Latest in FTX trial, DeepMind cut staff expenses by 39% in 2022

Latest in FTX trial: On Caroline Ellison's second day of testimony, she noted that SBF justified illegal actions by practicing utilitarianism: the means are justified if maximizing the amount of good is the result - Link

Bernstein analysis: Google pays Apple between $18B-$20B/year to remain the dominant search engine on the iPhone, representing 14-16% of Apple's annual operating profits - Link

Google-owned DeepMind cut staff-related expenses by 39% last year from £969M in 2021 to £595M in 2022, as revenue fell 21% - Link

Apple spent between $200M-$250M on production for Martin Scorsese's Killers of the Flower Moon and plans to spend $1B/year on films that will appear in theaters before they're available on Apple TV+ - Link

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Zach Coelius joins Jason to discuss the phases of early-stage startups (2:01), break down the state of VC (13:17), answer live questions from the audience (22:36), and much more! - Link

JPMorgan Chase launched its TCN (Tokenized Collateral Network); BlackRock used TCN to turn shares in one of its funds into digital tokens, which it transferred to Barclays as part of an OTC trade - Link

Gutsy, a cybersecurity startup, emerged from stealth with a $51M Seed round co-led by YL Ventures and Mayfield - Link

EU officials warned X owner Elon Musk about its compliance with the EU's rules around hosting misinformation and illegal content due to posts on X regarding the Hamas terror attacks in Israel - Link

CA Governor Gavin Newsom signed the Right to Repair Act into law; the law states that manufacturers must make tools, parts, software, and documentation available for seven years for devices priced above $100 - Link

This Week in Startups

E1826: State of early-stage VC, finding PMF, Caroline Ellison testifies & more with Zach Coelius

E1825: Bill Gurley and Sunny Madra talk open-source vs. proprietary AI

E1824: NEWS: Breaking down SBF's trial and the downfall of FTX

E1823: NEWS: Anthropic targets $20B+ valuation, Flexport chaos & more!

E1822: Kayak CEO Steve Hafner of the state of travel, AI's place, hospitality trends, and more!

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