Much of the startup world has gotten a clear message from investors: Stop bleeding cash. Databricks, one of the software startups trying to benefit most from rabid corporate interest in artificial intelligence, is taking a different tack—and getting rewarded for it. Databricks, on the verge of raising a new round of funding at a $43 billion valuation, more than doubled its cash burn last year to $430 million and expects... Read more ›
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I’ve spent the past two weeks digging into retail websites that call themselves prop or funded trading firms to report on a story about how HR startup Deel has quietly become the default payout provider for traders on these sites. I quickly discovered how much these websites, which proliferated after the meme stock trading craze of 2020-2021, were intertwined with social media, from the site’s Discord channels to the trader-influencers... Read more ›
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Last year, Nvidia made an unusual proposal to Amazon Web Services and other cloud providers that have long been the biggest buyers of Nvidia’s specialized artificial intelligence server chips. Nvidia wanted to lease Nvidia-powered servers in the cloud providers’ data centers so it could turn around and rent the same servers to AI software developers. Those developers included some of the biggest cloud customers in the world. As the discussions... Read more ›
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Since ChatGPT’s launch last November, much of the discussion around artificial intelligence has shifted from awe and amazement to more pragmatic questions such as how to manage exploding compute costs associated with developing and using it commercially. Luckily, new findings from MLCommons, a non-profit that develops evaluations and datasets for machine learning, may help answer such questions. On Monday, the organization released a benchmark comparing chips and software that power... Read more ›
0
In December last year, Apple CEO Tim Cook traveled to Phoenix, stood with President Joe Biden in front of a high-profile factory Taiwan Semiconductor Manufacturing Co. was constructing and said the facility would produce chips for the iPhone maker. The comments seemed to commit Apple to aid Biden’s goal of lessening reliance on foreign chipmaking facilities—namely in Taiwan, which has been under threat of a takeover or blockade by China.... Read more ›
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Detroit’s Big Three carmakers and the United Auto Workers union are slugging it out over higher wages, pensions and shorter workdays as a deadline looms this week in their latest four-year round of contract negotiations. But the unseen driver in the strategies of the two sides is survival amid the shift to electric vehicles, the most fundamental retooling of the industry since the introduction of the assembly line more than... Read more ›
0
Hi, welcome to your Weekend.“The playa doesn’t give you what you want. It gives you what you need.” I’ve been hearing that old Burning Man saw around these parts since the early 2000s—most recently by a participant in this weekend’s cover story, The Instant Oral History of ‘Trench Foot Burning Man.’ But never has the truism seemed more true than at this year’s Burn. So what did the playa give... Read more ›
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Adventurer: James Currier, founding partner at NFX, co-founder of Tickle, Wonderhill, IronPearl Escapades: Long-haul sailing, Himalayan treks, snow camping It was 10:40 p.m. one night this June when NFX founding partner James Currier’s 30-foot-long sailboat suddenly lurched sideways, shoved by an unknown force beneath the Mediterranean waves. Currier, who was sailing from Portugal to Greece with two of his four sons, kept one eye on the rocky shore, which grew... Read more ›
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It’s day 3 of the Flexport CEO shakeup saga, which seems the perfect set up for a corporate TV drama, if only Hollywood writers weren’t on strike. Today’s developments included Flexport founder and once-again CEO Ryan Petersen not-so-subtly criticizing the management of Dave Clark, the former Amazonian ousted as Flexport CEO on Wednesday after a year in the job. Petersen tweeted today that he was rescinding 75 job offers for... Read more ›
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Some of the most active startup investors have been hanging a “for sale” sign on their portfolios at a time when venture investors are finding it increasingly difficult to raise new venture funds. Insight Partners has considered selling a stake valued at $400 million in Left Lane Capital, a consumer-focused venture capital firm founded by a former Insight principal, according to a person with direct knowledge of the matter. Insight... Read more ›
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Burning Man 2023 began on Sunday, August 27, as it normally does: with several days of blistering sunshine, pounding bass and playa dust. Then, between Friday and Saturday, a surprise deluge hit northwest Nevada—dumping two months’ worth of rain in 24 hours—and things really began to get interesting. Justin Kan, general partner at Goat Capital and co-founder of Twitch: This is my 10th year at Burning Man. Monday through Friday... Read more ›
0
There aren’t many business books that tell you to fire your customers. But there should be. Enterprise value > revenue was a big theme on this week's pod along with more conversation about the huge shifts happening in how consumer startups make money and get financed. I even got a John Malone fax story in. Hope you enjoy, and please send us feedback and share your thoughts via a review.... Read more ›
0
By the time Jonathan Greenblatt jumped on the phone at 10:30 a.m. Pacific time this Wednesday, he had already made the rounds on CNN, CNBC and MSNBC. It had been a high blood pressure day for the CEO and national director of the Anti-Defamation League. And that was before X owner Elon Musk fired off the latest in a barrage of tweets taking direct aim at “Jonathan at ADL,” whom... Read more ›
0
Chatter around initial public offerings appears to be enticing investors to bid for shares of private companies on secondary markets, but not always the price they’re willing to pay for those shares. Caplight, which tracks private markets, said the dollar value of bids to buy shares of pre-public companies more than doubled this year through August, compared with the same period last year. Offers to sell shares were largely unchanged.... Read more ›
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For more than a decade, the Raine Group has wielded its connections—especially to SoftBank CEO Masayoshi Son—to land big deals and punch above its weight on Wall Street. Next week, one of the most hotly anticipated initial public offerings in years will serve as the latest test of their partnership. Raine holds a flagship position on SoftBank-owned Arm Holdings’ blockbuster offering, which could be a coup for a bank that... Read more ›
3
A U.S. government probe of a high-risk “trading site” called MyForexFunds, which the government has accused of operating a Ponzi scheme, has entangled others from the fintech industry. The Commodity Futures Trading Commission, during an investigation of MyForexFunds that covered a period between late 2021 and late 2022, subpoenaed Deel and Coinbase for information about payments between the services, according to a court document seen by The Information. Read more ›
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So much for business as usual. The abrupt ouster of Dave Clark as CEO of Flexport is not just a story about the startup world rejecting a big tech (in this case Amazon) executive. It’s not just a story about a founder who regretted stepping aside, who probably didn’t love the life of a venture capitalist and decided to jump back in. It’s really a story about how the playbook... Read more ›
0
Dave Clark knew something was off when the executive chairman of Flexport, Ryan Petersen, showed up on the video call on Wednesday with Robert Swan, a board member at the freight forwarder. Clark—a former star Amazon executive whom Petersen had lured to Flexport to become its CEO last year—had expected Petersen to be on the call by himself. Petersen and Swan quickly broke the news to Clark: Wednesday was his... Read more ›
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A decade ago, companies tapped college students to hand out t-shirts, rep their gear (think: wearing a Red Bull backpack to class), and give out flyers on university campuses. Now, many of these college ambassador programs are turning college students into mini influencers. For beauty company Clinique, for example, students create and post content on Instagram and TikTok to “create buzz” about its products. And they must have a modest... Read more ›
14
Welcome back!For months I’d heard murmurings about Midjourney, a little artificial intelligence image generator company that had grown to almost 15 million users and hundreds of millions in revenue without any venture funding. I found that the company is also profitable, a major feat for a bootstrapped startup. (Read my profile of the startup and its eclectic founder, David Holz.) I also discovered that Discord, a gaming chat valued at... Read more ›
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02.04.2026 01:57
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