Apple goes open-source with their new AI model

Top News

• Apple releases Depth Pro: Apple’s AI team has developed Depth Pro, a cutting-edge model for generating precise 3D depth maps from single 2D images in just 0.3 seconds, without requiring traditional camera metadata. The system, detailed in the paper "Depth Pro: Sharp Monocular Metric Depth in Less Than a Second," offers a breakthrough in speed and accuracy. And even better — it’s open-source. With developers having free reign to use the model, expect to see more advancements in augmented reality and autonomous vehicles.

• Meta now has AI video gen: Meta has announced Movie Gen, a media-focused AI model that generates realistic video and audio clips, including targeted edits to existing footage. Capable of producing high-definition videos up to 16 seconds long, Movie Gen can add objects or alter appearances in scenes and generate accompanying audio. The platform is not yet available for public use, but given the host of companies under Meta’s umbrella, we could be seeing this incorporated into the likes of Facebook, Instagram, and WhatsApp.

• VC isn’t the only way to raise funding: Teague Egan's company, EnergyX, has raised over $170 million from a mix of venture capital and retail investors to fund its lithium extraction technology for EV batteries. By using SEC Regulation A, EnergyX raised $75 million from retail investors, allowing non-accredited individuals to invest, while reducing reliance on traditional VCs. A democratization of investing, if you will (and a founder’s added layer of protection from getting ousted by venture capitalists).

Catch Databricks on TWiST

Alex just brought you another long-awaited TWiST500 interview. E2020 of TWiST came out today, where Alex sat down with Naveen Rao of Databricks, an AI cloud data platform with a hefty $4 billion in total funding. Naveen was previously on the show a year ago, but as the Cofounder and CEO of MosaicML, an open-source startup for companies to train LLMs and deploy GenAI tools. How did he end up at Databricks? Through a $1.3 billion acquisition that transferred the entire MosaicML team to Databricks (and gave Naveen the new title of VP GenAI).

In a full circle moment, we had Naveen back on TWiST to talk about a range of AI-related topics, including Meta's Llama models, open-source AI vs. closed models, Databricks' future plans, and AI's role in enterprise automation. With just over a billion dollars in revenue last year and growing more than 60% YoY, we (especially Alex) are just waiting for their IPO.

Check out the full episode here for more insights. (P.S. You can also catch a Jam with JCal session with Elliot Easterling of Bonbon.tech at the end.)

— Erika

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This Week in Startups

E2019: Jason and Alex begin by discussing the ILA strike and its impact on global ports, followed by an analysis of how technology is increasing efficiency in port operations. They explore the relationship between labor, supply chain vulnerabilities, and unions, digging into the future of port automation and union demands. They also cover startup opportunities in port automation, broader societal impacts of labor changes, and the role of technology in reshaping employment. The show finishes it off with venture capital trends, including CRV's $275M return, IPO market conditions, and OpenAI’s mega-round funding.

E2018: Another throwback to LIQUIDITY Summit 2024. Ben Choi discussed the Fund of Funds strategy, while Michael Downing focused on the challenges and opportunities for emerging manager funds. Then, Monique Woodard walked us through raising her first fund, navigating investor types, and the importance of building relationships for subsequent funds. She also explored strategies for identifying ideal LPs and leveraging a fund’s unique strengths for future growth.

E2017: Jason and Alex begin by discussing the AI regulation bill SB 1047 and its potential impact on the industry, followed by a broader look at AI regulation in California and industry leaders' reactions to the bill's veto. They also explore the concurrent technological supercycles, including AI, self-driving cars, and fusion, before moving into topics like startup success, OpenAI's valuation, and the future of AR/VR technologies.

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Founder University

Applications are open for Founder University Cohort 9, a 12-week remote pre-accelerator program tailored towards navigating early-startup practices, building an MVP, and growing traction. Submit your application at Founder University — Cohort 9 begins on October 25th!

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