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☆ Saudi Arabia is pulling back on a global spending spree to focus on its own projects
▼ + stars: | 2024-10-30 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Now the Kingdom plans to cut its foreign investment to prioritize domestic spending. AI is the new focus of investment as Saudi Arabia looks to position itself as a global technology hub. AdvertisementSaudi Arabia is pulling back on its global spending spree to focus on domestic investments. In September, Saudi Arabia held the third Global AI Summit, attracting a host of high-profile leaders and dealmakers. The new focus on domestic investment comes as Saudi Arabia's spending on Neom, its futuristic megacity in the desert, hit $1 trillion.

Persons: —, Yasir Al Rumayyan, we've, Al Rumayyan, Yasir Al, Rumayyan, Hamad I Mohammed, Uber, Andreessen Horowitz Organizations: Service, Public Investment Fund, Future Investment, Economic, REUTERS, Investors, Saudi Press Agency, Financial Times, Saudi, AI, Bloomberg, Sindalah Locations: Saudi, Saudi Arabia, Riyadh, Davos, Switzerland, Neom

☆ Anna Kendrick recalls ‘icky’ time director tried ‘power move’ in front of 100 extras
▼ + stars: | 2024-10-29 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +2 min

CNN —Anna Kendrick has recalled the “very icky” time a director tried to shame her in front of a room full of extras. She went on to recall a story about an unnamed director asking her to improvise something, only to later criticize her performance. Kendrick was asked by presenter Josh Horowitz what the worst note was that a director had ever given her. “Then the director came over and once again, in front of a hundred extras, went ‘oof, let’s go back to the script,’” she recalled. Kendrick said it “really felt like a very specific power move thing, to gain dominance or something.

Persons: Anna Kendrick, Kendrick, Josh Horowitz, ”, “, ‘, let’s, ’ ”, ” Horowitz, Alice, Darling Organizations: CNN, Netflix, Kendrick

☆ What These Founders Learned From Trying to Take on Elon Musk's Twitter
▼ + stars: | 2024-10-28 | by ( Amanda Hoover | ) www.businessinsider.com time to read: +9 min

About three weeks after Elon Musk bought Twitter in October 2022, #RIPTwitter started trending. As the bird app's outlook grew more bleak, several alternative conversation platforms hatched: Narwhal, Spoutible, Spill, Post, and Cohost among them. I talked to several founders about what they learned trying to compete with Musk, and the state of civil discussion online. "There's a ton of power in whoever controls" a big social media platform, Thompson says. Spill, a Black-owned social platform, has been downloaded more than half a million times.

Persons: Elon Musk, RIPTwitter, shitposting, Gabor Cselle, Cselle, Meta, Jack Dorsey, Twitter, Musk, Twitters, he's, imminently, Fortune, Noam Bardin, Andreessen Horowitz, Bardin, Laurene Powell Jobs, Nicholas Thompson, Thompson, Narwhal, Trump, Hitler, Alphonzo Terrell, Kerry Washington, Terrell, there's, Joe Biden, Kamala Harris, Harris, I've, I'm Organizations: Elon, Google, Twitter, Anti Software Software, Politico, Boston Globe, The, Amplica Labs, Democratic, Spill, Phillies

☆ VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo
▼ + stars: | 2024-10-26 | by ( Ben Bergman | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Venture firms are increasingly investing in competing LLM startups like OpenAI and xAI. Some VCs argue investing in multiple LLMs is strategic, while others see it as unethical. AdvertisementWhen venture firms pull out their checkbooks, there has traditionally been an unspoken rule: Do not back a competitor. Sound Ventures and Wisdom Ventures backed both OpenAI and Anthropic. There is also the matter of money, with only a handful of firms capable of writing the colossal checks required to fund LLM companies.

Persons: VCs, —, Joe Aaron, — Sheel, Andreessen Horowitz, Elon Musk's XAI, Ilya Sutskever, Umesh Padval, Padval, Anthropic, OpenAI, Gregg Hill, they've Organizations: Service, Sequoia Capital, Fidelity, Ark Invest, Sound Ventures, Wisdom Ventures, Thomvest Ventures, Parkway Venture, Madrona Ventures, NASDAQ Locations: OpenAI, Canadian

☆ 2 swing states show why the US is struggling to build enough houses
▼ + stars: | 2024-10-25 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

Two swing states — Arizona and Pennsylvania — exemplify in their own ways how housing markets across the country have failed to address the key issue they face: too few homes. Sprawling subdivisions helped accommodate the growing population and were enough to keep housing costs relatively low through the early 2010s. As demand spiked, snarled supply chains helped inflate construction costs. Home prices have risen 39% since January 2020, Horowitz noted, even though the state's population is shrinking. Like many other states, Pennsylvania has underbuilt housing since the 2008 financial crisis, which tanked the housing market.

