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The official channel of V3V Ventures. We share updates on our investments, portfolio companies, and fund activities. Buy Ads: @JamesCookTg (this is our only account).
🌐 Perplexity has reportedly closed a $500M funding round
Perplexity, an AI-powered search engine, has reportedly closed a $500 million funding round, bringing its valuation to $9 billion. Led by Institutional Venture Partners, this funding round closed earlier in December. Despite facing a class action lawsuit over alleged copyright infringement, Perplexity continues to grow; it recently acquired Carbon, a startup that connects AI systems to external data sources.
The funding comes amid increasing competition in the AI search space, with OpenAI launching ChatGPT Search and Google developing features to rival Perplexity, including AI-generated summaries and a potential chatbot-like mode in its search engine.
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🫶 With 25M users, Bluesky gets a $1M fund to take on social media and AI
Bluesky, the decentralized social media platform created by Jack Dorsey, has announced a new fund called Skyseed, which has an initial budget of $1 million.
This fund aims to support developers building on Bluesky's open-source AT Protocol and is looking to foster innovations in areas like data privacy for AI and applications for parents and local communities. Bluesky currently has 25 million users and is positioning itself as an alternative to Elon Musk's X (formerly Twitter). Notably, the fund is independent of Bluesky itself.
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🔹 Salesforce plans to hire 2,000 people to sell its AI products
Salesforce plans to hire 2,000 new sales representatives to promote its AI products, doubling its previous hiring target. CEO Marc Benioff announced the initiative, noting that the company has already received 9,000 referrals for these positions.
This expansion comes ahead of the anticipated release of Salesforce's second-generation AI agent software in February. Benioff expressed great excitement about the potential of generative AI, predicting that Salesforce will have over a billion AI agents running within the next year.
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😄 Jay-Z’s Marcy Venture Partners merges with investment arm of Pendulum Holdings
Jay-Z's venture capital firm, Marcy Venture Partners, has merged with Pendulum Holdings’ investment arm, Pendulum Opportunities, to create MarcyPen Capital Partners. The new firm boasts $900 million in assets under management, as confirmed by PitchBook. The merger was finalized around September, although MarcyPen did not provide additional comments.
Pendulum Opportunities was previously raising a $250 million Fund II and will continue this effort under the new name, MarcyPen Opportunities Fund II, having already secured over $100 million.
Marcy Venture Partners, founded in 2018 by Jay-Z, Jay Brown, and Larry Marcus, has invested in various companies, including Partake Foods and Savage x Fenty. Pendulum, established in 2019 by Robbie Robinson and D’Rita, has backed firms like Greenwood Bank and Adwoa Beauty.
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🚨 Cohere is quietly working with Palantir to deploy its AI models
Cohere, a prominent AI startup co-founded by an author of the influential "Attention Is All You Need" paper, reached a valuation of $5.5 billion as of July. Based in Toronto and San Francisco, Cohere focuses on providing AI solutions to enterprise customers, without a consumer-facing chatbot. Recently, it was revealed that Palantir, known for its partnerships in the defense sector, is also working with Cohere.
During a presentation at Palantir's DevCon1 conference, Cohere engineer Billy Trend noted that Cohere's models are already deployed with various unnamed Palantir customers. One specific deployment involves a customer with stringent data storage constraints that requires inference in Arabic, an area where Cohere excels.
Palantir customers can access Cohere's AI models through "compute modules" integrated within Foundry, Palantir's commercial platform. While the exact customers using Cohere through Palantir are not disclosed, the partnership suggests potential corporate applications rather than strictly defense-related ones. Cohere has previously highlighted collaborations with major tech firms but has remained silent on its dealings with Palantir. When asked about military or intelligence-related use cases, Cohere declined to comment.
