Amazon enters the car sales market

Top News

• Speak raises $78M at $1B valuation: Speak, an OpenAI-backed language-learning app, raised $78M in a Series C led by Accel, doubling its valuation to $1B. The app uses generative AI to teach languages through audio conversations and speech drills, focusing on practical communication. With over 10M downloads, Speak aims to expand from teaching English into Spanish and French while maintaining its focus on efficacy over gamification.

• ElevenLabs linked to in Russian Op: A report by Recorded Future reveals that ElevenLabs’ AI voice generation tech was “very likely” used in a Russian operation targeting Europe, dubbed “Operation Undercut.” The campaign used AI-generated voiceovers in fake news videos to undermine support for Ukraine. ElevenLabs, which grew ARR to $80M this year, has faced prior misuse allegations.

• Amazon launches Amazon Autos: Amazon is entering the car sales market with Amazon Autos, starting with Hyundai in 48 U.S. cities. Customers can search for new cars, secure financing, and schedule pickups online. The platform promises transparent pricing with no haggling, with plans to expand to more cities and automakers in 2025.

TWiST500

Today, I’m adding Safe Superintelligence (SSI) to the TWiST500 (pending Alex’s final approval). Honestly, we don’t know a lot about SSI yet, but what we do know makes it hard to ignore.

The company was founded this year by Ilya Sutskever (former OpenAI chief scientist), Daniel Levy (ex-OpenAI engineer), and Daniel Gross (former Y Combinator partner). In just a few months, they’ve raised $1 billion at a $5 billion valuation from investors like a16z, Sequoia, and Nat Friedman’s NFDG. Their mission? To build safe superintelligence... The founders don’t give us much more than that, as you can see from their website.

As they put it, "We have started the world's first straight-shot SSI lab, with one goal and one product: a safe superintelligence. Our singular focus means no distraction by management overhead or product cycles, and our business model means safety, security, and progress are all insulated from short-term commercial pressures."

The timing is definitely relevant. AI safety is a growing concern, and SSI’s founders aren’t just responding to the conversation; they’re trying to lead it. That said, they’ve been vague about their roadmap and what exactly they’re building, so it’s hard to know how long this will take—or what it will look like.

Still, as a new member of the LAUNCH investment team, I’ve learned that betting on great founders is often the best move you can make. And this team? I’m willing to bet on them—especially when I see who else already has. — Maddie

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This Week in Startups

E2056: Jason and Alex sit down with Anthony Pompliano to unpack Bitcoin's resurgence and MicroStrategy’s high-stakes strategy. They dive into Reddit’s new Answers feature, exploring its potential to reshape the platform and its impact on the broader tech landscape. The episode wraps with a deep dive into SEC accreditation rules and the Kids Online Safety Act’s far-reaching implications for social media.

E2055: Jason and Alex open with a quick dive into the economic outlook, job data trends, and the tragic murder of United Healthcare’s CEO. Menlo investor Deedy Das joins the show to weigh in on "quiet quitting" and its impact on engineering teams. Then, Coffeezilla makes a special appearance to unpack the cautionary tale of Haliey Welch's $HAWK memecoin fiasco. The episode wraps with insights on regulatory challenges, Silicon Valley's government influence, and AI's growing role in policy. This is a must-watch!

E2054: Jason and Alex kick things off with a look at SEC leadership changes and corporate security concerns before welcoming Mike Sherbakov (Veteran fund) and Herbert Dwyer (EMPEQ) to discuss EMPEQ's tech and SaaS growth. Jason and Alex highlight updates from Twist500, including a feature on Hugging Face's recent progress. They also have a quick look at the state of EU startup culture and wrap up with a great discussion on capitalism's role in safety nets.

TWiST Partner Offers

• Ramp: The corporate card and spend management software designed to help you save time and money. Get $250 when you join Ramp today at https://www.ramp.com/twist.

• Zendesk: The best customer experiences are built with Zendesk. Qualifying startups can join their Startup program and get Zendesk products free, for six months! Visit http://www.zendesk.com/twist today to get started.

• DigitalOcean: Whether you’re just getting started with AI, or seeing your project take off, DigitalOcean is the cloud platform that lets you focus on what matters: building killer apps. Right now get up to $100k in free credits at https://www.do.co/twist. Terms and conditions apply.

LAUNCH Cloud Kitchens Incubator

Applications are open for Cohort 2 of the LAUNCH CloudKitchens Incubator (LiCK). We're looking for food entrepreneurs who wish to expand into the ghost kitchen space or tech founders with a team and a great idea. The application and more information can be found at https://ck.launch.co/.

The TWiST500 newsletter is the new, updated, and improved TWiST Ticker.