It’s Monday. Here’s what you need to know in Australian tech today.
1. Netflix launches in Australia on Tuesday from $8.99 a month. will have House of Cards and Orange is the New Black. More here. Users will also be able to trial the streaming service free for 30 days – similar to what Stan is doing.
2. iiNet is meeting with angry investors who think the board sold the telco too cheaply in its $1.4 billion deal with TPG. More here.
3. Y Combinator head Sam Altman thinks startup valuations are too high and he’s blaming investors – not founders. Altman tweeted a sequence of statements today which concluded with his own view that he would like to see less money chasing seed startups. Full rundown is here.
4. Australian venture capitalist Paul Bennetts is interested in marketplaces which have a specific vertical plays. The AirTree investment manager wrote a post this week which explained leaders in a space (think Uber, Amazon or eBay) could be unbundled by players which go after specific use cases or niches. “A better product experience can be created by concentrating on one use case versus what is possible by a horizontal platform catering to every use case at once,” he said. He’ll be watching closely to see how this customer segmentation trend plays out.
5. St George Bank has launched a startup pitching competition where 20 finalists will have the opportunity to pitch at TEDx in Sydney. Ten winners will receive a $10,000 cash grant from the bank. Judges will be looking for startups which have innovative ideas and demonstrate a solid understanding of their market and customers.
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