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🔻 Apple reportedly developing foldable iPhone and iPad
Reports suggest that Apple's next major upgrade for mobile devices may involve foldable technology. The Wall Street Journal indicates that Apple plans to launch two foldable devices: a larger 19-inch model that could compete with desktop monitors and a smaller foldable device resembling an iPhone, featuring a screen larger than the iPhone 16 Pro Max. The foldable iPhone is expected to be ready first, with a potential launch in 2026, though this timeline may be delayed by a year.
Bloomberg describes the larger device as akin to a giant iPad and notes that it has been the main focus of Apple's foldable development. The company is also working on creating a foldable screen that eliminates the visible crease seen in current models, making significant progress in this area.
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💬 Arlan Hamilton announces changes at Backstage Capital, will step into advisory role
Arlan Hamilton, founder of Backstage Capital, announced that she will transition from her role as managing partner to chairperson and advisor. This change will allow her to focus on amplifying the firm's mission, hosting office hours for founders and investors, and bringing new opportunities through her platform. Backstage Capital will also enter a strategic partnership with 360 Venture Collective, which will acquire a significant stake in the firm and help manage operations, capital, and scaling efforts. Together, they plan to launch a $200 million fund in 2025.
Backstage Capital has invested in over 200 companies, including Guava and Career Karma, and currently manages around $20 million in assets. However, the firm has faced challenges in recent years, including a slowdown in investments and a downsizing of its team. Hamilton expressed frustration with limited partners who believed the firm had adequate support, despite the difficulties it faced.
She emphasized that the partnership with 360 Ventures will enhance Backstage's sustainability and ability to support underestimated founders, stating her confidence in the firm's future growth and her commitment to its mission.
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🚨 Databricks is on track to raise a record $9.5+ billion round at $60B valuation
Databricks is nearing completion of a $9.5 billion funding round at a valuation of $60 billion, which includes a secondary sale for employees. This marks an increase from a previous report just 17 days ago, which noted an $8 billion deal and a $55 billion valuation. Thrive Capital is leading the investment, joined by returning investors such as Andreessen Horowitz, Insight Partners, and GIC.
This funding round surpasses OpenAI's record $6.6 billion raise from October. Additionally, Databricks may take on $4.5 billion in debt as part of the deal. Despite the large figures, venture capitalists view the $92.50 per share price as a bargain, especially compared to Databricks' main competitor, Snowflake, which has a market cap of around $56 billion.
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🔸 UnitedHealth’s Optum left an AI chatbot, used by employees to ask questions about claims, exposed to the internet
Optum, a healthcare subsidiary of UnitedHealth, has restricted access to an internal AI chatbot after a security researcher discovered it was publicly accessible online without a password. The chatbot, intended to assist employees with patient health insurance claims according to standard operating procedures, did not contain sensitive personal information but raised concerns amid ongoing scrutiny of UnitedHealth's AI practices, which are accused of improperly denying patient claims.
The chatbot, called "SOP Chatbot," was meant as a demo tool and never went into production. It referenced internal documents and had been used hundreds of times since September. Following inquiries from TechCrunch, the chatbot was taken offline.
Optum emphasized that the chatbot was not designed to make decisions but to enhance access to existing SOPs. However, the incident highlights ongoing criticisms of UnitedHealth's use of AI in decision-making, particularly regarding alleged wrongful claim denials. The company is facing lawsuits related to its AI practices, which reportedly have a high error rate in denying care. UnitedHealth Group reported $22 billion in profit in 2023, amidst these controversies.
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🚨 Nearly half of US teens are online almost constantly, Pew study finds
A new Pew Research Center study reveals that nearly half of U.S. teens are online almost constantly, with YouTube being the most popular platform. About 46% of teens report being online regularly, and 90% use YouTube, with 73% accessing it daily. Other popular platforms include TikTok and Instagram, used by 60% of teens, while 55% use Snapchat.
The study highlights a significant decline in Facebook usage among teens, dropping from 71% a decade ago to just 32% today. Similarly, the use of X (formerly Twitter) has decreased, with only 17% of teens reporting usage, down from 33% ten years ago and 23% in 2022.
