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“Are we being good ancestors?” should be the central question of our time

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Within a few days of the covid-19 lockdown in Oxford, UK, the street where philosopher Roman Krznaric lives had transformed. An email chain quickly morphed into a WhatsApp group with over 100 neighbors. Parents traded homeschooling tips and compared bread recipes. Food packages, coordinated via cell phone, were delivered to the  most vulnerable, and when Krznaric wanted to teach his 11-year-old twins Chinese calligraphy, two sets of brushes appeared on his doorstep. 

Krznaric sees in that mutual support the footprint of empathy, that ability to step into other people’s shoes in today’s world and understand their feelings and emotional needs. Having researched empathy for years, he has a trained eye for it. But as the covid-19 pandemic was raging in Europe and his WhatsApp group kept buzzing, he was pondering another question: Can humans make personal, empathetic connections with people we will never be able to meet and see? 

“If we want to be good ancestors, we should show future generations how we coped with an age of great change and great crises.”

Jonas Salk

“I had been writing books and lecturing and talking about empathy for many years,” says Krznaric, a self-proclaimed public philosopher. “But what I hadn’t thought about so much is this: How do we step into the shoes, not just across the space, but through time—with people in future generations?”

This question guides Krznaric’s book The Good Ancestor: How to Think Long Term in a Short‑Term World. It is a volume brimming with ideas about how to combat “our pathological short-termism,” as he calls it. In the age of the “buy now” button, we are collectively failing to acknowledge how climate change, resource overconsumption, and biodiversity loss are sentencing coming generations to live on a chaotic planet.

Empathy toward future generations is a way to think long. One can’t offer a cake, a hug, or words of support to people born in the 23rd century. But gifts and words are not the only means to convey care for another person, and as Krznaric writes, being a good Samaritan is no longer enough. The 21st century requires us to become good ancestors. 

good ancestor cover
The Good Ancestor: How to Think Long Term in a Short-Term World By Roman Krznaric; The Experiment, 2020, $25.95

The book was conceived and written before the pandemic, and Krznaric only managed to squeeze in a coronavirus-­related preface before sending it to print and turning, like many others, to homeschooling kids and rearranging routines. The year quickly became all about evictions, exhausted health workers, police brutality protests, and bankruptcies on Main Street. “In the midst of such an immediate threat, what insights does long-term thinking offer?” he wrote in his preface. 

A first lesson, says Krznaric, comes from the way countries with longer-term pandemic plans, like Taiwan or South Korea, have dealt with the virus more effectively than those with none, like the US.

Yet a deeper hint might come from Jonas Salk, the mid-20th-century virologist who coined the question-turned-maxim “Are we being good ancestors?” Salk might have recognized our frantic pursuit of a vaccine against covid-19 and the almost real-time news reports of lab trials, having risen to global fame for developing (and refusing to patent) the first effective vaccine against polio in 1955. Yet Salk always kept the long-term view. “If we want to be good ancestors,” he said in a 1967 speech, “we should show future generations how we coped with an age of great change and great crises.”

Krznaric calls this the paradox of urgency. “In the very immediate moment, we need to be thinking long-term because of the urgency of the climate crisis,” he says. From our vantage point of 2020, it’s impossible to see how well we’ll cope with the multiple crises of climate change, coronavirus pandemic, and authoritarianism. Krznaric is the first to admit it could go either way: authoritarian regimes might try to cling to emergency powers they have granted themselves, while progressive cities like Amsterdam are actively reshaping their economies toward sustainability. Yet in the middle of the hurt and the economic suffering from covid-19, “something has happened to our sense of time,” he says. “It has enabled a moment to take stock.” 

Lyron Foster is a Hawaii based African American Musician, Author, Actor, Blogger, Filmmaker, Philanthropist and Multinational Serial Tech Entrepreneur.

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What to make of Stripe’s possible $100B valuation

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This is The TechCrunch Exchange, a newsletter that goes out on Saturdays, based on the column of the same name. You can sign up for the email here.

Welcome to a special Thanksgiving edition of The Exchange. Today we will be brief. But not silent, as there is much to talk about.

Up top, The Exchange noodled on the Slack-Salesforce deal here, so please catch up if you missed that while eating pie for breakfast yesterday. And, sadly, I have no idea why Palantir is seeing its value skyrocket. Normally we’d discuss it, asking ourselves what its gains could mean for the lower tiers of private SaaS companies. But as its public market movement appears to be an artificial bump in value, we’ll just wait.

Here’s what I want to talk about this fine Saturday: Bloomberg reporting that Stripe is in the market for more money, at a price that could value the company at “more than $70 billion or significantly higher, at as much as $100 billion.”

Hot damn. Stripe would become the first or second most valuable startup in the world at those prices, depending on how you count. Startup is a weird word to use for a company worth that much, but as Stripe is still clinging to the private markets like some sort of liferaft, keeps raising external funds, and is presumably more focused on growth than profitability, it retains the hallmark qualities of a tech startup, so, sure, we can call it one.

