Swae Lee rose from working at McDonald's to achieving multimillion-dollar success in the music industry through hard work, persistence, and genuine relationships. Starting with humble beginnings, his dedication and drive transitioned him from fast-food to platinum records and sold-out shows. Networking and building genuine connections played a crucial role in his career, helping him navigate the music industry and explore entrepreneurial ventures. Throughout his journey, Swae Lee's ability to adapt and stay focused on his goals enabled him to overcome challenges and reach significant career milestones.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Silicon Valley adjusts its approach to diversity, equity, and inclusion (DEI). Scale AI’s Alexandr Wang shifts focus from DEI to "merit, excellence, and intelligence," receiving mixed reactions. Elon Musk and others in the tech industry support this meritocratic view, while critics argue it neglects systemic barriers and social complexities. Some workers at Scale AI report low wages, highlighting underlying organizational issues.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Walmart will introduce digital price labels in 2,300 stores over the next two years to improve efficiency and ease for both customers and employees. These digital markers will replace paper tags but retain the "Everyday Low Prices" strategy. The digital labels will enable quick price updates and markdowns, and feature "Stock to Light" and "Pick to Light" functions for better restocking and order accuracy. This transition also aims to reduce operational waste and is part of Walmart's broader commitment to innovation. Walmart reported $161.5 billion in revenue for Q1 of fiscal 2025, a 6% increase from the previous year, highlighting the success of its global omni-channel retail strategy.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

This week, startups raised substantial funding with at least nine-figure deals. Sila Nanotechnologies led with $375 million to complete its plant in Washington for producing Titan Silicon anode material. Formation Bio raised $372 million to accelerate drug development using AI. CData Software secured $350 million for data connectivity solutions. Creatio raised $200 million to automate CRM and workflows, while Foodsmart raised $200 million to expand its telenutrition platform. Sidecar Health closed $165 million to improve healthcare accessibility. EvolutionaryScale raised $142 million to create novel proteins using a language model. Etched.ai raised $120 million for AI chips to train large models. Bright Machines raised $106 million for software-defined manufacturing, and Hebbia raised $100 million for AI-driven document search. LanzaJet secured $100 million for sustainable fuels technology.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Boston-based startup Eyebot secured $6 million to develop AI-powered kiosks for rapid 90-second vision exams, intending to simplify eye exams with prescriptions finalized by teledoctors. Provo, Utah’s Canary Speech raised $13 million to use AI-driven vocal analysis for screening mental health and neurological disorders. Bellevue, Washington-based Butterflies.AI obtained $4.8 million to create a social media platform for AI friends with profiles and emotions. Northern California’s Particle.News secured $10.9 million to partner with publishers for AI-enhanced news summaries, including a deal with Reuters. South Korea’s LDBCarbon received $28 million to recycle end-of-life tires into recovered materials, constructing Asia's largest tire pyrolysis plant.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Hebbia, a startup founded in 2020 by George Sivulka during his PhD at Stanford, has raised nearly $100 million in a Series B funding round led by Andreessen Horowitz, valuing the company between $700 million and $800 million. Hebbia uses generative AI to scan and search large volumes of documents, providing specific answers from sources like PDFs, PowerPoints, spreadsheets, and transcripts. The main clients include financial service firms such as hedge funds and investment banks, though the technology also suits law firms and other professional fields. This recent funding brings Hebbia's total capital to over $120 million, building on a $30 million Series A round in September 2022 led by Index Ventures and Radical Ventures.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Walgreens announced plans to close many underperforming stores nationwide. CEO Tim Wentworth cited the unsustainability of their current pharmacy model and stated they will evaluate 25% of their stores over the next three years, potentially closing up to 2,150 locations out of 8,600. The announcement followed a significant stock decline of over 24% after the company reported $36.4 billion in revenue for fiscal Q3 2024. Additionally, Walgreens faces a $2.7 billion bill from the IRS due to issues with transfer pricing from 2014 to 2017, which they plan to contest. Walgreens Boots Alliance's stock has dropped nearly 59% year over year.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

