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☆ Y Combinator's latest class is a feeding frenzy for VCs looking to back AI startups: 'There's hysteria for a reason'
▼ + stars: | 2023-04-13 | by ( Stephanie Palazzolo | Madeline Renbarger | ) www.businessinsider.com time to read: +5 min

VCs are scrambling to back the AI startups in Y Combinator's latest batch. Several generative AI startups have already secured funding from top firms, sources say. And while valuations are down across the board, YC AI startups are still hot. Startups focused on AI, and generative AI specifically, which saw a substantial jump in the latest batch, were some of the most highly sought after by investors. An AI feeding frenzyVC buzz was common across generative AI startups both in the application and infrastructure layers.

☆ Exclusive: Buzzy legal generative AI startup Harvey taps Sequoia to lead funding round at a $150 million valuation
▼ + stars: | 2023-04-11 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

Legal generative AI startup Harvey has raised a funding round from Sequoia, Insider has learned. This funding round landed the startup a $150 million post-money valuation. Industry-specific generative AI startups have emerged in nearly every industry, from healthcare to gaming, to offer specialized services beyond the capabilities of general models like OpenAI's GPT-4. Legal generative AI startup Harvey has raised a Series A round of funding at a $150 million post-money valuation from Sequoia Capital, according to three people with knowledge of the financing who were not authorized to speak publicly. The relatively few customers makes Harvey's valuation seem rich in comparison, the source said, pointing to a broader trend of elevated valuations and round sizes in the hyped-up generative AI space.

☆ Sam Bankman-Fried pleads not guilty to new federal charges
▼ + stars: | 2023-03-30 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of fraud and conspiracy, including one count of conspiring to bribe Chinese government officials. An attorney for Bankman-Fried entered the plea on his behalf of his client, who was seated beside him in the New York courtroom Thursday. He previously pleaded not guilty to eight other charges stemming from what prosecutors have described as one of the biggest financial frauds in US history. In the latest indictment, prosecutors alleged that Bankman-Fried sought to pay off Chinese officials to unfreeze accounts belonging to his hedge fund, Alameda Research. Three of Bankman-Fried’s former business partners — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to numerous charges and are cooperating with investigators.

☆ AI is so hot that top-tier funds are fighting to back tiny seed-stage startup ElevenLabs at valuation of around $100 million, sources say
▼ + stars: | 2023-03-29 | by ( Riddhi Kanetkar | Callum Burroughs | ) www.businessinsider.com time to read: +4 min

A16z is among a raft of top-tier funds battling to invest in a tiny British AI startup, sources say. London-based ElevenLabs closed a $2 million pre-seed round two months ago but is set to raise again. The deal is testament to the hype that surrounds AI startups following the release of ChatGPT last year. Andreessen Horowitz is among a raft of top-tier investors fighting to lead a round into a tiny AI startup that will value it at around $100 million as investor hype around the technology intensifies, sources say. Now, the startup is set to raise new funds again, in part due to its rapid growth in revenue, three London-based investors said.

Last year VCs invested $19.8 billion into these property-technology, or proptech, startups. We surveyed venture capitalists to identify the hottest proptech companies right now. Climatetech and AI-powered tools are major themes of the proptech industry in 2023, just as they are in the wider venture world. Insider asked more than 20 venture investors who focus on real-estate and construction technology to nominate the most exciting proptech startups in 2023. Here are the 26 buzziest proptech companies right now, presented in alphabetical order.

☆ Sundance Movies: Brett Kavanaugh and Steph Curry Docs, "Cat Person"
▼ + stars: | 2023-02-06 | by ( Alison Brower | ) www.businessinsider.com time to read: +7 min

The Sundance Film Festival was back in person for the first time since 2020. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. Asked about the film's aspect ratio in an audience Q&A, Jalali said, "It was prettier that way." The bulk of the films I saw were more commercial, and four of them centered on relationships. And then there was "Cat Person," based on a 2017 New Yorker story about dating by Kristen Roupenian.

☆ What Were the Biggest Films at Sundance 2023?
▼ + stars: | 2023-01-31 | by ( Wsj Staff | ) www.wsj.com time to read: 1 min

“Eileen,” starring Anne Hathaway and adapted from the Ottessa Moshfegh novel of the same name, had one of the buzziest pre-festival press runs. Oscar-winner Ms. Hathaway plays a psychologist in mid-1960s New England.

