Fusion42 Open Call March 7th, 2024
💡 Here are the highlights
What we covered:
📰 Elon vs OpenAI & Microsoft. What is the real motivation behind this?
📰 GROQ… Language Processing Units (LPU) 🤷🏼♂️ What is it and is it the answer?
📰 Figure AI Humanoid Robotics Series B
📰 Stripe Buyback
⌗ Data insights in startups and SAAS
🦄 Chances of being a Unicorn founder according to your University
Equity Dilution Across Funding Rounds
B2B SaaS Sales Trends. Win Rates, Deal Values and Sales Cycles.
🤿 Deep dive in AI pitch deck writer and review solutions.
🔦 Startup Spotlight.
📰 In the news
📰 Elon vs OpenAI & Microsoft. What is the real motivation behind this
We discussed what the drivers are behind taking this action.. It is a big deal and feels like someone playing catch up and taking some of the limelight but is playing out in a really childish way.
📰 GROQ… Language Processing Units (LPU) 🤷🏼♂️ What is it and is it the answer?
Groq's Language Processing Units (LPUs) are a game-changer for AI, focusing on making language model processing faster and more accessible. Unlike general GPUs, LPUs are designed specifically for the heavy lifting involved in language tasks, potentially lowering costs and opening doors for more innovation in AI. This move towards specialized hardware, as highlighted by AJ and Manny, could mark a significant shift in AI development, making advanced applications more feasible for a wider range of users. In short, LPUs by Groq might just be the leap needed to push AI technology forward, by better aligning hardware capabilities with the specific needs of language processing.
📰 Figure AI Humanoid Robotics Series B
Figure AI raised a whopping $675 million in their Series B funding from an impressive lineup including OpenAI, Microsoft, Amazon, Nvidia, Intel, and notable Chinese entities, signaling their serious dive into humanoid robotics. T
This development could very well be another layer to Elons lawsuit, given that Figure AI's advancements pose direct competition to Tesla's Optimus project.
📰 Stripe Buyback
We discussed Stripe's latest buyback, where for the first time they've gone cash flow positive and were joined by Sequoia Capital in what was dressed up as a liquidity event for the love of employees. But what's really under the hood, an IPO? Suspect not, more that they want a clean cap table to get some strategic investors onboard and expand product-wise and regionally.
📊 Data insights:
Ivy League Advantage? There's a funding bias towards founders from elite universities who have upto an 80% better chance of becoming a unicorn. Yale topping the list.
Seed Stage Surges: Investors are showing increased interest in early-stage startups (pre-seed, seed) compared to later stages. Founder dilution at the early stage is less This could be due to concerns about later-stage companies keeping pace with technological advancements.
B2B SaaS Slump? Data suggests B2B SaaS companies are facing longer sales cycles and declining win rates.
Safe Note Surge: Safe notes, a financing tool, were used in a whopping 85% of funding rounds in late 2023.
Early Bet, Big Payoff? Some investors believe pre-seed funding goes further now, allowing startups to build quickly with AI talent and potentially surpass Series A companies.
🤩 We dig into Founder and Investor solutions powered by AI.
This week we looked at AI Pitch Deck Solutions:
Findings: A Feature Breakdown
Leveraging Big Data? These solutions claim to analyze thousands of successful decks and investor data to provide feedback. massive claims of 20,000 decks, Investor twitter feeds etc.
The Feedback Spectrum: We tested several tools and found the feedback ranged from:
Generic: Offering unoriginal suggestions that didn't address the specific pitch.
Superficial: Focusing solely on grammar, spelling, and formatting, neglecting the core message.
Echo Chamber: Providing feedback that mirrored generic best practices, potentially leading to a homogenous style.
Comparisons: AI vs. Human Expertise
AI solutions are really missing the point, whilst yes there are certain things that need to be said it is understanding the actual business that creates the interest and not just some generic blah that produces another shade of grey.
Originality vs. Conformity: AI might push decks towards a generic template, hindering the chance to stand out from the crowd.
Nuanced Understanding vs. One-Size-Fits-All: Human reviewers can grasp the pitch's unique value proposition and tailor suggestions accordingly.
Validation vs. Insight: AI might create the illusion of a "validated" deck based on past successes, neglecting that the actual need lies in the differences not the conformity.
Conclusion: AI as a Sidekick, Not a Hero
While these AI tools might be useful for basic checks like formatting and consistency, some flow and storytelling, without a solid framework outside of consensus templates there needs to be a huge emphasis on the irreplaceable role of human expertise to do this properly.
First takeaways of what is out there….pretty low grade with lots of hype and noise. Without the AIs ability to understand the business the current solutions are at best a proof reader and NOT a validator unless you are seeking to just be another shade of grey.
Other Stuff We Discussed
The UK's Digital Health Surge
In the UK, there's a noticeable surge in startups focusing on digital health, addressing everything from mental well-being to physical rehabilitation. This trend, is now embracing AI for personalized health solutions. There is an unchecked adoption of AI without considering its practical applications and cost implications. As digital health continues to grow, it'll be interesting to see how these startups navigate the balance between innovation and sustainability.
Ema: Shaping the Future of Work
An exciting development we discussed was the unveiling of Ema, a San Francisco startup that's just emerged from stealth with an impressive $25 million funding. Positioned as a "Universal AI employee," Ema is set to redefine workplace efficiency by automating routine tasks, allowing employees to focus on more strategic activities.
🔦 Startup Spotlight: E-M-A
A New Tool for Event managers:
Intro:
Dubbed E-M-A, Event management assistant, and founded by Thibault Mardinli, this AI assistant is solving a real pain point in the event management industry with Thibault's first-hand industry insights driving its creation.
Solution:
Emma comes with two killer features:
➡️ Voice notes to generate automated debrief email summaries.
➡️ Event specific knowledge base for instant attendee queries, significantly easing the information flow and reducing manual workload.
Impact and Adoption:
Targeting real, gnarly issues in event management, Emma can achieve rapid adoption. It's a mission-driven solution set to change up event logistics and team dynamics for the better.
⭐️ Takeaway:
Emma exemplifies how targeted AI solutions can transform industry-specific challenges into opportunities for innovation, signalling a future where digital assistants become indispensable in professional landscapes, Emma reflects a wider trend towards utilizing AI to enhance operational efficiency in various sectors with its practical, impactful features.
Stay Tuned: We're already preparing for our next session, don't miss out on shaping the future of the Startup ecosystem with AI.
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