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Some startups are going ‘fair source’ to avoid the pitfalls of open source licensing

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Some startups are going ‘fair source’ to avoid the pitfalls of open source licensing

With the perennial tensions between proprietary and open source software (OSS) unlikely to end anytime soon, a $3 billion startup is throwing its weight behind a new licensing paradigm — one that’s designed to bridge the open and proprietary worlds, replete with new definition, terminology, and governance model.

Developer software company Sentry recently introduced a new license category dubbed “fair source.” Sentry is an initial adopter, as are some half dozen others, including GitButler, a developer tooling company from one of GitHub’s founders

The fair source concept is designed to help companies align themselves with the “open” software development sphere, without encroaching into existing licensing landscapes, be that open source, open core, or source-available, and while avoiding any negative associations that exist with “proprietary.”

However, fair source is also a response to the growing sense that open source isn’t working out commercially.

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“Open source isn’t a business model — open source is a distribution model, it’s a software development model, primarily,” Chad Whitacre, Sentry’s head of open source, told TechCrunch. “And in fact, it places severe limits on what business models are available, because of the licensing terms.”

Sure, there are hugely successful open source projects, but they are generally components of larger proprietary products. Businesses that have flown the open source flag have mostly retreated to protect their hard work, moving either from fully permissive to a more restrictive “copyleft” license, as the likes of Element did last year and Grafana before it, or ditched open source altogether as HashiCorp did with Terraform.

“Most of the world’s software is still closed source,” Whitacre added. “Kubernetes is open source, but Google Search is closed. React is open source, but Facebook Newsfeed is closed. With fair source, we’re carving a space for companies to safely share not just these lower-level infrastructure components, but share access to their core product.”

Sentry's head of open source Chad Whitacre
Sentry’s head of open source Chad Whitacre.
Image Credits: Sentry

Fair play

Sentry, an app performance monitoring platform that helps companies such as Microsoft and Disney detect and diagnose buggy software, was initially available under a permissive BSD 3-Clause open source license. But in 2019, the product transitioned to a business source license (BUSL), a more restrictive source-available license initially created by MariaDB. This move was to counter what co-founder and CTO David Cramer called “funded businesses plagiarizing or copying our work to directly compete with Sentry.”

Fast forward to last August, and Sentry announced that it was making a recently acquired developer tool called Codecov “open source.” This was to the chagrin of many, who questioned whether the company could really call it “open source” given that it was being released under BUSL — a license that isn’t compatible with the Open Source Initiative’s (OSI) definition of “open source.”

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Cramer swiftly issued an apology, of sorts, explaining that while it had erroneously used the descriptor, the BUSL license adheres to the spirit of what many open source licenses are about: Users can self-host and modify the code without paying the creator a dime. They just can’t commercialize the product as a competing service.

But the fact is, BUSL isn’t open source.

“We sort of stuck our foot in it, stirred the hornet’s next,” Whitacre said. “But it was during the debate that followed where we realized that we need a new term. Because we’re not proprietary; and clearly, the community does not accept that we’re open source. And we’re not open core, either.”

Those who follow the open source world know that terminology is everything, and Sentry is far from the first company to fall in its (mis)use of the established nomenclature. Nonetheless, the episode sparked Adam Jacob, CEO and co-founder of DevOps startup System Initiative, to challenge someone to develop a brand and manifesto to cover the type of licenses that Sentry wanted to align itself with — similar to what the OSI has been doing for the past quarter century with open source, but with a more commercially attractive gradient.

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And that was what led Sentry to fair source.

For now, the main recommended fair source license is the Functional Source License (FSL), which Sentry itself launched last year as a simpler alternative to BUSL. However, BUSL itself has also now been designated fair source, as has another new Sentry-created license called the Fair Core License (FCL), both of which are included to support the needs of different projects.

Companies are welcome to submit their own license for consideration, though all fair source licenses should have three core stipulations: It [the code] should be publicly available to read; allow third parties to use, modify, and redistribute with “minimal restrictions“; and have a delayed open source publication (DOSP) stipulation, meaning it converts to a true open source license after a predefined period of time. With Sentry’s FSL license, that period is two years; for BUSL, the default period is four years.

