How the Valley can get philanthropy right with former Hewlett Foundation president Paul Brest – gpgmail


Paul Brest didn’t set out to transform philanthropy. A constitutional law scholar who clerked for Supreme Court Justice John Harlan and is credited with coining the term “originalism,” Brest spent twelve years as dean of Stanford Law School.

But when he was named president of the William & Flora Hewlett Foundation, one of the country’s largest large non-profit funders, Brest applied the rigor of a legal scholar not just to his own institution’s practices but to those of the philanthropy field at large. He hired experts to study the practice of philanthropy and helped to launch Stanford’s Center for Philanthropy and Civil Society, where he still teaches.

Now, Brest has turned his attention to advising Silicon Valley’s next generation of donors.

From Stanford to the Hewlett Foundation

Photo by David Madison / Getty Images

Scott Bade: Your background is in constitutional law. How did you make the shift from being dean at Stanford to running the Hewlett Foundation as president?

Paul Brest: I came into the Hewlett Foundation largely by accident. I really didn’t know anything about philanthropy, but I had been teaching courses on problem-solving and decision making. I think I got the job because a number of people on the board knew me, both from Stanford Law School, but also from playing chamber music with Walter and Esther Hewlett.

Bade: When was this?

Brest: I started there in 2000. Bill Hewlett died the year after I came. Walter Hewlett, Bill’s son, was chair of the board during the entire time I was president. But it’s not a family foundation.

Bade: What were your initial impressions of the foundation and the broader philanthropic space?

Brest: Not having come from the non-profit sector, it took me a year or so to really understand what it [meant] to use our assets in each area in a strategic way.  The [Hewlett] Foundation had very good values in terms of the areas it was supporting — the environment, education, population, women’s reproductive rights. It had good philanthropic practices, but it was not very strategically focused. It turned out that not very many foundations were strategic.

Paul’s framework for thinking about philanthropy

Paul informal photo

Photo provided by Paul Brest

Bade: What do you mean by ‘strategic’?

Brest: What I mean [by] strategic is having clear goals and having an evidence-based, evidence-informed strategy for achieving them. Big foundations tend to be conglomerates with different programs trying to achieve different goals.

[Being strategic means] monitoring progress as you work towards those goals. Then evaluating in advance whether the strategy is going to be plausible and then whether you’re actually achieving the outcomes you’re trying to achieve so that you can make course corrections if you’re not achieving.

[For example,] the likelihood that the roughly billionaire dollars or more that have been spent or committed to climate advocacy are going to have any effect is quite low. The place where metrics comes in is just having kind of an expected return mindset where yes, the chances of success are low, but we know that the importance of success — or putting it differently, the effects of failure — are going to be catastrophic.

What a strategic mindset does here is say: it’s worth taking huge bets even where the margins of error of the likelihood of success are very hard to measure when the results are huge.

I don’t want to say the [Hewlett] Foundation was anti-strategic, or totally unstrategic, but it really had not developed a [this kind of] systematic framework for doing those things.

Bade: You’re known in the philanthropic community for putting an emphasis on defining, achieving, measuring impact. Have those sort of technocratic practices made philanthropy better?

Brest: I think you have to start by asking, what would it mean for philanthropy to be good? From my point of view, philanthropy is good when I like the goals it chooses. Then, given a good goal, when it is effective in achieving that goal. Strategy really has nothing to say about what the goals are, but only how effective it is.

My guess is that 90 plus percent of philanthropy is intended to achieve goals that most of us think are good goals. There are occasions when you have direct conflicts of goals as you do with say the anti-abortion and the choice movements, or gun control and the NRA. Those are important arguments.

But most philanthropy is trying to improve education or improve the lives of the poor. My view is that philanthropy is good when it is effective in achieving those goals, and trying to do no harm in the process.

Current debates on philanthropy


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Kenshō, ‘the antithesis of Goop,’ launches a research-based guide to natural medicine – gpgmail


Goop is cashing in on pseudoscience and, in the process, giving natural health practices a bad name. Krista Berlincourt, the co-founder and chief executive officer of a new startup, Kenshō Health, hopes she can take back the narrative.

“We’re the antithesis of Goop,” Berlincourt, a fintech veteran who previously led marketing and product at Simple Finance, tells gpgmail. “What we are creating is less of a consumer magazine. We are a holistic health platform that approaches things as more of a holistic health medical journal — everything is backed by science.”

Kenshō, launching today, is an invite-only subscription-based platform for holistic healthcare providers to list their services and share knowledge. The startup has also collected information to construct a research-backed guide to holistic health, something the team believes has been missing from the natural health sector.

