from $435 million in fiscal 2018 and $218.6 million in 2017. Its losses, meanwhile, hit $245.7 million in 2019, up significantly from a reported net loss of $47.9 million last year.

The company’s upcoming float is expected to be one of the largest of the year.

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AdRoll becomes NextRoll and launches new platform services business

The AdRoll Group has a new name — NextRoll — designed to reflect the company’s moves beyond ad retargeting.

“We have, for the longest time, been pigeonholed as a retargeting company, but the reality is that we have really been evolving,” CEO Toby Gabriner told me.

To be clear, the AdRoll retargeting business isn’t going away. But the company subsequently introduced RollWorks, which offers business-to-business marketing tools, and today it’s launching a third unit, NextRoll Platform Services.

Gabriner became CEO of AdRoll in November 2017, and he said the rebrand has been in the works for a while now. When the company launched the RollWorks product last year, both business units continued to operate under The AdRoll Group umbrella, but Gabriner said that was always “a temporary placeholder.”

He added, “We’re now a year and a half into the RollWorks brand launch and it’s firmly planted on its own two feet. It makes a ton of sense for us to move onto the NextRoll brand. This was always planned.”

As for how NextRoll Platform Services fits into that strategy, the company describes it as a “marketing-technology-as-a-service offering.” Gabriner explained that it provides access to AdRoll’s underlying technologies through APIs, allowing businesses to bring these capabilities into other ad products, or to resell them as part of their own platforms.

The initial offerings are Channels-as-a-Service, which allows businesses to extend their marketing to new channels, and Audiences-as-a-Service, which turns audience data into targetable segments.

“This is something we’ve been pulled by a lot of customers to do,” Gabriner said. “What we’ve been doing over the last couple of years is externalizing those services so people outside of the company, developers, would have an easier time using them. [Now we’ve] gone that last mile of making them commercially friendly.”

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Hatebase catalogues the world’s hate speech in real time so you don’t have to

Policing hate speech is something nearly every online communication platform struggles with. Because to police it, you must detect it; and to detect it, you must understand it. Hatebase is a company that has made understanding hate speech its primary mission, and it provides that understanding as a service — an increasingly valuable one.

Essentially Hatebase analyzes language use on the web, structures and contextualizes the resulting data, and sells (or provides) the resulting database to companies and researchers that don’t have the expertise to do this themselves.

The Canadian company, a small but growing operation, emerged out of research at the Sentinel Project into predicting and preventing atrocities based on analyzing the language used in a conflict-ridden region.

“What Sentinel discovered was that hate speech tends to precede escalation of these conflicts,” explained Timothy Quinn, founder and CEO of Hatebase. “I partnered with them to build Hatebase as a pilot project — basically a lexicon of multilingual hate speech. What surprised us was that a lot of other NGOs [non-governmental organizations] started using our data for the same purpose. Then we started getting a lot of commercial entities using our data. So last year we decided to spin it out as a startup.”

You might be thinking, “what’s so hard about detecting a handful ethnic slurs and hateful phrases?” And sure, anyone can tell you (perhaps reluctantly) the most common slurs and offensive things to say — in their language… that they know of. There’s much more to hate speech than just a couple ugly words. It’s an entire genre of slang, and the slang of a single language would fill a dictionary. What about the slang of all languages?

A shifting lexicon

As Victor Hugo pointed out in Les Miserables, slang (or “argot” in French) is the most mutable part of any language. These words can be “solitary, barbarous, sometimes hideous words… Argot, being the idiom of corruption, is easily corrupted. Moreover, as it always seeks disguise so soon as it perceives it is understood, it transforms itself.”

Not only is slang and hate speech voluminous, but it is ever-shifting. So the task of cataloguing it is a continuous one.

Hatebase uses a combination of human and automated processes to scrape the public web for uses of hate-related terms. “We go out to a bunch of sources — the biggest, as you might imagine, is Twitter — and we pull it all in and turn it over to Hatebrain. It’s a natural language program that goes through the post and returns true, false, or unknown.”

