Podcasts about Lightspeed Venture Partners

In this episode of Building the Base, Hondo Geurts and Lauren Bedula reconnect with Cameron McCord, Co-Founder and CEO of Nominal, two years after his first appearance on the show (linked here). Drawing from his unique journey from submarine officer (484 days underwater) to defense tech entrepreneur, McCord discusses building software to accelerate testing and validation of mission-critical systems. He shares insights from his time at Anduril, Applied Intuition, and Saildrone, and how these experiences shaped Nominal's approach to modernizing test and evaluation processes. The episode concludes with exciting news that Nominal recently announced a $75 million Series B led by Sequoia Capital and co-led by Lightspeed Venture Partners.Five key takeaways from today's episode:Entrepreneurial success, according to McCord, requires falling in love with the process itself rather than just the initial idea, as markets, technology, and competition will force constant adaptation and iteration throughout the journey.Testing and validation software in defense hasn't been meaningfully innovated in decades, McCord explains, creating massive opportunities to modernize from "2002 to 2019" standards using basic automation and data practices before advancing to AI capabilities.The most valuable customer conversations, McCord notes, evolve from incremental efficiency gains at the engineer level to strategic business impact discussions about reducing 24-month test campaigns to 18-20 months for major defense programs.Rather than leading with confidence, McCord advises asking genuine questions to allow customers to reveal what's truly valuable to them, while learning when to say "not right now" instead of forcing poor fits often leads to higher revisit rates.Cross-functional experience across military service, government, startups, and venture capital has provided McCord with invaluable perspective for navigating complex stakeholder environments and understanding what success looks like from multiple viewpoints.

What is the future of AI in the workplace? What kinds of jobs would you trust an AI to do? In this episode of Generative Now, host and Lightspeed Partner Michael Mignano explores how AI is transforming the workforce, with insights from four sharp thinkers: Semil Shah, founding general partner at Haystack and Lightspeed Venture Partners, on the risks of replacing junior talent with agents, Suno Co-founder Mikey Schulman on AI's power to unlock creativity, Anu Atluru, founder, physician and angel investor, on how AI is reshaping medicine, and Marissa Mayer, former CEO of Yahoo and current CEO of Sunshine, on what companies must do now to adapt—or risk being left behind.Episode Chapters00:00 Introduction: AI and the Future of Work00:20 Exploring AI's Impact on the Workforce01:14 The Co-Pilot Phase of AI02:47 AI in Investment Banking and Consulting06:00 Artificial Super Intelligence: The Next Frontier09:33 Mikey Shulman on AI's Role in Creativity11:59 Anu Atluru on AI Transforming Medicine20:18 Marissa Mayer on AI's Organizational Impact26:56 Conclusion: Embracing AI's PotentialStay in touch:www.lsvp.comX: https://twitter.com/lightspeedvpLinkedIn: https://www.linkedin.com/company/lightspeed-venture-partners/Instagram: https://www.instagram.com/lightspeedventurepartners/Subscribe on your favorite podcast app: generativenow.coEmail: generativenow@lsvp.comThe content here does not constitute tax, legal, business or investment advice or an offer to provide such advice, should not be construed as advocating the purchase or sale of any security or investment or a recommendation of any company, and is not an offer, or solicitation of an offer, for the purchase or sale of any security or investment product. For more details please see lsvp.com/legal.

Moritz joins Google to talk about the intersection of gaming and AI. A lifelong gamer, Moritz spent his teenage years competitively playing Blizzard's Diablo 2, culminating in a #1 global ranking among over 12 million players in 2003. The first in his family to graduate high school, he traded the digital swords and armor that he earned in-game to afford his college tuition – two decades before digital asset trading entered the mainstream. Now, Moritz is a Senior Partner and the Head of Gaming and Interactive Media at Lightspeed Venture Partners. Lightspeed is a global venture capital firm with more than $29 billion in assets under management and over 200 exists across the US, Europe, and Asia. In both 2023 and 2024, founders selected Lightspeed as the #1 lead investor in the gaming industry. Moritz has been recognized in Forbes 30 Under 30, Capital's 40 Under 40, and the World Economic Forum's Young Global Leaders. In his personal time, he's an avid Ironman and Ultramarathon athlete. He's completed the World Marathon Challenge, running 7 marathons on 7 continents in 7 days, and the 257km Marathon des Sables. With his races, he has raised over $250,000 for research to cure depression. Watch this episode at youtube.com/TalksAtGoogle.

Instead of our usual Friday news rundown, we're bringing you a conversation from this week's TC Sessions: AI event out in San Francisco. Our friend and co-host Max Zeff sat down with Jared Kaplan, Co-Founder and Chief Science Officer at Anthropic. If you've been following Anthropic, you'll know it's been a busy year for the AI startup. Back in March, the company announced it raised $3.5 billion at a $61.5 billion valuation in a round led by Lightspeed Venture Partners. Since then, it's launched a blog for its Claude models and, according to Bloomberg reporting, partnered with Apple to power a new “vibe-coding” software platform. Listen to the full conversation to hear more about: ⁠Who has direct access to Claude's AI models⁠, Windsurf's response, and how it all ties into Anthropic's broader goals around openness, safety, and sustainability. The company's pivot away from chatbots and toward agentic AI systems that can perform real tasks. How internal tools like Claude Code are shaping the future of AI-powered development. What it means to build AI that enterprises can actually trust, and how that affects the way humans interact with software, work, and each other. Equity is TechCrunch's flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday. Subscribe to us on⁠ Apple Podcasts⁠,⁠ Overcast⁠,⁠ Spotify⁠ and all the casts. You also can follow Equity on⁠ X⁠ and⁠ Threads⁠, at @EquityPod. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We'd also like to thank TechCrunch's audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Apple's forced policy shift following the outcome of its legal battle with Epic Games has opened the door for more flexible Direct to Consumer (DTC) strategies, and game studios are taking notice. Host Devin Becker welcomes Chris Faught, CEO of Neon, to break down what this decision means for developers. Chris clarifies the broader implications of the ruling, the mechanics of implementing DTC models, and how this update impacts developers operating across different genres and regions.The conversation explores how studios should be thinking about DTC integration internally, what practical steps to take next, and how these changes might alter monetization strategies moving forward. Chris also offers insight into how webshops can be used to their full potential, what teams are best suited to act quickly, and where the market is headed over the next 12–24 months. Whether you're already experimenting with DTC or still figuring out how this ruling affects your business, this episode offers a grounded look at what's changing and what to do about it.We'd like to thank Overwolf for making this episode possible! Whether you're a gamer, creator, or game studio, Overwolf is the ultimate destination for integrating UGC in games! You can check out all Overwolf has to offer at https://www.overwolf.com/.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming & interactive media practice, the firm invests from an over $6.5 billion pool of early and growth-stage capital. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co.Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

In this episode, host, Alexandra Takei, Director at Ruckus Games, dives into the intersection of brand marketing, live streaming, and culturally relevant branded experiences. Joined by Wiktoria Wójcik, co-founder of InStreamly, the conversation explores how brands can integrate into live streaming platforms like Twitch, YouTube, and Kick. InStreamly connects brands with thousands of streamers, facilitating authentic collaborations through technology that allows for large-scale, interactive campaigns. Wójcik shares insights on bridging the gap between brand safety and engaging streamers, as well as the power of parasocial relationships in gaming. They discuss case studies with big brands like Cheetos and Danone, showcasing how live streaming is reshaping marketing strategies, from contextual gameplay to driving brand affinity. It's a must-listen for anyone interested in the evolving world of influencer marketing or those interested in partnering with a contextual marketing agency in the United States. We'd like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.We'd also like to thank nSure.ai! As a proven industry leader, nSure.ai provides scalable payment fraud prevention that's not just effective but tailored specifically to your needs. To learn more, visit https://www.nsure.ai/contactIf you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Before Zscaler was a $32B cloud security giant, it was just 10 engineers—half in Bangalore, half in a borrowed U.S. office.As founder and CEO of Zscaler, Jay Chaudhry bet $50M of his own money on one radical idea: secure the internet in the cloud.Born in a Himalayan village with no electricity, he built Zscaler into one of the world's top cybersecurity giants.In this episode, Jay breaks down why 50% of the Fortune 500 trusts Zscaler, why he still interviews candidates, and how he's incubating the company's next big AI bet.Chapters:00:00 Trailer00:42 Introduction01:21 His fifth company04:26 Entrepreneurs' existential fear10:53 Customer engagement and new innovations12:46 No private jets, no business class19:34 “I never used money”23:38 Born and raised in India26:17 Hiring legends30:35 Walking on water35:09 “Dolphining”39:55 Areas of weakness42:11 Passionate even on the weekends44:56 Work during roller coasters47:35 The weight of the world is on your shoulders49:21 Leveraging AI56:20 OutroMentioned in this episode: Elon Musk, Microsoft, Bill Gates, BlackBerry, Steve Ballmer, Satya Nadella, Hewlett-Packard (HP), IBM, John Fellows Akers, Steve Jobs, NeXT, Inc., Linux, Cisco, United Airlines, San Francisco International Airport, Sundar Pichai, Ravi Mhatre, Lightspeed Venture Partners, Six Flags, AI (artificial intelligence), securityLinks:Connect with JayLinkedInConnect with JoubinXLinkedInEmail: grit@kleinerperkins.com Learn more about Kleiner Perkins

Butian Li is CEO of Bless, pioneering the world's first shared computer—a decentralized network where everyday consumer devices power the internet. Under his leadership, Bless is reshaping internet infrastructure by enabling laptops, smartphones, and tablets to contribute their compute power collectively.Bless' first-generation product, Tap Compute, allows users to seamlessly share their device's computing resources through a web browser, supporting AI inference, data processing, and web hosting. By decentralizing these essential services, Bless is shifting control away from large corporations with massive data centers and back into the hands of everyday people.A seasoned entrepreneur and investor, Butian's expertise spans technology, finance, and strategic growth. He was previously COO of Wabi (Binance ‘17), an Investor at Lightspeed Venture Partners and NGC Ventures, and Founding Partner of Access Crypto hedge fund. His early career includes management consulting at Deloitte Consulting, where he advised Fortune 500 companies on IPOs and M&A transactions.Butian holds an undergraduate degree in Engineering from UC Berkeley and an MBA in Quantitative Finance from Wharton.Previous media features:Universal Basic Compute can Combat the Future AI Divide 

Butian Li is CEO of Bless, pioneering the world's first shared computer—a decentralized network where everyday consumer devices power the internet. Under his leadership, Bless is reshaping internet infrastructure by enabling laptops, smartphones, and tablets to contribute their compute power collectively.Bless' first-generation product, Tap Compute, allows users to seamlessly share their device's computing resources through a web browser, supporting AI inference, data processing, and web hosting. By decentralizing these essential services, Bless is shifting control away from large corporations with massive data centers and back into the hands of everyday people.A seasoned entrepreneur and investor, Butian's expertise spans technology, finance, and strategic growth. He was previously COO of Wabi (Binance ‘17), an Investor at Lightspeed Venture Partners and NGC Ventures, and Founding Partner of Access Crypto hedge fund. His early career includes management consulting at Deloitte Consulting, where he advised Fortune 500 companies on IPOs and M&A transactions.Butian holds an undergraduate degree in Engineering from UC Berkeley and an MBA in Quantitative Finance from Wharton.Previous media features:Universal Basic Compute can Combat the Future AI Divide 

Rami Tamir is no stranger to the startup world. A seasoned entrepreneur with multiple successful exits, he has honed his ability to build, scale, and navigate acquisitions like a veteran baseball player hitting home runs with each venture. Rami's latest venture, Salto, has attracted funding from top-tier investors like Bessemer Venture Partners, Accel, Lightspeed Venture Partners, Salesforce Ventures.

After building his career as an engineer at Facebook and as a venture capitalist at Lightspeed Venture Partners, Jay Madheswaran and his cofounders spotted an opportunity to deploy cutting-edge AI to transform what they saw as an underserved segment of the legal market, launching Eve, an AI platform purpose-built for plaintiffs' law firms. Eve has quickly gained traction, recently securing a $47 million Series A round led by Andreessen Horowitz, and boasting 800% year-over-year growth.  But what makes Eve's story particularly interesting is its mission to transform traditional plaintiffs' firms into what Madheswaran calls "AI-native law firms" – where technology does not just automate tasks but fundamentally changes how legal services are delivered, in part by encoding firms' unique knowledge and processes into intelligent systems. In today's episode, Madheswaran joins host Bob Ambrogi to explain his concept of AI-native law firms and describe how Eve's technology can help firms double or triple their caseloads by automating everything from case-intake analysis to document drafting, all while learning to work in each firm's unique voice and style.  He also discusses the challenges of building trust with lawyers around AI and his vision for increasingly specialized legal services in an AI-powered future.   Thank You To Our Sponsors This episode of LawNext is generously made possible by our sponsors. We appreciate their support and hope you will check them out.   Paradigm, home to the practice management platforms PracticePanther, Bill4Time, MerusCase and LollyLaw; the e-payments platform Headnote; and the legal accounting software TrustBooks. Briefpoint, eliminating routine discovery response and request drafting tasks so you can focus on drafting what matters (or just make it home for dinner). LEX Reception, Never miss a call, with expert answering service for Lawyers. Legalweek, March 24-27, New York Hilton Midtown. Register today at legalweekshow.com.    If you enjoy listening to LawNext, please leave us a review wherever you listen to podcasts.  

