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MENLO PARK, Calif. — Evan Williams did not want to start another startup. He had already enjoyed the kind of rare, unfathomable success most entrepreneurs only dream of, starting tech companies that made products used by millions — the early blogging site Blogger, the social media giant Twitter, the publishing platform Medium. Along the way, Williams had grappled with corporate turmoil and angst. His last company, Medium, was a decade-long slog that never lived up to its $600 million valuation or lofty mission of solving the internet’s ugliest problems. By the time he stepped down as CEO in 2022, he had no desire to do it again, he said. But he was lonely. He had gotten divorced and moved cross-country twice in a few years. Before his 50th birthday in 2022, he realized he had “underinvested” in his friendships, he said. Post-pandemic, he did not even know where many of his friends were living. “I was doing a lot of reflecting,” Williams said. “In this stage of life, I really wanted to focus on relationships.” Pouring so much energy into his startups was one reason he had this problem. But maybe a startup could also help fix it. In 2022, Williams began working on a Rolodex app that would tell him where his friends were living and traveling. It would be more “social” than “social media,” with none of the comments, stories, posts, likes, hearts or follows that made his previous creations so addicting. But Williams still didn’t want to run a company. Through mutual friends, he met Molly DeWolf Swenson, an entrepreneur, who became a co-founder and the CEO. Last month, they raised $6 million in funding from Obvious Ventures, an investment firm co-founded by Williams, as well as WndrCo and BBG Ventures. This week, they plan to unveil their app, Mozi, which is aimed at helping people foster in-person connections with their social circle. It lets people tell their friends about upcoming plans that may overlap. Those who join the app will see a private friend list based on their phone contacts. They get notifications if a contact plans to visit their city or attend the same event. Profiles include user-supplied information such as dietary restrictions, relationship status, family members and pet names. Organizing contacts by location and travel plans may appeal to a certain type of jet-setting tech worker whose friends are spread around the world. Mozi’s founders hope it will be just as useful for people who don’t travel but want to know when their friends are in town. The company also plans to promote itself around events like music festivals and business conferences. Williams views Mozi as an attempt to return to social media’s original intention, which was about interacting with people you already knew. Over the years, social media companies evolved into just plain media — a place for watching videos from influencers and professional entertainers, reading links to news stories, sharing memes or impulse shopping via highly targeted ads. Many of the apps are optimized to get users hooked on an endless scroll of new information. Williams once spoke out about how wrong he had been about the promise and benefits of social media like Twitter and how he was determined to address thorny problems such as harassment, misinformation and extremism at Medium. He is now more at peace with the role of the internet and its trade-offs. “The internet did make us more connected,” he said in an interview in Menlo Park, California. “It just also made us more divided. It made us more everything.” Mozi is meant to be a utility. If a user wants to message a friend in the app to make plans, the app directs them to the phone’s texting app. “We’re not trying to keep people on the app,” said DeWolf Swenson, 37, who was a founder of RYOT, a virtual reality startup, and was head of global partnerships at Community, an app that allows public figures and brands to text their fans. “If we’re doing our job well, you’re finding that information as quickly as possible and then getting off the app.” As a power networker who created an elaborate spreadsheet tracking her friends and business contacts, DeWolf Swenson was Mozi’s ideal user. But even the best system could not tell her if someone would be home when she visited their city, she said. Consumer apps like Mozi are out of step with the tech zeitgeist, which has centered most recently on artificial intelligence. But James Joaquin, a co-founder of Obvious Ventures, said he was compelled to invest in Mozi after talking to its early testers. They shared stories about reconnecting with old friends via the app — moments that seemed valuable enough that customers might pay for it, he said. Mozi is free, but plans to charge for premium features it develops. Other founders also see the potential of using online tools to help people connect in person. Andy Dunn, a founder of the e-commerce company Bonobos, raised $24 million over the past four years for Pie, an app that lets creators organize events like running clubs and game nights with the goal of helping people make new friends. The app, available in Chicago and San Francisco, took off this year with 50,000 monthly users, he said. “Even people who love social media or use it frequently know it’s not necessarily that social,” Dunn said. “Mostly it’s an experience we do alone.” Williams also invested in Pie. The two entrepreneurs spent time together last year in Brazil, where they debated social media’s future at the beach. Williams wore a T-shirt that said “More social less media,” Dunn recalled. They determined that the challenges created by social media wouldn’t be solved by making a better social media product. Williams said he decided Mozi was worth building after reflecting on the importance of relationships. Looking back, he said, “everything that had gone really well, even in work, was about relationships, and everything that went poorly was mismanaging relationships.” He added that he was not raised with good relationship models. “I learned late in life what a healthy relationship and conflict resolution looked like, and that was a cause of a lot of my pain and suffering,” he said. When Williams turned 50, his son called it “halftime.” The analogy made him feel optimistic, he said, since “a lot can be determined in the second half of the game.” This article originally appeared in .

