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Seoul-based proptech Dongnae acquires co-living platform Dears on August 8, 2023 at 6:13 am

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Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears.

The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previously raised a total of $34 million, including a $21 million Series A round it announced last year. Dongnae expects to close the transaction by the end of September. The company’s investors include the likes of NFX, Daol Investment, Hana Financial, MetaProp, Maple VC and WeWork co-founder Miguel McKelvey.

Dongnae’s primary product, Dongnae FLEX, offers a furnished apartment rental on its platform with flexible lease terms for as short a period as four weeks and lower rental deposits.

The addition of Dears will allow the company to upgrade the Dongnae FLEX service, manage properties “with a collective AUM of over $400 million,” and span 90 apartment complexes across Seoul and Pangyo, where a host of tech firms, including Kakao and Naver, are located. Dears Pangyo has more than 520 studio flat units in Pangyo.

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The outfit also will co-manage the Dears Myeongdong building in Seoul alongside Xi S&D. Dongnae will manage commercial spaces of Dears Myeongdong, consisting of B1, 14F and the rooftop, co-founder and CEO Matthew Shampine said, adding that Xi S&D will operate Dears Myungdong’s 112 units that offer both short- and long-term stays.

Dongnae says this is its first acquisition. The current leadership team at Stevens will join Dongnae to support expansion and continue to build on their progress to date, Shampine told TechCrunch.

“We are in active discussions with a number of landlords and land developers to open more buildings to be operated as and through Dongnae,” Shampine said.

Former WeWork executives Shampine and Insong Kim co-founded Dongnae in 2020 to digitize South Korea’s fragmented real estate market. In South Korea, people have to work with dozens of brokers to find a new home, and there are two options to pay rent in the country: paying a monthly fee (just like in many parts of the world) and paying everything in advance, called Jeonse.

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By providing Dongnae’s signature lower rental deposits on a flexible, short-term basis, the co-founders want to tackle Jeonse, the country’s unique residential rental system. This system allows tenants to rent an apartment with a large lump sum deposit, which is about 70% of the house valuation, without paying monthly rental fees.

“Since our Series A in March of 2022, we have been focused on growing our real estate portfolio, getting customer feedback, and building the necessary front- and back-end technology to truly create a better way to rent homes in Korea,” Shampine said.

The company has invested “heavily” in enhancing the customer experience since last year. The outfit says it has digitized the entire procedure instead of the typical long, paper-filed leasing process and launched its own digital real estate consultant Suzie by integrating artificial intelligence into its platform. Like a chatbot, Suzie answers prospective residents’ questions about housing or Dongnae’s units in any spoken language.

“From Adam Neumann’s Flow and companies such as Mint House, Zeus Living, and Blueground in America to Asian and European startups like Cove and Habyt — there has been great innovation in the residential rental market around the world over the past few years,” Shampine said in a statement. “Our team is committed to bringing about a better way to rent here in Korea.”

Dongnae’s application is now available for download on Android and iOS.

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​ Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears. The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previously raised a total of $34 million, including a $21 million 

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Netanyahu’s UN Speech Triggers Diplomatic Walkouts and Mass Protests

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What Happened at the United Nations

On Friday, Israeli Prime Minister Benjamin Netanyahu addressed the United Nations General Assembly in New York City, defending Israel’s ongoing military operations in Gaza. As he spoke, more than 100 delegates from over 50 countries stood up and left the chamber—a rare and significant diplomatic walkout. Outside the UN, thousands of protesters gathered to voice opposition to Netanyahu’s policies and call for accountability, including some who labeled him a war criminal. The protest included activists from Palestinian and Jewish groups, along with international allies.

Why Did Delegates and Protesters Walk Out?

The walkouts and protests were a response to Israel’s continued offensive in Gaza, which has resulted in widespread destruction and a significant humanitarian crisis. Many countries and individuals have accused Israel of excessive use of force, and some international prosecutors have suggested Netanyahu should face investigation by the International Criminal Court for war crimes, including claims that starvation was used as a weapon against civilians. At the same time, a record number of nations—over 150—recently recognized the State of Palestine, leaving the United States as the only permanent UN Security Council member not to join them.

International Reaction and Significance

The diplomatic walkouts and street protests demonstrate increasing global concern over the situation in Gaza and growing support for Palestinian statehood. Several world leaders, including Colombia’s President Gustavo Petro, showed visible solidarity with protesters. Petro called for international intervention and, controversially, for US troops not to follow orders he viewed as supporting ongoing conflict. The US later revoked Petro’s visa over his role in the protests, which he argued was evidence of a declining respect for international law.

BILATERAL MEETING WITH THE PRIME MINISTER OF ISRAEL Photo credit: Matty STERN/U.S. Embassy Jerusalem

Why Is This News Important?

