Redbox kiosks have been a familiar sight across the country since the first ones went into operation some 20 years ago.

But changing technology and the expansion of streaming services like Netflix and Disney+ have seen the DVD vending machines fall out of favor, and earlier this year Redbox’s parent company filed for Chapter 11 bankruptcy.

While some of Redbox’s 34,000 or so kiosks are still operational at places like CVS, Walgreens, Walmart, and Kroger, those businesses are now making plans to switch them off for good and get rid of them, the Wall Street Journal reported.

But the removal process isn’t as straightforward as you might imagine as the machines weigh a hefty 890 pounds and are often anchored onto a concrete base.

Still, that didn’t stop North Carolina resident Jacob Helton from acquiring his very own Redbox machine after he struck a deal with a contractor that had come to clear it from outside his local drugstore.

Helton told the Journal that he wanted the kiosk because “Redbox is important in the history of American media. Its collapse marks the end of the video rental era.”

Each Redbox kiosk can hold around 600 movie DVDs (they also offered games until 2019) and Helton plans to give away the ones in his machine and replace them with his own DVD collection.

Whether the kiosks are sent to the scrap yard or snapped up by enthusiasts like Helton, retailers will be keen to offload them at the earliest opportunity. Walgreens, for example, spends around $184,000 a month to power nearly 5,400 of the machines, and they’re taking up space that can be used for other facilities.

One removal company based in Alabama said it’s so far taken away nearly 50 of the kiosks and gathered around 20,000 DVDs for recycling, collecting up to $200 per removal and up to $70 for the scrap metal.

With so many machines still dotted around the country, and the removal process set to take some time, it’ll be a while yet before the iconic Redbox machines disappear entirely from the urban landscape.

Entertainment has moved sphere from being in-person to largely taking place in the online sphere due to the digital transformation the world has undergone in the past decade. This has reshaped how many industries engage with consumers, showcasing various ways to embrace technology. One sector which stands as a glorious example of embracing technological advancement is the online gaming sector. Since the early step of basic desktop software in the late 1900s, this sector has evolved into a highly advanced ecosystem of mobile apps, websites, live dealer environments, and immersive virtual worlds.

Technology is the heart of the online gaming experience, which is what is enabling the fully immersive online entertainment experience through interactive design of games and security frameworks for fairness and transparency. Technology will continue to reshape the online gaming platforms, evolving this innovative sector into a sector with more and more opportunities for consumers.

The building blocks of online gaming platforms

This article will delve into the building block of online gaming platforms, specifically focusing on online casino platforms, which relies on technological advancements to enable a smooth and satisfying experience for consumers. However, most of the technologies presented in this article are not only specific for online casino platforms but are used for other types of online gaming platforms as well.

Another building block of online gaming platforms, which is sometimes overlooked, is online reviews. Because even though technology is advanced and integrated into for example online casino platforms, the variety of platforms available is overwhelming and continuously increasing. This is why online casino reviews such as Snabbare Casino is crucial for consumers looking for the right platform. This site allows players to compare casinos based on features such as game selection, promotions, consumer reviews, etc. This is all useful information for players, to ensure that the site one chooses is not just based on the right technology, but also have an overall customer satisfactory profile.

Random Number Generations ensuring fairness

For online casinos, Random Number Generator (RNG) technology is at the heart. This technology ensures fairness and unpredictability in games, allowing games like slots, roulette, poker, and blackjack to be conducted without any cheating. RNGs are built on complex algorithms producing sequences of numbers corresponding to game outcomes. This can for example be for a spin of the reel in a slot game, or the deal of a card in a poker hand.

RNG is trying to mimic the sources of randomness from traditional casinos, where physical dice, cards, and spinning wheels are the tangible sources of randomness. This is why online gaming platforms rely on software-based RNGs to add the element of unpredictability which traditional casinos have. According to the Global Quantum Random Number Generator Market Report, the global RNG market size is projected to increase massively towards 2029, driven by the rising demand from the gaming sector. Due to the high demand for verifiable randomness and fairness, independent audits from organizations have increased, which certifies the RNG systems are tamper-proof and genuinely random.

