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Business Survival Tips For The Coronavirus Era
Business Survival Tips For The Coronavirus Era
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As uncertainty around coronavirus spreads, big venture capital firms in S.F. and L.A. are cautioning companies to prepare. Senior reporter Ben Bergman speaks with Upfront Ventures' Mark Suster about the advice he's giving companies in his portfolio. Rachel Uranga wraps up this year's Montgomery Summit, which was heavy on hand sanitizer and investor pitches. GeekWire looks at a new report on whether travel restrictions' can stem the spread of COV1D-19, and Quibi announces a launch date.
The most prominent venture capitalist in Los Angeles is sounding the alarm bells over coronavirus, warning it is likely to be a "black swan" event.
"We've been telling our companies to cut their burn rates, pad their balance sheets and not to be precious about valuation," Suster told dot.LA. "Survival is way more important."
At this year's Montgomery Summit, handshaking was out and everyone from financier Michael Milken to bankers and venture capitalists had an opinion about the coronavirus. Between pitch sessions from 3D rocket-makers and interactive game publishers, attendees sipped matcha lattes, pumped hand sanitizer and talked deals. Read more >>
It's almost go time for Jeffrey Katzenberg: Quibi announced it will launch on April 6, and unveiled a slate of 50 shows and movies ready to stream. The short-form video streaming service also unveiled a 90-day free trial to help it compete with Apple TV, Disney Plus, and Netflix. The company — whose name is short for "quick bites" because it offers content in 10 minute or so increments — said it will charge users $4.99 with ads, and $7.99 without. That puts it a bit on the pricey range compared to competitors. Quibi has raised about $1.8 billion, and will feature mostly unscripted programming such as talk shows along with four scripted shows.
"We're in a marathon, not a sprint," Katzenberg told The Wrap in an exclusive interview. "Disney+ is a 100-year brand with the most valued and important generational IP on earth, ever. We're a different use case, and we don't have the same brand recognition. So we don't think we'll take off like a rocket ship. We think it's something we build over the course of several years." Read more >>
Computer modeling indicates travel restrictions imposed by authorities in China and other nations have delayed the progress of the outbreak by a matter of days or weeks. The models suggest that the best way to mitigate the epidemic isn't may be through public health interventions and behavioral changes — such as frequent hand-washing and social distancing. Read more >>