MagicSchool, a Denver-based AI startup, has secured $15 million in a Series A funding round led by Bain Capital Ventures to integrate AI tools in educational settings for both teachers and students. The funding will be used to advance their tools, acquire more customers, and hire more talent. Other investors include Adobe Ventures and Common Sense Media, with individual backing from Replit, Clever, and OutSchool. Founder Adeel Khan, who has a strong background in education, conceived MagicSchool in late 2022, aiming to create valuable AI tools for the classroom. The tools, currently used by around 4,000 teachers and schools, include lesson plans, quizzes, and materials for varying learning levels, mainly utilizing OpenAI APIs. Despite initial challenges in adoption due to fears around AI, the tools have been found to save time and assist with brainstorming and supplementary teaching. Khan highlights the importance of preparing students for a future where AI is integral and stresses the need for ethical and effective use of AI in education.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Nvidia's stock value has surged from $346 billion in January 2023 to $3.338 trillion in June 2024, growing by 3,000% over the past five years. This increase in stock value has turned many employees into millionaires. For example, a mid-level product manager receiving an average of $77,700 in stock annually in 2019 would now have over $1.6 million. An entry-level software engineer's stock could be nearly half a million dollars, while a senior solution architect might see $1.3 million, and a level four data scientist's initial stock grant would be $2 million. Nvidia aims to keep employees engaged despite their newfound wealth. CEO Jensen Huang has encouraged employees to take ownership of their work. Nvidia's strong company culture, emphasizing a team-oriented environment without politics or hierarchy, is a significant factor in employee retention according to an MIT assessment.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

OpenAI has significantly influenced the M&A and IPO markets, with notable acquisitions and rapidly growing revenue. Recently, OpenAI acquired search and analytics startup Rockset and video collaboration startup Multi. These deals mark a shift towards inorganic growth, essential for large tech companies. This quarter, M&A activity has slightly increased with over 430 deals, though still lower than in previous years. Additionally, AI chips startup Cerebras Systems filed for an IPO, reflecting rising interest in AI technologies, which has also seen Nvidia become highly valuable. Investors watch closely as AI companies may drive the re-opening of IPO and M&A markets, potentially leading to awaited returns.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

AI tools enhance productivity but expose firms to legal risks and ethical concerns. The integration of AI into workplace functions raises issues around unintended biases and data breaches, necessitating stringent guidelines and regulatory policies, especially in healthcare and finance. The debate over remote work and productivity continues, with tech firms like Google and Microsoft adopting hybrid models to balance flexibility and accountability. Startups in AI and biotech attract significant venture capital, particularly in medical diagnostics and treatment, reflecting investor confidence in tech-driven healthcare. The Federal Reserve's interest rate hike aims to curb inflation but challenges credit-dependent startups, prompting financial advisors to recommend reassessing funding strategies. Regulatory scrutiny in the crypto world intensifies, targeting unregistered exchanges and fraud, while legitimate firms work on compliance and transparency to gain trust and investment.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Low-priced Chinese electric vehicles might soon outpace American EVs through Mexican trade deals. Chinese carmakers setting up operations in Mexico could send inexpensive EVs into the United States, leading to potential factory closures and job losses in America. The U.S.-Mexico-Canada Agreement could allow these Chinese EVs to enter the U.S. with low or no tariffs, but customs officials and policymakers might take actions to prevent this. U.S. automakers face challenges such as higher EV prices and a scarcity of charging stations, leading to slowing sales. China currently leads in EV manufacturing, producing nearly 62% of the global total, compared to the U.S.'s 1 million units. The U.S. might block Chinese EVs on national security grounds, and President Biden has increased tariffs on Chinese EVs to 102.5% to deter their market entry.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Project Nimbus, a joint venture between Amazon and Google, provides cloud services to the Israeli government. It includes artificial intelligence and machine learning tools. Critics accuse the project of facilitating surveillance and military operations that may target Palestinian communities. Employees from both companies have protested, urging their employers to reconsider their involvement. They cite concerns over human rights violations. Amazon and Google officials defend Project Nimbus, claiming it adheres to proper compliance standards and aims to modernize Israel's technology infrastructure.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Synthflow, a startup from Berlin, secured $7.4 million in a seed round for its no-code AI voice assistance platform tailored for small businesses. Founded in spring last year, Synthflow has raised $9.1 million in total funding and reports approaching 1,000 customers with double-digit monthly growth since December 2023. The new funds will go towards R&D to enhance product utility and broaden its SME appeal. Synthflow's platform allows small businesses to automate tasks such as appointment scheduling and customer inquiries using a drag-and-drop interface, making AI accessible to non-technical users. Built on OpenAI’s GPT LLM, Synthflow’s AI models now support English, German, and French use cases. CEO Hakob Astabatsyan highlights the tool's ability to automate tasks affordably, freeing human resources for other activities and increasing productivity for various small businesses.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

