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- Google to add AI chat to search, global VC funding drops 53% y/y in Q1
Google to add AI chat to search, global VC funding drops 53% y/y in Q1
Google CEO Sundar Pichai confirmed the company would add chat-like AI features to its search product; search accounts for over 50% of Google’s total revenue, and Pichai is optimistic that the opportunity is larger than the threat- Link
Crunchbase data: Global VC funding in Q1 dropped ~53% y/y from $162B in 2022 to $76B in 2023 - Link
Sensor Tower data: US-based ad spend on TikTok grew 11% in March, with top spenders being Pepsi, DoorDash, Amazon, and Apple - Link
Decentraland, the decentralized metaverse game once valued at $1B, had a 76% y/y drop in virtual attendance to its four-day “Fashion Week” event, despite brands like Dolce & Gabbana, Tommy Hilfiger, and Adidas all sponsoring shows - Link
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Jason hosts another pitch competition featuring three startups from our Founder University program! Apply for Founder University here! - Link
Australia’s financial regulator revoked Binance’s derivatives license, ordering the world’s largest crypto exchange to wind down its derivative offering by April 21 - Link
Bloomberg sources: US chip imports grew to $4.86B (+17% y/y) in February, with ~83% coming from Asia; chip imports from India and Cambodia increased by 3400% and 697%, respectively, while imports from China fell 7.8% - Link
Disney named Hulu president Joe Earley as president of its DTC entertainment unit, which oversees Disney+ and Hulu; Michael Paull, who was in charge of Disney’s streaming ops since 2017, is leaving the company - Link
Bloomberg sources: Big tech companies have had to stall layoffs in the EU due to strict labor protections; Amazon and Google have responded by offering generous severance packages to staff in exchange for leaving voluntarily - Link
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