16 Minutes News by a16z

"It's CRISPR!" This week, the Nobel Prize in Chemistry was awarded to scientists Emmanuelle Charpentier and Jennifer Doudna (also an a16z co-founder, of Scribe Therapeutics), for the development of the CRISPR/Cas9 method for genome editing -- a technology that's "had a revolutionary impact on the life sciences, is contributing to new cancer therapies, and may make the dream of curing inherited diseases come true".

While many describe this technology as "genetic scissors", one of the sharpest tools, is that analogy too limited for describing the true power and potential of CRISPR as a gene-editing platform? And while the time between (unexpected) discovery to practice to award has been less than a decade -- further confirming that we're in the new century of biology! -- at what point does such discovery become engineering, that is, innovations we can use and systematize and scale (much like transistors)?

In this special episode of 16 Minutes, a16z general partners Vijay Pande and Jorge Conde, in conversation with Sonal Chokshi, examine the long arc and narrative of CRISPR, both backwards and forward; tease apart what's hype/ what's real in terms of where we really are, in practice; and... celebrate the incredible milestone this is. It's CRISPR!, and much more...

articles cited in this episode [see also related pieces below]

"Pioneers of revolutionary CRISPR gene editing win chemistry Nobel", Heidi Ledford & Ewen Callaway, Nature, 7 October 2020

"The Nobel Prize in Chemistry 2020", The Royal Swedish Academy of Sciences, NobelPrize.org, 7 October 2020

A number of features were announced at Apple's WWDC/ Worldwide Developers Conference this week, but this episode of 16 Minutes on the News focuses on just one: Apple's "App Clips" coming to iOS14. Because App Clips -- small, lightweight, fast, parts of a full app that can quickly execute just one specific action for users in context, when and where they need them -- and App Clip Codes -- stickers that encode a URL and incorporate an NFC tag so the code can be scanned by camera, much like QR codes -- are part of a growing trend. Other examples include Snap Minis, announced at Snap's recent Partner Summit (and which we discussed on 16 Minutes last week in the context of messaging/ HTML5 games); Google's Instant Apps (2018); and We Chat's Mini Programs in China (2017).

Such mini-apps are sort of like bookmarks or shortcuts to digital destinations dropped all over our physical world, connecting online to offline through smartphone. But what are they, really? What are the use cases for businesses and brands big and small; where do (and don't) the parallels to WeChat apply; and what are the broader implications for discovery, super apps, and the future of context-aware computing... especially when more mainstream AR glasses arrive to, er, augment smartphones?

But: people have also been talking about this kind of thing for decades... is this time really different? We discuss in this week's episode with with a16z general partner Connie Chan and special guest Dan Frommer -- former editor in chief at Recode and founder and publisher of The New Consumer -- in conversation with host Sonal Chokshi.

related headlines/ background reading:

• "Why Apple's new 'App Clips' matter", The New Consumer, June 2020, @Fromedome
• "Someone, please, explain: WTF are App Clips exactly?", Gizmodo, June 2020, @vicmsong
• on "mini programs": what they are, how they work in WeChat / examples 2017-2019 by @ConnieChan

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The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.

Charts and graphs p...

In one of our special "2x" episodes of 16 Minutes (32ish minutes;) -- our show where we quickly cover the headlines and tech trends, offering analysis, frameworks, explainers, and more -- we cover the algorithm that powers TikTok, the short video-sharing platform that grabbed massive marketshare in cultures and markets never experienced firsthand by the engineers and designers in China, beating out other apps in the United States. Now, with talk of U.S. ownership/partnership for TikTok, what happens if the algorithm isn't included in the deal? And what can we learn from the "creativity network effects" flywheel of TikTok; for "algorithm friendly" product design; and more broadly, about the future of video?

The news: Given the U.S. government calling for TikTok's business to be sold to U.S. owners last month, and several bidders coming in since, the latest news was that Oracle Corporation and Bytedance are hammering out an agreement for the former to be TikTok's "trusted tech partner" in the U.S. This could include (as reported by Axios) their exclusive ability to oversee all tech operations for TikTok in the U.S., including access and control of U.S. user data; ability to review source code and all updates to software for security vulnerabilities; and separate boards and entities for ensuring compliance with CFIUS/ U.S. policies (and for allowing ownership stakes for Oracle, with Walmart). The deal hasn't been approved yet [as of September 18, 2020].

