Patchwork politics: will the U.S. ever get AI rules right?

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Paula Echeverria, Arturo Pardo & Lucila Sarquis
November 05, 2024

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🇺🇸🇺🇸 Make your voice heard today—every vote counts! 🇺🇸🇺🇸

National-interest startups are eyeing big potential in government contracts, as the U.S. grapples with AI regulation. With 700+ state bills in motion, the goal is clear: a unified federal framework.

OpenAI just recruited Gabor Cselle, the mastermind behind Twitter rival Pebble, for a top-secret project 👀 And speaking of co-founders, CoffeeSpace is launching a Hinge-inspired app to match co-founders!

Plus, don’t miss our video feature at the end: The FATAL Flaw Pushing GoPro to Bankruptcy 📹

Enjoy! 🕶️

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Six bullets of updates

  1.  📃 U.S. struggles with AI regulation, as 700+ state bills aim to unify the patchwork for stronger federal rules.

  2. 📊 Slidebean's AI Pitch Deck Reviewer launches in beta, leveraging insights from $350M in raised capital. Personalized feedback in minutes!

  3. 🧳 Family offices fund 27% of startup deals and align with the sector for strategic value and patient investing.

  4. 🤏 Despite the hype, ChatGPT Search struggles with short queries, keeping Google safe—queries average 2-3 words.

  5. 📈 Raising the highest valuation isn't always best VCs advise finding realistic growth targets to avoid pitfalls. 

  6. 🫘 CoffeeSpace launches a Hinge-inspired app to match co-founders, with over 270,000 swipes since March.

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National-interest startups: go for contracts

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It’s well-known that the government market is complex. In that context, national-interest startups see strong potential in government contracts, with sectors like data analysis, cybersecurity, and satellite tech finding reliable funding sources in agencies such as the Department of Defense (DOD). Rebecca Gevalt of Dcode Capital recommends prioritizing contracts over grants to build sustained revenue streams, primarily as the DOD seeks partnerships for AI, quantum computing, and space projects.

To navigate this landscape, startups should consider partnerships that can guide them from early R&D funding to stable contracts and recognize opportunities beyond defense, like data management and cybersecurity solutions. Additionally, focusing on non-political government relationships can help minimize the impact of administration changes, while public data can provide insights into potential agency needs and competitors’ contracts. Read more! 

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Startup Events and Deadlines

  1. AcceleratorCON | November 8 | New York City

  2. Financial Modeling Bootcamp | November 11-15 | LIVE 1-week bootcamp

  3. Techstars Columbus | November 20 | Columbus

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

  5. Techstars Anywhere Accelerator | November 20 | Remote

  6. Techstars San Francisco | November 20 | San Francisco

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Could this be the biggest disruption to Smartphones in the past 15 years? 📲

💥Heads up! There's a new disruptor in smartphones: Mode Mobile. Mode can turn your phone from a cost into an income source — and investors are watching the launch of the company’s pre-IPO offering.1

🤳Mode saw 32,481% revenue growth from 2019 to 2022, ranking them the #1 overall software company on Deloitte’s most recent fastest-growing companies list. Mode’s flagship product EarnPhone, a budget smartphone, has already helped consumers earn & save $325M+.

🫴 Mode’s Pre-IPO offering1 is live at $0.25/share — 20,000+ shareholders already participated in its previous sold-out offering. There’s still time to get in on Mode’s pre-IPO raise and even lock in 100% bonus shares2 … but only until their current raise closes for good.

1 Mode Mobile currently has no formal plans for an IPO.
2 A minimum investment of $1,950 is required to receive bonus shares. 100% bonus shares are offered on investments of $9,950+.
3 Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns.
DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.

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These companies just raised money

  1. 📊 Crusoe Energy secures $500M in infraAI funding, valued at $3 billion, to fund a Texas data center project.

  2. 🧑‍🚀 Electric aerospace company BETA Technologies has secured $318M to accelerate growth and commercialization efforts.

  3. ⚔️ Armis, a leading cyber exposure management and security firm, announced the closure of a substantial $200M Series D funding round.

  4. 💳 Melio, an accounts payable and receivable platform for small and medium businesses, secures $150M in funding led by Fiserv.

  5. 🧠 Investors invested $115M in Axonis amid revived interest in brain drugs for pain, epilepsy, and neurological diseases.

  6. 🔑 DoorLoop, an all-in-one property management software company, received a $100 M Series B funding round led by JMI Equity.

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OpenAI taps Twitter rival’s creator for secret project

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OpenAI has snagged Gabor Cselle, the mastermind behind Twitter rival Pebble, for a hush-hush project. With a record of selling startups to Google and Twitter, Cselle's move signals serious innovation brewing at OpenAI.

Past ventures like reMail and Namo Media underscore his knack for scaling tech. While Anthropic also grabbed headlines by hiring Embark's Alex Rodrigues, it's clear the AI race is on fire. As Cselle dives into generative AI, will he launch the next big thing or just another pebble in the pond? Read more! 

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Slidebean Revenue Data

Built on top of our financial model template, we hope this is a helpful resource to compare against your progress and study how a company manages cash at the early stages.

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The FATAL Flaw Pushing GoPro to Bankruptcy 

Is your GoPro collecting dust? This video dives into why—from GoPro’s early success to its struggles with competition, product missteps, and a changing market. Find out if there’s still a future for GoPro, or if smartphones have already taken over 🕶️ Subscribe!

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