Start-up
38-year-old quit his job, spent $50,000 to launch a company from his Bronx apartment—now billionaires wear his luxury coats
It was 95 degrees when the first prototype of a Norwegian Wool jacket arrived at Michael Berkowitz’s apartment in The Bronx, New York, in August 2014. Needing to test the waterproof knee-length wool coat without getting heat stroke, the founder and CEO of the then-fledgling apparel brand took it to a supermarket in West Harlem. […]
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Fintech startup Upgrade valued at $7.3 billion in new funding round
Key Points Upgrade, a provider of online loans and other financial services, said it raised $165 million in its first funding round since 2021. The startup is now valued at $7.3 billion, according to CEO Renaud Laplanche. Neuberger Berman led the round, with participation from LuminArx Capital Management. Source
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Risk-averse parents are fueling Britain’s ambition crisis, VCs say
Mother and daughter using the laptop at home Fg Trade | E+ | Getty Images Concerns of an entrepreneurial ambition deficit in the U.K. have led some venture capitalists to question the role of risk-averse parents and a costly education system in disenfranchising young British people from becoming founders. Last month, U.K. Business Secretary Peter […]
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OpenAI’s dominance is unlike anything Silicon Valley has ever seen
OpenAI DevDay Ashley Capoot | CNBC Virtually every successful tech startup throughout history has faced the reality that it could get swallowed up or run over by a large incumbent at any moment. It’s part of daily life for an entrepreneur. But the company at the center of the current boom is a different kind […]
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U.S. founders are ‘shameless’ with feedback and Europe’s should do the same: OpenAI’s startup boss
OpenAI’s EMEA startups head Laura Modiano spoke at the Sifted Summit on Wednesday, 8 October. Nurphoto | Nurphoto | Getty Images In the latest comparison between American and European founders, OpenAI’s startup boss admitted that the Americans are “almost shameless” when it comes to making demands and giving feedback to the AI giant. Laura Modiano, […]
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Shaq, Sam Altman-backed college startup Campus taps former Meta AI head as CTO
Campus, a college startup backed by Sam Altman, has hired Meta‘s former AI Vice President Jerome Pesenti as its technology head, the company announced Friday. As part of the deal, Campus will buy Pesenti’s artificial intelligence learning platform Sizzle AI for an undisclosed amount and integrate its personalized AI-generated educational content already used by 1.7 […]
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OpenAI expands budget-friendly ChatGPT Go to 16 more countries in Asia
OpenAI’s ChatGPT Go has expanded to a total of 18 countries across Asia, according to an announcement made yesterday. Nurphoto | Nurphoto | Getty Images OpenAI has expanded its lower-cost subscription plan, ChatGPT Go, to 16 more countries across Asia, company head Nick Turley announced Thursday. “Making ChatGPT more affordable has been a key ask […]
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‘The system is rigged’: Founders and VCs weigh in on the UK’s ambition deficit
Almost 60% of young people in the U.K. are interested in starting their own businesses, per the Generation Entrepreneur Report. Connect Images/ci-start | Connect Images | Getty Images Young Brits are catching flak for their apparent lack of entrepreneurial drive, sparking a broader debate on whether the U.K. startup scene is facing an ambition deficit. […]
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Silicon Valley’s new defense tech ‘neoprimes’ are pulling billions in funding to challenge legacy giants
Guvendemir | E+ | Getty Images A wave of defense tech startups in Silicon Valley is drawing billions in funding and reshaping America’s national security. Anduril Industries, recently valued at $30.5 billion following its latest funding round, is among the so-called “neoprimes” — companies challenging the dominance of legacy contractors, dubbed “primes,” such as Lockheed Martin, Northrop […]
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Startup founders share how they bounced back from failure: ‘I lost a lot of my identity’
Over two-thirds of startup founders have a fear of failure, per the Founder Resilience Research Report, 2024. Skynesher | E+ | Getty Images Startup founders face immense pressure to succeed, but it can be even more challenging to let go of a failed business and find success after. Building a startup has always been risky. […]
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