Technology
A new VC focusing on gaming in Turkey shows that the industry there continues to gain popularity
![](https://360wisemedia.com/wp-content/uploads/2024/04/A-new-VC-focusing-on-gaming-in-Turkey-shows-that.jpg)
Turkey has gained a well-deserved fame as a veritable hotbed of mobile gaming startups, which has led to the emergence of VCs dedicated to the sector. The latest addition to this coterie is Laton Ventures, a new gaming-focused VC fund that has raised a $35 million fund. Founding partner – and Solo GP – Görkem Türk says his goal is to construct a bridge between the Turkish gaming ecosystem and the remainder of the world by investing at pre- and seed stages. The fund is legally domiciled in the Netherlands.
As an emerging market with a young population, Turks have devoured mobile games as fast as they will be produced, leading to the creation of over 740 gaming startups. Over 48% of Turkey’s 86 million individuals are under 30 years old, and over 92% of web users play games in Turkey compared to the global average of 82%.
Indeed, between 2018 and 2022, Turkish startups in the gaming industry lifted up financing in excess of $1 billion.
It have to be admitted that Laton has some competition. At least they at the moment are 25 VC funds that invest in video game startups based in Turkey. That said, most invest in other tech sectors as well.
Türk, a former gaming and startup manager at Google, explained to me in a phone interview that Laton plans to differentiate itself by emphasizing operational consulting for its portfolio corporations.
“We position ourselves as a bridge between the Turkish gaming ecosystem, which is prospering, and the international gaming ecosystem. Second, we’ll double operational support in areas comparable to user acquisition, game design, cohort evaluation, development, and so on. We are supported by over 20 former founders. That’s what really sets us apart,” he said.
Over the past six months, the fund has already invested in five corporations: two in Turkey, two in Europe and one in the US, and plans to leverage its network of experienced industry advisors.
For this purpose, Latona’s LPs include, amongst others: Mehmet Ecevit, co-founder of Gram Games; Mert Gür, founding father of Loop Games; Mert Can Kurum, founding father of Ruby Games; Fırat İleri, Managing Partner of Hummingbird Ventures; Nevzat Aydın, founding father of Yemeksepeti and Eric Kress, founding father of Gossamer.
Technology
Telegram is reportedly being “flooded” with illegal and extremist activity
![Telegram reportedly ‘inundated’ with illegal and extremist activity](https://360wisemedia.com/wp-content/uploads/2024/09/Telegram-is-reportedly-being-flooded-with-illegal-and-extremist-activity.png)
AND New York Times Analysis More than 3.2 million Telegram messages from 16,000 channels show that the messaging platform has been “flooded” with illegal and extremist activity.
More specifically, the Times found that there have been 1,500 channels run by white supremacists, two dozen channels selling guns and at the very least 22 channels promoting the sale of MDMA, cocaine, heroin and other drugs.
The company’s founder and CEO, Pavel Durov, was arrested in France last month. Authorities accused Durov of engaging in illegal activity on the platform on account of Telegram’s lack of content moderation.
The platform subsequently updated its website to permit reporting of abuse, and Durov posted on his Telegram channel arguing that “using pre-smartphone era laws to accuse a CEO of crimes committed by third parties on the platform he manages is a flawed approach.”
Technology
For security reasons, we have to stop answering calls
![For security, we have to stop picking up the phone](https://360wisemedia.com/wp-content/uploads/2024/09/For-security-reasons-we-have-to-stop-answering-calls.png)
How do you understand the person on the opposite end of the phone call is admittedly who they are saying they’re?
Earlier in July, the Ferrari executive was inundated with a barrage of WhatsApp messages that appeared to be from his boss, the carmaker’s CEO, Benedetto Vigna. However, the Ferrari executive didn’t recognize the number and couldn’t ensure whether it was really his boss.
Suspicious of the avalanche of messages from an unknown number, the Ferrari executive still took a call from someone claiming to be Vigna. Despite the proven fact that the alleged CEO had Vigna’s southern Italian accent, the manager still felt something was flawed, so he asked the caller something only Vigna would know, something the 2 had discussed in person days earlier.
“I’m sorry, Benedetto, but I need to identify you,” the director said. Then the decision abruptly ended, and managed to avoid a potentially colossal fraudas Bloomberg reported earlier this yr.
If you think that the Ferrari CEO is a rare edge case for scammers, reconsider. For so long as there have been telephones, there have been people trying to trick someone into considering they’re another person. Now, as with the Ferrari attack, voice AI tools are enabling scammers to clone someone’s voice and trick victims into considering they’re talking to another person.
All of those attacks involve the phone, or reasonably, receiving a phone call. Once the decision is answered, scammers and swindlers can use tactics designed to pressure you into acting quickly and rashly in a high-stress situation.
You’ve probably heard of a few of these scams before.
Listen, police (or feds) they will not call you to make a grievance that “a warrant has been issued for your arrest” or demand payment to have the warrant canceled. If a warrant has been issued on your arrest, the police won’t leave you a threatening voicemail; they’ll come to your house.
