Tesla hits the $1 trillion mark, Ben Horowitz cozies up to Las Vegas’ finest, and please do not be a Burning Mansplainer

StrictlyVC Newsletter Briefing - November 8, 2024 Main Themes: Tech Industry News: This newsletter provides updates on major players in the tech industry, including Tesla reaching a $1 trillion market cap, OpenAI losing another lead safety researcher, and a bidding war erupting over AI coding tool Cursor. Venture Capital Activity: The newsletter highlights significant funding rounds, including Upwind's potential $100 million Series B and Conflixis securing $4.2 million in seed funding. Ben Horowitz and Law Enforcement: The newsletter features an investigative piece exploring the close relationship between venture capitalist Ben Horowitz and the Las Vegas Police Department, including Horowitz's funding of Skydio drones for the department. Other Notable Events: Coverage includes news about layoffs at Monarch Tractor and Opendoor, Detroit's adoption of crypto for city fees, and the potential implications of a Trump presidency on the TikTok ban. Key Facts & Ideas: Tesla's trillion-dollar valuation is fueled by investor confidence in a Trump presidency benefiting the company due to Trump's ties with Elon Musk. (Source: TechCrunch) Ben Horowitz, through his relationship with the Las Vegas Police Department, has been directly involved in the department's acquisition of Skydio drones, raising questions about the influence of VC funding on law enforcement practices. "Whatever you want Ben,” Gennaro replied, according to emails seen by TechCrunch. (Source: StrictlyVC) Startups continue to attract significant funding, with Upwind potentially reaching a near-billion dollar valuation and Conflixis gaining traction in the healthcare compliance space. Layoffs continue to impact the tech industry, with both Monarch Tractor and Opendoor downsizing their workforce. Detroit's decision to accept crypto for city fees signals growing mainstream adoption of digital currencies. The return of a Trump presidency raises questions about the future of the US government's ban on TikTok. Quotes: On Ben Horowitz and the Las Vegas Police Department: "In a blog post detailing the partnership, Skydio praised the LVMPD’s choice to adopt its X10 drones as being “driven by the ambitious vision of making Las Vegas the safest community in America.” They did not mention Horowitz, despite the fact that the VC’s relationship with the LVMPD runs deeper than just funding the Skydio drones." (Source: StrictlyVC) On Ashton Kutcher's venture capital success: "The truth is Ashton is a nerd who became an actor." (Source: StrictlyVC, quoting an acquaintance of Kutcher) Overall, this newsletter provides a snapshot of the current landscape of the tech industry, highlighting major financial movements, VC activities, and the intersection of technology and law enforcement. It also offers insights into the impact of political changes on tech policy and the growing adoption of cryptocurrencies.