AT&T's CEO John Stankey urges major tech companies, including Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla, to help subsidize U.S. internet and telephone access by contributing to the Universal Service Fund (USF). The USF, a federal program with a yearly budget of $8 billion, supports lower-income customers, rural residents, high-cost areas, and eligible schools and libraries. Currently, AT&T contributes a percentage of its revenues to the USF and transfers some costs to its customers through a Universal Connectivity Charge. AT&T's contribution rate has risen to 34.4%, according to Rhonda Johnson, AT&T's vice president of federal regulatory relations, who also suggested that tech companies benefiting from increased online activity should share in USF contributions.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Onehouse secures $35 million in Series B funding to improve its data lakehouse solution, designed for generative AI applications. Founded by Vinoth Chandar, Onehouse evolved from the Apache Hudi project at Uber and offers a data lake house that merges features of data warehouses and lakes for real-time data management and analysis. The funding will enhance Hudi's performance and reduce cloud storage costs. Major companies like Amazon, Disney, and Walmart have adopted Onehouse's technology. The company differentiates itself in the data management space by providing an open system that avoids vendor lock-in, essential for quality AI development.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The IRS issued an apology for the leak of thousands of tax documents, including those of billionaire Ken Griffin, which occurred between 2018 and 2020. The apology followed a lawsuit Griffin filed against the IRS in December 2022 over the unauthorized disclosure of his tax information by a contractor, Charles Littlejohn. Littlejohn, who shared the data with the press, received a five-year prison sentence. The IRS admitted to failing in preventing this breach and assured that it has made significant investments in data security to better protect taxpayer information. Griffin, with a net worth estimated at $42 billion, credited his team for securing an outcome aimed at enhancing the protection of American taxpayers.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Creatio, a Boston-based company specializing in no-code platforms for automating CRM and enterprise workflows, achieved unicorn status by securing a $200 million investment. Led by Sapphire Ventures and supported by StepStone Group, Volition Capital, and Horizon Capital, this investment values Creatio at $1.2 billion and aims to support global expansion and sustain its 50% annual revenue growth. CEO Katherine Kostereva stated that the funding would accelerate the company's mission to revolutionize enterprise software and enhance its technological capabilities. Additionally, Creatio has integrated AI with a generative AI copilot to automate various marketing and sales tasks, competing with industry giants such as Salesforce, Oracle, and SAP. Despite a slowdown in the low-code and no-code sector after its peak in 2021-2022, the rise of generative AI has revitalized interest in the space. Creatio, founded in 2014, had previously raised $68 million in 2021 in an investment round led by Volition Capital.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Nicole Taylor, president and CEO of the Silicon Valley Community Foundation, reveals key insights on philanthropy. In 2023, the foundation in Mountain View, California, saw its donations surge to nearly $4.6 billion from the previous year's $2.6 billion, driven by large donors. Predicting donor activity in 2024 remains challenging due to global and local factors. Donor-advised funds have broadened participation in philanthropy, allowing more people to contribute without creating private foundations. The foundation promotes donations through various issue area funds and moves contributions to a community fund if donors are inactive for over two years. It actively addresses racial justice through the California Black Freedom Fund, supporting legal education and advocacy. In Silicon Valley, tech, politics, and giving intersect, with donors from both political parties being particularly active around elections. The foundation emphasizes civic engagement and journalism to influence public participation. Technology plays a crucial role in enhancing civic engagement and combating disinformation.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

AI teammates transform work environments with tools that extend automation to complex functions. Mayfield Fund invests in AI-enabled tools for knowledge workers. Navin Chaddha, Mayfield's Managing Partner, promotes Cognition as a Service (CaaS) to enhance productivity, envisioning digital teammates for collaboration. He invested in NeuBird's Hawkeye, an AI assistant for IT teams. Chaddha, noted for early investments in Lyft, Poshmark, and HashiCorp, manages significant resources, including a $580 million Series A fund and a $250 million AI seed start fund. Mayfield invests across AI sectors, including semiconductor cooling, model safety, data engineering, and application layer solutions like LexCheck, Outreach, and Qventus.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

