Initialized Capital restructures, and lets multiple partners go

Initialized Capital is restructuring its team to “meet the moment” in the venture market, according to a blog post from the firm’s managing partner Brett Gibson. The San Francisco-based venture capital firm, originally founded by Alexis Ohanian, Garry Tan, and Harjeet Taggar,…Read More

OpenAI also secured a massive credit line

In addition to OpenAI’s new $6.6 billion megaround of funding at a post-money valuation of $157 billion, the outfit has secured a $4 billion revolving line of credit, it disclosed in a post Thursday night. The arrangement gives it “access to over $10 billion in liquidity, which gives us the fle…Read More

Tesla’s Cybertruck racks up fifth recall in under a year

Tesla’s 2024 Cybertrucks have been on the road for less than a year and they’ve already been recalled five times, as of Thursday.  This time, it’s because the rearview camera image may be delayed by two seconds after shifting into reverse, and the display may appear blank for up to eight se…Read More

Google pilots blocking some sideloaded apps in India

Google has announced that it is blocking the installation of certain apps automatically from getting sideloaded on Android devices in India.
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Google Maps will show AI-powered review summaries in India

Google is adding new AI-powered features on Maps in India including AI-powered summaries, the ability to search for experiences, and weather alerts. The Maps app will analyze reviews and show summaries of places, it said. The company made the announcement at its annual Google for India…Read More

WP Engine sues Automattic and WordPress co-founder Matt Mullenweg

Hosting provider WP Engine has filed a lawsuit against Automattic and WordPress co-founder Matt Mullenweg, accusing them of extortion and abuse of power. The lawsuit comes after nearly two weeks of tussling between Mullenweg, who is also CEO of Automattic, and WP Engine over t…Read More

Judge blocks California’s new AI law in case over Kamala Harris deepfake

A federal judge blocked one of California’s new AI laws on Wednesday, less than two weeks after it was signed by Governor Gavin Newsom. Shortly after signing AB 2839, Newsom suggested it could be used to force Elon Musk to take down an AI deepfake of Vice President Kam…Read More

Venture firm CRV returns $275 million citing overvaluation of mature startups

CRV, a more than 50-year-old venture firm, is returning to investors $275 million from its $500 million Select fund, which backs later-stage rounds of existing portfolio companies, the New York Times reported. The firm is one of the first Silicon Valley outfits to…Read More

Cancer AI Alliance joins medical and tech expertise together with $40M to collaborate on next-gen care

A group of major medical institutions specializing in cancer care have formed a partnership to better take advantage of AI’s potential to advance the space. With $40 million of cash and resources from big tech backers, the Cancer AI Alliance…Read More

Facebook says it paid content creators $2B this year

Are creators sleeping on Facebook? Though the social network has been more enticing for AI Shrimp Jesus than young people, Facebook is consolidating its monetization programs into a more streamlined Facebook Content Monetization hub, which will reward creators for their Reels, longer videos,…Read More

Spill, the Black-owned Twitter alternative, scores investment from Kerry Washington

as the second anniversary of Spill rolls around, Spill has something else to celebrate: Emmy-winning actress Kerry Washington has made an investment in his app.
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Hedosophia leads $7M seed round into retail supply chain AI startup Ameba

Ameba takes the unstructured data in a retailer’s supply chain systems, sprinkles in some generative AI, and makes the whole thing more efficient. 
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Peak XV trims fund size and fees as Indian market overheats

Peak XV, the largest India and Southeast Asia-focused venture firm, is reducing the size of a handful of its funds and lowering fees as it seeks to become “deeply aligned” with its limited partners. The firm, which secured capital commitments totaling $2.85 billion in mid 2022, informed…Read More

Peak XV trims fund size and fees as Indian market overheats

Peak XV, the largest India and Southeast Asia-focused venture firm, is reducing the size of some of its funds and lowering fees as it seeks to become “deeply aligned” with its limited partners. The firm, which secured capital commitments totaling $2.85 billion in mid 2022, informed its…Read More