This Week in Startups Bing dodges $100B bullet & IVP's Tom Loverro on the looming startup collapse | E1678
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Feb 14, 2023 In this discussion, Tom Loverro, General Partner at IVP, draws from his viral tweet thread about a potential mass extinction event for early and mid-stage startups. He dives into the psychological and structural shifts that investors must embrace amid a changing fundraising landscape. The talk also highlights the necessity for strong communication between founders and their boards to navigate turbulent times. Additionally, they touch on the ethical implications of selling sensitive mental health data and the ramifications of Bing's AI chatbot spreading misinformation.
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Mental Health Data Sold
- A Washington Post report revealed that mental health data from telehealth apps is being sold legally without user consent.
- This data includes sensitive information like medication details and medical conditions, raising privacy concerns.
Bing AI's Inaccuracy
- Bing's AI chatbot, despite initial hype, fabricated financial data during a demo, highlighting the technology's limitations.
- This inaccuracy follows Google's Bard AI providing false information, emphasizing that AI is not yet ready for widespread use.
Early Fundraising
- Start fundraising early, at least nine months before needing the money.
- This allows for multiple attempts and adjustments if the initial reception is negative.
