T. Rowe Price marks down its Canva investment, Stability AI founder accused of making "misleading claims"

T. Rowe Price marked down its Canva investment by 67.6%, putting the Australian startup's valuation at ~$13B; in response, Canva noted it was profitable and had recently surpassed 135M MAUs - Link

Multiple former Stability AI employees accused founder Emad Mostaque of making “misleading claims” about himself and the company, in interviews with Forbes. Mostaque defended himself saying the report was filled with “inaccuracies.” - Link

Zume Pizza, a startup that raised $375M from SoftBank and ~$445M in total, has shut down after pivoting from robotic pizza-making to sustainable packaging - Link

Academic researchers and startup Illumina teamed up to train an algorithm called PrimateAI-3D on 4.3M common genetic variants found in hundreds of primate species; the algo was then used to find rare genetic variants in humans - Link

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Sunny and Vinny are back to break down what's next after AI layoffs(30:10), discuss RunwayML's massive valuation (52:09), and more! - Link

The US Consumer Financial Protection Bureau (CFPB) warned consumers that P2P payment apps like PayPal, Venmo, and Cash App are not FDIC insured - Link

Swing Education, a startup building a marketplace that connects schools with substitute teachers, raised a $38M Series C co-led by PE firm Apax Partners and Reach Capital - Link

Spotify announced it will reduce its workforce by 2% (200 employees) from its podcasting division. Spotify has acquired four podcasting-related companies in the past three years in deals totalling $526M. - Link

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