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Technology

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Read more: Earth-like planets 'may be common' - raising hopes in search for alien life
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Read more: Google Stadia gaming service gets a launch date and wireless controller details
Write comment (93 Comments)Swarm Technologies aims to connect smart devices around the world with a low-bandwidth but ever-present network provided by satellites — and it just got approval from the FCC to do so. Apparently the agency is no longer worried that Swarmsandwich-sized satellites are too small to be tracked.
The companySpaceBEE satellites are tiny things that will provide a connection to devices that might otherwise be a pain to get online. Think soil monitors in the middle of corn fields, or buoys in the middle of the ocean. Their signals don&t need low latency or high bandwidth — so the requirements for a satellite that serves them are much lower than for consumer broadband.
Consequently Swarmsatellites are small — so small in fact that the FCC was worried that they would be difficult to track and might be a danger to other satellites. Part of the companyresponsibility in its application was to show that isn&t the case.
The FCC approval is just one step in the long process of getting approved to go to space for commercial operations, but ita big one. In addition to granting Swarm permission to send up its planned 150 satellites (and up to 600 if it decides to spread out a little), the FCC assigned Swarm the wireless spectrum it needs to operate. No use being in space if you&re forbidden from transmitting on the frequencies you need, right?
Longtime satellite communications provider ORBCOMM had objected that Swarm would be taking over some parts of the spectrum it has been assigned — but the FCC found that wasn&t actually the case and in fact the company was in a way making a sort of power play that would have extended its control over those frequencies. So their concerns were dismissed.
SpaceX also filed a comment suggesting that Swarm had not adequately considered its orbital debris footprint, neglecting in particular to include its satellites& antennas in various calculations. It also said the satellites might be a risk to the International Space Station. But documents filed by Swarm addressing these questions seem to have satisfied the FCC completely — &We find that Swarm has taken the appropriate steps to address SpaceXconcerns,& and it granted the application with the condition that the company abide by any upcoming orbital debris rules.
Swarm has clearly moved well past the black mark on its FCC record when it launched test satellites without the proper approvals. The red tape involved in space operations is voluminous and itnot uncommon to fall afoul of it — especially when your competitors, as evidenced by the above, are making more of it for you.
Now that it has its paperwork in order, Swarm plans to get its entire constellation in orbit by the end of the year.
&The FCC grant of Swarmspectrum and launch approvals is a big milestone for the company. Swarm is now poised to be first to market for an entire global satellite data communications constellation before the end of 2020,& said CEO and co-founder Sara Spangelo in a statement to TechCrunch.
&This is an important moment for the satellite industry, for US innovation in space, and for the large number of IoT customers world-wide that Swarm is excited to support with 2-way data services,& added CTO and co-founder Ben Longmire.
Both Sara and Ben were at TechCrunch Disrupt earlier this month, and the former sat on a panel with Bessemer Venture Partners& Tess Hatch and OneWeb CEO Adrian Steckel (with myself as moderator). We chatted about a variety of topics relating to the new space economy — if you&re thinking of getting up there yourself, you might be interested to watch it below.
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Read more: Swarm gets green light from FCC for its 150-satellite constellation
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Read more: O2 finally launches 5G network in the UK - but it's only available in six locations
Write comment (91 Comments)Airbnb may be another overvalued &unicorn,& but itno WeWork.
The Information this morning reported new Airbnb financials — indicating a massive increase in operating losses — that immediately call Airbnbfuture into question. Precisely, Airbnb lost $306 million on operations on $839 million in revenue, namely as a result of marketing spend, in the first quarter of 2019. In total, Airbnb invested $367 million in sales and marketing, representing a 58% increase year-over-year, in Q1. The company is gearing up for a major liquidity event next year and is making a concerted effort to rake in new customers, as any soon-to-be-public business would.
Given WeWorksudden demise, coupled with Uber and Lyftlukewarm performances on the stock markets, many have wondered how Wall Street will respond to Airbnbeventual IPO prospectus. Will money managers have an appetite for another over-valued Silicon Valley darling? Or will the market compete like mad for shares in the massive home-sharing marketplace?
But Airbnb, again, is no WeWork, and I wager Wall Street will have a much friendlier approach to its offering. For one, Airbnbco-founder and chief executive officer Brian Chesky isn&t dropping $60 million on private jets — I don&t think. CEO behaviors aside, Airbnb has more capital in the bank than it has raised in its entire 11-year history, which is a whole lot of money. This is all according to a source who is familiar with Airbnbfinancials and shared this detail with TechCrunch following The InformationThursday morning report. As for Airbnb, the company told TechCrunch, &we can&t comment on the figures, but 2019 is a big investment year in support of our hosts and guests.&

AirbnbCEO Brian Chesky speaks at TechCrunch Disrupt SF 2014
Airbnb has attracted more than $3.5 billion in equity funding at a $31 billion valuation and has even more locked away in its bank account. Additionally, Airbnb has an untouched $1 billion credit line, the source said. Presumably, the referenced credit line is the 2016 $1 billion debt financing from JPMorgan, CitiGroup, Morgan Stanley and others.
Moreover, Airbnb has been &cumulatively& free cash flow positive for some time, meaning that itseen more money coming in than going out during recent quarters, according to our source. It has been reported that Airbnb surpassed $1 billion in revenue in the second quarter of 2019 and in the third quarter of 2018, but we&re guessing the business did not top $1 billion in Q4 of 2018 or Q1 of 2019 because it if had, that information would probably have been &leaked.&
Finally, Airbnb has been profitable on an EBITDA (earnings before interest, taxes, depreciation and amortization) basis for two consecutive years, the company announced in January. Gross bookings, meanwhile, are growing, as is Airbnbbusiness offering and its experiences product.
Why does any of this matter, you ask?
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Read more: Airbnb’s WeWork problem
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Read more: NASA says five asteroids will skim past Earth tomorrow - with one as big as Big Ben
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