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

E1714: Startup pitch competition: Jason invests $25K

E1713: Saudi Arabia discloses LP positions & SEC charges Frank founder with fraud

E1712: Trump, Saudi, & Adam Neumann’s obsession with cities + BioFluff CEO Martin Stübler

E1711: Stephen Wolfram on AI’s rapid progress & the “Post-Knowledge Work Era”

E1710: Crypto’s de-platforming and the balkanization of AI with Vinny Lingham

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