📶 OpenAI is coming to the iPhone

Say “hey” 👋 | Apply 👥 | Upgrade 📶 | Affiliate 💸 | Sponsor 📣

Good morning 👋

People are still unpacking all of the announcements from Apple’s WWDC.

The biggest one that most people (ourselves included) is the OpenAI integration announcement and the question about whether Apple is trading its privacy-focused brand in exchange for the licensing agreement.

That combined with the fact that OpenAI is owned by Microsoft and ChatGPT has already exhausted the internet for training data has a lot of people scratching their heads.

Only time will tell … we should know the answer in a few years.

P.S. 🤫 We’ve launched a premium newsletter to bundle all of our best offerings under one subscription.

Here’s how to get your first month FREE.

TL;DR:

• 📰 News

• 🔗 Links

• 🐥 Tweet

• 💰 Funds

• ™️ Startups

• 📶 Recs

• 🗳 Poll

HEADLINES
Apple // OpenAI 🤖

• Apple Intelligence: every new AI feature coming to the iPhone and Mac (The Verge)

• Global Ad Revenue Will Hit $1 Trillion Faster Than Expected, GroupM Forecast Says (The Wall Street Journal)

• ‘Anti-Woke’ Shareholders Are Going After Corporate Boards (The Wall Street Journal)

• Elon Musk threatens to ban Apple devices from his companies over Apple’s ChatGPT integrations (TechCrunch)

• The VC queen of portfolio PR, Masha Bucher, has raised her largest fund yet: $150M (TechCrunch)

• Most-Active US Investors In May: Andreessen Horowitz And General Catalyst Lead Month With A Lot Of Big Rounds (Crunchbase)

• Gen AI’s prompt for GPs: Are you a disruptor or a disruptee? (Pitchbook)

• Battery Ventures is rethinking how it assesses revenue quality in its industrial tech and life science tools practice. (Fortune)

• New York to Sign Bill into Law Banning ‘Addictive’ Algorithms for Children (The Information)

• American AI Startups Relocate China-Based Engineers (The Information)

LINKS

💣 This Message Will Self-Destruct in 33 Seconds: The average American attention span keeps falling.

🤕 Some VCs Are Leaving Their Firms: But its’ the founders they backed who often get hurt.

🧬 Humans Are Exceptional: They aren’t just some form of bacteriq that overran the planet.

😕 Why Acceptance of Failure is Critical to Startup Success: Mark Suster tells how failure can be a good thing if lessons are learned.

📋 How To Negotiate a Term Sheet: Jamie Goldstein’s thoughts on the possibilities.

✋ Grit or Quit?: Annie Duke, a former poker pro, bestselling author and decision science expert, says quitting is an underrated startup skill.

🚅 Speed as a Habit: All else being equal, the fastest company in any market will win.

🪩 Why Great Executives Avoid Shiny Objects: They do less but complete more by avoiding the shiny objects and distractions.

📋 Ultimate VC Resource Library: 350+ resources to help you become a more effective VC investor

🧭 Confluence.VC Navigator: Our internal navigator tool to help readers find what they’re looking for

TWEET

REFER
Earn free stuff 🎁

You can get free gifts by telling your friends and family to sign up 👇

You currently have 0 referrals, only 1 away from receiving 77 Tools That Make Up the VC Tech Stack .

Copy & paste this link: https://confluencevcweekly.beehiiv.com/subscribe?ref=PLACEHOLDER

FUNDS

P.S. 👉 If you’re looking to get a new VC job … 

We’ve found the best way to do that is to find the jobs before they become available. In our opinion, the best way to do that is to a) find who is raising funds and b) find who is the right person to contact at each of those funds.

Lucky for you, we’ve already collected all of that information for you.

Here’s how to see all the information we have on funds (plus contact info)

STARTUPS (Together with Harmonic)

We use Harmonic to get thousands of data points on companies like these. 

Here’s how you can do the same.

RECS

• The Early: A new place for junior VC resources and content

• Sandhill Report: Get the tech news that matters

• Big Desk Energy: beehiiv’s founders give away tons of alpha every week

Thanks for reading this far and giving us a little bit of your attention this week.

Feel free to unsubscribe whenever this stops becoming valuable to you.

- Clay

RESULTS

Here are the results from our poll question in yesterday’s piece:

What are your expectations for Apple Intelligence?

🟩🟩🟩🟩🟩🟩 Excited - I think customers are going to LOVE it (61)

🟨🟨🟨🟨⬜️⬜️ Meh - I think it will work but nothing special (41)

🟨🟨🟨🟨🟨🟨 Not excited - I think it will flop (60)