• Martins Lasmanis, the founder of Supliful, struggles with balancing startup growth and family time.
• Supliful quickly gained traction, and Lasmanis began working 16-hour days with three young kids.
• He now schedules family time and delegates work to manage 'dad guilt' and improve work-life balance.

My youngest son turned 3 this year — the same age as my startup, Supliful. As I watched my toddler playing on his birthday, I felt a strong sense of guilt creep up inside me. He wasn't a baby anymore, and I realized I'd missed out on him growing up.

"They grow up so fast!" is what all parents say. That day, this cliché suddenly felt terrifyingly real. Even worse — it felt as if, over the past three years, I'd spent more time growing my startup than paying attention to my children growing up.

That feeling was torturous

I've always wanted two things in life: a big family and my own business. Family is where I find peace and joy, and I find self-fulfillment in business. I've never been able to sit still and must be in constant motion.

In 2021, when I became a father of three and founder of a newly launched startup, I felt I was on the right path. My life goals were being met. I was nailing it.

While I didn't expect raising three kids and building a company from scratch would be easy, I didn't worry much either. I had already been there — a few years prior, I was running a successful online store while raising two preschoolers. I thought I had the experience necessary to handle the new responsibilities.

I was wrong

I soon realized my new venture had much more potential and was more complex and demanding than anything I had built before.

When I attracted serious interest from VC investors, my company was still in its ideation phase. We onboarded hundreds of users just three weeks after making our product public. By our second year in business, we were already making over $1M in revenue.

Success came with challenges and new responsibilities. I had to quickly grow our team, onboard new partners, and open a new fulfillment center on the other side of the world to ensure quality service to our clients — all while ensuring we didn't run out of money.

I spent my days on back-to-back calls with investors, business partners, and new hires. In the evenings, I sometimes had to help my colleagues pack and send out orders. I'd regularly travel between our office in Europe and the fulfillment center in Denver, feeling guilty for leaving my family behind every time.

My wife was extremely understanding

Throughout our 13 years together, my wife has always supported me. Although she wasn't happy about me staying late in the office or leaving for another business trip, she always encouraged me to pursue my career goals.

Without realizing it, my working days got longer. At one point, I worked 12 hours a day and sometimes as many as 16 hours.

I still tried to be as hands-on as possible with my kids. My wife and I had our own caregiving "shifts" — I covered mornings and after-work, taking the kids to and from school and day care. My wife handled the evening, taking care of dinner and putting the three to bed. We all tried to spend time together between dinner and my late work calls.

Eventually, a dreaded day came

"Daddy, you're working too much." My 7-year-old daughter caught me off guard. We had just finished our dinner one evening in September, and I prepared to disappear into my home office for another round of calls and emails. I responded "I know. I'm trying to build this business, but I should be more present with you."

I realized I was experiencing an enormous feeling of guilt — the feeling of failing as a parent because I wasn't there for my kids. While I saw my tight work schedule as a sprint that would eventually end, my kids only saw me working.

I had heard about "mom guilt," a term often used to describe the feeling women have when they believe they're not meeting their own or others' expectations in their role as parents.

I felt "dad guilt" — the dark side of entrepreneurship and many other demanding jobs requiring long hours. Every day, I feel guilty for not prioritizing my children or failing to build my startup.

I wish I had an easy fix to make this all balance out

I don't have a solution, but I have found a few things that make the weight easier to carry.

I make it a point to schedule family time on my calendar and never cancel it. I treat it as seriously as any work meeting and make a real effort to be present.

I set high standards, but I've had to remind myself that perfection isn't real. Sometimes, I take stock of the good I've done, balancing it against the areas I wish to improve. Reminding myself of these positives helps me feel more at peace with where I am.

I've delegated more work to my team, allowing me to spend more time with my kids this past month. We're moving to the US next year, so that will be another adventure.

Through it all, I'm beyond grateful for my wife. She's my best friend, and her unwavering support allows me to pursue my entrepreneurial dreams.

AI-powered search engine Perplexity has reportedly closed a $500 million funding round, valuing the startup at $9 billion. Bloomberg, citing sources familiar, reports that the round was led by Institutional Venture Partners and that it closed earlier in December. In an email to TechCrunch, a Perplexity spokesperson declined to comment. The mammoth tranche comes as […]

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Emmett Shear, the former CEO of Twitch, is launching a new AI startup, TechCrunch has learned. The startup, called Stem AI, is currently in stealth. But public documents show it was incorporated in June 2023, and filed for a trademark in August 2023. Shear is listed as CEO on an incorporation document filed with the […]

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Silicon Valley is the undisputed global tech hub. The small corner of California is the birthplace of Apple, Google, and OpenAI — companies that have, for better or worse, changed modern life.

