Mueller's office refutes BuzzFeed story on Trump telling Cohen to lie to Congress

Tom Paine

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

Special Consul Mueller's office issued a statement tonight totally denying the existence of evidence mentioned in a BuzzFeed article that concluded Trump had instructed Michael Cohen to lie to Congress.

Unless there's some halfway point that BuzzFeed can find to say there is something to these allegations, the web publication should be completely discredited in the eyes of reasonable people.

The problem is that Buzzfeed, which has been valued at $1.5 billion, largely on the legs of two $200 million investments by Comcast, has no place to go. Before its financial problems became more evident, it had been widely assumed BuzzFeed would end up becoming a part of the Comcast / NBCU family. See the article from today's Guardian on BuzzFeed's current business problems.

NBC has had its own newsroom credibility problems, so its not as if it could straighten out BuzzFeed's direction.

Comcast would do well by either bringing down whatever power it can upon BuzzFeed, or else promptly seek to unwind its investment as soon as possible.

Its bad for the Comcast and NBC brands, and bad for the business.

Elemica and crossinx Deliver Blockchain Pilot for Leading Global Chemical Manufacturers
. Goal to Automate Multi-Tier Processes (Press Release)

Elemica and crossinx Deliver Blockchain Pilot for Leading Global Chemical Manufacturers

Goal to Automate Multi-Tier Processes

Wayne, PA – January 15, 2019 – Elemica, the leading Digital Supply Network for process manufacturing industries, announces the completion of a successful blockchain pilot project between leading global chemical manufacturers as part of an innovation initiative testing new technologies that will redefine B2B processes and support digital transformation.

In the pilot program, Elemica and crossinx, a network for financial business collaboration solution, exist as nodes on a public blockchain, connecting structured data with unstructured data, such as documents, to enable multi-tier payment. In the pilot, two large global chemical companies facilitate document and data transfer of invoices, purchase orders, delivery tenders and proof-of-delivery posts. With the ability to connect to a digital network, blockchain functionality can be made accessible to support a many-to-many connection of companies, facilitating payment processing.

“Similar to any new technology, there is a period of learning and evolution before adoption,” said Arun Samuga, CTO of Elemica. “We like what we see so far and are identifying areas of clear applicability of the technology.”

Elemica’s blockchain pilot project tested the ability to use blockchain to support a many-to-many architecture. Blockchain technology can be used to break supply chain data out of silos and reveal this information to all trading partners regardless of the network they are connected to.

“Our goal is to use the blockchain to automate document exchange along the supply chain and make it more transparent. This is the basis for our Supply Chain Finance solutions," explains crossinx CEO and founder Marcus Laube.

The benefits of this capability with blockchain could lead to:
· Feasibility of employing a trustless, intermediary-free, decentralized standard to exchange information between different stakeholders
· Simplify existing business processes and make them smarter
o Auto-ordering based on IoT information
o Automated PO confirmations
o Auto-invoice creation based on Pickup or PoD
o Auto-matching of invoices
o Auto-payments
· Extend to other complementary decentralized networks and from IoT devices

The success of the blockchain pilot project shows that the new technologies brings value to supply chains and businesses through the sharing of information, workflows and economies.

About crossinx
crossinx brings the accounting of private and public sectors to the next level with a business network unique to the German speaking market. A team of 100 multinational employees help companies digitize their document-based finance and business processes. With over 150,000 connected companies, an invoice volume of 25 billion Euro and an expansion rate of 100%, the company is a leading provider for financial business collaboration. For more information, visit

About Elemica
Elemica is the leading Digital Supply Network for the process manufacturing industries. Elemica accelerates digital transformation by connecting, automating, anticipating and then transforming inter-business supply chain processes for the products they buy, sell, and move. Launched in 2000, customers process over $500B in commerce annually on the network. For more information, visit

Becky Boyd
VP, MediaFirst
415 State Street, Roswell, GA 30075 USA
O: (770) 642-2080 x 214
C: (404) 421-8497

Apple should buy private digital health records operation Epic Systems, says Jim Cramer

Apple should buy private digital health records operation Epic Systems, says Jim Cramer from CNBC.