German police arrested a 50-year-old Saudi Arabian doctor, Taleb Abdul Jawad, who allegedly rammed a car into a Christmas market in Magdeburg. Video footage of the incident circulated on social media platforms shows a speeding black BMW SUV smashed through protective barriers in the bustling festive market on Friday evening, December 20. Additional Footage showing the Arrest of the Suspect who committed tonight’s Ramming Attack on a Christmas Market in the German City of Magdeburg pic.twitter.com/Anpr0Ibso9 This horrific attack killed two, including a toddler, and injured more than 60 people in the market, 15 of whom remain in critical condition. Taleb Abdul Jawad, identified as Taleb A, is a consultant for psychiatry and psychotherapy, according to a report by The Guardian . According to his social media profile , Taleb is a vocal critic of Islam and supports Alternative for Germany (AfD), a far-right German political party, which has an anti-immigration stance. Taleb was born in Hofuf, a Saudi Arabian city, in 1974. He has been living in Germany since 2006 and is a resident of the eastern state of Saxony-Anhalt. The BBC reported that he was unable to express his atheist beliefs in Saudi Arabia. After settling in Germany, Taleb launched “wearesaudi.net” to aid ex-Muslims fleeing the Gulf region and provide information for others seeking similar support. As per multiple media reports, he is wanted in Saudi Arabia on charges of terrorism and smuggling women from the Middle East into European countries. Despite the charges brought against him, Germany refused to extradite him to Saudi Arabia and granted him asylum in 2016. Commenting on the incident, Saxony-Anhalt state premier Reiner Haseloff told reporters, “We have arrested the perpetrator, a man from Saudi Arabia, a doctor who has been in Germany since 2006. From what we currently know, he was a lone attacker, so we don’t think there is any further danger.” 4. REPORTEDLY ON THE RUN? According to UAE and Saudi Arabian X users, the alleged attacker, Taleb Al Abdulmohsen, is a fugitive from Saudi Arabia. The German government reportedly refused to extradite him despite Saudi Arabia’s requests, citing human rights concerns.... pic.twitter.com/vqsxXkqa45 The attack occurred eight years after an attack on a Berlin Christmas market. In 2016, an Islamist extremist drove a lorry into a Berlin Christmas market, causing 12 deaths. The attacker was killed in a shootout in Italy days later.Australia’s media movers and shakers on who survives in Australian journalismThe urban air mobility revolution is approaching faster than many realize. Electric vertical takeoff and landing (eVTOL) aircraft -- essentially next-generation helicopters powered by batteries instead of jet fuel -- represent a transformative leap in urban transportation. JPMorgan analysts estimate this emerging market could reach $1 trillion by 2040, as electric aircraft transform transportation between and within cities. While many start-ups are pursuing this opportunity, one company has rapidly distinguished itself through exceptional execution and strategic partnerships. With strong order flow, key industrial partnerships, and a clear path to production, Archer Aviation ( ACHR 12.71% ) warrants serious attention from growth investors . Yet beneath this promising exterior lies a potential risk that could significantly impact long-term shareholders. Here's why I'm both excited and concerned about Archer's trajectory. Breaking ground in Georgia I'm particularly impressed by Archer's new 400,000-square-foot manufacturing facility in Covington, Georgia. This milestone represents a crucial step in the company's journey from concept to commercialization. Initial production is scheduled for early 2025, with plans to reach two aircraft per month by the end of the year. The facility's ultimate target of 650 aircraft annually by 2030 demonstrates what I consider a well-balanced approach to scaling production. The manufacturing ramp-up strategy shows both ambition and pragmatism, key traits I look for in early-stage aerospace companies . Validation through partnerships What catches my attention next is Archer's recent exclusive agreement with Anduril Industries to develop military aircraft. This partnership becomes even more intriguing when considering Anduril's recent moves in artificial intelligence and autonomous systems. Speaking to this point, the defense technology company just announced a strategic partnership with OpenAI to advance autonomous defense