🕶️ Big bets on AI continue

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Six bullets of updates

1. 🦘 Ubisoft shares were set for the biggest one-day jump on record after the company's major shareholder and founders took over its report.

2. 🔊 Meta, challenging OpenAI, announces a new AI model to generate realistic-seeming video with sound. It’s called Movie Gen.

3. 👓 Two Harvard students used Ray-Ban Meta Smart Glasses to highlight privacy risks by identifying strangers and accessing their personal info.

4. 🔝 Here are 49 of the most promising fintech startups transforming how we bank, invest, work, and pay, according to 27 top investors

5. 🛬 In the past two weeks, 13 travel startups have raised over $600M in venture capital. What does it say about the industry? 

6. ⚗️ Why does the OpenAI-to-Anthropic pipeline remain so strong? Cofounder Durk Kingma became the latest high-profile figure to make the move.

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AI funding booms in Q3 despite fewer deals

Investor interest in AI remains strong, with AI-related startups raising $18.9 billion in Q3, making it the second-largest quarter for AI funding since the release of ChatGPT.

Though it's a 19% drop from Q2, it's still a 30% increase from last year. Major funding rounds included Alphabet's $5 billion investment in Waymo and Safe Superintelligence's $1 billion round. While deal flow has dropped by 22%, significant investments are flowing into established startups, shifting focus away from early-stage companies.

This trend reflects investor confidence in more proven AI technologies despite a more cautious approach toward smaller, younger ventures. Expect significant investments in Q4, especially with OpenAI’s recent $6.6 billion raise, as big players dominate the AI landscape. Read more! 

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Startup Events and Deadlines

1. Breakthrough, by 6sens | October 7 - 10 | Las Vegas

2. StartX (Stanford-StartX Fund) | October 10 | USA

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

4. Financial Modeling Bootcamp | October 14 - 18 | Webinar

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

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Meet Sonar: Modern Outbound Unlocking B2B Growth

With so many channels and no clear roadmap for how to use them, growth can feel overwhelming. Spend less time on outbound and more time closing deals by meeting the right B2B buyers, right where they are with Sonar.

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These companies just raised money

1. 💊 Kailera launches with a $400M series A and a clutch of Chinese obesity drugs. Atlas Venture and Bain Capital Life Sciences co-led the series.

2. 🩻 Aktis Oncology raises $175M to advance the radiopharmaceutical pipeline. RA Capital Management led the round.

3. 🛰️ Impulse Space secures $150M in series B Funding to support ongoing company momentum.

4. ⚕️ CA-based radiopharmaceutical company Nusano has received $115M in a funding round for initial medical isotope production.

5. 🧊 As data center usage heats up, Submer raises $55.5M to cool things down and scale its business, valuing it at half a billion dollars.

6. 👩‍🚀 Impulse Space has landed a $34.5M contract from the Space Force for two ultra-mobile spacecraft missions.

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Sustainability vs. profit: Lessons from food startups

The recent trajectory of food startups highlights the challenges of balancing sustainability with financial viability. While many companies have aimed to revolutionize traditional agriculture with more eco-friendly practices, their success often depends on more than just promoting sustainability. Startups must offer high-quality products, competitive pricing, and strong branding in addition to their environmental focus.

While helpful in scaling businesses quickly, venture capital funding has proven risky for many produce startups. When investors don’t see quick returns, companies face financial difficulties, as seen in several high-profile bankruptcies. Entrepreneurs in agriculture are encouraged to seek alternative financing options like farm credit or slower growth models to avoid over-reliance on venture capital.

Ultimately, the startup landscape teaches important lessons: sustainability alone isn't enough for long-term success. Financial responsibility, smart branding, and finding a niche in the market, alongside eco-friendly practices, are critical for building a lasting business. Read more! 

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Never make an MBA your co-founder

This video examines the debate on MBAs and tech startup success, highlighting the disconnect between traditional business education and the fast-paced tech world. It questions whether an MBA is crucial for startup success today, noting how outdated methods often clash with lean startup principles and the challenges MBA founders face. Subscribe here! 

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