Berlincourt and Kenshō co-founder Danny Steiner, who previously worked at NBC Universal, Conde Nast and Hulu before pivoting to health and wellness, have raised $1.3 million in seed funding from Crosscut, a Los Angeles-based venture capital firm, and Female Founders Fund. The pair, based in the LA area, have both suffered from chronic illnesses that had them in and out of doctor’s offices for years.

“I had two years of working with a team of incredible Western physicians and then I had a crash that landed me in the ER. That’s when I realized, OK, this isn’t working,” Berlincourt said. “When you’re caring for yourself or someone you love, there are standards. I am focused on elevating and creating those standards in a way that can be better advised.”

The global wellness economy represented a $4.2 trillion market in 2017, according to The Global Wellness Institute, as subcategories like personalized medicine, healthy eating and fitness/mind-body accelerate growth.

Kenshō, nestled in the personalized and complementary medicine category, says it ensures all of the care providers featured on its platform are 100% validated. Before being allowed to list their services, providers complete a background check and their provider credentials are verified. Kenshō then affirms the providers use research-backed methods and that they have vetted peer references and clients who can provide positive feedback.

Kenshō’s launch features providers from Stanford University, Harvard University, Columbia University and more.

“When you look at health as a whole today in the U.S., we only treat the physical,” Berlincourt explains. “The reason that is destructive is 70% of death is premature and lifestyle related. We are dying faster and people are dying more quickly, generally speaking, as the world turns.”

Many, of course, are skeptical of natural care practices because they can be untested or dependent on unscientific principles. Additionally, holistic care often forces patients to pay out-of-pocket. Nonetheless, patients across the globe are turning to non-traditional methods.

”There’s been a massive shift in the zeitgeist in the way people look at health,” she adds. “One in three people have paid for supplemental care out of pocket from a holistic health provider.”


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Kaszek Ventures raises $600 million in two funds as Latin America’s startup market booms – gpgmail


Kaszek Ventures, the investment firm that has been one of the primary architects of the recent boom in startup financing and growth in Latin America, has just raised $600 million across two new funds.

The new commitments (raised in roughly two months) put Kaszek’s total capital under management at roughly $1 billion, making the firm the first local early stage investor to hit that milestone.

In the eight years since Hernan Kazah and Nicolas Szekasy launched Kaszek Ventures in 2011 the startup ecosystem in Latin America has experienced a renaissance, with investments in the region surging to nearly $2 billion in 2018.

Much of that growth has come on the back of Kaszek portfolio companies like Gympass, the provider of corporate-sponsored gym memberships and perks; Konfio, the Mexican small business lending platform; Nubank, the Brazilian consumer credit company now worth roughly $10 billion; and Loggi, the Latin American logistics company with the billion-dollar valuation.

For Kazah and Szekasy, the growth of their nearly eponymous venture fund marks a successful reinvention of two of the most prominent executives of Latin America’s most highly valued tech startup, MercadoLibre.

The former chief operating officer and chief financial officer of the region’s leading e-commerce marketplace, initially launched their firm to see if they could replicate their success as entrepreneurs from the other side of the table and bring the expertise and wisdom they’d amassed from their time running what is now a $29.2 billion dollar company (by market capitalization).

“We thought we could identify many more MercadoLibres and identify teams that were outstanding and would have a very ambitious vision in a very large market,” says Szekasy. “I thought I could have more impact if I moved and started working on the investing side.”

The first fund was a relatively modest $95 million investment vehicle, but one of its first investments would go on to show the potential for outsized returns that existed in the Latin American market. That company would be Nubank, and Kaszek was among the first money into the company (alongside Sequoia Capital) when it was little more than a pitch deck and an entrepreneur — David Velez.

“They had very relevant experience in scaling a tech company to multiple countries in the region,” says Velez of the decision to take cash from Kaszek. In the early days, the firms partners were involved in all stages of the company’s growth, helping recruit talent like country managers in different regions, to localizing the pitch for different countries. “They were very active also and continue to be very active around marketing and product. They helped us develop our first website and craft our pitch to consumers and eventually develop a lot of the digital marketing muscle,” Velez says. 

The local knowledge that Kaszek provided was a great compliment to the global perspective that Sequoia brought to the table, says Velez.

For Matias Muchnick, a co-founder and chief executive of NotCo, the experience of Kaszek’s founders and the breadth of their network provided incalculable help as the company expanded beyond Chile to Latin America more broadly — and as it was fundraising.

From a Kaszek-sponsored retreat at Stanford University, Muchnick was introduced to a professor who became an advisor to the company. The professor then put Muchnick in touch with Bezos Expeditions through a connection and the firm wound up investing.

