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In Today’s Edition

• Imbue secures $200M to build AI models that can reason

• AI reading coach comapny Ello secures $15M to bolster child literacy

• Roku stock jumps after company says it will lay off 10% of workforce

• How much are retailers losing to shrink and theft? In many cases, it’s not the main drag on profits

• Chrome turns 15 and is getting a big redesign

• Cruise ‘just days away’ from approval to mass-produce Origin robotaxis without steering wheels

🚀Startups Nuts

Imbue secures $200M to build AI models that can reason

Imbue, a research lab developing AI systems with reasoning and coding capabilities, raised $200M in Series B funding. Its goal is to create practical AI agents that can safely assist us in achieving real-world goals. Imbue's models reason robustly and tackle uncertainty, making decisions based on facts, generating and discarding hypotheses as needed. The company believes code enhances reasoning abilities, investing in creating its own AI and machine learning tools. Imbue plans to use these tools to lay the foundation for a platform where individuals can construct their customized models.

AI reading coach comapny Ello secures $15M to bolster child literacy

Ello, a startup that tackles childhood illiteracy, raised $15M in Series A. The company offers 1:1 tutoring with AI and child speech recognition tech. Ello's app determines reading level and interests to select books and provides feedback to correct mispronunciations. The app also includes gamification elements, allowing kids to earn points for progress and exchange them for toys. Ello plans to partner with schools and develop a classroom-specific product. Goodwater Capital, Reed Hastings, Common Sense Growth, Homebrew, and Ravensburger participated in the funding round.

🏭Business Nuts

Roku stock jumps after company says it will lay off 10% of workforce

Streaming company Roku announced another round of layoffs will affect 10% of its workforce, or 360 people. In addition to other cost-cutting measures, the company raised its guidance for its third-quarter revenue and EBITDA.The company cut about 200 employees in March and then another 200 employees in November.

How much are retailers losing to shrink and theft? In many cases, it’s not the main drag on profits

CNBC analyzed the balance sheets of seven retailers to determine how much money they’re actually losing from shrink and retail theft. Generally, the inventory losses are only a small fraction of the retailers’ net sales. They also pale in comparison to other factors squeezing margins, such as excessive discounting and promotions. Some retailers are pulling back on their contention that organized retail crime is a primary cause of losses.

📱Tech Nuts

Chrome turns 15 and is getting a big redesign

Chrome is getting a big redesign to celebrate its 15th birthday. The redesign will bring Google's 'Material You' design language to Chrome. Other updates from the latest version of Chrome include a more comprehensive menu, an upgraded Safe Browsing blocklist, and AI in the sidebar. Screenshots of the redesign are available in the article.

Cruise ‘just days away’ from approval to mass-produce Origin robotaxis without steering wheels

Cruise, a company backed by GM, is set to soon begin mass production of its fully autonomous vehicle, pending regulatory approval. The vehicle will not have a steering wheel or pedals. Its lack of traditional human controls means that Cruise requires an exemption from the federal government's motor vehicle safety standards. The government body responsible for processing the exemption is expected to make a decision on the matter soon, maybe even before the end of the month.

🔥Newsletter Spotlight

The best way to keep up with cybersecurity market trends - who are raising money, getting acquired, and the startup economy.

🎁Miscellaneous

Scientists grow whole model of human embryo, without sperm or egg

Scientists from the Weizmann Institute have grown embryo models that resemble real early human embryos without using sperm, eggs, or a womb. The embryo models look like a textbook example of a real 14-day-old embryo. They release hormones that turn pregnancy tests positive in the lab. Realistic embryo models could provide an ethical way for scientists to study the earliest moments of life. The scientists claim that it would be impossible to achieve a real pregnancy using their embryo models.

💡What else are we reading and seeing?

• Clean Up Your YouTube Feed With These Chrome Extensions

• Inside Elon Musk's Struggle for the Future of AI

• Every Software Project is a Startup That Will Probably Fail

• I hope I’m wrong’: the co-founder of DeepMind on how AI threatens to reshape life as we know it

• Private credit’s $10B win is bad for Wall Street

• AI darling’s stock plunge highlights increased Wall Street scrutiny over tech

• Private equity sues to stop new transparency rules

• Why China is turning into a liability for US companies

• The rise of the MBA novelist

• How building a framework can unleash your vision

• 4 productive ways to use a work notebook

😎Fun Fact

Polar bears are nearly undetectable by infrared cameras due to their transparent fur

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