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The concept of “delaying” publication of source code under a true open source license is a key defining element of a fair source license, separating it from other models such as open core. The DOSP protects a company’s commercial interests in the short term, before the code becomes fully open source.

However, a definition that uses vague subjectives such as “minimal restrictions” can surely cause problems. What is meant by that, exactly, and what kinds of restrictions are acceptable?

“We just launched this a month ago — this is a long play,” Whitacre said. “Open source [the OSI definition] has been around for 25-plus years. So some of this is open for conversation; we want to see what emerges and pin it down over time.”

The flagship fair source license follows a similar path to that of “source available” licenses before it, insofar as it has noncompete stipulations that prohibit commercial use in competing products. This includes any product that offers “the same or substantially similar functionality” as the original software. And this is one of the core problems of such licenses, according to Thierry Carrez, general manager at the Open Infrastructure Foundation and board member at the Open Source Initiative: Much is open to interpretation and can be “legally fuzzy.”

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“Fair source licenses are not open source licenses because the freedoms they grant do not apply to everyone; they discriminate based on legally fuzzy noncompete rules,” Carrez said. “So, widespread adoption of those licenses would not only create legal uncertainty, it would also significantly reduce innovation going forward.”

Moreover, Carrez added that there is nothing preventing the terms in fair source licenses from changing in the future, highlighting the problem of a license controlled by a single entity.

“There are two approaches to software development: You can have a proprietary approach, with a single entity producing the software and monetizing it; or you can have a commons approach, where an open ecosystem gathers around producing software and sharing the benefits of it,” Carrez said. “In the proprietary approach, nothing prevents the single copyright-holder from changing the terms of the deal going forward. So the exact terms of the license they happen to currently use do not matter as much as the trust you put in those companies to not change them.”

In many ways, fair source is simply an exercise in branding — one that allows companies to cherry-pick parts of an established open source ethos that they cherish, while getting to avoid calling themselves “proprietary” or some other variant.

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Amanda Brock, CEO of U.K. open source advocacy body OpenUK, said that while it’s “great to see people simply being honest that [their software] is not open source,” she suggested that this new category of license might just complicate matters — particularly as there are already well-established names for this kind of software.

“We must shift thinking to consider three categories of software not two; OpenUK has been advocating for some time that we do this,” Brock told TechCrunch. “Within open source, we call the category that is proprietary with source that is public, as ‘source available’ or ‘public source.’ It is any code that makes [the] source [code] available, and which is distributed on a license that does not meet the open source definition.”

Git commit

Scott Chacon
Scott Chacon
Image Credits: Scott Chacon (opens in a new window)

Scott Chacon, who lays claim to being one of GitHub’s four founders and served as its chief information officer before his departure in 2016, launched a new Git-focused startup called GitButler at the start of 2023. He went through a whole gamut of licensing considerations, including fully proprietary, before settling on FSL and publicly proclaiming his support of the fair source movement.

“We are still somewhat unsure what our final business model will be, exactly, and want to retain our options,” Chacon told TechCrunch. “We know that if a company releases under an OSS license and then needs to relicense under something more restrictive in order to make their business work, there is an understandable outcry from the community.”

And that gets to the crux of the issue for many businesses today. Sure, everyone loves open source, but with all the backpedaling, startups today are hesitant to go all in and then risk the ire of the global community by having to change course.

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“We liked the fact that it [BUSL / FSL-style license] is eventually open source, under an MIT license, but it gives us some air cover while we’re investing so heavily in it,” Chacon said. “We want to be able to protect our employees and our investors while giving our users as much access and freedom as possible.”

GitHub is actually a good jumping-off point for discussing the fair source movement. The Microsoft-owned code-hosting platform is central to open source software, and GitHub has open-sourced several of its own internal tools through the years. However, GitHub itself isn’t open source. Former GitHub CEO Tom Preston-Werner wrote about this very matter back in 2011, waxing lyrical about the virtues of open source while describing things that should be kept back. “Don’t open source anything that represents core business value,” he wrote.

