OpenAI nixes another safety team, Musk burns up the phone lines with Putin, and an NSFW donut?

StrictlyVC Newsletter Briefing - October 25, 2024 Main Themes: AI Legal Battles: Media companies are increasingly pushing back against AI companies like Perplexity, alleging copyright infringement and raising questions about fair use of publicly reported facts. Data Privacy Concerns: LinkedIn faces a hefty fine for improper ad targeting, highlighting the ongoing struggle with data privacy and regulations. Funding Landscape: The newsletter details significant funding rounds across diverse sectors like oncology, biotech, fintech, and AI-powered robotics, indicating continued investor interest in innovative technologies. Key Highlights & Facts: OpenAI disbands another safety team: This move, following the departure of AGI readiness executive Miles Brundage, raises concerns about the preparedness of leading AI labs for the potential risks of advanced AI. Brundage stated, "Neither OpenAI nor any other frontier lab is ready [for AGI], and the world is also not ready." Massive Data Breach: UnitedHealth discloses a ransomware attack on its subsidiary Change Healthcare, affecting over 100 million Americans, making it one of the largest data breaches to date. Perplexity vs. Media Companies: Perplexity faces a lawsuit from News Corp for alleged copyright infringement, echoing similar accusations from other media giants. Perplexity argues that media companies are attempting to control access to public information. They state, "They prefer to live in a world where publicly reported facts are owned by corporations, and no one can do anything with those publicly reported facts without paying a toll." Elon Musk's Controversial Communications: The WSJ reports Musk has been in regular contact with Vladimir Putin, raising concerns among US government officials about his involvement in geopolitical matters. New Funds and Exits: General Catalyst launches a new $4.5 billion fund, while Chris Koh of Coupang secures $100 million for his new venture firm. On the other hand, Lillium, an electric aircraft startup, shuts down. Notable Funding Rounds: Alpha-9 Oncology: $175M Series C for radioactive cancer drugs. Be Biopharma: $82M for B cell-based therapies. Finix: $75M Series C for payment processing platform. Nimble: $106M Series C at $1B valuation for e-commerce fulfillment robots. Key Takeaways: The tech industry is grappling with significant ethical and legal challenges, particularly around AI, data privacy, and the use of publicly available information. Funding remains robust for startups tackling important problems across various sectors, showing investor confidence in innovation despite economic uncertainties. Elon Musk's actions continue to draw scrutiny, particularly his communication with foreign leaders and the controversies surrounding his ventures.