Coronavirus Updates: Disneyland Closes, MLS Games and Spring Training Suspended

Joe Bel Bruno
Joe Bel Bruno is dot.LA's editor in chief, overseeing newsroom operations and the organization's editorial team. He joins after serving as managing editor of Variety magazine and as senior leadership in spots at the Los Angeles Times, Wall Street Journal and Associated Press. He's a veteran journalist that loves breaking big stories, living back in L.A., a good burrito and his dog Gladys — not necessarily in that order.
Coronavirus Updates: Disneyland Closes, MLS Games and Spring Training Suspended

The coronavirus pandemic's emergence has changed the world around us. Conferences have been cancelled, travel has been severely restricted, and working from home has become the norm. But less clear is the scale of the economic impact and how companies should be reacting. 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.


1:39 p.m: Disneyland Will Close Due to Covid-19

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Disneyland will close its doors indefinitely, according to a statement from the park:

"While there have been no reported cases of COVID-19 at Disneyland Resort, after carefully reviewing the guidelines of the Governor of California's executive order and in the best interest of our guests and employees, we are proceeding with the closure of Disneyland Park and Disney California Adventure, beginning the morning of March 14 through the end of the month. The Hotels of Disneyland Resort will remain open until Monday, March 16 to give guests the ability to make necessary travel arrangements; Downtown Disney will remain open. We will monitor the ongoing situation and follow the advice and guidance of federal and state officials and health agencies. Disney will continue to pay cast members during this time."

The closure comes as California Governor Gavin Newsom has called for all nonessential events of more than 250 people to be cancelled and issued a health directive aimed at getting Californians to be vigilant about contracting the virus.

Startup Aims to Produce 10,000 COVID-19 Testing Kits a Day at L.A. Lab

"We thought the big testing labs would have it under control, but it became apparent to us that there wasn't enough testing."

With that thought, Fred Turner, the head of a Bay Area startup known as Curative Inc., headed to Los Angeles to launch a production facility to produce coronavirus testing kits. "We can now do 50 a day, by Monday 150, and the end of the week 1,000 a day." The goal: 10,000 coronavirus testing kits to be deployed to drive-thru testing centers across the United States.

Check out reporter Rachel Uranga's story here.

10:51a.m.: Major League Baseball Suspends Spring Training, Delays Season

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Major League Baseball suspended all spring training in Arizona and Florida to confront the coronavirus pandemic, and delayed the start of the regular season by at least two weeks. The NCAA Tournament set for March also called off games.

10:37 a.m.: Major League Soccer Suspends Play

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Major League Soccer is following in the footsteps of the NBA and suspending its season for 30 days due to the coronavirus COVID-19, the league announced Thursday. The Los Angeles Galaxy, which are currently ranked fifth in the western conference, tweeted "at the appropriate time, the league and clubs will communicate plans for the continuation of the 2020 season."

9:47 a.m.: eSports Takes a Hit

William D'Urso

Plans for the Overwatch League to grow attendance in 2020 have stalled as organizers have shut it down amid growing coronavirus fears. The blockbuster title had big plans this year for its dedicated eSports league, rolling out a home game schedule aimed to foment regional enthusiasm. Read More >>

1:00 a.m.: UCLA Anderson Revises Its Economic Outlook for 2020

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University of California, Los Angeles economists tore up their quarterly March 2020 economic outlook as COVID-19 anxiety took hold of the American public and the novel virus spread through dozens of states.

The updated 104-page UCLA Anderson Forecast, released early Thursday, revised their earlier forecast of 2% for real GDP growth to a low 1.5% on a fourth-quarter-to-fourth-quarter basis, as they took a "midpoint between coronavirus having a very minimal effect to it causing a full-blown recession." Read more >>

😊🚘 Rivian's $5 Billion Lifeline

🔦 Spotlight

Volkswagen announced on Tuesday a significant investment of up to $5 billion in Rivian, a struggling electric truck manufacturer known for its vehicles' distinctive smiley-face design reminiscent of Volkswagen's iconic Beetle. This partnership marks a unique collaboration between the world's second-largest automaker and a startup grappling with profitability challenges akin to those faced by Tesla. Volkswagen's infusion of $1 billion initially, potentially rising to $5 billion pending regulatory approval, underscores its strategic pivot towards enhancing its electric vehicle (EV) software capabilities, an area where analysts believe the company has lagged.

For Rivian, which has received acclaim for its electric trucks and SUVs but struggles with production ramp-up and financial losses, the investment offers crucial financial backing. The company plans to utilize Volkswagen's expertise in manufacturing, leveraging the German automaker's annual production of nearly 10 million vehicles. This alliance aims to bolster Rivian's efforts to launch new models like the R2 midsize SUV and complete its Georgia factory, paused earlier this year to conserve funds. Rivian's stock surged upwards of 40% following the announcement, reflecting investor optimism in the company's future prospects.

