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☆ Enhanced Games Are Olympics With Steroids, Pay; Meet the Founder
▼ + stars: | 2024-03-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +14 min

Several countries pay bonuses to medal winners, and high-profile athletes may get brand deals and sponsorships, but many Olympic athletes live quiet lives. AdvertisementD'Souza suggested he received funding for the Enhanced Games in the "single-digit millions" but declined to specify the amount. So far, it's unclear what kind of talent Enhanced Games will attract. He said that at the Enhanced Games, athletes would get comprehensive health checkups to monitor the effects of "whatever enhancement protocols" they're on and ensure they're fit to compete. D'Souza said he planned to announce more details about the Enhanced Games this summer — right around the Paris Olympics.

Persons: Aron D'Souza, gymgoers, D'Souza, Thomas Bach, Bach, Uber, Christian, Christian Angermayer, Balaji Srinivasan, Coinbase's, Peter Thiel, Angermayer, Srinivasan, Thiel, Hulk, Charles Harder, Harder, didn't, Sargon, Peter, VCs, Thiel hasn't, he's, James Magnussen, James, he'd, Marta Nawrocka, BI's Gabby Landsverk, Jim Walden, Grigory Rodchenkov, it's, who'd Organizations: International, Olympic, IOC, West Germany's Olympic, The New York Times, Business, Apeiron Investment, University of Melbourne, Gawker Media, BuzzFeed, Gawker, Abrams, Australian Financial, US, Doping Agency, UFC, Drug Free, NFL, NBA, MLB, Testing Agency, ITA, CNN, FBI, Sports, Gaming Initiative, Paris Locations: Miami, Lausanne, Switzerland, Oxford, Australian, Russia

☆ Wirecard tried to destroy its whistleblower. Now, he's founded a startup to protect others who speak out.
▼ + stars: | 2024-03-29 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +6 min

Read previewBeing a whistleblower was antithetical to everything Pav Gill had done during his nine-year stint as a corporate lawyer. When Wirecard headhunted the Singaporean native to be its head of legal, Gill took up the position enthusiastically. Despite the fruitful outcome, the experience of being a whistleblower traumatized Gill. AdvertisementThis realization was the driving force behind Gill setting up his startup — Confide — a platform for 'internal whistleblowers' to raise issues within their organizations. AdvertisementGill anticipates that this model will work best for companies with over 50 employees, and ideally above 250 employees.

Persons: —, Pav Gill, Gill, foraying, Wirecard, Gill's, don't, " Gill, they're Organizations: Service, Allen, Business, Financial, Directive, EU Locations: Wirecard, Asia, Singapore, ESG

☆ Fintech ValidMind aims to ease Wall Street's AI risk management headaches. Here's the pitch deck it used to raise $8 million in a round led by Point72 Ventures.
▼ + stars: | 2024-03-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Wall Street firms know the pains of having to satisfy regulators, and with advancements in artificial intelligence, there's a whole new level of scrutiny and complexity. It involves quality-and-assurance teams who test, verify, validate, and challenge the AI models before they go into production and report issues back to the engineering team to fix. In some cases, banks' technology teams are spending at least half their time documenting models for compliance, Jonas Jacobi, cofounder of fintech startup ValidMind, told Business Insider. AI models are often compared to a "black box" because it can be difficult to understand their decision-making or how the models arrive at their results. With the new injection of capital, ValidMind will build more features, like one aimed at automating the risk management of third-party vendor solutions.

Persons: Banks, Jonas Jacobi, Jacobi, ValidMind, Steve Cohen's, Mehdi Esmail, Andres Rodriguez Organizations: Business, Point72 Ventures, American Express, Third Prime Ventures, York Life, Jacobi, Technologists Locations: Palo Alto, Calif, Wall, ValidMind

☆ Sam Altman's act may be wearing thin
▼ + stars: | 2024-03-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we're looking into how some in Silicon Valley are starting to sour on OpenAI's Sam Altman . AdvertisementFrom hardball tactics when raising funds to relentless self-mythologizing about his role in the future of tech, Altman's act is wearing thin on some . Even VCs uninterested in AI deals are quickly becoming servants to Altman's AI empire. Big market, fall hard.