Far away, in the southern Indian state of Karnataka, another tech hub has been finding its footing in the international market. The city of Bengaluru is the startup capital of India and shares similar DNA to California's Silicon Valley.

Bengaluru grew into an IT hub in the wake of the rapid expansion of its electronics manufacturing industry from the 1940s to the 1960s. Back in the US, Silicon Valley was home to the semiconductor industry in the 1950s and owes its name to the silicon transistors produced there in the 1960s.

By the mid-1980s, Apple, Oracle, and Microsoft had a presence in the Valley, while in Bengaluru, large companies like Infosys and Texas Instruments moved in.

Bengaluru is widely referred to as the "Silicon Valley of India," producing tech unicorns and housing offices for companies like Amazon, Google, and Dell. After taking over Twitter, Elon Musk shut the company's offices in Delhi and Mumbai but kept the Bengaluru office. Earlier this year, Virgin Atlantic launched daily direct flights from London to Bengaluru.

However, the city's status as a tech metropole is under pressure as rapid growth tests the local infrastructure. Estimates place the current population at roughly 14 million, compared to 8 million in 2010.

Heavy traffic, water shortages, and rising property prices have led to online speculation that Bengaluru may be crumbling and debates about whether another city will emerge as a new tech hub in India. During a water crisis earlier this year, some tech companies in Bengaluru had to tell employees to stay home.

Business Insider spoke to four current and former Bengaluru residents in and outside the tech industry who shared their experiences of how India's "Silicon Valley" is holding up under the pressures of rapid urbanization and whether they believe it can maintain its place as a global tech hub.

Vikram Chandrashekar

Vikram Chandrashekar, 50, was born in Bengaluru and has worked at Oracle for the past 27 years. He told BI he is happy for the job opportunities Bengaluru's status as a tech hub has brought, but is nostalgic for the city of his youth.

A lake he visited when he was younger, across from a guava and mango orchard, has now been replaced by housing.

Chandrashekar said the IT boom drew people to the city, bringing a larger airport, a more diverse culture, and better internet connectivity. He is also grateful to the startup ecosystem because he has access to new services and products faster than the rest of the country.

He said local people have benefited from job opportunities, but they still complain about the issues urbanization has caused. Chandrashekar doesn't plan to leave his hometown and thinks creating other tech hubs in India to redirect the growing population is a solution.

Read Vikram Chandrashekar's full story here.

Dhruv Suyamprakasam

Dhruv Suyamprakasam grew up joining his dad on business trips to Bengaluru and Hyderabad, another large tech hub in India. When Suyamprakasam became a founder himself, he moved to Bengaluru twice.

However, the founder said the city wasn't a golden ticket to success, and Suyamprakasam decided it was better to build his startup in his local city.

Suyamprakasam first moved to Bengaluru in 2010 after launching a medical startup with his relative.

It turned out to be a mistake. Suyamprakasam said Bengaluru's tech ecosystem's "fail-fast" mentality put too much pressure on their medical startup. He also felt excluded for being from a smaller city, not speaking Hindi, or not having studied at India's top engineering school.

Suyamprakasam said access to talent and venture capital are huge advantages of Bengaluru, while smaller cities can offer lower costs and more space.

Still, Bengaluru doesn't compare to Silicon Valley's vast capital and power. The founder said Bengaluru can be great on its own merits, but it needs to start being more inclusive.

Read Dhruv Suyamprakasam's full story here.

Batool Fatima

Batool Fatima, 50, moved to Bengaluru nearly 25 years ago from Hyderabad. Like Chandrashekar, the founder of a local nonprofit organization saw the city known for greenery and lakes change before her eyes.

Fatima said she is concerned that the city may not be able to support further population growth and that residents must work on improving the city's problems.

She said more intellectuals and non-tech workers have moved to Bengaluru which has been beneficial. But there have been reports of tensions between locals and immigrants who don't speak the language.

The influx of people has also caused environmental strains, including a recent water crisis. Fatima said the shortage disproportionality impacted high-rise buildings, a telling example of the lack of planning around urban growth.

The philanthropist said she wanted companies to invest in solutions to protect Bengaluru's natural resources, like funding wetland wildlife reserves. She also said community action, like residents collecting stormwater drainage, is more helpful than complaining about the government.

