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Da Ponte denied a Bloomberg report that the payments processor paused development of its stablecoin in February. But da Ponte argues this troubled backdrop is exactly why PayPal is poised to succeed. Then there's the hypothetical digital dollar that would be the Fed's take on a central bank digital currency, or CBDC. "We have a large base of consumers; we have a large base of merchants," da Ponte said of PayPal's "two-sided network." Da Ponte sees PayPal's more than 20-year tenure in the payments space as one of the company's chief advantages in the stablecoin market.

Persons: Jose Fernandez da Ponte, PayPal's, Da Ponte, Paxos, it's, Ponte, stablecoins, Nic Carter, Stablecoins, Carter, Andy Bromberg, Andreessen Horowitz, Bromberg, PYUSD, Jeremy Allaire, Allaire, Patrick McHenry, McHenry Organizations: PayPal, CNBC, Bloomberg, SEC, New, Regulators, Valley Bank, U.S ., U.S, Castle, Ventures, Companies, Eco, Coinbase Ventures, Paypal, Facebook, Financial Services, America Locations: U.S, New York, Bromberg, web3, United States, R, DexTools

☆ PayPal bets on crypto's future with US-dollar-backed stablecoin PYUSD
▼ + stars: | 2023-08-07 | by ( Allison Morrow | ) edition.cnn.com time to read: +2 min

The stablecoin, PayPal USD, is fully backed by the US dollar and is “designed to reduce friction” for payments within virtual spaces and provide faster, cheaper transfers of money across borders. But PayPal is betting on a future in which digital currency is more mainstream and merchants may request payment in stablecoins to avoid credit card processing fees. In May 2022, the “algorithmic” stablecoin TerraUSD collapsed when the crypto token backing it, Luna, collapsed. The value of PayPal USD, or PYUSD, doesn’t rely on a complex algorithm the way Terra did. In other words: every PayPal USD should be worth $1.00, no matter what.

Persons: ”, Dan Schulman, Stablecoins, Stablecoins aren’t, TerraUSD, Luna, Kwon, Charles Cascarilla Organizations: New, New York CNN, PayPal, Securities, Exchange Commission, Paxos Trust Locations: New York, cryptocurrencies, Venmo, Terra

☆ PayPal launches first dollar-backed stablecoin from a major U.S. financial institution
▼ + stars: | 2023-08-07 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

PayPal on Monday launched a U.S. dollar-backed stablecoin to help facilitate payments as its latest addition to its suite of crypto services. The new asset, called PayPal USD (PYUSD), was designed to address the "emerging potential" to "transform payments in web3 and digitally native environments." PayPal said the stablecoin's function is to reduce friction for in-experience payments in virtual settings and allowing direct flows to developers. PayPal USD is issued by Paxos, which also previously issued the dollar-pegged, Binance-branded stablecoin BUSD. Paxos was ordered by the New York State Department of Financial Services in February to stop issuing BUSD, which marked the beginning of this year's decline in the stablecoin market cap.

Persons: Dan Schulman, Paxos, they're Organizations: PayPal, Monday, U.S ., Paxos, New York State Department of Financial Services Locations: U.S, web3

☆ Inside Prague's Institute of Crypto Anarchy — where they're plotting to bring down the dollar
▼ + stars: | 2023-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +19 min

Today, that union of minds finds refuge in Prague in a retrofitted factory building called Paralelní Polis, or "parallel world." The dark stucco of Polis' Prague headquarters is an outlier among the ornate, brightly-colored buildings that tower over it. ETHPrague 2023 was held at Paralelní Polis in the Czech Republic Pavel SinaglThe 'parallel world' concept is sticky. The Vienna branch goes so far as to self-describe as a living example of how "the Paralelní Polis cryptoliberation virus is spreading." The most popular Czech bitcoin YouTuber boasts 90k subscribers, while the annual Czech-only bitcoin conference called Chaincamp attracts around 2000 visitors, even during the bear market."

