🕶️ Silicon Valley hits D.C

OpenAI rolls out a surprise $200/month subscription

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Lucila Sarquis & Paula Echeverria
December 10, 2024

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2024 is giving us a bit of everything: IPOs are barely making a ripple, with only a few U.S. unicorns going public and biotech failing to hit those high marks we’re used to.

Meanwhile, a crew of Silicon Valley insiders is making headlines by advising Trump’s transition team – because why not? 😲

Plus, DeepHealth’s AI-powered mammograms are proving to be a game-changer, boosting breast cancer detection by 21%.

So, what’s next? Keep reading, we’ve got the scoop.

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Six bullets of updates

  1. 💻 OpenAI rolls out a surprise $200/month subscription tier for ChatGPT power users, promising cutting-edge features.

  2. 🎥 Could Connyct be the next TikTok for college students? Early access expands as a potential U.S. TikTok ban looms.

  3. 🌍 As Y Combinator scales back in Africa, local accelerators like Accelerate Africa step up, bridging a 65% funding gap.

  4. 🔒 Artivion hit by a cyberattack causing disruptions, but no major financial impact despite $95.8M in Q3 revenue.

  5. 🩺 AI-powered mammograms by DeepHealth improve breast cancer detection rates by 21%, though more trials are needed.

  6. 🎙️ WaveForms AI secures $40M to develop emotionally intelligent voice tech, steering clear of the "Her" dystopia.

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Unicorns on a diet: 2024’s slim pickings for startup IPOs

2024 has been a muted year for tech startup IPOs, with only a few U.S. tech unicorns entering the market and biotech offerings falling below historical highs. Post-IPO performance has been largely unremarkable, with some standout successes, notable underperformers, and a majority trading near their offer prices. Reddit emerged as the top tech performer, with shares up 332% since its March debut, followed by Astera Labs and others like Life360 and Rubrik. Conversely, companies like Webtoon Entertainment, Gauzy, and Ibotta have seen significant declines.

Biotech IPOs showcased a similar mix of highs and lows. CG Oncology led the pack, with shares up 90% following promising clinical trial results, while Ceribell and ArriVent BioPharma also performed well. However, companies like Metagenomi and FibroBiologics have struggled, shedding substantial value since their IPOs. Although 56% of IPOs are trading above their offer prices, their aggregate return of 8% pales in comparison to the Nasdaq Composite Index's 35% gain for the year, underscoring the underwhelming performance of 2024's IPO class. See more.

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Startup Events and Deadlines

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Learn AI in 5 Minutes a Day

AI Tool Report is one of the fastest-growing and most respected newsletters in the world, with over 550,000 readers from companies like OpenAI, Nvidia, Meta, Microsoft, and more.

Our research team spends hundreds of hours a week summarizing the latest news, and finding you the best opportunities to save time and earn more using AI.

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These companies just raised money

  1. 💼 Lead Edge Capital shifts from VC to buyouts, managing $5B from 700+ investors and betting on overlooked companies.

  2. 🧪 Dimension Capital raises a $500M fund, investing at the tech-life sciences crossroads and exceeding their $400M target.

  3. 🚛 Nikola offers $100M in common stock sale amid debt challenges and its founder's fraud saga, aiming to boost cash flow.

  4. 🎙️ Riverside raises $30M Series C to expand its podcast platform, with creators recording over 100M minutes in 2024.

  5. 🌐 Zimi raises $2M seed to streamline U.S. cross-border sales, leveraging AI and local fulfillment centers.

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Musk’s crew shapes Trump’s team

A group of Silicon Valley heavyweights, including a "dozen Musk allies," has stepped in as unofficial advisers to Donald Trump’s transition team, according to The New York Times. Notable figures like Jared Birchall, head of Elon Musk’s family office, and tech leaders such as Marc Andreessen, Shaun Maguire, Trae Stephens, and Shyam Sankar are reportedly assisting in vetting candidates for roles across the State Department, Pentagon, and intelligence community. Entrepreneurs Mark Pincus and David Marcus have also participated in the process.

This tech-centric involvement highlights the unusual influence of Musk’s circle in shaping Trump’s transition efforts, bridging the tech world and federal policymaking.

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This Smart Home Company Hit $10 Million in Revenue—and It’s Just the Beginning

No, it’s not Ring or Nest—it’s RYSE, the company redefining smart home innovation, and you can invest for just $1.75 per share.

RYSE’s patented SmartShades are transforming how people control their window shades—offering seamless automation without costly replacements. With 10 fully granted patents and a pivotal Amazon court judgment safeguarding their technology, RYSE has established itself as a market leader in an industry projected to grow 23% annually.

This year, RYSE surpassed $10 million in total revenue, expanded to 127 Best Buy locations, and experienced explosive 200% month-over-month growth. With partnerships in progress with major retailers like Lowe’s and Home Depot, they’re set for even bigger milestones, including international expansion and new product launches.

This is your last chance to invest at the current share price before their next stage of growth drives even greater demand.

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A Cap Table Template

A Cap Table that lets you estimate how much your equity can be diluted from different rounds of funding. It supports up to 6 different funding rounds, raised as Convertible Notes, SAFEs or Priced/Equity Rounds.

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The Ultimate Pitch Deck Guide - 2024

In this video, we dissect each slide of a startup pitch deck, offering practical advice on how to nail each one. From the opening slide to financial projections, we guide you through crafting a compelling narrative that captures investors' attention. Whether you're a newcomer or seasoned entrepreneur, our step-by-step breakdown equips you with the skills to create a standout pitch deck and secure the funding your startup deserves. Subscribe for more! 🕶️ 

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