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- 📶 Europe becomes unlikely Gen AI hot spot
📶 Europe becomes unlikely Gen AI hot spot
Europe breaks record for Gen AI investments, why a16z isn't actually expanding into PE, SpaceX is valued over $200b, and Point72 lays off its fintech team
Good morning 👋
And Happy Friday.
It’s officially summer, and it seems like everybody is dealing with ~100 degree weather (Miami included). Not complaining … we’ll take the heat over the cold any day of the week.
Switching gears, here are some of the top headlines from yesterday:
Europe breaks record for Gen AI investments
Why a16z isn't actually expanding into PE
SpaceX is valued over $200b
Point72 lays off its fintech team
Let’s get into the rest.
TL;DR:
HEADLINES
Europe is becoming a Gen AI hot spot 🇪🇺
Europe breaks another record for VC investment in Gen AI (Pitchbook)
Andreessen Horowitz isn't really expanding into private equity (Axios)
VC firm focused on "sweat equity" raises $300 million for second fund (Axios)
Billionaire Steve Cohen's Point72 Ventures Lays Off Fintech Team In Pivot Towards AI (Forbes)
Elsewhere Partners Banks $285 Million for Small Software Deals (WSJ)
Obesity Telehealth Startup Form Health Raises $38 Million (WSJ)
SpaceX Tender Values Company Near $210 Billion (The Information)
SoftBank to invest up to $30 million in search engine startup Perplexity AI at a $3 billion valuation (Techstartups)
Robotics Startups On The Rise In 2024 (Crunchbase)
LINKS
🔧 Services-Powered Software: Why Forerunner thinks the money is not is traditional SaaS anymore
👁🗨 Opportunity Knocks: The mid-year outlook from the KKR team
🎾 Money in Tennis: Andy Roddick shares the numbers that drive the sport on his podcast
🔕 Quiet Compounding: Manageable damage > optimizing for upside
⎯ The Thin Line Between Bold and Reckless: There’s more to learn from those who endured risk than from those who seemingly conquered it
☑️ What We Look For in Founders: Paul Graham has 5 traits he looks for.
👀 Peeking Behind the Curtain of 10,000 Businesses: Brent Beshore’s observations
🔮 10 Predictions About the Future of VC: Data-driven VC connects the dots between the latest research
🤝 Become a Superconnector: There are a good number of bad actors in the world today, and if you can be someone who is happy to share ideas and contacts with people, you’re going to stand out.
❓ Questions VCs Ask Founders: Use this as a guide to quality questions when evaluating a startup
🧭 Confluence.VC Navigator: Our internal navigator tool to help readers find what they’re looking for (if you’re looking for more from us)
TWEET
How to Keep a Founder Poor (as a VC)
I wrote about selling secondaries in today's Tech Breakfast Club Newsletter -
Two of the founders I respect the most, @ADoricko (Rainmaker) and @denk_tweets (Beehiiv) have wildly different opinions on secondaries
Tyler, who sold some… x.com/i/web/status/1…
— Morgan Barrett (@MorganBarrettX)
6:55 PM • Jun 26, 2024
REFER
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FUNDS
Name | Fund Size | Fund Number |
---|---|---|
$315m | II | |
$310m | III | |
$10.2b | I | |
$1.3b | II | |
$398m | III | |
$5.6b | VI |
RECS
The Early: A new place for junior VC resources and content
Creator Spotlight: How the best online creators make it all happen.
Newsletter Operator: The best newsletter we read about building a newsletter business.
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- Clay
RESULTS
Here are the results from our poll question in yesterday’s piece:
What are your thoughts on electric vehicles (EVs)?
🟨🟨🟨🟨⬜️⬜️ Not for me ❌ (6)
🟩🟩🟩🟩🟩🟩 I'd buy one in the future but not right now 🤷♂️ (8)
🟨🟨🟨⬜️⬜️⬜️ I'd buy one (but only a Tesla) ✅ (5)
🟨🟨🟨⬜️⬜️⬜️ I'd buy one (but not a Tesla) 🔌 (5)
24 Votes
Reply