The Gaza conflict is one of the world’s most contentious and closely-watched issues. It has drawn strong feelings and differing opinions from governments, activists, and ordinary people worldwide. The United Nations, as an international organization focused on peace and human rights, is a key arena for these debates. The events surrounding Netanyahu’s speech show that many nations and voices are urging new action—from recognition of Palestinian rights to calls for sanctions against Israel—while discussion and disagreement over the best path forward continue.

This episode at the UN highlights how international diplomacy, public protests, and official policy are all intersecting in real time as the search for solutions to the Israeli-Palestinian conflict remains urgent and unresolved.

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Is a Nuclear-Powered Alien Spacecraft Flying Toward Earth?

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A mysterious interstellar object speeding through our solar system has reignited debates about extraterrestrial technology — and whether Earth might currently be under quiet observation.

The object, known as 3I/ATLAS, is only the third confirmed interstellar visitor ever detected. Unlike ordinary comets, however, this cosmic traveler has baffled astronomers with its unusual brightness, strange trajectory, and lack of a visible cometary tail. While most scientists cautiously describe it as a natural body, one leading astrophysicist believes something much stranger is at play.

Harvard Scientist’s Bold Claim

Professor Avi Loeb of Harvard University, head of the Galileo Project, has suggested that 3I/ATLAS may in fact be a nuclear-powered alien spacecraft designed to test how humanity would respond to an interstellar visitor. He argues that its flight path is improbably precise, bringing it close to Mars, Venus, and Earth — a pattern highly unlikely to occur by chance.

Loeb also points out that telescope images show a glow inconsistent with ordinary dust behavior. Instead of trailing behind like a comet, the halo-like light appears to extend in unusual ways, sparking debate about whether the object could be emitting energy of its own.

Headed Toward Earth’s Neighborhood

3I/ATLAS is expected to make its closest approach in late 2025, passing near Mars before swinging by the inner solar system. Although Earth itself will be on the opposite side of the Sun when it comes closest, the alignment will still enable space-based observatories to capture sharper data.

Loeb has called on NASA and other agencies to use spacecraft already stationed near Mars or Jupiter — including the Juno mission — to take high-resolution photographs. He believes such efforts could reveal whether the interstellar object is truly natural, or the first technological probe humanity has ever encountered.

Should We Be Worried?

While most astronomers argue caution before jumping to alien conclusions, Loeb insists that scientific openness is key. “If it’s just a comet, we learn something new,” he said. “But if it’s a spacecraft, it would be the most important discovery in human history.”

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For now, 3I/ATLAS remains a mysterious speck on astronomers’ charts, drifting closer with each passing day. Whether it proves to be a frozen remnant of another star system or something far more advanced, the interstellar visitor has already succeeded in one mission: reminding us how vast and unpredictable the universe really is.

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AI Automation Could Cause Up to 20% Unemployment—A Workforce on the Brink

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Stark Warning from Anthropic CEO Highlights Rapid Job Displacement Risk

The looming threat of widespread unemployment due to AI automation has sparked intense debate among experts, business leaders, and policymakers. Dario Amodei, CEO of Anthropic—the company behind the influential AI language model Claude—issued a stark warning that has sent shockwaves through corporate America:

“Up to half of all entry-level white collar jobs could disappear within the next one to five years, potentially pushing unemployment rates as high as 20% during this period.”

This dramatic forecast paints a picture of a rapid and unsettling transformation in the workforce, driven by AI technologies that can perform complex cognitive tasks.

Balancing Predictions: Worst-Case Scenarios vs. Moderate Impact

However, this forecast represents one end of a spectrum of expert predictions. While Amodei’s warning highlights the worst-case scenario driven by the swift adoption of AI agents capable of coding, analyzing data, drafting legal documents, and managing workflows around the clock, other analyses suggest a more moderate impact. For example, Goldman Sachs estimates that AI could temporarily displace about 6-7% of U.S. jobs, with unemployment rising by approximately half a percentage point during the adjustment period. Their research anticipates a more gradual transition with a mixture of job disruption and creation.

The Unprecedented Speed and Scope of AI-Driven Job Disruption

The truth likely lies somewhere in between. AI is advancing at unprecedented speed, and the scope of jobs affected spans far beyond blue-collar roles to white-collar positions that required college degrees and years of training. Entry-level roles such as customer service representatives, data entry clerks, junior analysts, and administrative assistants face the greatest near-term risk. Mid-level roles in accounting, marketing, law, and engineering could soon follow, with companies already laying off workers citing AI-driven efficiencies.

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Preparing for an AI-Transformed Workforce: Adaptation Is Essential

Ultimately, the AI-driven job transformation is no longer a distant prospect but unfolding now. Whether unemployment spikes to 20% or stabilizes at lower levels depends on many factors, including business adoption rates, government policies, and the ability of workers to reskill. What is certain is that the workforce of tomorrow will look very different from today—and the time to prepare is right now.

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