Why do startups fail? This Harvard professor blames the ‘speed trap’

How fast is too fast? Fab.com cofounder and CEO Jason Goldberg learned the hard way. When it launched in 2011, Fab was a flash-sale site that curated distinctively designed consumer products and sold them at deeply discounted prices. It was an instant hit. Fab’s featured offers spread like wildfire through social media, so Fab didn’t have to spend any money on marketing—initially. The products were shipped directly to consumers by their designers, so Fab didn’t hold any inventory—initially. As a result, the fledgling venture had positive cash flow—temporarily. To prepare for further growth, Fab raised $320 million in venture capital Read More …

Discord and Slack are becoming potent tools for malware attacks

Attackers are finding the file-sharing capabilities in popular group-chat apps such as Discord and Slack a convenient way to distribute malware, warns a new report from Cisco Talos, Cisco’s threat intelligence unit. The risk isn’t just that hackers can gain access to a particular channel and trick people in it into downloading malware. Once a file containing malicious code is uploaded, attackers can also grab a freely accessible link to that file where it’s hosted on the chat system’s servers. Then, they can send that link to people via phishing emails, misleading texts, or any other method they have of reaching potential victims. In some cases, malware can connect to these sorts of links to download additional malicious code once it’s already running on victims’ machines. Some malware also uses group-chat apps to share data with and receive commands from the people operating it, according to the report. In particular, Discord has an API (application programming interface) that enables programs to automatically post messages to channels on the service via a digital address called a webhook. That’s useful for many legitimate purposes, but it’s also valued by malware creators who want their software to essentially phone home from infected machines. And during the coronavirus pandemic, as more people are using platforms such as Discord and Slack to stay in touch with friends, coworkers, and others, so too are criminals moving to these tools for their own convenience, according to the Cisco Talos researchers. Malware and commands sent through these channels can blend in with other, legitimate traffic. “We’ve seen a marked increase in the abuse of collaboration apps like Discord and Slack to be used to both distribute malware and as a command-and-control system,” says Nick Biasini, a Cisco Talos threat researcher who worked on the report. Functionality such as that offered by Discord “allows them to manage command and control without having to manage their own server.” One challenge for people trying to thwart these attacks is that malware and commands sent through these channels can blend in with other, legitimate traffic to files and chat rooms hosted on these platforms. Seeing a URL that mentions Discord, Slack, or another trusted channel might also help lull users into a false sense of security when it appears in a phishing email. And it’s also not possible for security experts to take down the domain hosting the malicious content, since it’s commingled with legitimate Slack or Discord files from around the world rather than on a domain of its own. In some cases, hackers use malware to harvest digital access tokens that can be used to connect to Discord, according to the report. Read More …

The ‘Space Jam 2’ trailer shows how old Hollywood is dying

Like its beloved predecessor, the new  Space Jam , subtitled  A New Legacy , features a host of familiar Looney Tunes characters. There’s Bugs Bunny, of course, and Daffy Duck and Yosemite Sam, all of whom starred alongside Michael Jordan in the original 1996 film. Back then, the commingling of two worlds—the NBA and kids’ cartoons—felt exciting and fresh. More than two decades later, however, commingling is far too quaint a word to describe the veritable orgy of Warner Bros. Read More …

Despite the rise of remote work, tech hubs are here to stay

With the pandemic reshaping the way we work, many articles predict the demise of cities as startup hubs and promote the ascendancy of remote (and rural) tech capitals. While the technology-enabled exodus to remote workforces has been a blessing for companies operating under COVID-19 restrictions—and dramatically increased opportunities for disabled workers—don’t rush to that tiny rural town too soon. The attractions of cities are less enticing during a lockdown, to be sure. But in the long-term, metropolitan areas offer advantages that can’t be duplicated in fully remote settings. The diversity of cities provides fertile ground for connecting with people who share similar passions and interests. Whatever your preference, whether personal or professional, cities have a large population of others who can spark and nurture creativity and innovation. The suburban flight we saw in the 1950s and ’60s has reversed, led by younger people who value the amenities and attractions of urban life. Walkability and access to bike lanes and ride-share services allow reduced reliance on automobiles. Vibrant cultural scenes, restaurants, and retail are obviously big draws, which will become even more attractive on the other side of the pandemic. Where people once retreated to suburbs when starting their families, many cities now have competitive and desirable schools—enhanced by nearby parks, museums, and child-friendly activities. As population density is increased, each individual’s carbon footprint is lowered. And there are huge economies of scale in areas like healthcare and public transportation Read More …

Why the Air Force has its own venture capital fund

The Defense Department is trying to renew its once robust relationship with Silicon Valley to find the technologies needed to confront 21st-century threats. The Air Force is taking the novel approach of establishing a venture capital firm within its ranks that locates, invests in, and opens doors for promising defense startups. AFVentures is a division of an Air Force technology acquisition and development group called AFWerx (the AF stands for Air Force and Werx is shorthand for “work project”) established in 2017. AFWerx is something like the Defense Innovation Unit (DIU) within the DOD, which began looking into the private sector for promising defense technologies back in 2015. For many years the DOD has relied chiefly on technologies developed either within the government or by a small group of large contractors such as Boeing or Raytheon. There’s a growing belief within defense circles that to address the new nontraditional and cyberwarfare threats on the horizon, the U.S. needs to tap into the cutting-edge innovation happening outside those universes. Sidestepping the ‘Valley of Death’ One of the biggest things AFVentures does is help small startups survive the brutal process of qualifying for a defense contract. The DOD’s procurement process is famous for its complexity and slowness. It’s a five-phase affair that starts with technology analysis, then moves to product prototyping, then engineering and manufacturing, then production and deployment, and ends with operations and support—and that’s if the project isn’t rejected or starved of funding. It’s a mind-numbingly labyrinthine system clogged with red tape and paperwork. Larger contractors have large staffs of people to wade through the process, but smaller tech companies face a real challenge managing all the work. That means a smaller startup might do a successful pilot project for a branch of the military but then parish while waiting for a sustainable long-term contract to materialize. Read More …