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🔹 SolarSquare raises $40 million in India’s largest solar venture round
SolarSquare has raised $40 million in a funding round led by Lightspeed, marking the largest venture investment in India's solar sector. Based in Mumbai, SolarSquare transitioned from corporate sales to residential solar in 2021 and now powers over 20,000 homes, becoming India’s largest operator of distributed solar assets. Co-founder Shreya Mishra emphasizes the alignment of profit and purpose in this rapidly growing industry.
The company differentiates itself by guaranteeing returns on solar investments, promising compensation if energy outputs fall short. With average installation costs around $1,500, SolarSquare aims to make solar energy accessible and attractive. Government incentives have fueled interest in solar, as only 1% of Indian homes currently adopt it compared to higher rates in countries like Australia.
India has ambitious renewable energy targets, aiming for 500 gigawatts by 2030, with solar expected to contribute 280 gigawatts. The government supports this transition with various incentives, including tax benefits and subsidies, while SolarSquare aids customers in navigating these opportunities.
With the new funding, SolarSquare plans to expand its operations from 20 to 50 cities, partnering with local entities to maintain quality. The investment reflects Lightspeed's growing commitment to the Indian market, where it has invested in multiple startups.
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🚨 OpenAI-backed Speak raises $78M at $1B valuation to help users learn languages by talking out loud
Speak has developed a language learning platform that mimics how native speakers acquire languages, emphasizing listening and speaking over traditional reading and writing methods. The startup recently raised $78 million in a Series C funding round, increasing its valuation to $1 billion. The round was led by Accel, with participation from notable investors like OpenAI, Khosla Ventures, and Y Combinator.
The funding will help expand the number of languages offered, starting with Spanish and French, while continuing to support English learners. Speak's approach focuses on practical communication skills, utilizing AI to generate audio conversations and facilitate user practice without human involvement. The app has been downloaded over 10 million times, with users averaging 10-20 minutes of usage daily, and it operates on a subscription model.
Speak's learning process involves three steps: immersion in listening and speaking, repetitive practice of new phrases, and contextual application of language using AI. The company aims to avoid traditional test preparation, prioritizing real-world communication skills. While it currently lacks integrations with standardized language assessments, plans for a fluency scoring system are in development.
Gamification is not yet part of Speak's strategy, but future updates may include features that encourage engagement without sacrificing educational effectiveness. The successful funding round and strategic investments highlight Speak's potential in the consumer AI and language learning markets.
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🔵 Joby launches $300M public offering ahead of 2025 commercial eVTOL release
Joby Aviation, a startup focused on electric vertical takeoff and landing vehicles, has initiated a public offering to sell up to $300 million in common stock, following a previous $222 million raise in October. This could bring Joby's total funding to $522 million as it prepares for a commercial launch in 2025.
The funds will support certification, manufacturing, and general working capital as Joby aims to introduce air taxis in major cities like New York, Los Angeles, Dubai, and Abu Dhabi, in partnership with Delta Air Lines and Uber. The company also holds a $131 million contract with the Department of Defense.
Before launching, Joby must complete a type certification process to ensure its aircraft meet safety standards. This public offering coincides with the Federal Aviation Administration's recent approval for eVTOLs to operate alongside traditional aircraft, as well as a $500 million investment from existing investor Toyota. To date, Joby has raised a total of $2.6 billion.
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🚨 YC-backed Zimi raises $2M to help international merchants easily sell in the U.S.
Audrey Djiya and Peter Nsaka, both with entrepreneurial backgrounds, co-founded Zimi to simplify cross-border commerce for international merchants. Djiya, inspired by her family's business history, and Nsaka, who noticed a lack of representation for Africa in e-commerce data while at Shopify, aimed to address the challenges faced by brands shipping internationally, such as high costs and long delivery times.
