In the weeks after Donald Trumps 2016 victory, many top tech leaders found themselves at a meeting in Trump Tower, frowning and quite obviously full of dread. Now, the same executives sound enthusiastic when they say theyre looking forward to working with the next president.After Tuesdays election, the congratulations from the tech elite to Trump came in fast. The day after he secured the White House, everyone from Tim Cook to Mark Zuckerberg posted their well wishes for Trumps second term. Even Jeff Bezos weighed in, hailing Trumps extraordinary political comeback and decisive victory. This, from a man who has been in more than one public feud with Trump.The newfound praise does not, however, signal a political realignment in all of Silicon Valley. Tech executives as well as rank-and-file workers overwhelmingly supported Kamala Harris in the election, which shouldnt be too surprising: Shes been involved in Bay Area politics for many years and has deep ties with the tech and venture capital industries. That allegiance continued the trends of the Obama era, which was marked by a bit of a love fest between Washington and Silicon Valley. Barack Obama, who won the White House in 2008 with the help of Facebook co-founder Chris Hughes, embraced the ethos of startup culture and celebrated tech companies as a positive force in the United States. He developed personal relationships with executives like Zuckerberg and championed tech-friendly policies. Now, that era is over. In its place is something darker and dominated by a small but very loud group of techno-libertarian Trump fans whose ranks include not only Elon Musk but also the industrys most influential investors, most of the PayPal Mafia, and the vice president-elect. Does that mean the tech industry has taken a turn to the right? Is Silicon Valley Trump country now?It is neither left nor right, Democrat or Republican, Margaret OMara, an American history professor at the University of Washington, told me after the election. She pointed out that the tech industry culture in Silicon Valley has its roots in post-Vietnam baby boomers viewing personal computers as a form of liberation. They didnt feel like they had anything in common with political conservatives, but they shared a libertarianism that ran its way all the way across the political spectrum, OMara added. Its kind of a funny libertarianism.Tim Cook and other tech leaders met with Donald Trump, Peter Thiel, and other members of the transition team at Trump Tower on December 14, 2016. Albin Lohr-Jones/Getty ImagesYou get a sense of Silicon Valleys anti-bureaucratic worldview in everything from Apples famous 1984 ad, which quite literally suggests tearing down the establishment, to Googles celebrated 20 percent rule, which lets employees work on side projects of their own choosing. Theres also a more extreme version of this philosophy in the tech industry, especially lately, one that leans into anti-establishment thinking, which explains their affinity for crypto. These 21st-century techno-libertarians just want to be left alone to build things and make money. The tech executives busy kissing the ring this week are not necessarily part of this crowd. The Tim Cooks of the world are just doing business, and that requires doing business with the president of the United States, whomever it might be. After the tumultuous first Trump administration, these leaders learned that the president-elect responds best to flattery and praise. Theyve actually been sucking up to Trump for months in hopes that they might have some sway in the event of his return to office. This would be handy for many reasons. The Biden administration, in a break from Obama, has been tough on Big Tech. He appointed anti-monopoly legal star Lina Khan to chair the Federal Trade Commission, and she mounted multiple antitrust suits against the countrys biggest tech companies, including Amazon, Microsoft, and Meta. Now, Khan is currently waiting to see if shell keep her job, and the targets of those lawsuits may have an ally in Trump, who gets to decide Khans fate. In addition to less intense regulatory scrutiny, tech companies would also enjoy lower corporate taxes, which Trump has promised to provide. In my mind, this isnt a story about Silicon Valley overall and DC overall, said Robert Lalka, a professor at Tulane University. Instead, whats occurring now involves the influence of far fewer people: a very close-knit network of like-minded Trump supporters, especially if we focus on the PayPal Mafia, and the transformation of the Republican Party and its policy agenda.The PayPal Mafia refers to a group of entrepreneurs who worked at PayPal in its early days before going on to found or help build hugely influential tech companies. If you had to pick a godfather of the PayPal Mafia and hence the leader of this pro-Trump techno-libertarian