Blockchain technology for transparency and security

The latest powerful force in the realm of online casinos is blockchain technology ensuring transparency and security. Online casino platforms can provide immutable, transparent record of transactions by using distributed ledger technology (DLT), and the record includes information such as deposits, withdrawals, and in-game outcomes. This fosters a high level of trust between operators and players.

The decentralized nature of blockchain technology makes it possible to eliminate vulnerabilities in gaming systems. Since the system is no longer built around a central point of control, the risk of hacking and tampering has been diminished, which increases the integrity of online casino platforms. Many online casino platforms have already incorporated blockchain technology to create provably fair games, which allows players to verify each game outcome.

Artificial Intelligence and Machine Learning for personalized user experiences

Both Artificial Intelligence (AI) and Machine Learning (ML) are redefining how online gaming platforms can interact with users. Such technologies analyze vast amounts of data, personalizing the user experience in various ways, from customizing gaming recommendations to offering personalized promotions. Customer service for online casino platforms has also been enhanced by leveraging AI-driven chatbots. This provides customers with instant round-the-clock support. Furthermore, AI algorithms are leveraged to identify patterns of behavior among customers, which can help detect fraud and problem gaming.

ML models are being used to assess a player’s activity, which makes it possible for online casino platforms to quickly identify unusual patterns. Sites can then flag potential issues and ensure compliance with responsible gaming regulations.

Cloud gaming and remote servers enhances scalability and performance

As more and more users join online casino platforms, scalability has become a buzzword of consideration. This is where cloud gaming has entered the picture: Cloud gaming offers gaming experienced without the need for high-end hardware, by offloading game computations to powerful remote servers. This means that consumers can play and enjoy a smooth gameplay with minimal lag, making the online casino experience smoother.

Online casino operators are also leveraging cloud infrastructure for the flexibility to scale up operations based on user demand, which results in more stable services during peak hours. Many large tech companies are supporting online casino operators to host operations on the cloud, which ensures both fast and reliable performance across geographic locations.

HTML5 is revolutionizing cross-platform compatibility

A major revolution within the online casino world has been the migration from computer-based services to mobile app services. Gone are the days when online gambling was restricted to desktop devices, or where it required downloads of heavy software. HTML5 technology has made it possible for game developers to create responsive cross-platform games, which can work seamlessly on any device.

HTML5-based games are also eliminating the need for plug-ins which used to be prone for security issues and compatibility problems. HTML5 ensures faster loading times, smoother animations, and a more secure gaming environment. Instead, this technology now offers a seamless transition between desktop and mobile gaming, which caters to the growing consumer demand for mobile-based entertainment. According to Newzoo, mobile gaming accounts for 49% of the 2024 global revenue of console game revenues, and a report by Statista found that mobile gaming revenue will reach USD 98.74 billion in 2024 worldwide. This increasing trend is especially a product of the flexibility and performance enhancement offered by HTML5 technology.

Future technological trends for online casinos to watch

The online casino sector, and the online gaming sector altogether, has already come far in technological advancements. However, the future looks even more promising with some interesting technological trends to watch out for.

Virtual Reality and Augmented Reality for immersive experiences

Online casino platforms have already come a long way when it comes to immersive experiences. However, both Virtual Reality (VR) and Augmented Reality (AR) technologies is a new frontier offering more opportunities. These technologies have the possibility to take immersion to a whole new level, where players can step into fully realized virtual environments.

Where VR can bring users into virtual environments as if they were physically present through invention such as VR headsets, AR can overlay game elements onto the real world. Adopting VR and AR by online casinos is still in the early stages, but this integration is projected to get more enhanced as the VR and AR market is expected to increase massively on a global scale.