Persons: —, Baltimore's Francis Scott Key, Sam Altman, Alastair Grant, Rebecca Zisser, Darius Rafieyan, Altman, Elon Musk, à, Steve Jobs, VCs, Samantha Stokes, Eric Baradat, Torsten Slok, David Rosenberg, BofA, Drew Watson, Birkin, Abanti Chowdhury, Elon, Don Lemon, that's, Musk, Mark Zuckerberg, Google's, Meta, Dave Calhoun, Aaron Schwartz, Adam Neumann, Neumann, Robert F, Kennedy Jr, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Baltimore Fire Department, Tech, Apple Vision, NFL, ChatGPT, Kruze Consulting, Apollo Global Management, Federal Reserve, Bank of America, Abanti, Getty Images, Street Locations: Silicon Valley, Plenty, Big, Orlando, New York, London, Chicago

☆ Some VCs are over the Sam Altman hype
▼ + stars: | 2024-03-26 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +8 min

In late 2023, when OpenAI sought $300 million from investors, CEO Sam Altman chose a different approach. In some corners of this clubby world, over $7 coffee and artisanal cocktails, the meteoric rise of OpenAI and Sam Altman is giving way to an inevitable backlash. "He's a kingmaker," a Silicon Valley startup founder and angel investor who knows Altman. Sam Altman and OpenAI did not respond to requests for comment. A certain somethingMany of the VCs who spoke with BI said Altman has a certain something.

Persons: —, OpenAI, Sam Altman, Altman, they'd, I've, Ali Ghodsi, Altman's, Ghodsi, Steve Jobs's, Paul Graham, he's, Sam, Jack Altman, It's, it's, Elon, Alexander the Great, Adam Neumann Organizations: Service, NEA, Business, Altman's, The Washington Post, The, YC, BI, WeWork Locations: Sequoia, Silicon Valley, The, San Francisco

☆ AI-powered Cherish Health has raised $26 million and is set to raise a $30 million Series B — and hasn't grabbed a single dollar from VCs. Here's why.
▼ + stars: | 2024-03-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

But with his latest startup, Cherish Health, he's taking a different approach. To date, Cherish Health, which makes a radar-based device to detect falls in the home, has raised $26 million from these alternative sources. Cherish Health is now gearing up to raise its Series B round, targeting $30 million at a $200 million valuation. In late 2022, Cherish Health landed $5 million in Series A funding led by Alarm.com at a $45 million valuation. If Cherish Health had gone the way of traditional venture capital, Nagpal said, "we would've given up most of our value by now."

Persons: Sumit Nagpal, Nagpal, he's, we've, JP Morgan, Health's, Health, Alarm.com, consortiums, aren't Organizations: pharma, Abbott, Business, Accenture, Health, Apple, Comcast, Amazon, Cherish Health Locations: Alere, Haven, Amazon , Berkshire, Alarm.com, VCs

☆ Electrification could overwhelm energy grids. Startups are betting on AI to make sure that doesn't happen
▼ + stars: | 2024-03-25 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +10 min

Today's energy grids are unable to keep up with the intense demand being heaped upon them. Globally, energy projects struggle to overcome permitting hurdles. Making smart grids a realityData was transmitted across a national energy grid for the first time in 2016. Startups selling them are hoping to alleviate pressure from physical grid infrastructure and allow operators to do more with the infrastructure they have. Victoria McIvor, an advisor to energy startups who was formerly an investor at the European climatetech firm World Fund, imagines a future where energy tariffs dictate when energy-intensive appliances run.

Persons: Rajesh Swaminathan, it's, Andrés Dancausa, Dancausa, Swaminathan, Victoria McIvor, Timothy Barat, Barat, Duncan Turner, SOSV, Turner, McIvor Organizations: Infrastructure, Service, International Energy Agency, Paris, Investors, Khosla Ventures, US Department of Energy, Fund, Octopus Energy, Continuum Industries, Software Locations: Europe, Ukraine, Portuguese, Amsterdam, California, London, VCs, Scottish

☆ See the pitch deck that helped a former Goldman Sachs exec raise $5 million for an AI-powered networking startup that feeds deal ideas to bankers
▼ + stars: | 2024-03-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +5 min

Doctor, then a Goldman Sachs managing director who ran the bank-solutions group based in Hong Kong, was visiting the bank's London office. The AI startup was built to suggest potential deals based on the data it's exposed to. Louisa AI knows that a current Goldman employee used to work at the semiconductor company, and the AI knows a project-finance employee in New York. In an article about solar panels, Louisa AI would link the words "solar panels" to "solar" and then to "renewables." Here's the pitch deck Louisa AI used to raise $5 million to fund its AI-powered deal prompter.

