“Entrepreneurship Weekly”: Big changes in AI heavyweights | TechCrunch

Welcome to Entrepreneurship Weekly — A weekly recap of everything you can’t miss in the startup world. Sign up here Get it delivered to your inbox every Friday.

I don’t have much news this week, but I’ve been doing a lot of preparation for the early stages of TechCrunch in Boston on April 25th.It’s going to be a great show, and You still have time to grab tickets at the early bird priceif you’re quick.

The most interesting startup stories of the week

Stability AI said goodbye to its founder and CEO Emad Mostaque, who decided to pursue his dream of decentralized AI, leaving the unicorn startup without a permanent CEO. The company, known for burning through cash faster than a teenager with his first debit card, is now run by interim co-CEOs Shan Shan Wong and Christian Laforte.Mostak made a dramatic exit, declaring to X that his departure was for Fighting the “Centralized Artificial Intelligence” Monster Because, apparently, the real problem with artificial intelligence is not rogue robots, but who controls them.

Microsoft orchestrated a Hollywood-worthy robbery, capturing its co-founder and most of its employees. Inflection AI and the right to use its technology, up to US$650 million. The deal, which looks more like a ransom than an M&A exercise to me, includes $620 million for the privilege of using Inflection’s technology and an additional $30 million to ensure that Inflection doesn’t sue Microsoft’s bold minds Microsoft board member and Inflection co-founder Reid Hoffman took to LinkedIn to assure everyone that Inflection investors will sleep well tonight, with early backers receiving 1.5x returns and later backers receiving A modest 1.1x return, although the math doesn’t quite add up yet. By the way, describing a 1.5x return as “good upside” is pretty bold – Most early stage funds would be very unhappy.

  • They say your data is safe: Facebook (now Meta) is caught red-handed Facebook’s covert operation, dubbed “Project Ghostbusters,” was designed to spy on Snapchat’s encrypted traffic in an attempt to decode user behavior and gain a competitive advantage.
  • Robinhood’s new credit card: Robin Hood Unveiled Gold CardThis card is so feature-rich that it might give Apple Card users pause for a moment. The price of becoming a Robinhood Gold member is very low (because who doesn’t want to pay $5 a month for spending privileges) More money? ), you can also earn 3% to 5% cash back.
  • Will Nvidia be the next AWS? : Nvidia and Amazon Web Services (AWS) might just be the tech world’s accidental heroes, stumbling upon their core businesses like a toddler discovering a hidden cookie. AWS found that it could sell its on-premises storage and compute services, and Nvidia found that it could sell its on-premises storage and compute services. Gaming GPUs are surprisingly well-suited for AI workloads.
Stable AI CEO resigns because “you’re not going to beat centralized AI with more centralized AI”

Stable AI CEO resigns because “you’re not going to beat centralized AI with more centralized AI.” Image Source: David Paul Morris/Bloomberg

Trending this week: Traffic issues

New York Stock Exchange gave Electric car launch Fisker launch, calling its stock price “abnormally low.” It seems that Fisker’s financial runway is more like a tightrope, with the stock price plummeting more than 28% in a single day. Bad deal with Nissan (or so the rumor mill thought), and triggering repayment clauses in loans they couldn’t afford – painted a picture of a company teetering on the edge of a cliff.Of course, it doesn’t help that electric car makers Millions of dollars worth of customer payment records lost.

  • Can the fragments of Arrival save Kanu? : bankrupt Arrival sells remainder to Canooanother electric-vehicle hopeful teetering on the edge of viability, the deal is less about innovation and more about Canoo desperately trying to cobble together a production line out of Arrival’s yard sale bargains.
  • Solway, everyone: Steve Burns, the founder, chairman and CEO of bankrupt electric vehicle startup Lordstown Motors, was ousted. Reached settlement with U.S. Securities and Exchange Commission Misled investors about demand for the company’s flagship all-electric Endurance pickup truck.
  • Let the car drive itself for a month: Tesla is about to start offering it to every customer in the U.S. One-month trial of $12,000 worth of driver assistance systemswhich it calls a full self-driving beta, provided they have a car with compatible hardware.
Canoo light tactical vehicle used by the U.S. Army

Canoo delivers light tactical vehicles in 2022. Image Source:Kanu

The most interesting fundraisers of the week

Super{set} is doubling down on boring but data-rich and AI-driven enterprise startups, just Added $90 million to its war chest.The move follows a $200 million exit from marketing firm Habu to LiveRamp. The company is not your average venture capital studio. With a streamlined portfolio of 16 companies and a passion for turning venture capital memo from art to science, super{set}’s mission is to design real-world applications. Their new office takes up an entire floor of San Francisco’s 140 New Montgomery building, and they’re investing not just in new startups, but in the future of the city itself.

Tired of cramped hotel rooms and a landlord who hated Ikea, Alex Chatzieleftheriou decided to fill the void himself. Fast forward to the pandemic-induced nomadic work boom, and Blueground is now gobbling up competition faster than free tourists. breakfast buffet. Through acquisitions of companies like Tabas and Travelers Haven, Blueground has expanded its empire to more than 15,000 apartments in 17 countries, proving there’s no better place to book a home than a month-long home. Although the real estate technology industry is feeling the pressure from rising interest rates, Blueground recently secured $45 million in Series D funding The huge debt financing shows that investors are still willing to bet big on Chatzieleftheriou’s vision that everyone can live in a self-contained apartment, at least temporarily.

Illustration of red car with loading rail on windshield.

Image Source: Lyudinka/Getty Images (modified by TechCrunch)

Other TechCrunch stories you can’t miss…

Every week, I always want to share a few stories with you that don’t fall into the above categories. It would be a shame if you missed them, so here are some random goodies for you:

  • Well, what? : Marissa Mayer’s startup Sunshine went from Silicon Valley’s next big thing to a pioneer in the world of… Manage contacts and share photosleaving the internet collectively scratching its head and wondering, “Is this it?”
  • Dude, where is your data? : Three years after hackers released a “coming soon” trailer, the personal details of 73 million AT&T customers have surfaced online. When AT&T plays the silent gamecustomers can only verify that their data was leaked like a dystopian DIY project.
  • Come on, Apple: In a move more gatekeeping than innovation, Apple has now canceled Beeper’s efforts to bring iMessage to Android users. An exhibition of how the Justice Department competes fiercely And maintain the exclusivity of the Blue Bubble Club.
  • Who needs privacy anyway: Glassdoor, the haven for anonymous company reviews, appears to have turned into a privacy nightmare Secretly add a user’s real name to their profilemaking “anonymous” the most ironic word in their dictionary.
  • Welcome to Spotify University: Not content with just dominating your music, podcasts and audiobooks, Spotify now Try paying attention to your brain cells with the latest e-learningbecause apparently, we all need another reason to never leave the Spotify ecosystem.

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