Persons: Czech Republic Pavel Sinagl, Ztohoven —, Ztohoven, provocateurs, Václav Benda, Dan Ligocký, Ligocký, William Lobkowicz, ethereum, Vitalik Buterin, Ethereum, Pavel Sinagl, Prague MacKenzie Sigalos, Holy, William, Ileana Lobkowicz, Josef Tětek, Tětek, isn't, biohacking, —, Carl Menger, Friedrich Hayek, BTCPrague, Michael Saylor, Satoshi cryptographer, Adam Back, Saifedean Ammous, bitcoin, Gary Gensler, bitcoin maximalist, Vaclav, — Matěj Žák, Jan Čapek, Christoph Kassas, YouTuber Jakub Vejmola, Jameson Lopp, Stephan Livera, Robert Breedlove, Stani Kulechov, Ondrej Polak, Czech Republic Pavel Sinagl Ligocky Organizations: Paralelní, CNBC, European Union, Polis, of Cryptoanarchy, Austrian, Securities, Exchange, Czech Craft, U.S, Treasury, Casa, Ethereum Foundation, Czech Blockchain Association, optimist Locations: Paralelní Polis, Czech Republic, Czech Republic Pavel Sinagl PRAGUE, Czech, Bohemian, Prague, It's, Polis, Polis —, Lobkowicz, Nazi, Vienna, Barcelona, Bratislava, Slovakia, Košice, Austrian, ., Alza, Bohemia, Europe, Old Town, Holešovice

☆ From banking giants to lending up-and-comers — here are the world's top 200 fintech companies
▼ + stars: | 2023-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +11 min

Statista identified 40 firms as top digital payments companies. While digital payments is often the area that draws most investor buzz, lending generates more money in financial services. Statista identified 25 fintech companies that fall into the category of top alternate lending firms. They include American small business lending firm Biz2Credit, Irish e-commerce lending company Wayflyer, and Latvian loan refinancing startup Mintos. Digital business solutions

Persons: Monzo, there's, Statista, Afterpay, It's, Binance, eToro, Equity crowdfunding, hasn't, Peter Hazlehurst Organizations: JPMorgan —, Orange, Digital, U.S, SEC, European, Education, Equity, Republic, Tech, Federal Reserve, Bank of England, CNBC, Solaris Locations: fintech, Europe, Nigeria, Orange, Africa, Terra, U.S, Cayman Islands, American, Latvian, U.K

Worldcoin says 2.2 million have signed up, mostly during a trial period over the last two years. Worldcoin raised $115 million from venture capital investors including Blockchain Capital, a16z crypto, Bain Capital Crypto and Distributed Global in a funding round in May. Macieira said Worldcoin would continue rolling out operations in Europe, Latin America, Africa and "all the parts of the world that will accept us." "The idea is that as we build this infrastructure and that we allow other third parties to use the technology." Michael Will, president of the Bavarian regulator, said it would look into whether Worldcoin's system is "safe and stable".

Persons: Medha Singh, Sam Altman, Worldcoin, Ricardo Macieira, Macieira, Michael Will, Will, Rainer Rehak, Web3, Nette Noestlinger, Matthias Baehr, Elizabeth Howcroft, Tomasz Janowski Organizations: WorldCoin, REUTERS, Reuters, Co, Humanity, Blockchain, Bain Capital Crypto, Companies, Bavarian State Office, Data Protection, Union, Weizenbaum Institute, Worldcoin Foundation, Thomson Locations: Bengaluru, India, Britain, France, Germany, Europe, San Francisco, Berlin, Latin America, Africa, Japan, Bavarian, blockchain, Cayman Islands

☆ 'It's a little frightening': Worldcoin surged 111% on its opening day. 2 experts explain why they would never scan their eyes in exchange for the crypto, and why they think the hype will fade.
▼ + stars: | 2023-08-01 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

On opening day, the WLD token surged from $1.70 to $3.58, up by about 110.6%, according to CoinMarketCap data compiled by Bloomberg. Isaac Patka, a former electrical engineer in the semiconductor industry turned crypto developer in 2017, believes the hype will soon fade. People could be exploited by signing up to get their irises scanned and then sell their accounts for a little bit of money in exchange for giving up their identity, Patka added. Now, what I mean by that is, if you're using a blockchain, it gets written to the blockchain," Arone said. You also run the risk of changes to the system, Arone added.