Cryptocurrencies and Decentralized Finance

Many online casinos utilizing cryptocurrencies have already emerged, giving birth to the notion of ‘crypto casinos’. Here, cryptocurrencies like Bitcoin and Ethereum are accepted as payment methods, giving players an alternative to traditional fiat currencies. The more blockchain technology is being integrated into the gaming ecosystem, the more it is expected to see the rise of Decentralized Finance (DeFi) solutions, paving the way for smart contracts and tokenized assets to redefine the economics of online casino platforms and online gaming in general.

Decentralized gaming platforms make it possible for players to control and trade in-game assets across various games and platforms. It is cryptocurrency transactions that facilitate these movements. Such solutions would democratize gaming ecosystems even more, since players are incentivized to participate in the platform’s economy.

5G connectivity enhances mobile gaming

5G is a given in some regions of the world, but it is still an out-rolling connectivity source becoming more and more available to more people on a global scale. This is a hen-and-the-egg situation, as mobile gaming is on the rise, creating a higher demand for connectivity, while the increased connectivity from 5G is increasing the number of players engaging in mobile gaming. 5G is expected to grow even further, as it offers faster data transfer speeds, lower latency, and improved connectivity all around. As a result, the overall experience for mobile gamers will be enhanced.

The high quality of 5G is especially beneficial for high-definition game streaming, real-time multiplayer games, and live dealer games on the mobile, as all these formats rely on stable, fast, and seamless connectivity. According to a report by Qualcomm, the growth trajectory of sales enabled by 5G is projected to reach USD 13.1 trillion by 2035, in which the mobile gaming market will make up a significant portion of this number.

Concluding remarks

With rapid technological advancements, the online gaming industry, and the online casino sector specifically, has seen great changes and enhanced user experiences. RNG technology, blockchain technology, AI, cloud gaming, and HTML5 are all important technological features enabling the online entertainment wave that is covering the world.

The technological future is also looking bright with emerging technologies such as VR, AR, 5G, and DeFi showing potential to being integrated into the online casino sector for even more immersive experiences for players.

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The head of Xbox Game Studios Alan Hartman is set to retire at the end of November, marking an end to 30 years working at Microsoft. Appointed to succeed him is Craig Duncan, the studio head of Rare, which was acquired by Microsoft in 2002. To fill in for Duncan’s eventual departure from the studio, Joe Neate and Jim Horth will take over as co-leads of Rare, as seen in an internal memo seen by The Verge:

Interestingly, Hartman had only had his job as head of Xbox Game Studios for less than a year. Hartman led Forza Motorsport developer Turn 10 for almost two decades before being last year. His retirement is somewhat surprising, but since it’s not due to any controversies in the company, it’s likely just a case of him wanting to retire from 30 years at Microsoft.

This change of heads comes about a month after Microsoft . These layoffs are related to its decision in 2022 to acquire . While no games are canceled, this change of heads may signify a shift in Xbox Game Studios’ future plans.

In 2022, Deloitte expected that the global semiconductor industry would need to add a million skilled workers by 2030, or more than 100,000 annually. Two years later, that forecast still holds.

But key industry trends continue to compound the talent challenge as the industry races toward $1 trillion in revenue by 2030, according to a new report by Deloitte, the accounting and consulting giant.

The company said that advanced skills driven by demand for Generative AI (GenAI) mean that the talent needed for advancing technologies is often in high demand and can be difficult to attract and retain in a competitive talent market. The report’s timing is interesting, considering the U.S. is reportedly considering limiting sales of AMD and Nvidia AI chips aboard.

The semiconductor industry is facing an aging workforce without a clear plan for succession, which may be further exacerbated by low industry appeal compared to the broader tech industry. I suppose this is because the chip industry isn’t as sexy as working for AI or social media companies.

Global solutions needed for a global challenge

Localization of manufacturing, as well as overall global demand trends, is contributing to a talent and skills shortage that spans the globe. Semiconductor companies are often left competing over the same insufficient pool of existing talent.