political revolution it would be Peter Thiel. The PayPal co-founder donated over $1 million to Trumps campaign back in 2016 and spent $10 million to help JD Vance win a Senate seat in Ohio in 2022. Thiel also helped fund a project to establish autonomous, floating nations in international waters, where they would be free of all laws and regulations one reason he has been called the avatar of techno-libertarianism.The motivations of the techno-libertarians, also now known as techno-authoritarians, are more twisted. Elon Musk, who was also a PayPal co-founder, emerged this year as Trumps biggest supporter after donating nearly $119 million to his campaign through his America PAC and has made the promotion of free speech one of his missions. Free speech is also a big part of why, after accusing it of censorship, Musk bought Twitter in 2022 and turned it into X, where the promotion of right-wing propaganda and misinformation may or may not have helped Trump get elected too. Its not hard to see why Musk would benefit from a close relationship with the White House. The billionaire certainly didnt have much of a rapport with the Biden administration, which snubbed him at an electric vehicle summit, an incident that reportedly led Musk to embrace Trump. Musks rocket company, SpaceX, makes billions of dollars through government contracts, while his car company, Tesla, is lobbying for fewer regulations around self-driving cars as it attempts to launch a robotaxi business. Musks company Tesla Energy, formerly SolarCity, has received billions in subsidies over the years and surely looks to benefit from the federal governments continued investment in the energy transition. Meanwhile, Trump has promised Musk a role in his administration as the secretary of cost-cutting a position that doesnt yet exist, but one that Trump seems to be seriously entertaining.The other loud pro-Trump voices in Silicon Valley share a web of connections to each other and to Musk. Theres former PayPal COO and Musk pal David Sacks, who spoke at the Republican National Convention in July; Joe Lonsdale, who co-founded Palantir with Peter Thiel and helped launch Musks America PAC; and Marc Andreessen, who last year published the 5,200-word Techno-Optimist Manifesto that envisions tech leaders as keepers of the social order. Its worth noting that not every member of the PayPal Mafia has pledged allegiance to Trump. Reid Hoffman, another former PayPal COO and LinkedIn co-founder is a prominent Democratic Party fundraiser. He donated $7 million to pro-Harris and pro-Biden PACs, even though hes a vocal Lina Khan critic. He was also on a list of more than 100 venture capitalists who threw their support behind Harris leading up to the election.Donald Trump did a campaign stop at a crypto-themed bar in New York Citys West Village on September 18. Spencer Platt/Getty ImagesAnd then theres cryptocurrency.Andreessens VC firm announced in 2022 it was going all-in on crypto, a bet thats starting to pay off after two years of looking very foolish. Trump has promised to create a strategic cryptocurrency stockpile for the US government in his second term. Trumps general anti-regulation, pro-crypto stance sent Bitcoin and other cryptocurrencies soaring to all-time highs after election night, following a widely covered crypto winter that lasted a couple of years. You could argue that the crypto vote was vital to helping Trump and a lot of other Republican candidates win, too. The crypto industry has emerged as one of the most powerful lobbying forces in the country, pouring tens of millions of dollars into races against politicians they perceive to be anti-crypto and its working. So far, 48 candidates backed by pro-crypto PACs have won their races this year. Zero have lost. When you think of it that way, Trumps win on the back of techno-authoritarian billionaires seems less like a seismic shift in the politics of the tech industry and more like a bunch of one-issue voters who donated lots of money and got their way.I think a lot of it is about crypto, OMara said. Crypto is also tied in and always has been tied in to a broader worldview, which is one of libertarianism, deregulation, or privately regulated markets that are separate from government. She described this ethos as escaping the state.Now, the techno-libertarians are the state. The day after Trump declared victory, he asked Musk to join him on a call with Ukrainian President Volodymyr Zelenskyy. And in the coming months, several more members of the PayPal Mafia get to decide what US tech policy will be for the next four years. You have to wonder if they just want to tear it all down. Or maybe theyll get bored and move to a floating nation in international waters where there are no laws and never have been.Youve read 1 article in the last monthHere at Vox, we're unwavering in our commitment to covering the issues that matter most to you threats to democracy, immigration, reproductive rights, the environment, and the rising polarization across this country.Our mission is to provide clear, accessible journalism that empowers you to stay informed and engaged in shaping our world. By becoming a Vox Member, you directly strengthen our ability to deliver in-depth, independent reporting that drives meaningful change.We rely on readers like you join us.Swati SharmaVox Editor-in-ChiefSee More:

Using theMonarch personal finance program, I went through my finances recently and found that I pay $510 every month on various subscriptions. (Thats not counting things such as my Internet bill, $120 a month for AT&T 2Gbps fiber.) Im talking about Netflix, Google One,The Wall Street Journal, and other services and publications I actually want.But there were also over $100 worth of subscriptions that, frankly, Id forgotten aboutand no longer wanted or needed. Thats real money.So, how do I get rid of them? Today, I have to dig into every last lousy one of them and jump through numerous hoops to cancel but that may not be the case for much longer.The US Federal Trade Commission (FTC) last month announced aclick-to-cancel ruleaimed at making it easier for you and me to end recurring subscriptions and memberships. The new regulation requires sellers to make canceling services as simple as when you initially signed up for them.As FTC Commission Chair Lina M. Khan explained: Too often, businesses make people jump through endless hoops just to cancel a subscription. The FTCs rule will end these tricks and traps, saving Americans time and money. Nobody should be stuck paying for a service they no longer want.Amen, sister!The new regulations arent going to affect just Disney+ subscribers and the like. Businesses that rely on Software-as-a-Service (SaaS) as either users or providers are going to be affected as well.The new rule, which goes into effect six months after being published in the Federal Register, will have significant implications, for example, for providers like Google One and Microsoft 365.Heres how its likely to affect these services.For example, practices like requiring phone calls or in-person visits to cancel will no longer be allowed. If you think thats an exaggeration, by the way, you clearly havent had aPlanet Fitness subscription, which required snail-mail or an in-person visit to close out your membership.Additionally, SaaS providers must provide clear and conspicuous disclosures about subscription terms: For example, automatic renewal information must be clearly stated and cancellation deadlines by which customers must cancel to avoid charges must also be spelled out.Under these regulations, you can no longer automatically resubscribe customers. They must consent before automatic renewals take place. Clearly, businesses that use automatic renewals will have to change how theyll handle subscription renewals.If your business gets customers by offering free trials that convert to paid subscriptions, youll also need to clearly disclose the trials terms, including when the trial ends and what charges will occur. And, of course, canceling after a free trial must be as simple as signing up for the trial.All of this means, of course, that your company will have to update its terms and conditions. Youre going to have to pay your lawyers (as well as your programmers) to address these new rules.On the plus side, while none of this will be cheap, the FTC argues that customers will be happier and more likely resubscribe. And new transparent practices could even lead tostronger customer relationships.Not everyone is happy about the new regulations. Business organizations such as the Internet & Television Association (NCTA), the Interactive Advertising Bureau, and the US Chamber of Commerce oppose them. They have three major arguments: that the FTC doesnt have the legal authority to implement the rules; the change will cost companies money; and theyll force industries to change current cancellation processes that protect consumers or offer better deals.In other words, its exactly what youd expect them to say.Given the click-to-cancel rule is part of the Biden administrations efforts to combat junk fees, you might think its dead as a doornail. Usually, Id agree. But while Kahn has been alightning rod for both Democrats and Republicans, she has one ally you probably didnt expect; Vice President-elect J.D. Vance, who said: I look atLina Khan as one of the few people in the Biden administration that I think is doing a pretty good job,In addition,overall, the rule appears to be quite popular among consumers and consumer advocates. Lets get real. People are sick of perpetual subscriptions. Their budgets are tight. Even if the FTC regulation costs companies some coin, itll be worth it in the long run.

