7000+ Subreddits go dark in protest, A16Z merges finance and consumer teams

More than 7000 subreddits have gone dark in protest of Reddit’s API pricing changes, which could kill many popular third-party apps instantly - Link

The Information sources: A16Z merged its finance and consumer investment teams into one “apps” team, led by general partner Alex Rampell; the new group is encouraged to focus on AI deals - Link

CNBC sources: The FTC is set to file for an injunction to attempt to block Microsoft’s ~$69B acquisition of Activision-Blizzard before the July 18th deadline - Link

Meta's new AI model, MusicGen, generates original music using text or audio prompts, similar to Google's MusicLM; the model is now open-sourced and available for commercial use - Link

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DoorDash Chief Product Officer and Co-Founder Stanley Tang joined Jason live on stage at Angel Summit to discuss DoorDash’s founding story, avoiding ZIRP distractions, and the ghost kitchen movement (1:23).

Then, Jason sits down with Kelli Fontaine of Cendana Capital, Sophia Amoruso of Trust Fund, and Paige Doherty of Behind Genius Ventures to chat about becoming and investing in first-time fund managers (36:49). - Link

The contents of this episode were recorded live at LAUNCH Angel Summit in Napa!

A16Z is opening its first office outside of the US in London, with plans to locate its next crypto accelerator program there; the firm is also leading a $43M investment in Gensyn, a London-based decentralized computing network for training AI models - Link

A former Samsung exec is being accused by South Korean prosecutors of stealing confidential semiconductor data in an attempt to create a twin chip facility in China; the alleged theft could potentially cost Samsung upwards of $233M - Link

WSJ sources: The US government plans to extend existing export exemptions, allowing Taiwanese and South Korean semiconductor producers to maintain and grow their chip operations in China - Link

HSBC rebranded SVB UK into HSBC Innovation Banking, following its £1 acquisition of SVB UK’s assets in March; First Citizens is currently suing HSBC over alleged poaching of SVB staff - Link

This Week in Startups

E1759: DoorDash Co-Founder Stanley Tang on founding story, lessons + First-time fund manager panel

E1758: How AI companions can help solve loneliness with Replika’s Eugenia Kuyda

E1757: Using AI to diagnose Dementia with Vistim Labs James Hamet + Jason LIVE at iConnections

E1756: Rory's brain vs ChatGPT, outrageous marketing, work trends and MUCH more w/ Rory Sutherland

E1755: RunwayML, AI Steve Jobs, & more with Sunny Madra & Vinny Lingham

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