AI-powered drug development, VW teams up with Rivian, and DEI is 'bad'

Jun 28, 2024

Dive into the dramatic world of tech with discussions on an AI-driven drug development startup securing $372 million in funding. Explore Volkswagen's bold $1 billion partnership with Rivian that could skyrocket to $5 billion. Discover the rise of the fediverse, a decentralized social media revolution gaining traction post-Twitter's transition. Finally, engage in the heated debate over shifting from DEI to a new framework prioritizing merit and excellence, stirring controversy in the tech landscape.

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ANECDOTE

Desert Camping Mishap

Haje went camping in the desert in 115-degree Fahrenheit heat.
He ultimately retreated to an air-conditioned hotel.

INSIGHT

AI-Powered Drug Development

Formation Bio, an AI drug development startup, raised $372M in Series D funding.
Their AI tech aims to accelerate drug development and reduce costs by predicting efficacy and toxicity.

INSIGHT

VW and Rivian Partnership

Volkswagen Group invested $1B in Rivian as part of a software development deal.
The partnership aims to improve VW's software for electric vehicles, leveraging Rivian's expertise.

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Mary Ann, Haje and Kirsten are back on the mic for this week's episode, which was is jam-packed with deals, hot topics, and the latest dramaaaaaa in the tech world.

For Deals of the Week, Haje wanted to chat about Formation Bio, an AI-focused drug development startup that just raised a whopping $372 million in Series D funding, led by Andreessen Horowitz. Next, Kirsten broke down the surprising partnership between Volkswagen Group and Rivian and how its initial $1 billion investment could grow up to $5 billion. To wrap up our deals, Mary-Ann highlighted Nubank’s acquisition of Hyperplane, an AI-for-banks startup.

Moving onto our themes, Haje took us on a deep dive into the fediverse, a decentralized network of social media platforms like Mastodon, Threads, and even Trump’s Truth Social. The fediverse has seen a surge in popularity, especially after Elon Musk acquired Twitter (now X). Mastodon, for example, has just about tripled its user base since Musk took over. The appeal lies in its decentralized nature, offering users more control and niche communities. Whether you’re a photographer, a journalism enthusiast, or just someone fed up with traditional social media, the fediverse has something for you.

Last but not least, we discussed the ongoing debate around DEI (Diversity, Equity, Inclusion) in tech in a more controversial segment. Scale AI’s founder Alexandr Wang recently sparked a debate by advocating for MEI (Merit, Excellence, Intelligence) over DEI. This has drawn support from big names like Elon Musk and Palmer Luckey but also significant criticism.

The stats are troubling: new women recruit levels in the U.S. data industry have dropped dramatically, and DEI-related job listings are down.

Equity will be back on Wednesday with a new interview episode, so stay tuned!

Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Monday, Wednesday and Friday.

Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes over at Simplecast.

Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

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