2nd RoundRiot is aiming to host 2XKO's next alpha lab beta test in Spring 2025Eager to jump back into 2XKO? You won't have to wait too long.Image credit: Riot Games News by Connor Makar Staff Writer Published on Nov. 11, 2024 Are you eager to jump back into 2XKO? Did you miss out the first time and want to try it out fresh-faced and eager? Well there's some good news! According to an official post by 2XKO game director Shaun Rivera, the team is aiming to set a 2nd Alpha Lab test in Spring 2025.This post, which you can read right now in full on Twitter, Rivera states that this playtest will be available in more regions than the first, which should be good news to those who were unable to take part initially. In addition, it'll impliment several key changes. This includes Jinx, who was just given her own gameplay trailer for the game today, as well as gameplay alterations including improved controls and decreased downtime.To see this content please enable targeting cookies. This, obviously, is good news. While 2XKO's Alpha Lab test went too a hit (as indicated by Rivera's post), players did leave the experience with some feedback for the game. And, with the game absent from Worlds 2024, we've not had a chance to see whether that feedback has been implimented. It seems like our first real chance to find out will come early next year. It's also worth noting that if you had access to the first Alpha Lab test, you don't need to sign up for the next one.With the game set for a vague 2025 release date, this expected Alpha Lab test also has me wondering how large the overall 2XKO package will be on release. With Jinx, that makes seven in total. At the pace they're being revealed and added to the game, what character total will 2XKO reach at 1.0?My bet is 10. You want an even number of characters for a 2v2 fighter, and at the pace we're seeing them come out the 10th reveal should land sometime in the 2nd half of next year. Or, I'm totally wrong and the 2XKO team shoot past it. That's the great thing about this bet, even if I lose I'm smiling. More characters would be lush.Are you excited to hop into 2XKO's next Alpha Lab test? Let us know below!

What's next!One of the best parts of Arcane Season 2? Its end-of-episode teases that make it near-impossible to stop watchingThe main plot is obviously brilliant, but it's those small scenes at the end that has me fiending for Act 2.Image credit: VG247 Article by Connor Makar Staff Writer Published on Nov. 11, 2024 I, like thousands of others out there, am absolutely enraptured by Arcane Season 2. As a fan of the first season, I was eager to sit down and watch the first act for an update on the misadventures of Jinx, Vi, and co. I expected the show to sink its hooks into me, but what I didn't expect was the majority of my anticipation to stem not from the core plot, but by the little stingers the writers placed at the end of each episode.(This article contains spoilers for Arcane season 2 Act 1)Cliffhangers are hard to do, that's no secret. The art of laying breadcrumbs for fans to speculate and excite themselves over is difficult, a treacherous balancing act between leaving things too vague and giving the game away. That said, I firmly believe the showrunner and rest of the narrative team on the show has managed to trapeze their way across this tightrope excellently. For that, they deserve their roses.To see this content please enable targeting cookies. It says a lot that in spite of the engaging primary story arc present in Act 1, my mind was left affixed to these little moments. Forget Jinx, what on earth is Singed up to? Off on some wacky adventure to the snowy wilderness, throwing gas grenades at murk wolves then setting up a blood transfusion on himself, apparently. It's about as far separated from the core plot as you can get, a bizzare escapade off screen while Caitlyn and Vi get all romantic and her gaggle black ops strike team are gassing up the place, but it hints towards unseen dangers.It's important that it doesn't distract from the main plot, and it doesn't. You could build walls around the first act and it would still be compelling as a sole story. A story of how loss leads people to do bad things, a tale as old as time. One could argue that setting up problems beyond this arc distracts from the overall arc narrative - I couldn't disagree more. If Act 2 were to start and Singed just showed up for the first time, it would seem rushed. Not to mention it would raise questions about what the lad was doing throughout the entirety of Act 1, and leave Singed lovers in shambles. This way, Act 2 can start running. The set-up is done. All that's left now is payoff, as this established