L.A. Tech Updates: L.A. Seed Rounds Are Getting Bigger; the Future of Facial Recognition Technology

L.A. Tech Updates: L.A. Seed Rounds Are Getting Bigger; the Future of Facial Recognition Technology

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Anaheim's 'Star Wars' Celebration is Canceled
  • L.A. Congressman Looks to Limit Police Use of Facial Recognition Technology
  • L.A. Seed Rounds Are Getting Bigger

    Anaheim's 'Star Wars' Celebration is Canceled

    www.starwarscelebration.com

    Chalk up another disappointment to the coronavirus. The organizers of Anaheim's 'Star Wars Celebration' are calling it off this year, due to concerns about hosting an indoor event in the midst of a global pandemic. Would-be attendees can exchange their tickets for the 2022 event (plus a limited edition stormtrooper pin), trade them for merch or get a refund. You can find more information at their website.

    L.A. Congressman Looks to Limit Police Use of Facial Recognition Technology

    Amazon, IBM and Microsoft either pulled sales of their facial recognition technology to law enforcement or halted their business last week as pressure from civil rights leaders, companies and legislators grew over how the surveillance technologies were being used.

    The issue has played out for years in the Los Angeles communities Congressman Jimmy Gomez represents. Activists regularly object to the use of technology that has the potential to exacerbate racial bias. Now, it has exploded anew on the national stage in the aftermath of the George Floyd protests.

    Gomez, who sits on the House Oversight and Reform Committee, told Politico last week he's drafting legislation that would place restrictions on local and state police from using the technology.

    "If facial recognition is considered the future of policing, it's just going to perpetuate the same biases that are already out there because it's in and of itself is biased," he told VentureBeat in a separate interview. "It's been flawed. It's been shown to be flawed and can [misidentify] people of color, mainly black women, Latinos, African Americans — and the darker the skin color, the more mistakes it makes. That's going to lead to more negative interactions between law enforcement and people of color, which can lead to deadly consequences."

    Gomez told the outlet Amazon gave him the run around as Congress probed the issue.

    "We need them to cooperate and give us data so we can be better informed on how to craft this legislation," he said. "If not, we'll just work with the civil rights groups, and we'll just try to pass it through, and they're going to most likely try to oppose it, in my opinion, at the end of the day if they don't like it."

    L.A. Seed Rounds Are Getting Bigger

    Image from Amplify.LA

    In the first quarter of this year, 19 Los Angeles startups raised seed rounds of more than $2.5 million. The average seed round raised was $4 million, according to Amplify.LA's latest LA Seed Report.

    "While nothing new for larger ecosystems like SF and NY, it's a relatively new phenomenon here in L.A.," wrote Conner Sundberg, an associate at Amplify.LA.

    Amplify also found seed activity in Q1'20 was nearly double that of Q1'19. 38 companies closed seed rounds in the first quarter while fintech re-emerged as one of the top dealmaking sectors.

    "Since starting this project years back, we've noted more funds being raised in L.A., a higher percentage of capital coming from local investors, and early stage teams tackling more varied verticals," wrote Sundberg.

    — Ben Bergman

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    The Santa Monica-based movie-ticketing service Atom Tickets has pre-sold more tickets for "Godzilla vs. Kong" than any film since the start of lockdown.

    Following a disastrous year for the box office, its performance could be a litmus test for Hollywood and the many theaters that teetered on the brink during the pandemic.

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    Sam Blake

    Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

    https://twitter.com/hisamblake
    samblake@dot.la

    On this week's episode of the L.A. Venture podcast, hear from Chang Xu, partner at Basis Set Ventures, a $140 million fund focused on AI and automation - technology that transforms the way people work.

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    Minnie Ingersoll
    Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
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