Nubank may have been the firm’s first success story to come from its portfolio, but Kaszek would notch multiple other wins from its later funds.

Standouts from the firm’s $200 million third investment vehicle include the The Not Co, a new food company working on a range of products from vegetarian ice cream and mayonnaise to replacement meat patties. That company managed to attract the attention of Jeff Bezos and his Bezos Expeditions investment fund. Two other standouts in Mexico are Kavak, a car marketplace and Credijusto, an online lending company which raised $42 million from Goldman Sachs and other investors earlier today. 

Now the firm has added to its firepower with the close of a $375 million main fund and its first “Opportunity Fund” a $225 million investment vehicle that will enable the company to maintain its stakes in later stage companies as they raise increasingly large rounds.

Kazah expects that the firm will invest a bit larger amounts in roughly the same number of companies, with the fund making between 25 and 30 new investments, he said.

And increasingly large rounds are becoming the norm in Latin America just as they’ve done in other rapidly maturing technology ecosystems.

Screen Shot 2019 08 29 at 7.02.31 AM

Chart courtesy of Crunchbase News

That rapid growth has been parlayed into returns that represent an 8x multiple on invested capital for the first Kaszek Ventures fund, a 5x multiple on the second fund, and a 2x return for the firm’s third fund — already, according to a person familiar with the firm. 

“We have been investors in Kaszek Ventures since 2011 and are thrilled to continue this partnership” said Du Chai, Managing Director at Horsley Bridge Partners, in a statement. “Kaszek has been a top performer while building a great platform with talented individuals.”

In part, Kaszek’s success is an extension of broader macroeconomic trends that were bound to transform the region, according to Szekasy.

“We were looking at Silicon Valley and looking at what was happening in China and saw that Latin America was a very large region with a large population and GDP and the right demographics and a fast pace of adoption of new technologies,” says Szekasy.

One of those new technologies that helped speed up the adoption of new technology services across Latin America was the rollout of 4G, says Kazah.

Screen Shot 2019 08 29 at 7.40.18 AM

The mobile internet was always going to be the way that Latin Americans went online, thanks to the penetration of mobile phones across the continent. But high speed internet transformed the types of companies and services that could be on offer, Kazah says.

“In 2011 we had 10% 4G penetration… now more than 90% of the cell phones purchased have been cellphones with 4G access,” according to Kazah. “That really changed the entire ecosystem… companies can aspire to have more sophisticated products… in the last couple of years they started to accelerate their growth.. We finally got to a point where there’s critical mass.”

Not only has the technology improved, but increasing political stability and the rise of a middle class market in countries like Colombia and Mexico mean that there’s more opportunities for new businesses in countries across the continent.

Brazil has always been an economic powerhouse, but now Mexico, Colombia and even countries like Argentina and Chile are showing signs of increasingly vibrant startup ecosystems.

Attention from international investors is also helping to drive the region to new heights. Earlier this year Softbank announced that it would create a new Latin America fund with $5 billion to invest in startup companies. DST and Tiger Global are also active investors in the region.

“One of the reasons Latin America was lagging was that the region was not at a critical mass inflection point technologically, but it was also the lack of capital,” says Kazah. “Softbank on the one hand provides capital but  on the other hand it has opened the eyes of others as well.”

 


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Flexible stick-on sensors could wirelessly monitor your sweat and pulse – gpgmail


As people strive ever harder to minutely quantify every action they do, the sensors that monitor those actions are growing lighter and less invasive. Two prototype sensors from crosstown rivals Stanford and Berkeley stick right to the skin and provide a wealth of phsyiological data.

Stanford’s stretchy wireless “BodyNet” isn’t just flexible in order to survive being worn on the shifting surface of the body; that flexing is where its data comes from.

The sensor is made of metallic ink laid on top of a flexible material like that in an adhesive bandage. But unlike phones and smart watches, which use tiny accelerometers or optical tricks to track the body, this system relies on how it is itself stretched and compressed. These movements cause tiny changes in how electricity passes through the ink, changes that are relayed to a processor nearby.

Naturally if one is placed on a joint, as some of these electronic stickers were, it can report back whether and how much that joint has been flexed. But the system is sensitive enough that it can also detect the slight changes the skin experiences during each heartbeat, or the broader changes that accompany breathing.

The problem comes when you have to get that signal off the skin. Using a wire is annoying and definitely very ’90s. But antennas don’t work well when they’re flexed in weird directions — efficiency drops off a cliff, and there’s very little power to begin with — the skin sensor is powered by harvesting RFID signals, a technique that renders very little in the way of voltage.

