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š¶ļø Elon logged out of Washington, logged into crypto chat
Sam Altmanās shaping the future, but who's steering the ship?
While IBM doubles down on its AI ambitions by acquiring Seek AI and Scale AI expands its talent pool through the Pesto AI team, a deeper conversation is unfolding about what we risk losing in the process. Despite promises of efficiency, 81% of customers still crave real human connection.
Meanwhile, the visionaries driving the AI wave, like Elad Gil, are pushing margins from 10% to 40% by using automation to reinvent old industries, and Elon Musk is trading policy influence for encrypted platforms like XChat.
Keep reading for more!
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Seven bullets of updates
š Sam Altman's biography explores his rise at OpenAI and the challenges posed by its unstable governance structure.
š Microsoft's data center boom triggers a 23.4% rise in carbon emissions, straining its 2030 sustainability targets.
š¤ IBM acquires startup Seek AI, folding it into its NYC AI accelerator after the company raised $10M.
š Elon Musk unveils XChat with āBitcoin-styleā encryptionābut skepticism lingers ahead of its mass rollout.
š Stop calling AI a āco-workerāāwith 1.9M jobless Americans, we should empower people, not replace them.
š” AI enhances efficiency, but donāt lose the human touchā81% of customers still want a personalized experience.
š©āš» Scale AI acquires the team behind Pesto AI, adding 50 remote developer specialists to its talent arsenal.
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From 10% to 40% margins: Elad Gilās plan to disrupt traditional business with AI

Photo by Alex Kotliarskyi on Unsplash
Renowned investor Elad Gil, an early backer of AI startups like Perplexity, Harvey, and Character.AI, is now focusing on a new frontier: using AI to reinvent and scale traditional service-based businesses through roll-ups. By acquiring mature firms like law or consulting practices and leveraging generative AI to automate repetitive tasks, Gil aims to dramatically improve marginsātransforming 10% profit models into 40%āand then use that advantage to acquire more companies.
This hands-on, tech-first strategy marks a shift from superficial tech roll-ups of the past, and Gil has already backed firms like Enam Co. and Harvey under this approach. While execution and team composition remain hurdles, Gil sees the AI market maturing rapidly and believes the winners in sectors like legal, healthcare, and customer service are beginning to crystallize. For Gil, itās not just about returnsāitās about the thrill of building at the edge of innovation.
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The WORST Founder Betrayal in Startup History
We dive into the surprising true story behind Snapchat's billion-dollar success. While the two well-known co-founders are credited with creating the app, the real genius behind the idea was Reggie Brown. But a crucial mistake led him to lose out on billions. Watch as we break down the legal battle, the investigation by Billy Gallager, and the leaked deposition of Evan Spiegel to piece together this drama. Who really deserves credit for Snapchat's success? You decide.
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StartEngineās $30M Surge ā Own a Piece Before June 26
Private markets are having a moment, thanks to companies like StartEngine.
The leading alternative investing platform is helping everyday investors like you access deals once reserved for VCs and insiders, including exposure to private market titans like OpenAI, Databricks, and Perplexity.¹
Howās it going? In Q1 2025, StartEngine pulled off $30M in revenue, its biggest quarter ever (based on unaudited financials).²
But StartEngine isnāt just a middleman. The company earns 20% carried interest on select pre-IPO offerings, unlocking value for shareholders when these deals succeed.³
How can you tap into this diversification play? By investing in StartEngine.
StartEngine has crowdfunded $85M+ to date, and you can join 45K+ shareholders before the companyās current round closes on June 26.
Reg A+ via StartEngine Crowdfunding, Inc. No BD/intermediary involved. Investment is speculative, illiquid & high risk. See OC and Risks on page.
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SaaS Growth CalculatorA 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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Breakfast thatās actually F-A-S-T
No more sad granola bars or sprinting out the door with just coffee.
Huel Black Edition is a ready-in-seconds shake packed with: 40g protein, 6g+ fiber, 0 prep. Just shake, sip, go.
Get 15% off your first order + a free t-shirt and shaker with code HUELSPRING, for orders over $75.
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Elon Musk quits Trumpās cost-cutting team

Joshua Sukoff / www.shutterstock.com
Elon Musk has stepped down from his role at Dogeāthe Department of Government Efficiencyāan advisory body created by executive order under President Trump to cut federal spending and reduce bureaucracy. Though not an official department, Doge pursued aggressive cost-cutting measures, including shutting agencies, slashing programs like USAID, and offering mass buyouts to federal workers.
Musk, initially an unpaid special government employee, aimed to save up to $2 trillion but only achieved an estimated $175 billion, with much of it unverified. His departure followed weeks of speculation and came shortly after he criticized a major budget bill, expressing disappointment that it undermined Dogeās efforts. Despite his exit, Trump indicated Musk may still informally advise the White House. Muskās involvement, while drawing praise from some, also provoked public backlash and was linked to a sharp decline in Teslaās sales.
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Startup Events and Deadlines
Startup Battlefield 200 | Deadline: June 9 | Global
Slidebean Webinar: Crash Course on Startup Fundraising l Jun 10 l Online
The Startup Open Mic by CEDAT l Jun 11 l Bengaluru
Techstars New York City Accelerator | Deadline: June 11 | US
Slidebean Webinar: Crash Course in Financial Modeling l Jun 15 l Online
Entrepreneur First London - Summer | Deadline: July 1 | UK
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