You really can’t beat tech industry founders (and a few venture capitalists) when it comes to setting new standards of chutzpah. The latest example? As my colleague Erin Woo scooped today, Bolt founder Ryan Breslow is proposing to return as CEO of the once-hot e-commerce startup. He claims to have the backing of an overseas investor who would put up a couple of hundred million dollars while existing shareholders would... Read more ›
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A report from Carta published last week showed just how little venture capital funds have returned in cash to investors, adding to the disappointment in the asset class over the past few years. But a number of venture capitalists—and even some limited partners—say those findings aren’t as bad as they look. To recap, Carta, which sells software to manage investment firms’ portfolios, said only 9% of 2021 vintage VC funds... Read more ›
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Ryan Breslow’s proposed return as CEO of Bolt, a commerce software firm that became one of the biggest symbols of investor overexuberance during the pandemic-fueled tech boom, would carry a high cost for existing investors. The deal proposed by Breslow and the company’s current CEO also would reward Breslow with lots of cash for himself and other ventures he started or got involved with after leaving Bolt two years ago.... Read more ›
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Democrats are trying to one up Republicans when it comes to creators this election cycle. The Democratic National Convention invited more than 200 influencers to the nearly weeklong event, which kicked off on Monday in Chicago. That’s double the number invited to the Republican National Convention last month. It’s the first time either political convention has offered the same kind of access to social media creators as they grant to... Read more ›
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Jeff Bezos has no plans to bid on the Boston Celtics, according to a person close to Bezos. Since Monday, sports media has been abuzz about the possibility that the billionaire founder of Amazon was considering making an offer for the team, after podcaster Bill Simmons gave credence to the rumors in an episode of his show. But according to the person close to Bezos, there’s “zero truth” to the... Read more ›
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Publisher Condé Nast, the owner of magazine titles including Vogue, The New Yorker and GQ, has struck a multi-year licensing deal with OpenAI, the company’s CEO, Roger Lynch, announced in a memo to staff. As part of the deal, content from Condé Nast publications will now appear within OpenAI ... Read more ›
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Alex Cooper signed a deal with SiriusXM for her popular “Call Her Daddy” podcast, as well as her network of other shows. The three-year deal is worth $100 million, according to Bloomberg. The deal, which goes into effect in 2025, will give SiriusXM the exclusive right to sell ads on the audio ... Read more ›
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As startup founder comebacks go, this may rank as one of the most remarkable. Bolt founder Ryan Breslow is returning as CEO to the embattled e-commerce startup, two and a half years after he stepped down. And he potentially comes with another $450 million: The company is finalizing a $450 million Series F funding round from investment firms in the United Arab Emirates and the U.K. that will value Bolt... Read more ›
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So far, many of the improvements in large language models’ capabilities have stemmed from a surprisingly simple concept: scaling laws. Essentially, researchers have noticed that the more computing power and data you use to train AI models, the better they perform. This realization has pushed labs like OpenAI, Meta Platforms, Anthropic and Google into fierce (and expensive) battles for chips and new sources of training data. But, new research from... Read more ›
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Since chip-design firm Arm Holdings went public last September, excitement around generative AI has sent its stock soaring, to a high last month of $188, more than triple its initial public offering price. While the stock has since fallen back a bit, investors are still valuing Arm at a big premium to Nvidia both on a multiple of future revenue and profits. That’s despite the fact that Nvidia dominates the... Read more ›
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State Street, the Boston-based custody and financial services giant, has tapped Swiss startup Taurus as a technology vendor for its digital assets services. State Street will use Taurus’ technology to build tokenization services for clients, allowing them to record and transfer traditional ... Read more ›
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Palo Alto Networks on Monday said revenue rose 12% to $2.2 billion in the July quarter, or 1 percentage point higher than the cybersecurity software seller had projected three months ago. The company said revenue growth would be similar in the October fiscal quarter, and that its free cash flow ... Read more ›
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Sports fans, listen up. If you were planning to sign up for the new Venu sports-streaming service due to launch this fall—to include sports cable channels such as ESPN, TNT and Fox Sports 1, all for the cut-rate price of just $43 a month—think again. Chances are Venu will never see the light of day, thanks to a judge’s ruling on Friday night blocking the launch temporarily.A read of the... Read more ›
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General Catalyst has hired investment manager Blackstone’s global head of marketing, Arielle Gross Samuels. She will lead marketing and communications when she joins the venture capital firm’s New York office in early September, according to a spokesperson. The hire speaks to the growing ... Read more ›
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Disney+ and Warner Bros. Discovery’s Max have bet their futures on shows built around Marvel action heroes and George R.R. Martin fantasy novels, or what former WarnerMedia CEO Jason Kilar called “beloved characters and worlds.” But these streaming services, and their legacy media competitors, are struggling. Such shows are expensive to produce and don’t generate enough subscribers to justify the cost. And there are typically long gaps between seasons, when... Read more ›
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Mike Lynch, a tech entrepreneur who was recently acquitted of fraud related to the $10.3 billion sale of software firm Autonomy to Hewlett Packard in 2011, is among seven people missing after a superyacht sank near Sicily. The yacht was anchored off Sicily when a storm struck the 184-foot vessel ... Read more ›
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For the past year, an enterprising bunch of freelance hackers has been publicizing on social media how they’ve been able to manipulate the most sophisticated artificial intelligence models. Their “jailbreaks” produce answers that violate the models’ own guardrails, by prompting the models to disclose designs for weapons, drug recipes or sexually explicit images. In response, AI model makers like Anthropic, taking a page from the cybersecurity industry, have started to... Read more ›
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AMD is acquiring ZT Systems, which sells AI infrastructure for cloud computing firms, for $4.9 billion in cash and stock. The acquisition is aimed at boosting AMD’s ability to sell AI technology for data centers. ZT “adds world class systems design and rack scale solutions expertise,” said ... Read more ›
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Thomvest Ventures was finishing an early-stage investment in an artificial intelligence startup when the San Francisco–based firm’s managing director, Don Butler, noticed Thomvest’s lawyer had made a subtle change to the fine print of the deal’s term sheet. In a section outlining what would constitute a liquidation event for the startup—typically, a sale, initial public offering or bankruptcy—the lawyer had added “an exclusive and material license of the company’s intellectual... Read more ›
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Amid a groundswell of Democratic support in Silicon Valley, Alex Karp, the Palantir co-founder, has broken his usual silence to publicly endorse Kamala Harris. Karp, who seldom gives media interviews, told The New York Times that he had given President Joe Biden $360,000—a sum that would make ... Read more ›
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Most popular sources
Business Insider
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34% 5 |
Eurogamer.net
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7% 1 |
The Verge
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7% 4 |
CNET
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7% 2 |
Gizmodo
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6% 1 |
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25.11.2024 15:23
Last update: 15:15 EDT.
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