and awfully tantalizing subplot crashes into the main narrative.It's just good planning, and good story structure. We League fans already know what Singed is cooking up, but for those unaware of the background context it makes for a big mystery in a season that seems delighted in its ability to float them in front of us viewers. It's just enough of a tease to lurk around the pending confrontation the Act ends on. We know trouble is coming, and we know who the big players are, but where Singed stands in all this remains unclear. A wildcard story point, one that throws a stone at what many expect will happen next Act.All in all, I'm sat here counting down the days to Act 2. Yes, I'm keen to see what happens with the major protagonists, the political pushes and pulls, and how relationships will form and break between the cast. But I'm also left with an intense feeling on anticipation around what new mysteries will being introduced to us. Arcane Season 2 has established that there's still many layers to Piltover and Zaun we don't know about, and seeing the showrunners slowly peel back these layers ultimately adds to a deeper, richer world to explore. I'm locked in.Season 2 of Arcane is set to release on Netflix on November 16 on Netflix, and Act 3 will follow it on November 23. Check it out if you haven't already! It's proven to be a very expensive show, so here's hoping it makes up the cost! Maybe the blue-ray will help.

Image: NintendoShigeru Miyamoto and Nintendo have lifted the lid on the upcoming Donkey Kong Country expansion, coming to Super Nintendo World in Osaka, Japan. And in today's Nintendo Direct, we finally know when the expansion is opening to the world 11th December 2024.We've had a few teasers sneak peeks at the park over the years, but this Direct gave us a really good look at what to expect. If you're lucky enough to be in Japan when it opens, well... we're pretty jealous!To get to the new park, you have to go through the 1Up store and walk through a tunnel covered in rocks and bricks. The new area is fantastic, sporting palm trees, Donkey Kong's treehouse, and the Golden Temple.Images: NintendoShowing us around the park, Miyamoto took us to a music-themed game using conga drums, where you'll need three people to team up and hit the drums in time with the lights. There's plenty of banana-flavoured food and drinks you can try (as well as a special hot dog which has avocado-flavoured sauce... hmm) as well as Funky's Fly and Buy, a store where you can buy lots of DK-related merch.Just like the main Super Nintendo World, there are also plenty of secrets that interact with the Power-Up Bands. But the big one will be familiar to Donkey Kong Country fans letters have been tucked away in the park, which you can "collect" and register on the Universal Japan app to spell out Kong.Inside the Golden Temple is a mine cart ride, and here's where you'll find lots of impressive animatronics for various Donkey Kong characters and companions. It looks like a chill little roller coaster and we're delighted Dixie is there to greet you. Could we get some Lanky Kong or King K. Rool though, Nintendo?Images: NintendoImages: NintendoThe Donkey Kong Country expansion was announced back in 2021 and was originally slated to open the barrel in Spring 2024, but it turns out, building parks takes a long time! At least we finally have a date. If you can't get to Japan this December, then don't worry, as Donkey Kong Country will be part of the Super Nintendo World opening at Universal Florida in 2025.If you want to watch the Direct, you can do by heading to Nintendo's YouTube channel.What do you think of the new expansion? Are you going to be in Japan when it opens up? Peel back your thoughts in the comments. Tune in for a 10-minute tourLet's-a gOrlandoLooking good![source youtube.com]Share:212 Alana has been with Nintendo Life since 2022, and while RPGs are her first love, Nintendo is a close second. She enjoys nothing more than overthinking battle strategies, characters, and stories. She also wishes she was a Sega air pirate. Hold on there, you need to login to post a comment...Related ArticlesNintendo Direct Announced For Super Nintendo World's Donkey Kong ExpansionTune in for a 10-minute tour