Fatima said developing nearby suburbs could reduce the strain on the city's center and allow the tech hub to continue to thrive.

Read Batool Fatima's full story here.

Spencer Schneier

Spencer Schneier is from New York, but spends half his year in Bengaluru and the other half in San Francisco running a tech startup.

The pandemic opened Schenier's eyes to the idea of leaving the US. In 2020, Schneier worked with two Indian cofounders and joined them on a trip to Mumbai and Bengaluru. While traveling, he decided to launch a startup from Bengaluru to help businesses expand overseas.

Schneier told BI he chose the city because it gave him access to customers, other founders, and small businesses to learn from. He said the Indian startup ecosystem was more conservative than the US, but the next generation of investors is really promising.

Now Schneier spends half his time in San Francisco and half in Bengaluru. He loves the Indian city's moderate climate and generosity. The tech CEO said he struggles with traffic and bureaucracy in the city, but feels he is part of a larger trend of people moving to India to start businesses.

Schneier told BI he believes the appeal of Bengaluru's talent density and local generosity will gain popularity.

Read Spencer Schneier's full story here.

In the tussle between economic growth and sustainability, can Bengaluru have it all?

Bengaluru has undergone significant changes in its transition from a serene "Garden City" to the Silicon Valley of India. Residents said the rapid urbanization has brought both opportunities and challenges.

The opportunities — a booming tech and startup industry, jobs, and diversity — draw people to the city and keep locals living there. But residents BI spoke to are keenly aware of the tradeoffs, pointing to environmental degradation, rising costs of living, and traffic.

The tension between Bengaluru's growth as a tech hub and the cost for its inhabitants lies at the heart of the city's future.

Harini Nagendra, a professor at Azim Premji University in Bengaluru, said, "There's a city which is growing, and there's obviously the economic prosperity it brings, but there's also the ecological degradation that you see everywhere."

Nagendra echoed Batool Fatima's suggestion of a collaborative solution with companies and residents maintaining their local environments.

Narendar Pani, an economics professor at the National Institute of Advanced Studies in Bengaluru, said the city's growth also hinges on education – better education in urban planning and the ongoing strength of city's educational institutions.

"When people look at Bangalore's future, they think about roads and water," he said. "Water is important, but I think more than the roads, a much more critical element is education."

He, like other residents who spoke to BI, expressed a cautious hopefulness that Bengaluru would solve its problems and continue to grow.

"I belong here, so I would like to think the ideas will come," he said.

Once, not long ago, booking a table at a hot new restaurant didn’t entail a midnight dash to Resy. Truly, we didn’t know how good we had it then. Hours-long lines out the door are now the norm, not the exception, in major cities from New York to Los Angeles. One reason is that restaurants […]

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• Holden Karau works in Big Tech during the day and builds her startup, Fight Health Insurance, at night.
• Karau said personal experiences with health insurance denials led her to create the platform.
• The platform uses AI and machine learning to streamline the insurance appeal process.

Holden Karau works as an open-source engineer in California — but just about every day after work, she's building Fight Health Insurance, a free AI-powered platform designed to help people appeal healthcare claim denials.

The 38-year-old Canadian has worked in the big data space for years, previously holding jobs at every FAANG company aside from Facebook.

Karau told Business Insider that while she had never worked on anything healthcare-related, her personal experiences with health insurance claim denials in the US led her to create an open-source tool to automate as much of the appeals process as possible.

Karau said that she's "seen different healthcare systems and the trade-offs," and the Canadian version isn't "perfect either." However, she grew increasingly frustrated with the US healthcare system while seeking out trans healthcare in California and recovering from a motorcycle crash.

Karau said denied claims lead to "a lot of suffering in the world today," and those challenges led her to start working on the AI project to help dispute health insurance denials.

"I'm not going to put up with this anymore. It's time to fight back," Karau said she told herself as she set out to build the tool. "And I think that's probably where the name came from."

She told BI that a later experience navigating her dog's pet insurance pushed her "over the edge" and made her determined to turn the proof of concept into a consumer product other people could use.

"I was like, I've had enough. This needs to not just be like a curiosity," Karau said. She wanted to "make it accessible to the average person," which factored into the decision to make it a free service.

Now, anyone in the US can generate an appeal with Fight Health Insurance by inserting some basic information, uploading a claim denial letter, and, if relevant, their plan documents.