And it’s this approach that Chacon is taking into his latest venture.

“My philosophy is to open source everything that you don’t mind, or even prefer, for your competitors to use,” he said. “I think that if fair source was a thing 15 years ago, we may have made the GitHub source public then under a license like that.”

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Other businesses to join the early fair source fervor include YC-alum CodeCrafters; PowerSync; Ptah.sh; and Keygen, whose founder Zeke Gabrielse is actually partnering with Whitacre to handle governance around new fair source applications.

“Our governance at this point is scaled to the size of the initiative, so it’s myself and Zeke, our decision-making is public on GitHub, and anybody’s free to jump in,” Whitacre said, adding that there could be scope to set up independent oversight in the future — though it’s not a priority right now.

“We’re really just planting the seed, and seeing where it goes,” Whitacre said. “It’s a long play, so we’ll evolve the structure along the movement.”

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Google Pixel Watch 3 vs. Pixel Watch: Is it upgrade time?

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Google Pixel Watch 3 vs. Pixel Watch: Is it upgrade time?

It’s been two years since Google burst into the smartwatch market, and that means we’ve seen a few upgrades since Google launched the very first Google Pixel Watch. If you’re still using that watch, you may wonder if now is the time to upgrade and whether the third-generation Pixel Watch 3 is worth it. Or you may be getting your first smartwatch and considering buying either a cheap first-generation Pixel Watch or the latest and greatest of Google’s wearables.

Choosing between these two devices is surprisingly easy. Sometimes, the newest is the best, and this is the case with the Pixel Watch 3. However, there’s a significant price difference, so is the Pixel Watch still worth buying? Let’s examine the differences to help determine which you should pick, and explain why now is the best time to upgrade from the original Pixel Watch.

Google Pixel Watch 3 vs. Google Pixel Watch: specs

Google Pixel Watch 3 Google Pixel Watch
Display 45mm: 1.4-inch

41mm: 1.2-inch

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Always-On Display

Up to 1,000 nits

1.2-inch

Always-On Display

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Resolution and brightness 45mm: 456 x 456 pixels (320 pixels per inch)

41mm: 408 x 408 pixels (~320 ppi density)

450 x 450 pixels (320ppi)

Up to 1,000 nits

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Dimensions and weight 45mm: 45 x 45 x 12.3 mm (1.77 x 1.77 x 0.48 inches)

37 grams (without band)

41mm: 41 x 41 x 12.3 mm (1.61 x 1.61 x 0.48 inches)

31 grams (without band)

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41 x 41 x 12.3 mm (1.61 x 1.61 x 0.48 inches)

36 g (without band)

Processor Qualcomm W5 Gen 1 Samsung Exynos 9110 SoC
Storage & RAM 32GB eMMC, 2GB RAM 32GB eMMC, 2GB RAM
Battery 45mm: 420mAh

41mm: 307mAh

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2.5W charging using a dedicated USB-C to magnetic puck charger

294mAh

2.5W charging using a dedicated USB-C to magnetic puck charger

Software Wear OS 5.0 Wear OS 3.5
Sensors Compass
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Altimeter

Red and infrared sensors for oxygen saturation (SpO2) monitoring

Multipurpose electrical sensors compatible with the ECG app

Multi-path optical heart rate sensor

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Accelerometer

Gyroscope

Ambient light sensor

Electrical sensor to measure skin conductance (cEDA) for

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Body response tracking

Skin temperature sensor

Barometer

Magnetometer

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Compass

Altimeter

Blood oxygen saturation (SpO2) monitor

Multipurpose electrical sensors compatible with the ECG app

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Optical heart rate sensor

Accelerometer

Gyroscope

Ambient light sensor

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Connectivity 4G LTE (LTE models only)  and UMTS