Persons: Isaac Patka, Geoffrey Arone, Sam Altman, aren't, it's, Patka, Worldcoin, Shield3, Arone, there's Organizations: Bloomberg, Arrington Capital, Experian, Clear

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance launches new Japanese subsidiaryCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. A federal judge rules that some crypto assets are securities, and Binance launches a new service in Japan as the country looks to expand web3 policies.

Persons: explainers Organizations: CNBC, Binance Locations: Japan

☆ 30-year-old increased her salary by over $100K in 2 years using this simple job search strategy
▼ + stars: | 2023-07-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

That conversation alone was enough motivation for Doe to start taking the job search more seriously, and re-think her approach to salary negotiation. Here's how she did it:A 'life-changing' job search hackBefore she applied to other marketing manager and director-level roles, Doe researched salaries for different marketing positions using a free, crowdsourced database published online by #HireBlack, a job search platform that offers career resources for Black women. Armed with research, Doe came up with a target salary range to guide her job search. She used the same market research and negotiation tactics she learned during her initial job search to land a $15,000 pay increase before accepting the role, which she started in March. (She doesn't want to publish her exact salary in case it's used against her in future negotiations.)

Persons: Brianna Doe, Doe, Phoenix . Doe Organizations: CNBC, LinkedIn Locations: Phoenix, Phoenix .

☆ Activewear and luxury brands are pushing ahead with Web3 innovation, while other marketers are still on the sidelines
▼ + stars: | 2023-07-27 | by ( Julia Hood | ) www.businessinsider.com time to read: +6 min

Many CMOs are not prioritizing Web3 right now thanks to the crypto crisis hangover, and inflation. However, some activewear and luxury brands are leveraging NFTs and the metaverse in ways other marketers can learn from. The crisis sapped the forward momentum of the emerging Web3 marketing landscape, where business leaders were eager to figure out how Bored Ape NFTs could translate to new channels to reach consumers. New tech for tech's sake is out of fashion; Web3 providers need to speak to the business problems that CMOs and their brands are facing. Moorut says that activewear and some luxury brands are among the most advanced with Web3.

Persons: Byron Sorrells, what's, Sorrells, Marija Zivanovic, Smith, Matt Moorut, Moorut, they're, Nike It's, Web3 activations, Ledger, Marie Laffont, they've Organizations: Dispatch, IEX Group, Apple, Gartner, Web3, Nike, Adidas, Lacoste

☆ Google's top AI researchers, including all the authors behind a landmark paper, have left for competitors. Here's where they are now.
▼ + stars: | 2023-07-13 | by ( Thomas Maxwell | Hugh Langley | ) www.businessinsider.com time to read: +13 min

Top AI researchers have been leaving for startups where their work can have more impact. That frustration over Google's slow movement has been corroborated by other former Google researchers who spoke to Insider. Niki Parmar left Google Brain after five years to serve as a cofounder and CTO of Adept, though in November, she left to found a stealth startup. Lukasz Kaiser left Google Brain after working there for more than seven years to join OpenAI in 2021. Sharan Narang, another contributor to the T5 paper, left Google Brain in 2022 after four years there.

Persons: it's, Llion Jones, OpenAI's, ChatGPT, Sundar Pichai, Bard, Daniel De Freitas, Noam Shazeer, Ilya Sutskever, Sutskever, OpenAI, Ashish Vaswani, Niki Parmar, Jakob Uszkoreit, Aidan Gomez, Nick Frosst, Lukasz Kaiser, Kaiser, Illia Polosukhin, Meena, De Freitas, Romal Thoppilan, Character.AI, LaMDA, Elon Musk, Character.ai, Winni Wintermeyer, Thoppilan, Alicia Jin, BERT BERT, BERT, Jacob Devlin, Colin Raffel, Raffel, Sharan Narang, He's, Azalia Mirhoseini, Anna Goldie, Mirhoseini, Goldie, Claude, DeepMind Mustafa Suleyman, Mustafa Suleyman, DeepMind, Suleyman, Reid Hoffman Organizations: Google, Bloomberg, New York Times, Microsoft, Street Journal, Neural Networks, OpenAI, YouTube, Elon, UNC Chapel Hill, Meta, Anthropic, Society Locations: ChatGPT, Character.AI, DeepMind

☆ 18 pitch decks that helped media and tech startups nab millions in funding to disrupt entertainment
▼ + stars: | 2023-06-30 | by ( Lucia Moses | ) www.businessinsider.com time to read: +2 min

Tech is disrupting all areas of media and entertainment, and investors are rushing to cash in. Startups are attracting millions in investments to change how content is made, distributed, and more. Here are 18 pitch decks that startups used to fundraise for Seed and Series A rounds and beyond. New startups are raising capital to jump on audiences' shift to streaming, change hidebound production practices, and more. Insider talked with founders about the pitches they used to raise millions and innovate in content creation and distribution.

