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(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…

(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…

(ImpactAlpha) In the realm of AI discourse, much attention is directed towards fostering responsible development of the technology itself (e.g. Is it free from bias? Transparent? Explainable?).  Whether or not AI is developed responsibly, it functions as an accelerant; it can be either a clean or dirty one.  Read more here.

(WSJ) Spending $1.2 billion with diverse businesses. Doubling Black and Latino leadership. Increasing recruitment from historically Black colleges and universities. Those diversity goals were highlighted in companies’ annual reports in 2022. A year later, those references were gone. Read more here.

(Verge) Meta’s AI assistant is being put everywhere across Instagram, WhatsApp, and Facebook. Meanwhile, the company’s next major AI model, Llama 3, has arrived. Read more here.

(The Information) Fame can be a double-edged sword—a lesson some artificial intelligence startups are learning the hard way. Read more here.

(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.

(Wired) Any dreams of a sweeping AI bill out of Congress are basically a hallucination. Read more here.

(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…

(NYT) Artificial intelligence tools can replace much of Wall Street’s entry-level white-collar work, raising tough questions about the future of finance. Read more here.