True means it’s pretty sure it’s hate speech — as you can imagine, there are plenty of examples of this. False means no, of course. And unknown means it can’t be sure; perhaps it’s sarcasm, or academic chatter about a phrase, or someone using a word who belongs to the group and is attempting to reclaim it or rebuke others who use it. Those are the values that go out via the API, and users can choose to look up more information or context in the larger database, including location, frequency, level of offensiveness, and so on. With that kind of data you can understand global trends, correlate activity with other events, or simply keep abreast of the fast-moving world of ethnic slurs.

hatebase map

Hate speech being flagged all around the world — these were a handful detected today, along with the latitude and longitude of the IP they came from.

Quinn doesn’t pretend the process is magical or perfect, though. “There are very few 100 percents coming out of Hatebrain,” he explained. “It varies a little from the machine learning approach others use. ML is great when you have an unambiguous training set, but with human speech, and hate speech, which can be so nuanced, that’s when you get bias floating in. We just don’t have a massive corpus of hate speech, because no one can agree on what hate speech is.”

That’s part of the problem faced by companies like Google, Twitter, and Facebook — you can’t automate what can’t be automatically understood.

Fortunately Hatebrain also employs human intelligence, in the form of a corps of volunteers and partners who authenticate, adjudicate, and aggregate the more ambiguous data points.

“We have a bunch of NGOs that partner with us in linguistically diverse regions around the world, and we just launched our ‘citizen linguists’ program, which is a volunteer arm of our company, and they’re constantly updating and approving and cleaning up definitions,” Quinn said. “We place a high degree of authenticity on the data they provide us.”

That local perspective can be crucial for understanding the context of a word. He gave the example of a word in Nigeria, which when used between members of one group means friend, but when used by that group to refer to someone else means uneducated. It’s unlikely anyone but a Nigerian would be able to tell you that. Currently Hatebase covers 95 languages in 200 countries, and they’re adding to that all the time.

Furthermore there are “intensifiers,” words or phrases that are not offensive on their own but serve to indicate whether someone is emphasizing the slur or phrase. Other factors enter into it too, some of which a natural language engine may not be able to recognize because it has so little data concerning them. So in addition to keeping definitions up to date, the team is also constantly working on improving the parameters used to categorize speech Hatebrain encounters.

Building a better database for science and profit

The system just ingested its millionth hate speech sighting (out of perhaps tens times that many phrases evaluated), which sounds simultaneously like a lot and a little. It’s a little because the volume of speech on the internet is so vast that one rather expects even the tiny proportion of it constituting hate speech to add up to millions and millions.

But it’s a lot because no one else has put together a database of this size and quality. A vetted, million-data-point set of words and phrases classified as hate speech or not hate speech is a valuable commodity all on its own. That’s why Hatebase provides it for free to researchers and institutions using it for humanitarian or scientific purposes.

hatebase how

But companies and larger organizations looking to outsource hate speech detection for moderation purposes pay a license fee, which keeps the lights on and allows the free tier to exist.

“We’ve got, I think, four of the world’s ten largest social networks pulling our data. We’ve got the UN pulling data, NGOs, the hyper local ones working in conflict areas. We’ve been pulling data for the LAPD for the last couple years. And we’re increasingly talking to government departments,” Quinn said.

They have a number of commercial clients, many of which are under NDA, Quinn noted, but the most recent to join up did so publicly, and that’s TikTok. As you can imagine, a popular platform like that has a great need for quick, accurate moderation.

In fact it’s something of a crisis, since there are laws coming into play that penalize companies enormous amounts if they don’t promptly remove offending content. That kind of threat really loosens the purse strings; If a fine could be in the tens of millions of dollars, paying a significant fraction of that for a service like Hatebase’s is a good investment.

