In Today’s Edition

• Top metrics for vertical SaaS companies

• Winning the embedded fintech race is all about distribution

• Musk’s Boring Company gets OK to dig 68 miles of tunnels under Las Vegas

• JPMorgan CEO Jamie Dimon calls Fitch Ratings U.S. downgrade 'ridiculous' but says it 'doesn't really matter'

• Meta releases open source AI audio tools, AudioCraft

• Cultivating a state of mind where new ideas are born

🚀Startups Nuts

Top metrics for vertical SaaS companies

Horizontal SaaS has dominated headlines for the past several years. You build a product that’s industry agnostic but problem focused. Vertical SaaS is all about creating software for a very specific industry. This long read unpacks the key metrics and benchmarks you should be paying attention to if you’re building a vertical SaaS company.

Winning the embedded fintech race is all about distribution

In this article, Matt Brown unpacks how embedded fintech is a positive sum game for those involved in the value chain. However, there are three constraining factors and tradeoffs you need to consider when it comes to distribution: optimizing for unit economics, ease of ownership, and acceptance rate.

🏭Business Nuts

Musk’s Boring Company gets OK to dig 68 miles of tunnels under Las Vegas

The Las Vegas City Council voted last month to approve the Boring Company's plans to dig more tunnels under the city. The project will create 68 miles of tunnels and 81 stations served by Tesla vehicles able to carry three passengers at a time. Mayor Carolyn Goldman says that while there are concerns about the plan, hotels are begging for transportation options. The Boring Company claims it has transported 1.15 million passengers since its Las Vegas Convention Center Loop opened in 2021, with a peak capacity of 4,500 people per hour.

Read here - Link

JPMorgan CEO Jamie Dimon calls Fitch Ratings U.S. downgrade 'ridiculous' but says it 'doesn't really matter'

The Fitch Ratings downgrade of the United States’ long-term credit rating ultimately doesn’t matter, JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday. “It doesn’t really matter that much,” because it’s the market, not rating agencies, that determines borrowing costs, Dimon told CNBC’s Leslie Picker. Still, it is “ridiculous” that other countries are rated higher than the U.S. when they depend on the stability created by the U.S. and its military, Dimon added.

Read Here - Link

📱Tech Nuts

Google’s AI search is getting more video and better links

Users will start seeing more multimedia in the summary box on top of their search results when using Google's AI-powered Search Generative Experience (SGE). While SGE is still an experimental product, it's likely the future of Google Search. With SGE, Google is no longer just trying to find relevant links - it's trying to generate true, relevant, and helpful information. Users have reported being impressed with how useful SGE is, but complain that the service is still too slow.

Meta releases open source AI audio tools, AudioCraft

AudioCraft is a suite of generative AI tools from Meta for creating music and audio from text prompts. It allows content creators to generate complex audio landscapes, compose melodies, and simulate entire virtual orchestras by inputting simple text descriptions. AudioCraft uses AudioGen for audio effects and soundscapes, MusicGen for musical compositions, and a neural network-based audio compression codec. A link to Meta's blog post about AudioCraft, which contains several samples generated with the tools, is available in the article.

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🎁Miscellaneous

Cultivating a state of mind where new ideas are born

Many founders in the early 2010s thought that working within a thriving social scene of peers would help them percolate ideas as they built their startup, but there are no famous success stories from people who tried. Working in solitude allows for serious work to be done. Being in an environment where the opinions of others matter can kill ideas quickly. This essay analyzes the working notes of several highly creative individuals to distill different approaches to developing a creative state.

💡What else are we reading and seeing?

• Worldcoin says will allow companies, governments to use its ID system

• Inside the $6.5 billion buyout of New Relic

• Vista puts up $1B in equity in struggling Finastra deal

• How ESPN went from Disney’s financial engine to its problem

• The new platform giving big hedge funds a run for their money

• U.S. employers are stuck in hiring Catch-22

• How embracing a growth mindset changes how your brain functions

😎Fun Fact

Giraffes have the same number of neck vertebrae as humans, which is seven

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