☆ The Sundance Film Festival stirs buzz, draws A-list stars, and screens movies that get you talking, but it can't hide the crisis facing independent filmmakers.
▼ + stars: | 2023-01-29 | by ( Alison Brower | ) www.businessinsider.com time to read: +6 min

The Sundance Film Festival was back in person for the first time since 2020. A-list stars like Anne Hathaway and Jason Momoa were present to promote their buzzy films. It was impossible not to feel optimistic about the state of independent film at the opening weekend of the Sundance Film Festival. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. At an event like Sundance, even amid some hand-wringing over the future, the excitement is contagious.

☆ First-time homebuyers face a lose-lose scenario
▼ + stars: | 2023-01-29 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Our LA bureau chief Alison Brower has been at the Sundance Film Festival this week. Brooke Shields attends the 2023 Sundance Film Festival "Pretty Baby: Brooke Shields" Premiere at Eccles Center Theatre on January 20, 2023 in Park City, Utah. Amy Sussman/Getty ImagesIt was impossible not to feel optimistic about the state of independent film at the opening weekend of the 39th Sundance Film Festival in Park City, Insider's Alison Brower writes. The party scene was as lively as ever, anchored by HBO Documentary Films' annual shindig at Ruth's Chris Steak House. Many experts worry that without some type of major intervention, the obstacles facing first-time homebuyers will continue to get worse for years to come.

☆ How Kobe Bryant became one of the NBA's all-time greatest players and an almost mythical figure in the process
▼ + stars: | 2023-01-26 | by ( Scott Davis | ) www.businessinsider.com time to read: +8 min

Kobe Bryant died three years ago today, on January 26, 2020, leaving behind a legacy as an all-time great NBA player and sports icon. From the moment he entered the NBA, Bryant had a platform to become a transcendent star. An impressive resumeOver 20 years in the NBA, Bryant built one of the more impressive resumés. Like many legendary athletes, Bryant's career didn't end in grand fashion. The Lakers won 21 and 17 games in 2014-15 and 2015-16, Bryant's last season in the league.

The Sundance Film Festival has long been known for premiering some of the most original — and ultimately the most award-winning — indie titles of the year. As the most notable international film festivals increasingly feature queer titles in their lineups, it’s no surprise that much of the exciting content premiering at this year’s Sundance Film Festival comes from LGBTQ filmmakers or features queer themes. The Premieres sectionAs usual, many of the year’s most high-profile films, including those from queer creators and featuring queer storylines, are coming out of the festival’s Premieres section. Courtesy of Sundance InstituteEnglert’s film will screen in the world cinema dramatic section alongside queer films “Girl,” from U.K. filmmaker Adura Onashile, and “Mamacruz,” from Spanish director Patricia Ortega. The list of LGBTQ creators and titles doesn’t end there, making this perhaps the most significant Sundance Film Festival for queer cinema yet.

☆ Bill Gates is meh on Web 3 and the metaverse, but bullish on AI
▼ + stars: | 2023-01-12 | by ( Sarah Jackson | Huileng Tan | ) www.businessinsider.com time to read: +2 min

Bill Gates said artificial intelligence is "quite revolutionary" in his annual Reddit AMA session. Gates replied: "AI is the big one. I don't think Web3 was that big or that metaverse stuff alone was revolutionary but AI is quite revolutionary." Gates appeared particularly keen about generative AI — that is artificial intelligence that can create content — saying "I am quite impressed with the rate of improvement in these AIs. Gates was responding to a Reddit user who asked for his views on generative AI and how he thinks it will impact he world.

There were new twists on foldable devices, cars that changed colors and smart ovens that live streamed dinners. Patrick T. Fallon/AFP/Getty ImagesBMW unveiled a wild color-changing concept car with 260 e-panels that can change up to 32 colors. During a demo, different parts of the car, including the wheel covers, flashed in varying hues and swirls of colors. A new look for foldable phonesSamsung's Flex Hybrid Display concept folds and slides SamsungSome companies offered a new twist on the foldable phone concept. The lock, which will cost $300, will be available for purchase late this spring, according to a company press release.

☆ What Apple, Google and other Big Tech companies are paying, based on new salary transparency data
▼ + stars: | 2023-01-06 | by ( Jennifer Liu | ) www.cnbc.com time to read: +4 min

It just got a lot easier to see how much some of the biggest tech companies in the world pay, thanks to a rollout of new salary transparency laws across the country. As of Jan. 1, California and Washington joined New York City and Colorado in legally requiring employers to post salary ranges on their job ads. Data is based on job posts from over 700 of the top tech companies and startups, accounting for more than 53,000 active listings. As of this week, Comprehensive.io says 39% of tech companies are complying with California's new salary range law. In New York City, which rolled out its legislation on Nov. 1, 63% of tech companies are complying.

