AI's busy week, and why the heck are so many VCs leaving their firms?

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 17 May 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, Mary Ann, Becca and Haje dug into three funding deals, proving that bigger is not always better (or more interesting). Becca wanted to talk about Spoor, an Oslo, Norway-based startup using AI to help wind farms mitigate its impact on birds (how cool is that?) while Haje wanted to discuss how fintech Layer is looking to take on QuickBooks in the SMB accounting space. Mary Ann, meanwhile, was excited to look into one Kentucky-based startup’s decision to raise $27.5 million in venture capital after being bootstrapped for six years and achieving profitability. We then moved on to AI-land, and all the fascinating new features revealed by OpenAI and Google this past week. And of course, we had to riff on what all of that means for startups. Last but not least, the trio examined the trend of venture capital investors leaving their firms to do other things – including starting their own new firms, or going back to old ones, in some cases. We're still wondering what could be behind all the moves, but it doesn't look like the trend is not going anywhere anytime soon. That’s it for this week but never fear, we’ll be back bright and early Monday morning with your tech and startup news, along with another round of Pitch Deck Teardown. Talk soon!

Transcript

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0:00.0	Hello and welcome back to Equity Tech Crunch's flagship podcast about the business of
0:15.9	startups today is May 17th 2024 I'm Marianne Asavado and joining me today is
0:21.8	TC reporter Aya Camps.
0:24.0	Hiya, how's it going? How's your week been?
0:26.8	You know what?
0:27.8	My week has been nuts.
0:28.4	I woke up to Elon Musk tweeting out a video I created for Tech Crunch at Google I.
0:32.4	And 36 million views later, my... out of video are created for Tech Ranch at Google I.
0:32.6	And 36 million views later.
0:34.6	My mentions are interesting, question mark.
0:38.8	But it's been really good, and it's been a good high energy week.
0:42.0	36 million views, seriously?
0:44.6	Yeah, kind of nuts, huh?
0:46.2	That's crazy, that's crazy, wow.
0:48.5	We're gonna talk more about that later, though.
0:50.8	Also joining us today is Senior TechCunch reporter on the Venture Beat and
0:54.1	co-host of our sister podcast found Becca Scutak. Becca, how's it going for you?
0:59.3	Oh, you know, hanging in there but happy to be here. How are you, Marian? I am the same and happy that you both are here as well.
1:07.4	Before we get to the show rundown, want to ask our listeners, please don't forget to rate and review equity on Apple Podcast, Spotify or whatever your preferred
1:15.9	pod streamer is. We really appreciate it. Now, today we've got a packed show. I can't wait to get into all of it first of all deals of the week we're talking
1:25.0	about layers spore and pay h oa then we're going to look at aye is very busy busy week
1:31.9	and discuss why VCs are still playing musical chairs. So,
	...

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