The platform uses machine learning to identify and confirm details, and a fine-tuned large language model to pull data from PubMed, Karau said. The company uses an in-house AI tuned from a base model from Mistral AI, Karau said. To ensure patients' privacy, the system helps anonymize information by removing names and addresses.

Once the appeal is generated, users can review and edit it before mailing it off — or have the company fax it for $5. Karau said she added the faxing service after receiving emails from users saying they loved the platform but didn't have a printer and it was costly to get it printed somewhere else.

"It's a little weird working on an AI project and then going on to eBay to buy fax modems," Karau said. "But, hey, what is life if not a little weird?"

With insurers increasingly using AI to sift through claims, Karau said Fight Health Insurance offers a way to "level the AI playing field." She said while she wants doctors to make decisions about medications and diagnoses, she sees an opportunity for more AI tools to be used in the grunt work of dealing with insurance. Karau said AI could be useful in following up with patients after appointments, whether it be for reminders about surgery or to submit an out-of-network provider form.

The company now has two full-time staff and a few part-time contractors. Eventually, Karau said she plans to monetize the platform by building a professional version for hospital systems and medical vendors, who are also "feeling the pain from health insurance denials."

"Doctors are just super frustrated with all the time they spend dealing with insurance companies," Karau said.

Karau said that she plans to keep the consumer version free, aside from the $5 optional cost to have the company fax out an appeal.

"I think that it's really important that patients don't want to pay to use Fight Health Insurance because they already pay so much," Karau said.

Since launching the side project in August, Karau said over 1,000 have used the platform to help generate an appeal, and a handful have reached out to her to share success stories. She said just the other day she was talking to someone whose back surgery was successfully appealed using Fight Health Insurance.

"Now they're looking forward to getting back to riding motorcycles next year," Karau said.

Exactly how many of those appeals were successful isn't clear because users get responses directly from their health insurers rather than through the platform. The company also doesn't store user emails unless users opt-in, Karau said, so it currently doesn't have a way to follow up with people to learn the outcome unless they choose to share their contact information. However, she plans to incorporate replies from the platform in the future professional version to better track success stories.

In regard to recent conversations about the health insurance industry following the shooting of UnitedHealthcare CEO Brian Thompson, Karau said she understands the intensity of emotions surrounding what can sometimes be life-or-death treatment decisions made by insurance companies.

She also said there's been an increase in traffic to the Fight Health Insurance website in the wake of the larger discussion online about frustrations with the healthcare system in the US.

"I think consumers are hurting a lot in the health insurance space right now," Karau said.

• Samantha Shih sold her custom clothing company 9Tailors to join LookSky as chief brand officer.
• Shih founded 9Tailors in 2008, growing it through challenges like the financial crisis and pandemic.
• Her C-suite role both doubled her salary and allowed her to balance her work and family life.

This as-told-to essay is based on a conversation with Samantha Shih, a 43-year-old chief brand officer from Boston. It's been edited for length and clarity.

After graduating from Brown University in 2003, I worked as a consultant at Deloitte for three years before spending a year in China. There, I started making custom clothing, which inspired me to open a custom suiting and shirting company. I founded 9Tailors in Boston in 2008.

Launching a business was challenging because I had little experience in retail and fashion and had to learn everything from scratch. I had some business strategy knowledge from working at Deloitte but didn't have operational knowledge.

I learned and grew the company for 14 years. In 2022, I sold 9Tailors and jumped ship to work for a startup.

Launching a company in 2008 was tough

I had a lot of friends who were getting laid off, but I was optimistic. You can only go up from the bottom, so I thought it was an excellent time to start a business.

The company started online, keeping no inventory and making everything to order. This allowed us to identify our target customer — young professional males looking to dress up for work or weddings.

We've been profitable since year two, winning awards and garnering press until the pandemic threw everything off track. Running a high-touch custom clothing company that needed in-person contact and relationships was stressful. We pivoted toward making masks and sold out immediately.

Around this time, my brother called me one day out of the blue

My brother told me his former boss was advising LookSky — an Asian direct-to-consumer fashion brand looking to enter the US market — and they wanted to speak to a fashion industry expert. I had no set expectations for these calls — I enjoy helping people and sharing industry and fashion insights.

What started as one call turned into three or four calls. I met with the chairman, CEO, and the rest of the C-suite team. The company's chairman asked if I was interested in joining them.

I had to think about it. 9Tailors was never busier after the pandemic; there was so much pent-up demand for suits, shirts, and dressing up, and our revenue kept growing.