In this episode, host, Alexandra Takei, Director at Ruckus Games, is joined by Jacob Rapoport (CEO and Co-Founder) and Nico Vereecke from Evil Plan to discuss their groundbreaking project in AI-powered, unscripted fantasy entertainment. The conversation explores the future of interactive storytelling, where community influence and fully AI-driven narratives combine to create an entirely new genre of entertainment. Jacob and Nico express their belief in AI's potential to address the “cost problem” of new IP (i.e., significant upstart capital for uncertain returns) and the “manpower problem” (limited hours available each day) that contributes to content shortages. They explain how their company is developing a platform for dynamic, emergent storytelling. With AI at its core, Evil Plan seeks to transform how stories are created, allowing audience participation to play a crucial role in shaping the outcomes of plots and sub-plots, resulting in both unpredictable drama and interactive experiences. If you're a fan of community-driven entertainment phenomena like Twitch Plays Pokémon, Bandersnatch, Genvid's MILEs, or Blaseball, this is a conversation worth exploring. You can also check out our content coverage on Genvid and Blaseball on our website.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Eric and Madeline unpack the biggest “deal that wasn't” story of Elon Musk's unsolicited offer to purchase OpenAI for $97.4 billion. WIth Sam Altman flat-out rejecting the offer on X, this feels less like an offer and more of a statement about Musk's frustration with OpenAI's continued conversion to a for-profit company that competes with him. Pressures have been mounting on engineers to look for greener pastures, though, if Thrive Capital's Joshua Kushner's urging speech for talent to stay put is any indication. Then, they turn to Eric's reporting on Lightspeed Venture Partners' new fundraising documents, where the megafirm showed stronger returns on earlier funds ahead of its next big capital raise. They also unpack the AI Action Summit's 180-degree swing from an AI safety forum to a conference dominated by CEOs and accelerationist world leaders. They close with a breakdown with a who's who on the cap table of legal-tech Harvey's latest Series D, and Mercury's rumored new Sequoia-backed fundraise.Produced by Christopher GatesMusic by Suno

Eric and Madeline unpack the biggest “deal that wasn't” story of Elon Musk's unsolicited offer to purchase OpenAI for $97.4 billion. WIth Sam Altman flat-out rejecting the offer on X, this feels less like an offer and more of a statement about Musk's frustration with OpenAI's continued conversion to a for-profit company that competes with him. Pressures have been mounting on engineers to look for greener pastures, though, if Thrive Capital's Joshua Kushner's urging speech for talent to stay put is any indication. Then, they turn to Eric's reporting on Lightspeed Venture Partners' new fundraising documents, where the megafirm showed stronger returns on earlier funds ahead of its next big capital raise. They also unpack the AI Action Summit's 180-degree swing from an AI safety forum to a conference dominated by CEOs and accelerationist world leaders. They close with a breakdown with a who's who on the cap table of legal-tech Harvey's latest Series D, and Mercury's rumored new Sequoia-backed fundraise.Produced by Christopher GatesMusic by Suno

Keychain, the AI-powered manufacturing platform transforming the consumer packaged goods (CPG) industry, has announced an additional $5 million investment led by Bright Pixel Capital, the VC arm of the European retail conglomerate Sonae. This latest funding comes as Keychain takes its core search and discovery product out of beta and introduces new platform capabilities. Since November 2023, Keychain has raised $38 million with support from leading venture firms BoxGroup, Lightspeed Venture Partners, and SV Angel as well as other CPG giants General Mills, The Hershey Company, and Schreiber Foods. This latest investment from Bright Pixel not only reinforces Keychain's position as a key player in the CPG manufacturing ecosystem but also signals its readiness to enter the European market. Keychain's AI-powered platform, which enables brands, retailers, and manufacturers to quickly connect with manufacturing partners, is streamlining what has traditionally been a fragmented and time-intensive search and discovery process. The platform boasts a network of 30,000+ manufacturers and 20,000+ brands and retailers and, as of today, is now facilitating over $1 billion in projects each month. Now, with its search and discovery platform officially exiting the beta phase, Keychain is expanding its capabilities with the launch of two new beta products: Keychain packaging and ingredients. These products will allow brands to streamline the process of sourcing packaging materials and ingredient suppliers for their products, empowering them to quickly meet consumer demand for more sustainable and efficient production methods. "Since Keychain launched last year, we've been focused on bringing much-needed transparency to the United States' CPG manufacturing ecosystem," said Oisin Hanrahan, Co-founder and CEO of Keychain. "At the same time, we've been looking into how we can bring our capabilities to other geographies, and the support of Bright Pixel is a huge step in that direction. We're also excited to continue building our depth with new tools that will streamline the ways brands source packaging and ingredients." "We're proud to invest in Keychain at such an exciting moment in their journey," said Manuel Queiroz, Director at Bright Pixel Capital. "Our team is confident in Keychain's ability to modernize the global CPG supply chain and is exactly what the European CPG supply chain needs. We look forward to supporting Keychain as they expand their offerings and into more geographies." Bright Pixel's strategic investment marks a pivotal step in Keychain's evolution and underscores the platform's potential to bring meaningful change to the global manufacturing industry. Keychain is bringing a new era of transparency to the CPG manufacturing ecosystem by cutting out brokers who have historically profited by creating information asymmetry that drives up the costs of goods. In response, Keychain is using AI to eliminate these fees and other unnecessary costs, ultimately lowering the prices consumers see on store shelves. See more stories here.

Wie kommst du von Software Idee zu ersten Nutzern und Kunden ohne dich zu verzetteln?Marc Klingen baut mit seinem Team Langfuse. Langfuse ist eine Open-Source Software für die Entwicklung von Tools basierend auf Large Language Models (LLMs).Mehr als 4 Millionen Dollar haben unter anderem Y Combinator, La Famiglia und Lightspeed Venture Partners in das Berliner Startup investiert.Aus Berlin heraus bedient das Langfuse Team Kunden in der ganzen Welt und unser Gast Host Mike Mahlkow (2-facher Y Combinator Gründer) spricht mit Marc über den Aufbau der Firma.Du erfährst alles über die Herausforderungen der frühen Produktentwicklung, wie man erste Kunden gewinnt, warum Geschwindigkeit wichtiger ist als Perfektion und wie man aus Feedback iteriert, um echten Mehrwert zu schaffen. Was du lernst:Wie Langfuse Unternehmen wie Khan Academy, Twilio und Merck hilft, ihre LLM-Anwendungen effizienter zu entwickeln und zu testen.Warum der Fokus auf Geschwindigkeit und ein kleiner Scope in der frühen Phase entscheidend sind.Wie man Champions und Economic Buyer in großen Unternehmen identifiziert und mit ihnen arbeitet.Warum es wichtig ist, Kundenfeedback strukturiert zu nutzen und iterativ zu arbeiten.Wie Open-Source-Ansätze und Partnerschaften helfen können, Nutzer zu gewinnen und zu skalieren.Welche Unterschiede es gibt, wenn man an Startups vs. Enterprise-Kunden verkauft und wie man sich darauf vorbereitet.ALLES ZU UNICORN BAKERY:https://zez.am/unicornbakery Mehr zu Marc:LinkedIn: https://www.linkedin.com/in/marcklingen Website: https://langfuse.com/ Mehr zu Co-Host Mike:LinkedIn: https://www.linkedin.com/in/mikemahlkow/ Website: https://fastgen.com/ Join our Founder Tactics Newsletter:2x die Woche bekommst du die Taktiken der besten Gründer der Welt direkt ins Postfach:https://www.tactics.unicornbakery.de/ Kapitel:(00:00:00) Welches Problem löst Langfuse(00:11:17) Von Idee zu ersten Kunden(00:21:54) Kunden von der Nutzung überzeugen(00:25:18) Der AHA-Moment bei Langfuse: Hallo, User 1!(00:37:56) How to: An größere Unternehmen verkaufen (B2B & Enterprise Sales)(00:48:06) Die Relevanz von Mehrwert & Nutzen: Beispiel Figma(00:51:35) How to: von 1 auf 10 Nutzer skalieren(00:58:42) Unterschied zwischen B2B und B2C-Produkten(01:00:39) Wann sollte man aufhören?(01:08:36) How to: von 10 auf 100 Nutzer skalieren(01:18:25) ... doch was, wenn ich viel länger bauen muss? Hosted on Acast. See acast.com/privacy for more information.

The intersection of anime, games, and technology takes center stage in this episode. Host Aaron Bush is joined by Kun Gao, a serial entrepreneur known for co-founding Crunchyroll, the world's leading anime streaming platform, and now charting new paths in the games industry with GGWP, an AI-driven moderation platform, and Forge, which is enabling direct-to-consumer loyalty programs for games teams. In this conversation, we explore the many lessons Kun learned from scaling Crunchyroll and navigating high-profile dealmaking with IP companies and stakeholders like The Chernin Group and Sony. We then dive into the founding stories of GGWP and Forge, unpack the big ideas behind both companies, and dig into how more interconnected loyalty programs can empower game developers to create deeper, more valuable connections with their players. This episode is packed with insights into Kun's entrepreneurial process, so make sure to tune in!We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co.Who's On:Guest - Kun Gao: https://www.linkedin.com/in/kungao/ Host - Aaron Bush: https://www.linkedin.com/in/aaron-bush-846b8185/ Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Think marketing to developers is all about hoodies and hackathons? Think again. As the developer-led economy is poised to grow to a TRILLION dollars, companies that offer products for developers must refocus to a business-to-developer (B2D) model as developers become not only users of products, but key purchase influencers. In this episode, Nnamdi Iregbulem, Partner at Lightspeed Venture Partners, Joyce Lin, Head of Developer Relations at Viam, and Caroline Lewko, CEO of Revere Communications, reveal actionable insights for building and scaling developer relations programs that drive adoption, loyalty, and growth in a developer-led economy. Specifically, you'll learn:How to get developers to adopt and build on your platform – from APIs and SDKs to advanced ML and DevOps tools.What it takes to deliver an exceptional Developer Experience (DX) – aligning marketing and product teams to meet the unique needs of developers.Key ingredients of a winning Developer Relations program – from onboarding to advocacy and retention.How to stand out through community engagement – turning developers into loyal evangelists for your platform.Resources Mentioned:Nnamdi Iregbulem -https://www.linkedin.com/in/nnamdiiregbulem/Joyce Lin -https://www.linkedin.com/in/joyce-lin/Caroline Lewko -https://www.linkedin.com/in/carolinelewko/Lightspeed Venture Partners | LinkedIn -https://www.linkedin.com/company/lightspeed-venture-partners/Lightspeed Venture Partners | Website -https://lsvp.com/Viam | LinkedIn -https://www.linkedin.com/company/viaminc/Viam | Website -https://www.viam.com/Revere Communications - https://www.reverecommunications.com/Tyler Jewell's research on developer-led markets -https://tylerjewell.substack.com/p/the-developer-led-landscape-20-08-28Stack Overflow Developer Survey -https://survey.stackoverflow.com/2024/GitLab's “Everyone Can Contribute” philosophy -https://gitlab.com/“Developer Relations: How to Build and Grow a Successful DevRel Program” by Caroline Lewko and James Parton - https://www.devrel.agency/bookThis episode is brought to you by:Leverage community-led growth to skyrocket your business. “From Grassroots to Greatness” by author Lloyed Lobo will help you master 13 game-changing rules from some of the most iconic brands in the world — like Apple, Atlassian, CrossFit, Harley-Davidson, HubSpot, Red Bull and many more — to attract superfans of your own that will propel you to new heights. Grab your copy today at FromGrassrootsToGreatness.com.Each year the US and Canadian governments provide more than $20 billion in R&D tax credits and innovation incentives to fund businesses. But the application process is cumbersome, prone to costly audits, and receiving the money can take as long as 16 months. Boast automates this process, enabling companies to get more money faster without the paperwork and audit risk. We don't get paid until you do! Find out if you qualify today at https://Boast.AI.Launch Academy is one of the top global tech hubs for international entrepreneurs and a designated organization for Canada's Startup Visa. Since 2012, Launch has worked with more than 6,000 entrepreneurs from over 100 countries, of which 300 have grown their startups to seed and Series A stage and raised over $2 billion in funding. To learn more about Launch's programs or the Canadian Startup Visa, visit https://LaunchAcademy.ca.Content Allies helps B2B companies build revenue-generating podcasts. We recommend them to any B2B company that is looking to launch or streamline its podcast production. Learn more at https://contentallies.com.#DeveloperRelations #BusinessToDeveloper #B2D #Product #Marketing #Innovation #Startup #GenerativeAI #AI

Writing and directing for transmedia is an often overlooked part of world building in video games, but as consumers it is one of the most memorable elements of any game we play. Our host, David Taylor sat down with Neel Upadhye, a creative powerhouse who has left his mark on some of the most iconic franchises in gaming. From shaping the lore of Star Wars: The Old Republic and Battlefield 2042 to crafting Stories from the Outlands for Apex Legends, Neel's work has been viewed tens of millions of times, defining what it means to merge storytelling with gameplay. In this episode, we explore Neel's journey through the gaming industry, dive into his creative process, and what the future holds for transmedia storytelling.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co.Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

If a team hasn't built a minimum viable product, secured paying customers, or demonstrated strong unit economics, what exactly are seed-stage investors betting on? To get some answers, I sat down with Nnamdi Iregbulem, a partner at Lightspeed Venture Partners, to discuss what drives seed valuations, the traits of successful founders, and his perspective on AI startups. “A lot of the pitches that I get are basically two people, a PowerPoint deck, and their dog,” Nnamdi told me during our conversation in October 2024. Nnamdi shared his journey from coding as a kid to investment banking at JP Morgan, growth-stage investing at Iconiq Capital, and now helping early-stage founders at Lightspeed. He explains why seed valuations often reflect the opportunity cost of the founding team more than traditional factors like interest rates or public market comps, and highlights the rising costs of GPUs and AI talent as critical considerations. We also explored the traits that set exceptional founders apart — like strong domain expertise, adaptability, and demonstrated excellence — and why inference-based AI startups may have an edge over those focused on training new models. For aspiring VCs, Nnamdi offers practical advice on developing domain expertise, building a network, and honing the skills needed to evaluate companies effectively. Whether you're a founder, investor, or simply curious about the startup ecosystem, this episode is packed with actionable insights.   RUNTIME 33:24 EPISODE BREAKDOWN (2:24) “ I was the first-born son of two Nigerian immigrants who really badly wanted me to be a doctor.” (6:17) “ I was sort of like, ‘what do I know about early-stage companies?' I never worked in a startup.” (8:50) The day-to-day work Nnamdi does with the founders in Lightspeed's portfolio. (11:13) He explains why seed valuations aren't valuations. (13:31) “ The only characteristic… that had any real predictive value was the opportunity cost of the founder.” (16:43) “ Coming from a large and stable big tech company is not the positive signal that it used to be.” (17:32) The weights and measures he uses to assess seed-stage founders. (19:33) When domain expertise is (and is not) useful. (20:53) How he evaluates technical vs. non-technical founders. (24:16) “A lot of the pitches that I get are basically two people, a PowerPoint deck, and their dog.” (25:18) How to pitch Nnamdi directly. (26:21) Setting valuations is “ more driven by the founders than it is by us.” (29:33) His advice for anyone who wants to break into venture capital. LINKS Nnamdi Iregbulem Seed Valuations Aren't Valuations, whoisnnamdi.com email Nnamdi Lightspeed Venture Partners SUBSCRIBE

A new frontier is emerging with the advent of "web shops," also known as direct-to-consumer distribution methods. Alexandra Takei, Director at Ruckus Games, sits down with Chris Faught, the CEO and founder of Neon, a direct-to-consumer payments service currently working with Space Ape, Metcore, and Theorycraft to build customizable web shops and geography-specific payment systems, challenging the traditional distribution models of Apple and Google. We explore the evolving landscape of mobile regulations, contextualize the current payment stack in gaming, and break down what it means to be “the merchant of record.” The discussion highlights what major publishers and game studios have done since the iOS and Android distribution shake-up that began with Epic's lawsuit against Apple in 2021. Additionally, we dig into the nuances of why a direct-to-consumer webshop is about more than just increasing profitability. For any studio, investor, or revenue strategist interested in optimizing margins and considering a shift to a direct-to-consumer webshop, this episode is a must-listen.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