In 2024, the digital health sector faced slow growth but still attracted venture capital investments, particularly in AI-driven startups addressing administrative issues in U.S. healthcare. Notable companies include Abridge, automating medical records using AI and raising $150 million; CodaMetrix, automating medical coding with $40 million in funding; and Cohere Health, expediting insurance approval processes with $50 million raised. Grow Therapy and Equip provide mental health services and online eating disorder treatments, respectively, with significant investments. Maven offers diverse health services, targeting women and families, raising nearly $300 million. Memora Health and SmarterDx reduce administrative burdens through AI-based solutions, both securing substantial funding. Summer Health and Transcarent improve pediatric care access and employee health insurance savings, with notable investments in their growth.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Nvidia recently experienced a significant market decline, losing about $431 billion in market capitalization. This drop concerns the financial and tech sectors about the company's value stability. The downturn comes amid a broader market correction and raises questions about the sustainability of Nvidia's rapid growth. Nvidia, known for its high-performance graphics processing units, has been impactful in the AI and gaming industries, attracting substantial investor interest. The company reached a $3 trillion valuation due to strong earnings reports and future growth optimism in AI. However, the recent market movement suggests that some investors may be reassessing their positions due to broader economic concerns or potential overvaluation. Analysts remain divided on whether this is a temporary setback or indicative of more structural market issues, despite Nvidia's strong fundamentals and revenue growth.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Microsoft faces investigation in the EU over alleged monopolistic practices. The European Commission aims to determine if Microsoft engages in behaviors limiting competition within the software market. This investigation includes scrutinizing contracts, software bundling, and market dominance tactics. The Commission's inquiry responds to complaints from rivals claiming unfair competitive advantages. Microsoft experiences increased regulation challenges in multiple regions.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Fearless Fund's cofounder Ayana Parsons has resigned from her role as general partner and COO to "enjoy island life" with her family, announced in a LinkedIn post. Parsons cofounded the venture capital firm in 2019 with Arian Simone, who remains CEO. Fearless Fund focuses on financing, grants, and education for startups led by Black women, an underserved demographic that received less than 1% of all VC funding in 2023, amounting to 661 million dollars out of 136 billion. Fearless Fund has invested 26 million dollars in over 40 companies like Slutty Vegan and The Lip Bar. The fund faces a legal challenge from the American Alliance for Equal Rights, which argues that its grant program for Black women entrepreneurs violates the Civil Rights Act of 1866. An appeals court upheld a preliminary injunction against issuing these grants. Despite the legal challenges, CEO Simone reveals the fund has lost most partnerships except with JPMorgan and Costco. Parsons, in her LinkedIn post, reaffirmed her commitment to supporting women of color entrepreneurs, highlighting the rapid rate at which they are starting businesses but lacking access to capital.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The Biden administration announced plans to improve affordable housing access amidst high living costs. Treasury Secretary Janet Yellen stated that $100 million will support affordable housing financing over the next three years, involving the Federal Financing Bank in financing efforts. Home prices have risen by 46% from March 2020 to March 2024, impacting both homebuyers and renters. Sales of previously occupied homes fell for the third consecutive month in May due to high mortgage rates and prices. A shortage of over 7 million affordable homes affects more than 10.8 million extremely low-income families. President Biden and Donald Trump proposed different measures to reduce living costs. Economists predict housing issues may persist until the Federal Reserve lowers its 5.3% key interest rate. Yellen urged Congress to pass Biden's budget, which includes a tax credit for first-time homebuyers and plans to build over 2 million homes, along with converting empty office buildings into housing units.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