Bluetooth 5.0

Wi-Fi 802.11 b/g/n 2.4GHz

NFC

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GPS

GLONASS

BeiDou

Galileo

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Quasi-Zenith Satellite

4G LTE (LTE models only)  and UMTS

Bluetooth 5.0

Wi-Fi 802.11 b/g/n 2.4GHz

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NFC

GPS

GLONASS

BeiDou

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Galileo

Materials and durability 100% recycled aluminum shell

Soft-touch polymer Active band

Gorilla Glass 5 over display

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IP68 rating (50 meters or 5ATM)

80% recycled stainless steel shell

Soft-touch polymer Active band

Gorilla Glass 5 over display

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IP68 rating (50 meters or 5ATM)

Colors Matte black aluminum case, obsidian Active band

Polished silver aluminum case, porcelain Active band

Matte hazel aluminum case, hazel Active band

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Matte black stainless steel case, Obsidian Active band

Polished silver stainless steel case, Charcoal Active band

Polished silver stainless steel case, Chalk Active band

Champagne gold stainless steel case, Hazel Active band

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Price From $349 From $350

Google Pixel Watch 3 vs. Pixel Watch: design and display

A demonstration of the new running features for the Google Pixel Watch 3 in the Fitbit app.
Joe Maring / Digital Trends

Put the Pixel Watch 3 and Pixel Watch alongside each other, and aside from the size, it’s difficult to tell the difference. Google’s design language hasn’t changed a huge amount in three generations, and the minimalist look is attractive and works with most outfits.

The Pixel Watch 3 is the first of Google’s smartwatches to come in two sizes. The smaller 41mm size is identical to the original but 5 grams lighter, while the bigger 45mm version is just 1 gram heavier than the original. The larger size is ideal if you have bigger wrists or find the original Pixel Watch too small for daily use.

The new AMOLED-LTPO display gives the Pixel Watch 3 display a big upgrade over previous generations. Both sizes get the upgrade, which offers a variable refresh rate of 60Hz and shrunken bezels to maximize the screen real estate.

The apps page on the Google Pixel Watch 3.
Joe Maring / Digital Trends

The display represents a significant upgrade in legibility, but otherwise, these two watches share the same physical traits. Domed Gorilla Glass displays provide protection, a rotating bezel allows you to scroll and select — a feature sorely missing from the new Samsung Galaxy Watch Ultra — and the same lug-style watch band system lets any Pixel Watch band work with the third-generation model.

Each watch has the same 5ATM water resistance, which provides protection when submerged up to 500 meters, and a suite of sensors on the rear. The Pixel Watch 3’s sensors are improved over the original’s, and they have a different design, but otherwise, these two watches share many similarities.

Google Pixel Watch 3 vs. Pixel Watch: health, fitness, sensors

Someone wearing the Google Pixel Watch 3.
45mm Pixel Watch 3 Joe Maring / Digital Trends

The Pixel Watch 3 shares the same sensors as last year’s Pixel Watch 2, which saw Google improve the accuracy of the data collected. The heart rate sensor is one of the most accurate on any smartwatch and one of the many hardware sensors that are improved over the original.

The Pixel Watch 3 adds a thermometer and skin conductance sensors, which provide valuable insights into your skin temperature while asleep and are used for cycle tracking. There’s also a new light sensor, barometer, gyroscope, and the pulse oximeter used for the new Loss of Pulse Detection feature.

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The 45mm and 41mm Google Pixel Watch 3 models next to each other.
Joe Maring / Digital Trends

This feature is designed to get you help when you need it most. Most smartwatches offer a fall detection feature that will get you emergency help if you have a fall, but Loss of Pulse Detection takes things much further. If your Pixel Watch 3 fails to detect a pulse, it’ll undergo a further check to rule out a false negative and, failing that, contact emergency services. It’s only available in certain EU countries, but it’s a worthy reason to upgrade to the Pixel Watch 3.

The Pixel Watch 3 also adds new Cardio Load and Target Load features, a Daily Readiness score, and a Morning Briefing that gives you pertinent information on your health and sleep. The two Load features are designed to track your heart’s performance over the day (and longer) and give you a numerical understanding of your cardiac function. The Target Load feature then sets a daily goal to aspire to, ensuring you won’t overtrain or undertrain.