Image: SEGASonic Boom was one of the most ambitious projects Sega has ever undertaken with Sonic the Hedgehog. It was a full-throttle attempt at creating a brand-new sub-franchise for the blue blur, complete with new world, radically different character designs, and an accompanying animated series.Nintendo fans certainly had a lot to be excited about; the games would be Nintendo exclusives!But what was supposed to be a third pillar for the franchise crumbled to dust quicker than anyone could have anticipated. After a meagre three games, Sonic Boom was unceremoniously abandoned, leaving a black mark on the series and a legacy as one of Sonics biggest missteps.Believe it or not, 10 years have passed since Sonic Boom first hit store shelves. Has time been kind to the short-lived series? Are any aspects of the franchise worth revisiting today? Lets look back at the good, bad, and ugly of Sonic Boom.Boom times Images: SEGATrouble keeps you running fasterThe concept behind Sonic Boom wasnt terribly different than what weve seen elsewhere from the blue hedgehog.Sonic was still the snarky speedster hed always been, zipping around the world and thwarting Dr. Eggmans plans for world domination. Series mainstays Tails, Knuckles, and Amy were there too, though the personalities of the latter two were slightly tweaked from their game counterpartsfor better or worse.Amys annoyingly overbearing crush on Sonic was greatly reduced, making for a far more levelheaded character who typically acted as the voice of reason for the group. Knuckles undoubtedly underwent the biggest changes, both physically and mentally. His naivety and gullibility, traits that had become more and more pronounced for comedic effect over the years, shifted into full-blown stupidity. He was also given the most drastic redesign, with a new beefed-up body to match his more meatheaded personality.Rounding out the team was Sticks, an eccentric, boomerang-wielding jungle badger who acts as the wild card of the groupbrash, outspoken, and maybe a bit off her nut.Sonic Boom marked the first time Sega sought to create a branch of the franchise specifically for Western audiences, so much so that there was initially no intention to bring it to Japan at all (until they changed their minds). With Western sensibilities in mind, it only made sense for Western developers to tackle the new games. Who better, then, to take on the job than Big Red Button and Sanzaru Games, two companies well-versed in character-driven adventure games?Subscribe to Nintendo Life on YouTube784kBetween them, the teams had worked on the Crash Bandicoot, Jak and Daxter, Ratchet and Clank, and Sly Cooper series. Big Red Button would handle the Wii U title, Sonic Boom: Rise of Lyric, and Sanzaru would develop the 3DS game, Sonic Boom: Shattered Crystal.With such a pedigree behind them, fans were cautiously optimistic. Similar to games like Jak and Daxter and Uncharted, Rise of Lyric was given a much stronger emphasis on exploration and combat, allowing the characters individual personalities to shine more, with high-speed sections thrown in for good measure. Shattered Crystal placed a similar emphasis on exploration in a 2D sidescrolling space, which gave it a slightly more traditional feel than its 3D counterpart.The Ugly, the Bad & the GoodTape fear Image: SEGASo why did Sonic Boom stumble right out of the gate?The lions share of fans vitriol can be placed on Rise of Lyric. The Wii U game suffered from an incredibly rocky development cycle. It was planned for release on the latest consoles, but due to the aforementioned exclusivity deal with Nintendo, was shuffled over to Wii U. Unfortunately, Nintendos console was incompatible with the games engine, so significant changes needed to be made so that the game could even run properly on the system. The final result, while certainly playable, was a mishmash of hastily retooled ideas, unnecessary bloat, sluggish gameplay, and game-breaking bugs.Shattered Crystal fared better (Nintendo Life gave it a solid 6/10 back in 2014), but still failed to resonate with audiences due to its equally sluggish pace and bland gameplay. Ultimately, both games were colossal bombs, becoming the worst-selling titles in the franchises history.But hey, thats enough of the ugly and the bad. Sonic Boom had its good moments too, some of which still stand the test of time today.Subscribe to Nintendo Life on YouTube784kRunning alongside the games was an animated series that opted for a more comedic approach to Sonics adventures, showcasing various slice-of-life stories with action sprinkled in.Unlike the first two games, which are rarely, if ever, looked back on with fondness (or without), the Sonic Boom animated series is still regularly quoted and discussed today. Dont believe us? Search YouTube for Sonic Boom and see just how many compilations of the shows funny moments exist with well over a million views. The show even got a well-deserved complete series SteelBook release in 2022.A Sonic of Fire & Ice Image: SEGADespite the abysmal reception of the games, however, Sega wasnt ready to abandon the franchise quite