Two things made the decision easy for me

LookSky allowed me six months to transition out of my business and design my dream job description from scratch. Although I suggested the position of creative director, they offered to hire me as the chief brand officer. I was pleasantly surprised they wanted me at the C-suite level.

I loved running my own business but wanted to make more impact, so the opportunity arose at the optimal time. At LookSky, I would have the opportunity to scale a personalized experience to potentially millions of users.

Also, I had my first child in 2017 and wanted to spend more time with him instead of working crazy retail hours. I had started feeling worn down.

I accepted their offer and nearly doubled my salary at 9Tailors.

Balancing both jobs for a while was tough

During the six-month transition, I worked about eight hours daily, six days a week on 9Tailors. Then, after my son went to bed, I dedicated time to LookSky, often for team meetings or marketing and branding projects. I thrive on being busy, so it was manageable.

LookSky asked me to sell my business, but I couldn't talk about it until we signed the papers and closed because it could destabilize my clients and team if it didn't go through.

The final sale was to my CMO. Even though several businesses expressed interest in buying, I preferred to sell to someone who knew the company, our clients, and how we operate.

My last day at 9Tailors was the same day I announced my departure and the sale of the business to the team. To help transition, my husband, who worked at the company for a good chunk of the 14 years that I did, stayed on for another six months.

I work remotely for LookSky, as most of my team is in Asia

Working remotely was initially a shock because I'm an extrovert who loves being around people, but one of the biggest advantages is having more control over my schedule.

Mornings and evenings are typically dedicated to team calls. Afternoons provide a window for productive personal time — I might work out, dive into a business book (I'm reading "Good to Great" by James C. Collins), or listen to a startup or tech podcast like Lenny's Podcast, Hard Fork, or How I Built This. Best of all, I can attend my son's events and activities.

Last summer, I was diagnosed with breast cancer, which was a shock

After hearing of my diagnosis, my team could not have been more supportive, telling me to take as much time as needed. I like being busy and productive, and work actually allowed me some reprieve.

I've found a company that nurtures my strengths and encourages and supports me in learning new skills. I'm surrounded by bright people who motivate me to do my best work. I've grown and developed tremendously.

I don't miss running 9Tailors, though I'm incredibly grateful for the experience. While I might consider running another startup in the distant future, I'm genuinely happy with where I've landed.

Have you been poached and want to share your story? Email Lauryn Haas at [email protected].

Cybersecurity practitioners take a community-driven approach to solving problems. Security researchers share the vulnerabilities they find with the broader cybersecurity community, which allows companies to patch up their security holes before something catastrophic happens. Prequel is looking to bring that same approach to software. The startup is building a database of software failure patterns or […]

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• Spencer Schneier moved from the US to Bengaluru, India, to launch a tech startup in 2022.
• He was inspired by challenges faced by local founders in navigating overseas expansions.
• He finds Bengaluru similar to Silicon Valley and its collaborative ecosystem.

This as-told-to essay is based on a conversation with Spencer Schneier, who moved from the US to Bengaluru, India, to launch a tech startup in 2022. It has been edited for length and clarity.

The first time I thought about leaving the US was in mid-2020. I was frustrated with how the pandemic was handled and was looking for a reason to leave the country.

I was born in New York and grew up around the East Coast. I attended college in North Carolina, where I studied math and economics, but dropped out in my third year in 2017.

Around the time, I became interested in Silicon Valley — it felt like a meritocratic place where people could take their own path. After leaving college, I worked as a baseball analyst and traveled between Seattle and San Francisco.

When the pandemic hit, I dropped plans to move to San Francisco. I thought the city was declining, and I preferred my lifestyle in Seattle. I was working for a startup with two Indian cofounders. When they decided to pursue the business full time, they faced visa challenges and had to move back to India. So, in 2021, I tagged along to visit India for the first time, traveling to Mumbai and Bengaluru.

On that trip, I met my wife, an American teacher in India. I also stumbled upon the idea for what would eventually become Commenda — the company I cofounded.

I came up with the idea for my company in India

I was talking to local founders in Mumbai who faced challenges registering or expanding their businesses in other countries. There are hundreds of multilateral trade agreements between countries and thousands of bilateral trade agreements, and no tool for businesses to navigate them.

I returned to the US about a month later and pitched a friend and investor at an early-stage venture-capital firm my idea: a platform that would become a one-stop compliance solution for companies looking to expand overseas.

I didn't have a concrete product, but they liked the idea and wanted to invest $100,000. The investors asked me to go back to India and figure things out. It seemed like a great opportunity. I convinced my cofounder to leave his job at Google, and we both went to Bengaluru without an explicit plan.

