General Catalyst, a16z capture 44% of US VC fundraising in 2024

(Pitchbook) Despite a major LP pullback from venture, an elite cohort of VC firms is still successfully raising huge sums of LP capital. General Catalyst, a giant of Sand Hill Road that has led rounds for companies like Snap, Warby Parker and Deliveroo, is wrapping up a $6 billion VC fund, the Financial Times reported Sunday. Earlier this month, Andreessen…

Read More

Meta sparks tech selloff as AI splurge spooks Wall Street

(Reuters) Shares of Meta Platforms (META.O) sank 13% on Thursday, sparking a selloff in big technology stocks after the social media firm signaled its costly bet on AI could take years to pay off. The drop was set to erase nearly $170 billion from the company’s market value and triggered a fall of 3% to 4.2% in…

Read More

Chatbots’ flaws aren’t stopping tech giants from putting them everywhere

(Washington Post) When tech entrepreneur Vivek Wadhwa opened WhatsApp on Friday to talk with colleagues in India, the app popped up a message suggesting he try out its new AI chatbot, Meta AI. Wadhwa, a former Washington Post opinion contributor whose latest venture is a diagnostics start-up called Vionix Biosciences, thought he’d give it a spin.  Read more here.

Read More

AI Governance Appears on Corporate Radar

(Harvard Law School Forum) Only about 15% of companies in the S&P 500 provide some disclosure in proxy statements about board oversight of AI. Disclosure of board oversight of AI and directors’ AI expertise is primarily found in the information technology sector, with 38% of companies providing some level of board oversight disclosure… Read more…

Read More