Cool neighborhoods, desk divers, and a companion chatbot that remembers the colleagues you'd rather avoid

StrictlyVC Briefing Doc - September 27, 2024 Main Themes: AI Advancements: This issue highlights the rapid progress in AI, particularly in niche applications like companionship (Nomi AI) and data validation (DeepOpinion), alongside concerns about accuracy and potential misuse in social media algorithms. Funding Landscape: Despite ongoing economic uncertainties, funding remains robust, especially in sectors like clean energy (Marvel Fusion, Zap Energy), healthcare (Zing Health), and AI-powered solutions (Crisp, Harmonic). Ethical Concerns: Ethical considerations in AI development and deployment are paramount, as highlighted by the scrutiny of Meta's research on social media algorithms and the cautious approach taken by Nomi AI in developing its companion chatbot. Important Ideas/Facts: Niche AI Companions: Nomi AI is developing AI companions that prioritize memory and emotional intelligence, remembering user preferences and past interactions to provide more personalized and nuanced responses. “For us, it’s like those same principles [as OpenAI], but much more for what our users actually care about, which is on the memory and EQ side of things,” says Nomi AI CEO Alex Cardinell. Clean Energy Funding Surge: Companies developing clean energy solutions are attracting significant funding, including Marvel Fusion ($62.8M Series B) focusing on laser-powered fusion and Zap Energy ($130M) advancing plasma-based fusion technology. Scrutiny on Social Media Algorithms: An editorial in Science questions Meta's research downplaying the role of social media algorithms in political polarization, sparking concerns about the ethical implications of AI in shaping online discourse. Massive Funding Rounds: Several companies closed substantial funding rounds, including Crisp ($72M Series B) for its demand forecasting platform, Distribution ($80M Series C) for its B2B ground transportation marketplace, and Harmonic ($75M Series A) for its AI accuracy enhancement technology. Layoffs Continue: Despite robust funding in some sectors, layoffs persist, with Drata, a regulatory compliance platform, laying off 9% of its workforce. Quotes: “[Nomi's approach is] much more like chain of introspection, or chain of memory.” - Alex Cardinell, CEO, Nomi AI. "When drivers are operating with FSD engaged, driving with their hands in their laps or away from the steering wheel is incredibly dangerous." - AMCI, on Tesla's Full Self-Driving Technology. Other Key Takeaways: Starlink is projected to surpass 4 million subscribers and generate $6.6 billion in revenue this year. A Delaware judge criticizes the proposed Bolt deal to reinstate Ryan Breslow as CEO, calling it a "prisoner's dilemma" for investors. Peter Thiel has sold $1 billion worth of Palantir stock in 2024. Further Research: The full Science editorial and Meta's research paper on social media algorithms and political polarization warrant further investigation. Nomi AI's approach to AI companionship and its focus on "chain of introspection" deserve deeper analysis. Tracking the development and impact of clean energy technologies receiving significant funding is crucial.