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Search resuls for: "Silicon Valley VC"


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While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.
Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe
When asked whether it's been worth the cost ( $30 monthly per user in the case of Copilot), tech leaders say they aren't sure. According to recent Deloitte research, two-thirds of organizations are increasing gen AI investments based on "strong early value to date." There are multiple reasons why companies will still be short on confidence when it comes to enterprise AI adoption, according to Deloitte. The Azure cloud offering from its biggest AI partner and AI investment, OpenAI, is in use at nearly two-thirds of companies. Forty-six percent of CNBC survey respondents said that within their organizations at least half of employees are now using AI.
Persons: it's, Jim Rowan, Anthropic, Mistral, Eric Schmidt —, Morgan Stanley, Copilot, Rowan Organizations: CNBC, Microsoft, CNBC Technology, Council, Deloitte, Microsoft Microsoft, Fortune, Capital Group, Disney, Dow, Kyndryl, Novartis, Deloitte Consulting, Meta, Silicon, OpenAI, AIs Locations: Europe
Monzo, a British fintech bank, is in talks with Alphabet's private investment arm Capital G to raise what is primed to be its last funding round before a public listing. The bank touts around 8.5 million customers in the UK and is best known for its bright coral pink bank cards. Fintech funding in Europe dropped 70% to $5 billion from $17.1 billion in the first half of 2023, compared with 2022, according to Finch Capital. The prospective funding round is set to be the fintech's last private raise before a mooted public debut that would likely take place in late 2024 or 2025. The British bank reported £116.3 million in losses last year despite more than doubling its revenue.
Persons: Monzo, Catalyst, Monzo's, Cash, Conor Walsh, Anil Organizations: Business, Sky News, Abu Dhabi Growth Fund, Silicon, VC, fintech, Finch, London, Starling Bank Locations: British, London, Abu Dhabi, New York, Europe, Monzo, Starling
Billionaire investor Chamath Palihapitiya discussed how AI could impact VCs. Palihapitiya said there was a "reasonable case to make" that the job could cease to exist. AdvertisementAdvertisementBillionaire investor and former Facebook exec Chamath Palihapitiya thinks AI will radically change the job of the venture capitalist. He said that changes to the industry sparked by AI could lead to VCs being replaced by "an automated system of capital against objectives." The rapid advancements in generative AI have sparked fears of job losses across industries, including in the financial sector.
Persons: Chamath Palihapitiya, Palihapitiya, , Chamath, Jason Calacanis, David Sacks, David Friedberg Organizations: Service, Facebook, Silicon, Silicon Valley VC, Social Capital, Deutsche Bank Locations: Silicon Valley
Y Combinator founder Paul Graham said he wouldn't live in San Francisco with kids due to crime. Graham, who lives in the UK, said he was out for dinner when masked men fired gunshots nearby. Robotaxi companies Cruise and Waymo recently got the go-ahead from the city to offer fully driverless rides 24/7 in San Francisco. Graham and the San Francisco Police Department did not immediately respond to Insider's request for comment about the incident. The San Francisco Chronicle reported that some of this feeling may be down to the public and "brazen" nature of the crimes.
Persons: Paul Graham, Graham, Y, Waymo, Elon Musk, Nordstrom, Bob Lee Organizations: Morning, San Francisco Police Department, City, San Francisco Chronicle, Old Navy, Foods, New York Times, Times Locations: San Francisco, Francisco's, City and County
Oracle is offering generative AI to its customers based on tech from a startup called Cohere. Oracle will be embedding Cohere's generative AI technology into a bunch of its products and Cohere will be using Oracle's cloud to train, build, and deploy its generative AI models, Oracle chairman and CTO Larry Ellison said. One is that Cohere is designed for enterprise customers, meaning companies can use their own data to train their AI models, without sharing that data. But at the moment, Cohere is the only partner Oracle announced to power its generative AI services for customers, though this could change one day. He was a research intern at Google Brain in 2017 when he co-authored a paper on a way of training AI models to improve their abilities to understand language.
Persons: Cohere, Geoffrey Hinton, Fei, Fei Li, Pieter Abbeel, Larry Ellison, That's, Ellison, OpenAI, ChatGPT, Salesforce, Aidan Gomez, cofounders, Nick Frosst, Ivan Zhang, Gomez Organizations: Oracle, Morning, NVIDIA, Salesforce Ventures, New York Times, Microsoft, Wall, Nvidia, Google, Cohere Locations: Cohere, OpenAI, Toronto
Apple has chosen AR/VR as the next big area to pursue with its new Vision Pro glasses. The product, which was shown off during an extensive demo by Apple on Monday, is called Apple Vision Pro (AVP). It represents years of research and the first major Apple product launched without the guiding hand and showmanship of the late Steve Jobs (if one doesn't count the Apple AirPods or Watch as major new products, and I do not.) And the Vision Pro isn't likely to have one either. Apple's Vision Pro can be used for FaceTime conversations AppleWith just their eyes, consumers already have large-screen viewing and playing experiences with 4K monitors on their walls connected to excellent video game consoles.
Persons: Apple, Michael Gartenberg, Steve Jobs, Apple —, it'd Organizations: Apple, Apple Vision Pro, Meta, Microsoft, iTunes Ping, AVP, Mac, Consumers Locations: Patagonia
Ozempic and ChatGPT have blown up in the year of the cure-all. As Justine Moore, investment partner at Silicon Valley VC firm a16z, tweeted this month: "By 2025, America is going to run on Ozempic and ChatGPT." CEOs running businesses that have nothing to do with AI are talking about ChatGPT during their quarterly earnings calls. But like Ozempic, AI comes with side effects. Samsung banned its employees from using generative AI tools after finding some of its engineers accidentally leaked internal source code by uploading it to ChatGPT in April.
Silicon Valley VC Keith Rabois says mass layoffs are due to hiring becoming a vanity metric in tech. Rabois told an Evercore-hosted event that firms like Meta over-hired by thousands of staff. It's all fake work," Rabois said. Speaking remotely from Miami at an event hosted by banking firm Evercore, he called out major tech firms for over-hiring and said the sector's current mass shedding of jobs to rein in costs was overdue. Later on the call, he estimated that Alphabet's Google and Facebook owner Meta had thousands of employees who don't do anything.
The unraveling of fintech darling Vise
  + stars: | 2023-03-03 | by ( Stephanie Palazzolo | ) www.businessinsider.com   time to read: +28 min
It was April, and more than two dozen salespeople who worked for the fintech startup Vise had been ordered to a multiday off-site at the W Hoboken hotel in New Jersey to share exhaustive reports on their performance. Even salespeople at bigger, established, top-tier investment-management firms typically wouldn't close $250 million in a year, multiple sales employees said. (K-means clustering is an unsupervised machine-learning algorithm often referred to as a form of AI, Vise's founders said). (Vise's founders disputed this, saying the company received updated financial data only once a day for its portfolio-construction engine.) And to address its "leaky funnel" of overestimating prospective sales, Vise was to stop outreach to new clients while it onboards and upsells to existing clients, the document said.
AI search engine startup Perplexity AI is raising a funding round led by NEA, Insider has learned. The deal aims to raise between $20 and $25 million at a $150 million post-money valuation, according to sources. The fundraise continues the trend of large rounds and valuations in the buzzy generative AI space. AI search engine startup Perplexity AI is in talks to raise a funding round led by NEA, according to three people with knowledge of the financing who were not authorized to speak publicly. Perplexity AI cofounder and CEO Aravind Srinivas declined to comment.
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