Persons: Rohan Doctor, Goldman Sachs, Doctor, Jim Esposito, Louisa AI, Louisa, Janet Yellen Organizations: Business, Blue9, Insight Partners, Goldman, Oxford Locations: Hong Kong, London, Asia, Oxford, Canada, Here's, Taiwan, New York

☆ It's March Madness time — and we mean business
▼ + stars: | 2024-03-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we've made a March Madness bracket to decide the biggest topics in business, tech, and innovation, and we need you to vote . [2] Interest rates vs. [7] US-China relations: The biggest question in the market is when the Federal Reserve will lower rates. China doesn't have as direct an impact on US businesses as interest rates, but it's not far behind. Anna Moneymaker/Getty ImagesThe Fed holds the line on interest rates.

Persons: —, Jensen, we've, ya, Kevin Frayer, Chelsea Jia Feng, it's, Elon Musk, Jerome Powell, Anna Moneymaker, he's, Goldman Sachs, Russell Horwitz, hasn't, Greg Doherty, Mustafa Suleyman, Karén Simonyan, Sam Altman, Alex Nabaum, It's, Elon Musk's Neuralink, Noland Arbaugh, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Federal Reserve, EV, Boomers, Fed, UBS, BI, Wall, Variety, New York Stock Exchange, Microsoft, Amazon, FedEx, Nike Locations: China, VCs, Valley, New York, London

☆ Anthropic-backer Menlo Ventures is preparing for a 'gold rush' of AI infrastructure startups. Here's why.
▼ + stars: | 2024-03-18 | by ( Samantha Stokes | Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

Menlo Ventures has been an early backer of AI powerhouses including security startup Abnormal, LLM developer Anthropic, and vector database Pinecone. "AI itself is not new, I think it's just how mainstream it's become," Matt Murphy, a Menlo Ventures partner who invests in SaaS and robotics startups, told Business Insider in an interview. AI's "picks and shovels"Murphy and fellow Menlo Ventures partner Tim Tully say that 2024 will be a big year for the "picks and shovels" of AI. There's room in the game for more LLMsSam Altman's OpenAI has been at the forefront of the generative AI revolution. Other vector database startups including Chorma and Weaviate have also raised millions from VCs.

Persons: —, Siri, Warby Parker, Matt Murphy, OpenAI, AI's, Murphy, Tim Tully, Tully —, Sana, Lindy, we've, Tully, Sam Altman's OpenAI, it's Organizations: Service, Valley's, Menlo Ventures, Business, Menlo, Cisco, Oracle, Meta, Google Locations: Snowflake, Anthropic

☆ Some wealthy people lost millions in the FTX collapse. But others say they've lost their entire life savings.
▼ + stars: | 2024-03-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

The memo includes statements from victims who say their lives have been upended by the FTX collapse. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . At the time of the collapse, FTX's bankruptcy filings said that the exchange could owe money to about one million creditors. If you lost money in the FTX collapse and would like to share your story, reach reporter Lloyd Lee at (646) 768-1630.

Persons: Sam Bankman, —, Tom Brady, Brady, Axios, Lloyd Lee Organizations: Service, Star NFL, Companies, Sequoia Capital Locations: Africa, FTX, Delaware

☆ Healthcare deals are picking up as VCs finally reopen their wallets. Here's what they are betting on.
▼ + stars: | 2024-03-14 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +6 min

Investors aren't anticipating healthcare funding to surge to anything resembling 2021 levels this year, and fewer deals could mean shutdowns for many companies running low on cash. Multiple healthcare startups have announced raises this year at Series B and beyond. Investors said there's now a higher bar for which startups get venture funding compared to 2021, however. Exits and shutdowns aheadWhile a number of biotech startups have jumped into the public markets already this year, the IPO window for healthcare startups has remained firmly shut. Still, many investors are optimistic that a few healthcare startups will test the waters later this year.

