- Cash Nut
- Posts
- OpenAI co-founder's new co 🤖
In partnership with
In Today’s Edition
Is a Chilly Market for IPOs on the Brink of Heating Back Up?
Netflix to Open Massive Entertainment, Dining, and Shopping Complexes in Two Cities in 2025
TikTok and the US government are at odds again
Ilya Sutskever, OpenAI's former chief scientist, launches new AI company
ElevenLabs Video to Sound Effects creates sound effects for videos
For EVs, Semi-Solid-State Batteries Offer a Step Forward
This cannabis startup pioneered “rapid onset” gummies
Most people prefer to smoke cannabis but that isn’t an option if you’re at work or in public.
That’s why we were so excited when we found out about Mood’s new Rapid Onset THC Gummies. They can take effect in as little as 5 minutes without the need for a lighter, lingering smells or any coughing.
Nobody will ever know you’re enjoying some THC.
We recommend you try them out because they offer a 100% money-back guarantee. And for a limited time, you can receive 20% off with code FIRST20.
🚀Startups Nuts
Listings dropped sharply in 2022 and 2023 after a pandemic-fueled IPO boom in 2021. However, recent successful debuts from larger, profitable companies like Reddit and Astera Labs suggest investor appetite is returning, at least for higher-quality firms. IPOs are crucial for VC returns and the startup lifecycle, so a rebound would be welcome. M&A activity has been mixed, with deal values up but volumes down, favoring established startups over smaller ones. Continued stock market strength and more flexible investors could further boost exit prospects.
Other News
CesiumAstro, an Austin, Texas developer of space communications tech, raised $65m in Series B+ funding
Genspark, a Palo Alto, Calif.-based AI search engine startup, raised $60m in seed funding
Daydream, an e-commerce platform led by Julie Bornstein (The Yes, Stich Fix), raised $50m in seed funding
Pomelo Care, a virtual maternal care provider, raised $46m in Series B funding
GrayMatter, a Gardena, Calif., industrial robotics company, raised $45m in Series B funding
Vecna Robotics, a Waltham, Mass.-based maker of autonomous warehouse forklifts, raised $40m in new Series C equity and debt funding
🏭Business Nuts
Netflix plans to open two new in-person experience venues in 2025. The locations, which will be in King of Prussia, Pa., and Dallas, will feature a wide array of shopping outlets, eateries, and activities tied to major franchises. The two new Netflix Houses will have footprints spanning more than 100,000 square feet. Netflix doesn't see these permanent retail destinations as becoming a sizable new business segment - it is aiming for them to serve as marketing vehicles that invite fan engagement to support the core subscription-streaming business.
Other News
Fisker, the California-based EV company once valued at $2.9B, filed for Chapter 11 bankruptcy protection on Monday. The company said it owes $100m-$500m to 200-999 companies.
TikTok and the US government are at odds again: The FTC threatened the app’s parent company, ByteDance, with a lawsuit after the agency found TikTok to be “violating or… about to violate” the Children’s Online Privacy Protection Act.
Tupperware is closing its last US factory in South Carolina, laying off 148 employees and moving all manufacturing to its Lerma, Mexico, plant — but it plans to build a logistics facility in the Midwest.
UK regulator initiates investigation into whether Hewlett Packard Enterprise's planned $14B acquisition of Juniper Networks would result in competition concerns in the country.
Sainsbury's, the British grocery giant, agreed to sell its banking business to NatWest (LSE: NWG), which will receive both the customer assets and £125 million in cash.
📱Tech Nuts
Ilya Sutskever, one of OpenAI's co-founders and former chief scientist, has launched a new company just a month after formally leaving OpenAI. Safe Superintelligence Inc. (SSI) has only one goal and one product: a safe superintelligence. Sutskever has previously predicted that AI with intelligence superior to humans could arrive within the decade, and that when it does, it won't necessarily be benevolent. This necessitates research into ways to control and restrict it. SSI has been designed from the ground up as a for-profit entity. It is currently recruiting technical talent in Palo Alto and Tel Aviv.
Other News
Framework has partnered with DeepComputing, the company behind the very first RISC-V laptops, to build a RISC-V mainboard for the Framework Laptop 13.
Chinese AI startup DeepSeek has released DeepSeek Coder V2, an open source mixture of experts code language model that supports more than 300 programming languages.
Nemotron-4-340B is an open-source model from Nvidia that just passed Llama-3-70B on the LMSYS leaderboard.
ElevenLabs Video to Sound Effects creates sound effects for videos that you upload, similar to Google DeepMind’s V2A.
TikTok recently launched a new Instagram-like photo-sharing app called Whee, as spotted by Android Police and APKMirror founder Artem Russakovskii.
Target is banking on a new generative artificial intelligence tool to help employees do their jobs and improve the shopping experience.
Adobe updated its terms of service to explicitly pledge it won't use customer data to train its AI models.
Forbes threatened legal action against startup Perplexity, accusing it of stealing text and images in a "willful infringement" of Forbes' copyright rights.
🎁Miscellaneous
It's not yet realistic to look for solid-state batteries in production vehicles anytime soon. Semi-solid-state batteries with gel electrolytes still offer significant improvement over lithium iron phosphate batteries. They can be made on conventional lithium-ion battery production lines. Several companies are actively developing semi-solid-state batteries - WeLion, a Chinese company, has created a battery pack that delivers more than 1,000 kilometers of driving range on a single charge.
💡What else are we reading and seeing?
Investors can't afford to miss the AI rally
3 ways successful people work with frustrating colleagues
Reflections on the State of Crypto: Q2 2024
A 10-item test to assess your emotional quotient
How to break free from the cycle of overthinking
How AI can help you turn an idea into the next great app
😎Fun Fact
On this day: In 2003, the Wikimedia Foundation was founded in Florida
🔥 Few tools many people are finding useful
Interactive Charts in Julius AI - Generate dynamic, presentation-worthy charts with a single prompt
Bytebot - Leverage the power of AI in your web scrapers and automations
Mojo-app - Create amazing logo animations with AI reveals
AI Content Mate - Quickly generate content directly inside Figma
Flowery - Vocabulary builder powered by LLM and spaced repetition
Moonbeam - An AI writing assistant specifically trained to help you write essays, stories, articles, blogs, and other long-form content
🐦Joke of the Day
Enjoy The Cash Nut? Consider forwarding it to a co-worker, colleague, classmate, or whoever you think might be interested.
Advertise With us - Link
Keep an Eye on our Weekly newsletter, where we gonna share resources like Financial Models, AI tools, and much more.
That’s it from our side for today.