Which is odd, because Stripe is a huge concern that could be worth twelve-figures, provided that gets that $100 billion price tag. It’s hard to come up with a good reason for why it’s still private, other than the fact that it can get away with it.

Anyhoo, are those reported, possible prices bonkers? Maybe. But there is some logic to them. Recall that Square and PayPal earnings pointed to strong payments volume in recent quarters, which bodes well for Stripe’s own recent growth. Also note that 14 months ago or so, Stripe was already processing “hundreds of billions of dollars of transactions a year.”

You can do fun math at this juncture. Let’s say Stripe’s processing volume was $200 billion last September, and $400 billion today, thinking of the number as an annualized metric. Stripe charges 2.9% plus $0.30 for a transaction, so let’s call it 3% for the sake of simplicity and being conservative. That math shakes out to a run rate of $12 billion.

Now, the company’s actual numbers could be closer to $100 billion, $150 billion and $4.5 billion, right? And Stripe won’t have the same gross margins as Slack .

But you can start to see why Stripe’s new rumored prices aren’t 100% wild. You can make the multiples work if you are a believer in the company’s growth story. And helping the argument are its public comps. Square’s stock has more than tripled this year. PayPal’s value has more than doubled. Adyen’s shares have almost doubled. That’s the sort of public market pull that can really help a super-late-stage startup looking to raise new capital and secure an aggressive price.

To wrap, Stripe’s possible new valuation could make some sense. The fact that it is still a private company does not.

Market Notes

Various and Sundry

And speaking of edtech, Equity’s Natasha Mascarenhas and our intrepid producer Chris Gates put together a special ep on the education technology market. You can listen to it here. It’s good.

Hugs and let’s both go do some cardio,

Alex

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How Ryan Reynolds and Mint Mobile worked without becoming the joke

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In the past decade, celebrity interest and investment in tech companies has significantly increased. But not all celebrity investments are created equally. Some investors, like Ashton Kutcher, have prioritized the VC pursuits. Some have invested casually without getting overly involved. Others have used their considerable platforms to market their portfolio to varying degrees of success.

It’s been a little over a year since Ryan Reynolds bought a majority stake in Mint Mobile, a deal that has already had a dramatic impact on the the MVNO (mobile virtual network operator).

The four-year-old company has seen a tremendous amount of growth, boosting revenue nearly 50,000% in the past three years. However, the D2C wireless carrier has seen its highest traffic days on the backs of Reynolds’ marketing initiatives and announcements.

There is a long history of celebrities getting involved with brands, either as brand ambassadors or ‘Creative Directors’ without much value other than the initial press wave.

Lenovo famously hired Ashton Kutcher as a product engineer to help develop the Yoga 2 tablet, on which I assume you are all reading this post. Alicia Keys was brought on as BlackBerry’s Global Creative Director, which felt even more convoluted a partnership than Lady Gaga’s stint as Polaroid’s Creative Director. That’s not to say that these publicity stunts necessarily hurt the brands or the products (most of the time), but they probably didn’t help much, and likely cost a fortune.

And then there are the actual financial investments, in areas where celebrities fundamentally understand the industry, that still didn’t get to ‘alpha.’

Even Jay-Z has struggled to make a music streaming service successful. Justin Bieber never really got a selfie app off the ground. Heck, not even Justin Timberlake could breathe life back into MySpace. Reynolds seemingly has an even heavier lift here. It’s hard to imagine a string of words in the English language less sexy than, “mobile virtual network operator.”

Reynolds tells TechCrunch that he viewed celebrity investments as a kind of “handicapping,” prior to the Mint acquisition.

“I’ve just sort of seen how most celebrities are doing very, very well,” he explains. “We’re generally hocking or getting behind or investing in luxury and aspirational items and projects. Then George and I had a conversation about a year-and-a-half ago, maybe longer, about what if we swerved the other way? What if he kind of got into something that was hyper practical and just forget about the sexy aspirational stuff.”

Mint isn’t Reynolds’ first entrepreneurial venture. He bought a majority stake in Portland-based Aviation Gin in 2018, which recently sold for $610 million. He also cofounded marketing agency Maximum Effort alongside George Dewey, which has made its own impact over the past several years.

Maximum Effort was founded to help promote the actor’s first Deadpool film. Reynolds and Dewey had come up with several low-budget spots to get people excited about an R-rated comic book movie. The bid appears to have worked. The film raked in $783.1 million at the box office — a record for an R-rated film that held until the 2019 release of Joker.

Maximum Effort (and Reynolds) was also behind the viral Aviation Gin spot, which poked fun at the manipulative Peloton ad that aired last year around the holidays. The same actress who portrayed a woman seemingly tortured by her holiday gift of a Peloton sits at a bar with her friends, shell-shocked, sipping a Martini.

The original ad on YouTube, not counting recirculation by the media, has more than 7 million hits. Reynolds calls it ‘fast-vertising’.