Persons: Isabel Rafferty, Mila Kunis, John Attanasio Organizations: Morning, Canela, Latina

Artificial intelligence algorithms are increasingly being used in financial services — but they come with some serious risks around discrimination. And the problem of amplifying existing biases can be even more severe when it comes to banking and financial services. As for financial services, Manji said a lot of the backend data systems are fragmented in different languages and formats. "Individuals have little knowledge of how AI systems work and that their individual case may, in fact, be the tip of a systems-wide iceberg. Among the top worries industry insiders expressed are misinformation; racial and gender bias embedded in AI algorithms; and "hallucinations" generated by ChatGPT-like tools.

Persons: Nabil Manji, Manji, they've, we're, You've, Banks, Banking's, Rumman Chowdhury, Twitter's, Chowdhury, Angle Bush, Bush, Frost Li, Li, Niklas Guske, Guske, it's, Goldman Sachs, Kim Smouter, Smouter, ethicists Organizations: Photodisc, Getty, Deloitte, CNBC, Microsoft, Google, Black, Artificial Intelligence, Tokyo University, Apple, New York Department of Financial Services, European Network, United Nations Locations: AMSTERDAM, Worldpay, Amsterdam, Chicago, Loup, United

☆ Exclusive: How this under-the-radar VC landed a $27 million third fund and bets in some of the buzziest startups like Jasper and Motherduck
▼ + stars: | 2023-06-21 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +5 min

Essence VC has raised its third fund of $27 million from LPs like Cendana and Sapphire Ventures. The fund has bet on buzzy startups like generative AI darling Jasper and a16z-backed Motherduck. And now, his firm Essence VC has just raised its $27 million third fund. The latest fund, backed by VC firms and funds of funds including Cendana Capital, Vintage Investment Partners, Sapphire Ventures, Level Ventures, and Crossover, follows a $7 million and $1 million fund. However, the "first-mover advantage" for startups also holds true in the land of VC, Chen says.

Persons: Jasper, Tim Chen, you've, Liz O'Sullivan, Vera, Chen, Scott Shi, —, Chi Zhang, Tim, Zhang, funder Chen, Christos Kozyrakis, Michael Huang, They're, it's, Ben Van Roo, Van Roo, Chen wasn't Organizations: Sapphire Ventures, Cendana, Vintage Investment Partners, Level Ventures, Founders, Stanford, Cloudera, Google Locations: a16z

☆ Investors have piled into AI startups following the launch of ChatGPT. Here are 20 pitch decks used by Europe's AI founders to win over VCs.
▼ + stars: | 2023-06-16 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

AI startups raised $60 billion last year and investors have continued to pile in on the tech in 2023. Below are 20 pitch decks used by European startups deploying AI in everything from health to property. V7Generative AI, media, and designThis startup uses generative AI to speed up the property-buying process. This AI startup helps Big Tech firms compress videos while maintaining quality. This AI startup helps firms like TrueLayer and CurrencyCloud meet their revenue targets.

Persons: Sam Altman, Elon Musk, Andreessen Horowitz, Nat Friedman, Alberto Rizzoli, Simon Edwardsson, Iris Organizations: Morning, Investment, Venture, Insight Partners, Ventures, Google, Creative Fabrica, Big Tech, Health, Microsoft, Enterprise, Ikea, Twitter, CurrencyCloud Locations: Temasek

☆ SoftBank-backed startup Improbable outlines plan for metaverse to rival Microsoft, Meta
▼ + stars: | 2023-06-16 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

