In recent years, the tech industry has seen exponential growth and transformation, with companies disrupting traditional business models and ushering in an era of hyperinnovation. This remarkable evolution has triggered an increased focus on regulation across the U.S. and EU. Jessica Lessin, founder and CEO of The Information, explored the path forward with three industry experts at the 2023 WTF Summit: Michele Anderson, partner, Latham & Watkins; former SEC Corp.... Read more âș
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As workers return to the office part-time, many are finding a new co-worker in the mix: generative artificial intelligence. Jessica Lessin, founder and CEO of The Information, explored the symbiotic relationship between generative AI and hybrid work at The Informationâs 2023 WTF Summit with three experts: Rosie Sargeant, project leader, Boston Consulting Group Lyra Schramm, vice president, people strategy and innovation, Google Dr. Rebecca Hinds, head of The Work Innovation... Read more âș
3
OpenSea CEO Devin Finzer announced last week, in what seemed to be a post-Sam Bankman-Fried trial Friday afternoon news dump, that the NFT marketplace was laying off 50% of its staff and pivoting to âOpenSea 2.0.â Halfway through this new week and OpenSea is still the biggest news on the crypto beat.My colleague Kate scooped yesterday that Coatue Management, which co-led a $300 million investment into the startup in January... Read more âș
2
Juliet de Baubigny is ready for what she calls âact threeâ of her career. After more than 20 years spent developing deep ties with founders across Silicon Valley and Europe, first at Kleiner Perkins and then as a co-founder of Bond Capital, the venture capital veteran is joining BDT & MSD Partners to ramp up its presence in the tech sector. De Baubigny will join the firm as a partner... Read more âș
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Amazonâs mostly male executives apparently arenât among the large group of men who supposedly spend much of the day thinking about the ancient Roman Empire. Instead, the folks at Amazon Web Services have been more focused on Greek mythologyâat least when it comes to the naming conventions of their AI models.After its first batch of models, called Titan, got off to a rough start, Amazon is developing a new model,... Read more âș
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The stock market has recovered somewhat after taking a battering last year. But this rebound masks how software buyers have shifted their purchasing priorities, slashing vendor revenue growth rates in the process. No longer do best-of-breed programs dominate; now itâs all about best-for-budget. Vendr, which tracks software spending, says net new purchases have fallen to 19% of sales this year, from 30% last year. So whatâs a startup to do?... Read more âș
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It seemed like a surefire way to juice investor demand in a tough market: Instacart lined up a group of existing and new investors, ranging from Sequoia Capital to Norwayâs sovereign wealth fund, to buy up to $400 million, or 60% of the stock it planned to sell in its September initial public offering. In the days leading up to the IPO, bankers working on it told investors they had... Read more âș
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Uber is finally on the right road. That could be Uber CEO Dara Khosrowshahiâs motto today, as the ride-hailing and food-delivery conglomerate demonstrates that its cash-printing press is revving up. After producing a small amount of cash last year, Uberâs free cash flow more than doubled in the third quarter to $905 million, while for the year to date it has generated $2.6 billion. Wowee.Sure, thatâs not exactly a fat... Read more âș
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As funding for creator economy startups has dried up, some companies are turning to unconventional means to raise money. In March, the newsletter platform Substack raised $7.8 million in what it called a âcommunity round,â inviting its writers to invest in the company. Now, more startups are following in its footsteps.On Tuesday, Gigmor, which connects independent musicians with event bookers and fans, opened its crowdfunded round to the public. The... Read more âș
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Zeus Living, a property management startup that raised $150 million from tech investors, is âwinding down operations,â the firm told landlords this week. The shutdown is the latest blow to a real estate tech sector struggling because of rising interest rates. Zeus leased homes and apartments, furnished them and then sublet them to corporate workers looking for extended stays in about a dozen U.S. cities through its own site and... Read more âș
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One of OpenSeaâs biggest investors has marked down by 90% its stake in the struggling non-fungible-token marketplace, implying that the former crypto darling is now valued at $1.4 billion or less on paper. Coatue Management, a New Yorkâbased hedge and venture fund, slashed the value of its $120 million stake in the company to $13 million as of the second quarter of this year, according to a document viewed by... Read more âș