A major cyberattack on CDK Global Systems forced car dealerships across the country to revert to paper forms as they attempt to recover from mass outages. The attack hit the cloud-based software that manages backend financials, information on car sales, financing, repairs, and maintenance, affecting an estimated 15,000 car dealerships nationwide. Some operations of Ford and Kia were impacted, with interfaces hit by consecutive cyberattacks starting early Wednesday. The group responsible, believed to be based in Eastern Europe, demanded a ransom, and CDK allegedly considered paying it. CDK is actively engaging with customers to provide alternative business methods while conducting an internal investigation and cooperating with authorities. By Monday afternoon, restoration efforts were underway, with full restoration expected to take several days. CDK did not specify how many customers remained affected as of Monday afternoon.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Chift, a Belgium-based startup, raised €2.3 million ($2.5 million) in a seed round, backed by Entourage, Shapers, Seeder Fund, and business angels. Chift offers a unified set of APIs to help SaaS companies integrate seamlessly with various financial tools. Clients like Pennylane, Qonto, Agicap, Pleo, and Mollie use Chift to manage service integrations. The company provides APIs compatible with accounting software such as Sage, Cegid, and Pennylane, as well as invoicing software, e-commerce platforms, and point-of-sales systems. Chift addresses the fragmented fintech industry in Europe, where different countries use various accounting and invoicing platforms. By maintaining and developing integrations, Chift enables SaaS companies to focus on their core products and assists clients in expanding and upselling in new markets. Gauthier Henroz aims for Chift to lead the European market in integration services.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Funding for autonomous driving startups has surged significantly after a slow start to the year. From January to April, less than 800 million dollars was raised, but since May 1, nearly 2.7 billion dollars has been invested. Key deals include Wayve raising 1.05 billion dollars, General Motors investing 850 million dollars into Cruise, and Waabi securing 200 million dollars. These investments position the sector for its best year since 2021, with startups already raising nearly 3.5 billion dollars, surpassing last year's 5.7 billion dollars and 2022's 5.9 billion dollars.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The European Commission announced that Microsoft might have violated antitrust rules by bundling its Teams app with Office 365 and Microsoft 365 software, potentially restricting competition by not providing customers a choice. Concerns were raised that this practice could give Teams an unfair advantage over competing messaging apps by limiting their ability to integrate with Microsoft's software. Margrethe Vestager, the commission's Executive Vice President for competition policy, stressed the need for competition to foster innovation. Microsoft previously offered Teams-free software versions for European customers, yet these steps did not fully address the commission's concerns. Microsoft President Brad Smith expressed willingness to find solutions. The investigation began in July 2023 after complaints from Slack Technologies and Alfaview. Slack's parent company, Salesforce, viewed the EU's statement as a move towards restoring competition and innovation. Microsoft could face a fine of up to 10% of its annual global revenue or be required to implement remedies.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The Biden administration takes steps to address the housing supply crisis, including a $100 million fund to support affordable housing financing over three years. Treasury Secretary Janet Yellen outlines additional measures, such as enhancing the Federal Financing Bank's options for affordable housing and converting empty office buildings into housing units. Housing affordability emerges as a pressing issue amid a 46% increase in home prices from March 2020 to March 2024, coupled with rising financial pressures on homebuyers and renters. Sales of existing homes declined for the third straight month in May due to high mortgage rates and elevated prices, with a national shortage of over 7 million affordable homes reported. Yellen urges Congress to pass Biden's budget, which proposes a tax credit for first-time homebuyers and plans to build over 2 million homes, supported by $85 million from the Department of Housing and Urban Development to reduce barriers like zoning restrictions.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Emergence, a generative AI venture founded by ex-IBM leaders including Satya Nitta, raised $97.2 million and has credit lines exceeding $100 million to build a system for automating knowledge work using AI. The company focuses on developing AI agents capable of automating tasks like form-filling and searching for products online. Their first product, an orchestration agent, was recently open-sourced and designed to route tasks to the most suitable AI model. Emergence aims to commercialize this technology and has partnered with Samsung and Newline Interactive for integration into future products. The AI agent market is expanding with companies like OpenAI and Amazon participating, but Emergence differentiates itself through a strong emphasis on R&D and a team of experts from leading tech firms. Early versions of Emergence's products are already in use by tens of thousands of individuals.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Jack Dorsey, co-founder of Twitter, now X, predicts that within the next decade, distinguishing between reality and deepfakes will become exceedingly difficult, likening it to living in a simulation. He emphasized that in five to ten years, the uncertainty between real and fake will increase, making differentiation nearly impossible. Elon Musk, owner of X, reacted by suggesting we might already be in a simulated reality. Dorsey advised verification of information and stressed the importance of personal experience and evidence. He underscored being mindful of one’s digital footprint and called for more open-source AI models to enhance transparency, a viewpoint Musk endorses.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Klarity, an accounting startup based in San Francisco, raised $70 million in a Series B funding round led by Nat Friedman and Daniel Gross, with additional support from Scale Venture Partners, Tola Capital, Picus Capital, Invus Capital, and Y Combinator. The raised funds will be used to expand Klarity's workforce, tripling it to 390 employees within the year. Klarity employs AI to process data in contracts and internal records, eliminating the need for manual work. This trend of significant funding is also observed in other accounting tech firms like Ageras, FloQast, and DataSnipper, which have also secured substantial investment to automate accounting tasks using AI. AI-driven startups in other sectors, such as legal tech, are also attracting significant investment.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Alt meat startups experience decreased investor enthusiasm, resulting in harder-to-secure funding. Companies like Upside Foods, Believer Meats, and Good Meat previously attracted over $1.6 billion from 2021 to 2022, while plant-based firms like Impossible Foods and Beyond Meat also saw significant investments. Currently, large financing rounds for cellular meat and plant-based firms have declined in both frequency and size. The largest recent round, $100 million, went to Meati, which produces mycelium-based products, while Heura Foods, This, and Tender Food received smaller investments for various plant-based meats. No major funding rounds targeted lab-grown meat, likely due to technical, consumer, and regulatory challenges. Many alt protein startups may struggle and close, especially in the cultivated meat segment, due to difficult economics, but consumers still have ample plant-based meat options.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

