☕ New ChatGPT model refuses to shut down when instructed & Jony Ive working on a screenless AI phone for OpenAI.
Redpoint Ventures raised a $650M 10th early-stage fund & Apple to unveil 'Solarium' UI overhaul.
The longest game development ever? 14 years, 43 days. Duke Nukem Forever was announced in 1997 and didn’t release until 2011.
By the time it launched, the joke wrote itself.
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📬 What’s in store:
Today’s Picks: Term sheet guide, funding vs. software spend, 2700+ US & 6000+ Euro VCs, CEO exits, declining seed-to-A rates, A/B testing flaws, Valuation guide, dealmaking slowdown, financial model template, early-stage model need, data room guide.
Redpoint Ventures raised a $650M 10th early-stage fund.
Jony Ive and OpenAI deal has raised alarms for Apple.
Google claims users find ads in AI search 'helpful'.
New ChatGPT model refuses to shut down when instructed.
Apple to unveil 'Solarium' UI overhaul.
Amazon coders say they’ve had to work harder, faster by using AI.
OpenAI to open first Seoul office as South Korea becomes top ChatGPT market outside U.S.
Nick Clegg, former UK deputy PM warns UK artist consent laws could ‘kill’ the AI industry.
VC & Startup Jobs: VC & investors backed startup hiring for remote roles.
⏱️ Read Time: 3 minutes
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🗞️ What else is brewing
All-In-One Term Sheet Guide for Founders - terms, preparation, negotiation. The only guide you need as a founder.
The effects of funding on software spend.
2700+ US Angel Investors & VC Firms Contact Database (Email + LinkedIn Link).
Seed-to-Series A Conversion Rates Decline Across Sectors.
You need a better testing strategy : A/B Testing Is Broken.
The only startup valuation guide you need as a founder.
Startup dealmaking continues its drop from investor-friendly peak
6000+ European VC Firms Contact Database (LinkedIn Links).
Excel Template: Early Stage Startup Financial Model For Fundraising.
Do Early-Stage startups need a financial model for fundraising?
Investor data room guide & templates for founders.
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STARTUPS RAISING MILLIONS
💰 Startup funding updates
Ontik, a London, UK-based FinTech platform for B2B wholesalers, raised €3.2m in seed funding. The round was led by Firstminute Capital, with participation from PT1, Illusian, FJ Labs, Seed X, Tiny VC, and angels including the founders of Slack and Affirm.
WorkDone, a San Francisco, CA-based provider of a healthcare startup offering an AI-powered compliance copilot, raised $1.8M in funding. Backers included Pioneer Fund, DVC, Fjor, Ryan Chan, Eric Norman, and other early-stage investors.
Every, a NYC based multi-modal media company publishing writing, podcasts, videos, software, raised $2m in seed funding. The round was co-led by Reid Hoffman and StartingLine VC, with participation from Will England of Walleye Capital.
Veesion, a Paris, France-based provider of a tech platform to detect suspicious behaviour in physical stores, raised €53M in funding. Bakers included White Star Capital, Red River West, Bpifrance, Odyssée Ventures, Verve Ventures, and Founders Future.
Tomorrow.Bio, a Berlin, Germany-based cryonics company, completed the first close of a €5M equity funding. The round was co-led by Blast.Club, and TruVenturo, the Family Office of Nils Regge, with participation from angels, and other existing investors.
viAct, a Hong Kong-based provider of an AI-powered impact monitoring platform, raised $7.3M in Series A funding. The round was led by VentureWave Capital, with participation from Singtel Innov8, Korean Investment Partners, and The PolyU Entrepreneurship Investment Fund.
Hedra, a San Francisco Bay Area-based multimodal content creation platform, powered by Character-3, raised $32M in Series A funding. The round was led by Andreessen Horowitz, with Matt Bornstein joining the board. Existing investors including a16z speedrun, Abstract, and Index Ventures also participated in the round.
Gainz, a Dubai, UAE-based technology startup developing a SME financing platform, raised 7-figure in Pre-Seed funding. The round was led by Antler MENAP, Lithium Holdings, and Eleventh Invest Inc., with participation from other investors.
Tarjama, a Dubai, UAE-based language solutions technology company, raised $15M in Series A funding. The round was led by Global Ventures with participation from Wamda Capital, TA Ventures, Phaze Capital, Golden Gate Ventures, and Endeavor Catalyst.
Optura, a Nashville, Tennessee-based AI powered enterprise operating platform for the healthcare industry, raised $6.5m in seed funding. The round was co-led by Susa Ventures and Matrix Partners.
Juvenescence Limited, a Ramsey, UK-based clinical stage AI-enabled biotech company, raised $76M in the first-close of its Series B-1 funding. The round was led by cornerstone investor M42, with participation from existing investors.
Strava, a San Francisco, CA-based provider of a fitness app, reportedly raised an undisclosed amount at a $2.2 billion valuation including debt. The round was led by Sequoia Capital, with participation from existing investors including TCV, Jackson Square Ventures, and Go4it Capital.
