Dave Clark, a veteran Amazon executive who helped transform the company into a logistics juggernaut, made a huge splash last summer when he announced he was joining Flexport, a startup looking to shake up the old school freight business that had ballooned to an $8 billion valuation with backing from SoftBank and Andreessen Horowitz. But Clark, who had earned a reputation as a big spender and bold risk taker at... Read more âș
3
The one constant of 2023 has been a sense of accelerating change as media businesses shift from distributing content through intermediaries such as cable providers to engaging directly with consumers. Change alone creates uncertainty. Change in areas where recent attempts to navigate a transition have largely failed is scary for managers and investors alike. The situation reminds me of the final moments of âIndiana Jones and the Last Crusade,â when... Read more âș
3
In the race to win the large-language model race, one big tech name has not surfaced as a contestant: Apple. Until now.My colleague Wayne Ma reported on Wednesday that Apple created a team four years ago, long before the current generative AI hype cycle, to develop large-language models. In other words, Apple may not be as much of an LLM laggard as people thought.That shouldnât be surprising, given that Apple... Read more âș
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After years of anticipation, a trial next week in Washington, D.C., will attempt to answer a critical question: Did Google break antitrust laws by striking deals with companies like Apple and Samsung to make its search engine the default on their products? Those business arrangements are expected to be at the heart of the 10-week trial, which will shed new light on Googleâs path to dominating the search market and... Read more âș
0
The Inflation Reduction Act was meant to keep companies like Huayou Cobalt, a leading Chinese supplier of battery-grade nickel to Western carmakers including Tesla, Ford and Volkswagen, out of the U.S. battery supply chain. But the company is attempting to break into the U.S. market anyway and qualify for IRA tax credits.In a conversation this week, an executive from Huayouâs U.S. strategy team provided one of the clearest glimpses yet... Read more âș
27
Behind the scenes of its much-anticipated initial public offering, SoftBank-owned chip designer Arm has pushed a clear message to skeptical analysts and investors: Growth is coming soon. The company told investment banking analysts last month in Cambridge, England, that its recently flat revenue growth would re-accelerate over the next few years after it hiked royalty fees by about 40% on smartphone companies using a new version of its chip technology,... Read more âș
2
Memo to would-be CEOs: Next time a company founder approaches you about taking the reins from them, run in the opposite direction as fast as you can. As we were reminded on Wednesday, when former Amazonian Dave Clark said he was yielding the top job at freight forwarder Flexport to founder Ryan Petersen, successfully filling a founderâs shoes involves more than ensuring theyâre the right size. Clark joins a long... Read more âș
0
Clubhouse, after laying off half its staff in April to âresetâ the company, on Wednesday revealed a long-awaited revamp. Itâs updating the app to feature voice-only group chats with friends or friends of friends that happen asynchronously. The live, public audio groups that Clubhouse popularized during the pandemic shutdowns arenât going away, but theyâll no longer be a primary focus for users. The news isnât a total surprise: The app... Read more âș
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Apple has been expanding its computing budget for building artificial intelligence to millions of dollars a day. One of its goals is to develop features such as one that allows iPhone customers to use simple voice commands to automate tasks involving multiple steps, according to people familiar with the effort. The technology, for instance, could allow someone to tell the Siri voice assistant on their phone to create a GIF... Read more âș
63
Crypto firm Genesis, whose lending unit filed for bankruptcy in January, said last week that its parent company, Digital Currency Group, and a committee of creditors had tentatively agreed to a restructuring deal that would be a big step toward paying back customers. But thereâs been a lot more going on behind the scenes.Crypto exchange Gemini, which is the biggest Genesis creditor, has been quietly pitching an alternative plan to... Read more âș
0
In the past two months, the number of people using a Discord server dubbed Pika has quietly grown from zero to more than 160,000. Thousands of users post requests such as, âa sleek, electric car silently glides across the screen against a backdrop of futuristic cityscapesâ and âclouds move with breeze.â The server spits back three-second AI-generated video clips in return.The startup hasnât gotten much press attention, but itâs gotten... Read more âș
0
In February 2022, Chris Fear was sitting in her car outside Scottsdale, Ariz., a couple of hours after sunset with the windows down, when she heard a manâs voice. âGet out of your car,â the man said from the darkness. Fear had spent the prior couple of hours delivering packages for Amazon, but she had gotten lost on the way to a customerâs house after Amazonâs routing software sent her... Read more âș
14
Four-year-old Deel has become one of the fastest-growing and most valuable startups by positioning itself as a way for businesses to hire contract employees anywhere in a snap. What the human resources startup doesnât talk about in its prolific marketing is the fact that the company, last valued by investors at $12 billion, has also become the exclusive way nearly a dozen websites in a high-risk corner of retail investing... Read more âș
35
Itâs time for an updated edition of âGames People Play,â one dedicated to IPO marketing. The prime example could be SoftBank and the army of bankers it has on tap that are marketing the IPO for chip design firm Arm. Theyâre doing a masterful job in manipulating what the media thinks SoftBank wants. A few weeks ago, we saw reports that SoftBank was hoping Arm would be valued at between... Read more âș
30
You may have heard about Midjourney, a generative artificial intelligence company that specializes in creating images from text prompts and visual inputs. My colleague Kate Clark today published an in-depth profile of the startup, whose founder David Holz refuses to take venture capital and hosts the service on Discord, a chat application popular with gamers. Some artists fear generative AI programs may make their work obsolete, or unfairly use their... Read more âș
47
Meta Platformsâ releases of its large-language models, Llama and Llama 2, in the past six months have won the company praise for offering free, open-source alternatives to models from OpenAI and Anthropic. But for some of the scientists and engineers who worked on Llama, that praise was too little, too late. Many have quit, embittered by a previously unreported internal battle over computing resources with another Meta research team working... Read more âș
29
Tomorrow, dozens of startups will take to the virtual stage to pitch their ideas as part of Y Combinatorâs iconic Demo Day, though some well-known investors have already gotten an early look at them. This year, more than 60% of the groupâor 134 startupsâare building applications or tools around artificial intelligence, mostly related to large-language models, according to YCâs startup directory. In past YC groups, the percentage of startups bucketed... Read more âș
19
Ever since David Holz founded Midjourney in mid-2021, venture capitalists have been practically begging him to take their money. On top of cold-calling and emailing Holz incessantly, some have asked his inner circle for âwarmâ introductions. Others have preemptively sent him term sheets. A lucky few have landed meetings with the 35-year-old CEO of Midjourney, which uses machine-learning models to generate uncanny, hyperrealistic images. Index Ventures partner Mike Volpi scored... Read more âș
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In 1876, millions of visitors to the Worldâs Fair in Philadelphia saw the first typewriter, the largest steam engine ever, and arguably the showstopperâthe telephone, demonstrated by Alexander Graham Bell. Seventeen years later, visitors to the Chicago Worldâs Fair witnessed Nikola Teslaâs system of alternating electric current and the âCity of Lightâ it created.Every four or so years for the last century and a half, nations have gathered in gigantic... Read more âș
22
Hi, welcome to your Weekend.This week, weâre publishing stories from near (a testosterone party in San Francisco) and far (Jessica's four-day reporting junket in China). But thereâs another story weâre tracking that is geographically close to home and psychologically close to Never Never Land. Iâm talking about the dream city of California Forever. As scooped earlier this week by the New York Times, the shadowy backers of a new urban... Read more âș
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02.04.2026 02:23
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