Equity The TikTok ban clears key hurdle while Perplexity AI continues to shake up search
Apr 24, 2024
TikTok is facing serious challenges in the U.S. as a new bill could lead to its sale or ban, stirring concerns among fans. Meanwhile, the AI scene is buzzing with new potential, spotlighting startups like Perplexity AI that are shaking up the landscape and securing fresh funding. Framework laptops are also making waves with their latest capital raise. There's excitement in the air, especially with Pony.ai eyeing a U.S. IPO and fresh competitors emerging in Europe, hinting at a vibrant future for tech and venture capital.
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TikTok Ban
- The US Senate passed a bill that could ban TikTok if ByteDance doesn't sell it.
- This is due to concerns about data collection and information manipulation by the Chinese government.
US and China Market Dynamics
- While the US moves to limit Chinese companies' access, Chinese companies seek US capital.
- Pony.ai, a Chinese self-driving company, plans a US IPO, highlighting this dynamic.
Perplexity AI Valuation
- Perplexity AI's potential $3B valuation at 150x ARR is driven by its rapid growth and search competition.
- Venture capitalists see a huge upside due to Perplexity AI's rising traction in the search market.