Being my own boss was tough in some ways, but I liked being able to do things on my own without the pressure of having a manager. I've been fired from jobs twice, and starting my own company was almost relieving.

In early 2022, we began building our company in India and wanted to provide solutions to both Indian and overseas businesses. We picked Bengaluru because it's where a lot of startups and multinalitional companies are that could use our service.

We developed enterprise software so that users could answer questions they had about local tax laws and ensure they incorporated and stayed compliant in any country they wanted to expand to.

Bengaluru is similar to Silicon Valley in some ways

Bengaluru felt like Silicon Valley in many ways. It's listed as a sister city of Silicon Valley at a train station in San Francisco.

During my first visit, driving through south Bengaluru reminded me of Palo Alto, and talking to people confirmed it. The city is a tech and business hub with many small businesses and startups, so it gave us access to customers.

The city has an amazing pool of talent and is home to really open and collaborative founders. There are some great startup advisors and angel investors driving the ecosystem forward here.

Being in Bengaluru means we learn from local startups. There are cultural differences between the startup markets in the US and India. I've had to learn things about India and unlearn aspects of how business is done in the US.

One difference was that India is a less trusting ecosystem — we have had investors ask questions after agreeing to invest and completing diligence processes, even for a small check size.

Sometimes I wish the ecosystem was moving more quickly away from venture-capital funds operating more like private equity. But the new generation of fund managers is really promising.

Splitting my time between Bengaluru and San Francisco

Since we launched the company in 2022, we have faced some hiccups with immigration, but registering and operating in India has never been much of an issue.

I had an e-business visa to work in India. The visa office struggled to coordinate with India's Ministry of Corporate Affairs to ensure I was cleared to open a business in the country, which dragged the process out by a few months.

I wish the roads were better, and the traffic makes it hard to get around. I have also been rejected from renting an apartment because the landlord didn't like that I was a college dropout. Getting a permanent phone number was challenging, too, but knowing other foreigners had been through some of our problems made it easier.

The year-round moderate weather and air quality are perks. I love how hospitable the people of India are. It's one of the most fun countries I have lived in because there are tons of festivals and parades. My wife and I enjoy traveling, and we can stay in nice hotels because they are more affordable in India. We are also close to Southeast Asia, which would have been very expensive to travel from California.

I have apartments in San Francisco and Bengaluru and spend about half my time in each place. My wife and I bought our San Francisco apartment this summer, but I have not had an official residence in the US since 2021. About one-third of our team is in Silicon Valley, while the rest are in Bengaluru. Since we launched in 2022, we now have 250 customers in around 30 countries.

I know other foreigners who have also moved to India to launch businesses. My sense is that moving to India is going to become more of a trend. I don't know if you're going to see a Little America in Bengaluru anytime soon, but there are just so many appealing things about it, such as the talent density and the generosity of the locals.

As more Americans consider leaving the "college to cubicle" paradigm, moving to a foreign country to work for a business or start a business will become more appealing.

AI models that understand videos as well as text can unlock powerful new applications. At least, that’s what Jae Lee, the co-founder of Twelve Labs, believes. Granted, Lee’s a little biased. Twelve Labs trains video-analyzing models for a range of use cases. But there may just be something to his assertion. Using Twelve Labs’ models, […]

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It’s becoming increasingly costly to develop and run AI. OpenAI’s AI operations costs could reach $7 billion this year, while Anthropic’s CEO recently suggested that models costing over $10 billion could arrive soon. So the hunt is on for ways to make AI cheaper. Some researchers are focusing on techniques to optimize existing model architectures — i.e. […]

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Threat exposure management startup Flare thinks it has an answer to info-stealers with a service that watches the dark web, resets passwords.

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In the U.S. it’s common for companies that have both physical branches and online services to use customer relationship management (CRM) software that tracks all of their interactions with customers in one place. In LatAm that isn’t the case, though, as many enterprises and banks keep the data from physical locations siloed from its digital […]

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Devs expect tech vendors to supply software development kits, or SDKs, alongside their products to make it easier to create apps using those products. But many vendors only offer APIs, which are simply protocols that enable software components to communicate with each other. Alex Rattray, the founder of Stainless, thinks AI can assist, here. Stainless […]

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• Tiya Gordon worked in design before she pivoted to cofounded It's Electric, a climate tech startup.
• Gordon launched the company in 2022 after struggling to find an accessible EV charger in Brooklyn.
• She shared how they raised $11 million in grants and investment from prominent investors like Uber.

