🕶️ Oprah, Altman, Gates: the AI truth bombs you can’t miss

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Six bullets of updates

1. 💻 Oprah's AI special with Sam Altman and Bill Gates highlights deepfakes, AI safety, and hopeful innovations.

2. 🇨🇳 China's startup scene is struggling, with venture funding dropping 35% year-over-year, per a new report.

3. 💥 Port of Seattle details a ransomware attack that occurred on August 24, impacting operations and data.

4. 🇪🇪 Estonia's deep tech sector is booming, with startups raising €394M in 2023 and aiming for 500 deep tech companies by 2030.

5. 📋 Tips for thriving in taboo markets: prioritize regulation, avoid tech company runway comparisons, and maintain transparency with VCs.

6. 🕵️ 14 startups to watch in Paris, according to VCs. After Mistral, H and Poolside; who’s next?

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Bolt resolves issues, and now aims for recovery

Bolt, the one-click payments provider, is buying out Activant Capital, which previously sued over a $30M loan to ex-CEO Ryan Breslow. This settlement could mark a fresh start for Bolt, aiming to put legal distractions behind it and focus on business growth. For founders, this highlights the importance of transparent financial governance and the risks of executive loans. 

Breslow's controversial practices had already stirred the fintech world, showcasing how quickly trust can erode in startup ecosystems. It’s a cautionary tale for maintaining transparency and stakeholder confidence. 

This same week, Fanatics, an online sports apparel retailer, has agreed to settle and dismiss a lawsuit it filed against Bolt in March. The settlement came while Bolt was working on securing a significant round of financing, including a potential "cramdown" for its current investors, and as its founder, Ryan Breslow, was trying to return as CEO. Read more! 

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Startup Events and Deadlines

1. Dreamforce San Francisco | September 17-19 | San Francisco

2. From Pitch Deck to Funding | September 18 | Webinar

3. Startup Pitch and Networking | September 18 | NYC

4. Founder Institute Core Program  | Deadline: September 22 | USA

5. Antler Canada | Deadline: September 23 | Canada

6. Crash Course in Financial Modeling | September 25 | Webinar

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These companies just raised money

1. ⚙️ Second Front Systems Raises $70M in Series C Funding to expand its capabilities in software tools for global security and commercial missions.

2. 🩸 Inflammatix raises $57M to support the regulatory filing and early commercialization of its rapid blood test for acute infection and sepsis.

3. 🧠 Strider Technologies secures $55M to accelerate R&D on artificial intelligence solutions.

4. ⚕️ The Boston-based company CSA Medical raises $53M to support metered cryospray tech.

5. 🎶 Blockchain-based music streaming startup Tune.fm raised $50M, intending to reward artists for the time their music is listened to. 

6. 🌊 SpectraWave has secured $50M in a Series B funding round, which it will use to advance commercial expansion and product additions.

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Supermaven joins the growing AI coding revolution

AI coding assistant Supermaven has raised $12M in a round led by OpenAI and Perplexity co-founders. This funding highlights the increasing importance of AI tools in software development. Supermaven aims to streamline coding, potentially reducing development time and errors. 

For startups, leveraging AI like Supermaven could be a game-changer in maintaining lean operations while scaling. This investment underscores the trend of integrating AI into various business processes, offering promising avenues for innovation and efficiency.

The AI coding tools market is expanding rapidly, with Polaris Research estimating it will reach $27.17 billion by 2032. According to GitHub's latest developer survey, most respondents have integrated AI tools into their work. Over 1.8 million individuals and about 50,000 businesses are paying for GitHub Copilot. Read more!

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How this company (accidentally) f*cked us all

Tipping has shifted from a simple thank-you to a source of societal pressure. With digital tipping and user-friendly interfaces pushing it further, spending on tips has increased by 11%. This video delves into the changes in U.S. tipping culture, why it seems overwhelming, and how Square helped reshape payments. Don’t forget to subscribe!