And talent outcomes are tied to global chips laws. Both the U.S. and European chips legislation include specific objectives and grant application requirements regarding workforce development that companies should commit to in order to receive funding, remain in compliance, and achieve growth objectives.

Geopolitical concerns and supply chain fragility continue to contribute to the onshoring of manufacturing (advanced node, trailing node, memory) and back-end ATP (assembly, test, and packaging) processes.

A history of cycles

The cyclical chips industry experienced its seventh downturn since 1990, with revenues declining 9% to $520 billion for 2023. As a result, development of some new fabrication capacity has been extended, which has also likely delayed some of the immediate, short-term need for talent.

This downturn is expected to be temporary, with revenue set to grow by 16% in 2024 to an all-time high of $611 billion. With the industry back on track to reach the $1 trillion figure for 2030, talent will be needed to fuel that growth. But now there’s more time to optimize talent forecasts, mix, pipeline, skills and capabilities, and development plans.

A richer understanding of the challenges driving the semiconductor talent shortages can enable semiconductor leaders to deploy targeted strategies to help address their looming talent needs.

Advanced skills being driven by demand for GenAI

According to Deloitte’s 2023 Smart Manufacturing: Generative AI for Semiconductors Survey, 72% of industry leaders surveyed predict that GenAI’s impact on the semiconductor industry will be “high to transformative.”

Respondents saw high potential for Generative AI’s use throughout their business, with heavier value realization expectations within core engineering, chip design and manufacturing, operations, and maintenance.

Although GenAI may help alleviate some engineering talent shortages by addressing routine tasks and giving engineers more time to perform their core jobs better and faster, the GenAI skill set scarcity remains.

The semiconductor workforce is expected to need to exponentially grow its GenAI skill sets due to their shortage in the market. And leaders in the field are often in high demand across most sectors of
the economy. Semiconductor companies should consider offering more novel benefits beyond competitive compensation, such as having a seat at the table, to better attract AI talent and leadership.

Having proficient GenAI talent is key in driving the industry’s ability to innovate and reap the benefits of this transformative technology.

Looming talent cliff and low industry appeal

An aging workforce, regulatory changes, newly required skill sets, and shifting employee expectations are changing the landscape of semiconductor talent. The lack of brand awareness and appeal in the semiconductor industry compared to better-known technology brands can make addressing these challenges more difficult for the industry.

Semiconductor companies seem to recognize that attracting and retaining new and diverse talent is more important than ever, yet it continues to be a challenge for many organizations. Building diversity can be difficult; currently only one-third of the U.S. semiconductor industry employees identify as female and less than 6% as Black or African American.

The U.S. semiconductor workforce is also older than other technology industries: As of July 2024, 55% of the U.S. semiconductor workforce is 45 or older, with less than 25% under the age of 35.11 In Europe, 20% of the industry is 55 or older, with Germany expecting about 30% of their workforce to retire over the next decade.

Inconsistent knowledge management, and the lack of new talent to adopt institutional knowledge, presents an additional workforce barrier for many semiconductor companies.

Relative to other sectors of the technology industry, semiconductor organizations can offer a sense of trust, stability, and projected market growth—attractive qualities to the most recent college entrants.

While semiconductor companies may have struggled with brand recognition and a competitive employee value proposition, investing in recent high school graduates could help reinvigorate talent pipelines that may be more attracted to stability and flexibility over rapid advancement.

A global shortage

The need for semiconductor talent is a global issue. Countries are not producing enough skilled talent to meet their workforce needs. And companies can’t continue to tussle over the same finite talent pool while still expecting to successfully grow the industry, launch new (and expand existing) fabs, and keep up with rapid technological advances.

In the United States, where the majority of annual graduates with a master’s degree in semiconductor-related engineering fields are foreign students, 80% of those graduates do not stay in the United States post-graduation.