capabilities, particularly in counter-drone applications. I see powerful synergies between Archer's eVTOL expertise and Anduril's Lattice software platform, which enables a single operator to control multiple autonomous systems across different domains. The development of autonomous or optionally piloted military aircraft could open up entirely new mission capabilities for the Department of Defense. Furthermore, the $430 million capital raise supporting this partnership, which included participation from strategic investors like United Airlines and Wellington Management, reflects the market's recognition of these possibilities. Meanwhile, on the commercial front, a joint venture with Japan Airlines and Sumitomo Corp. could generate up to $500 million in aircraft orders. These partnerships have helped push Archer's indicative order book beyond $6 billion, validating both its technology and business model. Defense sector potential I'm intrigued by the market's seeming underappreciation of Archer's defense opportunities. Major defense contractors like Lockheed Martin , General Dynamics , and Northrop Grumman have historically outperformed the S&P 500 by substantial margins over extended periods. This outperformance stems from lucrative, multiyear government contracts and consistently strong bipartisan support for defense spending. LMT Total Return Level data by YCharts With a market capitalization of just $3.6 billion at recent prices, Archer's current valuation appears to largely ignore its defense potential through the newly minted Anduril partnership. Developing specialized hybrid VTOL aircraft for military applications could open up decades of steady, high-margin revenue streams. Many successful defense contractors began as small, specialized technology companies before growing into industry giants. I believe Archer's early moves into this sector could prove similarly transformative for the company and its shareholders-but only if it remains independent long enough to capitalize on this opportunity. Disciplined financial management I'm particularly impressed with Archer's financial discipline for a pre-revenue company. With over $500 million in cash and stable quarterly spending, the company's balance sheet screens as exceptionally strong. Moreover, Archer's 12.4% share count increase over the prior three years stands well below its peers' 21% average dilution rate. This conservative approach to capital management suggests to me that Archer's leadership team deeply values shareholder interests. That's a key trait I look for when investing in cutting-edge growth companies. A partnership's hidden risk Here's where my concerns begin to surface. Global auto giant Stellantis ( STLA 0.39% ) , formed by the 2021 merger of Fiat Chrysler and PSA Group, owns a whopping 20.2% stake in Archer. While the automaker's manufacturing expertise and financial support are crucial to Archer's development, I believe this substantial position could foreshadow a full acquisition attempt. Stellantis brings invaluable automotive mass production knowledge to the table and has committed significant resources to Archer's success. However, the automaker is facing its own challenges. The recent unexpected departure of CEO Carlos Tavares and the company's declining European market share have created uncertainty around its strategic direction. This turbulence at Archer's largest shareholder and key manufacturing partner adds another layer of complexity for investors to consider. To sum up, I worry that Stellantis, seeking to transform its business amid industrywide electrification challenges, might view acquiring Archer as a strategic necessity. Even at a significant premium, such a scenario might deny shareholders the full value of Archer's long-term potential across air taxi services, aircraft sales, and defense contracting. The investing takeaway In my view, Archer Aviation exemplifies the rare start-up that has successfully navigated the challenging path from concept to imminent production. However, the partnership that helped enable this success might ultimately limit shareholders' returns. Investors must weigh the company's tremendous potential against the possibility that Stellantis' significant ownership stake could lead to a premature acquisition, cutting short what could be a much longer and more valuable growth story. After all, Stellantis has a well-established history of acquiring innovative companies with a potential technological moat -- and Archer fits that description to a tee.