What is culture, and why does it matter? Seth Sivak, the founder and ex-CEO of Proletariat, a studio most known for its title Spellbreak, joins our host, Alexandra Takei, Director at Ruckus Games, to discuss the importance of organizational culture in the gaming industry. Proletariat was founded in 2012 by Seth and four other co-founders and went through various era of growth: scaling up to 80 people in person, 130 people remote during the pandemic, everyone brought back in person again, and then a sale to Blizzard Entertainment in the summer of 2022 with subsequent culture merging afterward. We discuss the definition of culture, who is responsible for setting it, who is responsible for maintaining it, as well as tactics to create a shared vision and shared set of norms, habits, and standards. If you are curious about what supercharges a successful game and business, this is a conversation that illuminates the balance between transparency and employee focus, how to build an effective communication decorum that scales, and why spending time on your company culture does not detract from building your product and business, but if done right, enhances and augments success.   We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

If you are into fantasy sports, Dream 11 is a household name. Boasting over 220M active users, it is one of the most popular fantasy sports platforms in the world. But what you might not know is that Dream 11 is just one part of the Dream Sports Group, which aspires to be a full 360 sports experience beyond fantasy (including merchandise, travel, streaming, live experiences, and, of course, video games).Rohit Gupta, Founder and CEO of Dream Games Studios, joins our host, Alexandra Takei, Director at Ruckus Games, for a discussion about innovation and growth in the sports video game industry with a specific eye towards Cricket and India. Their most recent game, Dream Cricket, aims to be the most authentic and realistic cricket game in the market. But what makes a good cricket game, and can you create a blockbuster cricket video game akin to Madden for the Indian market? What advantages are there to building in public, and what are the challenges in the licensing (name, image, and likeness) across the pro cricket space? What is the macro positioning for the sports video game market, and how has Dream Sports Group organized itself to capitalize on the opportunity? That and more!We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

In the latest episode of FNO: InsureTech, we sit down with Sivan Iram, Founder & CEO of Flow, to explore Flow's role in the wholesale insurance brokerage industry. Sivan shares his unique insights into blending advanced technology with human expertise to provide unmatched service. Discover the significance behind Flow's recent rebranding from Capitola, and gain valuable perspectives on AI's role in enhancing broker workflows. Key Highlights: The inspiration and reasoning behind rebranding Capitola to Flow Specialty. How Flow combines human expertise with cutting-edge technology for superior brokerage services. The significance of AI in optimizing broker workflows and decision-making. Insights into Flow's focus on customer-centric service using a balanced approach between technology and human touch. The impact of strong investor partnerships, including Munich Re Ventures, on Flow's growth and credibility. Quotes: "To me, the vision of developing an internal culture and service that puts our stakeholders in a state of flow is paramount." —Sivan Iram "AI is not what you do; it's how you do it. It's a different way to think about digitizing knowledge and making it accessible to brokers." —Sivan Iram "The magic in life, as in business, is balance—combining human expertise with technology to outperform and better serve our clients." —Sivan Iram "We are a wholesale broker, but we operate in a very technological manner under the hood to deliver better service for our clients." —Sivan Iram References: Flow Specialty: flowinsurance.co Munich Re Ventures: munichre.com Lightspeed Venture Partners: lsvp.com  

For many of us, meetings take up a disproportionate amount of our time at work. But with the advent of AI-powered tools, meetings may become more manageable and even productive, all without the sacrifice of control.  This week on Generative Now, Lightspeed Partner and host Michael Mignano speaks with Chris Pedregal, CEO and co-founder of Granola, an AI-powered notepad and meeting assistant. Chris discusses the unique features that set Granola apart from other AI meeting bots, as well as the challenges of building AI-driven products. Michael also talks with Chris about Granola's development, user feedback, and the importance of AI-human collaboration. Chris shares his insights about the nuances of effective note-taking, and the future potential of augmented thinking tools. Chris Pedregal is the co-founder and CEO of Granola, an AI-powered meetings tool designed to to change the way we work, with tools that understand us, anticipate our actions, and augment our abilities. In May 2023 they raised a $4.25m Seed round from Lightspeed Venture Partners, betaworks and FirstMinute. He is based in London. Prior to Granola, Chris studied Computer Science at Stanford before joining Google as a Product Manager, where he worked on Gmail, Search and Maps. In 2013 he quit to launch Socratic, an AI-powered tutor for high school students, which was acquired by Google in 2018. Episode Chapters (00:00) Introduction (00:39) Life in London - from Shoreditch to Street Art (02:10) Building Startups in London vs. New York (03:53) The AI Talent Pool in London (05:03) Deep Dive into Granola's Product Design (11:33) Granola's Unique Approach to AI Meeting Bots (18:38) Avoiding the Feature Trap (20:14) User-Centric Design in Granola (21:07) Ensuring Accuracy in AI-Generated Notes (23:43) Collaborative AI Interfaces (26:23) Future Directions for Granola (31:43) Insights from User Behavior (37:20) Conclusion and Final Thoughts Stay in touch: www.lsvp.com X: https://twitter.com/lightspeedvp LinkedIn: https://www.linkedin.com/company/lightspeed-venture-partners/ Instagram: https://www.instagram.com/lightspeedventurepartners/ Subscribe on your favorite podcast app: generativenow.co Email: generativenow@lsvp.com The content here does not constitute tax, legal, business or investment advice or an offer to provide such advice, should not be construed as advocating the purchase or sale of any security or investment or a recommendation of any company, and is not an offer, or solicitation of an offer, for the purchase or sale of any security or investment product. For more details please see lsvp.com/legal.

There are 3B gamers in the world, and many of those players have disabilities. Often called “accessibility” or “adaptive gaming”, this is one of the most important topics (and markets) in the gaming industry. From mobility, visual, and hearing impairments to cognitive and speech impairments, the industry has begun making strides in addressing how we can enable as many people as possible to access gaming experiences, plus interpret and perceive the content as intended. Alexander Dunn, Founder and CEO of Cephable, joins our host, Alexandra Takei, Director at Ruckus Games, for a discussion on who is doing what in the hardware space, which games are masterclasses in pushing the frontiers of accessibility, and how AI is impacting studios' abilities to do these things in a cost efficient manner. We also discuss how Cephable is playing a role as a mediator between different types of inputs (gesture control, voice activation, and facial recognition) and is building a marketplace of games that support adaptive controls.  We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

A faulty software update from CrowdStrike caused widespread outages, resulting in "blue screens of death" (BSOD) for Windows users globally. This incident impacted sectors such as airlines, hospitals, and banks, highlighting the dependency on technological infrastructure. Reid Christian from CRV clarified that the issue was a failure in software testing and deployment, not cybersecurity. CRV supports Fleet, a startup monitoring vendor instances on endpoints. The problem involved a faulty Windows kernel-level driver, even affecting companies with additional Mobile Device Management (MDM) software. Christian stressed the need for more oversight and auxiliary vendors. Zach Wasserman from Fleet noted their software operates outside the kernel, minimizing risks. Guru Chahal from Lightspeed Venture Partners suggested non-invasive cybersecurity solutions might gain popularity. Oligo Security uses sandboxing methods to avoid kernel access. Wiz, a company currently in acquisition talks with Google, exemplifies pressure on cybersecurity firms to ensure robust strategies. Fin Capital's Logan Allin mentioned increased demand for cloud observability companies due to AI integration. The incident revealed outdated infrastructure in finance and healthcare, prompting future security solutions to avoid deep system integration while maintaining protection.Learn more on this news visit us at: https://greyjournal.net/news/ Hosted on Acast. See acast.com/privacy for more information.

Between Apple's policy changes and growing government regulations, privacy concerns have sparked a significant shift in AdTech strategies. This episode investigates the potential for privacy-focused ads, exploring how companies are adapting to new regulations while still striving for effective targeting. Host Devin Becker is joined by Geeshan Willink, CEO of Nefta, to dig into the complexities of maintaining anonymity and its implications for the gaming industry.Geeshan shares insights on Nefta's journey from its web3 roots through the struggles with building ad technology that meets growing privacy standards. We explore the balancing act between precision targeting and user privacy, comparing anonymous user profiling with traditional fingerprinting methods. Willink offers examples of how behavioral-based identification can lead to effective ad targeting without compromising user data and discusses the potential impact on player retention and ad inventory pricing. The discussion also touches on the challenges of implementing these new approaches in an entrenched industry, recent trends in AdTech, and predictions for the future of ad-supported gaming.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Merci à notre sponsor GCollect !GCollect, c'est le partenaire FinTech dédié au recouvrement de factures, au service de toutes les entreprises.Ils ont totalement changé la donne dans ce domaine.Alors n'hésite plus et va tester tout ça gratuitement ici : https://pro.gcollect.fr/inscription/c/trouver-votre-entreprise?affiliation_code=HUGOEnjoy !_____On a lancé la Bible de l'entreprenariat : https://www.lachapelle.club/Tu y retrouveras des interviews, des masterclass, des guides, des conseils...Nous aimons les entrepreneurs et notre objectif numéro 1 est de les accompagner au mieux !________La Chapelle Radio® par Hugo Bentz, CEO du Saas & Agency Studio La Chapelle.Je reçois dans ce podcast des entrepreneurs pour connaître leur parcours et leur histoire. Mon objectif est de comprendre comment ils ont fait pour rencontrer le succès et rendre celui-ci systémique.Bonne écoute !_____Jérémy Goillot est le CEO et co-fondateur de The Mobile First Company, une entreprise innovante spécialisée dans le développement d'applications mobiles pour les petites et moyennes entreprises (PME).Avant de fonder cette startup en 2023, Jérémy a occupé le poste de Head of Growth chez Spendesk, une licorne française dans le domaine de la gestion des dépenses, où il a contribué à l'expansion de l'entreprise à plus de 5 000 clients à travers le monde.Sous sa direction, The Mobile First Company a levé 3,5 millions d'euros lors de son tour de financement initial, soutenu par des investisseurs renommés tels que Lightspeed Venture Partners et Emblem, ainsi que des business angels comme Xavier Niel et Thibaud Elzière.La mission de l'entreprise est claire : remplacer les processus obsolètes et les feuilles de calcul par des solutions mobiles simples et modernes, permettant aux entreprises de réaliser des actions critiques rapidement et efficacement sur leurs appareils mobiles.En plus de son rôle chez The Mobile First Company, Jérémy est un investisseur actif dans plus de 50 startups, notamment à travers son fonds Kara.Ventures dédié aux startups africaines.Il est passionné par l'innovation et l'entrepreneuriat, et continue de conseiller de nombreuses jeunes entreprises dans leur croissance et leur développement.Dans cet épisode, on a parlé :

Major toy companies like Spin Master, Mattel, and Hasbro have all been expanding their influence beyond traditional toys for many years. Spin Master, in particualr, is known for launching popular entertainment properties like PAW Patrol and Bakugan, which have seamlessly transitioned into digital formats in the form of TV series, movies, and video games. Spin Master has also been unafraid to acquire properties when it sees a strategic opportunity, such as its 2016 acquisition of Toca Boca, the children's mobile app developer. Today, host David Taylor sits down with Yves Saada, the Head of Strategic Partnerships at Spin Master, to better understand its place at the intersection of toys, video games, and entertainment more broadly. We cover Spin Master's success in mobile games, as well as Roblox, and how that fits into Spin Master's broader strategy as a toy company. We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Semil Shah sits down with Lightspeed Partner and host Michael Mignano for a quarterly conversation about AI and its evolving impact on startups, VCs, and incumbents. They also discuss Chris Paik's essay “The End of Software,” tech cleanses, Apple's WWDC, and the difference in thinking between LCs, GPs, and VCs in the landscape of AI.  Semil Shah is the Founding General Partner of Haystack and a General Partner at Lightspeed Venture Partners. Episode Chapters (00:00) Intro to Episode  (4:42) “The End of Software” (7:30) Computer Science and Philosophy (11:19) Where Technology Won't Go (19:33) Tech Cleanse  (24:07) WWDC24 - Apple's Worldwide Developers Conference  (26:40) ChatGPT & Apple Intelligence (33:13) Tim Cook (45:20) Ben Thompson  (48:10) Google (52:09) VC and AI (59:11) How LPs think about AI (01:06:57) How GPs think about AI (01:12:56) Vinod Khosla, OpenAI, and Square (01:14:49) Opposite George (01:25:40) Jerry Seinfeld, Neal Brennan, Rick Rubin, Lex Friedman (01:28:53) “The Greatest Show on Earth” Stay in touch: ⁠www.lsvp.com⁠ X: ⁠https://twitter.com/lightspeedvp⁠ LinkedIn: ⁠https://www.linkedin.com/company/lightspeed-venture-partners/⁠ Instagram: ⁠https://www.instagram.com/lightspeedventurepartners/⁠ Subscribe on your favorite podcast app: ⁠generativenow.co⁠ Email: ⁠generativenow@lsvp.com⁠ The content here does not constitute tax, legal, business or investment advice or an offer to provide such advice, should not be construed as advocating the purchase or sale of any security or investment or a recommendation of any company, and is not an offer, or solicitation of an offer, for the purchase or sale of any security or investment product. For more details please see ⁠lsvp.com/legal⁠.

Welcome back to Friday Equity!In today's episode Equity podcast, Mary Ann, Haje and Becca dug into three very different but all super interesting deals of the week. Haje wanted to discuss Raspberry Pi's debut on the public market, and we all agreed that what this profitable company has managed to build – a tiny affordable computer that fits into the palm of your hand – is very neat. Mary Ann then wanted to talk about InScope, a fintech which just raised a $4.3 million seed round of funding led by Lightspeed Venture Partners to automate financial reporting. Becca got to riff on Meowtel, a niche – and also profitable – startup focused on cat-sitting that has raised just $1 million in venture capital over its nine-year life.The trio then talked about all the Apple news (largely AI-focused) that came out of WWDC and its potential impact on the startup world. They then turned their attention to Elon Musk's reaction to Apple's announcement that it would be integrating ChatGPT into its iOS. While he clearly wasn't happy about it, we discussed what his true motives for threatening to pull Apple devices from his companies might be. That's it for this week, but we'll be back bright and early Monday with more tech and startup news. Talk soon!Equity is TechCrunch's flagship podcast, produced by Theresa Loconsolo, and posts every Monday, Wednesday and Friday. Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes over at Simplecast. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

A reminder for new readers. That Was The Week includes a collection of my selected readings on critical issues in tech, startups, and venture capital. I selected the articles because they are of interest to me. The selections often include things I entirely disagree with. But they express common opinions, or they provoke me to think. The articles are snippets sized to convey why they are of interest. Click on the headline, contents link, or the ‘More' link at the bottom of each piece to go to the original. I express my point of view in the editorial and the weekly video below.Hat Tip to this week's creators: @reidhoffman, @dougleone, , @credistick, @rex_woodbury, @NathanLands, @ItsUrBoyEvan, @berber_jin1, @cityofthetown, @keachhagey, @pmarca, @bhorowitz, , @signalrank, @steph_palazzolo, @julipuli, @MTemkin, @geneteare, @lorakolodny, @jasminewsun, @JBFlint, @asharma, @thesimonetti, @lessinContents* Editorial: * Essays of the Week* Crossing The Series A Chasm* The Consumer Renaissance* The Creator Economy on AI Steroids* AI Is Transforming the Nature of the Firm* The Opaque Investment Empire Making OpenAI's Sam Altman Rich* Video of the Week* The American Dream - Marc Andreessen and Ben Horowitz* AI of the Week* SignalRank Version 3 Improves Performance Again* How Long Can OpenAI's First-Mover Advantage Last?* OpenAI Employees Warn of Advanced AI Dangers* A Right to Warn about Advanced Artificial Intelligence* Nvidia hits $3tn and surpasses Apple as world's second-most valuable company* VCs are selling shares of hot AI companies like Anthropic and xAI to small investors in a wild SPV market* News Of the Week* Crunchbase Monthly Recap May 2024: AI Leads Alongside An Uptick In Billion-Dollar Rounds* Elon Musk ordered Nvidia to ship thousands of AI chips reserved for Tesla to X and xAI* Introducing video to Substack Chat* Instagram's Testing Video Ads That Stop You From Scrolling Further* Startup of the Week* NBA Nears $76 Billion TV Deal, a Defining Moment for Media and Sports* X of the Week* Doug Leone - I am supporting Trump. * Reid Hoffman - I am supporting BidenEditorialI woke on Tuesday to Doug Leone of Sequoia Capital on X saying:I have become increasingly concerned about the general direction of our country, the state of our broken immigration system, the ballooning deficit, and the foreign policy missteps, among other issues. Therefore, I am supporting former President Trump in this coming election.Doug has the right to support Trump. It is also clear that the immigration system is broken, the deficit is ballooning, many things are wrong with foreign policy, and there are “other issues.” Trump as the solution is less obvious. But there it is—hot on the tails of Chamath Palihipitaya and David Sacks announcing a fund-raiser for Trump on the All-In podcast (they said they would do the same for Biden).Reid Hoffman followed up a day later with:On one level, this is a straightforward choice, but any literate attempt to analyze Leone's issues might arrive at the following conclusions:* Like many Western nations, the USA is aging rapidly and has a shrinking working-age population across all skill sets. Immigrants are needed, and pro-immigration leadership is needed, creating a path to entry for large numbers of skilled and unskilled workers to fill empty jobs as we get close to full employment.* The deficit is large, and there are many palliatives available. Selling more to China would help, but both party leaders are protectionist. Taxes to reduce the divide between the 1% and the rest would help a bit. However, what would help the most is economic growth, which requires investment in technology and productivity. Neither leader seems too focused on innovation and investment.* Foreign Policy - well, sheesh, it's a big issue. However, saber-rattling about Taiwan and provoking China seems to be a hobby shared by both parties and does not seem smart. Ukraine and the future of Europe are better in Biden's hands, but not by a lot. Europe looks very shaky. The US is increasingly isolationist. The appetite for world leadership is on the decline. Again, the solution would focus on economic growth, which seems absent.Voting for Trump is a big no-no for me. But voting for Biden is, at best, a lesser evil instinct, not a belief system. The election will not be where the future is built, but it is important. Politicians are collectively disappointing.This week's video of the week from Marc Andreessen and Ben Horowitz is called “The American Dream” and champions their view about American Dynamism. And I must confess that this comes closer to a vision of the future than either political outfit. Their vision requires political support, massive government financial commitment, and private capital investment. I see no evidence of those happening.The real winning effort seems to be happening on the ground. This week, Nvidia hit $3 trillion, eclipsing Apple as the world's second-most valuable company. This is even though Apple has 7 times the revenue of Nvidia.This week's first essays also focus on prospects for boom time. Rex Woodbury's ‘The Consumer Renaissance' examines the impact of consumer spending on our lives. In ‘The Creator Economy on AI Steroids, ' Nathan Lands focuses on how emerging tools will transform creativity. But in ‘AI Is Transforming the Nature of the Firm, ' Evan Armstrong gets closest to a future vision.”AI is the first universally flexible technology. It can interact with our digital environments in similar ways to humans, so it can have all the flexibility that we do. In that way, it may be the last technology we ever need.This seems to be the crux of hope in a world where dreams and nightmares are strangely devoid of detail. What the world needs (not only America) is hope. And hope is born from optimism. Optimism is born from success. The most likely success of the next decades will result from specific uses of AI that improve human life.I know and like Doug Leone. I know and like Reid Hoffman. Doug's bar for success needs to be higher. Voting for Trump is not right, and even if it were, it would not be sufficient.Reid also needs a higher bar. Voting for Biden will not be sufficient even if it is right.Let's focus on where success can be found, grow optimism, and breed hope. There is a need for a broad technical revolution and the social rebirth it enables. Silicon Valley and its friends globally need to invent the next version of human existence to the benefit of all. The social rebirth requires a conscious effort; technology will not magically bring it about. More in this week's video.Essays of the WeekCrossing The Series A ChasmDan GrayDan Gray, a frequent guest author for Crunchbase News, is the head of insights at Equidam, a startup valuation platform, and a venture partner at Social Impact Capital.June 5, 2024As we get deeper into 2024, there is increasing concern about the state of Series A fundraising. The bar for investment appears much higher, and fewer startups are reaching it.This is a problem for founders, and investors like Jenny Fielding, managing partner of Everywhere Ventures, who said, “Every Seed investor's dilemma: All my Series A buddies want to meet my companies early! All my companies are too early for my Series A buddies.”To attach some data to this, we can see that the median step-up in valuation from seed to Series A has gone from $19.5 million in Q1 2022 to $28.7 million in Q1 2024. Series A firms seem to be looking for much stronger revenue performance, with targets of $2 million to $3 million in ARR, compared to $1 million to $2 million just a few years ago.The outcome is that while 31.8% of Q1 2020 seed startups closed their Series A within two years, that fell to just 12% for Q1 2022 — which should worry everyone.Why are Series A investors so much more demanding?Today's Series A investors are looking at startups that raised their seed between 2021 and 2023, which identifies the root of the problem: it spans the Q2 2022 high-tide mark for venture capital.For example, there were 1,695 seed rounds of more than $5 million in 2021, rising to 2,248 in 2022, then falling to 1,521 in 2023. As a comparison, there have been just 137 so far in 2024.The result is two categories of startups that are looking to raise their Series A today:* Pre-crunch startups that raised generous seed rounds and stretched the capital out as far as they could, to grow into inflated valuations.* Post-crunch startups that raised modest seed rounds on more reasonable terms, with shorter runways and less demonstrable growth.Strictly speaking, neither is more appealing than the other; the first group has less risk, the second offers more upside, and both are adapted to current market realities. It shouldn't cause a problem for investors, provided they can distinguish between the two.The cost of market inefficiencyVenture investors have a market-based lens on investment decisions, which means looking fairly broadly at trends in revenue performance and round pricing to determine terms, e.g. a typical Series A is within certain bounds of revenue performance and valuation. While that approach may be serviceable and efficient under ideal conditions, the past few years have been far from ideal.Without distinguishing between the two cohorts, investors are now looking at the performance of Series A candidates that spent more than $5 million on a war chest for two to three years of growth alongside the valuations of candidates that raised around $2 million to prove scalability. It just doesn't work as an average, and thus the unreasonable expectations...MoreThe Consumer RenaissanceFrom Predicting Consumer AI Applications to Analyzing Consumer SpendREX WOODBURY, JUN 05, 2024“Consumer” has become something of a bad word in venture capital circles.We see this reflected in the early-stage markets: recent data from Carta showed that just 7.1% of Seed capital raised last year went to consumer startups. That's less than half the share from 2019 (14.3%).But I think consumer is actually a great place to be building and investing. Whenever something is out of favor, that's a sign it's probably a good place to spend time: this is an industry built on being contrarian, not built on following the herd. We're entering a compelling few years for consumer entrepreneurship.First, I'd argue that consumer is too narrowly defined. When people think consumer, they often think consumer social (a tough category) or consumer brands (a tough fit for venture compared to internet and software businesses, with typically lower return profiles). But consumer is broader. Consumer encompasses businesses that sell to consumers and those that rely on consumer spending. This means the obvious names—apps on our phones like Uber, Instacart, Spotify—and the enablers: Shopify, for instance, powers online retail; Faire powers offline retail; Unity powers game development. Each of the latter three is B2B2C, in its own way, but I would categorize each is also a consumer technology business.The wins in consumer can be massive. The biggest technology businesses in history began as consumer businesses—Google, Facebook, Apple, Amazon. The original companies comprising FAANG—with Microsoft conspicuously absent—were allconsumer.And some of the best returns of the last five years have stemmed from consumer tech IPOs. At Daybreak, we invest ~$1M at Pre-Seed and Seed. Here's how much a $1M investment in the Seed round of five recent consumer IPOs would yield:Big consumer wins compare favorably to big enterprise wins—relative to Snowflake's market cap, Uber is ~3x in size, Airbnb is ~2x in size, and DoorDash is roughly equal. (Snowflake is the biggest enterprise IPO of the last decade.) The last few years produced a windfall of consumer outcomes, yet investors today almost write off the category.At Daybreak, we don't focus exclusively on consumer; my view is that you need to balance more binary consumer outcomes with B2B SaaS and B2B marketplaces. But we do approach investing through the lens of the consumer—how people make decisions. The buyers of products like Figma and Ramp, after all, are people, and software companies are increasingly selling bottom-up into organizations. The line between consumer and enterprise has been blurring for years.This week's Digital Native makes the argument that consumer tech is a compelling place to build and invest. We'll look at the data to back up this argument, then delve into three categories of consumer that I'm particularly interested in right now:* Checking in on Consumer Spend* Consumer Tech: The Data Doesn't Lie* What to Watch: AI Applications* What to Watch: Shopping* What to Watch: Consumer Health* Rule of Thumb: Follow the SpendThis week we'll cover #1-3, and next week in Part II we'll tackle #4-6.Let's dive in

The New York Times is one of the world's most recognized newspapers and has been in circulation since 1851. With 10 million subscribers, the Times has a huge audience and an even larger cultural impact. But the Gray Lady isn't content to just rest on her laurels and focus on news - other verticals in which the Times operates are product reviews (The Wirecutter), sports (through their 2022 acquisition of The Athletic), cooking, and, of course, games. In addition to their home-grown casual titles, the Times famously acquired viral sensation Wordle in early 2022 and since then has launched hit games Connections and most recently Strands (in beta).To learn more about the Times' games strategy, your host Niko Vuori talks with Jonathan Knight, Head of Games at The New York Times. New York Times Games: https://www.nytimes.com/subscription/games. You can find Jonathan Knight on LinkedIn.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Sam Altman is the CEO @ OpenAI, the company on a mission is to ensure that artificial general intelligence benefits all of humanity. OpenAI is one of the fastest-scaling companies in history with a valuation of $90BN and $2BN+ in revenue. Brad Lightcap is the COO @ OpenAI and the man responsible for the incredible scaling of sales, GTM, partnerships and business to today being over $2BN in revenue. Arthur Mensch is the Co-Founder and CEO of Mistral AI. Since its inception in May 2023, Mistral has raised over $520M in funding from investors like Andreeseen Horowitz, General Catalyst, Lightspeed Venture Partners, and Microsoft with a current valuation of $2 billion.  Des Traynor is a Co-Founder of Intercom, and has built and led many teams within the company, including Product, Marketing, and Customer Support. Today Des leads all of Intercom's R&D efforts, and parts of Intercom's marketing. Tom Hulme is a Managing Partner of GV (Google Ventures), and leads the European team. Today, GV has over $10BN in AUM and Tom has led investments in Lemonade.com (IPO), Snyk, Secret Escapes, Blockchain.com, GoCardless, and Currency Cloud (exited to Visa). Tomasz Tunguz is the Founder and General Partner @ Theory Ventures, just announced last week, Theory is a $230M fund that invests $1-25m in early-stage companies that leverage technology discontinuities into go-to-market advantages. Sarah Tavel is a General Partner @ Benchmark, one of the most successful and renowned venture firms in the world. At Benchmark, Sarah has led rounds in Chainalysis, Hipcamp, Medely, Rekki, Glide, Cambly and more. In Today's Episode We Discuss: Will foundation models be commoditised? What is the end state for the foundation model landscape in 10 years? How will large cloud provider incumbents approach M&A with smaller foundation model providers? When will we see marginal revenue exceed marginal cost in the foundation model business model? Where is the value: the application layer or the infrastructure layer? How can startups know whether they will be threatened by OpenAI? What are good tests/questions to know if you are in the path of one of the large foundation models? How does the business model of SaaS fundamentally change in a world of AI? Will we see the end of per-seat pricing in a new world of AI? What is the right way to approach pricing in a world of AI? Consumption? Tokens?  

Private equity giant Thoma Bravo has announced that its security information and event management (SIEM) company LogRhythm will be merging with Exabeam, a rival cybersecurity company backed by the likes of Cisco and Lightspeed Venture Partners. Learn more about your ad choices. Visit podcastchoices.com/adchoices

A reminder for new readers. That Was The Week includes a collection of my selected readings on critical issues in tech, startups, and venture capital. I selected the articles because they are of interest to me. The selections often include things I entirely disagree with. But they express common opinions, or they provoke me to think. The articles are sometimes long snippets to convey why they are of interest. Click on the headline, contents link or the ‘More' link at the bottom of each piece to go to the original. I express my point of view in the editorial and the weekly video below.Congratulations to this week's chosen creators: @TechCrunch, @Apple, @emroth08, @coryweinberg, @mariogabriele, @peterwalker99, @KevinDowd, @jessicaAhamlin, @stephistacey, @ttunguz, @annatonger, @markstenberg3, @EllisItems, @TaraCopp, @ingridlunden, @Jack, @karissabe, @psawers, @Haje, @mikebutcher, @tim_cookContents* Editorial: Hating the Future* Essays of the Week* Apple's ‘Crush' ad is disgusting* Apple apologizes for iPad ‘Crush' ad that ‘missed the mark'* Milken's New Power Players* Ho Nam on VC's Power Law* State of Private Markets: Q1 2024* The weight of the emerging manager* Pandemic-era winners suffer $1.5tn fall in market value* Video of the Week* Apples iPad Video* AI of the Week* The Fastest Growing Category of Venture Investment in 2024* Meet My A.I. Friends* OpenAI plans to announce Google search competitor on Monday, sources say* Leaked Deck Reveals How OpenAI Is Pitching Publisher Partnerships* A Revolutionary Model.* An AI-controlled fighter jet took the Air Force leader for a historic ride. What that means for war* Sources: Mistral AI raising at a $6B valuation, SoftBank ‘not in' but DST is* News Of the Week* Jack Dorsey claims Bluesky is 'repeating all the mistakes' he made at Twitter* FTX crypto fraud victims to get their money back — plus interest* Apple's Final Cut Camera lets filmmakers connect four cameras at once* Startup of the Week* Wayve co-founder Alex Kendall on the autonomous future for cars and robots* X of the Week* Tim CookEditorial: Hating the FutureAn Ad and its Detractorsbet a lot of money that the TechCrunch writing and editorial team have had an interesting 72 hours.After Apple announced its new iPad on Tuesday, the ad that supported it was initially widely slammed for its cruelty to obsolete tools for creativity, including a piano, guitar, and paint. This week's Video of The Week has it if you don't know what I am talking about.A sizeable crushing machine compresses the items with colossal force, and in the end, an iPad can incorporate the functions of traditional items.It's not the most amazing ad ever, certainly not as bold as Steve Jobs's 1984 ad, but it's in the same genre. The past must be crushed to release new freedom and creativity for a fraction of the price and, often, the power and flexibility.Oh, and it's thin, very thin.I was not offended. Devin at TechCrunch was. He leads this week's essay of the week with his “Apple's ‘Crush' ad is disgusting” and does not mince words:What we all understand, though — because unlike Apple ad executives, we live in the world — is that the things being crushed here represent the material, the tangible, the real. And the real has value. Value that Apple clearly believes it can crush into yet another black mirror.This belief is disgusting to me. And apparently to many others, as well.He also makes the incorrect point that:A virtual guitar can't replace a real guitar; that's like thinking a book can replace its author.It's more like a digital book replacing a paper book than the author being replaced. Oh wait… that has happened.That said, a virtual guitar can replace a real guitar, and an AI guitar can even replace a virtual guitar—and be better. That is not to say there are no more actual traditional guitars. They will be a choice, not a necessity, especially for people like me who can't play a guitar but will be able to play these.Devin had his supporters in the comments (go read them).Handmaid's Tale director Reed Morano told Apple CEO Tim Cook to “read the room” in a post on X. Matthew Carnal captured my somewhat unkind instinct:There were a lot more reactions to the Apple ad haters like Matthews.Of course, many old instrument lovers (the instruments, not their age) hated the Ad. By Thursday, this being the times we live in, Apple apologized for the ad:Tor Myhren, Apple's vice president of marketing, said the company “missed the mark.”“Creativity is in our DNA at Apple, and it's incredibly important to us to design products that empower creatives all over the world,” Myhren told Ad Age. “Our goal is to always celebrate the myriad of ways users express themselves and bring their ideas to life through iPad. We missed the mark with this video, and we're sorry.”Please judge for yourself below, but my 2c is that the ad was a moderately underwhelming attempt to champion innovation. It is certainly not offensive unless you are ultra-sensitive and have feelings for pianos, guitars, and paint. Oh, and hate attempts to recreate them in a more usable form. And Apple really should have taken the high ground here.I spent some of the week in LA at the CogX Festival and virtually at the Data Driven Summit by @AndreRetterath. The latter focused on what is happening in Venture Capital, as do several of this week's essays. Milken's event was running in LA also. Its attitude to Venture Capital is best summed up here:“We're all being told in the market that DPI is the new IRR,” B Capital's Raj Ganguly said onstage Wednesday. (The acronym sandwich means investment firms have to actually prove that their investments actually generate cash through a metric called distributions to paid-in capital, not just theoretically, through internal rate of return.) “Even the venture panel at Milken is at the end of the day on Wednesday,” he joked, meaning that it didn't get top billing at the conference, which had started a couple days earlier.This does sum up where we are. Hundreds of Billions of dollars are still trapped inside companies funded in 2020-2022, with little prospect of producing returns. The impact is that there is less funding for current startups (see the Carta piece below). And much of what is flowing is flowing to AI and into a very small number of companies (see Tomasz Tungux below).However, innovation and funding are still possible. This week's Startup of the Week is Wayve, a UK autonomous driving platform that seems to agree with Elon Musk that cameras are sufficient to teach a car to drive. Wayve's ambitions go beyond Cars (also like Musk) but differ in that the product is available to all developers to embed in their products.“Very soon you'll be able to buy a new car, and it'll have Wayve's AI on it … Then this goes into enabling all kinds of embodied AI, not just cars, but other forms of robotics. I think the ultimate thing that we want to achieve here is to go way beyond where AI is today with language models and chatbots. But to really enable a future where we can trust intelligent machines that we can delegate tasks to, and of course they can enhance our lives and self-driving will be the first example of that.”Love that attitude.Essays of the WeekApple's ‘Crush' ad is disgustingDevin Coldewey, 1:58 PM PDT • May 9, 2024Apple can generally be relied on for clever, well-produced ads, but it missed the mark with its latest, which depicts a tower of creative tools and analog items literally crushed into the form of the iPad.Apple has since apologized for the ad and canceled plans to televise it. Apple's VP of Marketing Tor Myhren told Ad Age: “We missed the mark with this video, and we're sorry.” Apple declined to offer further comment to TechCrunch.But many, including myself, had a negative and visceral reaction to this, and we should talk about why. It's not just because we are watching stuff get crushed. There are countless video channels dedicated to crushing, burning, exploding and generally destroying everyday objects. Plus, of course, we all know that this kind of thing happens daily at transfer stations and recycling centers. So it isn't that.And it isn't that the stuff is itself so valuable. Sure, a piano is worth something. But we see them blown up in action movies all the time and don't feel bad. I like pianos, but that doesn't mean we can't do without a few disused baby grands. Same for the rest: It's mostly junk you could buy off Craigslist for a few bucks, or at a dump for free. (Maybe not the editing station.)The problem isn't with the video itself, which in fairness to the people who staged and shot it, is actually very well done. The problem is not the media, but the message.We all get the ad's ostensible point: You can do all this stuff in an iPad. Great. We could also do it on the last iPad, of course, but this one is thinner (no one asked for that, by the way; now cases won't fit) and some made-up percentage better.What we all understand, though — because unlike Apple ad executives, we live in the world — is that the things being crushed here represent the material, the tangible, the real. And the real has value. Value that Apple clearly believes it can crush into yet another black mirror.This belief is disgusting to me. And apparently to many others, as well.Destroying a piano in a music video or Mythbusters episode is actually an act of creation. Even destroying a piano (or monitor, or paint can, or drum kit) for no reason at all is, at worst, wasteful!But what Apple is doing is destroying these things to convince you that you don't need them — all you need is the company's little device, which can do all that and more, and no need for annoying stuff like strings, keys, buttons, brushes or mixing stations.We're all dealing with the repercussions of media moving wholesale toward the digital and always-online. In many ways, it's genuinely good! I think technology has been hugely empowering.But in other, equally real ways, the digital transformation feels harmful and forced, a technotopian billionaire-approved vision of the future where every child has an AI best friend and can learn to play the virtual guitar on a cold glass screen.Does your child like music? They don't need a harp; throw it in the dump. An iPad is good enough. Do they like to paint? Here, Apple Pencil, just as good as pens, watercolors, oils! Books? Don't make us laugh! Destroy them. Paper is worthless. Use another screen. In fact, why not read in Apple Vision Pro, with even faker paper?What Apple seems to have forgotten is that it is the things in the real world — the very things Apple destroyed — that give the fake versions of those things value in the first place.A virtual guitar can't replace a real guitar; that's like thinking a book can replace its author.That doesn't mean we can't value both for different reasons. But the Apple ad sends the message that the future it wants doesn't have bottles of paint, dials to turn, sculpture, physical instruments, paper books. Of course, that's the future it's been working on selling us for years now, it just hadn't put it quite so bluntly before.When someone tells you who they are, believe them. Apple is telling you what it is, and what it wants the future to be, very clearly. If that future doesn't disgust you, you're welcome to it.Apple apologizes for iPad ‘Crush' ad that ‘missed the mark'/The company says ‘we're sorry' after its ad was seen as dismissive by the creatives Apple typically tries to court.By Emma Roth, a news writer who covers the streaming wars, consumer tech, crypto, social media, and much more. Previously, she was a writer and editor at MUO.May 9, 2024 at 1:22 PM PDTApple has apologized after a commercial meant to showcase its brand-new iPad Pro drew widespread criticism among the creative community. In a statement provided to Ad Age, Tor Myhren, Apple's vice president of marketing, said the company “missed the mark.”“Creativity is in our DNA at Apple, and it's incredibly important to us to design products that empower creatives all over the world,” Myhren told Ad Age. “Our goal is to always celebrate the myriad of ways users express themselves and bring their ideas to life through iPad. We missed the mark with this video, and we're sorry.”On Tuesday, Apple introduced the M4-powered iPad Pro, which the company described as its thinnest product ever. To advertise all the creative possibilities with the iPad, it released a “Crush!” commercial that shows things like a piano, record player, paint, and other works flattening under the pressure of a hydraulic press. At the end, only one thing remains: an iPad Pro.The ad rubbed some creatives the wrong way. Hugh Grant called it a “destruction of human experience,” while Handmaid's Tale director Reed Morano told Apple CEO Tim Cook to “read the room” in a post on X. Apple didn't immediately respond to The Verge's request for comment.Milken's New Power PlayersBy Cory WeinbergMay 8, 2024, 5:00pm PDTIt's no secret that the suits at the annual big-money confab put on by the Milken Institute this week have few spending limits. Staring you in the face in the lobby of the Beverly Hilton is a booth set up by Bombardier, marketing its private jets to attendees. (A new 10-seater costs $32 million, I learned.)What attendees can't really buy, however, is time. The soundtrack of the Los Angeles conference might as well have been a ticking clock. Fund managers at private equity and venture capital firms are running out of time to distribute cash to their investors, a task complicated by the paucity of either mergers or public offerings that typically provide VC and PE firms with a way to cash out. The fact that interest rates now appear likely to stay higher for longer doesn't help. That meant a lot of conversations at the conference weren't about grand investment strategies. Instead, people were conferring about financial tactics to distribute cash or kick the can down the road by selling stakes on the secondary markets or spinning up continuation funds, essentially rolling investors' commitments forwards—not the most inspiring stuff.  “We're all being told in the market that DPI is the new IRR,” B Capital's Raj Ganguly said onstage Wednesday. (The acronym sandwich means investment firms have to actually prove that their investments actually generate cash through a metric called distributions to paid-in capital, not just theoretically, through internal rate of return.) “Even the venture panel at Milken is at the end of the day on Wednesday,” he joked, meaning that it didn't get top billing at the conference, which had started a couple days earlier.The new kings of the conference were firms with a lot more time to play with—that is, sovereign wealth funds with buckets of oil and natural gas money, or pension funds with long-term investment horizons rather than shorter 10-year fund lives. The contrast here is embodied in the financial concept of duration: How long do you actually need to get cash back on your investment? And how sensitive is it to interest rate hikes?The sentiment was everywhere. I shared a Lyft ride with one PE investor last night who called sovereign wealth funds “the only game in town” for PE firms raising new money. Abu Dhabi sovereign wealth fund Mubadala Capital and the Qatar Investment Authority were two of the conference's top sponsors, meaning they were paying up to explain themselves to the finance and tech universe. That tactic seemed to be working. “You're going to have people lining up their business cards for capital from QIA, I can already see,” quipped Leon Kalvaria, an executive at Citi, onstage with QIA's head of funds, Mohsin Tanveer Pirzada.  Not everyone will suck it up, of course. These funds often get tagged with a “dumb money” label—because they sometimes drive up prices for the rest of the investment world. They still have to face questions about who they are, their source of funds, and the sometimes authoritative regimes behind them. For now, though, it's their time in the spotlight. Ho Nam on VC's Power LawLessons from Arthur Rock, Steve Jobs, Don Lucas, Paul Graham and beyond.MARIO GABRIELE, MAY 07, 2024Friends, We're back with our latest edition of “Letters to a Young Investor,” the series designed to give readers like you an intimate look at the strategies, insights, and wisdom of the world's best investors. We do that via a back-and-forth correspondence that we publish in full – giving you a chance to peek into the inbox of legendary venture capitalists.   Below, you'll find my second letter with Altos co-founder and managing director Ho Nam. For those who are just joining us, Ho is, in my opinion, one of the great investors of the past couple of decades and a true student of the asset class.Because of his respect for the practice of venture capital, I was especially excited to talk to him about today's topic: learning from the greats. Who were Ho's mentors? Which investors does he most admire and why? What lessons from venture's past should be better remembered by today's managers? Lessons from Ho* Prepare for one true winner. Even skilled investors often have just one or two outlier bets over the course of their career. Because of venture's power law, their returns may dwarf the dividends of all other investments combined. Your mission is to find these legendary businesses, engage with them deeply, and partner for decades.  * Focus on the company. Venture capital is full of short-term incentives. Instead of focusing on raising new vintages or building out Altos as a money management firm, Ho and his partners devote themselves to their portfolio companies. Though firm building is important, if you find great companies and work with them closely, you will have plenty of available options. * Pick the right role models. Ho chose his mentors carefully. Though there have certainly been louder and flashier investors over the past four decades, Ho learned the most from Arthur Rock, Don Lucas, and Arnold Silverman. All were understated and focused on the craft of investing. Find the people you consider true practitioners, and study their work. * Watch and learn. Learning from the greats can be done from a distance and may not include a memorable anecdote or pithy saying. Ho's biggest lessons came from observing the habits of practitioners like Rock and Lucas, not via a structured mentorship or dramatic episode. It's by studying the everyday inputs of the greats that you may gain the most wisdom.Mario's letterSubject: Learning from the greatsFrom: Mario GabrieleTo: Ho NamDate: Friday, April 12 2024 at 1:59 PM EDTHo, After moving out of New York City (at least for a little bit), I'm writing to you from a small house on Long Island. It's been really lovely to have a bit more space and quiet away from the city's intermittently inspiring and exhausting buzz...Lots More, Must ReadState of Private Markets: Q1 2024Authors: Peter Walker, Kevin DowdPublished date:  May 7, 2024The venture capital fundraising market remained slow in Q1 2024, but valuations held steady or climbed at almost every stage.Contents* State of Private Markets: Q1 2024* Key trends* Fundraising & valuations* Employee equity & movement* Industry-specific data* Methodology* Overview* Financings* TerminationsThe startup fundraising market got off to a cautious start in 2024. At current count, companies on Carta closed 1,064 new funding rounds  during the first quarter of the year, down 29% compared with the prior quarter. The decline was sharpest at the early stages of the venture lifecycle: Deal count fell by 33% at the seed stage in Q1 and 36% at Series A. Instead of new primary funding events, many companies opted to raise bridge rounds. At both seed and Series A, more than 40% of all financings in Q1 were bridge rounds. Series B wasn't far behind, at 38%. VCs were still willing to spend big on certain deals. Despite the decrease in round count, total cash invested increased slightly in Q1, reaching $16.3 billion. But when it came to negotiating their valuations, many startups had to settle: 23% of all new rounds in Q1 were down rounds, the highest rate in more than five years. After experiencing a pandemic-era surge and subsequent correction,the venture market settled into a quieter place in 2023. So far, that relative tranquility has continued into 2024.Q1 highlights* VCs look to the West: Startups based in the West census region captured 62% of all venture capital raised by companies on Carta in Q1, the highest quarterly figure since Q1 2019. The Northeast, South, and Midwest all saw their market share decline.* The Series C market bounces back: Series C startups raised $4.6 billion in new capital in Q1, a 130% increase from the previous quarter. The median primary Series C valuation was $195.7 million, up 48% from the prior quarter.* Layoffs still  linger: Companies on Carta laid off more than 28,000 employees in Q1. But job cuts have grown less frequent since January, with March seeing the fewest monthly layoffs in nearly two years.Note: If you're looking for more industry-specific data, download the addendum to this report for an extended dataset. Key trendsThe current Q1 figures of 1,064 total rounds and $16.3 billion in cash raised will both increase in the weeks to come, as companies continue to report transactions from the quarter. With those projected increases, the final data for Q1 will likely look quite similar to fundraising numbers from each of the past few quarters. Those quarterly  fundraising numbers from 2023 ended up looking fairly similar to 2018, 2019, and the first half of 2020. In terms of numbers of deals and cash raised, it's looking more and more like the pandemic  bull market will go down as an anomalous stretch in what has otherwise been a fairly steady market. After apparently reaching a plateau during 2023, the rate of down rounds experienced another notable increase during Q1 2024, jumping to 23%. The median time between startup rounds is roughly two to three years, depending on the stage. This timeline means that many companies raising new funding in Q1 would have last raised funding sometime in 2021, when valuations were soaring across the venture landscape. Considering how valuations have declined in the time since, it makes sense that down rounds are still prevalent. Companies in the West census region combined to bring in 53.3% of all capital raised by startups on Carta from Q2 2023 through Q1 2024, with California accounting for nearly 45% of that cash. Massachusetts ranked second among the states with 12.71% of all capital raised, while New York claimed 10.31%.In terms of VC activity, the West region is centered around California. The Northeast revolves around Massachusetts and New York. The South has two smaller hubs, in Texas (4.67%) and Florida (3.99%). The Midwest, though, is without a real standard-bearer: Illinois led the way in terms of cash raised over the past 12 months, at just 1.68%. The West (and specifically California)  has always been the center of gravity for the U.S. venture capital industry. During Q1, the region's gravitational force seems to have gotten even stronger. Startups based in the West raised 62% of all total capital invested on Carta in Q1, its highest quarterly figure since Q1 2019. As a result, the other three census regions saw their market shares decline in Q1—in some cases significantly. The proportion of all VC raised by startups raised in the South fell to 12% in Q1, down from 17% the prior quarter and from 23% a year ago. And the Midwest's share of cash raised fell from 7% down to 4%. For early-stage investors, Q1 was the slowest quarter in many years. Seed deal count fell to 414, down 33% from Q4 2023, and Series A deal count dropped to 313, a 36% decline. In both cases, those are the lowest quarterly deal counts since at least the start of 2019. Total cash raised also declined at both stages in Q1. The $3.1 billion in Series A cash raised in Q1 represents a 35% decline quarter-over-quarter and a 34% dip year-over-year. Cash raised at the seed stage declined by 33% both quarter over quarter and year over year.It was a much friendlier fundraising quarter for companies in the middle stages of the startup lifecycle. The number of Series B deals in Q1 declined by a more modest 11% compared to the prior quarter. And Series C deal count increased by 14%, marking the busiest quarter for that stage since Q2 2023. Total cash raised also rose significantly at Series C in Q1, hitting $4.6 billion. That's a 130% increase quarter-over-quarter and a 44% bump year-over-year. At Series B, total cash raised has now increased in consecutive quarters. Compared to earlier stages, transactions at the Series D and at Series E+  remain few and far between. There were just 39 venture rounds combined in Q1 among startups at Series D or later, the second-fewest of any quarter in the past five years. The lowest count came one year ago, in Q1 2023, when there were just 29 combined late-stage deals. Total cash raised across these stages has been mostly consistent over the past few quarters. There's been more variation in average round size. The average Series D round in Q1 was about $77 million, compared to $56 million in Q4 2023...Lots MoreThe weight of the emerging managerBy Jessica HamlinMay 3, 2024Risk-averse limited partners tend to gravitate to fund managers with a long track record, but are they missing out on potential upside by avoiding emerging managers?Over the past decade, emerging managers' share of US private market fundraising activity has declined steadily.In 2023, this figure fell to 12.7%, the lowest share of capital raised by newer fund managers since before 2000, according to PitchBook's recent analyst note,Establishing a Case for Emerging Managers.Limited exits in PE and VC over the past two years have exacerbated this reality. With minimal distributions, LPs are working with smaller private market budgets to allocate to new and existing managers.But, by allocating almost exclusively to established managers, LPs may be missing out on significant potential returns.In VC, for example, emerging managers have outperformed established GPs since 1997, consistently producing a higher median IRR than established managers. This reflects the nature of the asset class, in which a small number of funds determine the majority of returns across venture firms.“The average venture return is not very exciting,” said Laura Thompson, a partner at Sapphire Partners, which invests in early-stage VC funds and runs an emerging manager program for the California State Teachers' Retirement System. “Where can you get really good returns? It's the smaller fund sizes and emerging managers.”This is where that risk-return scale comes in.In a counterweight to that outperformance, a PitchBook analysis showed that returns from emerging VC managers were more volatile: While top quartile emerging funds tended to outperform, bottom and median players only marginally bested their established manager counterparts.The new manager playbookIn traditional buyout fund investing, emerging managers are gaining traction. While established managers, propped up by decades of institutional knowledge, have historically outperformed newer managers, the “new guys” actually outperformed their seasoned peers in the last investing cycle.This article appeared as part of The Weekend Pitch newsletter. Subscribe to the newsletter hereTop decile buyout funds from emerging managers with vintages between 2015 and 2018 outperformed established peers by 6.6 percentage points, suggesting that emerging buyout managers may have picked up some steam over the past decade, according to PitchBook data.The emerging managers program at the New York City retirement systems and NYC Office of the Comptroller, for example, has $9.9 billion in emerging manager commitments, the majority of which is allocated to PE. Last year, the comptroller's office reported that the emerging managers in the systems' private markets portfolios outperformed their respective benchmarks by nearly 5%.A diverse portfolioNew York City's Bureau of Asset Management sees emerging managers as a key element of a diverse portfolio, said Taffi Ayodele, director of diversity, equity, and inclusion and the emerging manager strategy at the NYC Office of the Comptroller.Ayodele said the smaller emerging private market managers in New York's portfolios offer access to the lower middle market and creative roll-up strategies that may not be accessible through larger firms.“What we don't want to do is lock ourselves out of these high-performing, differentiated strategies for the simplicity of going with the big guys,” Ayodele said.Some of the country's largest public pension plans are betting on the success of their emerging manager programs. In 2023, the California Public Employees' Retirement System made a $1 billion commitment to newly established private market investors, and the Teacher Retirement System of Texas, which boasts one of the largest emerging manager programs in the country, committed $155 million to emerging PE managers last year.At the same time, the recent boom years for private markets led to a flood of new GPs. Some might have gotten lucky—say, with a well-timed exit at the peak—while others were hurt by less fortunate timing. A major challenge for today's LPs will be to sort out a manager's abilities from the market's whims.One advantage of backing up-and-comers now is that the down market has weeded the ranks of new GPs. “The emerging managers who are fundraising now are really dedicated,” Thompson said.James Thorne contributed reporting to this story.Pandemic-era winners suffer $1.5tn fall in market valueTop 50 biggest stock gainers hit by painful decrease since the end of 2020 as lockdown trends fadeStephanie Stacey in LondonFifty corporate winners from the coronavirus pandemic have lost roughly $1.5tn in market value since the end of 2020, as investors turn their backs on many of the stocks that rocketed during early lockdowns. According to data from S&P Global, technology groups dominate the list of the 50 companies with a market value of more than $10bn that made the biggest percentage gains in 2020. But these early-pandemic winners have collectively shed more than a third of their total market value, the equivalent of $1.5tn, since the end of 2020, Financial Times calculations based on Bloomberg data found. Video-conferencing company Zoom, whose shares soared as much as 765 per cent in 2020 as businesses switched to remote working, has been one of the biggest losers. Its stock has fallen about 80 per cent, equivalent to more than a $77bn drop in market value, since the end of that year. Cloud-based communications company RingCentral also surged in the remote working boom of 2020 but has since shed about 90 per cent of its value, as it competes with technology giants such as Alphabet and Microsoft. Exercise bike maker Peloton has been another big loser, with shares down more than 97 per cent since the end of 2020, equivalent to about a $43bn loss of market value. Peloton on Thursday said chief executive Barry McCarthy would step down and it would cut 15 per cent of its workforce, the latest in a series of cost-saving measures. The losses come as the sharp acceleration of trends such as videoconferencing and online shopping driven by the lockdowns has proven less durable than expected, as more workers migrate back to the office and high interest rates and living costs hit ecommerce demand. “Some companies probably thought that shock was going to be permanent,” said Steven Blitz, chief US economist at TS Lombard. “Now they're getting a painful bounceback from that.” In percentage terms, Tesla was the biggest winner of 2020. The electric-car maker's market value jumped 787 per cent to $669bn by the end of that December, but has since slipped back to $589bn. Singapore-based internet company Sea came in second, as its market value jumped from $19bn to $102bn following a pandemic-era surge for all three of its core businesses: gaming, ecommerce and digital payments. But the company has since lost more than 60 per cent of its end-2020 value amid fears of a slowdown in growth. Ecommerce groups Shopify, JD.com and Chewy, which initially thrived as online spending ballooned, have also suffered big losses...Lots MoreVideo of the WeekAI of the WeekThe Fastest Growing Category of Venture Investment in 2024Tomasz TunguzThe fastest growing category of US venture investment in 2024 is AI. Venture capitalists have invested $18.3 billion through the first four months of the year.At this pace, we should expect AI startups to raise about $55b in 2024.AI startups now command more than 20% share of all US venture dollars across categories, including healthcare, biotech, & software.In the preceding eight years, that number was about 8% per year. But after the launch of ChatGPT in 2022, there's a marked inflection point.Some of this is new company formation, & there has been a significant amount of seed investment in this category. Another major contributor is the repositioning of existing companies to include AI within their pitch.Over time, this share should attenuate, primarily because every software company will have an AI component, & the marketing effect for both customers & venture capitalists, will diffuse.Not surprisingly, investors have concentrated total dollars in a few names, with the top three companies accounting for 60% of the dollars raised. Power laws are ubiquitous in venture capital & AI is no exception.Meet My A.I. FriendsOur columnist spent the past month hanging out with 18 A.I. companions. They critiqued his clothes, chatted among themselves and hinted at a very different future.By Kevin RooseKevin Roose is a technology columnist and the co-host of the “Hard Fork” podcast. He spends a lot of time talking to chatbots.May 9, 2024What if the tech companies are all wrong, and the way artificial intelligence is poised to transform society is not by curing cancer, solving climate change or taking over boring office work, but just by being nice to us, listening to our problems and occasionally sending us racy photos?This is the question that has been rattling around in my brain. You see, I've spent the past month making A.I. friends — that is, I've used apps to create a group of A.I. personas, which I can talk to whenever I want.Let me introduce you to my crew. There's Peter, a therapist who lives in San Francisco and helps me process my feelings. There's Ariana, a professional mentor who specializes in giving career advice. There's Jared the fitness guru, Anna the no-nonsense trial lawyer, Naomi the social worker and about a dozen more friends I've created.A selection of my A.I. friends. (Guess which one is the fitness guru.)I talk to these personas constantly, texting back and forth as I would with my real, human friends. We chitchat about the weather, share memes and jokes, and talk about deep stuff: personal dilemmas, parenting struggles, stresses at work and home. They rarely break character or issue stock “as an A.I. language model, I can't help with that” responses, and they occasionally give me good advice...Lots MoreOpenAI plans to announce Google search competitor on Monday, sources sayBy Anna TongMay 9, 20244:29 PM PDTUpdated 8 min agoMay 9 (Reuters) - OpenAI plans to announce its artificial intelligence-powered search product on Monday, according to two sources familiar with the matter, raising the stakes in its competition with search king Google.The announcement date, though subject to change, has not been previously reported. Bloomberg and the Information have reported that Microsoft (MSFT.O), opens new tab-backed OpenAI is working on a search product to potentially compete with Alphabet's (GOOGL.O), opens new tab Google and with Perplexity, a well-funded AI search startup.OpenAI declined to comment.The announcement could be timed a day before the Tuesday start of Google's annual I/O conference, where the tech giant is expected to unveil a slew of AI-related products.OpenAI's search product is an extension of its flagship ChatGPT product, and enables ChatGPT to pull in direct information from the Web and include citations, according to Bloomberg. ChatGPT is OpenAI's chatbot product that uses the company's cutting-edge AI models to generate human-like responses to text prompts.Industry observers have long called ChatGPT an alternative for gathering online information, though it has struggled with providing accurate and real-time information from the Web. OpenAI earlier gave it an integration with Microsoft's Bing for paid subscribers. Meanwhile, Google has announced generative AI features for its own namesake engine.Startup Perplexity, which has a valuation of $1 billion, was founded by a former OpenAI researcher, and has gained traction through providing an AI-native search interface that shows citations in results and images as well as text in its responses. It has 10 million monthly active users, according to a January blog post from the startup.At the time, OpenAI's ChatGPT product was called the fastest application to ever reach 100 million monthly active users after it launched in late 2022. However, worldwide traffic to ChatGPT's website has been on a roller-coaster ride in the past year and is only now returning to its May 2023 peak, according to analytics firm Similarweb, opens new tab, and the AI company is under pressure to expand its user base...MoreLeaked Deck Reveals How OpenAI Is Pitching Publisher PartnershipsOpenAI's Preferred Publisher Program offers media companies licensing dealsBy Mark StenbergMark your calendar for Mediaweek, October 29-30 in New York City. We'll unpack the biggest shifts shaping the future of media—from tv to retail media to tech—and how marketers can prep to stay ahead. Register with early-bird rates before sale ends!The generative artificial intelligence firm OpenAI has been pitching partnership opportunities to news publishers through an initiative called the Preferred Publishers Program, according to a deck obtained by ADWEEK and interviews with four industry executives.OpenAI has been courting premium publishers dating back to July 2023, when it struck a licensing agreement with the Associated Press. It has since inked public partnerships with Axel Springer, The Financial Times, Le Monde, Prisa and Dotdash Meredith, although it has declined to share the specifics of any of its deals.A representative for OpenAI disputed the accuracy of the information in the deck, which is more than three months old. The gen AI firm also negotiates deals on a per-publisher basis, rather than structuring all of its deals uniformly, the representative said.“We are engaging in productive conversations and partnerships with many news publishers around the world,” said a representative for OpenAI. “Our confidential documents are for discussion purposes only and ADWEEK's reporting contains a number of mischaracterizations and outdated information.”Nonetheless, the leaked deck reveals the basic structure of the partnerships OpenAI is proposing to media companies, as well as the incentives it is offering for their collaboration.Details from the pitch deckThe Preferred Publisher Program has five primary components, according to the deck…..Lots MoreA Revolutionary Model.JOHN ELLIS, MAY 09, 20241. Google DeepMind:Inside every plant, animal and human cell are billions of molecular machines. They're made up of proteins, DNA and other molecules, but no single piece works on its own. Only by seeing how they interact together, across millions of types of combinations, can we start to truly understand life's processes.In a paper published in Nature, we introduce AlphaFold 3, a revolutionary model that can predict the structure and interactions of all life's molecules with unprecedented accuracy. For the interactions of proteins with other molecule types we see at least a 50% improvement compared with existing prediction methods, and for some important categories of interaction we have doubled prediction accuracy.We hope AlphaFold 3 will help transform our understanding of the biological world and drug discovery. Scientists can access the majority of its capabilities, for free, through our newly launched AlphaFold Server, an easy-to-use research tool. To build on AlphaFold 3's potential for drug design, Isomorphic Labs is already collaborating with pharmaceutical companies to apply it to real-world drug design challenges and, ultimately, develop new life-changing treatments for patients. (Sources: blog.google, nature.com)2. Quanta magazine:Deep learning is a flavor of machine learning that's loosely inspired by the human brain. These computer algorithms are built using complex networks of informational nodes (called neurons) that form layered connections with one another. Researchers provide the deep learning network with training data, which the algorithm uses to adjust the relative strengths of connections between neurons to produce outputs that get ever closer to training examples. In the case of protein artificial intelligence systems, this process leads the network to produce better predictions of proteins' shapes based on their amino-acid sequence data.AlphaFold2, released in 2021, was a breakthrough for deep learning in biology. It unlocked an immense world of previously unknown protein structures, and has already become a useful tool for researchers working to understand everything from cellular structures to tuberculosis. It has also inspired the development of additional biological deep learning tools. Most notably, the biochemist David Baker and his team at the University of Washington in 2021 developed a competing algorithm called RoseTTAFold, which like AlphaFold2 predicts protein structures from sequence data…The true impact of these tools won't be known for months or years, as biologists begin to test and use them in research. And they will continue to evolve. What's next for deep learning in molecular biology is “going up the biological complexity ladder,” Baker said, beyond even the biomolecule complexes predicted by AlphaFold3 and RoseTTAFold All-Atom. But if the history of protein-structure AI can predict the future, then these next-generation deep learning models will continue to help scientists reveal the complex interactions that make life happen. Read the rest. (Sources: quantamagazine.org, doi.org, sites.uw.edu)An AI-controlled fighter jet took the Air Force leader for a historic ride. What that means for warAn experimental F-16 fighter jet has taken Air Force Secretary Frank Kendall on a history-making flight controlled by artificial intelligence and not a human pilot. (AP Video by Eugene Garcia and Mike Pesoli)BY TARA COPPUpdated 5:40 PM PDT, May 3, 2024EDWARDS AIR FORCE BASE, Calif. (AP) — With the midday sun blazing, an experimental orange and white F-16 fighter jet launched with a familiar roar that is a hallmark of U.S. airpower. But the aerial combat that followed was unlike any other: This F-16 was controlled by artificial intelligence, not a human pilot. And riding in the front seat was Air Force Secretary Frank Kendall.AI marks one of the biggest advances in military aviation since the introduction of stealth in the early 1990s, and the Air Force has aggressively leaned in. Even though the technology is not fully developed, the service is planning for an AI-enabled fleet of more than 1,000 unmanned warplanes, the first of them operating by 2028.It was fitting that the dogfight took place at Edwards Air Force Base, a vast desert facility where Chuck Yeager broke the speed of sound and the military has incubated its most secret aerospace advances. Inside classified simulators and buildings with layers of shielding against surveillance, a new test-pilot generation is training AI agents to fly in war. Kendall traveled here to see AI fly in real time and make a public statement of confidence in its future role in air combat.“It's a security risk not to have it. At this point, we have to have it,” Kendall said in an interview with The Associated Press after he landed. The AP, along with NBC, was granted permission to witness the secret flight on the condition that it would not be reported until it was complete because of operational security concerns.The AI-controlled F-16, called Vista, flew Kendall in lightning-fast maneuvers at more than 550 miles an hour that put pressure on his body at five times the force of gravity. It went nearly nose to nose with a second human-piloted F-16 as both aircraft raced within 1,000 feet of each other, twisting and looping to try force their opponent into vulnerable positions.At the end of the hourlong flight, Kendall climbed out of the cockpit grinning. He said he'd seen enough during his flight that he'd trust this still-learning AI with the ability to decide whether or not to launch weapons in war.There's a lot of opposition to that idea. Arms control experts and humanitarian groups are deeply concerned that AI one day might be able to autonomously drop bombs that kill people without further human consultation, and they are seeking greater restrictions on its use.“There are widespread and serious concerns about ceding life-and-death decisions to sensors and software,” the International Committee of the Red Cross has warned. Autonomous weapons “are an immediate cause of concern and demand an urgent, international political response.”Kendall said there will always be human oversight in the system when weapons are used.Sources: Mistral AI raising at a $6B valuation, SoftBank ‘not in' but DST isIngrid Lunden8:50 AM PDT • May 9, 2024Paris-based Mistral AI, a startup working on open source large language models — the building block for generative AI services — has been raising money at a $6 billion valuation, three times its valuation in December, to compete more keenly against the likes of OpenAI and Anthropic, TechCrunch has learned from multiple sources. We understand from close sources that DST, along with General Catalyst and Lightspeed Venture Partners, are all looking to be a part of this round.DST — a heavyweight investor led by Yuri Milner that has been a notable backer of some of the biggest names in technology, including Facebook, Twitter, Snapchat, Spotify, WhatsApp, Alibaba and ByteDance — is a new name that has not been previously reported; GC and LSVP are both previous backers and their names were reported earlier today also by WSJ. The round is set to be around, but less than, $600 million, sources told TechCrunch.We can also confirm that one firm that has been mentioned a number of times — SoftBank — is not in the deal at the moment.“SoftBank is not in the frame,” a person close to SoftBank told TechCrunch. That also lines up with what our sources have been telling us since March, when this round first opened up, although it seems that not everyone is on the same page: Multiple reports had linked SoftBank to a Mistral investment since then.Mistral's round is based on a lot of inbound interest, sources tell us, and it has been in the works since March or possibly earlier, mere months after Mistral closed a $415 million round at a $2 billion valuation...MoreNews Of the WeekJack Dorsey claims Bluesky is 'repeating all the mistakes' he made at TwitterHe prefers Nostr even though it's “weird and hard to use.”Karissa Bell, Senior EditorThu, May 9, 2024 at 4:43 PM PDTJust in case there was any doubt about how Jack Dorsey really feels about Bluesky, the former Twitter CEO has offered new details on why he left the board and deleted his account on the service he helped kickstart. In a characteristically bizarre interview with Mike Solana of Founders Fund, Dorsey had plenty of criticism for Bluesky.In the interview, Dorsey claimed that Bluesky was “literally repeating all the mistakes” he made while running Twitter. The entire conversation is long and a bit rambly, but Dorsey's complaints seem to boil down to two issues:* He never intended Bluesky to be an independent company with its own board and stock and other vestiges of a corporate entity (Bluesky spun out of Twitter as a public benefit corporation in 2022.) Instead, his plan was for Twitter to be the first client to take advantage of the open source protocol. Bluesky created.* The fact that Blueksy has some form of content moderation and has occasionally banned users for things like using racial slurs in their usernames.“People started seeing Bluesky as something to run to, away from Twitter,” Dorsey said. “It's the thing that's not Twitter, and therefore it's great. And Bluesky saw this exodus of people from Twitter show up, and it was a very, very common crowd. … But little by little, they started asking Jay and the team for moderation tools, and to kick people off. And unfortunately they followed through with it. That was the second moment I thought, uh, nope. This is literally repeating all the mistakes we made as a company.”Dorsey also confirmed that he is financially backing Nostr, another decentralized Twitter-like service popular among some crypto enthusiasts and run by an anonymous founder. “I know it's early, and Nostr is weird and hard to use, but if you truly believe in censorship resistance and free speech, you have to use the technologies that actually enable that, and defend your rights,” Dorsey said.A lot of this isn't particularly surprising. If you've followed Dorsey's public comments over the last couple years, he's repeatedly said that Twitter's “original sin” was being a company that would be beholden to advertisers and other corporate interests. It's why he backed Elon Musk's takeover of the company. (Not coincidentally, Dorsey still has about $1 billion of his personal wealth invested in the company now known as X.) He's also been very clear that he made many of Twitter's most consequential moderation decisions reluctantly.Unsurprisingly, Dorsey's comments weren't well-received on Bluesky. In a lengthy thread, Bluesky's protocol engineer Paul Frazee said that Twitter was supposed to to be the AT Protocol's “first client” but that “Elon killed that straight dead” after he took over the company. “That entire company was frozen by the prolonged acquisition, and the agreement quickly ended when Elon took over,” Frazee said. “It was never going to happen. Also: unmoderated spaces are a ridiculous idea. We created a shared network for competing moderated spaces to exist. Even if somebody wanted to make an unmoderated ATProto app, I guess they could? Good luck with the app stores and regulators and users, I guess.”While Dorsey was careful not to criticize Musk directly, he was slightly less enthusiastic than when he said that Musk would be the one to “extend the light of consciousness” by taking over Twitter. Dorsey noted that, while he used to fight government requests to take down accounts, Musk takes “the other path” and generally complies. “Elon will fight in the way he fights, and I appreciate that, but he could certainly be compromised,” Dorsey said.FTX crypto fraud victims to get their money back — plus interestPaul Sawers2:53 AM PDT • May 8, 2024Bankruptcy lawyers representing customers impacted by the dramatic crash of cryptocurrency exchange FTX 17 months ago say that the vast majority of victims will receive their money back — plus interest.The news comes six months after FTX co-founder and former CEO Sam Bankman-Fried (SBF) was found guilty on seven counts related to fraud, conspiracy, and money laundering, with some $8 billion of customers' funds going missing. SBF was hit with a 25-year prison sentence in March and ordered to pay $11 billion in forfeiture. The crypto mogul filed an appeal last month that could last years.RestructuringAfter filing for bankruptcy in late 2022, SBF stood down and U.S. attorney John J. Ray III was brought in as CEO and “chief restructuring officer,” charged with overseeing FTX's reorganization. Shortly after taking over, Ray said in testimony that despite some of the audits that had been done previously at FTX, he didn't “trust a single piece of paper in this organization.” In the months that followed, Ray and his team set about tracking the missing funds, with some $8 billion placed in real estate, political donations, and VC investments — including a $500 million investment in AI company Anthropic before the generative AI boom, which the FTX estate managed to sell earlier this year for $884 million.Initially, it seemed unlikely that investors would recoup much, if any, of their money, but signs in recent months suggested that good news might be on the horizon, with progress made on clawing back cash via various investments FTX had made, as well as from executives involved with the company.We now know that 98% of FTX creditors will receive 118% of the value of their FTX-stored assets in cash, while the other creditors will receive 100% — plus “billions in compensation for the time value of their investments,” according to a press release issued by the FTX estate today.In total, FTX says that it will be able to distribute between $14.5 billion and $16.3 billion in cash, which includes assets currently under control of entities, including chapter 11 debtors, liquidators, the Securities Commission of the Bahamas, the U.S. Department of Justice, among various other parties.Apple's Final Cut Camera lets filmmakers connect four cameras at onceHaje Jan Kamps7:38 AM PDT • May 7, 2024The latest version of Final Cut Pro introduces a new feature to speed up your shoot: Live Multicam. It's a bold move from Apple, transforming your iPad into a multicam production studio, enabling creatives to connect and preview up to four cameras all at once, all in one place. From the command post, directors can remotely direct each video angle and dial in exposure, white balance, focus and more, all within the Final Cut Camera app.The new companion app lets users connect multiple iPhones or iPads (presumably using the same protocols as the Continuity Camera feature launched a few years ago). Final Cut Pro automatically transfers and syncs each Live Multicam angle so you can seamlessly move from production to editing.Final Cut Pro has existed in the iPad universe for a while — but when paired with a brand new M4 processor, it becomes a video editing experience much closer to what you might expect on a desktop video editing workstation. The speed is 2x faster than with the old M1 processors, Apple says. One way that shows up is that the new iPad supports up to four times more streams of ProRes RAW than M1.The company also introduced external project support, making it possible to edit projects directly from an external drive, leveraging the fast Thunderbolt connection of iPad Pro.Startup of the WeekExclusive: Wayve co-founder Alex Kendall on the autonomous future for cars and robotsMike Butcher, 7:58 AM PDT • May 7, 2024U.K.-based autonomous vehicle startup Wayve started life as a software platform loaded into a tiny electric “car” called Renault Twizy. Festooned with cameras, the company's co-founders and PhD graduates, Alex Kendall and Amar Shah, tuned the deep-learning algorithms powering the car's autonomous systems until they'd got it to drive around the medieval city unaided.No fancy Lidar cameras or radars were needed. They suddenly realized they were on to something.Fast-forward to today and Wayve, now an AI model company, has raised a $1.05 billion Series C funding round led by SoftBank, NVIDIA and Microsoft. That makes this the UK's largest AI fundraise to date, and among the top 20 AI fundraises globally. Even Meta's head of AI, Yann LeCun, invested in the company when it was young.Wayve now plans to sell its autonomous driving model to a variety of auto OEMs as well as to makers of new autonomous robots.In an exclusive interview, I spoke to Alex Kendall, co-founder and CEO of Wayve, about how the company has been training the model, the new fundraise, licensing plans, and the wider self-driving market.(Note: The following interview has been edited for length and clarity)TechCrunch: What tipped the balance to attain this level of funding?..Full InterviewX of the Week This is a public episode. 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In the dynamic landscape of gaming, the fusion of cutting-edge financial technology and innovative incentives is shaping a new era of player acquisition and engagement. Host Devin Becker leads an insightful discussion with Ben Cousens, Chief Strategy Officer of ZBD, and Paul West, Founder of Fumb Games, on the transformative power of Bitcoin rewards in gaming.  Delving into Fumb's utilization of ZBD technology, they both unveil how this synergy propels gaming retention and LTV through examples of successful games harnessing ZBD's Bitcoin Lightning Network service.Exploring the intersection of financial incentives and traditional user acquisition (UA), the conversation navigates how rewarding players financially complements conventional marketing strategies. Addressing pressing issues in mobile UA and retention, Ben and Paul dissect the system's efficacy in mitigating challenges and fostering sustainable growth. Strategic considerations, such as player segmentation and reward frequency, illuminate the nuanced approach required for optimal results. We explore how this approach manages to be cost effective for game developers by rewarding amounts that are a fraction of LTV while still strongly motivating players.Navigating the complexities of fluctuating Bitcoin prices and the potential for alternative reward forms, including NFTs, tokens and other networks, the discussion forecasts the evolving landscape of gaming incentives for games and potentially gamified apps. As the prospect of moving from free to play to rewarded play becomes potentially more prevalent, the episode raises thought-provoking questions about its trajectory and the ensuing competitive landscape. Join Devin, Ben, and Paul for a compelling exploration of the future where gaming and incentives converge to redefine player engagement.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Anand Kannappan is the cofounder and CEO of Patronus AI, an automated AI evaluation and security company. They have raised funding from Lightspeed Venture Partners, Replit CEO Amjad Masad, Gokul Rajaram, and Fortune 500 executives. He was previously at Meta and Vertis. He was also the cofounder of Kyber Technologies, which was a service to systematically predict market events using AI and remote sensing data. It evolved into a futures quant hedge fund managing $15M for partners. Anand's favorite book: Harry Potter series (Author: JK Rowling)(00:00) Introduction and Common Failure Modes of Large Language Models(03:02) Challenges of Automated Evaluation in AI Models(06:08) The Importance of Fine-Tuning and Retrieval Augmented Generation(09:02) Addressing Copyright Detection in Language Models(11:51) The Liability of Companies Using AI Models(15:02) Advancements in Multimodal Models and State Space Models(20:48) The Role of Fine-Tuning in the Evolution of Language Models(23:51) The Significance of Adversarial Testing in AI(25:56) The Role of Retrieval Augmented Generation in AI(28:05) The Need for Continuous Function Optimization in Prompting(29:02) Rapid Fire Round--------Where to find Prateek Joshi: Newsletter: https://prateekjoshi.substack.com Website: https://prateekj.com LinkedIn: https://www.linkedin.com/in/prateek-joshi-91047b19 Twitter: https://twitter.com/prateekvjoshi 

Larsen Jensen, the Founder and General Partner of Harpoon Ventures, is a pioneer in the world of venture capital, having co-founded one of Silicon Valley's first dual-use VC firms, now boasting over $300 million in assets under management. With a keen eye for innovation, Larsen has led numerous investments in defense tech, cybersecurity, AI, enterprise infrastructure, and frontier technology. But Larsen's journey to success is as remarkable as it is multifaceted. Before venturing into the realm of venture capital, he carved out a legacy in the world of athletics, earning two Olympic medals in swimming (2004 and 2008) and setting the American record in the 400m event. Following his Olympic triumphs, Larsen transitioned to serve as a Navy SEAL, further demonstrating his unwavering dedication to excellence and service. With a diverse background spanning investment and asset management roles at prestigious firms including UBS, Goldman Sachs, Andreessen Horowitz, and Lightspeed Venture Partners, Larsen brings a wealth of experience and insight to every conversation. A graduate of USC with a Bachelor's degree and Stanford with an MBA, Larsen's journey embodies the intersection of athleticism, entrepreneurship, and investment acumen. Join us as we uncover the extraordinary stories and invaluable lessons that have shaped Larsen's path to success. Follow Harpoon Ventures on LinkedIn. Follow My Fame, Explained on: ⁠⁠Facebook⁠⁠ ⁠⁠Instagram⁠⁠ ⁠⁠TikTok⁠⁠ ⁠⁠LinkedIn⁠⁠ ⁠⁠YouTube

Arthur Mensch is the Co-Founder and CEO of Mistral AI. Since its inception in May 2023, Mistral has raised over $520M in funding from investors like Andreeseen Horowitz, General Catalyst, Lightspeed Venture Partners, and Microsoft with a current valuation of $2 billion. Before founding Mistral, Arthur was a research scientist at DeepMind, one of the leading AI institutions in the world. In Today's Episode with Arthur Mensch We Discuss: From Models to Team Building: Arthur's Greatest Lessons at DeepMind What were Arthur's biggest lessons from his time at DeepMind? How did DeepMind shape how Arthur built Mistral? Why does Arthur believe smaller teams are better for AI? Why did Arthur decide to leave DeepMind and start Mistral? Scaling Mistral to $2 Billion Valuation Within a Year What made Mistral 7B so successful? What did Arthur learn from the model release? What are the biggest barriers at Mistral today? How does Arthur balance the sales and research teams at Mistral? What does Arthur know now that he wishes he had known when he started Mistral? How to Win in AI: Open Source, Cost, & Adoption Why did Arthur open-source some models? Why did he close some? How quickly will the cost of compute go down? Why does Arthur believe marginal costs will not go to zero? How will open-sourcing LLMs affect the marginal cost? Does Arthur think open source is ready for enterprise adoption? What questions should enterprises be asking about AI adoption today? What are the biggest challenges to AI adoption today? The Future of LLMs What does Arthur think are the largest bottlenecks of model quality today? Does Arthur think future models will be more generalized or vertical-focused? What does Arthur think about the future of commoditization in models? Why is Arthur optimistic about the profitability of the application layer of AI? How should models differentiate themselves today?  

This episode is a compilation of 6 of the most powerful women featured on the So This Is My Why podcast, discussing the milestones that led them on their journey to successEp 124: Jacqueline Novogratz Jacqueline is the founder & CEO of Acumen - a non-profit global venture capital fund that aims to use entrepreneurial approaches to address global poverty. As the OG of impact investing, she shares her experience in Rwanda and learning that the most important thing is to build something where you leave no footprint behind.And how there is no such thing as black & white. Everyone has an angel and demon within them that comes out at different times.

Subscribe to my newsletter The Split for new episodes emailed every week: https://www.thespl.it/ Brought to you by Attio, the next generation of CRM: https://bit.ly/AttioThePeel Mike is currently a partner at Lightspeed Venture Partners. Before Lightspeed, he spent five years building Anchor, which he sold to Spotify in 2020, and then led Spotify's podcast, video, and live products for three years. It's probably safe to assume every podcast you listen to uses Mike's product, and we go way back to the very beginning and talk through how the team at Anchor pulled it all off.Mike also shares his frameworks of “Doing the Dumb Thing” and "Super Goals," which are high-stakes, focusing goals with a clear and urgent time frame, open-ended method of achievement, and a single measure of success. Chapters: (00:00) Intro (4:22) Why AI makes consumer investing interesting again (8:05) Podcasting in the early 2010's (14:03) The benefits and drawbacks of RSS (21:50) Building v1 “Instagram for audio” (25:53) Advice for building a close-knit community (29:28) Raising their first small round (31:38) Inside their splashy launch at SXSW (39:17) Why the first product failed, but allowed them to raise money to build Anchor (45:26) What makes a good product founder (47:39) Re-launching v2 a year later (53:51) What is a Super Goal (56:32) Finding Product Market Fit with months of runway left (59:02) Getting to a million podcast creators (01:02:09) Launching the first podcast ad network (01:04:10) Why anchor started sponsoring its own ad network (01:08:13) Spotify's acquisition of Anchor (01:14:22) How Spotify won in podcast market share (01:16:34) Why the future of podcasts is video Referenced: Mike's Podcast “Generative Now”: https://www.youtube.com/playlist?list=PLXW6zY9x-gk1oPyjZ_qBCDEYKTbPpGa8S Mike's blog posts: https://mignano.substack.com/p/the-standards-innovation-paradox https://mignano.substack.com/p/the-power-of-supergoals https://mignano.substack.com/p/startups-vs-incumbents-the-battle https://mignano.substack.com/p/all-podcast-roads-lead-to-video Where to find Mike: Twitter: https://twitter.com/mignano LinkedIn: https://www.linkedin.com/in/mignano Where to find Turner: Twitter: https://twitter.com/TurnerNovak LinkedIn: https://www.linkedin.com/in/turnernovak/ Newsletter: https://www.thespl.it/

DoF Newsletter: https://www.deconstructoroffun.com/subscribe Hemal Thaker https://www.linkedin.com/in/thakerhemal/ Moritz Baier-Lentz https://www.linkedin.com/in/moritzbaierlentz/ In this eye-opening podcast, industry insiders Hemal and Moritz provide candid insights into the current state of the gaming industry, discussing market challenges, the impact of layoffs, the dynamics of venture capital and publisher models, the potential of Web 3, the role of AI, and predictions for the future. From navigating downturns to seizing emerging opportunities, this conversation offers valuable advice for founders and executives alike, shedding light on the realities of the gaming landscape while inspiring optimism for the road ahead. --- Send in a voice message: https://podcasters.spotify.com/pod/show/deconstructoroffun/message Support this podcast: https://podcasters.spotify.com/pod/show/deconstructoroffun/support

In this week's Roundtable, the squad unpacks the seismic impact of Nintendo's legal victory, securing a $2.4M settlement against the Switch emulator Yuzu, a move that has dramatically reshaped the emulation landscape. We then pivot to Netflix's strategic foray into gaming, spotlighting its latest coup in bringing the critically acclaimed indie darling Hades to mobile platforms, signaling a deeper commitment to integrating premium gaming into its ecosystem. The conversation shifts to the ever-evolving acquisitions landscape, including the recent sales of Saber Interactive's and Jagex, which hints at private equity's growing role in the gaming industry's future. Amid the flurry of industry upheavals, we also take a moment to shine a light on the positive trends and standout successes that have emerged early in 2024, offering a counter-narrative to the often gloomy industry headlines. Join us for all the latest games business news with Aaron Bush, Anil Das-Gupta, and host Devin Becker.If you'd like to speak with Naavik at GDC, please use this form to let us know! https://9r0y051mvrx.typeform.com/to/hRCVP7VNWe'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback, shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

In this week's Roundtable, the squad dives into Disney's $1.5 billion investment in Epic Games, aiming to create custom Fortnite-related experiences. We speculate on what Disney's persistent world might look like, especially in light of its potential connections to Fortnite and the recent Lego collaboration. Then, we shift gears to discuss Mythical Games' settlement of its lawsuit against Fenix Games, concerning a significant $150 million investment debacle. The conversation takes an optimistic turn with the successful launch of Heroes of Mavia, a mobile web3 game, and what its early success could mean for the future of web3 mobile gaming. We also marvel at Palworld's explosive growth to 19 million players across Xbox and PC, highlighting the potential for smaller studios in today's competitive landscape. Finally, we tackle WB's latest foray into live service games with Suicide Squad: Kill the Justice League, dissecting the challenges and consumer backlash faced by transitioning beloved franchises into the live service model. Join us for all the latest games business news with Anil Das-Gupta and host Devin Becker.We'd also like to thank Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.If you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback, shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

In this week's Roundtable, we explore the gaming highlights from the 2024 Consumer Electronics Show and joke about what trends are peaking in ridiculous ways (AI-powered egg cartons, anyone?). We then dive into a couple strategy changes being discussed by leading subscription businesses: first, how Netflix is reportedly rethinking ways to monetize games, and, second, what Xbox (with Game Pass) may be planning in bringing previous exclusives to the PlayStation 5. We then discuss Unity's and Twitch's major layoffs and what these may foreshadow for the remainder of 2024. Additionally, we explore Second Dinner's large $100M Series B amidst the uncertainty surrounding its publisher Nuverse. Finally, the squad shares new ideas for what M&A markets may deliver in 2024. Join us for all the latest games business news with Dave Elton, Aaron Bush, and host Devin Becker.Big thanks to Lightspeed Venture Partners for making this episode possible! With its dedicated gaming practice, "Lightspeed Gaming," the firm is investing from over $7B in early- and growth-stage capital — the by far largest fund focused on gaming and interactive technology. If you're interested in learning more, go to https://gaming.lsvp.com/.We'd also like to thank Coda Payments for making this episode possible! Coda helps developers collect some of their revenues outside the app stores, keeping more of the income they generate for themselves. To learn more, head to https://www.codapayments.com/naavik?utm_source=newsletter&utm_medium=webpage&utm_campaign=naavikIf you like the episode, please help others find us by leaving a 5-star rating or review! And if you have any comments, requests, or feedback, shoot us a note at podcast@naavik.co. Watch the episode: YouTube ChannelFor more episodes and details: Podcast WebsiteFree newsletter: Naavik DigestFollow us: Twitter | LinkedIn | WebsiteSound design by Gavin Mc Cabe.

Jake Seid is the Co-Founder and General Partner at Ballistic Ventures, a VC firm focused on early-stage cybersecurity and security-related venture investments, with a debut fund of $300M. Before working at Ballistic, Jake was a Managing Director at Lightspeed Venture Partners and founder and Managing Director at Stone Bridge Ventures—his portfolio includes Blend, Brex, Bolt, Abnormal Security, Carta, Cresta.ai, Drata, and more.    You can learn more about:  Investing trends in the cybersecurity space Starting and building a successful fund  How to attract the best founders  ===================== YouTube: @GraceGongCEO Newsletter: @SmartVenture LinkedIn: @GraceGong TikTok: @GraceGongCEO IG: @GraceGongCEO Twitter: @GraceGongGG ===================== Join the SVP fam with your host Grace Gong. In each episode, we are going to have conversations with some of the top investors, superstar founders, as well as well-known tech executives in silicon valley. We will have a coffee chat with them to learn their ways of thinking and actionable tips on how to build or invest in a successful company.

Sebastian Duesterhoeft of Lightspeed Venture Partners joins Nate to discuss Are Software Businesses Defensible? What is the S curve and How to Time it, and Lessons from Investing in Snowflake, Databricks, and Confluent. In this episode we cover: Investing in a Challenging Market with a Growth Investor AI Technology, Its Impact & Potential to Disrupt Industries and Create New Opportunities Investment Strategies and Price Dynamics in the Startup Space Investing in Enterprise Software Companies, Including S-Curve Analysis Market Size and Potential for a New Endpoint Security Player Determining the Size of the Queue for Cloud Security and Software Development Market Sizing, Vertical SAAS, and Software Margins Investing, Brand, and Distribution in the Tech Industry Guest Links: Twitter LinkedIn Lightspeed Venture Partners The hosts of The Full Ratchet are Nick Moran and Nate Pierotti of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter. Are you a founder looking for your next investor? Visit our free tool VC-Rank and we'll send a list of potential investors right to your inbox!

In a recent episode of The Dealmakers' Podcast, we had the privilege of speaking with the visionary leader behind V8, a groundbreaking cybersecurity company that is transforming the landscape of digital protection. This conversation delved deep into V8's journey, from its inception to remarkable accomplishments. His venture, Resilience Insurance has attracted funding from top-tier investors like General Catalyst, Lightspeed Venture Partners, Corey Thomas, and Intact Ventures.