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The 'Godfather of Silicon Valley's' investment firm, which helped launch Facebook, Twitter, and Airbnb, says it won't raise a new fund

Ron Conway, considered the "Godfather of Silicon Valley," said his venture capital firm, SV Angel, will not be raising a new fund. In a Medium post co-authored by the firm's general partners, Conway said it will "scale back the existing SV Angel team" and shift focus to angel investing. He expects to cut checks between $25,000 and $100,000 per company. Founded in 2009, SV Angel made early bets on Facebook, Twitter, and Airbnb.

 

Ron Conway, one of the tech industry's most prominent and powerful startup investors, who had early stakes in Facebook, Twitter, and Airbnb, said in a Medium post on Thursday that his early-stage investment firm, SV Angel, will not be raising a new fund.


At Facebook's annual meeting, Mark Zuckerberg stuck to his talking points — and ignored some of shareholders' biggest concerns (FB)

At Facebook's annual meeting, company officials faced criticism from investors and a slew of shareholder proposals urging reforms. Addressing concerns about the abuse of Facebook's service, CEO Mark Zuckerberg and his team repeated talking points they've previously made to the press or in Congress. Zuckerberg and company ignored pointed concerns about the company's governance, a longstanding thorn in the side of many investors.

A month after Facebook CEO Mark Zuckerberg faced critical questions from members of Congress, he and his team faced another skeptical audience on Thursday, this time in the form of the company's shareholders at its annual meeting.


A Googler who became an Oxford philosopher has a dark message about constant tech distraction

James Williams, a former Googler who quit to become a philosopher, has written a new book about the way tech companies exploit our attention. He argued that tech distraction is much bigger than just looking at your phone constantly — cumulatively it stops people from achieving bigger goals and leads to crises like fake news. He said companies like Facebook and Google might put out friendly messages about how they want to help people connect with the world and each other, but their actual metrics for success are different. Williams said the tech industry should re-evaluate advertising as a business model.

If you have a passing interest in technology, you might be familiar with terms such as "the attention economy" or "the distraction economy."

This is the idea that human attention is like any other commodity: It's scarce, and people only have so much of it to divide between their various tasks and interests.


CRYPTO INSIDER: A teenage prodigy told us how to fix bitcoin's energy problem

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The Netflix of China has become the hottest stock for millennials

Millennial investors are loving shares of iQiyi this past week. iQiyi, partly owned by Baidu, moved up 16 places in the top 100 of most owned stocks on the free stock-trading app Robinhood, which targets millennial investors.  Users added more positions to iQiyi than they did to any other top 100 Robinhood stock.  Watch IQ trade in real time here.

The Netflix of China is is gaining some serious traction with millennial investors. 

They are buying up 


Waymo just revealed plans to add 62,000 self-driving minivans to its fleet (FCAU, GOOG)

Fiat Chrysler Automobiles will supply Waymo with 62,000 Chrysler Pacifica minivans for Waymo's autonomous fleet, the two companies announced Thursday. Waymo could also provide FCA with a licensed self-driving system that could be installed in a future retail vehicle. FCA and Waymo made the announcement on the same day General Motors revealed a $3.35 billion investment in the carmaker's Cruise autonomous division from Japan's SoftBank and GM itself.

On the same day


5G technology will revive a global smartphone market that's had near standstill growth for two years

The smartphone market's growth has been at a near standstill for two years and is expected to experience more of the same in 2018; however, it could be revived by the arrival of 5G in late 2019.

As this chart from Statista shows, the largest spike the global market experienced in the last decade was in 2010, when the number of smartphone shipments went up 75% from 173.5 million units in 2009. Since then, the smartphone market has grown by progressively smaller increments, until 2016 when it only grew by 2.5%.

Last year, the smartphone market actually shrank (-0.1%) for the first time, and estimates from International Data Corporation (IDC) show the market research firm expects more of the same this year.


Pig's blood, a staged photo and a trip to the morgue: Russian journalist describes faking his own death

Arkady Babchenko, the Russian journalist who staged his own death with the help of Ukraine, described in a televised interview on Thursday how the ruse went down. He said that pig's blood and a make-up artist were used to stage a dead photo of him, and that he was afterward taken in an ambulance to the morgue. Babchenko also responded to critics who have said that the ruse may ruin the credibility of journalists and the West, and raises a number of ethical questions. 

The Russian journalist who staged his own death with the help of Ukraine's Security Services (SBU) described in a televised interview on Thursday how the ruse went down. 


This map shows how much the iPhone 8 costs around the world

In many ways, the iPhone 8 represents the best parts of Apple's past smartphone designs and its future ones.

From the outside, the iPhone 8 is the natural evolution of Apple's iPhone 6, iPhone 6S, and iPhone 7 designs. On the inside, however, the iPhone 8 has the same brains and power as the futuristic iPhone X, which costs $300 more to start. It even has better battery life than the iPhone X.

The iPhone 8 checks several boxes for prospective iPhone buyers, but it doesn't come cheap. In the US, before taxes and other fees, the iPhone 8 costs $699 for 64 GB of storage, or $849 for 256 GB. (The larger iPhone 8 Plus starts at $799 and $949 for the same storage options.) It's only more expensive in other countries.


Melinda Gates has sharp words for the VC industry: Enough with your love for 'the white guy in a hoodie'

Melinda Gates has a plan to fix the endless not-enough-women-in-tech problem. She's become a power-player investor but not in the classic style. She's using her money to put pressure on the whole VC industry in two significant ways. And she has some harsh criticisms for status-quo VCs, kicking at their love for "white guys in hoodies"and treatment of women, from a lack of partnerships to sexual harassment. 

Melinda Gates has been putting her money where her mouth is when it comes to championing women in tech.

She's become a power-player investor through her somewhat secretive investment firm Pivotal Ventures. But she's not just investing directly into startups, like a classic venture investor. She's also become a limited partner (LP), investing in other VC funds with a strategy that has far bigger implications,