Coronavirus Updates: Endeavor May Cut Epic Games; Tinder's New COVID-19 Strategy

Coronavirus Updates: Endeavor May Cut Epic Games; Tinder's New COVID-19 Strategy

Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.

  • Mega talent agency Endeavor seeks sale of Epic games in bid to restructure amid COVID-19
  • Forget swiping left and right on Tinder to meet a match. The app now wants to take you on a virtual date

    Mega talent agency Endeavor seeks sale of Epic games in bid to restructure amid COVID-19

    upload.wikimedia.org

    Hollywood appears to be poised for dealmaking as COVID-19 rearranges priorities and business models. Endeavor Group Holdings Inc., the Tinseltown talent agency and owner of Ultimate Fighting Championships, is said to be close to sell off investments as a way to streamline their overall business. Bloomberg News reported that Endeavor, led by Chief Executive Ari Emanuel, is looking into selling part of its stake of Epic Games. The North Carolina-based video game maker is known for its popular Fortnite franchise, and was once valued at about $15 billion.

    Endeavor built a sprawling empire of media, sports and entertainment assets predicated on the growing value of live events, according to Bloomberg. It operates the mixed martial arts league UFC and stages hundreds of live events all over the world. The temporary pause on such events in most parts of the world has forced Endeavor to lay off, furlough or cut salary for about one-third of its workforce, and prompted credit ratings to downgrade its debt.

    Forget swiping left and right on Tinder to meet a match. The app now wants to take you on a virtual date

    cdn.pixabay.com

    Love in the age of pandemic: Tinder wants to match you to your perfect mate, but also facilitate the first date. The West Hollywood-based dating app told shareholders Wednesday it will launch a video chat function later this year to virtually allow users to meet. The app has an estimated 57 million people who log on to the service globally, all of them swiping left and right before being allowed to contact matches.

    Match group also owns a number of other dating apps including Hinge and OkCupid. Though, the new video function will only be rolled out on Tinder in late summer. Match reported Tuesday that it saw usage growth spike across all its dating brands during the first quarter, and generated more than $544 million in revenue — a 17% increase year-over-year.


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    The Influencer-to-Podcaster Pipeline Is Ready to Explode

    Nat Rubio-Licht
    Nat Rubio-Licht is a freelance reporter with dot.LA. They previously worked at Protocol writing the Source Code newsletter and at the L.A. Business Journal covering tech and aerospace. They can be reached at nat@dot.la.
    The Influencer-to-Podcaster Pipeline Is Ready to Explode
    Evan Xie

    It’s no secret that men dominate the podcasting industry. Even as women continue to grow their foothold, men still make up many of the highest-earning podcasts, raking in massive paychecks from ad revenue and striking deals with streaming platforms worth hundreds of millions of dollars.

    But a new demographic is changing that narrative: Gen-Z female influencers and content creators.

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    nat@dot.la

    NASA’s JPL Receives Billions to Begin Understanding Our Solar System

    Samson Amore

    Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College and previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

    NASA’s JPL Receives Billions to Begin Understanding Our Solar System
    Evan Xie

    NASA’s footprint in California is growing as the agency prepares for Congress to approve its proposed 2024 budget.

    The overall NASA budget swelled 6% from the prior year, JPL deputy director Larry James told dot.LA. He added he sees that as a continuation of the last two presidential administrations’ focus on modernizing and bolstering the nation’s space program.

    The money goes largely to existing NASA centers in California, including the Pasadena-based Jet Propulsion Laboratory run with Caltech, Ames Research Center in Silicon Valley and Armstrong Flight Research Center at Edwards Air Force Base.

    California remains a hotspot for NASA space activity and investment. In 2021, the agency estimated its economic output impact on the region to be around $15.2 billion. That was far more than its closest competing states, including Texas ($9.3 billion) and Maryland (roughly $8 billion). That same year, NASA reported it employed over 66,000 people in California.

    “In general, Congress has been very supportive” of the JPL and NASA’s missions, James said. “It’s generally bipartisan [and] supported by both sides of the aisle. In the last few years in general NASA has been able to have increased budgets.”

    There are 41 current missions run by JPL and CalTech, and another 16 scheduled for the future. James added the new budget is “an incredible support for all the missions we want to do.”

    The public-private partnership between NASA and local space companies continues to evolve, and the increased budget could be a boon for LA-based developers. Numerous contractors for NASA (including CalTech, which runs the JPL), Boeing, Lockheed Martin, SpaceX and Northrop Grumman all stand to gain new contracts once the budget is finalized, partly because NASA simply needs the private industry’s help to achieve all its goals.

    James said that there was only one JPL mission that wasn’t funded – a mission to send an orbital satellite to survey the surface and interior of Venus, called VERITAS.

    NASA Employment and Output ImpactEvan Xie

    The Moon and Mars

    Much of the money earmarked in the proposed 2024 budget is for crewed missions. Overall, NASA’s asking for $8 billion from Congress to fund lunar exploration missions. As part of this, the majority is earmarked for the upcoming Artemis mission, which aims to land a woman and person of color on the Moon’s south pole.

    While there’s a number of high-profile missions the JPL is working on that are focused on Mars, including Mars Sample Return project (which received $949 million in this proposed budget) and Ingenuity helicopter and Perseverance rover, JPL also received significant funding to study the Earth’s climate and behavior.

    JPL also got funding for several projects to map our universe. One is the SphereX Near Earth Objects surveyor mission, the goal of which is to use telescopes to “map the entire universe,” James said, adding that the mission was fully funded.

    International Space Station

    NASA’s also asking for more money to maintain the International Space Station (ISS), which houses a number of projects dedicated to better understanding the Earth’s climate and behavior.

    The agency requested roughly $1.3 billion to maintain the ISS. It also is increasing its investment in space flight support, in-space transportation and commercial development of low-earth orbit (LEO). “The ISS is an incredible platform for us,” James said.

    James added there are multiple missions outside or on board the ISS now taking data, including EMIT, which launched in July 2022. The EMIT mission studies arid dust sources on the planet using spectroscopy. It uses that data to remodel how mineral dust movement in North and South America might affect the Earth’s temperature changes.

    Another ISS mission JPL launched is called ECOSTRESS. The mission sent a thermal radiometer onto the space station in June 2018 to monitor how plants lose water through their leaves, with the goal of figuring out how the terrestrial biosphere reacts to changes in water availability. James said the plan is to “tell you the kind of foliage health around the globe” from space.

    One other ISS project is called Cold Atom Lab. It is “an incredible fundamental physics machine,” James said, that’s run by “three Nobel Prize winners as principal investigators on the Space Station.” Cold Atom Lab is a physics experiment geared toward figuring out how quantum phenomena behave in space by cooling atoms with lasers to just below absolute zero degrees.

    In the long term, James was optimistic NASA’s imaging projects could lead to more dramatic discoveries. Surveying the makeup of planets’ atmospheres is a project “in the astrophysics domain we’re very excited about,” James said. He added that this imaging could lead to information about life on other planets, or, at the very least, an understanding of why they’re no longer habitable.

    https://twitter.com/samsonamore
    samsonamore@dot.la

    Behind Her Empire: Margaret Wishingrad On Creating A Low Sugar Cereal Brand

    Decerry Donato

    Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

    Behind Her Empire: Margaret Wishingrad On Creating A Low Sugar Cereal Brand
    Provided by BHE

    On this episode of Behind Her Empire, Three Wishes founder and CEO Margaret Wishingrad talks about creating brand awareness and shares the key component to running a successful business.

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