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Pioneer Square Labs' Greg Gottesman Forecasts Generative AI Will Transform Venture Capital Operations by 2033
Greg Gottesman of Pioneer Square Labs predicts venture capital will fundamentally change in the next 5-10 years, increasingly leveraging generative AI to provide startups with more than just funding, including operational and coding support. Sheila Gulati of Tola Capital adds that early-stage investing is becoming more democratized, with a broader investor pool amid the recent AI-driven revival in venture capital.
Fed’s 2022 Tightening Ends Venture Excess, Clearing Path for Real Innovation After Years of Easy Money
After years of easy money and inflated venture activity that rewarded hype over substance, the Fed’s tightening since early 2022 ended the era of abundant capital and speculative startup excess, paving the way for more disciplined, real innovation. The author argues the prior cycle largely wasted opportunity on trivial fads and poor capital allocation, and that stricter conditions will restore healthier risk awareness for founders and investors.
Maveron Identifies Key Consumer Investing Opportunities in the Age of Personalization, Highlighting Health Innovations Like GLP-1s
Maveron highlights major societal shifts defining the 'Age of Personalization,' focusing on health, knowledge, productivity, and power redistribution as key consumer investment opportunities. They emphasize addressing issues like obesity through innovations such as GLP-1 treatments, which are changing perceptions around body image and health.
Otto Startup, Led by Expedia Veteran and Madrona Chairman, Raises $6M to Develop AI Assistant for Business Travel Booking
Seattle-based startup Otto, led by Expedia veteran Michael Gulmann and chaired by Steve Singh of Madrona Ventures, is developing an AI virtual assistant using GPT-4 to simplify business travel booking. The company raised $6 million in a seed round led by Madrona and aims to offer its product for free while earning revenue through booking facilitation.
Zap Energy Raises Nearly $130 Million to Develop Commercial Fusion Power, Total Funding Reaches $330 Million
Zap Energy, a fusion energy startup based in Everett, Washington, is raising nearly $130 million to advance its goal of developing commercially viable fusion power, bringing its total venture funding to approximately $330 million. The company is part of a growing fusion sector attracting billions in investment aiming to create clean, carbon-free energy.
Seattle Startup Forum3 Launches Spok, an AI Marketing Assistant Powered by GPT-4 for SMBs
Seattle startup Forum3, founded by former Starbucks exec Adam Brotman and investor Andy Sack, launched Spok, an AI marketing assistant designed to streamline competitive analysis and content creation for small and medium-sized businesses using GPT-4 and custom marketing data.
OpenAI wants NYT's notes; AI meets email; Startup vets eye EV charging marketplace
This week on the GeekWire Podcast, we catch up on the latest twist in the New York Times' lawsuit against OpenAI and Microsoft over the alleged use of its reporting to train GPT-4 and other large language models. The NYT is fighting OpenAI’s request to turn over reporters’ notes, interview memos, and other materials used to produce stories, to prove they were worthy of copyright. On a related topic, we take a closer listen to Microsoft AI CEO Mustafa Suleyman's comments about AI and fair use at the Aspen Ideas Festival, which were more nuanced than some of the coverage…
AI, VC, and the next big opportunity in tech, with 'Startup Project' host Nataraj Sindam
As the creator and host of the "Startup Project" podcast, Seattle-area tech senior product manager Nataraj Sindam talks with a wide range of investors and entrepreneurs, contributing to his broad perspective on the future of artificial intelligence, investing, startups, and business technology. He's also author of the Above Average email newsletter, and venture partner with Incisive Ventures. Our topics this week include: The opportunity to apply the power of large language models and generative AI to the larger world of business-to-business applications, including services tailored to workflows in specific industry verticals. How AI will drive a massive increase in data…
Seattle Startup DeltaGen Develops Prompt-Free AI Platform for Enterprise Workflows, Backed by CEO Rene Bystron
DeltaGen, a Seattle startup led by CEO Rene Bystron, is developing AI software that enables enterprises to use generative AI without needing to write prompts, starting with financial workflows. The platform integrates multiple AI APIs to select the best model for specific tasks and is currently in beta, planning to adopt a SaaS revenue model.
