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- Startup Bankruptcy Rate Skyrockets 7x as 2021-2022 Boom Funds Deplete
Startup Bankruptcy Rate Skyrockets 7x as 2021-2022 Boom Funds Deplete
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Kristoffer Lindström
August 20, 2024
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TECH BRIEF
In Q1 2024, 254 of Carta's startup clients filed for bankruptcy due to funding dearth from the 2021-2022 investment boom, a jump of over 7 times from 2019. This bankruptcy rate spike threatens jobs and risks wider economic repercussions. Many of the bankrupt startups, such as Tally and WeWork, had received substantial backing from renowned VC firms. This crisis is attributed to past over-investment, inflated valuations, and recent interest rate hikes.
Unitree is readying its G1 humanoid robot for mass production at $16,000, offering a significant upgrade from its predecessor, the H1. The G1 has 23 degrees of freedom in its body, can walk at over 4.4 mph, and can handle delicate tasks like flipping food in a pan. Equipped with a Livox Mid-360 LiDAR camera and an Intel RealSense D435 depth camera, it can perceive the world in 3D. However, it needs to learn tasks, such as cooking, through imitation using Unitree’s Robot Unified Large Model (UnifoLM). The robot is primarily intended for robotics research.
If the new court ruling stands, Google's deal to remain as Apple's default search engine could end, sparking talks of Apple developing its own search engine. Despite possessing the resources, Apple lacks the extensive data that Google has. The need to mimic Google's data-gathering practices contradicts Apple's privacy-centric reputation. Additionally, the uncertainty of the search engine's future and the potential costs outweigh the rewards, making the development of an Apple search engine unlikely.
Advanced Micro Devices (AMD) will acquire AI infrastructure provider ZT Systems in a cash and stock deal valued at $4.9B, marking a significant step in AMD's AI strategy. Bringing ZT Systems' expertise in data center systems under AMD's umbrella, the purchase aims to accelerate AMD-powered AI infrastructure deployment for cloud and enterprise customers. The transaction is expected to close in the first half of 2025.
Microsoft will train its AI models using customer data from Copilot, Bing, and MSN to enhance inclusivity and relevance. Provisions will be made for users to opt-out and privacy measures will be adhered to. AI training starts in October, with the opt-out system becoming operative at least 15 days after users are notified.
Fortnite is returning to iOS in the EU, thanks to the EU's Digital Markets Act forcing Apple to accept third-party app marketplaces. The move leads to a transformative shift in the mobile app ecosystem.
Yale researchers used AI to diagnose Marfan syndrome, a genetic disorder, from facial photographs with 98.5% accuracy. The tool will eventually be available online for self-testing.
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Snowflake and Meta Collaborate on AI Optimization, Boosting Efficiency and Accessibility - Snowflake and Meta are collaborating to host the Llama 3.1 collection of large language models (LLMs) on Snowflake Cortex AI. This partnership aims to simplify AI application development at scale, offer efficient real-time, high-throughput inference, and enhance natural language processing applications.
GM Sheds 1,000 Software Jobs Amid Infotainment Challenges - GM is cutting 1,000 jobs in its software and services division, impacting employees on its Detroit tech campus and teams working on vehicle infotainment and OnStar services. This follows recent software issues with the Chevy Blazer EV.
Palo Alto Networks Beats Q2 Expectations with Strong Sales Growth - Cybersecurity firm Palo Alto Networks (PANW) reported Q2 CY2024 results surpassing analysts' expectations, with a 12.1% YoY revenue increase to $2.19 billion, and non-GAAP earnings per share of $1.51.
Apple to Simplify Lineup with Dual-Version AirPods 4 Launch - Apple plans to launch its fourth-generation AirPods offering a basic and a premium version with active noise cancellation. Inclusion of USB-C ports seems likely due to EU regulations.
iOS 18 Beta Unveils Game-Changing Call Search Feature - Apple's iOS 18 Beta boasts a innovative call search feature, simplifying phone history management. Despite being in beta form with potential bugs, the official release is anticipated in Fall.
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