“These big online ecosystems need to get this stuff off their platforms, and they need to automate a certain percentage of their content moderation,” Quinn said. “We don’t ever think we’ll be able to get rid of human moderation, that’s a ridiculous and unachievable goal; What we want to do is help automation that’s already in place. It’s increasingly unrealistic that every online community under the sun is going to build up their own massive database of multilingual hate speech, their own AI. The same way companies don’t have their own mail server any more, they use Gmail, or they don’t have server rooms, they use AWS — that’s our model, we call ourselves hate speech as a service. About half of us love that term, half don’t, but that really is our model.”

Hatebase’s commercial clients have made the company profitable from day one, but they’re “not rolling in cash by any means.”

“We were nonprofit until we spun out, and we’re not walking away from that, but we wanted to be self-funding,” Quinn said. Relying on the kindness of rich strangers is no way to stay in business, after all. The company is hiring and investing in its infrastructure, but Quinn indicated that they’re not looking to juice growth or anything — just make sure the jobs that need doing have someone to do them.

In the meantime it seems clear to Quinn and everyone else that this kind of information has real value, though it’s rarely simple.

“It’s a really, it’s a really complicated problem. We always grapple with it, you know, in terms of, well, what role does hate speech play? What role does misinformation play? What role do socioeconomics play?” he said. “There’s a great paper that came out of the University of Warwick, they studied the correlation between hate speech and violence against immigrants in Germany over, I want to say, 2015 to 2017. They graph it out. And its peak for peak, you know, valid for Valley. It’s amazing. We don’t do a hell of a lot of analysis — we’re a data provider.”

“But now have like, almost 300 universities pulling the data, and they do those kinds of those kinds of analyses. So that’s very validating for us.”

You can learn more about Hatebase, join the Citizen Linguists or research partnership, or see recent sightings and updates to the database at the company’s website.

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iPhone 11 Pro hands-on

More than any other iPhone event in recent memory, today’s big launch was content-first. Apple began the show with several gaming demos from Arcade, before moving along to TV+ premieres. The new iPhone didn’t necessarily take a backseat, but there’s little question that this event was a key piece in shifting messaging for the company.

The big announcement also saw a shift in iPhone positioning against a backdrop of declining smartphone sales. There are a number of reasons why device sales are down across the board, of course — I along with everyone else in the industry have written about them dozens if not hundreds of times. Price creep is a big one, and the iPhone 11 finds the company readjusting accordingly.

The device takes the spot of the R line — a big seller for Apple. This time the entry-level “flagship” is $699, while the Pro and Pro Max step in for the premium-tier devices, priced at $999 and $1,099, respectively. Apple set those prices with the iPhone X two years ago and hasn’t looked back.

Apple has also really settled into a style. The 11s are virtually indistinguishable from their predecessors, head on. The screens have been souped-up to “Super Retina XDR” on the Pros. Both are 458 PPI, at 5.8 and 6.5 inches, respectively.

Apple iPhone 11

The notch remains, even as companies like Samsung push into a subtler cut-out model (not to mention all of those companies currently experimenting with pop-up cameras). Ditto, unfortunately, for the Lightning port. Apple’s ditched it for USB-C on the iPad Pro and, honestly, I can’t wait for it to follow suit on the iPhone. I go through what feels like a Lightning cable a month, due to wear and tear on the connection.

That will have to wait until 2020 (fingers crossed). So, too, will 5G, though the company did allude to “faster cellular” in a quick rundown of all the features it didn’t have time to announce onstage. Ditto for the rumored improved FaceTime camera. That should work faster and from more angles, so you’ll (theoretically) be able to check messages while the phone is laying flush on a table. Huge, if true.

Apple iPhone 11 8245 4CCE AEA3 A3CC65F5E188

Speaker of cameras, that’s the biggie here, of course. It continues to be the last vestige for smartphone innovation. Again, hardware is just kind of good on smartphones. There doesn’t appear to be a ton of room for innovation, but for the camera. The iPhone 11 ditches telephoto, for wide and ultra-wide-angle lenses. The Pros, meanwhile, add telephoto it back in.