Biden’s Education Department shelled out $1B on DEI since 2021: reportBusiness combination closed November 13, 2024 Raised $10 million of gross proceeds in connection with the business combination Agreements are in place with Yorkville for up to a $50 million standby equity purchase agreement, to raise an additional $2 million in debt financing and the sale of up to 500,000 shares of common stock pursuant to forward purchase agreement Financing will support advancement of Abpro's pipeline of its next-generation antibody therapies for cancer, ophthalmology, and infectious diseases WOBURN, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. ABP ("Abpro"), a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, celebrated the closing of its business combination with Atlantic Coastal Acquisition Corp II ("ACAB"), a special purpose acquisition company, with a Nasdaq bell ringing ceremony. Abpro also celebrated the consummation of a PIPE offering raising $7 million in gross proceeds and a $2.76 million convertible note financing with YA II PN, LTD ("Yorkville") to cover expenses in connection with the closing of the business combination. As previously announced, Abpro also has entered into a Standby Equity Purchase Agreement with Yorkville (the "SEPA") pursuant to which Abpro has the right, but not the obligation, to issue up to $50 million in shares of its common stock to Yorkville upon registration of such shares, provided that no balance is outstanding on any promissory note to Yorkville (currently $3 million dollars outstanding). Among other restrictions and conditions set forth in the SEPA, the number of shares Abpro may request may not exceed the average of the daily traded amount of its shares of common stock during the five consecutive trading days preceding such request, and shall not cause Yorkville's ownership to exceed 4.99% of the then outstanding common stock of Abpro, and the maximum amount of shares issued under the SEPA cannot exceed 19.99% of the outstanding common stock of Abpro without prior shareholder approval. Upon registration of the shares subject to the SEPA, Abpro has the right to receive financing for an additional $2 million. As previously announced, Abpro also has entered into a forward purchase agreement for the sale of up to 500,000 shares of common stock. Abpro believes that the various financings should significantly improve Abpro's financial flexibility as it advances the development of its pipeline of its next-generation antibody therapies. "Becoming a public company represents a major milestone in our journey to provide solutions for patients with difficult-to-treat oncology and ophthalmology indications," said Ian Chan, CEO and co-founder of Abpro. "The funds are expected to help accelerate the advancement of our pipeline to clinical trials. The financing will also provide the foundation for ongoing development of novel immunotherapies and next-generation antibody treatments in our pipeline with the aim of improving the lives of patients in need." Abpro is advancing its pipeline of next-generation antibody therapies for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These next-generation antibodies are developed using Abpro's proprietary DiversImmune® platform, which creates antibody therapies against traditionally difficult targets. Abpro has partnered with Celltrion , a leading South Korean pharmaceutical company, in an exclusive global collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancers. Soo Young Lee, Senior Vice President and Head of the New Drug Division of Celltrion Inc. and a member of Abpro's Board of Directors, remarked, "Abpro's ABP 102 drug candidate has shown preclinical data indicating the potential for better efficacy and less toxicity. We look forward to working closely with Abpro to advance ABP 102 into clinical trials." Tony Eisenberg, who serves as a Director of Abpro, and had served as Chief Strategy Officer of ACAB prior to the business combination, added, "It's an honor to be part of Abpro and the groundbreaking work they are doing. The Atlantic Coastal team is excited to have successfully completed this business combination with Abpro and to work with the Abpro management team to execute their long-term operational and strategic objectives as they develop next-generation antibody therapies with the potential to save lives and generate real return for investors." Abpro's Chairperson, Miles Suk, stated, "As the chairperson of the board, I am honored to guide Abpro through this landmark achievement. This listing marks a new chapter of growth and opportunity, and we remain committed to delivering sustainable value to our shareholders." About Abpro Abpro's mission is to improve the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies. Abpro is advancing a pipeline of next-generation antibody therapies, for HER2+ breast, gastric, and colorectal cancers, non-HER2+ gastric and liver cancer, wet age-related macular degeneration (AMD) and diabetic macular edema (DME), and infectious diseases. These antibodies are developed using Abpro's proprietary DiversImmune® platform. Abpro has partnered with Celltrion, which is a leading South Korean biotechnology company, ranked top 25 in the world by market capitalization, in an exclusive collaboration to further advance ABP 102, a T-cell engager, which is being developed for the treatment of HER2+ breast, gastric, and pancreatic cancer. Abpro is located in Woburn, Massachusetts. For more information, please visit www.abpro.com . Forward Looking Statements This