TechCrunch Newsletter [TechCrunch AM logo]( By [Alex Wilhelm]( Monday, February 05, 2024 Good morning, and welcome to TechCrunch AM for February 5, 2024. Today we have several venture capital interviews, notes on AI in China, more testing of the Apple Vision Pro, and the price of Russian sanctions on tech companiesâ exit values. Letâs get caught up from the weekend!
â [Alex](twitter.com/alex) [StrictlyVC Comes To LA This February]( Sponsored by [TechCrunch]( [StrictlyVC brings impactful VC insights and deal flow to top investors and entrepreneurs. Join us in LA on Feb. 29 to hear from Tekedra Mawakana (Waymo), Trae Stephens (Founders Fund), & Meredith Whittaker (Signal) for an unforgettable evening.]( [Register Now]( TechCrunch Top 3 - [Kleiner is drowning in AI pitches](: In a fascinating chat with Kleiner Perkinsâ Mamoon Hamid and Ilya Fushman, TechCrunch learned that more than four in five (80%) of the pitches that the firm sees today include AI. Hamid likened the trend to how important the Internet was for tech companies in the late ’90s: âIf you were building a company in 1996 and you didnât mention the internet, youâd be out of your mind.â
- [Chinaâs regulatory climate vs. AI](: While U.S.-based VCs are seeing a wave of AI-related pitches, data indicates similar startups in China arenât seeing as much fundraising traction. AI startups in the country raised 70% less in 2023 than a year previously, per CBInsights data. TechCrunchâs Rita Liao cites cross-border tensions and higher regulatory burdens in the country as some of the hurdles facing startups.
- [How low can Paytm go](? Embattled Indian fintech giant Paytm continued to lose value today after the Reserve Bank of Indiaâs regulatory action against Paytmâs Payments Bank. The impact to operations at the company appears more severe than originally anticipated, and the former startup darlingâs stock is bleeding value. Itâs now down to a fraction of its worth when it IPOâd. [TechCrunch Top 3 image] Image Credits: Slava Blazer / TechCrunch Don't miss these [What to make of the Apple Vision Pro](? Now that Appleâs new VR headset is finally in the market, exactly what is it good for? TechCrunchâs Brian Heater writes that in âthe headsetâs current iteration, games are not the primary driver. [Instead, the] company instead presented a future wherein the Vision Pro is, in essence, your next Mac.â That makes sense, given that Apple is hardly a gaming juggernaut apart from mobile. [AI is accelerating product development](: But not in the way you are thinking. Instead, AI technology itself is advancing so quickly that startups are now iterating faster than ever to stay ahead. After noting that SaaS companies could launch some features and wait a bit to release more, Viviana Faga, partner at venture firm Felicis, says that âAI companies launch new features on a daily basis, and those are always the best-performing features.â [Do venture and fast fashion mix](? Rebeccal Szkutak asks if VCs and fast fashion make for a good pair, noting the ample labor and copyright issues rampant in the sector. She also highlights environmental concerns and the rising trend of ethical consumption. While the business model does make a lot of money in the short-term, she questions whether returns should be the only barometer of a successful investment. [Another crack at food waste](: Tackling food waste is a perennial problem. Iâve been hearing about the issue and potential solutions my entire life. Hereâs one more: ProducePay wants to give fresh produce growers and buyers greater transparency â and flexibility â in the grocery supply chain. The company will have to contend with some competition in its thrust to reduce waste, though, as Ida, Choco, and Divert are all working towards similar ends. [Metaâs fake video policy rapped by Oversight Board](: An external body that reviews Metaâs moderation said the companyâs decision regarding an edited video of President Joe Biden was consistent with the platformâs rules, but also mentioned that the relevant policy was âincoherent.â Questions abound as the U.S. heads into a massive election cycle, which will be the first time the general public has wide and cheap access to AI tools that allow for all sorts of video fakery. These policy questions, either at the company or state level, are far from idle. [Yandex leaves Russia â at a price](: Yandex N.V., the Dutch parent company of the Russian internet company, is selling the last of its stake in its Russia-based business at a massive discount. The $5.2 billion price tag is partially predicated on Russian rules that mandate discounts when selling assets if the seller is from an âunfriendlyâ country. Since Holland is in the EU, well, itâs not on great terms with Russia at the moment. (Note: This rule obviates any EU or North American interest in Russian startups.) [What is this, 2021](? French startup Naboo just raised $8 million, and is currently seeing GMV of around $1.5 million per month. Itâs a relatively simple concept: The company offers a âmarketplace of nice houses that you can browse and book in just a few clicks for your next corporate retreat with your team.â Thatâs great and very remote-work friendly, but creating a way for companies to spend more money feels very 2021. But the fact that Naboo is doing so well implies that thereâs more money out there than we might have thought. Bullish! [Don't miss these image] Image Credits: Cory Green/Yahoo Before you go To ETF or not to ETF: We [asked a bunch of TechCrunch+ subscribers]( whether or not they were going to pile into spot bitcoin ETFs. The responses surprised us! [Before you go image] Image Credits: Samuil Levich / Getty Images [Read more stories on TechCrunch.com]( Newest Jobs from Crunchboard - [Head of Marketing at 3Forge LLC (New York, NY, USA)](
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