Someone wearing the Google Pixel Watch 3.
Joe Maring / Digital Trends

All of this information is presented in the Fitbit Premium app. Certain features, like the Daily Readiness score, required a Fitbit Premium subscription, but now all users get it included. The Pixel Watch 3 comes with six months of Fitbit Premium for free — just like the original — after which the subscription costs $10 per month or $80 per year.

Google Pixel Watch 3 vs. Pixel Watch: two versions of the same platform

A demonstration of the new running features for the Google Pixel Watch 3 in the Fitbit app.
Joe Maring / Digital Trends

The Pixel Watch 3 offers significantly more than the original, including hardware improvements and useful wellness features in Wear OS 5. Many of these are powered by Google AI, which analyzes and provides recommendations on achieving and surpassing your goals.

There are also unique features that only work when the Pixel Watch 3 is used alongside a Pixel phone. For example, if you have the Pixel 9 Pro or Pixel 9 Pro XL, you can use the Pixel Watch 3 to control the camera. You can also use it to control Google TV, letting you change volume, inputs, and virtually everything else from your watch.

The 45mm and 41mm Google Pixel Watch 3 models next to each other.
Joe Maring / Digital Trends

You can also see your Nest Cam feed on the tiny screen and either respond using the microphone or send a canned response. Then, there are features like call screening and a smart recorder that can record and analyze audio using AI in real time. There are many Pixel Watch 3 features that will delight anyone who upgrades.

The original Pixel Watch is far more limited. It runs Wear OS 3.5 and offers a fairly standard introduction to the Pixel Watch experience. Many of the Pixel Watch 3 improvements launched on the Pixel Watch 2, and while some of these may eventually come to the original, some will likely remain exclusive to Google’s newer models.

Google Pixel Watch 3 vs. Pixel Watch: battery and charging

A live view of a Nest doorbell on a Google Pixel Watch 3.
Joe Maring / Digital Trends

One of our biggest complaints about the first Pixel Watch was its battery life. Simply put, it’s not very good and requires recharging more than once per day. The Pixel Watch 3 solves these problems with a more efficient chipset, a larger battery, and improvements in the operating system.

The Pixel Watch has a 294mAh battery, while the Pixel Watch 3 has a larger 307mAh battery in the 41mm model and a 420mAh battery in the 45mm. The Exynos 9110 processor in the Pixel Watch offers far less efficiency than the Snapdragon SW5100 powering the Pixel Watch 3.

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Our Pixel Watch 3 review found that the battery life on Google’s latest smartwatch is exceptional and routinely exceeds Google’s own estimates. That’s with the always-on display enabled, tracking multiple workouts and sleep overnight, and receiving notifications throughout the day when paired with the Pixel 9 Pro. Simply put, the battery life has been very impressive and is one of the best reasons to upgrade from the original.

The 45mm and 41mm Google Pixel Watch 3 models next to each other.
Joe Maring / Digital Trends

This means you can expect all-day battery life of around 24 hours with the Always On display turned on or up to 36 hours with the Battery Saver mode enabled. Both are large improvements over the original Pixel Watch, which requires recharging to last a full day.

The Pixel Watch 3 is also vastly improved when it comes to charging. The 41mm is rated as recharging to 50% in just 24 minutes and reaching 85% in 35 minutes, while the 45mm is slightly slower at 28 minutes and 50 minutes, respectively. We found that it charges from 12% to 62% in 30 minutes, and a full charge takes just over an hour, but the fast charging is great for those days when you’ve been using it heavily.

Google Pixel Watch 3 vs. Pixel Watch: price, availability, colors

The Google Pixel Watch 3 lying on top of a plant.
Joe Maring / Digital Trends

The Pixel Watch 3 is available now with a starting price of $349, while the original Pixel Watch launched at a similar price and is now available for just under $200. The price difference is significant, but the Pixel Watch 3 represents much better value despite the higher price.