The three cameras on the Pros are as follows:

12MP wide angle camera (26mm f/1.8), a 12MP ultra wide (13mm f/2.4), plus a 12MP telephoto camera (52mm f/2.0). All are capable of shooting 4K video at 60FPS.

They’re in an odd square array (versus, say, the three down vertical on Samsung’s latest). In fact, all versions of the iPhone 11 have a camera box bump on the rear, for the sake, one imagines, of aesthetic uniformity. As we’ve noted before, most of the innovation in smartphone cameras is happening on the software side, and that appears to be the case here. The big feature is Deep Fusion.

iPhone 11 Apple

It works similarly to HDR photos, creating a massive composite. Here it uses nine photos, with the optimal pixels chosen by on-board machine learning for super-fancy photos that should greatly reduce image noise.

The devices are the first to sport Apple’s new A13 chip, which promises much faster processing — the “fastest ever on a smartphone,” according to the company. That, naturally, means more and better gaming, bringing us right back around to the content play we were discussing at the top of this story.

Understandably, what you can do with the phone has become a much larger selling point for Apple than the phone itself. You’ll be able to get your hands on the device starting September 20. 

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Assassin’s Creed Odyssey gets an educational mode — complete with quizzes

In my review of Assassin’s Creed: Odyssey, I was blown away by the authenticity and level of detail in the game world. The game itself — well, it was fine. But the highlight was ancient Greece in all its classical splendor, and a new educational Discovery Tour mode aims to teach the history of that society through a gaming lens.

The free update, available now to anyone who owns the game, adds dozens of historical “tours” guided by a NPC, in which you can learn about the cities of ancient Greece, the life and crafts of the people who lived there, what they believed and how they were governed, and of course the many famous battles of the era.

It’s an expanded version of a similar feature created for Assassin’s Creed: Origins, which was set in ancient Egypt. It seemed wasteful then, as in Odyssey, to create such a rich world and just have you stab your way through it. Obviously others at Ubisoft felt the same way, especially Discovery Mode director Maxime Durand, who says he envisioned a feature like this a decade ago.

teach odyssey

And how could you not with the Assassin’s Creed series? From the very first one players were immersed in a painstakingly recreated period of history that gave variously accurate but always compelling experiences of really living in that bygone era. All the work that went into making it convincing can easily — well, perhaps not easily, but directly — be applied to educating the player as well as thrilling them.

And quizzing them! The end of each guided tour will have an optional live quiz-type chat with the guide, which Ubisoft assures players will be fun and not for a grade. I’d probably skip it myself. But history teachers will probably make you do it for extra credit or something.

lostwax

There are 30 discovery sites, each with its own tour and modern-day context, so for example an artist in-game may explain how they sculpt, but then you’ll also see a museum artifact showing the process in “real life.”

Here’s hoping the history lessons are a little less lenient on the topic of slavery than some of the quests were.

“I think learning is a lot about agency… as soon as someone tells you you have to learn about something, there’s some of the fun taken away from it,” said Ubisoft’s Alicia Fortier. “So if we look at learning as play and as exploring, we need to make sure players can focus on what’s interesting to them and then they’ll naturally get more curious.”

The Discovery Tour update is free for all players today. Go, learn something.

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JobTeaser scores £45M for its graduate recruitment platform

JobTeaser, the graduate recruitment and career guidance platform, has raised £45 million in new funding to help it expand its careers service to more students across the U.K. and Europe.

The investment is led by Highland Europe, with continued backing from existing investors Alven, Idinvest Partners, Seventure Partners and Korelya Capital. It brings the total amount raised to £61 million since the company was founded all the way back in 2008.

JobTeaser says the funding will be used to expand JobTeaser’s partner network of schools and universities across the U.K. and Ireland.

That company’s aim is to become the official careers website for its education partners. The promise is that it can connect more students and graduates to the careers they seek and in turn help corporates and organisations plug gaps in the talent and skills they need.

