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Joyful Friday! We don’t learn about you, however we’re each prepared for some R&R after ploughing by a wall of deep-cringe texts from the Musk/Twitter trial. We hope you get some, too, this weekend.
This afternoon, Tesla is working its second AI day. Final yr’s was a hoot, and we now have some predictions for what’s coming down the pipe at present, too. — Christine and Haje
When insurtech firm Metromile went public through a particular objective acquisition firm (SPAC) in February final yr, it was valued at over $1 billion. A yr and 5 months later, Lemonade acquired the corporate for lower than $145 million. And but, issues aren’t as bleak as they could appear, Anna studies.
This yr, 40% of the world’s inhabitants will play video games, with complete spending nearing $200 billion. The purveyors of web3 desire a slice of this gargantuan market, Rita studies. She writes that criticisms of the primary technology of crypto video games have been properly documented, so the query for builders now could be what decentralized video games ought to appear like.
Let’s do a couple of extra, lets? Go on, then:
Picture Credit: Warchi (opens in a brand new window) / Getty Photos
Some providers are in such demand, it could possibly insulate their suppliers in opposition to the vagaries of the market. Throughout an financial downturn, customers don’t reduce on pet meals or bathroom paper. Equally, everybody wants some type of insurance coverage.
Between 2016 and 2022, insurtech startups obtained round $43 billion in funding, and regardless of the downturn, many of the traders that reporter Anna Heim not too long ago surveyed are nonetheless constructive concerning the sector’s prospects:
“We’re merely seeing a actuality examine occur,” mentioned Wechsler. “Sadly, there are numerous corporations that ought to not have raised as a lot as they did, or maybe don’t have sustainable enterprise fashions. These corporations will battle to outlive.”
Three extra from the TC+ workforce:
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SoftBank has been performing some readjusting to firm valuations these days, however the newest adjusting is going on with its personal firm. Kate studies that SoftBank’s Imaginative and prescient Fund is reportedly shedding 30% of its workforce even because it considers a 3rd fund.
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