☆ The private-equity firm behind Italian soccer champs AC Milan is quietly building a financial services powerhouse
▼ + stars: | 2023-01-05 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +4 min

RedBird Capital is best known as the private-equity owner of soccer club AC Milan. But the sports dealmaker is quietly building a financial services arm to rival its flashier bets. RedBird Capital is one of the buzziest names in dealmaking when it comes to sports and Hollywood. In August, the New York City-based private equity firm bought soccer club AC Milan for $1.2 billion. The firm's philosophies for financial services and sports are one and the same: taking advantage of fragmented environments with firms that have long-term recurring cash flow.

☆ Coinbase reaches $100 million settlement with New York regulators
▼ + stars: | 2023-01-04 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

New York CNN —Coinbase, one of the most popular US crypto-trading platforms, agreed to a $100 million settlement after New York regulators found “significant failures” to comply with the state’s anti-money-laundering laws. The settlement includes a $50 million penalty Coinbase must pay to the New York Department of Financial Services and a pledge to spend $50 million to strengthen the company’t compliance program over the next two years. The regulator said it had installed an independent monitor to investigate, and that monitor will remain in place for at least another year as needed. Coinbase’s statement included reference to the so-called crypto winter — a chill that hit the industry in 2022, bringing down several companies, including Sam Bankman-Fried’s FTX. “We recognize that the crypto industry is at an inflection point right now and that every public move by a crypto company will receive intense scrutiny,” Grewal said.

☆ VCs give their unfiltered thoughts on 28 AI and big-data startups that had investors buzzing this year
▼ + stars: | 2022-11-29 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +2 min

It's become one of the loudest and most crowded spaces as niche startups score big investments. Insider spoke with VCs to get their unfiltered thoughts on which startups were worth watching. The goal was to come to a consensus from investors of which startups they're watching most closely and why in an explosive landscape with dozens of companies. The investors spoke on condition of anonymity so they could talk more candidly about the startups, both those in their portfolios and competing firms, and descriptions are based off insights from multiple investors. Here's what investors are saying about 28 of the buzziest machine-learning and big-data startups, listed from least to most capital raised:

☆ Elon Musk has waged war on Apple, claiming the tech giant "hates free speech"
▼ + stars: | 2022-11-29 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

From Elon Musk's war with Apple to the rise and fall of a pharmacy startup, it's a packed edition. Elon Musk is going to war with Apple. The world's wealthiest man slammed the world's biggest tech company, questioning if Apple "hates free speech" and suggesting that it's threatening Twitter's presence in the App Store. According to a book, Cook swore at Musk after he asked to be the CEO of Apple. According to career site Indeed, tech companies Intuit, Google, and Apple offer the most flexibility in terms of where and when employees are expected to work.

☆ The $113,000 Hummer EV is totally outrageous in every way — and that's what makes it such a good time
▼ + stars: | 2022-11-26 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

The GMC Hummer EV is ridiculously large, astonishingly quick, and excessive in every way. GM lent me a Hummer EV Edition 1, which retails for around $113,000. First, the basicsThe 2022 GMC Hummer EV Edition 1. The Hummer EV pickup launched in late 2021, and an SUV is on the way for 2023. What falls short: New Hummer, same problemsThe Hummer EV is wildly inefficient compared to its competitors, which is both unfortunate and on brand.

☆ I used Tesla's Autopilot for the first time and found it makes a long drive bearable — as long as you remember what it can't do
▼ + stars: | 2022-09-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +5 min

I tried Autopilot, Tesla's advanced driver-assistance system, in the Model Y SUV. Needless to say, I was eager to test out Autopilot for myself when reviewing a Tesla Model Y recently. The Tesla Model Y. Tim Levin/InsiderAutopilot performed impressively well over a couple of hours of driving on divided highways and some two-lane roads. The few times that another car merged in front of the Tesla, Autopilot responded well. The Tesla Model Y. Tim Levin/InsiderAutopilot handles highways admirably and could be a great asset on long, monotonous road trips.

☆ 'Atlanta,' 'P-Valley' and other shows giving Black South its due
▼ + stars: | 2022-09-18 | by ( Leah Asmelash | ) edition.cnn.com time to read: +9 min

And artists like Beyoncé and Megan Thee Stallion have incorporated Southern Black aesthetics into their fashion and music videos. “We’re now seeing some of the vividness and vibrancy that has always been a part of the South,” Durham said. But in these shows, the South and its characters refuse the bumpkin stereotypes and embrace all the aspects of the South. “There are whole ways in which we are having to reimagine Blackness in the South,” Durham said. “We’re actually invited to see what the experiences are of the people who produce the culture,” Durham said.

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