Philly EnterpriseTech Highlights 1/16: Walgreens, Microsoft Ink Strategic Deal to “Transform Healthcare Delivery”; Like The Shutdown, TiVo-Comcast Legal Fight Has No End in Sight

Vanguard founder Jack Bogle dead at 89

Fiserv is buying First Data in a $22B deal
Radian makes another data-oriented acquisition
Walgreens, Microsoft Ink Strategic Deal to “Transform Healthcare Delivery”
AWS For Everyone: New clues emerge about Amazon’s secretive low-code/no-code project
TiVo-Comcast Legal Fight Has No End in Sight
DuckDuckGo will use Apple Maps for local searches on the web; furthers my speculation that Apple would be a great partner for DuckDuckGo
Another view on "Is digital health in a bubble?"

Vanguard's Bogle dead at 89

Jack Bogle, founder of the Vanguard Group, died at the age of 89, it was announced this evening.

Bogle, a very bright and inventive man, revolutionized investing and financial markets with a very simple concept - index funds. Vanguard was founded in 1974.

He died in Bryn Mawr. The cause was cancer.

"Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children's futures," said Vanguard CEO Tim Buckley. "He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor 'a fair shake.'"

A look back at the life of Vanguard’s founder

Vanguard regrets to announce the passing of our founder, John Clifton Bogle, who died January 16, 2019, at his home in Bryn Mawr, Pennsylvania. He was 89.

John BogleMr. Bogle had near-legendary status in the American investment community, largely because of two towering achievements:

He introduced the first index mutual fund for individual investors and, in the face of skeptics, stood behind the concept until it gained widespread acceptance.
He drove down costs across the mutual fund industry by ceaselessly campaigning in the interests of investors. Vanguard, the company he founded to embody his philosophy, is now one of the largest investment management firms in the world.
“Jack Bogle made an impact on not only the entire investment industry, but more importantly, on the lives of countless individuals saving for their futures or their children’s futures,” said Vanguard CEO Tim Buckley. “He was a tremendously intelligent, driven, and talented visionary whose ideas completely changed the way we invest. We are honored to continue his legacy of giving every investor ‘a fair shake.’”

“The Vanguard Experiment”
Under Mr. Bogle’s tutelage, Vanguard began operations on May 1, 1975. He called the new venture “The Vanguard Experiment,” where mutual funds would be operated at cost and independently. Vanguard thus represented a radical change from the traditional mutual fund structure, in which an external management company manages a fund for profit.

“Our challenge at the time,” Mr. Bogle recalled a decade later, “was to build … a new and better way of running a mutual fund complex. The Vanguard Experiment was designed to prove that mutual funds could operate independently, and do so in a manner that would directly benefit their shareholders.”

An aficionado of naval history, Mr. Bogle named the company after Admiral Horatio Nelson’s flagship at the Battle of the Nile in 1798; he thought the name “Vanguard” resonated with the themes of leadership and progress. The nautical theme can still be seen in Vanguard’s logo and communications to shareholders.

“Father of indexing”
In 1976, Vanguard introduced the first index mutual fund for individual investors. Ridiculed by others in the industry as “un-American” and “a sure path to mediocrity,” the fund, First Index Investment Trust, collected a mere $11 million during its initial underwriting. Now known as Vanguard 500 Index Fund, it has grown to be one of the industry’s largest, with more than $400 billion in assets. Today, index funds account for more than 70% of Vanguard’s $5.1 trillion in assets under management; they are offered by many other fund companies as well and they make up most exchange-traded funds (ETFs). For his pioneering of the index concept for individual investors, Mr. Bogle is often called the “father of indexing.”

Standing up for the individual investor
Mr. Bogle and Vanguard again broke from industry tradition in 1977, when Vanguard ceased to market its funds through brokers and instead offered them directly to investors. The company eliminated sales charges and became a pure no-load mutual fund complex—a move that would save shareholders hundreds of millions of dollars in sales commissions.

A champion of the individual investor, Mr. Bogle is widely credited with helping to bring increased disclosure about mutual fund costs and performance to the public. His commitment to safeguarding investors’ interests often prompted him to speak out against practices that were common among his peers in other mutual fund organizations.

“We are more than a mere industry,” he insisted in a 1987 speech before the National Investment Company Services Association. “We must hold ourselves to higher standards, standards of trust and fiduciary duty. Change we must—in our communications, our pricing structure, our product, and our promotional techniques.”

Early career
The New Jersey native began his career in 1951 after graduating magna cum laude in economics from Princeton University. His senior thesis on mutual funds had caught the eye of fellow Princeton alumnus Walter L. Morgan, who had founded Wellington Fund, the nation’s oldest balanced fund, in 1929, and was one of the deans of the mutual fund industry. Mr. Morgan hired the ambitious 22-year-old for his Philadelphia-based investment management firm, Wellington Management Company.