Despite their differing corporate cultures—Volkswagen's traditional, structured approach contrasted with Rivian's agile tech startup ethos—the CEOs of both companies expressed mutual admiration and shared goals during the partnership announcement. The collaboration is expected to yield EV software solutions benefiting Volkswagen's various brands, potentially including Audi and Porsche, while allowing Rivian to maintain its brand identity and separate vehicle marketing strategies. This strategic partnership between Volkswagen and Rivian not only promises to revolutionize the electric vehicle market but also highlights the potential for collaboration between established automakers and innovative startups in Southern California, where Rivian is based. Here’s to hoping these smiling cars will balance out some of the inevitable LA road rage.

🤝 Venture Deals

LA Companies

  • HeyGen, a startup that allows users to generate videos with AI-created avatars that can lip-sync to provided audio, making it easier for businesses to create engaging video content, raised a $60M Funding Round at a $500M post-money valuation. The deal was led by Benchmark, with Conviction, Thrive Capital, and Bond Capital also stepping up. - learn more
  • Pomerium, a startup that provides a secure access platform that dynamically verifies user identities to ensure authorized access to applications and services, raised a $13.8M Series A round led by Benchmark and including previous investors Bain Capital, Haystack, and SNR. - learn more
  • Etched, a maker of transformer-specialized AI chips, raised a $120M Funding Round. - learn more
  • Rocketlane, a customer onboarding platform, raised a $24M Series B co-led by 8VC, Matrix Partners India, and Nexus Venture Partners. - learn more
  • Sift, a developer of unified observability solutions for hardware sensor data, raised a $17.5M Series A led by GV. - learn more
  • LOST iN, a travel media brand, raised a $4M Seed Round led by MaC Venture Capital. - learn more

LA Venture Funds


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From Pitch Meetings to Power Lunches: LA’s Exclusive Membership Clubs 🗝️

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Summer's here, so it's time to zhuzh up your work environment. Discovering the best membership and social clubs in Los Angeles for meetings can boost networking and collaboration, offering exclusive venues and premium amenities tailored for professionals and creatives to thrive amidst the city's vibrant backdrop. These clubs provide a sophisticated setting for productive gatherings and meaningful connections in LA. Here are some top private member clubs perfect for meetings and productive work sessions.

The Jonathan Club

Club Details: The Jonathan Club, one of Los Angeles' original membership clubs, has been a cornerstone of the city's elite social scene since its founding in the mid-1890s. Its legacy is intertwined with the growth and development of LA itself, most notably through a pivotal meeting held at the club that sparked the idea for a southern campus of the University of California—what would eventually become UCLA. Today, the Jonathan Club continues to offer its members an unparalleled experience of exclusivity and refinement. With locations in both DLTA and Santa Monica, members enjoy access to premium amenities and spaces and a calendar with hundreds of social events and workshops throughout the year, providing ample opportunities for networking, personal growth, and leisure activities.

Membership Details: Initiation fee is around $50,000, and admission typically requires that you be invited or know someone who is already a member.

Spring Place

Image Source: Spring Place

Neighborhood: Beverly Hills

Club Details: A mix between co-working space and social club, this Beverly Hills hotspot is a more exclusive version of similar clubs. Spring Place Beverly Hills spans three floors and offers a stunning art collection. The interior is filled with tons of natural light and has an intentional design that fuels members to harness some of their best work. Members also have access to luxurious dining and nightlife pop-ups that happen at Spring Place.

Membership Details: There is a non-refundable initiation fee of $500 and then local membership for people under 30 starts at $300 per month, while monthly membership for locals over 30 is $600.

Griffin Club

Image Source: Griffin Club

Neighborhood: Cheviot Hills

Club Details: Located in Cheviot Hills, Griffin Club LA is a sporty club with ample shared workspace. Following a $20M renovation in 2020, the club now boasts seven LED-lit tennis courts, four LED-lit pickleball courts, two recreational lap pools, a 25-meter family pool for kids, an adults-only resort pool, and childcare services. It's the ideal destination for a clientele looking to mix work with competitive sport.

Membership Details: Membership is by invitation only and is subject to approval. Membership prices at the club vary. A family membership entails a $12,000 initial fee plus a $450 monthly fee, while a junior membership only entails a $2,000 initiation fee and a $205 monthly fee.

Soho House West Hollywood

Image Source: Soho House West Hollywood

Neighborhood: West Hollywood

Club Details: Soho House West Hollywood provides a stylish and exclusive work and meeting destination, featuring chic meeting rooms and workspaces with panoramic views of Los Angeles. Combining luxury amenities with a creative atmosphere, it offers an ideal setting for networking, collaboration, productive sessions, and an amazing Sunday brunch!

Membership Details: Two current member referrals are needed, plus an online application, and a recent photo to confirm your identity. Quarterly memberships start at $675.25, but if you’re under 27, you can pay $337.75 quarterly. However, if you want access to every house, membership costs $5,250.00 annually, or $2,650.00 if you’re under 27.