“We get to react,” he told TechCrunch. “We get to acknowledge and play with the cultural landscape in real time and react to it in real time. There isn’t any red tape to come through, because it’s just a matter of signing off on the approval. So in a way, it’s unfair, in that sense, because most big corporations, they take weeks and weeks or months to get something approved. Our budgets are down and dirty, fast and cheap.”

He explained that this type of real-time marketing is only possible because he’s the owner of Maximum Effort (and in some cases of the client businesses, as well), but because there is no red tape to cut through when a great idea presents itself.

Reynolds has brought this marketing acumen to Mint Mobile in a big way. Last year during the Super Bowl, Reynolds took out a full page ad in The New York Times, explaining that the decision to spend $125,000 on a print ad instead of $5 million+ on a Super Bowl commercial would enable the prepaid carrier to pass the savings on to consumers.

In October, Reynolds spun Mint’s 5G launch into another light-hearted spot. He brought on the head of mobile technology to explain what 5G actually is, and after hearing the technical explanation, happily said “We may never know, so we’ll just give it away for free.”

Mint also released a holiday ad just a couple of weeks ago warning of wireless promo season, wherein large wireless carriers may try to lure customers into expensive contracts using new devices. Standing over a bear trap, Reynolds dryly states: “At Mint Mobile, we don’t hate you.”

Reynolds enjoys nearly 17 million Twitter followers and more than 36 million Instagram followers. He uses both platforms to promote his various brands without alienating his followers. Moreover, he doesn’t exclusively promote his brands on social media, but weaves in his own funny personal commentary or gives followers a peek into his marriage with Blake Lively, which we can all agree is #relationshipgoals.

Mint Mobile partners exclusively with T-Mobile to provide service, and unlike some other MVNOs, it uses a direct-to-consumer model, foregoing any physical footprint. Plans start at $15/month and top out at $30/month. CMO Aron North says that Reynolds’ ownership and involvement with Mint Mobile is “absolutely critical.”

“Ryan is an A plus plus celebrity, and he’s very funny and entertaining and engaging,” said North. “His reach has given us a much bigger platform to speak on. I would say he is absolutely critical in our success and our growth.”

We asked Reynolds if he has any specific plans for further tech investment, or if there are any trends he’s keeping an eye on. He explained that his motivations are not purely capitalistic.

“I’m really focused on community and bringing people together,” said Reynolds. “We think it’s super cool to bring people together, particularly in a world that is very divisive. Even in our marketing, we try to find ways to have huge cultural moments without polarizing people without dividing people without saying one thing is wrong.”

In one of the company’s more notable recent spots, Reynolds enlisted the help of iconic comedian, Rick Moranis. It was an impressive coup, given the actor’s seeming retreat from the public eye, turning down two separate Ghostbusters film reboots.

“It’s funny what happens when you just ask,” says Reynolds. “I explained that people genuinely miss him and his performances and his energy. And he, for whatever reason, said yes, and the next thing I know, six days later, we were out of there in 15, 20 minutes and we shot our spot.”

Of course, it didn’t escape the internet’s notice that two well-known Canadian actors were standing in a field, selling a U.S.-only wireless service.

“I would love to see [Mint] in Canada,” Reynolds says. “There’s a Big Three here that’s challenging to crack. I don’t pretend to know the telecom business well enough to say why, how or what the path forward would be there. I see basically a tsunami of feedback from Canada, asking ‘why can’t we have this here?’ I think it’s sexy. It’s pragmatic and sexy. That’s why I got involved with it.”

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Original Content podcast: Just don’t watch Netflix’s ‘Holidate’ with your parents

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You might think that a new Netflix film called “Holidate” offers holiday-themed romance that’s perfect for a family watch party. You’d be wrong.

The film stars Emma Roberts and Luke Bracey as a pair of strangers who agree (in classic romantic comedy style) to keep each other company on holidays.

And while the movie can’t be completely pigeonholed as a raunchy comedy — it also includes a dash of metatextual commentary, with a healthy dose of undiluted romantic schmaltz — “Holidate” is certainly filled with sexually frank dialogue, and a couple of its biggest set pieces go all-in on gross-out humor. So, and as one of the hosts of the Original Content podcast discovered, watching it with your family can be extremely uncomfortable.

But, assuming you avoid that awkwardness, is it actually funny? Sometimes! A word that comes up repeatedly in our review is “adequate” — Darrell embraced the film’s surprisingly dirty humor, while Anthony and Jordan were at least mildly entertained.

In addition to reviewing “Holidate,” we also discussed the implications of Netflix’s decision to remove “Chappelle’s Show” at Dave Chappelle’s request.

You can listen to our review in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also follow us on Twitter or send us feedback directly. (Or suggest shows and movies for us to review!)

If you’d like to skip ahead, here’s how the episode breaks down:
0:00 Intro
1:11 Dave Chappelle discussion
13:50 “Holidate” review
37:39 “Holidate” spoiler discussion

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