Launched earlier this year, Zimi recently secured a $2 million seed round led by Fearless Fund, with participation from Y Combinator and others. The company focuses on providing localized fulfillment centers for merchants selling into the U.S., helping them navigate tax regulations, currency exchange, and compliance.
Zimi differentiates itself by offering a holistic platform for merchants to manage all aspects of international sales in one place. The founders initially attracted customers through direct outreach on social media and LinkedIn, sharing their journey and insights.
The seed funding will be used to expand Zimi's U.S. fulfillment network, develop AI models for improved merchant experiences, and launch a payment solution to facilitate dollar transactions for international merchants. Zimi is seeing strong interest from brands worldwide looking to access U.S. markets and plans to grow its infrastructure and team to support this demand.
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🚨 Apple sued over abandoning CSAM detection for iCloud
Apple is facing a lawsuit for not implementing a system to scan iCloud photos for child sexual abuse material (CSAM). The lawsuit claims that Apple's failure to take action forces victims to relive their trauma, despite the company previously announcing plans to enhance child protection measures. In 2021, Apple proposed using digital signatures from the National Center for Missing and Exploited Children to detect known CSAM in iCloud, but abandoned the initiative amid concerns from privacy advocates about potential government surveillance.
The lawsuit is brought by a 27-year-old woman who, under a pseudonym, recounts being molested as an infant and continues to receive law enforcement notifications about charges related to images of her. Attorney James Marsh indicated that there could be a group of 2,680 victims eligible for compensation. Apple stated that it is actively working on solutions to combat these crimes while maintaining user security and privacy. This lawsuit follows another case from August, where a 9-year-old girl and her guardian accused Apple of failing to address CSAM on iCloud.
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🚨 Google releases its own ‘reasoning’ AI model
Google has introduced a new experimental AI model called Gemini 2.0 Flash Thinking Experimental, designed for multimodal understanding, reasoning, and coding. This model is part of Google’s AI Studio and aims to tackle complex problems in fields like programming and math.
While the model is still in early stages and shows promise, it has room for improvement. It is trained to reason through problems, often fact-checking itself to avoid common AI pitfalls, but this process can be slower compared to traditional models. Early tests revealed some limitations, such as inaccuracies in counting letters.
The development of reasoning models like Gemini 2.0 follows a wave of similar releases from other AI labs, driven by the need for improved approaches in generative AI. However, there are concerns about the high computational costs and whether reasoning models can sustain their performance improvements over time.
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🔸 Menlo Ventures and Anthropic have picked the first 18 startups for their $100M fund
Menlo Ventures and Anthropic have selected the first 18 startups for their newly established $100 million Anthology Fund, which focuses on supporting innovative companies in the AI space. The selected startups were chosen from thousands of applicants and include those working on areas such as recruitment software, autonomous coding, fintech compliance, and radiology analysis.
The fund aims to combine elements of a corporate startup program and an incubator, offering investments of at least $100,000 along with $25,000 in credits for Anthropic’s AI models. This initiative reflects a broader strategy to explore new applications built on AI foundational models, positioning both Menlo Ventures and Anthropic at the forefront of upcoming trends in AI for 2025.
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🚨 Insight VC describes Databricks’ wild $10B deal and the bad advice the CEO ignored
Databricks recently completed a record-breaking $10 billion fundraising round, attracting significant interest from investors, including Insight Partners and Thrive. The deal's valuation quickly escalated from approximately $8 billion to $10 billion, reflecting strong institutional demand for Databricks' offerings, especially in the AI and data infrastructure space.
CEO Ali Ghodsi initially sought advice from Insight's George Mathew about entering the data warehousing market, to which Mathew responded negatively. However, Ghodsi's decision to launch Databricks SQL has proven successful, positioning the company as a major competitor to Snowflake. Databricks is now on track for a $3 billion revenue run rate, highlighting its growth and the increasing relevance of high-quality data in the age of large language models.