The second part of their work, then, and the part that is clearly most in need of further improvement and miniaturization, is the receiver, which collects and re-transmits the sensor’s signal to a phone or other device. Although they managed to create a unit that’s light enough to be clipped to clothes, it’s still not the kind of thing you’d want to wear to the gym.

The good news is that’s an engineering and design limitation, not a theoretical one — so a couple years of work and progress on the electronics front and they could have a much more attractive system.

“We think one day it will be possible to create a full-body skin-sensor array to collect physiological data without interfering with a person’s normal behavior,” Stanford professor Zhenan Bao in a news release.

Over at Cal is a project in a similar domain that’s working to get from prototype to production. Researchers there have been working on a sweat monitor for a few years that could detect a number of physiological factors.

SensorOnForehead BN

Normally you’d just collect sweat every 15 minutes or so and analyze each batch separately. But that doesn’t really give you very good temporal resolution — what if you want to know how the sweat changes minute by minute or less? By putting the sweat collection and analysis systems together right on the skin, you can do just that.

While the sensor has  been in the works for a while, it’s only recently that the team has started moving towards user testing at scale to see what exactly sweat measurements have to offer.

RollToRoll BN 768x960“The goal of the project is not just to make the sensors but start to do many subject studies and see what sweat tells us — I always say ‘decoding’ sweat composition. For that we need sensors that are reliable, reproducible, and that we can fabricate to scale so that we can put multiple sensors in different spots of the body and put them on many subjects,” explained Ali Javey, Berkeley professor and head of the project.

As anyone who’s working in hardware will tell you, going from a hand-built prototype to a mass-produced model is a huge challenge. So the Berkeley team tapped their Finnish friends at VTT Technical Research Center, who make a specialty of roll-to-roll printing.

For flat, relatively simple electronics, roll-to-roll is a great technique, essentially printing the sensors right onto a flexible plastic substrate that can then simply be cut to size. This way they can make hundreds or thousands of the sensors quickly and cheaply, making them much simpler to deploy at arbitrary scales.

These are far from the only flexible or skin-mounted electronics projects out there, but it’s clear that we’re approaching the point when they begin to leave the lab and head out to hospitals, gyms, and homes.

The paper describing Stanford’s flexible sensor appeared this week in the journal Nature Electronics, while Berkeley’s sweat tracker was in Science Advances.


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Lumineye helps first responders identify people through walls – gpgmail


Any first responder knows that situational awareness is key. In domestic violence disputes, hostage rescue, or human trafficking situations, first responders often need help determining where humans are behind closed doors.

That’s why Megan Lacy, Corbin Hennen and Rob Kleffner developed Lumineye, a 3D printed radar device that uses signal analysis software to differentiate moving and breathing humans from other objects, through walls.

Lumineye uses pulse radar technology that works like echolocation (how bats and dolphins communicate). It sends signals and listens for how long it takes for a pulse to bounce back. The software analyzes these pulses to determine the approximate size, range and movement characteristics of a signal.

On the software side, Lumineye’s app that will tell a user how far away a person is when they’re moving and breathing. It’s one dimensional, so it doesn’t tell the user whether the subject is to the right or left. But the device can detect humans out to 50 feet in open air, and that range decreases depending upon the materials placed in between like drywall, brick or concrete.

One scenario the team gave to describe the advantages of using Lumineye was the instance of hostage rescue. In this type of situation, it’s crucial for first responders to know how many people are in a room and how far away they are from one another. That’s where the use of multiple devices and triangulation from something like Lumineye could change a responding team’s tactical rescue approach.

Machines that currently exist to make these kind of detections are heavy and cumbersome. The team behind Lumineye was inspired to manufacture a more portable option that won’t weigh teams down during longer emergency response situations that can sometimes last for up to 12 hours or overnight. The prototype combines the detection hardware with an ordinary smartphone. It’s about 10 x 5 inches and weighs 1.5 pounds.

Lumineye wants to grow out its functionality to become more of a ubiquitous device. The team of four is planning to continue manufacturing the device and selling it directly to customers.

 

Lumineye’s device can detect humans through walls using radio frequencies

Lumineye has just started its pilot programs, and recently spent a Saturday at a FEMA event testing out the the device’s ability to detect people covered in rubble piles. The company was born out of Stanford’s Hacking4Defense program, a course meant to connect Silicon Valley innovations with the U.S. Department of Defense and Intelligence Community. The Idaho-based startup is graduating from Y Combinator’s Summer 2019 class.

Lumineye TeamPicture 1

Megan Lacy, Corbin Hennen and Rob Kleffner


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