yet. Instead, it looked at what worked and what didnt. With the 3DS title being the better received of the two, it was decided to use that as a basis for a follow-up, Sonic Boom: Fire & Ice, in 2016. Sanzaru Games tweaked the gameplay formula, cutting back the exploration aspects and giving this third game a much stronger emphasis on speed and platforming.It wasnt enough. Even with a surprisingly high-quality sophomore effort and a delightful TV show, Sonic Boom was quickly swept under the rug by Sega. The bold experiment was deemed a failure, casting a dark cloud over the franchise that would take years to dissipate.Not unlike the Sonic series as a whole, the quality of the Sonic Boom series fluctuated wildly from one product to the next. Rise of Lyric was a near unredeemable mess. Shattered Crystal was a mediocre slog, but had potential. Fire and Ice realised that potential with a much truer Sonic experience worth playing. And the TV show was just plain fun, quality entertainment.One cant help but wonder if Boom would have eventually found its footing had Sega given it more time to grow and learn from its missteps, especially with the franchises most recent well-received course corrections. But no sense dwelling on what could have been.If youll excuse us, we suddenly feel the urge to binge-watch some Sonic Boom funniest moments cartoon compilations on YouTube. Theyll be just as funny another 10 years from now.Subscribe to Nintendo Life on YouTube784k

Intudo, the Indonesia-only venture capital firm, said it has raised $125 million across two investment funds $75 million for Intudo Ventures IV, and $50 million for another fund that will invest in downstream natural resources and renewable energy.Intudo said Fund IV will invest in Indonesian startups that take advantage of the countrys location, digital advancements, and expanding middle-class population essentially those playing to the countrys strengths in consumer products, aquaculture and horticulture, as well as commercial distribution, regulatory, and deep tech startups. The other fund will be its first attempt to leverage Indonesias strong position in the global nickel and cobalt market to invest in natural resources and renewable energy.Identifying areas where Indonesia is competitive is essential for the country on a global scale, founding partner of Intudo, Eddy Chan, told TechCrunch.In Taiwan, its semiconductors going to the world. In Japan, electronics used to be prevalent. In Israel, its cybersecurity. SaaS in India. South Korea has K-pop. In Indonesia, we need to find more gold in aquaculture shrimp [farming], Chan said.Intudo typically writes checks between $1 million and $10 million, and is targeting a portfolio of 14-18 Indonesian companies, aiming to buy large stakes in each via Intudo Ventures IV, Chan said. He explained that in a typical Series A round, the firm will invest $3 million to $5 million for stakes of 20% to 30%.I think winning in Southeast Asia [requires] a small fund size and significant ownership In contrast, the market is currently dominated by many peers with $200 million or $300 million funds, but with ownership targets of only 10% to 15%, he said.Image credits: Induto VenturesMany of the funds in the market are Indonesia-focused, but we make the distinction that were Indonesia only. 100% of our funds investment is in Indonesia, said Patrick Yip, a founding partner at Intudo. The firm is finalizing a number of deals that it will disclose in the coming months, Yip added.Intudo said it caps each limited partners investment at 10% of the total fund size to ensure equitable treatment for all LPs and maintain its independent investment thesis.The new fund comes three years after the firm closed its third fund at $115 million. The firm seems to have broadened its LP base since then, receiving investments from institutions and family offices from the United States, Asia, Europe and the Middle East, including Netherlands-based Orient Growth Ventures and Singapore-based Black Kite Capital. More than 20 global funds and managing partners, 15 billionaires listed in Forbes and their related businesses, and over 30 influential families in Indonesia also invested, the firm said.Eighty percent of our deals are followed by our global LP base from Korea, Silicon Valley, Europe, the Middle East, Chan said.Before founding Intudo in 2017, Yip worked for a private equity firm, while Eddy Chan was a lawyer and ran his own startup. The firm has a team of 12 and more than $350 million in assets under management.Out of the new natural resources fund, Intudo has invested in CarbonEthics, an Indonesia-based developer of tech-enabled natural climate solutions.