AI Company Xembly to End Services and Wind Down by June 1, 2024 Amid AI Platform Challenges
Enterprise AI company Xembly announced it will cease its customer-facing services and wind down operations due to challenges with underlying AI platforms, effective June 1, 2024. The Seattle-based firm, founded in 2020 and backed by $20 million in funding, plans to pursue a new direction in AI development.
week of may 27: Coral Garnick Ducken - Madrona
Top Stories: 1. Expedia leaders are out Geekwire article/Seattle Times article 2. Synapse bankruptcy affects Seattle startup Geekwire article 3. Amazon AWS CEO change PSBJ article (CEO leaving) PSBJ article (new CEO) 4. OpenAI's new voice product Geekwire article 5. Local VC to launch startup community hub Geekwire article About guest co-host Coral Garnick Ducken - Digital Editor, Madrona: Prior to her current role as Digital Editor for Seattle VC firm Madrona, she was a content writer for Blueprint Technologies. Before that she was the Associate Editor at Puget Sound Business Journal after leaving Seattle Times as a business reporter…
GeekWire Highlights: Amazon Protests, Tesla Cybertruck Test Drive, Veeam's $1.5B Revenue, OpenPipe's $6.7M Funding, and Washington's Fusion Power Support
GeekWire's most popular technology stories for the week of March 24, 2024, covered topics including Amazon protesters opposing fossil fuel use, Tesla Cybertruck test drives in Seattle, Veeam's headquarters move and revenue milestone, OpenPipe's $6.7M funding round, and Washington state's support for fusion power development.
Brinc Unveils LiveOps Software to Manage Public Safety Drones, Communications, and Evidence Storage
Brinc launched LiveOps, a browser-based software platform that integrates drone fleet management, live streaming, real-time maps, communications, and evidence storage for public safety agencies. The Seattle-based company aims to expand its reach beyond drone pilots to emergency response teams, offering LiveOps alongside its hardware and service packages.
Mission Zero Technologies unveils modular DAC unit claiming 3–5× lower energy use and lower-cost plants
UK startup Mission Zero Technologies has developed a modular direct air capture device that uses a water-based solvent and electrodialysis to extract CO2, claiming 3–5× lower energy use and lower costs by using off‑the‑shelf components and compatibility with intermittent renewables.
OpenAI's Sora, a new Amazon book, and 5 days a week in the office
This week on the GeekWire Podcast, stick around to the end for a late-breaking addition to the show — a bonus segment about OpenAI's new AI video generation technology Sora. Joining the show is Rahul Sood, CEO and co-founder of Irreverent Labs, a Seattle-area startup that is working on AI to turn images and text into video. We also discuss the Seattle-area startups that are bringing employees into the office five days a week; look ahead to the upcoming release of what appears to be a juicy Amazon book, due out in April; and preview the GeekWire Awards in advance…
Sports Loft gathers 2024 predictions from top sports investors—including Techstars, Ryan Sports Ventures, Edge VC and Sapphire Sport—on industry shifts and investment focus
Sports Loft surveyed leading sports and media investors and VCs for their 2024 expectations, collecting lessons from 2023 and predictions about where the industry will focus. Contributors emphasized disciplined investing, sustainable fundamentals, and shifting revenue strategies as key themes for the year ahead.
Fixie Launches HiSanta.ai for Real-Time AI Voice Calls with Santa and Holiday Characters
Seattle startup Fixie launched HiSanta.ai, a web platform enabling real-time AI voice calls with Santa and holiday characters using integrated large language models and speech technology. The service is designed as a fun technology demo featuring fast and interactive conversations while deliberately avoiding questions about Santa's reality.