Persons: Anargha Vardhana, There's, they're, Christina Farr, haven't, Richard Drury, Scott Barclay, Shiv Rao, Vardhana, there's, Farr, Sara Choi, Ritankar Das, Supriya Jain, Jain, Barclay Organizations: Business, Insight Partners, Investors, Entrepreneurs, Wing Venture Capital, Boston Consulting Locations: orthopedics

☆ Fintech Naro wants to take advantage of Europe's ETF boom. Check out the 10-slide pitch deck it used to raise $3 million.
▼ + stars: | 2024-03-14 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Naro, a German fintech startup, has raised $3 million in pre-seed funding. Cologne-based Naro, founded in 2022, wants to take advantage of the boom in exchange-traded funds — or ETF — products in Europe to offer white-label services to various banks, funds, and brokers. Naro's pre-seed funding round was led by Berlin's La Famiglia alongside Discovery Ventures, plus investment from Robin Capital, Angel Invest, and various angels. Funding will go towards expanding the startup's current team of 10 staff as it looks to partner with potential customers looking to build out products within their existing infrastructure. Naro's business plan subsequently changed from its original slides, you can see a version of its pre-seed pitch deck below:

Persons: Chris Püllen, Püllen, Naro's, Berlin's La Organizations: Business, Trade Republic, Discovery Ventures, Robin Capital, Angel Invest, Credit Suisse Locations: Naro, Cologne, Europe, Germany

☆ Inside Startupland's 'Shroom Boom'
▼ + stars: | 2024-03-13 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +11 min

This story is available exclusively to Business Insider subscribers. Frohman is part of a small but growing community within the startups industry that is experimenting with small doses of psilocybin to improve focus and productivity. Business Insider spoke with multiple founders and investors who microdosed, but wished to be anonymous. The person declined to share their name for publication, but their identity is known by Business Insider. Vancouver-based Filament Health is working to expand access to natural psychedelics through an extraction and drug-discovery process, while brick-and-mortar shops Shroomyz and Fun Guyz are further fueling the Canadian "'Shroom Boom".

Persons: Scott Frohman, Frohman, hasn't, Microdosing, James Fadiman —, Koel Robinson, Robinson, Richard Laver, Steve Jobs, Peter Grinspon, Grinspon, Peggy Van de Plassche, Van de Plassche, She's, Justin Zhu, I'm, microdosing, they're, It's Organizations: Business, Rocket Beverage Group, Erewhon, Foods, Massachusetts General Hospital, Harvard Medical School, BMO, PsyMed Ventures, Noetic Fund Locations: Florida, San Francisco, Denver, Minneapolis, In Oregon, California , Iowa, Washington State, Vermont, Massachusetts, Vancouver, Palo Santo

☆ Climate and infrastructure startups are leaning into modularity — and investors are paying attention
▼ + stars: | 2024-03-11 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +5 min

The lines between climate tech and infrastructure startups have become increasingly blurred. Investments in infrastructure startups over time. Permitting remains a massive roadblock for climate projects and modularity can be one way to "get around some of those hurdles," added Ben Wolkon, partner at MUUS Climate Partners. Modular tech can also be distributed and containerized, with some startups hoping to roll out with partners on-site. It's not just industrial startups that are going modular and distributed — it encompasses carbon capture, water filtration, food systems, and energy, said Regeneration.VC's Hoffman.

Persons: Katie Hoffman, Mike Schroepfer, Seonghoon Woo, Tim Boeltken, Sierra Peterson, Ben Wolkon, It's, Regeneration.VC's Hoffman Organizations: Business, Venture, Investments, Facebook, Gigascale, MUUS Climate Partners Locations: Paris, New York

☆ Fintech Griffin just secured full regulatory approval. Here's the 12-slide pitch deck it used to raise $24 million as a fully-fledged bank.
▼ + stars: | 2024-03-11 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

British banking-as-a-service fintech Griffin has raised new funding after receiving regulatory approval to be a fully operational bank. The market is god awful, so not having to do a down-round, with outside investors coming in, is the best outcome." Griffin has raised £19.1 million, around $24 million, in a funding round led by MassMutual Ventures, NordicNinja, and Breega, with participation from Notion Capital, EQT Ventures, DG Daiwa and CircleRock. "We are hiring, but unlike earlier rounds, we aren't going on a hiring blitz, as we did the hiring for this round before the round closed. We were about to be a fully operational bank, so we needed operations roles," Jarvis added.

