🕶️ From AWS to AI wannabe: execs are jumping ship

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Seven bullets of updates

1. 🔥 Raj Aggarwal exits AWS to launch a startup after boosting pipeline by 4.9% with generative AI initiatives.

2. ⚖️ Elon Musk’s oversight of DOGE likely breaches the U.S. Constitution, per a Federal Judge—legal drama unfolds.

3. 📱 Telegram hits 1B users, reports $547M profits, and calls WhatsApp a "cheap imitation."

4. 📈 Dutch unicorn Mews eyes a potential US IPO, fueled by $411M raised and 50% YOY growth in 2024.

5. 💰 Nvidia acquires Gretel for over $320M, enhancing synthetic data for AI training and tackling data scarcity.

6. 📊 Shopify moves its US listing from NYSE to Nasdaq, aiming to attract more tech investors and better valuations.

7. 📉 Generative AI is causing corporate rifts, with 42% of executives saying it’s dividing their teams.

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Deep Research: your overpriced AI intern or the future of work?

OpenAI’s Deep Research agent is making waves in white-collar work automation, offering a more sophisticated AI model capable of independently navigating the web, analyzing content, and compiling detailed reports. Initially tested internally, its popularity led to a public release as part of the ChatGPT Pro plan at $200/month. Users, including Stripe CEO Patrick Collison, praise its ability to streamline research-heavy tasks. Unlike basic AI chatbots, Deep Research engages in simulated reasoning, allowing it to refine its approach dynamically. Researchers believe this advancement signals a shift toward AI-driven automation in complex office tasks.

Despite its potential, Deep Research has limitations, struggling with distinguishing authoritative information and calibrating confidence levels. OpenAI envisions expanding its capabilities to handle broader office functions, possibly integrating company-specific data. Competitors like Google DeepMind and Musk’s Grok are developing similar tools, but OpenAI’s model, powered by OpenAI o3, currently leads in sophistication. Experts see AI agents as the next step in AI evolution, though widespread adoption depends on refining accuracy and reliability. As AI assistants evolve, they may redefine how professionals conduct research, making high-level analysis more accessible and efficient.

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These companies just raised money

1. 💰 Ribbit Capital is raising a $500M fund, signaling fintech's resurgence with IPO momentum and rising valuations.

2. 📈 Dataminr raises $85M in pre-IPO funding to expand its global reach, with 800+ customers and $200M ARR.

3. ⚖️ Brazilian legaltech Jusfy secures a Pre-Series A at a $30M valuation to advance AI-driven legal and financial products.

4. 📊 Prezent raises $20M to enhance AI-powered slide decks, already serving 150+ Fortune 2000 firms and eyeing global expansion.

5. 🔍 Hunted Labs secures $3M from an ex-NSA deputy to combat suspicious open-source contributions using security expertise.

6. 🏡 Multiply lands $23.5M Series A to offer mortgage benefits, cutting rates by up to 0.75% for tech employees.

7. 🛒 Zíro secures funding from Sustainable Futures to empower 100K small retailers in Colombia with short-term loans.

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Elon Musk’s X rebounds to $44B valuation

X’s valuation has reportedly climbed back to $44B, the same price Elon Musk paid in 2022, per the Financial Times. However, a Bloomberg report values the company at $32B, citing a recent $1B equity raise, in which Musk participated.

Despite revenue declines post-acquisition, X posted $1.2B in adjusted earnings for 2024, matching pre-Musk levels. This marks a sharp financial turnaround from Fidelity’s $10B valuation estimate last year.

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Startup Events and Deadlines

1. Alchemist Accelerator | Deadline: March 21 | USA

2. GEN Z Entrepreneur and Networking | March 21 | New Delhi

3. TechWalk | March 23 | Bangalore

4. Techstars Columbus | Deadline: April 1 | USA

5. Startup Grind Conference 2025 | April 19-30 | USA

6. Entrepreneurs Roundtable Accelerator | Deadline: April 28 | USA

7. Startup Battlefield 200 | Deadline: June 9 | Global

8. Entrepreneur First London - Summer | Deadline: July 1 | UK

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