📶 OpenAI keeps doubling

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Happy Friday 👋

What a week - feels like Monday was yesterday.

Some headlines from yesterday:

• OpenAI posts numbers (they’re good)

• Elon wins his pay package vote

• Brex shakes up their leadership

• The number of active VCs in Europe drops 50%

Let’s get into the rest.

P.S. In case you missed it …

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TL;DR:

• 📰 News

• 🔗 Links

• 🐥 Tweet

• 💰 Funds

• 📶 Recs

• 🗳 Poll

HEADLINES
OpenAI doubles revenue YoY 📈

• OpenAI’s Annualized Revenue Doubles to $3.4 Billion Since Late 2023 (The Information)

• It’s a Yes, Says Elon Musk. Investors Give Tesla CEO A Big Vote Of Confidence (Barron’s)

• Number of active VCs in Europe falls more than 50% (Pitchbook)

• Eye On AI: Legal Tech Funding Getting AI Upgrade (Crunchbase)

• Microsoft’s Nadella Is Building an AI Empire. OpenAI Was Just the First Step (WSJ)

• Brex abandons co-CEO model, talks IPO, cash burn and plans for a secondary sale (TechCrunch)

• Ex-CEO of Failed Fintech Synapse Nabs $10 Million for New Robotics Startup (The Information)

• Lightspeed Venture Partners leads $4.3M seed in automated financial reporting fintech InScope (TechCrunch)

• YC grad RetailReady raises $3.3M for an AI warehouse app that hopes to save brands billions (TechCrunch)

• Foresite Capital raises $900M sixth fund for investing in life sciences companies (TechCrunch)

• Perplexity was planning revenue-sharing deals with publishers when it came under media fire (Semafor)

• AccountsIQ takes in $65M to boost bookkeeping with AI (TechCrunch)

• Marc Lasry’s sports fund secures nearly half a billion in funding (Pitchbook)

LINKS

🤖 The AI Workforce is Here: How NFX is thinking about the rise of a new labor market

😣 Why Hollywood and Gaming Struggle with AI: Innovator’s dilemma, legal pushback, creatives with pitchforks, and more

👟 GOAT’s Path to Product-Market Fit: How a fake sneaker sparked a $4B idea

🧮 Simple Math to Set Up a Sales Team: A guide to structure quotas, compensation and sales territories for a new sales team

📓 The Marketing Secrets Blackbook: Russell Brunson’s best tips on marketing and business

🦄 Lessons from a two-time unicorn builder, 50-time startup advisor and 20-time company board member: Gold from Uri Levine, co-founder of Waze

♾️ Timeless Lessons From Great Investors: 10 habits from some of VC’s most successful firms

📶 All the Mistakes We’ve Made Running an Internet Business (so far): Things we’ve done wrong so you don’t have to follow in our footsteps

TWEET

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FUNDS

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RECS

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• The VC Insider: Access top-tier startups directly in your inbox

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

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:

With all of the advancements in AI, is blogging still worth it?

🟨🟨🟨⬜️⬜️⬜️ Yes - absolutely ✅ (7)

🟩🟩🟩🟩🟩🟩 No - who reads blogs anymore? ❌ (15)

🟨🟨⬜️⬜️⬜️⬜️ Maybe - but only if you are using it to collect emails 📨 (6)

28 Votes