Persons: fintech Griffin, Griffin, David Jarvis, Allen Rohner, Jarvis, We've Organizations: Business, Prudential, Authority, Financial, MassMutual Ventures, NordicNinja, Notion, EQT Ventures, DG Locations: London

☆ A founding partner of VC firm 776 explains why she's still optimistic about creator-economy startups as the hype cycle ends
▼ + stars: | 2024-03-11 | by ( Marta Biino | ) www.businessinsider.com time to read: +3 min

Read previewFor Katelin Holloway, the people who say creator startups are "dead" are missing the point of the creator economy entirely. "I'm not talking about the epic stars and the MrBeasts of the world," Holloway told Business Insider. This story is available exclusively to Business Insider subscribers. Holloway is a founding partner at Seven Seven Six, the early-stage VC firm started in 2020 by Reddit founder Alexis Ohanian. The end of the hype cycle around creator-economy startups is part of the intrinsic nature of venture capital — VC "loves hype cycles," said Holloway.

Persons: —, Holloway, Alexis Ohanian Organizations: Service, Business, Seven Seven Locations: —

☆ First it was warehouses taking over America. Now it's data centers.
▼ + stars: | 2024-03-10 | by ( Matt Turner | Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

On the agenda today:This story is available exclusively to Business Insider subscribers. Jahi Chikwendiu/The Washington Post via Getty ImagesThis week's dispatchData center boomAmerica's biggest warehouse owner is getting in on the data center game. Data centers are going up across rural America, impacting communities and placing strains on utilities. Unlike other businesses, venture firms don't suddenly go out of business. Such a dream will require more money than has ever been spent on any business venture in history.

Persons: —, Jahi, Prologis, ecommerce, Alyssa Powell, We've, Bitcoin, PitchBook, Alastair Grant, Rebecca Zisser, Altman's, Altman, Elon Musk, Jeff Peticolas, Matt Turner, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Business, Washington, Getty, Blackstone, Big Tech, bitcoin Locations: America, Michigan, New York

☆ The breathtaking scope of Sam Altman's future AI empire
▼ + stars: | 2024-03-07 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +9 min

If Sam Altman is to achieve his dream of artificial general intelligence in his lifetime, that number will need to double or triple every year for the foreseeable future. These wide-ranging plans for global transformation go far beyond Altman's role as the CEO of generative AI behemoth OpenAI, developer of ChatGPT. EnergyThe first pillar of Altman's grand unified theory of the future rests on energy. Headlining the event was company chairman and investor Sam Altman, who appeared via video call projected on a towered cineplex. And Altman's AGI empire extends beyond just the energy and raw material required to build AGI.

Persons: Sam Altman, he's, Altman, it's, Max, Jack, Sam himself, Sam, David Kirtley, Helion, He's, Joe Betts Lacroix, Lacroix, where's, Joe Biden, Tade Oyerinde, Oyerinde, Ali Ghodsi, Ghodsi Organizations: Nvidia, Business, Elon, Altman, OpenAI, Energy, Bloomberg, Concorde, Wall Street, Retro Biosciences, Capitol, PAC Locations: Silicon Valley, OpenAI, Davos, New York, Redmond , Washington, Washington

When it comes to newer consumer-social startups, the environment they're entering is turbulent — investor checks have dwindled, users are facing subscription burnout, and successful advertising models require massive scale. AdvertisementSo how are the emerging, buzzy social startups approaching monetization in 2024? "There's really only two monetization business models for consumer products," said Tiffany "TZ" Zhong, founder of new social platform NoSpace and early-stage VC firm Pineapple Capital. 3 ways new social-networking startups are approaching monetizationWhile some newer social startups are already monetizing their product, many are still pre-revenue and experimenting with different models to see which will make sense for their product and audience. And Verse CEO Bobby Pinckney told BI that the social platform, centered around music, plans to add a premium subscription that will unlock advanced AI tools, analytics, and templates.