The European Union has charged Apple with antitrust violations, focusing on its restrictive App Store policies that allegedly harm competition. The charges might lead to significant changes for app developers, potentially resulting in more freedom to use alternative payment systems and increased competition among app stores. The outcome of this case could influence how app stores worldwide operate, affecting both developers and consumers. Apple faces potential fines if found guilty, and the developments in this case will continue to impact the technology and app development sectors.https://greyjournal.net/news/apple-faces-eu-antitrust-charges-and-the-potential-effects-on-app-developers/ Hosted on Acast. See acast.com/privacy for more information.

The IRS will deny billions of dollars in claims for the Employee Retention Credit (ERC), a pandemic-era tax break for small businesses. The IRS found that 10% to 20% of the over 1 million claims totaling $86 billion were high-risk and will be rejected, while 60% to 70% of claims will undergo further examination. IRS Commissioner Danny Werfel emphasized denying improper claims while ensuring legitimate taxpayers receive their dues. The IRS processed 28,000 claims worth $2.2 billion and disallowed over 14,000 claims worth $1 billion. More than $2 billion in erroneous claims have been addressed, but 1.4 million unprocessed claims remain, many flagged as questionable. Taxpayers with pending claims can withdraw without penalties or interest.Learn more on this news visit us at: https://greyjournal.net/news/irs-crackdown-on-pandemic-era-small-business-tax-credits/ Hosted on Acast. See acast.com/privacy for more information.

Over 1100 STEM students boycott Google and Amazon due to concerns over these companies' contracts with U.S. government agencies, particularly those related to law enforcement and immigration. The students claim the projects contribute to unethical surveillance practices and support controversial policies. They demand that both companies terminate these contracts and redirect resources towards more ethical initiatives. The boycott receives attention from various academic institutions, leading to discussions about corporate ethics and the role of technology in society. These actions aim to influence tech giants' future policies, encouraging responsible and ethical business practices.https://greyjournal.net/news/why-over-1100-stem-students-are-boycotting-tech-giants-google-and-amazon/ Hosted on Acast. See acast.com/privacy for more information.

Harvey, an AI company specializing in legal tech, seeks $600 million in funding, potentially valuing the startup at $2 billion. This move underscores the rising influence of AI in the legal industry. Harvey's platform helps with legal document research and analysis, reducing repetitive tasks for lawyers. Despite a decrease in legal tech startup funding this year—from $871 million to $356 million—Harvey's funding could reverse this trend. Other notable AI-related legal tech fundings this year include Robin AI ($26.7 million), DraftWise ($20 million), and Spellbook ($19.6 million). Investor interest in AI for legal tech has been growing since last year, indicating a shift in the traditionally slow-to-adopt legal sector.https://greyjournal.net/news/legal-tech-funding-poised-for-major-shift-with-ai/ Hosted on Acast. See acast.com/privacy for more information.