Mr. Bogle worked his way up through the ranks, and, in 1967, he was named president. Mr. Bogle became the driving force behind Wellington’s growth into a mutual fund family after he persuaded Mr. Morgan to start an equity fund that would complement Wellington™ Fund. Windsor™ Fund debuted in 1958.

In 1967, Wellington Management Company merged with the Boston investment firm Thorndike, Doran, Paine & Lewis (TDPL). Seven years later, a management dispute with the principals of TDPL led Mr. Bogle to form Vanguard in September 1974 to handle the administrative functions of Wellington’s funds, while TDPL/Wellington Management would retain the investment management and distribution duties.

Beyond Vanguard
Health problems caused Mr. Bogle to step down as Vanguard’s chief executive officer in 1996. The same year, he underwent a heart transplant. A self-described “battler by nature,” Mr. Bogle came through the surgery with flying colors. He returned to work as senior chairman until 1999, when he turned 70, the maximum age for a Vanguard board member. Mr. Bogle never actually retired; he became president of the Bogle Financial Markets Research Center to continue his work on behalf of investors. He also continued to write and speak about the industry.

Awards and accomplishments
In 2004, Time magazine named Mr. Bogle one of “the world’s 100 most powerful and influential people” and Institutional Investor magazine presented him with its Lifetime Achievement Award. In 2010, Forbes magazine described him as the person who “has done more good for investors than any other financier of the past century.” Fortune magazine designated him one of the investment industry’s four “Giants of the 20th Century” in 1999. In January 2012, some of the nation’s most respected financial leaders celebrated his career at the John C. Bogle Legacy Forum.

Mr. Bogle served on several investment industry boards: chairman of the board of governors of the Investment Company Institute (1969–1970) and chairman of the NASD’s (now FINRA) Investment Companies Committee (1972–1974). In 1997, he was appointed by then-SEC Chairman Arthur Levitt to serve on the Independence Standards Board.

Mr. Bogle was sought after in the corporate community and served as a director for several corporations. He received honorary doctorate degrees from 14 universities, including his alma mater, Princeton.

Civic work
An avid booster of Philadelphia and the surrounding area, Mr. Bogle was active in civic affairs. “I loved Philadelphia, my adopted city that had been so good to me. I established my roots there, finding even more unimaginable diamonds,” he wrote in one of his many books.

His civic work extended to organizations involved in education, leadership, and public affairs. He served as the first chairman of the board of trustees and chairman emeritus for the National Constitution Center. Former President Bill Clinton was also on the board and later wrote the foreword to the paperback edition of Mr. Bogle’s book Enough. True Measures of Money, Business, and Life.

Sportsman and family man
Mr. Bogle was born May 8, 1929, in Montclair, New Jersey. He worked his way through Blair Academy and Princeton University as a waiter and also managed Princeton’s athletic ticket office.

A tall, athletic man who sported a crew cut for most of his life, Mr. Bogle played squash, tennis, and golf, and also enjoyed sailing. He was often described as a “fierce competitor” on the court and course, a demeanor he also maintained on the job. Reading was among his pleasures, as was The New York Times crossword puzzle, which he often completed in less than 20 minutes.

He married Eve Sherrerd in 1956. The couple had 6 children—daughters Barbara Bogle Renninger, Jean Bogle, Nancy Bogle St. John, and Sandra Bogle Marucci, and sons John C. Bogle Jr. and Andrew Armstrong Bogle. They had 12 grandchildren and 6 great-grandchildren.

Villanova-based roundCorner acquired by

Tom Paine

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

roundCorner, the Villanova-based software firm for non-profits, foundations, and educational institutions, has been acquired by , it was announced on Monday.

roundCorner offers cloud-based SaaS CRM solutions built on the Salesforce platform and designed specifically for non-profits and higher ed institutions. Major customers include Girl Scouts, City Year, American Red Cross, Skoll Foundation and ASPCA. is a non-profit arm of Salesforce (CRM).

roundCorner received a Series A round in 2013 lead by Salesforce Ventures , with the amount not disclosed. It appears there was an earlier seed round, , in which Boston-based CPD , a collaborative fundraising service for public media stations, participated.

roundCorner's relationship to Salesforce has been difficult to acsertain at times, though this acquisition certainly clarifies things. A 2016 statement indicated that Salesforce,org would no longer be directly selling and servicing roundCorner products .

