- The Startup Club
- Posts
- 🕶️ Your data, their goldmine: how social giants cash in on privacy
🕶️ Your data, their goldmine: how social giants cash in on privacy
Climate Week has kicked off in NYC with 400 events spotlighting sustainability and innovation 🌱
Meanwhile, the FTC dropped a bombshell report revealing how platforms like Meta, YouTube, and TikTok collect and monetize user data, raising serious privacy concerns 🔒
In other tech news, Google is stepping up to close the "AI divide" with a $120M fund 🤖💡
And for those craving a lifestyle shake-up, Adam Neumann has launched his first co-living community—this time, in Saudi Arabia 🏙️
Keep reading for more 👇🏽
✦
Six bullets of updates
🎨 Jony Ive collaborated with OpenAI and Sam Altman to create a new AI device startup that blends design with cutting-edge tech.
♻️ Happening now! Climate Week NYC kicks off discussions on climate action, featuring over 400 events focused on sustainability and innovation.
💬 X reverts to removing anti-disinformation measures in Brazil amidst backlash over misinformation.
🛒 Cloudflare's new marketplace will let websites charge AI bots for scraping and monetizing their data access.
⚖️ Some startups adopt fair-source licensing, aiming to balance open and proprietary software while avoiding OSS pitfalls.
🇸🇦 Adam Neumann’s startup Flow launches its first co-living community in Saudi Arabia, expanding globally.
✦
Social media giants under scrutiny for data monetization
The FTC's recent 129-page report reveals that major social media and streaming platforms, such as Meta, YouTube, and TikTok, extensively collect and monetize user data, raising significant privacy concerns. These companies generate billions from targeted ads by harvesting personal information, often bought from third-party brokers.
For example. Meta, which owns Facebook, Instagram, and WhatsApp, reported that 98% of its $39.07 billion revenue in the second quarter came from ads on Facebook and Instagram. The FTC report highlights that users often struggle to grasp how their data is collected and used for ad targeting, with many unaware of the processes involved.
The FTC urges transparency and more robust data protection measures, suggesting Congress enact comprehensive privacy laws. Read more!
✦
Startup Events and Deadlines
Tomorrow! Crash Course in Financial Modeling | September 25 | Webinar
Startups and Business Networking Event NYC | September 25 | Meetup
Startups & Investors Networking NY | September 25 | Meetup
Antler Amsterdam | September 30 | Amsterdam
Antler US | October 1 | USA
From Pitch Deck to Funding | October 2 | Webinar
StartX (Stanford-StartX Fund) | October 10 | USA
✦
Introducing Roku Ads Manager: CTV Ads Made Simple
We have entered a new era of TV advertising where the barriers to entry are lower than ever, and Roku Ads Manager is leading the charge. Growth marketers now have access to Roku’s audience reach in the US. with a self-service ad platform that’s built for performance. Roku powers 47% of all TV streaming time* in the US, so your brand can run ads alongside premium content and meet your audience where they’re already engaged. *Comscore CTV Report, 2024
✦
These companies just raised money
🕛 Twelve, a Berkeley, CA-based carbon transformation company, raises $645M in funding.
🌿 Serán Bioscience announces a $200M strategic growth transaction and plans to open a new commercial facility.
🏨 Corporate travel specialist Hotel Engine has landed $140M in a Series C growth investment.
🖼️ Grok’s image generator, Black Forest Labs, is raising $100M at a $1B valuation.
🚗 BMW-backed DeepDrive raises €30M to industrialize ultra-efficient EV motor, promising to boost EV range to over 800km.
💸 FTV debuted with a €20M fund to support at least 50 high-tech startups in the proof-of-concept phase.
✦
Google ignites AI education boom with $120M global fund
Google CEO Sundar Pichai has announced a $120M fund to bolster global AI education, underscoring Google's commitment to shaping the future of AI talent worldwide. This initiative is poised to democratize access to AI knowledge, ensuring that burgeoning tech hubs around the globe aren't left in the dust.
During his intervention at the UN Summit of the Future Pichai added that he wants to avoid a global “AI divide”.
This fund could mean a more skilled workforce and innovative partnerships for startups. Considering Google's deep pockets and AI prowess, this investment will likely accelerate the rapid pace of AI advancements. Read Pichai’s intervention in the UN Summit of the Future.
✦
The 32,481% Boom: First Disruption to $martphones in 15 Years
Mode saw 32,481% revenue growth from 2019 to 2022, ranking them the #1 overall software company, on this year's Deloitte 500 fastest-growing companies list. Mode is on a mission to disrupt the entire industry with their “EarnPhone”, a budget smartphone that’s helped consumers earn and save $325M for activities like listening to music, playing games, and… even charging their devices?!
Mode has over $60M in revenue - this is your chance to invest in a $1T+ market opportunity!
This is a paid advertisement for Mode Mobile Reg A offering. Please read the offering statement at https://invest.modemobile.com/.
✦
Investor Data Room ChecklistAn investor data room is a storage space, digital or physical, where companies store information relevant to due diligence. We've compiled a FREE Template/Checklist of all the items your data room should include and resources and tools for obtaining them. |
✦
From pitch deck to funding: a crash course
Join Caya, CEO of Slidebean, for an exclusive online webinar on crafting a powerful pitch deck. Master key elements, develop compelling narratives, and gain insights from Caya's experience. Learn to avoid common pitfalls and impress investors to secure funding for your startup. Don’t forget to subscribe!
✦
How did we do? |