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Jul. 08, 2021 07:35PM EST
Latin America and the Caribbean wait for COVID-19 vaccines
Data: Our World In Data; Map: Axios Visuals
Latin America and the Caribbeanhave the highest weekly death rate per capita of any region in the world, and it could climb, with vaccinations difficult to come by and hospitals still short on staff and equipment like ventilators and oxygen tanks.
Why it matters: Fewer than 10% of the people of Latin America and the Caribbean have been fully vaccinated against COVID-19 since immunization campaigns started in December, mostly due to the low availability of doses.
- The lags mean little protection against an oncoming third wave from existing variants and the newly detected, highly contagious delta variant. Countries like Brazil, Peru and Mexico have been pandemic hot spots for almost a year.
- Latin America and the Caribbean make up the most urbanized region in the world, with more than 80% of its residents packed into cities. Housing is cramped and public transportation crowded, conditions that allow COVID-19 to spread quickly.
- Highly infectious variants like lambda, which originated in the Andes, and gamma, which began spreading in Brazil, have been tearing through the area.
- Several countries have admitted there's an undercount in official infection rates and death tolls, partly due to a lack of testing.
What they’re saying: “The region is an epicenter for COVID-19 suffering. It should be an epicenter for vaccination, too,” says Carissa Etienne, head of the Pan American Health Organization.
In Colombia, a vaccination brigade wades through jungle areas to reach rural inhabitants on July 3. Photo: Guillermo Legaria/Getty Images
Details: Latin America and the Caribbean mostly depend on vaccine donations and purchasing the more affordable and easier-to-store Chinese, Russian and AstraZeneca vaccines.
- Inadequate supplies and delivery delays are common, and initial studies suggest vaccines like Sinovac are slightly less effective against variants like lambda.
- Highly efficient mRNA vaccines are costly to store and transport, leaving them mostly out of reach, while Pfizer’s response to some Latin American requests to buy the company’s vaccine was characterized as “bullying."
- The U.S. has begun sharing some of those vaccines through COVAX, which could be key for Latin America’s immunization.
- Most governments are trying to control the virus by advocating social distancing, the use of hand sanitizer and the wearing of masks in public.
The intrigue: Vaccination campaigns in Chile and Uruguay have managed to get at least a first dose to more than 50% of their populations, making their programs some of the most successful in the world, yet contagion per capita in those countries remains high.
- Experts point to a false sense of security, with people using masks less and holding clandestine massive parties.
State of play: Many wealthier Latin Americans have skirted the lack of vaccines in their countries by traveling to the U.S. for immunization, so-called vaccine tourism.
- The PAHO states this “disparity of access” will worsen health inequities while the virus continues circulating and beyond.
The latest: Mexico, Argentina, Chile, Honduras, Guatemala, Brazil and Uruguay have now reported cases of black fungus or mucormycosis, an infection that can make COVID-19 cases deadlier.
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May. 20, 2021 05:55PM EST
Snap says it now has 500 million monthly active users
Snapchat on Thursday debuted a slew of new products and user metrics for things like games and augmented reality lenses that have been built using Snapchat's developer tools.
Why it matters: It's an important milestone in Snapchat's transformation from a social network to a camera company that caters to developers.
By the numbers: Speaking to an audience of hundreds of thousands of developers and partners virtually at Snap's third annual Snap Partner Summit, Snap provided user metrics for several of its developer products, showing growth in areas like augmented reality, gaming and short-form video creation.
- 250,000 developers are registered to use Snap's developer tools, "Snap Kit," which helps developers build and distribute augmented reality lenses.
- 200 million people use Bitmoji stickers every day. (Bitmojis are personalized cartoon stickers made by a company Snap bought years ago.)
- 1 billion Bitmojisare sent per day. More than 34 million Bitmoji stickers are available to developers in a new "Bitmoji Developer Kit," that allows developers to insert Bitmoji stickers into their keyboards for their own apps.
- Nearly 30 million Snapchat users play games on the app per month. Snapchat's first game ever "Aqua park," has reached 45 million players to-date.
- More than 250 million people uses Snapchat's "Snap Map" monthly. The company now has more than 30 million businesses on the map. Moving forward, it plans integrate more business, stores and universities onto the map.
- More than 135 million people use Snapchat's TikTok rival feature "Spotlight." Over 5,400 creators have collectively earned more than $130 million dollars from payouts Snapchat has awarded to viral video makers. Snapchat will add "tipping" for creators later this year.
- Nearly 2 million augmented reality lenses have been created by Snapchat users using Snap's developer tools. Those lenses have been viewed by Snapchat users more than 2 trillion times.
The big picture: Snapchat's push to become a developer platform began three years ago, when the company first launched its developer tool kit for engineers around the world.
- The move has fundamentally changed Snapchat's business, allowing for much deeper engagement with its core products, like its map, video shows and messaging features, as well as new opportunities for revenue.
- Today, CEO Evan Spiegel says there are over 500 million monthly active users on Snapchat. About 40% of Snap's users now come from areas outside of North America and Europe, a testament to the company's ability to successfully redesign its app for Android, a feat given early failures to woo users.
What to watch: Moving forward, Snapchat says it wants to use the tools it's designed to help its users get creative to address societal issues that align with its mission.
- For example, the company debuted its efforts to make its camera more inclusive to capture a wider range of different skin tones.
- It also introduced a new partnership with re:wild and the National Parks Service to use augmented reality visualizations to help restoration efforts in areas devastated wildfires in Southern California.
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Mar. 03, 2021 04:13PM EST
Venture capital firm Indie.vc is shutting down
Indie.vc, an effort launched six years ago to invest small amounts in bootstrapped businesses, announced on Tuesday that it’s winding down.
Why it matters: Venture capital, despite being the money of innovation, is rarely innovative itself. Indie.vc was an effort to break out of the tedium, so its failure is de facto disappointing.
History: Indie.vc was launched in 2015 as a pilot program by O'Reilly AlphaTech Ventures, which was a typical early-stage VC firm. Its focus was sustainable — and often profitable — businesses that could use a capital boost but weren’t looking to hyperscale. It also allowed founders to buy back their stakes via “redemptions.”
- The idea was to back the next GitHub, which became profitable early on and didn’t take any VC money for its first four years.
- "There needs to be something that sits in between banks and venture capital blitz," AOTV managing director Bryce Roberts tells Axios’ Kia Kokalitcheva.
- It initially began operating out of OATV's $85 million third fund, and has invested in nearly 40 companies.
What happened: Limited partners were unimpressed, particularly as many of their other VC fund bets kept minting overnight unicorns. They basically wanted OATV to maintain its status quo.
- When OATV announced its fourth fund would focus on the Indie.vc model, it lost around 80% of its investor base — which came in at just $25 million versus the $85 million secured for Fund III.
- One issue was that Indie.vc portfolio companies didn't raise follow-on rounds as quickly as did traditional VC-backed startups, which resulted in fewer mark-ups and slower fund IRR growth. Another was that the investment structured blurred the lines between equity and debt, and LPs love their buckets.
- "I really bought into the idea that we needed to be completely detached from the mainstream VC narrative instead of being more complimentary and more of an on-ramp to growth equity,” Roberts explains.
- Raising Fund V proved untenable, leading to yesterday's announcement.
The bottom line: Indie.vc deserves kudos for the attempt to do something different, despite how it turned out.
- Traditional venture capital works great for certain sorts of startups, but not for all. Hopefully Indie.vc's death won't put a chill on other efforts to create alternative structures.
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Dec. 10, 2024 10:12AM EST

