(Editor’s Note: The Startup and Entrepreneurship Roundup is a regular feature on InfoSpace.)

Here’s a look at some recent news about startups and the world of entrepreneurship.

Inventor of the Wildly Popular ‘Rainbow Loom’ Weaves the American Dream With Rubber Bands in a Detroit Basement

rainbow loom


An in-depth look at the story behind Rainbow Loom’s emergence, this article details the trials and tribulations of founder Choon Ng as he tried to convince his wife that his hobby was worth taking to the next level. Ng started his now-wildly successful company from the basement of his Detroit home. The backstory behind Rainbow Loom’s success is definitely worth a read.

Square Fined $507K In Florida For Operating A Mobile Payment Service Without A Money Transmitter License



Many small businesses hoped Square would transform the point-of-sale purchase. Florida, however, seems to be less receptive to the idea. The startup recently got into legal rouble for operating in the state without a money transmission license. And while Square’s pockets have gotten deeper, a $500K fine is still a serious deal that could spell trouble for the company in other states.

Airbnb Is Making a Short Film Out of Vines (And So Can You!)

With Vine now becoming a permanent fixture in popular culture, it was only a matter of time before something like this happened. Airbnb, the successful travel site startup, is teaming with Hollywood to create a full-length film entirely from the crowdsourced submissions of Vine users.

Check out this cool campaign:

Hollywood & Vines: a Film by Airbnb & You from Airbnb on Vimeo.

Hacking homelessness: HandUp lets you help out via mobile phone donations



As the homeless population in San Francisco rises above 6,000 people, two entrepreneurs from the city believe they’ve found an innovative new way to help out. In just a few weeks, web designer Rose Broome and mobile developer Zac Witte have created an iPhone app that allows for digital donations to those who need them, perhaps with redemption available at retailers like Walgreens and Safeway.

Tesla API Deemed More Vulnerable To Hacks By Expert

Tesla has seen a lot of positive press lately, but this news story has to give the company some concern. George Reese, the executive director of cloud management for Dell, recently detailed on his blog a potential security flaw with Tesla’s application protocol interface (API) authentication. What does it mean? Tesla could be an easy target for hackers, something owners definitely don’t want.

Do you think hackers will take this news as a challenge and try to hack Tesla’s API? What startup news are you reading this week that we missed? Let us know in the comments below.