Persons: —, Alex Horowitz, it's, Horowitz, Mario Tama, we've, Ben Metcalf, Metcalf, Josh Shapiro, Shapiro, Tucson Mayor Regina Romero, Kamala Harris, Donald Trump, He's, Harris, Redfin, Noah Sheidlower Organizations: Service, Pew's, Business, Getty Images, Terner Center, Housing Innovation, UC Berkeley, of Labor Statistics, Pennsylvania, Tucson Mayor, Federal Reserve Locations: Michigan, Wisconsin , Pennsylvania, Arizona, Georgia, North Carolina, Nevada, Zillow, Pennsylvania, Phoenix, . Pennsylvania

☆ Alphabet's self-driving unit Waymo closes $5.6 billion funding round as robotaxi race heats up in the U.S.
▼ + stars: | 2024-10-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Waymo has closed a $5.6 billion funding round to expand its robotaxi service in and beyond Los Angeles, San Francisco and Phoenix, where it operates today. In a statement to CNBC, Waymo co-CEOs Tekedra Mawakana and Dmitri Dolgov said the funding would go toward expansion and advancing the Waymo Driver for business applications. The series C funding brings Waymo's total capital raised to $11.1 billion after it raised $3.2 billion and $2.5 billion in two earlier rounds. Waymo now conducts more than 100,000 weekly trips for passengers in Los Angeles, Phoenix and San Francisco, who can hail their robotaxis via the Waymo One app. More recently, Waymo partnered with Uber to launch its robotaxi service in Austin, Texas — home of would-be rival Tesla's headquarters.

Persons: Waymo, Andreessen Horowitz, Perry, Rowe Price, Tekedra Mawakana, Dmitri Dolgov, Uber, Ruth Porat, Elon Musk, Tesla, Timothy B, Lee . Organizations: Google, Fidelity, Tiger Global, CNBC, Tesla's, GM, Cruise, Pew Research Center, Hyundai Locations: Los Angeles, San Francisco, Phoenix, Waymo, Silver, Austin, Atlanta, U.S, Austin , Texas, Texas, California, Korean, New York, Michigan

☆ Bayesian Health CEO Suchi Saria Leads Healthcare Data Revolution
▼ + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Saria, part of Business Insider's 2024 AI Power List, directs the machine learning and healthcare lab at Johns Hopkins University and is the founder and CEO of the AI startup Bayesian Health. Related storiesSaria has continued to research healthcare AI at Johns Hopkins. For her work in healthcare AI, the World Economic Forum named her a Young Global Leader in 2018. In 2022, Saria cofounded the Coalition for Health AI, which brings federal agencies and healthcare organizations to discuss best practices for using healthcare AI. She also helped the National Academy of Medicine develop its code of conduct for AI deployment, released earlier this year.

Persons: Saria, Barack Obama, Andreessen Horowitz, Oracle's Cerner, It's, Johns, She's, — she's Organizations: Johns Hopkins University, Stanford, Bayesian, Nature Medicine, Cleveland Clinic, Northwell, Johns Hopkins, Economic, Global, Coalition for Health, National Academy of Medicine

☆ Abercrombie’s worst nightmare is back. But its customers have moved on
▼ + stars: | 2024-10-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

“We are a positive, inclusive brand, with a nice sensibility, very different from what they encountered in the past,” Fran Horowitz, now Abercrombie’s CEO, said in 2016. Today, Abercrombie’s stores are lighter than they once were and its clothes are looser. Abercrombie’s sales have grown and its stock has increased more than 400% since Jeffries stepped down as CEO. But retail analysts say that Abercrombie’s brand won’t be hurt by the indictment because of how much separation Abercrombie has been able to create from its former CEO. Older Abercrombie customers who remember the brand’s sexualized marketing have accepted Abercrombie’s rebrand, while a new generation of customers are too young to remember the old era.