Meanwhile, co-founder and CEO Dan Lamont departed late last year and put a shingle out for a new venture, Threshold World .

In addition to the non-profit angle, Salesforce has been focusing on developing more vertical apps, of which roundCorner is one. Acquires roundCorner. (Press Release) Acquires roundCorner

Together, and roundCorner will power a unified CRM solution for fundraising, alumni and donor outreach

roundCorner provides technologies to enable social good organizations to achieve their missions
SAN FRANCISCO, January 14, 2019—, a nonprofit social enterprise, today announced it has acquired roundCorner, which specializes in enterprise CRM solutions for nonprofits and other impact sectors.

“Through our technology, industry expertise and employee volunteerism, is dedicated to empowering the social good sector,” said Rob Acker, CEO, “Together, and roundCorner will further power our community of customers with solutions to advance their missions.”

roundCorner: An enterprise solution to transform the social impact sector

roundCorner, the first Platinum App Partner for the nonprofit market in North America, offers technology solutions for enterprise nonprofit organizations, higher education institutions and foundations to become constituent-centric with products such as NGO Connect, Advancement Connect and Foundation Connect.

roundCorner empowers customers with fundraising and grants management built on Salesforce, so they can connect with each of their constituents from one single place.

In 2016, roundCorner joined Pledge 1% – a corporate philanthropy movement started by Salesforce, dedicated to making the community a key stakeholder in every business.

Acquisition to accelerate innovation and impact for’s community

roundCorner technology will extend the power of Nonprofit Cloud, Education Cloud and Philanthropy Cloud as continues to deliver solutions for fundraising, alumni and donor outreach.

Together, and roundCorner will accelerate customers’ impact in their communities, whether a nonprofit, educational institution or a foundation. By making a unified system for connecting fundraising, advancement and engagement systems, and roundCorner will unlock new ways to connect to constituents and optimize existing technology solutions.

Details Regarding the Acquisition

The boards of directors of and roundCorner have unanimously approved the acquisition.


Everyone who wants to change the world should have the tools and technology to do so. Technology is the most powerful equalizer of our time, providing access to data, knowledge, and — above all — connections. gets our technology in the hands of nonprofits, educational institutions, and philanthropic organizations so they can connect with others and do more good. As a social enterprise, the more missions our technology supports, the more we invest back into technology and communities, creating an endless circle of good. We’re here to help; visit us at

Philly EnterpriseTech Roundup 1/14: Digital First Media throws bid at Gannett

Alden-backed Digital First Media, which owns the former Journal Register papers in the 'burbs and once controlled the Inquirer, throws a surprise takeover bid at Gannett. Like Dollar General trying to buy Walmart

  • WeWork is even better without the Work!
  • John Malone said to be trying to buy Hollywood agency CAA
  • Interesting piece on "The Cost of Hospital Protectionism"
  • A look back at the evolution of RSS and why its almost dead, although I rely on it
  • Lots of things happening at Comcast's NBCU
  • USA Technologies didn't learn its lesson

a16z Podcast: Talent, Tech Trends, and Culture -- with Ben, Marc, and Tyler Cowen

Strange going-ons in Vegas: Russians from Warminster vs Tesla

Tom Paine

 Subscribe in a reader
Subscribe to Philadelphia Tech News by Email

At CES last week, there was an odd incident in which a Tesla, supposedly in self-driving mode, ran into a small robot also in the road.

It was obviously a publicity stunt set up in advance. The bot was from a company named Promobot. Its website says the company is located at 626 Jacksonville Rd, Ste 125, Warminster, PA.

As the name Promobot suggests, the company tries to rent robots to companies for use as promotional tools.

Its not clear who produces the robots, or how many Promobot actually has.

Its Founder and Chairman of the board of directors, Promobot, is Alexei Iuzhakov. Back in 2008, Iuzhakov was in a (Russian) Presidential program for training of managerial personnel for organizations of the national economy; he also received training at some Silicon Valley institute and with NASA, according to a brief CV. The rest of Promobot's personnel listed on its website are also apparently of Russian origins, judging from their names.

Promobot's only funding, according to CrunchBase , was $2 million in 2016 from (the Russian) Internet Initiatives Development Fund (IIDF).

Nothing particular wrong with this, unless it was a serious attempt to undermine Tesla, but its kind of an odd proposition. I don't waste much time on publicly stunts, but I just wanted to identify who was behind it. I'll pass on anything else of importance that comes out of this.