This as-told-to essay is based on a transcribed conversation with Tiya Gordon, 45, the founder of electric charging startup It's Electric. The following has been edited for length and clarity.

I'm a New Yorker and a staunch believer in public transportation. For most of my life, I never owned a car.

During the COVID-19 pandemic, all the forms of public transportation I used daily were unsafe.

I had to think about how I could transport my then-five-year-old and how I would reach family members if something terrible happened.

I considered getting a car for the first time. I made this list: It was written in Sharpie on a piece of grid paper, and it said, "New?" "Used?" "EV???" However, I had to immediately eliminate electric vehicles from my potential options because, in 2020, there was no accessible place to charge them in Brooklyn.

I realized there was a lack of infrastructure to transition to EV cars and that was the seed idea for my company.

Although my career was in design, I pivoted and cofounded a climate tech startup called It's Electric in 2022. We're focused on scaling electric vehicle charging in densely populated cities.

We're now a company of 10 people and we've received $11.8 million in funding and grants. Uber invested in our seed round. My best advice is to find simple solutions to big pain points and prove your work with receipts.

We found a simple solution for electric charging

When we started building It's Electric in 2021, my cofounder and I conducted research to determine what was preventing EV chargers from being deployed quickly and at scale in US cities.

In a city like London, there are a lot of lampposts that have been retrofitted into curbside chargers because they can handle 220 to 240 volts of electricity. In the US, the power feeds in our lamposts are typically much lower, at 110 volts.

If we wanted to have lamppost chargers, we'd need to upgrade the utility main and corresponding interconnection agreement, load analysis, transformer, submeter, and customer connection box.

We discovered that one asset in cities, that has plenty of power ready to go, is buildings, which we can use to power public chargers.

If a library, home, or commercial building agrees to power a public charger, we share revenue with that building to give them passive income as an incentive. It's a very simple idea. We say it's not deep tech, it's shallow tech.

Running a pilot helped get investors on board

Our business started with just us two founders, but after we raised a $2.2 million pre-seed round in May 2023, we hired our first two employees.

During our pre-seed stage, multiple investors told me that our idea was so simple that it must not work, or surely someone else was already doing it. We had to prove that a simple solution could be effective.

One way we did that was by getting our pilot off the ground in 2023.

We secured our partnership with Hyundai after winning their EV Open Innovation Challenge. Winners were selected based on their potential to expand market access to electric vehicles.

We knew we needed to test in the real world and in a notoriously hard-to-open city. So we approached the New York City Economic Development Corporation to ask if we could pilot our technology on their buildings in the Brooklyn Army Terminal. After much work, this became our first pilot and was crucial to landing investment.

Our work on this pilot was so successful that EDC launched a brand new program based on our pilot.

Have receipts and discuss your wins

Our pilot demonstrated that our solution offsets emissions, and we could collect data from the demo to show it was scalable, low-cost, and quick to install.

The pilot meant I could provide investors with proven results. We'd gone beyond what investors expected of us, which placated their queries and also attracted investors we hadn't yet spoken to.

Having a small-scale demonstration of your solution is more helpful in pitching to a large corporation than trying to sell a concept. It meant we were able to demonstrate a Series A level of progress at a pre-seed level.

So many investors said, "If it is so simple and such a good idea, then why aren't others already doing it?" My answer was, "Because no one else is doing it, we are the first." My advice to founders is to be tenacious but make sure you have the receipts.

We talked about our wins, such as prize nominations and media acknowledgments, to show investors that, by the jury of peers, our solution is winning.

Uber invested in our seed round

In July 2024, we closed our $6.5 million seed round, which was co-led by a Nordic fund, Failup Ventures, and Uber. Now, we're a team of 10.

Our involvement with Uber began when we met representatives from the company at a conference. Everyone thinks of companies like Uber as big corporate giants, but we started our partnership with them by chance. It wasn't a sales or business meeting; it was just two optimistic people working in transportation who had a great conversation.

A big challenge to Uber's zero-emissions goal is that Uber drivers live in cities and don't have garages, so it's really hard to charge electric vehicles. We provided a cheap, fast solution for urban drivers to charge electric cars. Uber needed more drivers to adopt electric cars to reach its goals, and we pitched ourselves as that stepping stone. A series of productive conversations helped us build this partnership.

Having Uber support our solution has been a great validation for our startup. It's also meant we've had access to smart people on their team to understand different policies and how we can help meet city goals.