Persons: Fitch, Mike Jeffries, Jeffries, Abercrombie, “, ” Fran Horowitz, Jeffries ’, ”, ” Jeffries, Fran, Marni Shapiro, Neil Saunders, Shapiro, Papa John’s, Shaq, John Schnatter, Chip Wilson, Wilson, Lululemon, CNN’s Brynn Gingras, Kara Scannell, John Towfighi Organizations: New, New York CNN, Abercrombie, Attorney, Eastern, of, XXL, Netflix, Fitch, Penske Media, GlobalData, CNN Locations: New York, Peace, U.S, of New York

☆ Abercrombie & Fitch responds to former CEO's sex trafficking arrest, says it will cooperate with law enforcement
▼ + stars: | 2024-10-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Former Abercrombie & Fitch Chairman and CEO Mike Jeffries addresses stockholders during the company's annual meeting at its headquarters in New Albany, Ohio, on May 22, 2003. Abercrombie & Fitch washed its hands of its former CEO Mike Jeffries after he was arrested on federal sex trafficking charges, saying in a Wednesday statement the company is "committed to fully cooperating with law enforcement as the legal process continues." Jeffries and Smith are accused of coercing aspiring Abercrombie models into sex acts in exchange for modeling gigs, among other acts. In its statement, Abercrombie said it supports the victims who have come forward. "Our thoughts remain with those who have bravely raised their voices as part of the federal investigation."

Persons: Mike Jeffries, Fitch, Jeffries, Abercrombie, Jeffries —, Matthew Smith, Smith, Brian Bieber, Bieber, Fran Horowitz Organizations: Abercrombie, Fitch, Abercrombie & Fitch Co, CNBC, BBC, NBC Locations: New Albany , Ohio

In this article ANF Follow your favorite stocks CREATE FREE ACCOUNTFile: Mike Jeffries, then Abercrombie & Fitch CEO in 2005. Michael Loccisano | FilmMagic | Getty ImagesFormer Abercrombie & Fitch CEO Mike Jeffries and two other men were arrested and charged with 16 counts of sex trafficking and interstate prostitution by federal prosecutors in New York, case documents made public Tuesday showed. All three men face one count of sex trafficking and 15 counts of interstate prostitution related to alleged misconduct that spanned from December 2008 to March 2015. The indictment in U.S. District Court in Long Island alleges that the defendants and others "operated an international sex trafficking and prostitution business" during that time. Shares of Abercrombie & Fitch are up nearly 80% so far this year, after outperforming tech stars like Nvidia and Meta in 2023.

Persons: Mike Jeffries, Michael Loccisano, Jeffries, Matthew Smith, James Jacobson, Smith, Abercrombie, Fran Horowitz, Fitch, Hannes Magerstaedt, Jacobson, Brian Bieber, Michael Jeffries, presser, Richard Levine Organizations: Abercrombie, Fitch, FilmMagic, Getty, Former Abercrombie, CNBC, Nvidia, Meta, of, NBC News, BBC, Herald, Corbis Locations: New York, West Palm Beach , Florida, Brooklyn, U.S, Long, Manhattan, Munich, Germany, West Palm Beach, Madison , Wisconsin, Eastern, of New York

☆ 'Flexible co-living' could help bring down office-conversion costs and add housing supply, new study says
▼ + stars: | 2024-10-22 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

A study finds that dorm-style housing could be an efficient path to convert vacant office space. The study comes as office vacancies rise and housing supply remains constrained. The report comes as companies reevaluate their need for office space in the wake of the COVID-19 pandemic. The national office vacancy rate is set to rise to around 20% by the end of this year, according to commercial real estate firm CBRE. The report comes as the number of office spaces set for residential conversions is on the rise, up to 55,000 this year.

Persons: —, Wes LeBlanc, Alex Horowitz Organizations: Service, Pew Locations: Denver, Minneapolis, Seattle

☆ Matt Smith says he hasn't 'heard a thing' about 'House of the Dragon' season three. Here's what we know about its progress.
▼ + stars: | 2024-10-21 | by ( Eammon Jacobs | Palmer Haasch | ) www.businessinsider.com time to read: +3 min

Matt Smith said he hadn't "heard a thing" about "House of the Dragon" season three. Showrunner Ryan Condal previously said the aim is to start filming season three in early 2025. AdvertisementMatt Smith told audiences at New York Comic-Con that he hadn't "heard a thing" about "House of the Dragon" season three. AdvertisementBut the sheer scale of "House of the Dragon" means it can take a long time to write, produce, shoot, and edit a season. "House of the Dragon" showrunner Ryan Condal previously explained the timeline for season three shortly after the season two finale.