Little Beach House Malibu

Image Source: Little Beach House Malibu

Neighborhood: Malibu

Club Details: The Little Beach House Malibu is a small, local club for the creative community of Malibu and the surrounding coastal areas. The club is known for its magnificent dining room, bar, sitting room and terrace. It is the perfect place for a truly memorable work meal.

Membership Details: Malibu Beach House is not included in the Soho House membership. If you are an existing member, you can apply for “Malibu Plus” for an additional $2,190 a year, or $1,095 if you’re under 27.

San Vicente Bungalows

Image Source: San Vicente Bungalows

Neighborhood: West Hollywood

Club Details: San Vicente Bungalows is an exclusive, members-only social club located in West Hollywood, California, offering a luxurious and private environment for its high-profile clientele. The club is renowned for its strict privacy policies, elegant decor, and high-end amenities, catering to celebrities (and royals) and industry elites seeking a discreet space to unwind and socialize.

Membership Details: You must be nominated by a current club member to apply. Applications are evaluated monthly and annual dues start at $4,200 plus a $1,800 initiation fee.

The Aster

Image Source: The Aster

Neighborhood: Hollywood

Club Details: The Aster, located at the iconic intersection of Hollywood Boulevard and Vine Street, redefines the modern members' club with its emphasis on warmth and hospitality, blending public hotel amenities with private club exclusivity. Featuring bright, airy spaces and top-notch facilities such as an outdoor pool, recording studio, and rooftop bar, it offers a fluid environment for work, relaxation, and socializing.

Membership Details: Memberships start at $3,600 per year and be acquired by filling out an application. In addition to uploading a photo, hopeful members also have to write a small bio while highlighting their interests, skills, profession, and hobbies.

NeueHouse

Image Source: NeueHouse

Neighborhood: Venice/Hollywood/DTLA

Club Details: NeueHouse in LA is a chic private workspace and cultural hub designed for creative professionals, offering sophisticated workspaces, a dynamic calendar of cultural programming, and luxurious amenities. Situated in three bustling neighborhoods across LA, it provides a collaborative environment where members can work, network, and unwind in style.

Membership Details: You have to apply for the Salon membership, which includes questions like “dream dinner guests (dead or alive?)." Annual dues for Salon memberships are $3,000 plus a $200 joining fee. You can also inquire about the Gallery membership for flexible workspaces and offices for individuals or teams, starting at $595 per month, with various options depending on your needs.

🧬🔬AI-Driven Drug Discovery

🔦 Spotlight

Terray Therapeutics is at the forefront of AI-assisted drug discovery and development, operating a cutting-edge laboratory in Monrovia, California. The facility, roughly two-thirds the size of a football field, functions as a data powerhouse, generating over 50 terabytes of raw data daily, which is an amount of information equivalent to 12,000 high definition movies, through its miniaturized automation processes.

Terray Therapeutics exemplifies a new wave of innovative companies harnessing artificial intelligence to revolutionize drug discovery and development. The key to their approach lies in generating vast amounts of high-quality experimental data to train their AI systems. This data-driven strategy enables rapid experimentation and pattern recognition, allowing the AI to make informed predictions about potential treatments. Terray's generative AI can digitally design drug molecules, which are then synthesized and tested in their high-speed automated laboratory. The platform measures the interaction between these molecules and target proteins, with both successful and unsuccessful results feeding back into the AI system.

This iterative process creates a powerful feedback loop, continuously refining the AI's predictive capabilities and accelerating the drug discovery process. Terray's tNova platform integrates chemical experimentation and computation at an unprecedented scale, producing massive amounts of precise, purpose-built data that becomes increasingly valuable with each cycle of design and experimentation. This unique blend of experimentation and computation allows Terray to efficiently explore a vast molecular space, potentially solving complex problems in drug discovery faster and more effectively than traditional methods.

🤝 Venture Deals

LA Companies

  • Fuze Technology, a provider of rentable portable phone chargers, has raised a $11.5M Series A led by Beverly Pacific and joined by Palm Tree Crew, Bain Capital Ventures Scout Fund, Dream Ventures, Live Nation, ASM Global, SCIENCE Ventures, Haslem Sports Group, and Simon Ventures. - learn more
  • Stanly, a platform that offers fan-to-fan and artist-to-fan communication and commerce, raised an $8M Funding Round led by C Capital and joined by AppWorks, Goodwater, and Palm Drive Capital. - learn more
  • GrayMatter, an industrial robotics company, raised a $45M Series B led by Wellington Management and joined by NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures. - learn more

LA Venture Funds

LA Exits

  • Webtoon Entertainment, an online cartoon company based in LA carved out of South Korea's Naver, set IPO terms to 15m shares at $18-$21. It would have a $2.6b fully diluted market value, were it to price in the middle, and plans to list on the Nasdaq (WBTN). - learn more
  • EV maker Fisker has finally filed for bankruptcy. - learn more
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