If you want the Pixel Watch 3 in the 41mm size, the Bluetooth-only model is $349, while the LTE version is $449. For the larger size, add $50 to both of those prices.

The Pixel Watch 3 comes in a choice of colors. If you buy the 41mm model, you can choose from Polished Silver, Matte Black, or Champagne Gold, while the larger model ditches the gold option in favor of a more neutral Hazel color. There is a choice of bands, including a striking new Rose Quartz option that matches the colors of Google’s latest phones.

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Google Pixel Watch 3 vs. Pixel Watch: verdict

The Google Pixel Watch 3 lying on top of a plant.
Joe Maring / Digital Trends

If you have the original Pixel Watch, there’s never been a better time to upgrade. The Pixel Watch 3 offers everything you need from a smartwatch and is one of the most stylish options on our best smartwatch list. Crucially, it also adds features that will make your life easier and potentially even save it one day. If you’re considering which to buy and don’t currently have a Pixel Watch, it’s worth first looking at the Pixel Watch 3.

It is Google’s best smartwatch, but it costs double the original. If budget is a concern, the first Pixel Watch is a decent choice, but keep in mind that there are other smartwatches from the same era that are much better, like the Samsung Galaxy Watch 5. If you’d rather stay with Google, then we’d recommend buying the Pixel Watch 2, which is just $70 more, but a much better smartwatch.

However, if you can stretch your budget or snag a good deal, our Pixel Watch 3 review found that it’s the Google smartwatch we have been waiting for. It’s the best that Google offers and one of the best smartwatches you can buy in 2024. The original Pixel Watch still has some value, but given the vast improvements in the third generation, there’s no doubt that the Pixel Watch 3 is the better one to buy.


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Meet the world's first female male model | 7.30

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Meet the world's first female male model


Casey Legler is 6’2″, a gay activist, swam for France in the Olympic Games, and has become internationally acclaimed as the world’s first female male model. She spoke to Monique Schafter after completing an artist’s residency in Sydney. Read more here: http://ab.co/1GuC6Qs

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Nintendo files lawsuit against Palworld developer Pocketpair

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Featured image for Nintendo files lawsuit against Palworld developer Pocketpair

Palworld was once one of gaming’s biggest hits thanks to its blend of Pokémon-like gameplay elements mixed with survival and crafting mechanics, but it was perhaps only a matter of time before Nintendo and The Pokémon Company filed a lawsuit against the game’s developers. That’s exactly what’s happening as Nintendo officially announced that together with The Pokémon Company it’s filing a lawsuit against Pocketpair.

Palworld saw huge success following its early access launch having sold nearly 5 million copies in just a few days. And it’s this kind of success that seems to have drawn Nintendo’s ire. The possibility of a lawsuit was looming well before now. However, it was also suspected that Nintendo may just let the whole thing go. After all, the game launched in January and it’s been 9 months. Pocketpair at one point also said that it had the game put through a few legal reviews and no issues were found.

But Nintendo seems to have found something, as its lawsuit states that Pocketpair is infringing on multiple patents. This lawsuit also shouldn’t come as a huge surprise, as The Pokémon Company confirmed back in January that it intended to investigate Palworld.

The Nintendo lawsuit against Palworld deve Pocketpair doesn’t mention specifics

While Nintendo has confirmed it’s filing a lawsuit against Pocketpair, the statement about the lawsuit doesn’t mention any specific details. As of right now, Nintendo isn’t saying what patents Pocketpair is infringing. However, it’s likely that information will come out in due time. Provided this lawsuit goes to court and the case proceeds.

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So far the only thing Nintendo has said is that its lawsuit is seeking an injunction against Pocketpair for these infringements. However, no information is given in terms of what it’s actually seeking as an end result. “Nintendo Co., Ltd. (HQ: Kyoto, Minami-ku, Japan; Representative Director and President: Shuntaro Furukawa, “Nintendo” hereafter), together with The Pokémon Company, filed a patent infringement lawsuit in the Tokyo District Court against Pocketpair, Inc. (HQ: 2-10-2 Higashigotanda, Shinagawa-ku, Tokyo, “Defendant” hereafter) on September 18, 2024.