Persons: Matt Smith, Daemon Targaryen, Ryan Condal, —, George R, Queen Rhaenyra Targaryen, Emma D'Arcy, Joshua Horowitz, Smith, Tom Glynn, Carney, Fabien Frankel, Glynn, I've, Frankel Organizations: HBO, Service, New York, Business, Hollywood Reporter Locations: British

☆ David Harbour says the 'Stranger Things' cast was 'uncontrollably sobbing' at the series finale — what he says is the 'best episode' of the series
▼ + stars: | 2024-10-19 | by ( Palmer Haasch | ) www.businessinsider.com time to read: +3 min

David Harbour says the "Stranger Things" cast cried during the finale table read. "Stranger Things" is currently in production on its fifth and final season. Harbour says he can be critical of the show — but that the final episode managed to "land the plane." AdvertisementDavid Harbour says that he can be one of "Stranger Things'" biggest critics — but in his book, the series finale is good. AdvertisementDavid Harbour and Millie Bobby Brown as Hopper and Eleven in "Stranger Things" season four.

Persons: David Harbour, —, Josh Horowitz's, David, Millie Bobby Brown, Hopper, it'll, Noah Schnapp, Schnapp, Finn Wolfhard, Caleb McLaughlin, Gaten Matarazzo Organizations: Service, New York Comic Con, Harbour, Netflix

☆ Venture capital is going to war over the election. Here's the data to prove it.
▼ + stars: | 2024-10-19 | by ( Rob Price | Melia Russell | ) www.businessinsider.com time to read: +10 min

VCs are lobbing cash at the presidential election and key congressional races, FEC data shows. This election cycle, investors at the top venture capital firms have plowed tens of millions of dollars into the election, both backing their favored political candidates and just cannily promoting commercial interests. (The filing deadline for Q3 data for quarterly filing entities was October 15, but this data isn't yet readily available in full online.) Business Insider selected 10 venture capital firms to focus on, taking into account fund size and cultural and industry significance. Sequoia Capital's Doug Leone is one of VC's most prolific GOP-aligned political donors, giving his almost $3.8 million to the National Republican Committee and other causes.

Persons: Reid Hoffman, Kamala Harris, —, hasn't, Andreessen Horowitz, blockchain, Marc Andreessen, Ben Horowitz, a16z, Horowitz, Andreessen, Harris, megadonor Reid Hoffman, Keith Rabois, Kleiner Perkins, Michael Moritz, Shaun Maguire, Joe Manchin, Hoffman, Horowitz Hoffman, Joe Biden, Biden, Nikki Haley, Trump, Vinod Khosla, John Doerr, Doug Leone, Elon Musk, Melia Russell, Rob Price Organizations: Service, Federal, Commission, Yuga Labs, White, Republicans, Founders Fund, SpaceX, Khosla Ventures, Sequoia Capital, Sequoia Heritage, Business, Republican, Lincoln, Democratic, Democratic Party, Democratic Congressional, Sequoia, National Republican, Future Forward PAC, America PAC, Elon, Investors, splashy Hamptons, Harris Victory Fund, Harris Action Fund, Democratic National Committee Locations: Solana, Sequoia, West Virginia, New Hampshire

☆ Millions lose power every year because of extreme weather. Here’s how experts say we can prevent it
▼ + stars: | 2024-10-18 | by ( Ella Nilsen | ) edition.cnn.com time to read: +5 min

This ability to get electricity from one part of the country to another is ever more important as America’s grid is lashed by increasingly extreme weather. Extreme weather isn’t the only reason the grid needs to expand. “We run a VHS grid for a Hulu economy.”America’s grid is actually three grids: the Eastern and Western interconnections, plus the independent Texas grid. The physical electrical lines connecting all of the systems are fragile and outdated, experts told CNN. Clements cautioned that even a bigger grid can’t solve all the challenges posed by climate change-fueled extreme weather.

