In Today’s Edition

• Fifty Years to help climate scientists turn research into solutions with new grants program

• Vanguard Strikes Again, Axes Valuation Of Ola By Another 27%

• Video of Tesla Cybertruck production has leaked

• Amazon rolls out its virtual health clinic nationwide

• Meta readies AI chatbots for artificial companionship and user retention

🚀Startups Nuts

Fifty Years to help climate scientists turn research into solutions with new grants program

San Francisco venture firm Fifty Years has a new grant program to help climate scientists turn research into prototypes. The grants will range from $25,000 to $100,000, and it shouldn’t take scientists more than an hour to apply for them. The program was inspired by the funding struggles of Fifty Years portfolio company Solugen, now valued at $2 billion, when it was first getting started.

Vanguard Strikes Again, Axes Valuation Of Ola By Another 27%

The investment firm marked down the valuation of its stake in the startup by 51.6% to $25 Mn at the end of May 2023 from $51.7 Mn it invested initially. This translates to a valuation of $3.5 Bn for Ola, a far cry from the peak $7.3 Bn at the end of 2021. Vanguard holds 1,66,185 shares, or nearly 0.7% stake, in ANI Technologies, the parent company of the ride-hailing startup.

🏭Business Nuts

Video of Tesla Cybertruck production has leaked

The video shows a more bare production line compared to pictures that Tesla released recently and a few workstations that look like they still haven't been set up yet, but Tesla still has about two months to stick to its latest timeline.

Amazon rolls out its virtual health clinic nationwide

Amazon Clinic is a virtual platform for patients to connect with health-care providers for treatment of common conditions over video or text message, depending on location.The company launched Amazon Clinic last November as a way for patients to connect with telemedicine providers to help receive treatment for common conditions such as acne and hair loss. Amazon has been trying to break into the health-care industry for years with mixed success.

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📱Tech Nuts

Meta readies AI chatbots for artificial companionship and user retention

Meta is developing a range of AI personas that mimic human-like conversations to increase user engagement. The company envisions AI agents acting as assistants and coaches, helping users interact with businesses and creators. AI personas could provide search, recommendations, and a fun and interactive element for Meta's platforms. Meta plans to roll out the personas as early as September.

Superconductor Breakthrough Replicated, Twice

Two separate sources have confirmed that a compound called LK-99 can enable the fabrication of room-temperature, ambient-pressure superconductors. A superconductor that could work in everyday devices would improve most aspects of those devices without any electricity waste in the form of heat. While the material is now confirmed to be real, the manufacturing process still needs further refinements to produce more consistent and higher quality results. A link to a video from Chinese researchers showing proof of LK-99's superconducting capabilities is available in the article.

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🎁Miscellaneous

We can save what matters about writing - at a price

Generative AI is going to change the way educators assess students. It will still be possible to assess students through essays and assignments, but teachers will have to focus on the process rather than the finished result. Assessing how students arrive at an answer makes it harder for students to cheat and it also helps with learning. Teachers may need to devise questions where the answering process can't be simulated.

💡What else are we reading and seeing?

• Investors dumping China load up on other emerging markets

• Platinum is the new gold

• NATO launches a €1 billion venture capital fund

• AI could affect many high-paying white-collar jobs

• Young rich Americans don’t trust the stock market

• Bitcoin is not crypto, the SEC confirms

• Why boredom is key for improving your productivity

😎Fun Fact

Wombat feces are cube-shaped, which helps prevent them from rolling away on uneven terrain

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