While Indias urban population is shifting from mom-and-pop stores to quick commerce platforms, its rural side home to more than 800 million people still heavily relies on offline businesses for daily consumption. Wheelocity aims to transform that untapped market to let people living beyond the top 200 cities of the country easily shop online.The Chennai-headquartered startup, founded in September 2021, has pivoted from the earlier B2B supply chain business for quick commerce platforms into building a platform to solve e-commerce access for people living in semi-urban. and rural areas, commonly referred to as Bharat.For a long time, e-commerce giants Amazon and Walmart-owned Flipkart have tried to tap rural India to get deeper into the worlds second-biggest internet market after China. The region has also attracted startups including Meesho and Rozana. However, Wheelocity founder and CEO Selvam VMS told TechCrunch that none of them could crack that space due to the access problem.Our approach to solving this problem is extremely unique, he said in an interview. We are focused on building a 100x better alternative for our consumers.Wheelocity has begun the shift by providing freshly produced goods including vegetables and fruits and groceries through its app. However, unlike traditional e-commerce platforms that sell products online, the startup has taken a phygital approach. This includes electric three-wheelers to let the startup take its products into villages physically daily to help gain the trust of consumers. These vehicles let consumers place orders using Wheelocitys app and get deliveries on their doorstep.Once they get used to it, consumers will start using the Wheelocity app at home, VMS predicted.The executive added that, unlike Wheelocity, which offers doorstep deliveries daily, other e-commerce platforms use their take as long as a week to get products delivered in the same region. This makes it a challenge to deliver fresh consumable items and groceries.Wheelocity uses its existing supply chain, built for the earlier B2B business, to offer customers freshly produced goods and groceries faster. After procuring them from third parties including farmers, the products reach consumers with Wheelocitys branding.VMS sees the shift, which silently started in October 2023, as a $1 trillion-plus opportunity. He didnt disclose the business-related figures but said the startup had a very, very good retention.The startup currently offers its e-commerce platform in 3,500 villages in central Tamil Nadu and owns 1,000 electric vehicles to allow physical order-placing and deliveries. It has already established an operations office in Tamil Nadus tier-II city of Trichy to understand consumers buying behavior better and get their feedback. Next, it plans to scale the business to 20,000 towns and villages and expand it to all five southern states of India within the next 12 months, taking its platform to 10 million consumers.Lightspeed, Wheelocitys existing investor, has backed the latest move by leading its Series A2 round of $15 million. In July 2022, the VC fund had led the startups $12 million Series A round.Alteria Capital, Anicut Capital, and VMS also participated in Wheelocitys fresh round. Further, the round includes an undisclosed amount of debt, primarily to fuel the financing of its electric fleet.Lightspeed partner Rahul Taneja told TechCrunch that the VC fund decided to reinvest into Wheelocity as the market size was significantly large and untapped and the startup created a unique business model, which allows profitable coverage of the areas which were historically not possible.The founders quality and passion for building a profit-making business before pivoting also helped convince Lightspeed to close the deal, Taneja said.Moving focus to smaller towns and villages in India has been an emerging trend in the VC market, as consumers in those areas often have disposable income and intent to buy. Earlier this year, Accel also started looking at the region to hunt for future unicorns.

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