Columbus, OH

Business Insider

It's been a difficult two years for VCs, from difficulty raising money to subpar valuations. That's left some investors heading for the exits.

Turns out being a venture capitalist can be really hard and some VCs want out

VC investors — from analysts to partners — have grown increasingly frustrated and disillusioned with the industry.

Venture capital's new reality check: 'A ton of people looking to get out everywhere'

The trio founded Flourish Ventures in 2019 and now the firm has $850 million under management, last raising a $350 million fund in October 2023. Flourish invests all over the world, backing fintech startups in the U.S., and across Africa, Asia and Latin America. Notable investments include digital bank Chime, Brazilian neobank Neon, which was last priced at $1.6 billion, embedded finance startup Unit and African payments infrastructure company Flutterwave.

Flourish Ventures on repeat founders, emerging markets and when not to hop on the AI bandwagon

Fortune

On Monday generative AI model startup Cohere celebrated a fresh $500 million in new funding at a $5.5 billion valuation, and on Tuesday  company said it was laying off about 20 employees (out of close to 400).

A day after raising $500 million, AI startup Cohere told staff it was laying off about 20 employees

The AdvancingCities program, which launched in 2022, saw the launch of accelerator programs across the nation in cities like Oakland, New York, Miami and Washington, D.C. with the goal of backing more diverse founders. J.P. Morgan sponsored the program with a commitment through December, but the relationship between the bank...

Techstars is laying off 17%, ending its J.P. Morgan-backed programs

Philadelphia, PA

Run by Danae Mobley, Coded By Kids is a nonprofit organization based in Philadelphia that trains teenagers to become IT industry leaders, whether they are in the C-suite or leading their startups. The organization was started in 2014 by Danae’s husband, Sylvester Mobley. She was most recently elevated to the...

Meet the CEO making it possible for Black youth to own multimillion-dollar tech startups

JPMorgan Chase has rolled out a generative AI assistant to tens of thousands of its employees, the initial phase of a broader plan to inject the technology throughout the bank. The program, called LLM Suite, is already helping more than 60,000 employees with tasks like writing emails and reports. The...

JPMorgan Chase is giving its employees an AI assistant powered by ChatGPT maker OpenAI

When Instagram gained popularity, the app was all about getting that single, perfect photo to share with your followers. As the years passed, the idea of “photo dumps” gained popularity, as users started posting a collection of photos and videos in a carousel format instead of stressing over selecting a singular image.

Instagram is embracing the ‘photo dump’

Entrepreneur

Alexandr Wang dropped out of MIT to create his own AI startup. His net worth is now $2 billion.

These Are the AI Skills You Should Learn Right Now, According to the World's Youngest Self-Made Billionaire

The musician and mogul's firm Marcy Venture Partners may be undergoing a merger with Pendulum Holdings, a firm co-founded by Barack Obama's former financial advisor. Jay-z is reportedly making major waves in the venture capital space. The music legend and mogul’s venture capital firm, Marcy Venture Partner may be laying...

Jay-Z's Venture Capital Firm Is Reportedly Laying Plans To Deploy A Merger That Could Be Valued At $1B

As differentiated as AI startups try to be, the market has undeniably become crowded.

In an oversaturated market for AI companies, these startups have the best shot at surviving

The home security company did not say when the cyberattack and data breach occurred, but disclosed that the attackers accessed the company’s databases containing customer home addresses, email addresses and phone numbers. In a brief regulatory filing published late Wednesday, ADT said it has “no reason to believe” that...

Home security giant ADT says it was hacked

The Hill

The National Conference of State Legislatures’ annual Legislative Summit is the largest policy conference in America. Every August, a thousand or more lawmakers spend a few days packed in ballrooms and breakout sessions to hear what’s working, and what’s not, in an eclectic array of policy areas.

The year of AI

Truist has named Wells Fargo and JPMorgan Chase veteran Steve Hagerman as its next chief information officer, effective Oct. 28. Hagerman, currently CIO of consumer technology at Wells, will report to CEO Bill Rogers and replace Brad Bender. Bender became interim CIO in April after Scott Case, who had been...

Truist names JPMorgan, Wells Fargo vet as CIO

New York Post

A trio of key OpenAI executives have left their posts in the latest leadership shakeup at CEO Sam Altman’s firm.

Greg Brockman, OpenAI’s president and one of its 11 co-founders, revealed that he is taking an extended leave of absence through the end of the year.

“I’m taking a sabbatical through end of year. First time to relax since co-founding OpenAI 9 years ago,” Brockman wrote on X. “The mission is far from complete; we still have a safe AGI to build.”



Another co-founder, John Schulman, jumped ship to take a position at OpenAI rival Anthropic. Schulman helped lead the OpenAI team responsible...

Three OpenAI executives exit firm, go on leave in latest shakeup

Palantir is succeeding as a company, but is the stock already too expensive?. Palantir Technologies (PLTR 10.58%) has become one of the premier artificial intelligence (AI) software companies thanks to its long history in the field. While some companies have only started integrating AI features within the past few years, Palantir has been doing so since its founding in 2003.

Where Will Palantir Be in 5 Years?

Note that net revenue represents the sum OpenAI keeps after paying Apple’s and Google’s in-app purchase fees. In addition, the firm found that Apple’s App Store accounted for 83% of the app’s revenue — a figure that has grown 20% since June. Before app store...

ChatGPT’s mobile app just had its biggest month yet

Ernie Higa, chairman and CEO of the food company, discusses the outlook for the Japanese yen and its impact on business.

Japanese yen: A range of 130-135 is something 'people can deal with,' says Higa Industries

But then, on May 6, the authorities updated LockBit’s old site page and announced that they would be revealing the identity of LockBit’s administrator. “Who is LockBitSupp?” read a box on the site, which also included a 24-hour countdown. When cybersecurity researcher Jon DiMaggio saw the...

How a cybersecurity researcher befriended, then doxed, the leader of LockBit ransomware gang

The most interesting of the trio, however, has to be the $299 Looking Glass Go. Pricing has always been the biggest barrier to entry for the company’s holographic displays. While scaling production will continue to bring per-unit costs down, the technology has been largely price prohibitive. Looking Glass first...

Looking Glass’ new lineup includes a $300 phone-sized holographic display

NewsBreak

Anysphere, a GitHub Copilot rival, has raised $60M Series A at $400M valuation from a16z, Thrive, sources say

The round was co-led by Andreessen Horowitz and Thrive Capital. Patrick Collison, co-founder and CEO of Stripe, also participated in the round. Anysphere, a16z and Collison...

Anysphere, a GitHub Copilot rival, has raised $60M Series A at $400M valuation from a16z, Thrive, sources say

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