My advice for founders who want to develop relationships with established companies is to try to solve problems for other people. Don't say you want a partnership because of what it can do for your startup, but put yourself out there as the problem-solver for a larger corporation. You want to find their pain point and point out that there isn't a solution that's already in the market.

• More than 58 million Americans have had packages stolen in the past year, per a recent survey.
• Now, one startup is launching a service to insure against porch pirates.
• PorchPals founder James Moore explains the surprisingly tricky math needed to solve the problem.

Following the largest day of online shopping ever on Cyber Monday, hundreds of millions of packages have by now reached doorsteps across the US.

But an untold number of those deliveries have also likely found themselves snatched up by someone other than the person to whom they belong.

Now, one startup is launching a service to insure shoppers against these so-called porch pirates.

"We want our service to be used by the consumer when they need us," PorchPals CEO James Moore told Business Insider, "You know, when those Christmas gifts get stolen, that or that Xbox, or that PlayStation, or that pair of Nikes that cost you $300."

The service, which officially goes live on Monday, covers up to three stolen packages a year or a maximum claim of $2,000 for an annual fee of $120. Customers link their payment card to the service and all future e-commerce purchases made with that card are covered, the company says.

As with any insurance product, there is some surprisingly tricky math that goes into putting a tidy number on such a messy problem like parcel theft.

Moore told BI that PorchPals used three separate actuarial teams working independently on the problem to reach a comparable risk profile. The teams represented some industry heavy-hitters, including Lockton Re, Pinnacle Actuarial Resources, and PorchPal's underwriters at Lloyds of London's Newline Syndicate.

Over the past year, more than 58 million Americans are estimated to have had one or more packages stolen, according to a recent survey from tech reviews website Security.org.

Of course, some households experience multiple thefts, and PorchPals estimates the number of stolen packages at around 119 million last year.

In an earlier trial in California, Moore said PorchPals users typically used the service for packages worth between $250 and $280. That figure represents an unfortunate sweet spot in the world of missing parcels: Shipments worth $2,000 or more tend to require a signature at delivery, and refunds for less than $50 can often be processed without too much hassle by retailers who want to keep their customers happy.

Once the value gets above a hundred bucks, police reports and other documentation can start complicating the picture.

The Security.org survey found the median package value that customers reported to law enforcement was $195, while the median value of unreported packages was $50.

Those higher-value losses can lead to a loop of calls to retailers, delivery companies, local police, and back again.

"At some point you've called everybody," Moore said.

Moore said shoppers may not realize how impractical other forms of protection really are in the case of package theft. For instance, homeowner and renters insurance policies typically have higher deductibles than make sense for a $250 claim. Credit card policies can have requirements that packages be reasonably protected against theft, he said.

From a risk perspective, Moore said the nature of package theft makes it different from other property crimes, such as how ZIP code crime rates can affect auto insurance premiums.

"It's not the ZIP codes that you'd think," he said. "In porch theft it's different. The thief is looking for high-dollar items."

Porch pirates may steal from all income levels, but Moore says some of the more expensive packages are snagged from wealthier doorsteps that might otherwise have "this aura of safety," such as gated communities or luxury condos with a concierge desk.

"The number of packages just sitting out there, just left to the open… I mean, it's vast," he said.

xAI, Elon Musk’s AI company, has raised $6 billion, according to a filing with the U.S. Securities and Exchange Commission on Thursday. Investors gave a minimum of $77,593, per the filing (97 participated, but the document doesn’t reveal their identities). The Wall Street Journal previously reported that Valor Equity Partners, Sequoia Capital, and Andreessen Horowitz […]

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Cyberattacks are on the rise. In Q1 2024, organizations experienced an average of around 1,300 attacks per week. The cost of attacks is climbing, as well. Per Statista, cybercrime-related losses could surge to over $13 billion by 2028. Software is one way to combat these attacks. Hardware is another. Startup Axiado is a proponent of […]

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Cyberattacks are on the rise, and the victims are high-profile. According to a KPMG survey, close to half of companies with $1 billion or more in annual revenue recently suffered a security breach. Surprisingly, an overabundance of security tools may be contributing to the problem. In a separate poll, 43% of businesses said their teams […]

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In this hyperconnected world we live in, it’s easier than ever to send feedback to the companies we patronize. But just because businesses offer more ways to get in touch doesn’t mean they’re poring over every comment. According to a 2020 survey from Productboard, 90% of companies fail to successfully capture feedback from all channels […]

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