Instagram slams the door on teens, Snap shows off new specs, and the weed-killing robot on the rise

Tech, Climate Change, and Funding Highlights - September 18, 2024 This briefing covers key takeaways from the "StrictlyVC" newsletter from September 18, 2024, focusing on tech industry news, climate change concerns, and notable funding rounds. Tech Industry Crackdown and Innovation: California Governor Gavin Newsom signed new laws holding social media companies accountable for limiting the spread of election-related deepfakes. Instagram is implementing stricter age verification and cracking down on underage users by eliminating workarounds for fake birthdates. Snap launched new AR glasses, prompting The Atlantic to declare smartphones "so over," indicating a potential shift in personal technology. Climate Change Concerns: Former Vice President Al Gore expressed growing frustration over the lack of progress on the climate crisis, comparing corporate and political promises to “New Year’s Resolutions.” Gore, in an interview with StrictlyVC, emphasized that the world possesses the tools to address climate change, but financial and political will remain significant roadblocks. Funding Highlights: Flink, a grocery delivery startup, secures $115 million in equity at a near $1 billion valuation, highlighting investor confidence in the on-demand delivery sector. Hotel Engine, a platform for managing corporate hotel bookings, raises $140 million Series C at a $2.1 billion valuation, signifying continued growth in business travel solutions. AI-focused startups attract significant investments, including Intezer ($33 million Series C) for cybersecurity and Wealth.com ($30 million Series A) for AI-powered estate planning. Other Notable Developments: John Deere developed an AI-powered weed-killing robot, potentially disrupting the $37 billion herbicide market, as reported by Bloomberg. Neuralink, Elon Musk's neurotechnology company, received FDA "breakthrough device" designation for an experimental implant aiming to restore vision, although TechCrunch cautions against premature claims. Former President Donald Trump announced a new cryptocurrency venture, World Liberty Financial, with his son Barron positioned as the “DeFi visionary." Key Takeaway: The newsletter highlights a dynamic tech landscape grappling with issues like election integrity, the rise of AR, and the urgent need for climate action. Significant funding rounds reflect investor confidence in startups tackling diverse challenges, from grocery delivery to AI-driven solutions. However, concerns remain regarding the slow pace of climate change mitigation and the potential impact of emerging technologies like AI and cryptocurrency.