“We believe the transition between University and the professional world is very difficult for young talent,” Adrien Ledoux, co-founder of JobTeaser, tells me. “A lot of young talent feel lost when it comes to choosing their career; in the survey that we conducted with WISE this year, we discovered that 9 out of 10 young people in Europe want better support to define their career choices.”

Ledoux says JobTeaser’s goal is to transform the way students and recent graduates find work by helping them choose a career path that fits with their aspirations and ambitions. “We are convinced that if each young talent puts their energy into the right job, all of society benefits from it,” he says

To achieve this mission, JobTeaser has built a platform that combines bespoke career guidance with internships, job opportunities and ongoing career and interview support.

In order to reach the largest number of students and recent graduates, JobTeaser provides its “Career Centre by JobTeaser” platform free of charge to universities. It then charges businesses a fee to advertise jobs to that captive audience.

“Businesses can access talent at the right place (the university) and at the right time (when they are looking for their first job),” explains Ledoux. “Our platform allows businesses to pay once to multi-post their job ads and employer-branded content in a single click, which then goes out to all of JobTeaser’s partner higher education institutions.”

It’s this business model that allows JobTeaser to reach businesses, universities and prospective young jobseekers across 19 European countries, says the JobTeaser co-founder.

Since its launch, JobTeaser says it has served 2.5 million students and recent graduates. The company works with more than 70,000 businesses, including Amazon, PWC, Deutsche Bank, Blackrock, L’Oréal and LVMH.

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iOS 13 will be available on September 19

Apple announced in a press release that iOS 13 will be available on September 19. Even if you don’t plan to buy a new iPhone, you’ll be able to get a bunch of new features.

But that’s not all. iOS 13.1 will be available on September 30. Apple had to remove some features of iOS 13.0 at the last minute as they weren’t stable enough, such as Shortcuts automations and the ability to share your ETA in Apple Maps. That’s why iOS 13.1 will be released shortly after iOS 13.

As always, iOS 13 will be available as a free download. If you have an iPhone 6s or later, an iPhone SE or a 7th-generation iPod touch, your device supports iOS 13.

In addition, watchOS 6 will be released on September 19. Unfortunately, Apple will release iPadOS 13 on September 30. And it looks like tvOS 13 will also be released on September 30, according to a separate press release.

Here’s a quick rundown of what’s new in iOS 13. This year, in addition to dark mode, it feels like every single app has been improved with some quality-of-life updates. The Photos app features a brand new gallery view with autoplaying live photos and videos, smart curation and a more immersive design.

This version has a big emphasis on privacy, as well, thanks to a new signup option called “Sign in with Apple” and a bunch of privacy popups for Bluetooth and Wi-Fi consent. Apple Maps now features an impressive Google Street View-like feature called Look Around. It’s only available in a handful of cities, but I recommend… looking around, as everything is in 3D.

Many apps have been updated, such as Reminders with a brand new version, Messages with the ability to set a profile picture shared with your contacts, Mail with better text formatting options, Health with menstrual cycle tracking, Files with desktop-like features, Safari with a new website settings menu, etc. Read more on iOS 13 in my separate preview.

On the iPad front, for the first time Apple is calling iOS for the iPad under a new name — iPadOS. Multitasking has been improved, the Apple Pencil should feel snappier, Safari is now as powerful as Safari on macOS and more.

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All the weird stuff that happens to you after you close your round

Matt Rodak
Contributor

Matt Rodak is the founder and CEO of Fund That Flip, a market-leading residential real estate investment platform.

We just closed our $11 million Series A financing, and within 15 minutes of the news hitting the wire, the weirdness began. It turns out that once you announce to the world that you have money, everyone wants a piece. Some want to earn your business, some actually want your business, some want you to move your business, and others just want to straight-up steal your business.

These are the weird things that no one tells you will happen after you close your round that I’m hoping you will find helpful, insightful and maybe spare you a headache or two.

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