Brought to you by:
Top stories today:
- California's AI bill adjusts to disallow lawsuits before catastrophic events
- 28 of 70 new unicorns in 2024 hit $1B valuation after early-stage round
- Google expands AI Overviews to 6 new countries
- Crypto hack value 2x YoY to $1.6B in first 7 months of 2024
- Hyperscaler cloud marketplaces to grow to $85B by 2028
- Harris outspends Trump on Google, Meta Ads by 10x
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. California’s AI bill adjusts to disallow lawsuits before catastrophic events
Before event: CA’s attorney general can still seek injunctive relief even before any catastrophic event has occurred.
After event: developers are liable for catastrophic damages.
Board of Frontier Models would be created to issue guidance and regulations and to set compute thresholds for covered models.
Unclear whether Governor Newsom will sign this bill into law, as he has presented himself as pro-innovation.
2. 28 of 70 new unicorns in 2024 hit $1B valuation after early-stage round
More startups after seed and until Series B are becoming unicorns this year:
~12 were AI startups, including Elon’s xAI and China’s Moonshot AI.
3 Web3 early-stage startups also became unicorns.
Q1 saw 17 early-stage unicorns, while Q2 saw only 8.
-3% YoY, with 29 early-stage startups receiving unicorn status in 2023.
Automation and integration that scales processes and delivers insights.
From sale to billing and revenue recognition to general ledger and forecasting, get one system of record.
*Sponsored.
4. Google expands AI Overviews to 6 new countries, 3 months after U.S. debut
Google AI Overviews is rolling out in new markets with support for local languages such as Portuguese, Hindi:
