🔦 Spotlight
Happy Friday Los Angeles! And an EXTRA happy Friday to Russell Palmer at CyberFilm AI for referring new subscribers to dot.la.
Unless you are Patrick Star and have been living under a rock for the past week, you are aware that the Writers Guild of America (WGA) and Hollywood studios have reached a tentative agreement. As this is a tech newsletter, we will concentrate on two key deal points: streaming topics and artificial intelligence protections, although it's important to note that the main deal points also encompass minimum staffing requirements and pay increases. ✍️🎬🌟
Image Source: Allen J. Schaben / Los Angeles Times
Following a 148-day strike, Hollywood writers are returning to work as the Writers Guild of America (WGA) announces a tentative agreement with studios and streamers. The agreement, which is likely to be ratified by the WGA's 11,500 members, marks a significant moment in the industry's history. Here are the key provisions related to streaming and artificial intelligence (AI):
Streaming Provisions:
- Streaming platforms like Netflix and Disney+ will provide transparency by sharing viewership data, both domestically and internationally, for original streaming series with the WGA.
- New bonus structures for made-for-streaming shows and movies based on viewership.
AI-related Provisions:
- The agreement clarifies that AI cannot write or rewrite scripts, maintaining the creative role of human writers.
- Writers have the option to use AI with company approval, but companies cannot mandate its use.
- Studios retain the ability to train AI using scripts, but writers have the right to challenge this use in the future.
So what does this all mean…
The far-reaching implications of the deal for AI and streaming are significant and have the potential to reshape the entertainment industry:
- Increased Transparency in Streaming: The requirement for streaming platforms to provide viewership data for original content brings greater transparency to the industry.
- Incentivizing Content with Mass Appeal: The provision for bonuses based on viewership performance incentivizes the creation of content for the masses.
- Protection of Creative Control: The stipulation that AI cannot write or rewrite scripts and that writers have the choice to use AI with company approval preserves the creative control of human writers.
- Balanced Use of AI: By allowing writers the option to use AI but not requiring its use, the agreement strikes a balance between harnessing AI's potential for efficiency and creativity while respecting writers' autonomy.
- Future AI Challenges: The provision that allows writers to challenge the use of AI in the future implies that the role of AI in content creation remains an evolving and debatable issue.
- Impact on Industry Standards: This deal sets industry standards for how AI and streaming are integrated into content creation and distribution. This is particularly relevant to the actors union, SAG-AFTRA, which remains on strike and recently authorized a strike against the video game industry.
These provisions reflect the evolving landscape of the entertainment industry, providing writers with greater control over their work and more transparency in the age of streaming and artificial intelligence. 🎭📜📺
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🤝 Venture Deals
LA Startups
- Crediverso, the Spanish and English language consumer technology company dedicated to providing financial and educational resources to underserved communities, raised a $3.5M Seed Round led by Torch Capital and Gaingels, joined by Bessemer Venture Partners and Act One Ventures. - learn more
- Arc, the electric boat startup, raised a $70M Series B from a slew of investors, including Eclipse, Andreessen Horowitz, Lowercarbon Capital, Abstract Ventures and Menlo Ventures.- learn more
- Sensible Weather, a climate finance platform raised an undisclosed amount from Amex Ventures, Wonder Ventures, Infinity Ventures and Industry Ventures. - learn more
LA Funds
- Tech Coast Angels participated in a Seed Round of an undisclosed amount for Giftpack, an AI-powered corporate gifting platform. - learn more
- M13 participated in a $10M Funding Round for Allocate, a platform that provides investors with a streamlined way to invest and manage private investments. - learn more
- Griffin Gaming Partners and Courtside Ventures led a $22M Funding Round for Eloelo, an Indian gaming and livestreaming platform. - learn more
📅 LA Tech Calendar
Monday, October 2nd
Tuesday, October 3rd
Wednesday, October 4th
- The MedTech Conference Kick-Off Mixer - Engage with industry pioneers, discover cutting-edge technologies, forge valuable connections with LA MedTech leaders, LA investment leaders, LA academic leaders and more in Culver City Wednesday night.
Friday, October 6th
🗽 - Free
🌍 Around The Internet
USC Students and Alumni Blend Tech and Wine for Humanitarian Impact with Raise a Glass
Founded by USC students and alumni, Raise A Glass is creating wine with a purpose. They bring innovative storytelling technology to raise awareness for the invisible heroes of global crises. Their mission starts in Ukraine addressing the fact that Americans have become increasingly desensitized to Russia's invasion of Ukraine. They pair tales of Ukrainian civilian heroism with wine bottles, curating content from conflict-embedded artists to provide a platform for these stories to reach thousands of consumers. Through QR codes or augmented reality on labels, consumers access these impactful narratives, with proceeds aiding Ukrainians in escaping conflict zones.
Ukraine serves as just the outset, as they plan to employ their storytelling technology to shed light on global crises, amplifying the voices of these unsung heroes.
📙 What We’re Reading
- Universal Hydrogen kicks off flight test campaign for Its hydrogen regional aircraft at the Mojave Air & Space Port. -
- Waymo begins testing the waters for a robotaxi service in Los Angeles. -
- Social networking club Groundfloor aims to connect professionals at first L.A. location -
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Bird crashes, ServiceTitan soars, active raises, and more
Jun 06 2024
Happy holidays from dot.LA! We’re collecting 2024 predictions for Los Angeles, tech, and startups. Reply to this email to get your prediction featured in our next weekly update.
🔦 Spotlight
It’s the best of time and worst of times for two of the most prominent Los Angeles tech companies.
Formerly high-flying Santa Monica startup Bird (now based in Miami) filed for chapter 11 bankruptcy protection, capping a slow fall from grace since it peaked at a $2.5B valuation in 2019. Once a crown jewel of the LA tech scene, the scooter sharing company went public via SPAC in 2021 before seeing its share price tumble and regulatory burden increase in the municipalities in which it operated. Eventually Bird’s market cap shrank below $15M, and it was delisted from the NYSE in September 2023. With its bankruptcy filing, Bird will proceed with a sale of its assets to the highest bidder, an ignominious end for what was once the hottest startup in America.
Yet where one LA startup falls, another rises. This week, it was reported by Reuters that Glendale-based ServiceTitan has revived plans for an IPO in 2024. ServiceTitan provides software to help technicians and contractors (electricians, HVAC professionals, plumbers, etc.) run their businesses better. The company was founded in 2007 and has raised over $1.4B from investors like LA-based Mucker Capital, Bessemer Venture Partners, Coatue, and Battery Ventures.
🤝 Venture Deals
Actively Raising
- CZero, a hard-tech startup that is developing a technology for decarbonizing natural gas, is raising a $1.5M Seed Round. - learn more
- Couri, a technology startup addressing last-mile delivery issues, is raising a $450K Pre-Seed Round at a $2.2M post money valuation. - learn more
- Sweetie, a marketplace to help people plan date nights, is raising a $250K Angel Round. -
- StartupStarter, an investment platform that provides real-time data and analytics on startups, is raising an $850K Angel Round. - learn more
If you’re a founder raising money in Los Angeles, give us a shout, and we’d love to include you in the newsletter!
Just Announced
- rabbit inc., a three-year-old LA startup creating a personalized operating system through a natural language interface, raised a $10M Series A from Khosla Ventures - learn more
- Liminal Space, a four-year-old LA startup trying to create headset-less virtual reality, raised $2.5M. Investors included Avex, Hibino Corp., and Luminus. - learn more
LA Exits
- Alteryx, an Irvine-based public analytics and data-science company announced that it would be acquired by private equity firms Clearlake Capital Group and Insight Partners in a deal worth $4.4 billion. - learn more
🚗 Toyota Launches H2HQ in Advanced Gardena
May 10 2024
🔦 Spotlight
Image Source: Toyota
Toyota has transformed its facility in Gardena, CA, into a hydrogen research and development center to capitalize on the expanding market for hydrogen technology in California. With three decades of experience in hydrogen-powered mobility, Toyota is aligning with California's efforts to transition to fuel cells, particularly in the trucking and stationary power sectors. The facility, now named North American Hydrogen Headquarters, will house around 50 engineers and specialists focused on advancing both vehicle and stationary power applications. The revamped office space will serve as a hub for research, development, and commercialization of hydrogen-related products and technologies. Additionally, they have plans to expand the campus with features like a flexible microgrid and sustainable education center for people to learn more about sustainability and hydrogen's role in it. Toyota's President and CEO, Ted Ogawa, emphasizes their commitment to scalable, zero-emission technology and reducing carbon emissions through real-world products like the Mirai fuel-cell car.
Despite challenges such as a shortage of hydrogen refueling stations, Toyota is leveraging its resources to scale up hydrogen technology. The company operates a hydrogen stationary power at its Long Beach port facility, using biomass waste gas to produce clean hydrogen. California's stringent regulations, including requiring newer trucks and buses and eventually banning all internal combustion trucks by 2036, are driving the adoption of clean technologies..
🤝 Venture Deals
LA Companies
- Mother Science, a biotech skincare brand, raised a $3.5M Funding Round led by Greycroft. -
- Rainmaker, a cloud-seeding startup, raised a $6.3M Seed Round from Long Journey Ventures, Day One Ventures, Tamarack Global, 1517 Fund, Starship VC, Champion Hill Ventures, Garry Tan, and Balaji Srinivasan. - learn more
- Elementary, an AI-powered machine vision software developer, raised an undisclosed amount from Rockwell Automation. - learn more
LA Venture Funds
- Joyful Ventures co-led a $2.3M Pre-Seed Round for Maia Farms, a startup that specializes in producing and supplying mycelium-based products primarily targeting the meat alternatives market. - learn more
- Magic Fund participated in a $1.9M Funding Round for Renda, a startup that offers African businesses services such as warehousing, fulfillment, and last-mile delivery. - learn more
- Fika Ventures co-led a $4.1M Seed Round for Volta, a startup that focuses on providing financial institutions with tools and services to manage and optimize their cryptocurrency portfolios. - learn more
- OCV participated in a $50M Series B for Rad AI, a provider of AI-guided tools for radiologists. -
- Unlikely Capital Partners participated in a $14M Series A for Backpack Healthcare, an online provider of pediatric mental health care. - learn more
- B Capital led a $20M Series B for Sift Healthcare, an AI-powered healthcare payment solutions company. - learn more
LA Exits
- Bar Bakers, a nutritional snack maker, was acquired by TruFood Manufacturing. -
🤖 🏥 How Robots and Artificial Intelligence Are Saving Lives in Los Angeles Hospitals
May 03 2024
🔦 Spotlight
Image Source: Children’s Hospital Los Angeles
The integration of robots and artificial intelligence (AI) is transforming healthcare in Los Angeles, with hospitals increasingly employing these technologies to enhance patient care and operational efficiency. According to a Morgan Stanley report from August 2023, 94% of healthcare companies are utilizing AI or machine learning (ML), with the industry's budget allocation for AI and ML projected to double from 5.7% in 2022 to 10.5% this year. These technologies are being used for various applications, from autonomous robots delivering medications to AI systems predicting emergency room wait times and identifying life-threatening infections like sepsis (the third most common cause of death in U.S. hospitals).
Institutions like City of Hope are pioneering AI applications in healthcare, such as real-time clinical decision support tools. City of Hope's sepsis prediction model utilizes AI to monitor patients and detect subtle changes in their vitals, providing early alerts to medical staff, which has led to decreased ICU admissions and improved patient outcomes. Similarly, Antelope Valley Medical Center has implemented autonomous robots like Diligent Robotics Inc.'s Moxi to streamline medication and lab deliveries, reducing staff workload and enhancing efficiency.