According to Deloitte China and Asia Pacific’s most recent APAC Semiconductor Industry Trends Survey, 90% of companies surveyed highlighted talent acquisition and development as a top priority to sustain industry growth and competitiveness, while 63.3% highlighted talent capability and retention as major industry risks.18 As Asia looks to expand its semiconductor industry beyond key historical players, significant shortages can also be expected.

For example, India’s semiconductor industry is looking at a potential deficit of 250,000 to 300,000 professionals by 2027.19 For the European Union to achieve its goal of doubling its market share by 2030, an ambition set in the European Chips Act, it is estimated that the industry will need 400,000 additional workers.

Meanwhile, in the United States, the Semiconductor Industry Association estimates that of the more than 100,000 new industry jobs in manufacturing and design expected by 2030, 67,000 are at risk of going unfilled.

Talent outcomes tied to global chips laws

For companies applying for, or having received, U.S. CHIPS and Science Act funding, their workforce strategy, planning, development, and activation can be critical components for both grant eligibility and ongoing compliance. Funding opportunities require a clearly documented workforce strategy, commitments to training programs in concert with state and local educational entities, and expanded education and employment opportunities for economically disadvantaged individuals.

For the European Chips Act, applicants are asked to include information on their plans to invest in education, skills, and pipeline development, including differentiating between their normal workforce training activities and those targeting specific industry needs in the region.23 As funding continues to be released, and fab expansion ramps up, the need for construction and facilities employees are expected to grow, further challenging the already constrained talent market.

Repatriation of manufacturing and back-end processes Localization of manufacturing and regionalization of supply chains are compounding the semiconductor talent shortage. And there have been communications that talent challenges are contributing to delays in opening new plants.

Seeking to increase their individual shares of overall chip manufacturing from 10% to 20%, the United States and Europe have already allocated nearly $100 billion in government funding. For advanced node manufacturing specifically, Asia—predominantly Taiwan—continues to lead globally with well over 80% of the market share.26 The United States is expected to increase its advanced node manufacturing share to 22% by 2027.

Europe is also looking to increase its market share through the European Semiconductor Manufacturing Company (ESMC), a joint investment by several semiconductor companies with the goal of bringing advanced node manufacturing to Europe.

In Asia, there is also investment to increase manufacturing outside of Taiwan. Japan has committed $13 billion to reinvigorate manufacturing in the region, including funds to support a joint venture founded
in 2022 between several major Japanese companies with the goal of mass-producing the most leading-edge chips.

Malaysia, already strong in testing and packaging, is looking to invest more than $100 billion to increase its design, advanced packaging, and manufacturing capabilities.31 India has also approved more than $15 billion in investments to expand manufacturing capabilities in the country’s growing industry.

Even with recent announcements of ATP capacity in Poland and Arizona, more than 80% of all ATP capacity still resides in Asia, creating long and often fragile supply chains. Without additional investments beyond the current US and European Chips Acts, the lack of ATP capacity outside of Asia could continue impeding U.S. and European goals of semiconductor manufacturing self-sufficiency.

The United States and Europe should invest in increasing their ATP capacities and work to develop and attract the necessary skilled talent.

Geopolitics rears its head

The evolving and complex geopolitical landscape is likely to further affect the availability of talent supply globally and may continue to introduce artificially created imbalances, Deloitte warned. The United States has not only restricted export of advanced node AI chips and chipmaking equipment, but also limits US persons from performing work for certain Chinese chipmakers without special licensing.36 In addition, the US government is working with allies across Europe and Asia to similarly control their exports to China.37 To counteract, China has been aggressively recruiting expatriate talent—and is continuing to do so with high salaries, free homes, and more—creating a potentially more appealing job market compared to other semiconductor markets.