Persons: Cary Kottler, ” Kottler, Helene, Milton, ”, Allison Clements, “, you’ve, Clements, ” Clements, Rob Gramlich, Ariel Horowitz, Horowitz, Biden, Jennifer Granholm, there’s, Hurricane Helene Organizations: CNN, Texans, Pattern, Energy, “, Energy Department, DOE Locations: Uri, Texas, California

☆ Andreessen Horowitz's Katherine Boyle talks deregulating space
▼ + stars: | 2024-10-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAndreessen Horowitz's Katherine Boyle talks deregulating spaceKatherine Boyle, Andreessen Horowitz general partner, joins 'Closing Bell Overtime' to talk the deregulation of commercial space.

Persons: Andreessen, Katherine Boyle, Andreessen Horowitz

☆ After rejecting Google takeover, cyber firm Wiz says it will IPO 'when the stars align'
▼ + stars: | 2024-10-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

LONDON — Cybersecurity firm Wiz is seeking to hit $1 billion of annual recurring revenues next year, the company's billionaire co-founder Roy Reznik told CNBC, adding that the firm will go public "when the stars align." Earlier this year, the company rejected a $23-billion acquisition bid from Google , which would have marked the tech giant's largest-ever takeover. At the time, Wiz CEO Assaf Rappaport said the startup was "flattered" by the offer, but would remain an independent company and aim to list instead. "We've already broken a few records as a private company, and we believe we can also break a few more records as an independent public company as well," Reznik said. Four-year-old Wiz has raised $1.9 billion in venture capital to date, including $1 billion secured this year in a funding round led by Andreessen Horowitz, Lightspeed Venture Partners and Thrive Capital at a valuation of $12 billion.

Persons: Wiz, Roy Reznik, Assaf Rappaport, Reznik, Andreessen Horowitz Organizations: CNBC, Amazon Web Services, Microsoft, Google, Lightspeed Venture Partners Locations: Tel Aviv, Israel, London

☆ GOP megadonors open their wallets for Trump: From the Politics Desk
▼ + stars: | 2024-10-16 | by ( The Politics Desk | ) www.nbcnews.com time to read: +10 min

Three Senate Democratic candidates — Ohio Sen. Sherrod Brown, Maryland’s Angela Alsobrooks and Michigan Rep. Elissa Slotkin — raised more than four times as much as their Republican opponents during that period. In 2016, Trump lost the core Democratic states by 22 points, and in 2020, he lost them by 24 points. In this most recent poll, Trump was losing the core Democratic states by only 13 points. In 2016, Trump won the core GOP states by 18 points, and in 2020, his margin in the red states was 16 points. Read more → Follow live coverage from the campaign trail →That’s all from the Politics Desk for now.

Persons: Ben Kamisar, Bridget Bowman, Chuck Todd, Ben Kamisar Republican megadonors, Donald Trump, Kamala Harris, Miriam Adelson, Sheldon Adelson, Elon Musk, Marc Andreesen, Ben Horowitz, Ike Perlmutter, Richard Uihlein, Adelson, Harris, Musk, Trump, Horowitz, Perlmutter, Lara, Uihlein, Read, Ben →, lissa, ince, arris, huck, rena, huck →, hal, bate, Ted C Organizations: NBC, White House, Capitol, Electoral, Trump, Ben Kamisar Republican, Dallas Mavericks, Tesla, Marvel, Preserve, America, America PAC, Restoration PAC, Wisconsin Senate, Congressional, Trump MAGA Inc Locations: Preserve America, Maine, ried, ote

And that massive total doesn't include fundraising by the main pro-Trump super PAC, MAGA Inc., which will file its fundraising reports by Sunday. Adelson gave $95 million to Preserve America, a super PAC she’s almost entirely funded, during the third fundraising quarter, after previously giving the group $5 million in the prior quarter. Right for America, another pro-Trump group, raised $28 million last quarter — with multimillion-dollar checks from Andreesen, Horowitz and Perlmutter as well as Perlmutter's wife, Lara. The super PAC has spent heavily on the presidential race as well as on the Wisconsin Senate and Maine 2nd Congressional District campaigns. Harris has plenty of super PAC backup, too: Future Forward (known as FF PAC) had raised $200 million through August, while MAGA Inc. had raised $280 million.

