Is 2024 going to be the year investors change their minds about Google?For the last 12 months, most of them have preferred Meta Platforms, Amazon and Microsoft—although Google’s stock growth did outpace the market.Part of what drove that preference was the view among leading Silicon Valley investors, notably Altimeter Capital’s Brad Gerstner, that Google’s best days of monopoly profits are behind it. OpenAI, Anthropic and others are building new ways... Read more ›
0
Fintech startups, the technology services trying to disrupt the antiquated financial services industry, raised over $100 billion in venture capital funding in 2021, a record for the sector, according to PitchBook. That party is long over. And now many of the venture capitalists that led those deals are also moving on.Vetamer Capital Management, an investment firm that focused on fintech, is shutting down its hedge fund, Cory reported this week.... Read more ›
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Instagram staffers were caught off guard this week by a round of job cuts that effectively eliminated a layer of management at Instagram, in line with Meta CEO Mark Zuckerberg’s “efficiency” drive. The cuts reportedly affected about 60 technical program managers—of thousands of Instagram employees—who have two months to try to find another job at the company.Staff Wednesday also learned about a reorganization of Instagram product teams. As part of... Read more ›
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HongShan, a prominent Chinese venture capital firm that recently separated from Sequoia Capital, has invested in a startup that competes with U.S. artificial intelligence chip giant Nvidia in the Chinese market, according to three people with knowledge of the matter. It’s the latest of several investments HongShan has made in domestic AI chip startups. HongShan’s previously unreported investment in Shanghai-based Iluvatar CoreX, which investors earlier valued at more than $1... Read more ›
0
After a two-month delay, OpenAI’s long-awaited chatbot store is finally here.As I previously reported would happen, the model developer on Wednesday opened its GPT app store, which allows software developers to distribute customized OpenAI-powered apps for everything from lesson planning for middle school teachers to researching academic papers to practicing new languages.Because the apps are powered by ChatGPT, they can understand users’ commands and questions in a conversational way and... Read more ›
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It’s a paradox: Cyberattacks against governments, companies and individuals are escalating dramatically, lifting cybersecurity spending to a record. And yet there are so many cybersecurity startups competing with each other—and with bigger tech companies such as Microsoft and Palo Alto Networks—that a shakeout in the sector is seen as inevitable. At the very least, some startups will have to accept a big cut to their valuation if they want to... Read more ›
0
Freyr Battery, struggling to manufacture its next-generation battery, hopes to right itself by temporarily producing and selling a different battery technology, and obtaining federal subsidies under the Inflation Reduction Act to make it in Georgia. But election-year politics cloud the plan’s future, with Republican front-runner Donald Trump and other party members vowing to kill or severely undermine the IRA if they come to power. Read more ›
0
This time it’s for real! After at least a six-year wait—and a hoax post on X Tuesday—the Securities and Exchange Commission on Wednesday granted approval for companies to issue spot bitcoin exchange-traded funds. The approval will make it easier for individuals and institutional investors to invest in bitcoin without holding it directly on a crypto exchange.Judging by the reaction of the crypto market, investors weren’t exactly surprised. Bitcoin’s price rose... Read more ›
5
When most people think about the creator economy, they aren’t thinking about hardware. Yet creators are heavy users of cameras and other video production gear. That may explain why webcam maker Opal Camera has gained a following among creators and managed to raise money during last quarter’s funding drought.In October, the three-year-old company announced a $17 million Series A led by Founders Fund and including investments from YouTubers Casey Neistat... Read more ›
0
In a blog post last year, Greylock partner Seth Rosenberg surmised that there are three large opportunities for founders in the artificial intelligence era, including “copilot for services.” Services are an attractive category, Rosenberg reasoned, because AI can help frontline service professionals—such as wealth managers, insurance brokers and mortgage brokers—more efficiently build and maintain relationships with their clients. As an entrepreneur, I share Rosenberg’s view that the market for services... Read more ›
3
It won’t surprise anyone that artificial intelligence, the hottest subject in tech, is also big at this year’s Consumer Electronics Show, underway in Las Vegas. Among the silly and wondrous AI-powered devices unveiled so far: A one-foot-tall robot from LG that can patrol your home for open windows or switch off the lights when you’re out; a telephone-booth-esque device that enables you to speak to a holograph of the person... Read more ›
0
Amazon is laying off several hundred employees in its Prime Video and Amazon MGM Studios, according to an email sent to employees on Wednesday morning viewed by The Information. It’s the latest example of fresh rounds of targeted job cuts at Amazon following mass layoffs that began in Nov. 2022. Amazon video chief Mike Hopkins said in the email that Amazon has “identified opportunities to reduce or discontinue investments in... Read more ›
5
JPMorgan Chase has stopped providing payments services for many long-standing clients of WePay, the payments processing business for small accounting and marketing businesses it acquired in 2017, suggesting a retreat in the bank’s efforts to compete with Stripe. JPMorgan had bought WePay, a Silicon Valley–based firm, to try to bolster its existing payments business—mostly reliant on long-established giant companies such as UPS—with some of the younger online enterprises that use... Read more ›
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Marc Andreessen oversees 10 tech CEOs on the corporate boards he sits on. Andreessen, a self-proclaimed techno-optimist who often likes to stick it to the tech press when he finds its coverage unfair, probably doesn’t mind that several of those CEOS are lightning rods for controversy. There’s Mark Zuckerberg at Meta Platforms, Brian Armstrong at Coinbase and, of course, Adam Neumann with his post-WeWork attempt at salvation, Flow. Then there’s... Read more ›
7
The Gen Z-favorite cosmetics brand Kosas has hired bankers to explore a potential sale, according to two people familiar with the matter, signaling that a recent wave of beauty startup sales is likely to keep gaining steam. Dealmaking among beauty companies has remained relatively resilient even as mergers and acquisitions have slumped broadly, with big beauty conglomerates like Shiseido and Unilever snapping up trendy young brands that have gained avid... Read more ›
0
As we’ve expanded our efforts to track the creator economy globally, we’ve been looking more closely at where startups and venture dollars have gone. A new analysis of our Creator Economy Database, which now tracks 525 startups, shows that while the Los Angeles area is home to the most startups globally, those in the San Francisco Bay Area have drawn in the most investor dollars. Here’s what else we found: Read more ›
0
Relativity Space, which earlier this year launched into space the first rocket made with 3D printing, is in talks to raise money in a round that values the company at around $4.2 billion, flat with its last funding round in 2021, according to people with direct knowledge of the matter. Existing investors Bond Cap and Social Capital are among the firms leading the round, the people said. It could not... Read more ›
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Two days before Christmas, Founders Fund general partner Keith Rabois boarded a flight to Park City, Utah, to have dinner with Vinod Khosla, the founder of venture capital firm Khosla Ventures and an early backer of OpenAI. By the end of the evening, the pair had agreed that Rabois would join Khosla Ventures as a managing director, its most senior position, this month. He will leave his post at a... Read more ›
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To celebrate turning 10, The Information is making a video featuring our subscribers and what they have learned from us over the years. If you would like to participate, please film yourself answering one or more of the following questions. Aim for 30 to 60 seconds, filmed horizontally, and uploaded as an mp4. You can use your phone — no fancy equipment needed. What do you value about The Information?... Read more ›
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No company has been better positioned to profit from the generative AI boom than Nvidia, the maker of graphics processing units. But a host of rival startups developing similar chips or the software to run those chips are trying to capture some of the revenue currently being spent on GPUs. We wrote about eight of these companies in August, but like everything else in AI, the field is moving quickly.... Read more ›
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28.11.2024 15:27
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