press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; Abpro's ability to raise additional capital; the outcome of judicial proceedings to which Abpro or its subsidiaries is, or may become a party; failure to realize the anticipated benefits of the Business Combination, including difficulty in, or costs associated with, integrating the businesses of ACAB and Abpro; risks related to the rollout of Abpro's business and the cost and timing of expected business milestones; the effects of competition on Abpro's future business; and those factors discussed in Abpro's public filings under the heading "Risk Factors," and other documents of Abpro filed, or to be filed, with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the "Risk Factors" section of Abpro's public filings and other documents to be filed by Abpro from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Abpro may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Abpro does not give any assurance that Abpro will achieve its expectations. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.As Texas Chief Justice Nathan Hecht prepares to retire, he reflects on the court he helped changeCALGARY - Former NHL star Joe Thornton and Calgary Flames front office executive Brad Pascall are heading the management team for Canada’s Spengler Cup squad for a second straight year. Hockey Canada announced its 2024 Spengler Cup management group Tuesday, with Thornton and Pascall working as co-GMs and Hnat Domenichelli joining them as an assistant. Thornton made his international management debut at last year’s Spengler Cup, when Canada lost 4-3 to Czech squad HC Dynamo Pardubice in the semifinals. He ended his 25-year professional playing career after the 2021-22 NHL season and finished with 1,539 points in 1,714 games with Boston, San Jose, Toronto and Florida. His international career includes gold with Canada at the 2010 Olympic Games in Vancouver and a Spengler Cup title in 2004 while playing for the tournament host team, Switzerland’s HC Davos. Pascall is currently in his 11th season as assistant general manager of the Calgary Flames, and his second as vice-president of hockey operations. Domenichelli has served as general manager of HC Lugano in Switzerland since 2019. As a player, he had an 18-year professional career that included 922 games in the NHL, American Hockey League and Switzerland’s National League. The Spengler Cup runs Dec. 26-31 in Davos. The hosts are the defending champions. Canada and Davos are tied for the most Spengler Cup titles with 16, though Canada hasn’t won since 2019. The 2020 and 2021 tournaments were cancelled due to the COVID-19 pandemic. This report by The Canadian Press was first published Dec. 12, 2024.

GOOGLE is ramping up its push into smart glasses and augmented reality headgear, taking on rivals Apple and Meta with help from its sophisticated Gemini artificial intelligence. The internet titan on Thursday unveiled an Android XR operating system created in a collaboration with Samsung, which will use it in a device being built in what is called internally “Project Moohan,” according to Google. The software is designed to power augmented and virtual reality experiences enhanced with artificial intelligence, XR vice-president Shahram Izadi said in a blog post. “With headsets, you can effortlessly switch between being fully immersed in a virtual environment and staying present in the real world,” Izadi said. “You can fill the space around you with apps and content, and with Gemini, our AI assistant, you can even have conversations about what you’re seeing or control your device.” Google this week announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date, as the world’s tech giants race to take the lead in the fast-developing technology. CEO Sundar Pichai said the new model would mark what the company calls “a new agentic era” in AI development, with AI models designed to understand and make decisions about the world around you. Android XR infused with Gemini promises to put digital assistants into eyewear, tapping into what users are seeing and hearing. An AI “agent,” the latest Silicon Valley trend, is a digital helper that is supposed to sense surroundings, make decisions, and take actions to achieve specific goals. “Gemini can understand your intent, helping you plan, research topics and guide you through tasks,” Izadi said. “Android XR will first launch on headsets that transform how you watch, work and explore.” The Android XR release was a preview for developers so they can start building games and other apps for headgear, ideally fun or useful enough to get people to buy the hardware. This is not Google’s first foray into smart eyewear. Its first offering, Google Glass, debuted in 2013 only to be treated as an unflattering tech status symbol and met with privacy concerns due to camera capabilities. The market has evolved since then, with Meta investing heavily in a Quest virtual reality headgear line priced for mainstream adoption and Apple hitting the market with pricey Vision Pro “spacial reality” gear. Google plans to soon begin testing prototype Android XR-powered glasses with a small group of users. Google will also adapt popular apps such as YouTube, Photos, Maps, and Google TV for immersive experiences using Android XR, according to Izadi. Gemini AI in glasses will enable tasks like directions and language translations, he added. “It’s all within your line of sight, or directly in your ear,” Izadi said. AFP

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