Six bullets of updates

1. 🚗 California plans to offer EV rebates if Trump ends the $7,500 federal tax credit; over 594k vehicles were funded before.

2. 💨 OpenAI's GPT-4 Turbo update enhances creative writing and AI safety with improved fluency and red teaming.

3. 🗂️ Anthropic is proposing a new standard for connecting AI assistants to the systems where data resides.

4. 🥒 Create a virtual clone with Pickle for $300/year to skip conference calls; the PC version is coming soon!

5. 🗑️ Unused code can clog your app like plaque in arteries. Nearly 20% of builds up, slowing everything down.  It's time for a code health check! 

6. 🔼 Mexico’s Economic Boom: Nearshoring has turbocharged Mexico's economy, creating fertile ground for startups.

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New U.K. lab to counter AI-driven attacks

The U.K. is launching the Laboratory for AI Security Research (LASR) to counter AI-driven cyber threats from hostile states like Russia. Backed by an initial government investment of £8.22 million ($10.3 million), the lab aims to attract additional funding from industry collaborators. Chancellor Pat McFadden emphasized the importance of vigilance, stating, “We are watching Russia… and countering their attacks both publicly and behind the scenes”.

LASR’s mission is to protect the U.K. and its allies by leveraging partnerships with GCHQ, the Alan Turing Institute, and academic institutions such as Oxford University. Collaboration with NATO members and Five Eyes countries will strengthen efforts against nation-state attacks, increasingly exploiting AI to adapt and evade detection.

The U.K. views AI as both a risk and a tool for defense, offering advanced methods for cyber threat detection and intelligence analysis. This initiative complements broader efforts, including the proposed Cyber Security and Resilience Bill to safeguard critical infrastructure like hospitals from escalating cyberattacks. Read more! 

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Startup Events and Deadlines

1. From Pitch Deck to Funding | Nov 28 | Webinar

2. NYC B2B: Pre-Seed + Seed Founders & Investors Meetup | Dec 3 | NYC

3. Crash Course in Financial Modeling | Dec 5 | Webinar

4. EdTech | Dec 9 | Paris

5. From Pitch Deck to Funding | Dec 12 | Webinar

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These companies just raised money

1. 🎯 Elon Musk’s ChatGPT rival xAI hits $50B valuation after raising $5B in its most recent funding round; surpasses Twitter’s valuation.

2. 💸 Amazon invests another $4B In AI Firm Anthropic, bringing its total investment in the company to $8B over just the past few months.

3. 🔭 Observability company LogicMonitor receives $800M investment that sets company value At $2.4B.

4. ⚔️ Cybersecurity unicorn Cyera doubles its valuation to $3B with $300M Series D, total funding hits $600M in seven months.

5. 🖥️ MatX raises $80M Series A, aiming to outpace Nvidia with AI chips designed for 20B+ parameter workloads.

6. 🗺️ Illumen Capital raises $32.75M Catalyst Fund to back first-time managers, focusing 80% on domestic investments.

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LatAm fintechs are back in the game

Latin American fintech funding is rebounding in 2024, with $2.6 billion invested across 174 deals, a 73% increase from 2023’s $1.5 billion. While still below the 2021 peak of $7.5 billion, this growth reflects a market turnaround as startups hit milestones and attract fresh funding. São Paulo’s Conta Simples, Félix Pago, and Magie are among those securing notable rounds this year.

Despite progress, challenges persist, including limited exits and reliance on local funds. Investors like Mike Packer and Nicolás Szekasy see improved startup quality, with a shift toward infrastructure-focused ventures. However, the region still needs global investors and innovation to close the gap with more developed markets. Read more!

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What NOBODY tells you about selling a startup

Tech startups often secure millions in funding by offering just a small share of equity, banking on the promise of going public or being acquired in the future.

But what no one tells you is how long and complicated selling a company can be—something I learned the hard way 🕶️ What are you waiting to subscribe?

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