Cedars-Sinai is leveraging AI through its CS Connect app, utilizing a chatbot to interact with patients and assist in scheduling appointments and providing diagnostic insights to physicians. Moreover, the hospital is actively combating AI bias to ensure fair and accurate treatment across patient demographics. UCLA Health's Robotic Surgery program, led by Dr. Mark Girgis, has been utilizing robotic surgery for over seven years, offering enhanced recovery, less pain, and shorter hospitalizations for patients. Girgis highlights the benefits of competition driving down costs and improving accessibility to robotic surgery platforms, such as the Da Vinci surgical systems.
The widespread adoption of AI and robotics in Los Angeles hospitals not only represents significant advancements in healthcare but also offers opportunities for the city's tech industry. Hospitals like Cedars-Sinai and Children's Hospital Los Angeles are leading the way with innovative AI-driven solutions. As a result, LA has the potential to attract top health tech talent, bolstering its growing health tech sector.
🤝 Venture Deals
LA Companies
- Diddo, a startup that uses computer vision to identify products in videos and enables viewers to purchase products seen on screen without leaving the video, raised a $2.8M Seed Round led by Link Ventures - learn more
- Shinkei Systems, a developer of fish-processing tech, raised a $6M Seed Round led by Cantos and joined by 8VC, Impatient Ventures, Susa/Humba Ventures, Carya Venture Partners, Ravelin Capital, Red & Blue Ventures, and Undeterred Capital - learn more
- Moso, a shop-to-earn crypto rewards startup, raised a $2M Seed Round from Symbolic Capital, Dao5, Coinlist, and Polygon Ventures - learn more
- Holograph, a startup whose platform enables the creation and management of tokens that can operate across multiple blockchain networks, raised an $11M funding round co-led by Mechanism Capital and Selini Capital, with Northrock Capital, Arca, Courtside Ventures, and Hartmann Capital also stepping up - learn more
- LiNova Energy, a developer of polymer cathodes for batteries, raised a $15.8M Series A led by Catalus Capital and joined by Saft - learn more
- Altruist, a custodian for RIAs, raised a $169M Series E led by Iconiq Growth and joined by Granite Capital Management in addition to insiders Adams Street Partners and Sound Ventures - learn more
LA Exits
- Insight Treatment Programs, a provider of teen outpatient programs for mental health and addiction treatment in Southern California was acquired by Torrance, CA-based Your Behavioral Health, a portfolio company of Comvest Partners - learn more
- SameSky Health, a patient engagement company merged with Tampa, FL-based GroundGame.Health, a startup linking community-based organizations with health plans and providers. After they combined the company raised a $17M funding round led by 7wireVentures - learn more
- Viking Holdings Ltd, a cruise operator based in Woodland Hills raised $1.5B in its IPO. On Wednesday Viking (VIK) closed at $26.10, 9% higher than the IPO price ($24) - learn more
📖 What We’re Reading
- Triller Corp., the Hollywood rival to TikTok, is being bought in an astounding $4 billion deal by AGBA Group Holding Ltd - learn more
- Despite the somewhat bleak gaming venture landscape, Santa Monica's Griffin Gaming Partners gears up for expansion, tapping into Hollywood's top talent and exploring new avenues in IP licensing and investment - learn more
- Sony and Apollo bid $26 billion for Paramount Global, intensifying the competition for the renowned film and TV company - learn more
- Rivian will receive an $827 million incentive package from Illinois to expand its manufacturing plant - learn more
- SAG-AFTRA partners with Nielsen for third-party streaming content measurement, ensuring transparency and accuracy in tracking hits on platforms like Netflix and Prime Video - learn more
- New platform, ProdPro Network, aims to help Hollywood crew members find work -
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