So, what happened this week in the Tech & Startup world? 🌍
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The Grapevine Newsflash 🔥
9 tech & startup stories in 151 super short seconds.
🏦 Ken Griffin Discusses ChatGP3! The CEO of Citadel, one of Wall Streets most successful Hedge Funds has done an awesome interview discussing ChatGP3, Crime and the FED. This is well worth a watch.
🎮 End of the Metaverse? Facebook has lost a cumulative $24bn on Metaverse projects between 2021-2022, but now Zuck is taking a U-turn. Like every major enterprise, he’s pivoting to AI. He recently announced a “top-level” team to focus on the topic and “turbocharge” their work in the area.
🛒 Netflix Merch? The streaming giant is hiring people to help them create and sell ‘merch’ based on content on its platform. This is a really cool way to monetise their content beyond streaming. Check out the roles here.
👛 Tweed Raises $4m. Check out this Web3 startup here that’s building a white-label cryptocurrency wallet API. Why? It’ll allow enterprises to generate wallets for users on the fly so they can buy, hold and send crypto.
📈 Another NFT Bull Market? NFT Volumes have picked up pretty significantly in Feb. Why? It’s probably because of the success of the Blur marketplace. Check out these volumes here.
💸 Klarna Posts $1bn Losses. The Swedish fintech has posted their biggest loss ever but stated they’ve made ‘clear progress’ to return to profitability. Read the article here or watch this 60 minute video on the Klarna founder and his story here
🏃 Bank Run Silicon Valley Bank, a tech-focused lender, has seen their stock drop more than 60% in a single day after announcing a significant decline in deposits. This is a pivotal moment for tech as well as broader banking - with other large U.S. banks seeing contagion into their market values. A big week is ahead of us. In worse news, crypto bank Silvergate Capital has announced it’ll wind down.
🐦 Peaking too Early Elon has apologised after rowing with a Twitter employee. Halli Thorleifsson had tweeted asking whether he was fired or not. Musk decided to dig in and ridicule Halli and say he’s “the worst” before hours later apologising (clearly post legal advice). There’s more to it the saga.
💀 Cheating Death! Sam Altman, the CEO of OpenAI, has invested $180m into a company investigating reversing aging and extending human life by 10 years. This is fascinating. Have a read here.
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Nick & Louis