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In Today’s Edition
A Scientific Approach To Your Company and Your Life
Flink, an ultra-fast delivery company, raised $106 million
Netflix added 9.3m new subscribers
Meta's battle with ChatGPT begins now
Chemists Invent Drugs and Drugs Save Lives
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🚀Startups Nuts
Scientific thinking - understanding exponential growth, energy management, and knowing which rules are breakable - can be a cognitive superpower for founders and in various aspects of life. It is important to position oneself in the right place at the right time when new technologies or businesses emerge to maximize success and wealth.
Other News
Stability AI laid off 20 employees, or ~10% of its workforce, after announcing expanded access to its text-to-image generator, Stable Diffusion 3. CEO Emad Mostaque left last month to pursue “decentralized” AI.
Microchip Technology acquired Neuronix AI Labs to improve its AI edge solutions
Ramp, a corporate finance management startup, raised $150 million
Flink, an ultra-fast delivery company, raised $106 million
Cape, a mobile carrier, raised $61 million
Kontakt.io, a hospital indoor tracking startup, raised $47.5 million
Flatpay, an SMB payments startup, raised $47 million
Anvilogic, an enterprise data management startup, raised $45 million
🏭Business Nuts
Big River Services International, an operation that sells around $1 million a year of goods through e-commerce marketplaces, is an arm of Amazon that surreptitiously gathers intelligence on the tech giant's competitors, using its sales across multiple countries to obtain pricing data, logistics information and other details about rival e-commerce marketplaces, logistics operations, and payments services.
Other News
23andMe CEO Anne Wojcicki may take the company private. It went public in 2021 with a valuation of $3.5B, but has languished under $1/share since late 2023, losing 90%+ of its value.
US home sales dropped 4.3% from February, the market’s biggest decline in 16 months. The chief culprit isn’t surprising: mortgage rates once again topped 7% last month. (For context, rates were at 3.22% in January 2022
Netflix added 9.3m new subscribers (up to 270m overall) in Q1 and saw $2.6B in operating income. Its dominion over other streamers will be harder to know in the future, though — the company says it’ll stop reporting subscriber numbers in 2025.
Serve Robots, a sidewalk robot delivery startup backed by Uber and Nvidia, made its NYSE debut yesterday at ~$40m, or $4/share
Pepsi will come in two new flavors — peach and lime — this summer. The soda maker envisions the limited-edition release as a BBQ hit; we foresee two people at a BBQ trying it, saying, “Oh, interesting,” and the rest of the cans sitting at the back of the host’s fridge for months.
Amazon Prime 8% grew in March compared to a year prior, Bloomberg reported, citing data from Consumer Intelligence Research Partners, which says 75% of shoppers in the US have a Prime membership
📱Tech Nuts
Meta's AI assistant is being integrated into search boxes within its apps. It will start appearing directly in the main Facebook feed and users can chat with it using Meta's messaging apps. The assistant is also accessible via a standalone website. It runs on Meta's new Llama 3 model, which outperforms competing models of its class on key benchmarks. The assistant integrates real-time search results from both Bing and Google and can generate images.
Other News
Meta reveals Llama 3, the latest update to its large language model and flagship AI assistant.
Apple's upcoming AI features in iOS 18 are rumored to focus on privacy, with the initial set of enhancements functioning entirely on-device without the need for an internet connection or cloud-based processing, thanks to the company's in-house large language model known internally as "Ajax.
The Stanford Institute for Human-Centered AI has released its seventh annual AI Index report. This year's report covers the rise of multimodal foundation models, major cash investments into generative AI, new performance benchmarks, shifting global opinions, and new major regulations.
The pressure is immense right now to have a plan to factor AI into existing products. This short step-by-step guide will help you take the first step.
AI scams were chosen as the biggest concern about the technology, according to a Microsoft survey of nearly 17,000 online users.
Slack launched its AI tools to all paid users. The tools can summarize threads, recap channel conversations, and answer work-related questions.
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🎁Miscellaneous
Drug development is an integrated team effort with crucial players from both the biology and chemistry disciplines. However, the design, synthesis, purification, and characterization of new drugs lies squarely within the domain of chemistry. Physicians administer drugs, but they don't usually invent them. The public needs to be more aware of chemists' involvement with the drug development process so that they can better help resolve the myriad of problems confronting humankind.
💡What else are we reading and seeing?
How to: maintain focus through intentional curiosity
Generally speaking if you feel stupid that’s because you just got smarter
Palantir is pitching ad agencies on its AI technology
Blackstone earnings rise as value of investments climb
Vista Equity raises more than $20B for a new fund
Why the path to happiness might involve making less money
How to create the most effective to-do list
😎Fun Fact
Estimated Money Rounded Up per Acorns Customer
🐦Joke of the Day
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