Welcome to Startups Weekly, a nuanced tackle this week’s startup information and traits by Senior reporter Natasha Mascarenhas.
Startups Weekly readers know I really like a pivot story, and now I’ve certainly one of my very own: I’m leaving TechCrunch! That is my final Startups Weekly challenge, a e-newsletter that I’ve written each week for over two years. I’ll be shifting on to a brand new publication, persevering with to report on enterprise capital and startups.
It’s a bittersweet transfer. I’ve spent most of my post-graduation profession at TechCrunch. The publication helped me land {many professional} firsts: my first scoop, my first long-form characteristic story, my first valuation-run bull cycle and my first layoffs-ridden bear cycle. I additionally launched a complete new present for Fairness, TC’s flagship podcast, interviewing friends about their hottest takes and profession paths. Plus, I interviewed Kevin Hart on the Disrupt stage. Grateful is an understatement.
Whereas this can be my final Startups Weekly, it’s not the tip of this text. I’m thrilled to share that Haje Jan Kamps, a longtime reporter and the creator of our superb Pitch Deck Teardown collection, can be taking on Startups Weekly. Haje is likely one of the reporters I quote most on this e-newsletter as a result of all of his work matches the “startup should learn” class — and his witty headlines don’t harm, both.
As for who can be overlaying my beat, TC already has an incredible enterprise desk, together with however not restricted to Connie Loizos, Mary Ann Azevedo, Christine Corridor, Dominic-Madori Davis and Rebecca Szkutak. Huge shout out to Kyle Wiggers, as nicely, who’s fearlessly, and thoughtfully, overlaying synthetic intelligence alongside Devin Coldewey.
In my subsequent function, I’ll be overlaying the identical beat and the identical metropolis, specializing in deeply researched characteristic items and scoops. To study extra about the place I’m going subsequent, and to comply with my work, take a look at my (free!!!) Substack and keep in contact on Twitter. I’m excited for the brand new problem. Tech has by no means been extra newsworthy. Sources, I nonetheless would love your suggestions: My Sign: is 1 925 271 0912.
Now let’s get right into a e-newsletter!
The AI debate
On TC+, I wrote a narrative in regards to the debate taking place inside each enterprise agency proper now: What’s one of the simplest ways to seize the factitious intelligence zeitgeist?
Right here’s an excerpt:
Precursor’s Charles Hudson needs to be cautious however not too cautious. The enterprise capitalist was certainly one of many at an AI confab final month, however he — and lots of others — has not but made a brand new AI funding throughout the present hype cycle.
Additionally like many buyers, he’s seen an inflection level take over a sector earlier than, bringing in boatloads of capital, new founders and, at instances, speedy and FOMO-driven offers. Traditionally, Hudson hasn’t minded sitting out. “With crypto, for instance, I used to be OK being at virtually zero,” he mentioned. “I don’t suppose I’m OK with zero as the reply for AI. The query is the place and the way.”
- OpenAI’s new software makes an attempt to clarify language fashions’ behaviors
- Mayfield raised simply shy of $1B to keep away from unicorn hype
- Anthropic thinks ‘constitutional AI’ is one of the simplest ways to coach fashions
Picture Credit: Daniel Grizelj (opens in a brand new window) / Getty Pictures
Minting new accelerators
The workforce behind Higher Tomorrow Ventures noticed a few of its greatest wins earlier than the agency even existed — again when the founding duo was backing pre-seed corporations at 500. Now, founding companions Sheel Mohnot and Jake Gibson are launching an accelerator of their very own.
Right here’s what to know: The Mint can be a three-month accelerator, based mostly out of San Francisco, that cuts $500,000 checks in trade for 10% fairness in between six to 10 startups. The preliminary cohort, which begins this upcoming August, already accepted one firm, and despatched a second acceptance letter out right now.
Higher Tomorrow appears to be stepping in the place it believes Y Combinator is missing. “YC is constructed for scale. The recommendation is quite a bit like one-size-fits-all,” Mohnot mentioned. “We felt like with fintech, there are such a lot of issues which are distinctive about constructing that it is sensible to have one thing distinct.”
- AI2 Incubator’s new $30M fund triples down on early stage AI startups
- Greater rates of interest are fostering a fintech comeback story
- We’re near peak pessimism round fintech
Picture Credit: Syaheir Azizan (opens in a brand new window) / Shutterstock (opens in a brand new window)
Enterprise-backed all the pieces for real-world issues, please
On Fairness this week, the trio chatted by some offers of the week and themes — however the vivid spot of the present was most actually Mary Ann’s protection of Wellthy. The startup not too long ago raised $25 million to assist caregivers really feel much less overwhelmed by a product it describes as “tech-enabled care concierge.”
Right here’s what to know: Whereas the enterprise ecosystem has actually rushed to again digital well being startups, and psychological wellness is rising as a dialog, there’s by no means sufficient on caretaking particularly.
- Contained in the story of 1 founder’s option to shut her startup down, and recommendation for others going ahead
- Yeah, tech progress is slowing down
- Regardless of a rocky begin, local weather tech is in a great place to sort out the remainder of 2023
- And that’s a wrap on my final Fairness episode! To Fairness listeners, thanks for coming alongside my whole journey on the present, from leaping on Fairness Friday’s to internet hosting and main the creation of our Fairness Wednesday episodes. I’m so happy with my previous three years on the present and may’t wait to now be an avid listener from afar. A lot like to all of you, and I hope to win you again at any time when I launch a brand new podcast!
Picture Credit: Getty Pictures
And so on., and many others.
- Programming be aware: For those who’re studying this on a browser, get this in your inbox too! Subscribe right here and share it with your folks.
- After all: It’s already Disrupt season. Reminder that there’s a ticket for each price range and function.
- And eventually, I’ve a shameless plug: Scoops make me! For those who hear a couple of enterprise agency or startup profitable, elevating, flailing, or, oh I don’t know, booting an government due to inner happenings, inform me. I really like seeing early pitch decks and time period sheets too. Glad to discuss anonymity and clarify extra of my course of and what I’m on the lookout for. You’ll be able to inform me stuff on Sign at +1 925 271 0912. No pitches, please.
Seen on TechCrunch
All Elevate’s interim CEO is now full-time
Elon Musk says he has discovered a brand new CEO for Twitter
Boxed wine may be bougie with Allison Luvera and Lauren De Niro Pipher from Juliet
Former FTX CEO Sam Bankman-Fried seeks to dismiss most US prices in opposition to him
Twitter launches encrypted DMs for verified customers with safety drawbacks
Seen on TechCrunch+
Pitch Deck Teardown: Fibery’s $5.2M Sequence A deck
Hidden in plain sight: 5 crimson flags for buyers
Tech staff might take labor classes from Hollywood’s writers
Ask Sophie: Can I apply for an EB-1A with out first getting an O-1A?
It’s been enjoyable. See you on the opposite facet – and hope you keep studying alongside,
A pivot, on this market‽ by Natasha Mascarenhas initially revealed on TechCrunch