As winter comes on, the holidays are getting closer. Following tradition, we provide you with a monthly summary of noteworthy …
AUGUST TECH NEWS OVERVIEW
The revolutionary future of quantum computing, HR automation software, Tim Cook and his empire, ransomware attacks, and how the world is fighting them read on.
Quantum changes corporate software
Back in 1975, in one of the issues of Popular Electronics, the development history of home computers began. It was a set of minicomputers for the Altair 8800, the exact opposite of large industrial equipment the size of a room. It was read by Paul Allen and Bill Gates, who were laying the foundation for Microsoft. Such a breakthrough accompanied the beginning of a significant era that the technology industry was struggling with.
Today, things are the same with quantum computing: the modern revolutionary 65-qubit quantum computer, considered advanced by 2023, promises to increase its power to 1000.
Almost every startup founder is convinced that this is Unicorn, but usually, this is not the case in reality. In quantum computing, the situation is entirely different: innovative scientific trends allow you to build a curve of exponential growth of the influence. Investors are ready to bet on the development of such computers as a potential solution to their most complex problems. While this may take over ten years, such a forward-looking approach holds the promise of a breakthrough in the future.
Sora Startup Raises $ 14M series A funding
Sora, an HR automation software company, has announced the completion of its series A funding round. Two Sigma Ventures was marked with an investment of $ 10 million. Recall that the seed round in July 2020 was collected by Laura Del Beccaro, CEO of $ 5.3 million.
After finding its early popularity, Sora’s CEO Laura Del Beccaro noted that the company had increased its initial round to gain a foothold in the market. The pandemic has had a significant impact on HR teams: not only the hybrid jobs were created, but hiring was also done through Zoom. As a result, the company has increased the number of customers sevenfold.
Why did Sora find a response? Above all, it helps HR departments make standardized processes for each task while centralizing and transferring data to heterogeneous software tools. Automatic emails from HR allow you to maintain and develop collaboration with other departments and other businesses. Sora’s mission is to reduce routine work, save time and eliminate mistakes (for example, during staff adaptation).
The company’s target customer base is primarily large companies with over 100 employees, although some smaller ones are achieving good results and becoming faster. One of the favorable factors for a startup is reducing the number of employees – the more staff turnover, the more operational work is entrusted to HR. Sora, on the other hand, will allow you to automate established work tasks.
Despite the popularity and capacity of the company, its staff is only 11 people. The new funds will allow it to double the staff next year.
What happened to Tim Cook’s empire in 10 years?
Tim Cook’s corporate transition to CEO was like no other. He stepped out of Steve Jobs’s shadow two months before his death and took over the reins of tech giant Apple. Since then, the market capitalization has grown by 600% equaling approximately $ 2.5 trillion. Today it’s the most valuable and influential company globally, whose devices are used by more than a billion people worldwide, and tens of millions of developers are building their own business using its software.
Cook became famous for creating an extended Apple ecosystem – a set of services and hardware products available on a subscription basis. In addition, he inherited the elusive exactingness inherent in the corporate culture of the giant company. His work on social issues distinguishes him – for example, in 2014, he was involved in defending the rights of LGBTQ. He coped with many threats to the company: the Covid-19 pandemic, US-China trade war, feuds with the Trump administration. Apple is on a path to sustainability, reducing its environmental impact and lowering its carbon footprint.
Nevertheless, he was embroiled in another scandal related to accusations of poor working conditions in factories, and his initiative to protect children turned into a PR nightmare. Although Cook didn’t release innovative products as Jobs did, he found a way to keep the corporation growing.
But who will be the heir to the throne after Cook? Jeff Williams, chief operating officer, is an undeniable choice. Nevertheless, his candidacy remains in doubt because he is only two years younger than Cook.
Understanding the threat of ransomware attacks
A rude awakening came to the Americans when they tried to find working gas pumps and were stuck in traffic. A criminal group linked to Russia hacked into the computer network of the largest oil supplier on the East Coast. It threatened to spread the stolen confidential data if the ransom of $ 4.4 million was not paid. As a result, the “Out of Gas” signs were glued to the fuel pumps.
Since not everyone reports attacks, the entire volume is unknown. Between 2019 and 2020, their number increased by 200%, from $ 8.9 million to $ 29.1 million. That means that the looming threat could affect all organizations, from national security agencies to schools.
Attacks can be local and less visible but have serious consequences. To protect yourself, utilize strong passwords, carefully open email attachments, or respond to messages that require personal information. It’s essential to keep your software up to date.
If last month the world was shaken by breakthrough news straight from Mars and the emergence of new financial startups, then August, on the contrary, became more measured and analytical. Amid vacations, the world slows down to gain strength for recent achievements. Therefore, to avoid losing your grip and being inspired, be aware of everything that happens!
READ ALSO: JULY TECH NEWS OVERVIEW
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