News Panel with Ryan Block and Peter Horan - TWiST #250

TL;DR

Startups news and updates, including discussions on Twitter's Innovators Patent Agreement, Tim Berners-Lee's call for personal data control, Evernote's funding round and valuation, Facebook's IPO, and Square's planned valuation and growth.

Transcript

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Key Insights

• 🎮 Twitter's Innovators Patent Agreement disrupts traditional patent agreements and gives engineers more control over their inventions.
• 🎮 The call for personal data control by Tim Berners-Lee aligns with concerns over privacy and the need for individuals to have control over their own data.
• ✊ Evernote's rapid increase in valuation showcases the power of their platform and users' adoption of their services.
• 👤 Facebook's IPO is highly anticipated, with the company aiming to monetize its large user base and address challenges in mobile user revenue.

Questions & Answers

Q: How does Twitter's Innovators Patent Agreement differ from typical patent agreements?

The Innovators Patent Agreement allows engineers and designers to have more control over their inventions, limiting patent use to defensive purposes unless expressly permitted for use in offensive litigation.

Q: What is Tim Berners-Lee advocating for regarding personal data control?

Tim Berners-Lee wants individuals to demand companies like Google and Facebook to turn over all personal data, providing users with more control over their data and enabling more personalized computer services.

Q: How has Evernote's valuation and funding changed over the past year?

Evernote's valuation has increased from $1 billion to a potential $4 billion valuation in just 10 months, as it aims to expand its presence in Asian markets.

Q: What is the estimated valuation for Facebook's IPO and its plans for monetizing mobile users?

Facebook is expected to be valued at around $100 billion for its IPO, with a focus on monetizing its 425 million active mobile users, who currently generate no revenue for the company.

Q: How does Square's mobile payment system differ from traditional payment methods?

Square's mobile payment system allows small businesses to accept payments through cell phones, including iPad software for cash register functionality, eliminating the need for traditional cash registers and offering more flexibility for businesses.

Summary & Key Takeaways

• Twitter introduces an Innovators Patent Agreement, aiming to put patent control in the hands of engineers and designers, providing more control over how their inventions are used.

• Tim Berners-Lee advocates for individuals to demand companies like Google and Facebook to turn over personal data to enable more personalized computer services and protect the openness of the internet.

• Evernote is reportedly raising a new round of funding at a valuation of up to $4 billion, quadrupling its worth in just 10 months, and plans to expand its presence in Asian markets.

• Facebook is eyeing May 17th for its IPO, with an expected valuation of $100 billion, and aims to tackle the challenge of monetizing its 425 million active mobile users.

• Square seeks to raise funding at a $4 billion valuation, with its mobile payment system gaining popularity among small businesses, and may expand further beyond its magnetic swipe readers.