MSquared, which is a separate business entity from Improbable, raised $150 million from investors last year. "The purpose of the metaverse is to enable new interactive entertainment experiences," Herman Narula, Improbable's co-founder and CEO, told CNBC. Entities will be able to build metaverse experiences using Improbable's Morpheus technology, which is designed to host mass-scale multiplayer online games, Improbable said. What Improbable is buildingImprobable said there will be four categories of participants that take part in MSquared: metaverse owners, content creators, service providers and users. WATCH: SoftBank-backed startup Improbable launches MSquared metaverse

Persons: Herman Narula, Improbable's, Narula Organizations: Meta, Microsoft, Google, Nvidia, Netflix, Developers, CNBC, Yuga Locations: Lisbon, British, MSquared

☆ Andreessen Horowitz to open first office outside the U.S. in London in bet UK will become crypto hub
▼ + stars: | 2023-06-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

LONDON — Andreessen Horowitz is opening its first office outside of the U.S. in London, the venture capital firm announced Monday. Sriram Krishnan, an ex-Twitter employee who joined Andreessen Horowitz as a general partner, will relocate to London to head up the firm's office there, Quintenz said. Andreessen Horowitz also plans to launch its first crypto startup school in the U.K. in a bid to identify future talent in the crypto and Web3 space. Andreessen Horowitz has been one of the most active investors in crypto and Web3, backing startups ranging from the crypto-based sports collectibles trading game Dapper Labs to nonfungible token marketplace OpenSea. Andreessen Horowitz was not an investor, but several rival firms, including Sequoia, were.

Persons: Coinbase, Andreessen Horowitz, Brian Quintenz, Sriram Krishnan, Quintenz, ‘ Organizations: U.S, U.S . Securities, Exchange Commission, SEC, CNBC, Twitter Locations: Silicon, Airbnb, Coinbase, London, U.S, United States, FTX, Sequoia

☆ Venture capital giant Andreessen Horowitz to open first office outside of the US in London as it bets on the UK to become leader in crypto regulation
▼ + stars: | 2023-06-12 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Venture capital giant Andreessen Horowitz is set to open its first office outside of the US in London. The Silicon Valley giant is betting on the UK to become a leader in crypto regulation. Venture capital giant Andreessen Horowitz is set to open its first office outside of the US in London as it bets on the British government to become a leader in crypto regulation. Meanwhile, venture capital funding to crypto companies has collapsed over the past year. Andreessen general partner Chris Dixon said that crypto was still in its "early innings" and that technology takes "decades to develop," in a blog post announcing the London office.

Persons: Andreessen Horowitz, Chris Dixon, Sriram Krishnan, Binance, Rishi Sunak, Dixon, Sunak, there's Organizations: Venture, Twitter, Facebook, Securities and Exchange Commission, SEC, School from, Catalyst, Bessemer, Lightspeed Venture Partners Locations: London, Europe, School from London, Silicon, Sequoia

☆ Andreessen Horowitz to open its first international office in London
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: +1 min

June 11 (Reuters) - U.S. venture capital firm Andreessen Horowitz, a major cryptocurrency investor, said on Sunday it will set up its first international office in London, at a time when U.S. regulators have increased scrutiny of the cryptocurrency sector. The London office, set to open later this year, will work with universities in the UK and support the development of blockchain technologies and startups, the company said in a statement, adding that it will be led by one of the firm's general partners, Sriram Krishnan. The decision follows talks with British Prime Minister Rishi Sunak and other authorities for months, Dixon said. Sunak said in the statement he is "determined to unlock opportunities" for blockchain technology and "turn the UK into the world’s Web3 centre". Reporting by Rishabh Jaiswal and Jahnavi Nidumolu in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Andreessen Horowitz, Sriram Krishnan, Andreessen, We're, Chris Dixon, Andreessen's, Rishi Sunak, Dixon, Sunak, Rishabh Jaiswal, Muralikumar Organizations: U.S . Securities, Exchange Commission, SEC, British, Thomson Locations: London, Bengaluru