This lawsuit seeks an injunction against infringement and compensation for damages on the grounds that Palworld, a game developed and released by the Defendant, infringes multiple patent rights. Nintendo will continue to take necessary actions against any infringement of its intellectual property rights including the Nintendo brand itself, to protect the intellectual properties it has worked hard to establish over the years,” the statement reads.

Pocketpair has responded to the lawsuit

Following Nintendo’s statement, Pocketpair has issued its own statement in response to the lawsuit. Stating that at this time, it’s “unaware of the specific patents” that it’s accused of infringing. The developer also says that it “hasn’t been notified of such details.”

Pocketpair is a small indie dev based in Tokyo, Japan. So it’s likely an easy target for Nintendo given the size of the studio and the success of its game. Pocketpair says it will do everything it can to ensure that indie devs are not hindered or discouraged from pursuing their creative ideas. This might suggest that Pocketpair fully intends to fight this lawsuit. As it believes it hasn’t infringed on any of Nintendo or The Pokémon Company’s patents.

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Palworld was launched on January 19, 2024, and was made available to play via GeForce NOW back on May 16.

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Here’s what a TV show based on Untitled Goose Game could have been like

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Here's what a TV show based on Untitled Goose Game could have been like

Cast your mind back to 2019, when by the idea of terrorizing a quaint English village as a loud, annoying goose. , but it was fairly short and left me wanting more. In another universe, a TV adaptation would have happened already. While that didn’t quite pan out here, we do have a funny proof-of-concept to enjoy.

House House, the game’s developer, a “proof-of-concept for a hypothetical Untitled Goose Programme” on its YouTube channel on Friday. The studio created the short with Playdate maker and Untitled Goose Game publisher Panic and animation house Chromosphere Studio. It’s a great four-minute clip that’s well worth your time. It shows a goose bullying a journalist and groundskeeper during a TV interview. The art style is lovely, the Wallace and Gromit-esque humor is on point and the goose is just as much of a jerk as the one in the game.

Sadly, House House says that the show didn’t gain traction and those involved put the idea on the shelf. But at least we get this very amusing video out of it. If nothing else, it reminded me that I need to play the Panic-published , which seems

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North Korea: Women’s football’s sleeping giant

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North Korea: Women's football's sleeping giant


“Normally when there are 30 shots in the game, it is the United States with about 25 of ’em. Not today!”

It wasn’t just the ESPN commentator who was shocked.

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Heather O’Reilly had scored the game’s final goal, dragging world number ones and two-time champions United States to a 2-2 draw in their opening match at the 2007 Women’s World Cup.

O’Reilly wasn’t surprised by the scoreline though. Or how evenly-fought the game was. She knew it would be tough.

Instead, as the final whistle blew, it was the attitude of the US’s opponents, who saw a chance missed, rather than a point gained, that struck her.

“I remember North Korea seeming disappointed,” says O’Reilly.

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“Their body language seemed to say ‘oh my gosh, we were so close to taking down the giant’.”

North Korea is the world’s most isolated country, a state based around the infallibility of Supreme Leader Kim Jong-un and a deep suspicion of the outside world.

Yet, despite living standards being well behind most other nations, North Korea has been one of the strongest female football nations on the planet.

When they took on the United States in 2007, they were ranked fifth in the world and amid a run of three Asian titles in the space of a decade.

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Their record at youth level is even better. In 2016, they won the U20 Women’s World Cup, defeating Spain, the United States and France in the knockout rounds. That same year, their under-17 team also lifted their age-grade World Cup.

“The game in 2007 was challenging, really super hard,” remembers O’Reilly of her meeting with North Korea’s senior side. “It was hard to get the ball off them, they were buzzing around, very quick.”

There was another challenge though, one that was unique to North Korea.

“It was just such a cloud of uncertainty,” says O’Reilly. “The film we had on them was very limited, even by the standard of the times.