0
Major Chinese venture capital firms are quietly investing in American artificial intelligence startups, undeterred by growing concerns from U.S. officials about Chinese involvement in local technology firms. For example, Sequoia Capital China, the biggest VC firm by assets in mainland China, recently invested in UTA, or Universal Travel Assistant, a California-based stealth startup thatâs developing an AI chatbot to help people plan and book trips, according to two people with... Read more âș
9
Shein has hired TikTok owner ByteDanceâs top U.S. logistics executive, Wei âAndyâ Huang, to lead its fulfillment and logistics operations. The hiring is a big win for the China-founded fast-fashion giant as it tries to edge out TikTok in the online shopping arena. The hiring is also a sign of Sheinâs ambitions to compete directly with U.S. e-commerce giants like Amazon by beefing up distribution operations in the U.S. and... Read more âș
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Despite Elon Muskâs attempts to steal the spotlight, the AI community gave its undivided attention on Monday to OpenAIâs first-ever live event for developers and the press. The large-language model developer didnât announce any mind-blowing research breakthroughs, but several of its product improvements undoubtedly will hurt some smaller, high-profile startups and light a fire under bigger competitors such as Anthropic and Meta Platforms. OpenAI also cut prices and said it... Read more âș
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Trucking startup Convoy abruptly shut down last month, while freight forwarder Flexportâs revenue has cratered. Other supply chain unicorns are now trying to prove they will have a different fate. Previously unreported financial data for three other major supply chain startups, including Project44 and Cart.com, show all of them are on track for decent double-digit percentage revenue growth this year. And with venture dollars drying up, these startups are scrambling... Read more âș
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The good news from techâs earnings season, so far, is that the ad market appears to have recovered a lot from the worst of the downturn. But thatâs likely not true for enterprise software. While we havenât yet heard earnings updates from most enterprise software firms, some of those who have reported suggest that business remains weak, thanks to a software spending pullback by corporate America. Itâs no wonder that... Read more âș
0
Weâre starting the week off with a scoop about Instagramâs efforts to court creators. Instagramâs Threads recently invited some creators to join âPops,â a new community of reality TV and pop culture creators on the text-based app. Among other incentives, it will offer challenges where creators compete to win unnamed âspecial prizes,â we are the first to report. Separately, the Meta Platforms-owned app is giving holiday bonuses to some creators... Read more âș
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Elon Musk finally unveiled his alternative to OpenAIâs ChatGPT, which he developed because he felt it was too woke, as my colleagues first revealed eight months ago. Why do it on a Sunday? Perhaps because OpenAIâs Dev Day event in San Francisco is this morning, and Muskâs xAI team was hoping to upstage it. (Musk also doesnât distinguish between weekdays and weekends, much to the dismay of our social media... Read more âș
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The Walt Disney Co. has been a scene of near-constant reorganization for the past few years. And more of that is likely to come as Disney, along with other entertainment companies, tries to get the right structure in place to cope with changes in the industry caused by the rise of streaming video. The most recent shakeup came Monday, as Disney named PepsiCo vice chairman and chief financial officer Hugh... Read more âș
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Massachusetts-based battery developer 24M Technologies claims it has significantly increased how tightly electrodes can be stacked in a battery pack, improving energy density and electric vehicle driving range. If 24Mâs assertions are true, its new battery could outperform groundbreaking, roughly similar batteries made by Chinaâs Byd and Contemporary Amperex Technology Ltd., the worldâs two largest EV battery manufacturers. Read more âș
0
Most popular sources
Business Insider
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35% 8 |
CNET
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11% 4 |
TechRadar
|
7% 5 |
The Verge
|
7% 2 |
Gizmodo
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6% 2 |
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29.11.2024 09:37
Last update: 09:32 EDT.
News rating updated: 16:32.
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