NEW YORK, June 8 (Reuters) - Cryptocurrency operator Circle Internet Financial said on Thursday it has hired Heath Tarbert, former chair of the Commodity Futures Trading Commission, as the its chief legal officer and head of corporate affairs, effective July 1. Tarbert, a former corporate attorney and senior Treasury Department official, more recently worked for electronic trading firm Citadel Securities. Boston-based Circle, the issuer of stablecoin USDC, in December decided to end a $9 billion deal to merge with blank-check firm Concord Acquisition Corp . "As we continue building a bridge between traditional finance and Web3, Heath's perspective, legal acumen and global regulatory experience will help us advance the utility value of USDC worldwide," Jeremy Allaire, chief executive officer of Circle, said in a statement. Reporting by John McCrank; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Heath Tarbert, Tarbert, Jeremy Allaire, John McCrank, Chizu Organizations: YORK, Futures Trading Commission, CFTC, Securities and Exchange Commission, Treasury Department, Citadel Securities ., Concord, Corp, Thomson Locations: U.S, Citadel Securities . Boston

☆ I'm a small-business owner in the blockchain industry. I relied on 3 tactics to lead my company through a 'crypto winter' and other volatility.
▼ + stars: | 2023-06-07 | by ( Erin Greenawald | ) www.businessinsider.com time to read: +7 min

With a few strategic moves, the cofounder was able to grow the company during industry uncertainty. During times of "feast," we learned to become agile and adaptable, quickly capitalizing on opportunities for growth and expansion. While we originally sought to work with enterprises, "crypto winter" was taking a huge toll on the industry and we were no exception. For example, during the latest downturn, we spent time building up our accelerator program, Web3 Launchkit, which helps founders learn all the pieces to launch a successful crypto company. Some people were happy to forgo regular cash to receive compensation in a combo of crypto and equity, for example.

Persons: —, Altif Brown, Filecoin, Dor, Web3, we've, We've Organizations: Constellation, Service, Constellation Network, US Department of Defense, Enterprises

☆ Meet 14 rising-star crypto venture capitalists, according to other VCs
▼ + stars: | 2023-05-22 | by ( April Joyner | ) www.businessinsider.com time to read: +1 min

Insider asked VCs to nominate the investors they consider to be rising stars in crypto. Our 14 honorees told us how they see the crypto industry evolving after a turbulent year. It's no secret: The crypto industry has had a brutal 12 months. Insider asked established investors throughout the crypto industry — including honorees from last year's list of rising-star crypto VCs — who they believe best fit the bill. Read on to see this year's rising-star venture capitalists in crypto, listed alphabetically by last name, as well as the types of companies they're seeking to back.

☆ The metaverse isn't dead, says the billionaire CEO behind Fortnite— and he's jokingly trying to hold a wake so 600 million gamers can mourn its passing in 'real-time 3D'
▼ + stars: | 2023-05-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Tim Sweeney on Tuesday mocked the notion that the metaverse is dead. But Sweeney is a long-term supporter of the Metaverse, putting in some serious money into the platform. Tim Sweeney, the billionaire CEO of Epic Games, doesn't think the metaverse is dead. After all, Epic Games — developer of Fortnite — is putting serious money into the metaverse. Moreover, Meta's still trying to convince users that the metaverse is alive and kicking and could potentially be lucrative.

☆ After ChatGPT, AI startups are poised to boom. See 16 pitch decks used by founders in generative AI, health, and enterprise.
▼ + stars: | 2023-05-09 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

See 16 pitch decks used by AI founders using the tech in everything from health to fintech. V7Generative AI, media, and designSupernormal, a generative AI startup that automates meeting notes, just raised $10 million. This AI startup helps Big Tech firms compress videos while maintaining quality. These 3 founders are using AI to analyze patients' biological profiles and recommend drugs. This AI startup helps firms like TrueLayer and CurrencyCloud meet their revenue targets.

☆ The Metaverse, Zuckerber's Tech Obession, Is Officially Dead. ChatGPT Killed It.
▼ + stars: | 2023-05-08 | by ( Ed Zitron | ) www.businessinsider.com time to read: +11 min

The Metaverse, the once-buzzy technology that promised to allow users to hang out awkwardly in a disorientating video-game-like world, has died after being abandoned by the business world. After a much-heralded debut, the Metaverse became the obsession of the tech world and a quick hack to win over Wall Street investors. Once the tech industry turned to a new, more promising trend — generative AI — the fate of the Metaverse was sealed. But the short life and ignominious death of the Metaverse offers a glaring indictment of the tech industry that birthed it. Roblox, an online game platform that has existed since 2004, rode the Metaverse hype wave to an initial public offering and a $41 billion valuation.

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