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🚨 Waymo robotaxis are coming to Tokyo in 2025
Waymo will start testing its autonomous vehicle technology in Tokyo in early 2025, marking the first time its robotaxis will operate on public roads outside the U.S. This initiative is part of Waymo's "road trips" program, which aims to adapt its technology to different urban environments, with Tokyo presenting unique challenges such as left-hand driving and high population density.
Waymo plans to collaborate with the taxi-hailing app GO and the taxi company Nihon Kotsu, which will manage and service the Waymo vehicles. Initially, Nihon Kotsu drivers will manually operate the vehicles to map key areas of Tokyo, including Minato, Shinjuku, and Shibuya, before transitioning to autonomous testing with a human operator present.
This announcement follows GM's recent decision to discontinue its Cruise robotaxi program, which included plans for a driverless ride-hailing service in Japan with Honda. In October 2023, GM, Cruise, and Honda had announced intentions to launch a robotaxi service in Tokyo by 2026.
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🚨 How 21-year-old Koko Xs became the new rising-star solo VC
Koko Xs, a 21-year-old venture capitalist, has secured $17.5 million for his first solo fund, backed by prominent investors like Marc Andreessen and Lux Capital. Despite initially considering a career in academia, Xs transitioned to venture capital after working as an investment analyst at Lux and briefly serving as head of growth at Mach Industries, a defense tech startup.
Born in Shenzhen, China, and raised in Massachusetts, Xs saved $140,000 from tuition and work to fund his investments. He is focused on funding deep tech and "deep infrastructure" companies, seeking high-potential investments rather than gimmicky ventures. While he acknowledges the challenges facing solo funds, he believes his boutique strategy can succeed in a tightening market.
Xs aims to aggressively deploy about a third of his fund by year's end, targeting 15 companies that will comprise 80% of the fund's capital. He seeks founders who have faced significant challenges and takes an activist approach to problem-solving. In the long term, Xs envisions expanding into venture index funds, venture credit, and a buy-and-build model.
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🚨 Klarna’s CEO says it stopped hiring thanks to AI but still advertises many open positions
Klarna CEO Sebastian Siemiatkowski recently stated that the company has effectively halted hiring over the past year, attributing this to generative AI's role in reducing the workforce. He noted that Klarna's employee count has dropped from 4,500 to 3,500 due to natural attrition, as employees typically stay for about five years. Despite his confidence in AI's ability to replace human jobs, Klarna is still hiring for over 50 positions globally and has made several new hires in key areas like policy and software engineering.
Craske, Klarna's global press lead, indicated that Siemiatkowski's comments were simplified for the media, explaining that while the company is not actively expanding its workforce, it is backfilling essential roles. Overall, Klarna's employee count remains similar to 2021 levels, and like many tech firms, it has slowed hiring or made layoffs in recent years.
Siemiatkowski’s remarks may also be aimed at impressing potential investors ahead of an upcoming IPO, suggesting that Klarna is leveraging AI effectively. However, the pace of AI adoption across the industry generally remains slower than anticipated.
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⚡️ Why Marc Andreessen was ‘very scared’ after meeting with the Biden administration about AI
Investor Marc Andreessen expressed his fears after meeting with government officials about the future of technology, describing the discussions as "absolutely horrifying." He was particularly alarmed by comments regarding the government's potential control over AI, which he felt would negatively impact Silicon Valley and discourage investments in AI startups. He recalled that officials advised against funding AI ventures.
Andreessen's concerns are notable given his firm's backing of AI startups like Elon Musk’s xAI and Mistral AI. Prior to these meetings, he had published an AI manifesto warning against regulation. While the Biden administration has enacted less severe measures, such as a voluntary executive order for AI companies, responses from Silicon Valley have been mixed.
In contrast, the upcoming Trump administration seems poised to support AI startups, with Trump appointing VC David Sacks as an AI and crypto czar. Andreessen, who has spent significant time at Mar-a-Lago since the election, confirmed his involvement in various initiatives and expressed optimism about Trump's tech approach, noting that Trump encourages tech leaders to build and succeed.