Persons: —, there's, Eric Wittman, Tiffany, Zhong, VCs, Bianca Ambrosini, Ambrosini, Marlon Nichols, Nichols, Emma Bates, Andrew Kahn, Danial Hashemi, Alexandra Debow, Bobby Pinckney Organizations: Service, Meta, Business, Pineapple, Mac Venture Capital, Twitter, Crush Ventures, Crush, BI Locations: Berlin

☆ The rise of 'zombie' VCs puts startups that took funding from them in a difficult spot
▼ + stars: | 2024-03-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

What's on deckAdvertisementBut first, zombie, zombie, zombie-ie-ie-ie. AdvertisementThat's why zombie VCs pose such a problem for the industry. Sussing out the prudent investor from the penniless one takes time and effort, two things startups can't necessarily afford when times are tough. AdvertisementIs having a zombie VC as an investor the equivalent of a scarlet letter? If a partner jumps ship from a zombie VC, startups they backed will be in a tough spot.

Persons: —, here's, Insider's Ben Bergman, Ben, it's, Alyssa Powell, Morgan Stanley, Goldman Sachs, Ray Dalio isn't, Sundar Pichai, Marissa Mayer, Yahoo's, Cory Doctorow, He's, Smashmallow, they've, Jack Teixeira, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, BI, Bridgewater, Bank of America, Trading, Google, Canadian, Singapore Locations: There's, Silicon Valley, British, Singapore, Israel, New York, London, Chicago

☆ '2024 will be the year of the zombie VC reckoning.' The first wave of walking-dead venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

Unlike other businesses, venture firms do not suddenly go out of business. Limited partners such as pensions and endowments that fund venture firms have been choosier, cutting off capital to firms that have not generated acceptable returns. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December that it was suspending new investments and laying off staff. In a written statement, he later explained that Sinai Ventures has been rebranded to Sinai Capital Partners. Do you know of a venture firm no longer actively investing?

Persons: VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame —, Fudge, We're, Paul Weinstein, Weinstein, Ryan Swager, Brandon Zeuner, Alsop Louie, Alsop Louie Partners, Gilman Louie, Stewart Alsop, Jason Preston, Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Divergent's, Hone, Ben Bergman Organizations: Business, Bloomberg Beta, Lightship Capital, Sapphire Partners, BI, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Alsop Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, Alto , California, San Mateo , California, Lumia, Seattle, bbergman@insider.com

☆ '2024 will be the year of the zombie VC reckoning.' The first wave of dying venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

AdvertisementUnlike other businesses, venture firms do not suddenly go out of business. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December it was suspending new investments and laying off staff. With the help of Pitchbook, BI looked through data for hundreds of venture firms. Hinge last raised a $19 million fund in 2021 but has not made an investment since November 2022, according to Pitchbook. Do you know of a venture firm no longer actively investing?

Persons: —, VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame, Fudge, We're, Paul Weinstein, Weinstein, Cofounders Ryan Swager, Brandon Zeuner, Louie, Alsop Louie Partners, Partners Gilman Louie, Stewart Alsop, Jason Preston, Partners Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Hone, Ben Bergman Organizations: Service, Business, Bloomberg Beta, Lightship, Sapphire Partners, BI, Sapphire Ventures, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, San Mateo , California, Seattle, Alto, bbergman@insider.com

☆ Venture capital firm's plan to buy nonprofit hospital system has Ohio community on edge
▼ + stars: | 2024-03-02 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +17 min

In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.

Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's

☆ It's becoming insane again in venture capital: A tiny AI startup wants investors to pay $100 to book a meeting with its founder.
▼ + stars: | 2024-03-01 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

A couple of days ago, startup founder Dan Siroker set his sights on meeting new investors. Siroker closed the process with 170 bids to sift through. Siroker told Business Insider this week that he isn't actively fundraising. Advertisement"When deals get hot, there is extreme interest," Ben Lerer, managing partner of Lerer Hippeau, an early-stage venture firm, told Business Insider's Ben Bergman late last year. "If you're not there long before the raising, you're not part of the conversation."

Persons: —, Dan Siroker, clamoring, whittle, Siroker, isn't, Andreessen Horowitz, they'd, Pavlo Gonchar, Ben Lerer, Lerer, Insider's Ben Bergman, there's, Dick Costolo, they're, Costolo, he'd Organizations: Service, Business, Getty, Twitter, Google, Nvidia, Boys & Girls Locations: haves, Silicon Valley

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