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OpenseedVC, run by Europe’s first Black solo general partner, has raised $10 million in its first close. Per its LinkedIn, the London, England-based firm exists to invest dollars in operators, those previously involved in daily operations of a startup, who are launching new technology companies across Africa and Europe. “We exist to back the most talented and experienced operators from day zero,” OpenseedVC Founder Maria Rotilu wrote on LinkedIn. “ As an angel-style fund, we are designed for one founder profile. Operators just as they take the leap to start their tech companies. We are driven by *pure merit* (hence the name OpenseedVC), and our goal is to back the most experienced operators and builders as first investors, especially at a time where the need to build truly groundbreaking and impactful solutions is critical.” She continued, “It is a tough fundraising climate, for funds and startups alike. However, we believe this is the best time to invest in the most visionary and...
For those planning future travels within the European Union, your experience might become a little more interesting. Last week, the European Parliament voted to connect border-control, migration, and law enforcement systems into a database on both EU and non-EU citizens. The Common Identity Repository (CIR) will combine biographical identities, compile biometric data, and make it available to law enforcement and border authorities. In a statement , Rapporteur Jeroen Lenaers said: “Without changing access rights or endangering the data protection rules that govern them, interoperability will ensure faster, more systematic and more complete access to EU information systems for professionals on the ground: police officers, border guards, migration officers and consulate staff members, in order for them to do their job better. Better decisions can be made on the basis of better information.” Generally, biometric data refers to physical characters that can be measured or calculated. In...
In the weeks following the Christchurch shooting — which spread rapidly across the internet — countries around the world have considered implementing new laws to prevent a repeat. Australia even proposed a bill that included possible prison time for executives whose companies failed to “expeditiously” remove violent content. On the other hand, the European Union, actually passed a new law. On Wednesday, the EU Parliament voted to fine big companies — like Facebook, Google, and Twitter — if they failed to quickly remove requested content. Under the law, “terrorist content,” should be removed within an hour. That includes any text, images, sound recordings or video that incites or solicits terrorist offenses, provides instructions to commit such offenses, or solicits the participation in activities of a terrorist group. Any companies who “systematically and persistently” fail to do so may face fines of up to 4 percent of their global turnover. However, for small companies who haven’t...
The European Union seems to have lost all patience for playing games with big tech companies. Today, the European Union announced that it fined Google €1.5 billion ($1.7 billion). It’s the company’s third antitrust violation in the country since 2017. The fine came because Google was blocking rival online search advertisers. In a statement, EU Competition Commissioner Margrethe Vestager said, “Google has cemented its dominance in online search adverts and shielded itself from competitive pressure by imposing anti-competitive contractual restrictions on third-party websites.” Through Google’s AdSense for Search, the company provided ads for websites, like those of newspapers, with a search function that also comes up with results and ads. Google would stop publishers from including any search ads from its competitors on their page results. This meant the publishers were relying on Google in order to profit from ads. In addition, a 2009 clause also made publishers seek Google’s...
Microsoft announced it is increasing its cybersecurity for think tanks in the U.S. and abroad, ahead of the European Parliament elections. The company said that it has detected attacks against employees of the German Council on Foreign Relations, The Aspen Institutes in Europe, and The German Marshall Fund through its Threat Intelligence Center and Digital Crimes Unit. “We believe the work of organizations like The German Marshall Fund and its Alliance for Securing Democracy are an essential part of efforts to secure democracies against those who seek to undermine it,” Microsoft Customer Security & Trust Vice President Tom Burt said in a blog post . “Many organizations essential to democracy do not have the resources or expertise to defend themselves against cyberattacks.” The cyber attack targeted more than 100 accounts across Europe between September and December 2018. Microsoft said its ongoing investigation leads it to believe that Strontium, a Russian-linked hacker group,...
Klarna’s plans to go public may need to be on standby. The Sweden-based fintech company has reportedly had a loss of $99 million in Q1 2025, according to Tip Ranks. In comparison, it saw a loss of $47 million in Q1 2024. There are several reasons for this decline. For one, customer credit losses increased by 17%, totaling $136 million, according to its Q1 report. However a spokesperson told The Tab this statistic was to be expected. “Bear in mind that we made 13% more loans than a year ago so, all else being equal, you’d expect credit losses to increase by at least 13%,” the spokesperson mentioned. Klarna And Artificial Intelligence While Klarna replaced human roles with artificial intelligence (AI), as AFROTECH™ previously reported, this decision was driven by a desire to increase operational efficiency and reduce overhead. As a result, 700 customer service representatives were replaced with tools that leveraged OpenAI. Tip Ranks notes that this move did help the company meet its...