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🚨 G2 Ventures Partners is raising $750 million for a third fund
G2 Venture Partners, which spun out from Kleiner Perkins, is raising a third fund with a target of $750 million, as disclosed in a regulatory filing. This move signals a strong confidence in climate and sustainability startups, even as other investors remain cautiously optimistic about the sector under the incoming Trump administration.
G2VP has invested in notable startups like Arcadia, 1Komma5, and Crusoe, focusing on founders aiming to decouple consumption from growth. Previous limited partners include Daimler, Mitsui, Shell Ventures, and The McKnight Foundation, with their second fund reaching $500 million in 2021. The new $750 million target indicates G2VP's belief in significant opportunities for climate and sustainability startups in the next decade.
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⚡ ServiceTitan’s IPO is a big winner that could inspire fintechs
ServiceTitan, a provider of financial and customer management software for the trades, made a strong debut on the stock market, with its shares rising from an IPO price of $71 to over $100 shortly after trading began. However, its decision to go public was driven more by the need to pay off venture investors than by favorable market conditions. ServiceTitan had agreed to increasing penalties for delaying its IPO, requiring it to raise funds quickly to avoid these penalties.
The company also allocated about $311 million of the IPO proceeds for buying back nonconvertible preferred stock and paying dividends to investors. Although the IPO price may not have fully shielded it from penalties, it still allowed ServiceTitan to raise approximately $625 million, which is crucial for its operations, as it remains unprofitable.
The positive response from retail investors could indicate a renewed interest in tech IPOs, particularly benefiting fintech companies looking to go public. Analysts suggest that ServiceTitan's successful debut could encourage other fintech firms in the IPO pipeline to follow suit.
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✨ Microsoft debuts Phi-4, a new generative AI model, in research preview
Microsoft has introduced Phi-4, the latest model in its Phi family of generative AI, claiming improvements particularly in math problem solving due to enhanced training data quality. Currently, Phi-4 is available in limited access on the Azure AI Foundry platform for research purposes only. This model features 14 billion parameters, competing with other small models like GPT-4o mini and Gemini 2.0 Flash.
The performance boost is attributed to the use of high-quality synthetic datasets and human-generated content, along with unspecified post-training enhancements. Many AI labs are exploring innovations in synthetic data and post-training techniques. Phi-4 is notable as the first model launched after the departure of Sébastien Bubeck, a key figure in its development, who left Microsoft for OpenAI in October.
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🚨 Microsoft will take an $800M hit over Cruise robotaxi shutdown
GM's decision to shut down its Cruise robotaxi program has significant repercussions for its minority investors, notably Microsoft, which will incur an $800 million impairment charge. This charge will negatively impact Microsoft's second-quarter earnings by approximately $0.09 per share. GM, which owns about 90% of Cruise, plans to buy back shares from other investors to increase its stake.
The company had previously raised substantial capital, including $2 billion in a 2021 funding round that valued Cruise at $30 billion, with contributions from Microsoft, Walmart, and Honda. GM will now integrate Cruise into its own efforts to develop driver assistance and autonomous vehicle technologies. Additionally, Honda has announced it will cease funding a joint venture with GM and Cruise for a robotaxi service in Japan.
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🔹 Google says its new quantum chip indicates that multiple universes exist
On Monday, Google unveiled Willow, its latest quantum computing chip, boasting impressive speed and reliability. However, the tech industry's attention was particularly drawn to a bold claim made by Hartmut Neven, founder of Google Quantum AI, suggesting that Willow's extraordinary performance implies the existence of parallel universes, supporting the notion of a multiverse.
Neven highlighted that Willow could perform computations in under five minutes that would take traditional supercomputers 10 septillion years, a figure that vastly exceeds known timescales in physics. While some welcomed this idea as plausible, skeptics noted that the performance metrics were based on benchmarks created by Google itself, raising questions about the validity of these claims.
