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Six bullets of updates

1. OpenAI strengthens its AI offerings with the acquisition of Chat.com, enhancing its conversational AI technology.

2. On election night, Elon Musk's Grok faltered, while Perplexity stood out, providing real-time insights and attracting record traffic.

3. Trump's election win could significantly impact Silicon Valley, with major implications for trade, tech regulation, and industry growth.

4. SpaceX preps for its sixth Starship flight test, aiming for more reusability milestones with improved booster recovery and upper-stage maneuvers.

5. Hybrid work boosts job satisfaction and reduces quit rates by 33%, with no loss in productivity, according to a new study.

6. Nodal revolutionizes surrogacy with a tech-driven matching system, saving over $5M in fees and cutting wait times to just 45 days.

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Big changes ahead! Trump’s AI playbook tosses Biden’s rulebook

With Donald Trump’s recent election win, the U.S. AI regulatory landscape is poised for a shift. Trump’s administration and a Republican-led Senate are set to dismantle Biden’s AI Executive Order, which was established in 2023 to encourage safe AI practices across sectors. This executive order mandated voluntary measures to address AI safety and security, including requirements for companies to report model vulnerabilities and biases. However, Trump’s supporters argue these measures discourage innovation, contending that they add unnecessary burdens on companies and even pose a threat to trade secrets. In contrast, Trump has signaled a preference for minimal intervention, focusing on policies that protect free speech and encourage AI development.

This shift may leave room for states like California to advance their own AI laws, while Trump’s administration could enforce stricter trade policies, potentially restricting AI tech exports to China and imposing tariffs on AI-critical imports. Experts warn that this approach might reduce collaboration on global AI safety while making AI regulation increasingly partisan, despite the need for cooperative governance across borders.

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Startup Events and Deadlines

1. AcceleratorCON | November 8 | New York City

2. Financial Modeling Bootcamp | November 11-15 | LIVE 1-week bootcamp

3. Techstars Columbus | November 20 | Columbus

4. Techstars New York City Accelerator | November 20 | New York City

5. Techstars Anywhere Accelerator | November 20 | Remote

6. Techstars San Francisco | November 20 | San Francisco

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FreshBooks all-in-one accounting

FreshBooks is an easy-to-use billing, payments, and accounting platform that streamlines your bookkeeping and keeps you tax-time ready all year round.

The ideal solution for small businesses, FreshBooks automates invoicing and expenses, processes payments, connects bank accounts, and provides real-time reporting. As you grow, level up with team management, payroll, accountant access, and more.

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These companies just raised money

1. 📊 Amber Hill’s Research Grid automates clinical trial admin, raising $6.48M to boost efficiency and promote diversity in healthcare.

2. 💳 Brazilian fintech Oxpay secures $3.5M from SRM Ventures to grow digital account TPV by 10x by next year.

3. 💼 Stay raises $2.6M to expand its private pension offerings in Brazil, aiming to double its team by 2024.

4. 🚀 Iberian VC firm Faber launches its third fund, securing €31M of a €60M target, with a focus on deep tech and AI innovation.

5. 👓 Brazilian healthtech Central da Visão raises $1.7M to expand affordable eye surgeries beyond 14 states.

6. 🤖 Ecuadorian startup Patagon AI raises $1.1M to enhance AI-powered sales, optimizing processes across LatAm.

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Small funds, big bets: why 2024's VCs are shrinking but focused

In 2024, fewer small and midsize U.S. venture funds are closing new rounds, with just 118 raising funds of $500 million or less, a significant drop from previous years. This slowdown aligns with a lack of tech IPOs and a cautious funding environment after the high of 2021. Venture firms from the 2022 vintage, for example, have deployed a historically low percentage of capital due to uncertain market conditions.

Moreover, small funds are raising less capital overall—$13.7 billion so far, marking a multi-year low. Larger funds are gaining an advantage as funding round sizes increase, with major rounds going to deep-pocketed firms.

Despite this, intriguing funds have launched, particularly in sectors like cleantech, cybersecurity, and digital health. Among notable players, The Engine Ventures, Clean Energy Ventures, and Ballistic Ventures have raised substantial amounts for sector-focused initiatives, while newcomers like Beta Boom and JFF Ventures are investing in niche, underserved markets. See more.

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NEVER outsource your Minimum Viable Product (MVP)

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