Persons: megadonors, Donald Trump, Kamala Harris, Miriam Adelson, Sheldon Adelson, Elon Musk, Marc Andreesen, Ben Horowitz, Ike Perlmutter, Dick Uihlein, Adelson, Harris, Musk, Trump, Horowitz, Perlmutter, Lara, Uihlein, Dianne Hendricks, Harris ’, Joe Biden, —, it’s Organizations: Trump, Dallas Mavericks, Tesla, Marvel, MAGA Inc, Sunday, Preserve, America, America PAC, Restoration PAC, Wisconsin Senate, Congressional, Trump MAGA Inc, FF PAC, NBC, Harris, Democratic National Committee, Democratic Locations: Preserve America, Maine, Wisconsin

☆ Marc Andreessen and Ben Horowitz each donated $2.5 million to a pro-Donald Trump super PAC
▼ + stars: | 2024-10-16 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

New FEC filings reveal the pro-Trump super PAC "Right for America" attracted major donors. Marc Andreessen and Ben Horowitz each donated $2.5 million to the super PAC, the filings show. According to the Federal Election Commission documents, Andreessen and Horowitz each donated $2.5 million to the "Right for America" PAC. Andreessen and Horowitz announced their support for Trump in July during an episode of the "The Ben & Marc Show" podcast. Representatives for Andreessen Horowitz and the Right for America PAC did not immediately respond to requests for comment from Business Insider.

Persons: Marc Andreessen, Ben Horowitz, —, Andreessen, Horowitz, Donald J, Trump, Ben, Marc, Kamala Harris, Harris, Donald Trump, Elon Musk, Musk, Barack Obama, Hillary Clinton, Isaac Perlmutter, Laura, Marc Rowan, Andreessen Horowitz Organizations: Trump, Marvel Entertainment, Apollo Global Management, Service, Federal, America, PAC, Google, Little Tech, Trump PAC, Democratic, Republican, Tesla, America PAC, for America PAC, Business Locations: America

☆ A pro-Trump PAC has received millions in crypto donations since June
▼ + stars: | 2024-10-16 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

A pro-Trump PAC has raised more than $7.5 million in cryptocurrency donations since June. Trump 47 PAC raised the amount in bitcoin, ether, USDC, and other cryptocurrencies, per FEC filings. AdvertisementA political action committee called Trump 47 has raised $7.5 million in cryptocurrency donations for former President Donald Trump's White House bid. According to Federal Election Commission filings on Tuesday, the Trump 47 PAC received donations in bitcoin, ether, XRP, and other cryptocurrencies. But in May, Trump hosted an event in Mar-a-Lago, where he said he would accept cryptocurrency donations for his campaign.

Persons: —, Donald Trump's, Cameron, Tyler Winklevoss, Trump, I've, cryptocurrency, bitcoin, he'll, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Elon Musk, Kamala Harris, Mark Cuban, Cuban Organizations: Trump PAC, Trump, PAC, Service, Federal, Records, Liberty, AFP, Fox Business, United, FEC, America, America PAC — Locations: United States, Mar, Nashville

☆ Harris PAC's $1 million contribution from Ripple's Chris Larsen shows crypto industry warming to VP
▼ + stars: | 2024-10-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

In total, Larsen has given around $1.9 million to support Harris' campaign directly and through PACs, according to FEC data compiled by crypto market and blockchain analyst James Delmore and independently verified by CNBC. Nearly half of all the corporate money flowing into the election has come from the crypto industry, according to a recent report from the nonprofit watchdog group Public Citizen. "What we've had to date has been almost like purposeful chaos by Gensler to kind of crush the domestic industry," Larsen said. Horowitz said that he and his wife, Felicia, "have known Vice President Harris for over 10 years and she has been a great friend to both of us during that time." On Monday, the Harris campaign unveiled its "Opportunity Agenda for Black Men" in a report.