The episode: But since this show is focused on where we are on the long arc of innovation, and what's hype/ what's real when it comes to tech trends & the news, where does the source code (and more specifically, the "For You Page" algorithm) -- which may or may not be included in the deal due to China's revised export controls -- come in? Yet it's not just about if TikTok is really TikTok without it, or whether "the algorithm" and machine learning training data can be recreated... the real question is: How does the "creativity network effects" flywheel work between video creation and distribution -- from origination to mutation to dissemination? It boils down to the idea of "algorithm friendly design", observes Eugene Wei, who has written a series of deep dives on TikTok, and formerly led product at Hulu, Flipboard, and video at Oculus, among other things. So what does TikTok, regardless of deal outcome, suggest about the future of product development, and more broadly, the future of video? All this and more in this 2x+ long explainer episode of 16 Minutes.

We cover the latest coming out of Apple's event yesterday, focusing on their new watches (including a lower price model); new sensors (including blood oxygen); and services for healthcare. Is always-on, (relatively) low-cost, passive monitoring for fitness and mainstream consumers really, finally the wedge into data for clinical applications as well? What features -- cost, efficacy, battery power, convenience, data, business model -- do and don't matter when it comes to filling in the gaps between the doctor's office and our mobile selves, families, home care?

We take an, ahem, "pulse check" on where we are when it comes to the idea of the "doctor's office on a wrist". To help tease apart what's hype/ what's real here, as is the premise of this show, a16z bio general partner Vijay Pande and Rachel Kalmar chat for ~16ish minutes with host Sonal Chokshi. Where do Singapore's initiatives with wearables (which we discussed in a previous episode) come in? What about data use by providers; what are the policy considerations? Data scientist (and former Berkman-Klein Center for Internet & Society fellow) Kalmar actually holds the world record for number of wearable sensors worn continuously, has been wearing all kinds of watches and wearables on her wrist for a long time, and has seen the industry evolve first hand, so shares her vantage points there as well.

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The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. In addition, this content may include third-party advertisements; a16z has not reviewed such advertisements and does not endorse any advertising content contained therein.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services. Furthermore, this content is not directed at nor intended for use by any investors or prospective investors, and may not under any circumstances be relied upon when making a decision to invest in any fund managed by a16z. (An offering to invest in an a16z fund will be made only by the private placement memorandum, subscription agreement, and other relevant documentation of any such fund and should be read in their entirety.) Any investments or portfolio companies mentioned, referred to, or described are not representative of all investments in vehicles managed by a16z, and there can be no assurance that the investments will be profitable or that other investments made in the future will have similar characteristics or results. A list of investments made by funds managed by Andreessen Horowitz (excluding investments for which the issuer has not provided permission for a16z to disclose publicly as well as unannounced investments in publicly traded digital assets) is available at https://a16z.com/investments/.

Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Please see https://a16z.com/disclosures for additional important information.

This is the 15th episode of 16 Minutes, our news show where we cover the top headlines, the a16z Podcast way: what’s real / what’s hype; what's interesting from our vantage point in tech. This week (after a brief hiatus for our annual innovation event and November holidays), we cover the following news... in conversation with Sonal Chokshi:

1. use of alternative data in credit underwriting -- Five federal regulatory agencies (the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Office of the Controller of the Currency, and the National Credit Union Administration) recently issued a joint statement on the use of alternative data in credit underwriting; what does this news really indicate, and what are the implications for both consumers and companies? -- with Seema Amble and Rex Salisbury;
2. big annual shopping days and retail trends -- From Black Friday to Cyber Monday to Singles' Day and Prime Day and seemingly unprecedented sales, where are we in the shift from offline to online commerce, on the so-called "death of retail", and on other tech (chatbots, logistics) changing shopping? -- with Jeff Jordan and Connie Chan.

Relevant/ related links:

• credit, banking, data:
  • use of cash-flow data in underwriting credit: empirical findings via FinRegLab
  • a brief history of credit cards (or, what actually happens when you swipe) [animated video] with Alex Rampell
  • on managing risk and uncertainty with Angela Strange
  • on non-bank financial firms (aka fintech is eating the world) by Angela Strange
  • on money, risk, and software [podcast] with Alex Rampell
• retail, logistics, etc.:
  • the golden era of productivity, retail, supply chains [podcast] with Marc Levinson, Hanne Tidnam, and Sonal Chokshi
  • where's my stuff, the lowdown on logistics and ops [podcast] with Jeff Jordan
  • online to offline 2.0 - experiments and examples from China with Connie Chan
  • online to offline (O2O) commerce by Alex Rampell
  • the tipping point (e-commerce version) by Jeff Jordan
  • so you want to compete with Amazon? by Jeff Jordan

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The views expressed here are those of the individual AH Capital Management, L.L.C. (“a16z”) personnel quoted and are not the views of a16z or its affiliates. Certain information contained in here has been obtained from third-party sources, including from portfolio companies of funds managed by a16z. While taken from sources believed to be reliable, a16z has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation.

This content is provided for informational purposes only, and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to...