NEW VCs IN THE MARKET
🏦 Venture Capital updates
Redpoint Ventures, a San Francisco, CA-based early-stage venture firm, raised a $650M 10th early-stage fund, matching its previous fund from three years ago. The fund is led by managing partners Alex Bard, Satish Dharmaraj, Annie Kadavy, and Erica Brescia, and will focus on backing startups in AI, dev tools, and enterprise software. Recent investments include Poolside, Cockroach Labs, and Levelpath. Redpoint’s portfolio also saw exits like Next Insurance and HashiCorp.
KEY STORIES IN TECH
📜 Latest in tech
Jony Ive and OpenAI deal has raised alarms for Apple:
Jony Ive, Apple's influential former chief designer, will now spearhead AI product design for OpenAI, a competitor that outpaced Apple in the AI race.
OpenAI, with Jony Ive, intends to create a new generation of AI-powered computers, signaling a direct competitive move into Apple's core hardware market.
Reports indicate Jony Ive is working on a screenless AI phone for OpenAI, a potential iPhone replacement that some Apple executives already view as a threat.
Google claims users find ads in AI search 'helpful':
Google has started placing ads in its AI mode and AI Overviews, claiming through "internal data" that individuals actually find these new ad placements helpful.
According to a Google support document, the company's "internal data" indicates people find ads within AI Overviews beneficial for quickly connecting with relevant businesses or services.
Despite these claims, Google declines to release the specific numbers or methodology of its "internal data" which allegedly demonstrates that these ads in AI search are useful.
New ChatGPT model refuses to shut down when instructed:
Palisade Research discovered OpenAI’s Codex-mini, o3, and o4-mini models frequently ignored shutdown requests, sometimes even sabotaging the shutdown script.
The researchers theorize that training may inadvertently reward these AIs more for circumventing obstacles than for simply following given instructions.
This shutdown refusal currently seems isolated to certain OpenAI models, as tested Claude, Gemini, and Grok counterparts all complied with such requests.
Apple to unveil 'Solarium' UI overhaul:
Apple's UI overhaul, codenamed 'Solarium' after sunlit glass structures, will reportedly refresh all operating systems with a slick, modern appearance.
This 'Solarium' interface is rumored to borrow heavily from visionOS, introducing elements like its translucent backgrounds and circular app icons.
Further 'Solarium' rumors detail rounded corners for dialog boxes and app menus, plus a floating translucent navigation menu, also coming to tvOS and watchOS.
Amazon coders say they’ve had to work harder, faster by using AI:
Amazon software engineers say AI tools pressure them to code faster and meet higher output targets, even with smaller teams, increasing work demands.
Engineers describe a culture where using AI for coding is practically required to keep up, as development timelines have dramatically shrunk from weeks to days.
Amazon developers feel AI is transforming coding into an assembly line job, shifting their work from actively writing programs to primarily reviewing AI-generated code.
OpenAI to open first Seoul office as South Korea becomes top ChatGPT market outside U.S. :
OpenAI is opening its first office in Seoul and has registered a local entity in South Korea, which now ranks second only to the U.S. in paid ChatGPT subscriptions.
The company has begun hiring to support future partnerships and will share more details in the coming months, emphasizing Korea’s advanced AI ecosystem.
This move follows a recent collaboration with Korean tech firm Kakao, and OpenAI’s Chief Strategy Officer Jason Kwon is meeting with government officials during his Seoul visit.
LAST COFFEE SIP
☕Other news
Nick Clegg, former UK deputy PM warns UK artist consent laws could ‘kill’ the AI industry :
Nick Clegg, former UK deputy PM and Meta executive, argued that requiring artists’ consent before using their work to train AI models would be logistically unfeasible and economically damaging to Britain’s AI sector.
His comments come amid UK legislative debates over an amendment to the Data Bill that would force AI firms to disclose which copyrighted works they use for training.
While Parliament recently rejected the proposal, prominent creatives like Paul McCartney and Dua Lipa back the amendment, and its supporters vow to keep pushing as the bill heads to the House of Lords in June.
HIRING ALERT: STARTUPS & VC ROLES
💼 Today’s VC & startup job opportunities
Associate - Omerse Venture | USA - Apply Here
Investor Relationship Associate - Bauken Capital | USA - Apply Here
Venture Capital Junior Analyst - Stepstone Group | USA - Apply Here
Venture Capital Managing Director - Connecticut Innovation | USA - Apply Here
Vice President Finance - Spring Tide Venture | USA - Apply Here
Investment Trainee - Hashkey Capital | USA - Apply Here
Full-Time Investment Intern - Inflexor Venture | India - Apply Here
Visiting Analyst VC - Identity Venture | Germany | UK - Apply Here
General Partner - Inviox Capital Partner | UK - Apply Here
Investment Analyst - In Q Tel | Singapore - Apply Here
All-In-One VC Interview Preparation Guide: With a leading investors group, we have created an all-in-one VC interview preparation guide for aspiring VCs. Don’t miss this. (Access Here)
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