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“Every time we played North Korea, it was always a mystery.”

The mystery now is, after a doping controversy and a four-year absence from international football, can North Korea’s women be a force once again?

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Ibotta’s CEO explains why startups shouldn’t try to time the IPO market

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Ibotta, IPOs, venture capital, startups

The IPO market has not roared back in 2024 as many investors hoped it would — not yet, at least. Elevated interest rates (this week’s 50 bps rate cut notwithstanding) and uncertainty related to the U.S. election have prompted many companies to stay private and wait for better market conditions.

But a handful of companies did go public this spring. Enterprise rewards platform Ibotta, which builds the backend rewards program infrastructure for enterprise clients like Walmart and Exxon, was one of them, debuting on the NYSE on April 18. Its IPO priced above its initial price range at $88 a share and debuted at $117 a share. It’s currently trading at $63 a share with a $1.7 billion market cap.

Ibotta’s CEO, Bryan Leach, told TechCrunch that five months after the IPO, he doesn’t regret taking his company public this year. Going public requires months of planning, and he thinks companies trying to time the market are making a “huge mistake.”

“Who knows what the [Federal Reserve] will do?” Leach said. “[Bankers say] it’s always better to wait, but you never know what will happen when you wait. At the end of the day, it’s not a destination, it’s a phase.”

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Numerous companies that were expected to go public in 2022 or 2023 are still waiting on the sidelines. Many of these companies are sitting on large valuations that they gained from funding rounds during the boom days of 2021 and they would have to suffer a haircut to go public. There were 310 IPOs in the U.S. in 2021, according to PitchBook data. This has dropped sharply since. There were 80 in 2022, 85 in 2023 and 37 through the first half of 2024.

Leach admitted that some people consider the fact that Ibotta’s stock has dropped nearly 50% since its IPO as a sign that going public at this time wasn’t the right decision, or they might say that the company should have waited. Still, he feels it is too early to draw such conclusions, pointing to how Instacart’s stock is now trading close to its debut price — it hit a 52-week high today — a year after its IPO.

“Things are going great,” Leach said. “We are the largest tech IPO in Colorado history. The stock has gone way up, and gone down, and that sort of settles in over the course of the year. From a company perspective, we’ve been pleasantly surprised by how much value we got out of being a public company.”

Public companies also have an air of legitimacy around them, and Leach said that leverage is useful when it comes to nabbing potential enterprise customers. He said the company’s recent deal with Instacart may not have happened if Ibotta were still private.

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“They trust us,” Leach said. “We have a certain amount of legitimacy. They know we have the resources. They can look at our finances. They can see we don’t have any debt. There is a level of comfort that [being a public company] provides.”

He added that the same level of legitimacy applies to hiring, too. Ibotta is no longer offering stock options tied to a private valuation given by investors with no downside protection, and Leach said that makes the company a more attractive option for talent.

Leach said companies on the fence about doing an IPO shouldn’t try to time the market, but they should wait until they are ready to be a public company.

Going public this April was not the company’s first choice, either. During the SPAC and IPO craze of 2020 and 2021, Ibotta’s investors began asking it to go public, and so the company hired bankers and wrote up an S-1, an SEC document that kicks off the IPO process. It was ready to set out on an IPO roadshow in fall of 2021 but decided to hold off.

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Ibotta had landed a large deal with Walmart to run a white-label version of its rewards program at the time, Leach said, but he wanted to be able to prove the deal was actually working before going public. Not everyone was pleased with the company’s decision to wait.

Still, Leach feels it was the right choice. Waiting until 2024 allowed Ibotta to go public with six quarters of profitability behind it and get its finances in order. Other late-stage companies in the same boat, he thinks, shouldn’t wait around for a “better” market.

Investors don’t seem to mind companies waiting it out — at least they aren’t expressing otherwise publicly. But the IPO market is bound to open again eventually. Interest rates have started to go down and there is an increase in rumors surrounding companies hiring bankers to start the IPO process. Companies may be done waiting come 2025.

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