🕶️ Game-changing AI partnership: PwC said YES!

Six bullets of updates

1. 🧑‍💼 Sam Altman was temporarily ousted as OpenAI's CEO after allegedly withholding info and misleading the board.

2. 🇪🇺 France and Germany compete to lead EU tech, with France overtaking Germany in 2022 as Europe's 2nd best-funded ecosystem

3. 📱 Founder Alex Taub predicts memetech will be the next big thing, aiming to disrupt the meme industry.

4. 📈 Pinterest expands its Creator Fund to support diverse founders, teaming up with Shopify's Build Black and Build Native programs.

5. 🛡️ The EU plans to implement the AI Act this summer, establishing an AI Office to oversee the governance framework.

6. 💡 CodeGen startup Mistral debuts its first generative AI model for code, valued at a whopping $6 billion.

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PwC integrates ChatGPT Enterprise across workforce

OpenAI has partnered with PwC, enrolling 100,000 of its employees into the ChatGPT Enterprise tier, marking a significant milestone as PwC becomes OpenAI’s first resale partner. The enterprise tier of ChatGPT offers enhanced features, robust data encryption, and ensures customer data privacy, which is crucial for large organizations concerned about data security and regulatory compliance. This partnership aligns with PwC's strategic $1 billion investment to scale its AI capabilities over the next three years, aiming to revolutionize business operations through AI​.

OpenAI’s ChatGPT Enterprise has seen rapid adoption since its launch in August 2023, with 260 businesses and over 150,000 users subscribing to the service. Despite initial concerns about the high costs associated with enterprise AI solutions, many companies have embraced the technology for its ease of use and comprehensive support. This demand underscores the corporate world's growing interest in integrating AI to enhance productivity and decision-making processes. Read more!

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Startup Events and Deadlines

1. How to close a Funding Round (it’s not just the pitch deck) | June 4 | Webinar

2. SaaStr Europa (London) | June 4-5 | Conference

3. South Summit: Madrid | June 5-7 | Summit

4. Crash Course in Financial Modeling | June 18 | Course

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These companies just raised money

1. 💰 CloudWalk secures $313M to accelerate receivables anticipation, leading a notable week in fintech funding.

2. 💼 Relay raises $50M to enhance its SMB-focused money management platform, serving over 140,000 businesses.

3. 🧠 Feel raises $20M Series B for its mental health insurance platform, aiming to expand services and reach.

4. 🏥 Mexican Welbe Care secures $7M Series A for expanding occupational health solutions, backed by Volpe Capital & IFC.

5. 🎨 Exactly.ai lands $4M to help artists use AI to scale their output while retaining legal ownership of their art.

6. 🧑‍🎨 Creator fintech Slingshot raises $2.2M to provide financial services to artists seeking economic sustainability.

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Transformers: neobanks becoming mobile networks

The recent trend of neobanks expanding into mobile network services is gaining momentum, with Nubank entering the fray. Neobanks like Nubank are leveraging their tech-driven, customer-centric models to offer seamless financial and communication services, capitalizing on the integration of banking and mobile networks. Nubank's move aims to enhance customer engagement and broaden its service portfolio, providing a one-stop solution for digital-savvy users. This strategy underscores the evolving landscape where financial and telecom services converge, driven by innovative approaches to meet diverse customer needs​.

For founders, this trend underscores the importance of cross-industry integration to enhance customer experience.

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Why everything became a subscription - Company Forensics

Subscriptions have become a monthly tax, a monthly cost to live our internet-heavy lives- the cost we pay for music or our TV content. It wasn’t always like this, and many subscription services have made our lives a lot easier- but the ultimate truth is subscriptions are getting people to spend more, a lot more than they used to 😎 Subscribe for more!