While the onshoring or reshoring of manufacturing can be critical to supply chain security, there are also benefits through “friendshoring”—partnering with suppliers from friendly countries— to provide more stability, while also increasing economic resilience of the global supply chain.39 One example of this “friendshoring” can be found in the economic alliance between the United States and Japan to reduce reliance on single suppliers and stabilize the supply of essential electrical components. This means adding production in places where it does not exist today, requiring talent with the right skills to help meet new capacity demands.

Solutions?

Deloitte said that to help mitigate the challenges outlined above and create new opportunities, semiconductor companies—and the industry as a whole—should consider these priorities across workforce planning and access; workforce skills, development, and retention; and technology enablement:

Workforce planning and access: Companies should enable agile workforce planning by implementing talent strategies with a workforce mix that can help address their immediate operational needs while also allowing them to adjust to market fluctuations. And, in addition to improving brand marketing and job attractiveness to better recruit talent, semiconductor companies should have comprehensive pipeline development and recruiting strategies. These should be defined and implemented in coordination with other semiconductor companies, educational institutions, and industry and community organizations, prioritizing underrepresented populations for a more comprehensive global solution.

Workforce skills, development, and retention: A right-skilled workforce starts with a skilled pipeline. While the pipeline is under development, companies should have a comprehensive view of their current skills and gaps, strategic knowledge management tools and processes, and flexible upskilling/reskilling programs that can allow for career path flexibility strategies and solutions as technology advances and skills requirements change.

Semiconductor companies can improve industry appeal and talent retention through a shared value proposition with an attractive and supportive culture, total rewards strategy, and comprehensive DEI (diversity, equity, and inclusion) and sustainability strategies. More clearly defined and attainable career paths can also help improve brand perception and meet the expectations of today’s workforce.

Technology enablement: HR organizations should have the capabilities, tools, technology, and data insights to assess their organizations’ workforce supply, demand, and current and projected spend—enabling successful implementation of enterprise workforce strategies. With AI-enabled tools that span the talent life cycle, capabilities such as complex workforce scenario modeling can be more effectively leveraged. Changing workforce technologies also require comprehensive change management strategies to upskill employees, increase adoption, and optimize technological capabilities.

Workforce planning and access

To better attract new talent as opposed to continuing to compete for the same existing talent pool, the semiconductor industry should increase efforts to develop viable and long-lasting talent pipelines—including identifying and accessing more diverse and underrepresented talent—and address the lack of industry appeal.

While there are company- and region-specific efforts to address semiconductor talent challenges, there currently is no comprehensive industrywide approach designed to address these issues while also providing long-term talent stability for the industry.

Workforce planning strategies

Workforce planning and talent strategies should enable optimal ways of working through a data-driven approach to innovation and human-centered solutions. Talent mix strategies should identify and leverage a diverse workforce mix across build, buy, and borrow models to help fill short- and long-term talent needs within target functions.

To optimize their workforce planning, semiconductor companies should leverage the industry’s robust ecosystem of partners—including trade organizations, educational institutions, and nonprofits—to act holistically and better address the global talent pipeline shortages.

They should also be mindful of talent integration across vastly different corporate cultures as companies expand their global footprint. When talent integration isn’t managed in a deliberate fashion, long-term retention can be at risk, potentially wasting pipeline development and talent attraction efforts.

And Deloitte said they should address the lack of industry awareness and appeal through targeted marketing using a variety of media to help reach new and underrepresented populations and across adjacent industries. A publicly marketed value proposition can focus on global sustainability and reduced environmental impact, technological innovation, and creation of shared economic and social value— all of which can be very attractive to new talent.

And they should increase investment in younger generations, as well as underrepresented populations, as targets for roles outside of traditional four-year education programs. Multiple semiconductor companies, as well as government and educational institutions, have already implemented training programs aimed at developing semiconductor facility technicians, Deloitte said.

Workforce skills, development, and retention

Workforce strategies and career models should target specific skill development, increase workforce agility and mobility, and improve job appeal—with the goal of prioritizing needed capacity, addressing the aging workforce, and better attracting and retaining talent for long-term sustainability. Attracting a talent pipeline and retaining talent once onboard should be supported by a robust DEI strategy, total rewards strategy, and culture-to-values alignment to help improve workforce agility and mobility.

