This week we celebrate the 10th anniversary of the hashtag. It’s been a decade since Chris Messina, a San Francisco-based product designer, contacted Twitter suggesting the pound sign to aggregate content that was related to a specific event or topic. Today, an average of 125 million hashtags — as those pound signs came to be known — are shared every day globally on Twitter. Oh, and on Monday, Americans experienced a solar eclipse. It was pretty fantastic.
Here’s our weekly pick of news items impacting the innovation ecosystem:
Apple Building in the Cornfield
On Thursday, Tim Cook visited Des Moines, IA to announce Apple’s plan to build a $1.375 billion data center in the state’s capitol. Apple is the fourth tech giant to establish roots in Iowa, following Google in Council Bluffs, Facebook in Altoona and Microsoft in West Des Moines — all cities within a two hour radius of each other. The state attracts massive data centers because of its available crop land, access to high-speed fiber optics and low risk for natural disasters.
The takeaway: With increased connectivity in the middle part of the country, building data centers on expensive real estate and in areas vulnerable to natural disasters just doesn’t make sense.
Cyber Funding Still Strong
Earlier this week, CB Insights reported that deals and dollars invested in cybersecurity companies is on track to break records in 2017. According to the report, in Q1’17 there were 146 cybersecurity deals completed, up 26% from the Q4’16. The trend extended up and to the right in Q2’17 with 145 deals and $1.6 billion invested. The data also showed that M&A activity in the sector has been strong with over 60 cybersecurity companies getting acquired.
The takeaway: We’ve worked with several firms that actively invest in cybersecurity companies at various stages of development. They all say the same thing, that we’re still in the early innings of this sector. The threat continues to evolve; the problems are far from being solved; so capital will still flow into these companies.
SineWave Ventures: Investing to Bridge Washington With Innovation
Tenor has been working with this innovative investor since early in the year. While the U.S. Government may have seen its fair share of disruption in the last 215 days, it could still use all the innovation it can get – good thing that’s where Sinewave is investing. Founding general partner, Yanev Suissa speaks with CNBC.com’s Lora Kolodny to discuss how President Trump’s impact on tech and venture capital could be positive if he delivers on the goal of simplifying how the government buys technology.
The takeaway: Suissa underscores the proof is in the execution and to execute and update the country’s tech infrastructure, Trump needs to hire more qualified people, and fast.
Enjoy the weekend!