Morning Brew - ☕️ A web in the woods

Plus, Meta by-the-numbers and cultivated-meat projects.
Morning Brew October 14, 2022

Emerging Tech Brew

It’s Friday, and after 30+ years, the brand that brought you Clippy is being sunset.

Microsoft Office will now, in most instances, become Microsoft 365. The transition has been underway for a few years, but now a more comprehensive rebrand is afoot.

What’s next, ending support for Internet Expl—oh…wait a minute.

In today’s edition:

This startup thinks IoT devices can help with wildfire mitigation
🕶 Meta became Meta about a year ago—here’s how it’s going
One lab-grown beef exec is eyeing price parity by 2028

Jordan McDonald, Dan McCarthy

CONNECTIVITY

Connecting the forest

Connecting the forest Illustration: Dianna “Mick” McDougall, Source: Getty Images

Even though the year is not yet over, 2022 has been the US’s most active wildfire year within the past decade in terms of the number of fires, according to the National Interagency Fire Center. Through early October alone, 55,612 fires have burned up nearly 7 million acres across the country.

As wildfire risk continues to rise, startups are providing new tech, like AI-assisted cameras or drones, that attempts to aid fire authorities in detecting wildfires earlier.

Zoom in: German startup Dryad Networks, which has raised €13.9 million since its 2020 founding, is based on an approach that uses devices to detect fires at their exact source.

  • Dryad places IoT sensors throughout fire-prone forests, where they aim to identify fires before they can grow into deadly infernos.

“The advantage of that approach is that we can detect fires even during what’s called the smoldering phase. So before there is an open fire, before you can even see it from a kilometer or two kilometers away,” Carsten Brinkschulte, co-founder and CEO of Dryad Networks, told Emerging Tech Brew.

By the numbers: So far, Dryad has deployed 12 proof-of-concept installations in countries like the United States, Spain, Greece, Portugal, Germany, and South Korea.

It has installed a few hundred sensors through these projects, and plans to manufacture at least 10,000 sensors to aid in large-scale deployments by the end of 2022, Brinkschulte said. He added that Dryad is aiming to manufacture 230,000 units by the end of 2023.

Click here to keep reading about Dryad’s detection tech.JM

        

FROM THE CREW

The Crew

Candid convos with industry icons: Hosted by Brew co-founder Alex Lieberman, the Imposters podcast delves deep into the personal and mental challenges some of the biggest names in biz have faced while reaching their most resounding achievements. Listen here.

        

AR/VR

Meta’s metaverse, one year in

Facebook logo transforming into a Meta logo Francis Scialabba

Meta had a splashy event on Tuesday where it announced an ambitious new VR product—and no, we’re not referring to avatars with legs.

  • The company unveiled the ~$1,500 Quest Pro headset this week, which is targeted at power users and potential metacommuters (read: people who want to do their real-life jobs in a metaverse setting).

The new product comes nearly one year after Meta became Meta. Let’s take a by-the-numbers look at the company’s massive bet on VR, based on the most recent figures:

  • Revenue: In Q2 2022, Meta made $452 million from its Reality Labs segment, up 48% from $305 million a year prior.
  • Expenses: In Q2 2022, Meta spent ~$3.3 billion on its Reality Labs projects, up 19% YoY from ~$2.7 billion.
  • Losses: In Q2 2022, Meta lost $2.8 billion on Reality Labs projects, up 15% YoY ~from $2.4 billion.
  • Hardware: By the end of this year, Meta is projected to have sold 13.9 million VR headsets in total, per IDC estimates.
  • Software: In total, Meta’s VR app has been installed an estimated 21 million times, per Sensor Tower, and Horizon Worlds had ~300,000 monthly active users as of February, per Meta.
  • Developers: The company claims that 33 game titles have made $10+ million in gross revenue so far, up from 22 in February. To date, users have spent $1.5 billion on games and apps in the Quest Store.

Zoom out: At least some execs are reportedly uncomfy with Reality Labs’s burn rate, and the company’s metaverse VP recently implored employees in the org to “make it their mission to fall in love with Horizon Worlds,” per The Verge.

Read this story on-site.DM

        

BIOTECH

The cell-cultured cost curve

The cell-cultured cost curve

Although there’s only one (1) country in the world that currently allows the sale of cultivated-meat products, some industry execs forecast rapid advancement in the near future.

Israel-based Aleph Farms, one of the most well-capitalized cultivated-meat companies in the world, expects to reach price parity with conventional products by 2028, its co-founder and CEO Didier Toubia said at our September event.

“Beef is priced much higher than chicken or even pork, so I believe that cultivated-beef products will reach price parity with conventional meat products quicker than cultivated chicken, for instance,” he added.

On the other hand...In recent years, some studies—like the industry-infamous 2020 techno-economic analysis—have concluded that cultivated meat is unlikely to ever become cost-competitive.

Toubia said during the event that such analyses are a “good basis for discussion, but they don’t necessarily take into account the level of innovation our companies…are implementing to make a change in those basic assumptions.”

Click here to read the full story (and to check out video replay).DM

        

BITS AND BYTES

Wells Fargo: Automation Will Displace 200k Banking Jobs In the Next Decade Francis Scialabba

Stat: Bank of America said its virtual assistant has been used 1 billion times by 32 million customers since it was released in 2018.

Quote: “This is more like shutting down speakeasies.”—Roblox Chief Scientist Morgan McGuire on moderating content in the company’s virtual world

Read: More Meta content: The Verge did an hour-long sit-down with Mark Zuckerberg about the state of the metaverse and also released a hands-on review of the new headset.

Learn: Extra! Extra! Brew co-founder Alex Lieberman is spilling all his content creator secrets next week on October 17. Lock in your seat for his master class and prepare to walk away a better, more successful creator.

Scalable security: A strong biz is a safe biz, and Vanta is here to help you Fort Knox-ify your company’s data. Join their live product demo to get the deets on Vanta’s market-leading compliance automation software.*

*This is sponsored advertising content.

WHAT ELSE IS BREWING

  • Intel is reportedly planning to cut thousands of jobs as plummeting PC sales drag down demand for its core product: PC processors.
  • Honda picked Ohio for its planned $4.4 billion battery plant joint-venture with LG Energy. Ohio is for…cathodes?
  • Roku is taking a page out of your gadget-obsessed friend’s book and jumping into smart homes. It announced devices ranging from security cameras to video doorbells.
  • Web3 talent marketplaces want to be the next LinkedIn.

GOING PHISHING

Three of the following news stories are true, and one...we made up. Can you spot the odd one out?

  • An artist is burning thousands of his paintings to “transform” them into NFTs.
  • Legislators in France have proposed an outright ban on AI art generators, claiming they “undermine the spirit of the arts.”
  • People are making hundreds of thousands of dollars ghostwriting tweets for VCs.
  • Researchers concluded that putting big, animated googly eyes on autonomous vehicles could make them safer.

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GOING PHISHING ANSWER

We have not heard of legislators in France (or anywhere) banning AI art generators.

 

Written by Jordan McDonald and Dan McCarthy

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