Companies should have a shared value proposition with their employees that can both enable business objectives and support personal growth and priorities. Understanding existing talent skill sets using market intelligence can identify skills gaps that are often exacerbated by rapid market growth. Building a talent strategy around a skills-based organization can match talent gaps with adjacent-skilled workers who can be great candidates for upskilling or reskilling.

Companies should also integrate internal supply and demand data with external staffing procurement to make better-informed talent decisions.

They should utilize workforce data integration to remove manager bias evaluating the full-time/contingent/gig worker mix, helping to couple talent decisions with the overall business strategy. Firms should leverage workforce planning and modeling to help improve workforce planning, management, and efficiency.

Industry should address skills gaps through targeted solutions such as upskilling existing manufacturing and design talent or prioritizing specific pipeline segment development. They should identify adjacent skill sets, as workers may already possess skills that they may not be using today but can be fast-tracked to take on roles within semiconductor design and advanced manufacturing processes.

It’s also important to invest in regional cross-training and upskilling advanced node fabrication talent, creating a more flexible talent pool and broader career path options. And companies should create comprehensive knowledge management tools and processes to improve organizational skills retention, Deloitte said.

Technology and HR enablement

As business leaders contend with new technology, it’s important to understand the pulse of adoption and how to accelerate engagement, change management, and upskilling of the workforce. This can be especially true with advanced AI capabilities, which can augment talent and generate significant value.

AI can be used as an integral part of talent acquisition and management, providing insights such as quantifying the potential impacts of AI on human roles or modeling complex workforce scenarios to drive strategic talent decision-making. Skills-based job architectures can be analyzed for opportunities to increase capabilities and efficiencies using AI, consolidating workforce gaps and reducing the total workforce spend.

Additionally, bringing technology and AI into workforce planning can help enable actionable plans for addressing skills-gap hotspots, identifying hiring and internal mobility target areas, and defining upskilling and reskilling opportunities. Deploying predictive analytics via AI-enabled tools to better forecast retention, performance, and longevity can optimize talent acquisition pipelines and internal
mobility, leading to more clearly defined and attainable career paths.

The semiconductor industry is at an inflection point: Revenue is forecasted to reach $1 trillion by 2030,
but the industry continues to face widespread talent challenges, as outlined above. It is important that
semiconductor companies look holistically across their current maturity, capabilities, and pain points to develop talent roadmaps enabled by robust technology solutions.

Cyber risk has become an increasingly important issue for small companies around the world. While many companies try to avoid and mitigate cyber risks, they rarely discuss transferring those risks to a third party.

That’s why Stoïk is stepping in with a cyber insurance product specifically designed for small and medium-sized businesses. The French startup recently raised a €25 million Series B round (around $27 million at current exchange rates).

In many ways, Stoïk follows in the footsteps of Coalition or At-Bay. However, instead of selling its insurance products to U.S.-based companies, Stoïk focuses exclusively on European companies.

Once insured by Stoïk, businesses receive coverage in the event of a cybersecurity-related claim. For instance, if a company needs to halt production or temporarily close due to a cyber incident, Stoïk can compensate for loss of revenue (gross operating margin) during that period.

Stoïk currently covers companies with an annual turnover of €750 million or less with coverage limits of €7.5 million. At present, the company operates in France, Germany and Austria.

The startup chose this particular vertical because cyber insurance is more complex than other types of insurance products. For instance, Stoïk has built a small in-house crisis management team to respond to incidents and assist with data recovery and crisis communication.

“Since the beginning of the week, we’ve had a dozen attacks on our portfolio, including a major one,” co-founder and CEO Jules Veyrat told TechCrunch last week. “We have people mobilized in the Lyon region for a ransomware attack that brought an industrial company to a standstill.”

