OpenSea's valuation -90% to $1.4B, as Coatue's 2021 fund -20%
Bay Area Times
November 08, 2023
Brought to you by:
Top stories today:
- OpenSea's valuation -90% to $1.4B, Coatue's 2021 fund -20%
- Google rolls out generative AI tools for Ads
- Israel enters “heart of Gaza City”, as U.S. rebuffs reoccupation
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. OpenSea's valuation -90% to $1.4B, as Coatue's 2021 fund -20%
Coatue was at -30% in September.
The 2021 vintage of VC funds is running negative, at the median, according to Cambridge Associates data as of March.
Moonpay also marked -90%.
2. Google rolls out generative AI tools for Ads
Performance Max uses AI to generate images, headlines, and descriptions:
Performance Max can also generate different backgrounds for images
Available in beta in the U.S.
Once accepted, you’ll join your own personal Sidebar group of highly vetted peers, a professional coach, and custom programming to drive impact in your career.
Members join a virtual community with messaging and connect in fast-paced meetings to solve their biggest challenges at work, faster.
Employer reimbursements possible: many Sidebar members get their membership fees covered by their employer.
Why spend a decade finding your people - join the growing waitlist of top senior leaders, and apply to become a founding member. - Sidebar
*Sponsored.
4. Israel enters “heart of Gaza City,” as U.S. rebuffs reoccupation
Israeli army reaches tunnels deep in Gaza City.
White House favors “transition period”, no occupation of post-war Gaza.
Israel: we don't want to govern Gaza.
U.S. bases continue being attacked by Iran-linked groups.
Shekel jumps to 3.84, stronger than pre-war.
Saudi Minister: normalization remains on table.
Hezbollah: war participation reduces pressure on Gaza.
2 Iron dome batteries being leased by Israel from U.S.
Rep. Tlaib censured by House (234-188) over Israel remarks.
5. Bloomberg Media hits 500K paying subscribers
6. Trump's $3.1B portfolio, visualized
Up from $2.6B in 2021.
It's your best resource for exclusive interviews, guides, and research reports on finance and tech. Bay Area Times PRO gives you:
Exclusive interviews with the world's top investors and founders (1st one out this Saturday!)
Exclusive research reports and guides on finance and tech.
No advertising.
Get our daily newsletter before everyone else. - Get access now.
8. Interesting videos, posts, and memes
9. Other headlines
AI
Amazon developing Olympus AI, announcement likely in Dec.
IBM launches $500M enterprise AI VC fund.
Microsoft giving startups free access to AI in Azure, starting with YC.
Oracle infrastructure partnership announced.
AI ETF launched by LG, Qraft.
Stability AI announces strategic funding, amount of $ TBD.
Baidu orders AI chips from Huawei, in shift from NVIDIA.
Samsung announces its generative AI Gauss.
FTC attacks AI in rare filing to Copyright Office.
Tech earnings
Uber's revenue +11% YoY to $9.3B in Q3.
eBay's revenue +5% to $2.50B.
Nintendo's revenue -4% to $2.2B, to make live-action Zelda movie.
Rivian's revenue +20% to $1.34B, as it raises production forecast.
Carlyle's revenue -34% to $717M.
Datadog's revenue +25% to $548M.
Robinhood's revenue +29% to $467M.
Bumble's revenue +18% to $275.5M
Tech
Apple delays new software updates to focus on bugs.
WhatsApp “next chapter” of Meta: Zuckerberg interview.
Search message by date being rolled out.
GTA VI may be announced this week.
01 Advisors, led by ex-Twitter CEO Costolo, raises $395M fund.
Zeus Living, Airbnb-backed leasing startup, shutting down.
Sidebar is a leadership program that accelerates your career.*
Sportradar: NBA player tracking measures usage like never before.*
*Sponsored.
Tech & law
Meta to require political ads to disclose AI-generated content.
iMessage: Google, others urge EU to regulate it as “core” service.
Google paid $360M to Activision to ensure games on Play Store.
Meta former employee: execs ignored Instagram's harm to teens.
CFPB regulator wants to extend rules to payment apps.
Microsoft offering politicians tool to combat deepfakes.
Biotech
Alzheimer's: T3D shows promising Phase 2 results.
Flagship Pioneering opens Singapore office.
Patients overpaying for drugs due to PBMs: analysis.
Monica Bertagnolli confirmed by Senate as NIH director, 62-36.
Ketamine off-label prescriptions for pain treatment rise.
Did evolution select for aging?
Business
Beijing asks insurance group to take controlling stake in Country Garden.
$8B NYC casino: Steve Cohen partners with Hard Rock on bid.
Goldman seeks to sell GM, Apple credit-card programs.
Crypto
U.S. politics
Election results as exp.: Dem wins KY Gov., Ohio votes for abortion.
Trump +4 vs. Biden in CNN poll, +1.4 in RCP average.
Govt shutdown in 10 days: unclear what Speaker Johnson will offer.
World
Xi, Biden to meet on Nov. 15 in San Francisco.
Ukraine: EU will recommend membership talks, likely to take years.
Plan B Passport: learn how you can obtain one.*
*Sponsored.
Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below).
What did you think of today's newsletter? |
Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.
Please read our Terms of Service and our Privacy Policy before using Our Service.