Connect with us

Technology

NAACP launches $200 million fund of funds

Published

on

LOS ANGELES, CALIFORNIA - MARCH 16: Derrick Johnson, President & CEO of NAACP, poses in the press room during the 55th NAACP Image Awards at Shrine Auditorium and Expo Hall on March 16, 2024 in Los Angeles, California. (Photo by Robin L Marshall/Getty Images for BET)

NAACP announced today NAACP Capital, a $200 million fund supporting fund managers focused on issues impacting people of color.

The fund was established in partnership with Kapor Capital and Kapor Center, in addition to nine other enterprise fund managers. Last 12 months, Crunchbase found that Black founders raised lower than 1% of all enterprise capital funding, and the group raised 0.3% in the primary half of this 12 months.

A fund of funds is when an investor invests in multiple enterprise capital funds, fairly than making individual investments in funds and even startups. This is a well-liked way for an influential investor to get probably the most out of their money. Kapor is a VC firm that has at all times been focused on investing in racial justice. But other big names have taken an identical approach. For example, Melinda Gates’ Pivotal Ventures invests in women-led funds in addition to directly in startups.

This article was originally published on : techcrunch.com
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Thanks to new federal regulations, broken McDonald’s ice cream machines could be repaired faster

Published

on

By

McDonald’s ice cream machines have a nasty status for breaking down when you’re on the restaurant, largely due to strict copyright laws that only allow specially licensed technicians to legally repair them. Manufacturers must license each technician and place locks on McFlurry machines to prevent others from repairing them.

However, 404 Media noted a new federal ruling Friday stating that technicians can legally bypass locks installed by machine maker McFlurry. This means more technicians will be able to repair McDonald’s ice cream machines, which is widely seen as a victory for the correct to repair community.

iFixit, which publishes manuals for the technical repair community, posted: McFlurry machines crash last yr by showing how to bypass these roadblocks using an easy device that McDonald’s had previously asked franchise owners not to use. Now franchise owners can use them freely.

This article was originally published on : techcrunch.com
Continue Reading

Technology

‘Yikes’: While gaming, Musk accidentally broadcasts ‘scary’ moment of nearly aborted spacecraft landing

Published

on

By

Elon Musk occasionally posts clips of his video games on his social media platform X, but the newest clip includes background audio of a SpaceX engineer telling Musk how the newest Starship flight test was “one second” from aborting. Clippublished on Friday, was caught by Reuters’ Joey Roulette on the X shownevertheless it is unclear whether the conversation between Musk and Starship engineers took place on the identical day.

“I want to be honest about the terrible things that happened,” an anonymous engineer said, apparently while Musk was playing Diablo IV. He went on to clarify that the misconfigured component didn’t have adequate “acceleration time to increase the spin pressure” within the amplifier.

“We were a second away from tripping and ordering the rocket to stop working and try to hit the ground next to the tower,” says the engineer.

“Wow,” Musk says in response. “Yes.”

The same engineer added that just before starting the engine in the course of the booster’s descent to Earth, the duvet on the booster skin broke off, apparently in an area that had been spot welded. “We wouldn’t have predicted the exact location, but the detached cowling was located just above several single-point emergency valves that must trip in the event of a landing burn. Fortunately, none of them or the harness were damaged, but we did rip that windshield off some really critical equipment as the landing burn was starting. We have a plan to deal with this.”

Musk was briefed on Starship’s fifth integrated test flight, called IFT-5, which took place on October 13. SpaceX has set itself essentially the most ambitious mission goals for this test, including: returning the super-heavy booster to the launch site and catching it using a pair of large baton-shaped arms extending from the launch tower.

The company managed to do that and consequently, it made history. The full context of the conversation is unclear since the clip sent to X is barely about three minutes long, nevertheless it shows that even a seemingly flawless rocket launch (and on this case, the landing of booster rockets) can come perilously near disaster. And that after each test, SpaceX receives a “final payload,” because the engineer put it, of post-flight data that forms the idea for future tests.

“We’re trying to strike a reasonable balance between speed and risk with the booster” before the following flight attempt, the engineer said. Engineers note that this shall be Starship’s first test flight, a schedule for which is just not set by the FAA. While SpaceX has typically been ahead of the regulator in terms of launch readiness in comparison with the FAA’s launch license approval schedule, the FAA actually gave approval to IFT-5 and IFT-6 at the identical time.

This article was originally published on : techcrunch.com
Continue Reading

Technology

Timbaland named strategic advisor to AI music company Suno

Published

on

By


Timbaland has increased its support for the emerging AI music movement by joining Suno, a number one AI music creation tool, as a brand new strategic advisor.

on Tuesday, sunny announced that the four-time Grammy winner has develop into an official partner after months of being one among the platform’s hottest users. In his latest role, Timbaland will lead creative strategy and encourage a brand new generation of artists to explore latest ways of creating music.

“When I heard what Suno was doing, I was immediately interested” – Timbaland he said in a press release. “After I saw the potential, I knew I had to be a component of it.

“By joining forces, we have a unique opportunity to make artificial intelligence work for the artist community, not the other way around,” he added. “We are seizing this opportunity and intend to open the floodgates for generations of artists to flourish on this new frontier. I am excited and grateful to Suno for this opportunity.”

The day after the announcement, Timbaland and Suno began their collaboration, inviting the Suno community to take part in a remix contest for Timbaland’s latest single “Love Again”. The remix competition will have in mind Timbaland’s opinions and rankings, and he’ll offer prizes value over $100,000 for the most effective remixes. The two best remixes may also have a probability to be released by Timbaland on digital streaming platforms.

As a member of Suno’s executive team, Timbaland will play a key role in leading the company’s day-to-day AI product development and strategic creative direction to make sure the platform’s generative music tools meet the needs of each established and emerging artists. This partnership puts Timbaland on the forefront of what could possibly be a brand new movement within the music industry.

“It’s an honor to work with a legend like Timbaland. At Suno, we’re truly excited about discovering new ways for fans to interact with their favorite artists,” said Mikey Shulman, CEO of Suno. “With Timbaland’s guidance, we help musicians create music at the pace that suits their ideas – whether they’re just starting out or already selling out stadiums. We couldn’t be more excited about what lies ahead!”


This article was originally published on : www.blackenterprise.com
Continue Reading
Advertisement

OUR NEWSLETTER

Subscribe Us To Receive Our Latest News Directly In Your Inbox!

We don’t spam! Read our privacy policy for more info.

Trending