When customers sign up, they receive an overview of their cyber risk exposure. The startup monitors DNS records and scans online databases for password leaks associated with this domain name. Stoïk can also perform internal scans to recommend changes to cloud and active directory configurations.

“Our thesis is that we’re going to insure companies. On top of that, we’re going to help them better protect themselves against cyberattacks. That way, they’re happy, they get more for the same price. And we’re happy, because we have policyholders who are well protected, and therefore have fewer claims than others,” Veyrat said.

There are still some similarities with the insurance industry at large. Like other insurance companies, Stoïk has to ensure it doesn’t accept too many bad apples in its portfolio of clients, as this could significantly impact the company’s loss ratio.

“The insurers’ job is to select the risk. So, who do I accept and under what conditions? How well do they understand cyber?” Veyrat said. “In other words, am I willing to take on a €50 million industrial company that has no offline backup strategy? This is just an example, but these are the questions we ask ourselves every day.”

Stoïk acts as Managing General Agent (MGA), meaning that it works with insurance and reinsurance companies so that they cover the risks. Stoïk gets to create its own rates, products and policies — but it outsources the risk to bigger insurance companies.

One such partner is Tokio Marine HCC International, which is the only new investor in the Series B funding round. The rest of the round is made of existing investors. Alven is leading the Series B with Andreessen Horowitz, Munich Re Ventures, Opera Tech Ventures and Anthemis also participating.

Stoïk doesn’t sell its insurance products to its customers directly. Instead, it works with third-party insurance brokers that already have a relationship with SMBs. So far, Stoïk has attracted 1,000 insurance brokers.

By the end of 2024, Stoïk should have 5,000 policyholders. It represents €25 million in premiums. Stoïk plans to ramp up customer signups in the future. In the future, the startup expects to expand into a new country every year starting with a first new European market in late 2024 or early 2025.

Today I am sharing news regarding leadership changes within our team. After more than 30 years at Microsoft, Alan Hartman is retiring at the end of November. 

Alan’s career has been marked by innovation, dedication, and an unwavering passion for gaming. Starting as a contractor at Microsoft in the fledgling CD-ROM group in 1988, Alan has worked on a variety of projects in his time here, from Age of Empires, to Brute Force as the studio head of Digital Anvil, to the founding of Turn 10. Over the years, Alan, Turn 10 and Playground Games delivered 13 Forza Motorsport and Forza Horizon games, building Forza into one of the top racing franchises in the world and regularly pushing the capabilities of our hardware. His work to advance accessibility in gaming has set a benchmark for the industry and under his leadership, Xbox Game Studios has shipped multiple critically acclaimed titles this year and set the stage for highly anticipated games like Avowed, South of Midnight, Fable, and more. 

When seeking our next leader to navigate the complexities of our business and foster the creativity needed for our games to thrive, we collaborated with HR to evaluate both external and internal candidates, considering the unique demands of the XGS role.

I am pleased to announce that Craig Duncan will assume the role of Head of Xbox Game Studios. Craig brings a wealth of experience from his tenure at Codemasters, Midway Games, and Sumo Digital before joining Xbox in 2011 to lead Rare. During this time, Rare has achieved sustained business success and developed new IP, most notably the ever-evolving Sea of Thieves, a cross-platform franchise with over 40 million players.

In his new role, Craig will continue to focus on helping our studios deliver high-quality, differentiated game experiences that can grow into successful franchises and reach more players by investing in new IP. Craig will report to me and join the Game Content and Studios leadership team, working closely with Alan during the transition. The existing XGS leadership team Alan established will remain intact and report to Craig. 

I am also pleased to announce that Joe Neate and Jim Horth will take over as co-leads of Rare. Their leadership has played a crucial role in Rare’s growth, and I am confident they will elevate the studio and its games to even greater heights.

Please join me in congratulating Alan on his retirement and welcoming Craig, Joe, and Jim into their new roles.

Matt