Elon Musk proposes a significant compensation package, contingent on Tesla achieving ambitious milestones in market capitalization, revenue, and profit. The package spans over a decade, with Musk receiving substantial stock options if the targets get met. Tesla shareholders must vote on this historic payout plan. Analysts outline potential impacts on Tesla's growth, stock performance, and Musk's role within the company.https://greyjournal.net/news/elon-musks-high-stakes-gambit-will-tesla-shareholders-agree-to-the-historic-payout/ Hosted on Acast. See acast.com/privacy for more information.

Edtech funding in 2024 is experiencing a significant decline, with startups attracting just over $1 billion, the lowest in years. Annual investment and deal counts since 2019 indicate no rebound in the education space. U.S. investment mirrors this downward trend, and exit opportunities remain scarce with no notable IPOs or major acquisitions recently. Despite rising global enrollment and projected growth in edtech spending, investment success stories have been rare since 2021. That year saw IPOs of companies like Duolingo, Coursera, and Udemy, but only Duolingo performed well. Notably, India's BYJU’s, once highly valued, now faces significant issues and a steep valuation drop. Other unicorns like Unacademy and Guild also struggle for funding, though Vienna-based GoStudent has achieved profitability. Several startups secured over $20 million in 2024, indicating potential for a rebound driven by advancing AI capabilities and persistent educational challenges, but overall edtech investment levels remain low. Hosted on Acast. See acast.com/privacy for more information.

The U.S. Small Business Administration (SBA) plans to unveil new government-backed credit lines of up to $5 million for small businesses. This pilot program aims to provide more attractive working capital options than current SBA offerings, addressing ongoing challenges small businesses face in securing funds for infrastructure or expanding operations. The SBA’s broader efforts include guarantees through the 7(a) loan program, which backed over 57,000 loans worth $27.5 billion last year, though uptake on revolving credit lines has been lower than expected. The new product simplifies access to working capital with an annual fee, interest rates based on the prime rate plus 3% to 6.5%, and a 75% guaranty for loans over $150,000, and an 85% guaranty for smaller loans.Read More: https://greyjournal.net/news/discover-the-new-sba-credit-lines-for-small-businesses/ Hosted on Acast. See acast.com/privacy for more information.

In 2023, the proportion of U.S. venture capital funding directed to startups with at least one female founder increased to 25%, totaling $34.7 billion, up from 15% in 2022. This notable rise was driven by significant investments in AI startups, with prominent examples including OpenAI, which raised $10 billion, and Anthropic, which secured over $6.5 billion across multiple rounds. The AI sector received over half of its U.S. investments, amounting to $21 billion, in companies with female founders, although this figure was influenced by a few large deals. Among other AI unicorns receiving significant funding were Adept AI, Replit, and Imbue, all led by female founders. Steady progress has been made, and early-stage and seed funding rounds show higher participation of female founders. Despite the positive trend, female-only founded companies have remained flat at 3% in funding year-over-year, with female/male co-founded companies seeing a rise in 2023. Since 2021, annual investments in female-founded companies in the U.S. have consistently exceeded $30 billion, with a noticeable increase in late-stage deal counts. Hosted on Acast. See acast.com/privacy for more information.

Series A fundraising in 2024 sees higher investment standards and fewer startups successfully achieving this round. The median valuation step-up from seed to Series A rose from $19.5 million in Q1 2022 to $28.7 million in Q1 2024, with Series A firms now expecting $2 million to $3 million in annual recurring revenue, up from $1 million to $2 million. Only 12% of seed startups from Q1 2022 closed their Series A within two years, compared to 31.8% of Q1 2020 seed startups. Series A investors evaluate startups from 2021 to 2023, categorizing them into those with inflated valuations and those with modest seed rounds. Investment decisions often rely on trends in revenue performance and round pricing, leading to unrealistic expectations. This pattern, however, is temporary and should normalize over time, indicating that the current closure of many startups in Q1 2024 stems more from past investment behaviors than from economic factors like rising interest rates.https://greyjournal.net/ Hosted on Acast. See acast.com/privacy for more information.

Interest in SaaS startups is cooling, evidenced by a significant drop in funding from $17.4 billion last year to $4.7 billion so far this year, despite a slight rebound in overall U.S. venture funding. Publicly traded SaaS companies are also struggling, with notable declines in share prices and underperformance of the Bessemer Cloud Index, though some large financing rounds like Wiz's $1 billion Series E still occur. Hosted on Acast. See acast.com/privacy for more information.