Quantum computers operate using qubits, which can represent multiple states simultaneously, allowing them to solve complex problems beyond the reach of classical computers. However, the challenge remains that as more qubits are used, the likelihood of errors increases. Google's goal with Willow was to minimize these errors, which Neven asserts has been achieved.
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🔻 Dimension raises $500M second fund for investing at the intersection of tech and life sciences
Raising capital in 2024 has been challenging for many venture capital firms, but Dimension Capital has experienced significant success with its second fund. Within just two years of launching, Dimension raised an oversubscribed $500 million fund, surpassing its $400 million target. Founders Zavian Dar, Adam Goulburn, and Nan Li credit their appeal to a unique focus on investing at the intersection of life sciences and technology, particularly in AI-driven drug discovery.
Since its inception in 2022, Dimension has invested in around 20 companies, half of which remain in stealth mode. Notable portfolio companies include Chai Discovery, which is developing an open-source AI model for drug discovery, and Enveda Biosciences, which raised $130 million for its AI-based medicine development.
Originally focused on early-stage investments, Dimension has shifted to a stage-agnostic approach, allowing it to invest anywhere from $1 million to over $30 million across various development stages, including publicly traded companies. The firm prioritizes biotech startups with teams that include significant computational expertise, ensuring a collaborative environment between biologists and tech specialists.
Dimension's investor base comprises endowments, hospitals, and research institutions, and the firm is impressed by the caliber of entrepreneurs entering the life sciences sector, highlighting the ambition and technical expertise of the new founders.
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🚨 Lead Edge is increasingly steering its 700+ investors away from VC deals
Mitchell Green, founder and manager of Lead Edge Capital, has successfully attracted over $5 billion from more than 700 investors by shifting his strategy towards "control deals"—investments in companies that venture capitalists often overlook. His firm has seen success with investments in notable companies like Alibaba and ByteDance, while also focusing on businesses outside traditional tech hubs, such as a cardiac-monitoring software firm in Florida.
Green emphasizes a disciplined approach to sourcing investments, with his team of analysts evaluating around 10,000 companies annually based on specific criteria. He maintains that Lead Edge does not prioritize ownership percentages; instead, their goal is to drive revenue growth regardless of whether they hold a minority or majority stake in a business.
Despite the challenges in the current venture market, characterized by excessive capital chasing overvalued companies, Green has avoided high-risk, first-generation AI startups, predicting that many will fail due to unsustainable costs. He critiques the venture ecosystem for fostering inflated valuations and emphasizes the need for a return to more grounded investment strategies.
Looking ahead, Green believes in the potential of companies like ByteDance, even under uncertain political conditions regarding TikTok in the U.S. He remains cautious about the broader venture landscape, noting the competitive advantages of established firms and the saturation of capital in the market.
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⚙️ Elon Musk’s X gains a new image generator, Aurora
X, the social network formerly known as Twitter and owned by Elon Musk, has introduced a new image generator called Aurora to its Grok assistant. However, after a brief period of availability on Saturday, the feature disappeared for some users. Like its predecessor, Aurora has minimal restrictions, allowing the generation of images featuring public and copyrighted figures, including graphic content, although it avoids nudity.
Aurora can be accessed via the Grok tab on X's mobile apps and website. While xAI staff announced its launch, details about its development remain unclear—it's uncertain if xAI created Aurora independently, built on an existing generator, or collaborated with a third party. Some xAI employees contributed to fine-tuning Aurora, which is noted for its photorealistic capabilities but can produce flawed outputs, such as awkwardly blended objects or missing fingers.
The release of Aurora follows X's decision to make Grok free for all users, allowing them to send limited messages and generate images daily. Additionally, xAI recently closed a $6 billion funding round and is reportedly developing a standalone app for Grok, with plans for a new version, Grok 3, on the horizon.
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