Afore Capital raises second pre-seed venture capital fund

As expectations from seed investors intensify, a new stage of investment has established itself earlier in the venture-backed company life cycle. Known as “pre-seed” investing, one of the first legitimate outfits to double down on the stage has refueled, closing its second fund on $77 million. Afore Capital’s sophomore fund is likely the largest pool of venture capital yet to focus exclusively on pre-seed companies, or pre-product businesses seeking their first bout of institutional capital. In many cases, a pre-seed startup may even be “pre-idea,” yet to fully incorporate. While some funds are happy to invest that early, Afore seeks slightly more mature companies. Afore invests between $500,000 and $1 million in nascent startups. As it kicks off its second …

In California, Its Now Illegal For Some Bots to Pretend to Be Human

An experimental California law making it illegal for some bots to masquerade as human went into effect this week. Known as the B.O.T (Bolstering Online Transparency) Act or track and report earthquakes. Others are well-loved streams of independent art projects. Twitter is widely regarded as the bot-friendliest platform. Many automated accounts flourish there but they also exist elsewhere, haunting YouTube comments and drumming up follows for wishful Instagram influencers. To avoid putting undue burden on small businesses and online communities, the law only applies to platforms with more than 10 million monthly users. Bots continue to misrepresent public sentiments and perceptions about topics, or to mute dissenting opinions and distract from current events, said California Sen. Bob Hertzberg, who introduced …