As Amazon unveils new technology, it is also proving to be a win for its employees. Vulcan At Amazon’s 2025 Delivering the Future event held May 6–7 in Dortmund, Germany, the company introduced the Vulcan, Amazon’s first robot with a sense of touch. Made possible by an artificial intelligence-powered sensor, it is the first of its kind and is able to use video rather than still images to monitor and control its motions, as noted by Aaron Parness, Amazon’s director of applied science in robotics and artificial intelligence. “We’re at the golden age for robotics. AI is allowing us to develop systems that can interact with the physical world and not just the ones on our screens,” Parness said during the Main Event held at Amazon’s Last Mile Innovation Center. Vulcan will be beneficial to its employees who are fulfilling orders for customers at the company’s facilities thanks to the robot’s ability to pick and stow away 75% of the items stored in the warehouses. “One of the really...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. The theme of the 2025 Met Gala was “Superfine: Tailoring Black Style”, particularly focused on Black dandyism. Guest Curator Monica L. Miller’s book, “Slaves to Fashion: Black Dandyism and the Styling of Black Diasporic Identity,” served as the primary inspiration for the exhibit. Black dandyism began in 18th century Britain, but its cultural movement took root in the early 20th century, in which Black people embodied the European sensibility through clothing as a form of self-expression. Emerging during a time when African Americans had little to no agency after the Emancipation Proclamation (1863), they used dandyism to address the erosion of their civil rights. The theme highly parallels the current fight to retain ownership and freedom during a divisive time in politics. The 2025 Met Gala had Black male co-chairs for the first time in history, with celebrities A$AP Rocky, Lewis Hamilton,...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Recent viral videos on TikTok by Chinese wholesalers are claiming that luxury handbags and other items are made in China . This is a strong assertion when the trade war between the United States and China has consumers thinking about how much more they will have to pay for everyday items, as well as more frivolous purchases. Luxury goods aren’t as necessary when compared to food, clothes, and certain machinery. However, in recent years, consumer purchasing habits have diverged among various generations. Some Millennials and Gen-Z are focused on splurging on regular items like coffee and little treats, so spending money on big-ticket items has taken a backseat. Even so, while luxury goods have a higher mark-up in price based on brand recognition, many still use quality items to construct their products. For example, Hermés, the French luxury house, does not manufacture its bags in China, according...
Tesla CEO Elon Musk has acknowledged that the final version of the company’s Full Self-Driving (FSD) technology is not yet ready for public release — and there is no definitive date for when it will be available. During Tesla’s conference call following the release of its Q1 2025 financial results, Musk updated shareholders about the company’s self-driving plans, which he emphasized as essential to Tesla’s future, according to Daily Galaxy. Since 2016, Tesla has marketed vehicles claiming they have the necessary hardware for FSD features — significantly boosting sales of the FSD package — which can cost buyers up to $12,000. However, during the call, Musk said, “We’re going to have to upgrade the Hardware 3 computer” to achieve true self-driving capabilities, the outlet reported. The announcement sparked backlash from customers who felt misled, prompting Tesla to cover the costs of upgrading affected vehicles to the newer Hardware 4 — a move analysts estimate could reach hundreds of...
Editorial Note: Opinions and thoughts are the author’s own and not those of AFROTECH™. Billionaire business leaders turned against President Donald Trump as he implemented sweeping tariffs with other countries, which have amounted to billions of dollars lost. Many of the billionaires who have pushed back against the Trump tariffs have also endorsed him for the 2024 presidential election. One of those billionaires, Bill Ackman, warned against tariffs, likening them to an “economic nuclear war” in a post on X (formerly known as Twitter). He also claimed that the tariffs weren’t what he voted for, despite Trump speaking on tariffs early on in the election. How Will Tariffs Affect The American Consumer? Unwarranted tariffs will not only decimate our economy but also hurt our already fragile standing on the world stage. In retaliation, China has raised tariffs on American goods to 125%. Most business leaders, economic experts, and other world leaders are confused over Trump’s misguided...
Friday, April 4, 2025, marked the second consecutive day major U.S. stock indexes fell sharply, a downtrend that follows President Donald Trump’s recent tariffs announcement and China’s Friday morning declaration to impose a 34% duty on U.S. goods in retaliation. According to NBC News, significant market losses included Tesla , Elon Musk’s electric vehicle company, which fell by approximately 10%; agricultural equipment leader Caterpillar, down about 6%; and top AI chip manufacturer Nvidia, which declined by approximately 7%. The S&P 500 index, which tracks 500 leading U.S. companies, dropped more than 4%, down more than 16% from its peak. The Russell 2000 index, which follows stocks of smaller U.S. companies, plummeted by 5.3%. Global markets also experienced significant sell-offs, with European stocks declining 10% from recent highs and Asian markets facing sharp drops. After the market had closed on Wednesday, April 2, 2025, Trump announced from the White House’s Rose Garden that...
The global economy is not just shaped by technology or innovation — it’s governed by decisions made behind closed doors, often under the guise of economic strategy. One such decision, the imposition of tariffs, is anything but neutral. It is an instrument of pressure, a marker of priority, and increasingly, a reflection of geopolitical posture. Tariffs have reemerged as a centerpiece of American economic policy, not as quiet fiscal levers but as loud, disruptive statements. The Trump administration’s recent directive — a flat 10% base tariff on all imports and a sweeping set of reciprocal tariffs targeting nearly 90 countries — represents a radical reorientation of U.S. trade policy. In an interconnected world already strained by inflation, global supply chain challenges, and diplomatic fragility, these decisions matter deeply — and immediately. What Are Tariffs? At their core, tariffs are taxes on imported goods, imposed by governments to influence the cost and flow of trade. By...
Apple faces its largest decline since 2020, leading the race of significant drops in technology stocks as President Donald Trump announced a 10% tariff on all imported goods and higher duties targeting specific countries, according to CNBC. Trump shared the news about tariffs from the White House’s Rose Garden after the market closed on Wednesday, April 2, 2025, raising concerns about a potential global trade war . According to a White House fact sheet, the tariffs will take effect at 12:01 a.m. EST on Saturday, April 5, 2025. “Today, President Donald J. Trump declared that foreign trade and economic practices have created a national emergency, and his order imposes responsive tariffs to strengthen the international economic position of the United States and protect American workers,” the fact sheet read. On Thursday, April 3, Apple stock declined by over 8%, Meta Platforms and Amazon each dropped about 7%, and Nvidia and Tesla experienced declines of over 4%, per CNBC. The...