Persons: Chris Larsen, Donald Trump's, Chris Larsen isn't, Ripple, Kamala Harris, Larsen, who's, Harris, he's, Biden, " Larsen, isn't, James Delmore, that's, Evelyn Hockstein, Andreessen Horowitz, Trump, keynoted, Josh Shapiro, John Deaton, Massachusetts Republican who's, Democratic Sen, Elizabeth Warren, Nancy Pelosi, Gary Gensler, Brad Garlinghouse, Marvin Ammori, Skybridge Capital's Anthony Scaramucci, Scaramucci, Warren, Ben Horowitz, Marc Andreessen, Horowitz, Felicia, Delmore Organizations: YouTube, White, CNBC, Biden, Democratic, Harris, Fund, Forbes, Public Citizen, U.S, Erie International Airport, Democratic Pennsylvania Gov, Massachusetts Republican, Nancy Pelosi Victory Fund, Biden PAC, SEC, Trump, Ripple, White House, Sen Locations: Bay, Erie , Pennsylvania, U.S, Nashville , Tennessee, Massachusetts, Washington ,, New York

☆ AI labs are fragmenting because of ego clashes and commercial pressures. It's about to drive a wave of new startups.
▼ + stars: | 2024-10-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

There is an impending wave of new startups spinning out of larger AI labs, per Air Street Capital's State of AI report. AI labs are fragmenting due to ego clashes, philosophical disagreements, and commercial pressures. But as AI labs work towards the sector's holy grail, known as artificial general intelligence, those personalities have clashed — sometimes leading to a very public parting of ways. They are just some of the examples in a long line of AI labs that have fractured away from their juggernaut predecessors to form new startups. The exception would be if AI labs pivot toward building a niche model within a specific vertical, he said.

Persons: —, Ilya Sutskever, Andreessen Horowitz, StabilityAI's, H's cofounders, Sam Altman, Noel Hurley, they're, Nathan Benaich, Samir Kumar, Kumar, Peter J, Liu, Hurley, Benaich Organizations: Service, Sequoia, Black, Labs, TechCrunch, Accel, UiPath, NEA, Founders, Air Street Capital, Literal Labs, Touring Capital, Meta, Google Locations: Capital's, Paris, Sutskever

☆ Trump PAC has raised about $7.5 million in crypto donations since early June
▼ + stars: | 2024-10-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Adam Gray | Afp | Getty ImagesA political action committee supporting former President Donald Trump has raised about $7.5 million in cryptocurrencies. The PAC said the latest filing covered donations in the period of July 1 through Sept. 30, but numbers included cumulative contributions. At least 18 donors gave more than $5.5 million in bitcoin to Trump 47, the filing shows. Trump said in his keynote that his campaign had raised $25 million from the crypto industry, though he didn't specify the split between digital tokens and dollar donations. Among the new donors is Chase Herro, one of the co-founders of the Trump family's new crypto project World Liberty Financial.

Persons: Eric Trump, Donald Trump, Donald Trump , Jr, Adam Gray, Andreessen Horowitz, Lockheed Martin, David Bailey, bitcoin . Bailey, indoctrinated Trump, Trump, Chase Herro, Mike Belshe, Brian Murray, Craft, David Sacks, Trevor Traina, Bruce Fenton, Gary Cardone, Stuart Alderoty, Alderoty, Sacks, Chris Larsen, Kamala Harris, Forward, Larsen, Gary Gensler, Biden, Marvin Ammori, Tyler, Cameron Winklevoss Organizations: Republican, World Trade, Afp, Getty, Trump, U.S, GOP, PAC, Public Citizen, Lockheed, Duthie Power Services, Esperanza Entertainment, BTC Inc, Liberty Financial, Craft Ventures, Kresus Labs, Chainstone, Cardone Digital Ventures, CNBC, White, SEC, Biden, Harris Locations: New York City, cryptocurrencies, Puerto Rico, bitcoin ., Nashville, bitcoin, XRP, San Francisco, Harris, Bay

☆ Cloud API startup Kong valued at around $2 billion in a new funding round led by Tiger Global
▼ + stars: | 2024-10-09 | by ( Ben Bergman | Sri Muppidi | ) www.businessinsider.com time to read: +2 min

The startup is valued at around $2 billion in a new funding round led by Tiger Global Management, sources say. AdvertisementKong, which offers cloud-based application programming interfaces, is valued at around $2 billion in a new funding round led by Tiger Global Management, according to two sources familiar with the matter. Tiger Global declined to comment. Kong last raised $80 million in Series D funding in 2020, which valued the startup at $1.4 billion. Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Andreessen Horowitz, and Notable Capital also participated in that round.

Persons: Kong, Tiger, —, Andreessen Horowitz, Goldman Sachs, Augusto, Aghi, Marietti, Marco Palladino Organizations: Kong, Tiger Global Management, Service, Tiger, Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Capital, PayPal, Nasdaq, Volvo

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