🕶️ Is the AI industry consolidating?

Gen Z at work: bridging the gap with smart onboarding

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Arturo Pardo & Paula Echeverria
June 15, 2024

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If you’re celebrating Father’s Day this weekend, may your day be filled with joy and as much relaxation as you can squeeze in between dad jokes and barbecues. 🧢🍖 In the meantime, we have news for you.

What should you consider in your startup when learning that millions of recent college graduates are joining the job market and many feel they need to be equipped? This is what Gen Z workers are looking for.

In other news, Hugging Face CEO, Clément Delangue, considers that the AI industry is consolidating while he knows of at least 10 AI startups a week that want to be acquired. And if you like drama, learn why Ripplings’ recent tender offer is dividing its employees and investors.

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Six bullets of updates

  1. 🆚 Rippling's recent $500M tender offer has sparked intense debate among employees and investors.

  2. 🔋 Unigrid aims to revolutionize batteries by using sodium, making them cheaper and safer, with immense potential.

  3. ✂️ Brex shifts to a single CEO model and cuts cash burn in half; aims for IPO in 2025.

  4. 💰 In the UK, Labour's 2024 manifesto promises tech investments for the NHS and green energy but lacks startup specifics.

  5. 📄 Two European AI leaders, Aleph Alpha and Silo AI, partner to boost "sovereign AI" across the continent, backed by $500M.

  6. ⚥ Legislation on salary transparency is improving the gender pay gap in startups, says Ravio. But more work remains.

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Gen Z at Work: Bridging the Gap with Smart Onboarding

Over 2.4 million college grads will join the workforce this year, yet many feel unprepared. A survey by CYPHER Learning found nearly two-thirds of Gen Z workers are dissatisfied with their job readiness, emphasizing the need for better training and development programs.

Gen Z values professional growth, with 70% considering it crucial when choosing a job. Companies can enhance onboarding with dedicated learning programs, buddy systems, senior mentors, and 90-day feedback. These strategies can help new hires assimilate and thrive, fostering productivity and long-term retention. Read more here. 

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Startup Events and Deadlines

  1. Financial Modeling Bootcamp | June 17 | Live 1 week Bootcamp

  2. How to close a Funding Round (it’s not just the pitch deck) | July 2 | Webinar

  3. Crash Course in Financial Modeling | July 10 | Webinar

  4. Financial Modeling Bootcamp | July 22 | Bootcamp 

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These companies just raised money

  1. 🚘 GM gives Cruise an $850M lifeline and relaunches its robotaxis in Houston, aiming for a smoother ride.

  2. 🥐 Paris-based AI startup Mistral AI raises $640M in Series B, marking one of Europe's most significant tech investments.

  3. 👑 Masha Bucher raises largest fund of $150M, solidifying her status as a VC powerhouse.

  4. ❄️ Collaborative Fund raises $125M to invest in climate, health, and food innovation, post hits like Reddit.

  5. 🩺 Anterior secures $20M from NEA at a $95M valuation to speed up health insurance approvals using AI.

  6. 🇨🇱 Chilean healthtech FarmaLoop raised $900K at an $18M valuation; saved 200K medications and delivered $880M in patient savings.

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AI Startups: The Rising Wave of Acquisitions

Yahoo Finances

Hugging Face, the multi-billion dollar AI community startup, recently completed its fourth acquisition by purchasing the AI collaboration platform Argilla for $10 million. CEO Clément Delangue notes a significant increase in acquisition inquiries, with at least 10 startups reaching out every week.

This trend indicates a consolidation within the industry, with major tech companies like Apple, Google, and Meta acquiring numerous AI startups. Hugging Face's recent $235 million funding round and its $4.5 billion valuation highlight the sector's rapid expansion and the growing attractiveness of AI startups. Read more.

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SaaS Growth Calculator

A growth calculator that lets you forecast the impact of your ARPU (average revenue per user) and Churn Rate on the long-term potential of your subscription business.

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Why did everything become a subscription?

Subscriptions have evolved into a regular monthly expense, a necessary cost to sustain our internet-centric lifestyles. This was only sometimes the case; many subscription services have indeed simplified our lives. However, the undeniable reality is that subscriptions lead people to spend significantly more than they used to. 📺 Talking about subscriptions: Subscribe to our YouTube channel for more insights!