Blake Resnick, 23, Leads Seattle Drone Startup Brinc to Enhance Public Safety with Advanced UAVs
Blake Resnick, founder and CEO of Seattle-based drone company Brinc, uses technology to improve public safety with drones designed for first responders. At 23, he secured significant early investment and aims to expand drone use for police and medical emergencies.
Navigating the Dynamics of Startup Boards: Managing Disagreements & Effective Governance
In this episode, Madrona Managing Director S. Somasegar and General Counsel Joanna Black discuss the fundamental role of a board in a startup's growth and development. They touch upon the importance of aligning strategic views with board members, managing disagreements, and effective governance to ensure that the organization is run efficiently. The duo offers numerous insights into the intricacies of board structure at different stages of a startup lifecycle, drawing parallels from recent events at OpenAI. The conversation covers the need for transparency, both in sharing good and bad news, and the necessity for a functional board reflecting a functional…
What's next for Microsoft and OpenAI; Amazon car sales; disappearing unicorns
This week on the GeekWire Podcast, we assess the outcome of the drama at OpenAI, considering what the removal and ultimate return of its CEO Sam Altman, and everything that happened in between, means for Microsoft. While Microsoft CEO Satya Nadella earned kudos for masterfully navigating the mess, the situation also showed how the company was vulnerable to being blindsided due to OpenAI's convoluted structure. And while for-profit interests are likely to get more influence on OpenAI's reformulated board, it's not yet clear if Microsoft will end up with a seat on that board, leaving the ultimate outcome for Microsoft…
Seattle Startup Wokelo Raises $1.5M Pre-Seed to Use AI for Rapid M&A Due Diligence Reports
Wokelo, a Seattle-based startup founded by two former management consultants, uses AI to generate detailed due-diligence reports in minutes, streamlining the M&A research process. Founded in 2022, it has raised $1.5 million in pre-seed funding to further develop its product.
John Stanton of Trilogy Equity Partners Discusses Steady Venture Investments and AI Acquisition Challenges Amid Regulation
John Stanton of Trilogy Equity Partners highlights steady investment activity despite venture capital downturn, emphasizing AI-driven opportunities and regulatory challenges facing tech acquisitions. Speaking at a Harvard Business School event, Stanton also noted US regulators' impact on major tech companies' ability to acquire AI startups.
Seattle Recruiting Startup SeekOut Cuts 7% Staff Amid Restructuring, Plans Growth to 225 Employees in 2024
Seattle-based recruiting software startup SeekOut laid off 16 employees (7% of its workforce) in a restructuring but plans to grow its team to 225 employees by year-end. The company, valued at over $1.2 billion after raising $115 million last year, uses AI technology and serves over 1,000 clients including Salesforce and McKinsey.
Scaled Foundations Launches AI Platform GRID to Enable Natural Language Programming of Robots, Backed by Khosla Ventures and E14
Scaled Foundations, a Seattle-based startup led by former Microsoft executive Ashish Kapoor, has launched an AI-powered platform called GRID to simplify programming robots through natural language prompts. Backed by Khosla Ventures and E14, the platform enables non-technical users to command robots like drones for complex tasks by integrating AI models and simulations.
Statsig Founder Vijaye Raji on Product Building, Launching a Startup, and AI
Today, Madrona Managing Director S. Somasegar talks with Statsig founder and CEO Vijaye Raji, who spent 20 years at Microsoft and Facebook before launching Statsig as a way to bring the powerful tools he was used to using inside Facebook to all builders. Statsig experimentation platform and automated AB testing helps companies make product decisions in a data-driven way at scale, which means shipping the right products faster. Vijaye and Soma go way back and take a little trip down memory lane, talking about Microsoft's Small Basic. But then they dive into what it's like transitioning from big tech to…
People
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Kevin Weil Executive, Former Vice President of OpenAI for Science, Vice President
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Vijaye Raji Executive, CTO of Applications