It’s unlikely that your health care provider will call you to demand payment over the phone without first sending you a letter or paper bill. The FBI says health care fraud it will probably affect anyone and it ranges from scammers posing as healthcare staff to false claims that you simply owe an impressive amount on a non-existent account.
And yes, you ought to be wary if someone on the opposite end of a phone call claims to be out of your bank, employer or online technology company, calling you to “verify your personal information” or asking you for a security code sent to your phone.
The alternative is to stop answering the phone. Wait, discover, after which respond.
Some scams are more sophisticated than others, including spoofing phone numbers that appear to be real on caller ID and using AI tools to manipulate an individual’s voice; this is typically referred to as a “deepfake.” Often, the scammer will try to elicit a response or response by posing as an in depth member of the family in need. Even for those who think you understand the person calling you but can’t be completely sure, there could also be a superb reason for it. Trust your instincts, be vigilant.
Take the Ferrari near-crash. During the conversation, the Ferrari executive asked the alleged CEO a matter that only the actual boss would know, the title of a book they’d discussed a number of days earlier. On a smaller scale, some friends and families have agreed on protected words or phrases they’ll use in case they need to prove it was really them. (Taking it a step further, using an alternate phrase only when the victim is speaking under duress will help alert others to the damaging situation.)
If someone calls you out of the blue to ask on your information, how do you understand the person calling you is definitely legitimate? You can only depend on the caller’s phone number, and you could not recognize the numbers.
If your bank says it is looking you, call the number in your bank card to check.
If an organization or organization you recognize calls you and asks for information that makes you suspicious, hang up, go to the organization’s website or official app, and call them back directly. Don’t just depend on looking for a phone number on Google, as scammers can trick search engines like google and yahoo to display fake customer support phone numbers utilized by scammers.
If you receive a call saying that somebody has logged into one in all your online accounts, go to your online account website or app and check it yourself before taking further motion. Most corporations, akin to Google or Facebook, don’t call you, but depend on their official customer support portals.
Be like that Ferrari executive. Take a moment to breathe and think, and take control of the situation. And the following time your phone notifies you of an incoming call, perhaps just let it go to voicemail.
Technology
Byju’s second auditor to leave next year amid bankruptcy proceedings
![Second Byju’s auditor exits in a year amid bankruptcy proceedings](https://360wisemedia.com/wp-content/uploads/2024/09/Byjus-second-auditor-to-leave-next-year-amid-bankruptcy-proceedings.jpg)
BDO, the auditor of Indian edtech startup Byju’s, has resigned with immediate effect, the second departure of an auditor from the struggling company in a couple of year, further raising concerns about its financial health and governance.
In a devastating resignation letter, MSKA, a subsidiary of BDO, highlighted various issues with Byju’s, including significant delays in financial reporting, inadequate management support and concerns over the corporate’s ability to get better significant dues from the Dubai-based entity.
The auditor’s decision to withdraw its investment comes at a time when Byju’s, once India’s most beneficial startup at $22 billion, has been grappling with a series of crises, including the Supreme Court’s recent decision to reopen bankruptcy proceedings against the startup.
Deloitte, Byju’s previous auditor, and key members of the startup’s board resigned last year, citing governance issues at the corporate.
MSKA, appointed in August 2023 for a five-year term, stated in her resignation letter: “The Company’s management did not provide us with sufficient support in providing the accounting records, information and explanations we requested, as well as sufficient and appropriate audit evidence that would enable us to complete the audit for the 2022-2023 financial year.”
A Byju’s spokesperson said in a press release that BDO’s demands on the corporate involved “crossing ethical and legal boundaries”.
“The real reason behind BDO’s resignation is BYJU’S’ adamant refusal to backdate its reports, while BDO went to the extent of recommending a firm that could facilitate such illegal activity. There are multiple call recordings where BDO officials clearly suggest backdating these documents, which BYJU’S refused to do. BYJU’S strongly believes that this is the primary reason for their resignation,” the Byju’S spokesperson added.
MSKA disclosed that it had filed a Form ADT 4, indicating potential fraud or criminality at the corporate.
The resignation letter also highlighted concerns over ongoing legal proceedings against Byju’s and its management, including initiation of liquidation proceedings by lenders and accusations of harassment and mismanagement by minority shareholders.
MSKA noted instances where Byju’s failed to provide the audit team with vital information, similar to notifications of general shareholders’ meetings and bankruptcy proceedings.
The auditor’s departure adds to the mounting challenges facing Byju’s, whose valuation has plummeted amid missed financial deadlines, revenue shortfalls and conflicts with investors. Major backers including Prosus and Peak XV had earlier alleged governance issues and sought legal motion to oust founder Raveendran.
The edtech company’s troubles have intensified in recent months, with India’s Supreme Court recently staying a tribunal ruling that had halted bankruptcy proceedings against the corporate. U.S. creditors are in search of to get better $1 billion from Byju’s, adding to the pressure on the once-celebrated startup.
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