Tiger Global marks down $12.7B VC fund by ~20%, SeatGeek confidentially files for IPO

The Information sources: Tiger Global told LPs of its $12.7B venture fund that they had recorded a paper loss of 20% as of Dec 2022; 170 of the 250 companies Tiger invested in are worth less than when they had initially invested - Link

The Information sources: Digital ticketing platform SeatGeek has confidentially filed for an IPO and expects ~$500M in revenue this year; the company previously planned to go public via SPAC, but the deal was canceled due to macro factors - Link

Stability AI launched a series of generative AI models to compete with GPT-4; StableLM can be found on GitHub and Hugging Face and is currently in alpha - Link

Elon Musk indicated he is considering legal action against Microsoft after it dropped Twitter from its Smart Campaigns ad platform; Musk claims Microsoft unlawfully used Twitter's data to help train AI models - Link

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Runway CEO Cristóbal Valenzuela joins Jason to discuss their suite of generative AI video editing tools (3:03), Runway's AI Film Festival and the rapid evolution of filmmaking (22:21), the company’s ability to lower the barrier to entry for aspiring filmmakers (36:05), and more! - Link

Bloomberg sources: Before launching Bard publicly, Google employees expressed concern during internal testing, with some urging strongly to not release the chatbot due to risks of ineffectiveness and incorrect information - Link

Snap updated its rev share policy to include users who have a minimum of 50K followers and 25M monthly views; Snap's platform "Spotlight" now has 350M MAUs compared to 1B on TikTok and 1.5B on YouTube Shorts - Link

Seagate agreed to pay a $300M fine for violating US export sanctions against Huawei; Seagate shipped $1.1B worth of equipment (~7.4M hard drives) to the Chinese company between August 2020 and September 2021 - Link

EdgeQ, a company that develops chips to power 5G, raised $75M to ramp up production; the company's valuation is in the "hundreds of millions" but less than $1B - Link

This Week in Startups

E1724: Building the future of VFX and video editing with Runway CEO Cristóbal Valenzuela

E1723: Google’s search engine “panic,” AI-generated hits, Coinbase considers leaving US market

E1722: Uizard’s Tony Beltramelli on text-to-UI & PMF + building a Notion CRM w/ Kelly Schricker

E1721: Hyfe’s Joe Brew on using AI to quantify coughs + Presh on generating content with ChatGPT

E1720: The rise of AutoGPTs and AI anxieties with Sunny Madra and Vinny Lingham

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