OpenAI fires back at Musk, and Monzo raises a megaround
Mar 6, 2024
OpenAI strikes back at Elon Musk over control issues amid a lawsuit, revealing tension from their early days. Meanwhile, Monzo's new funding signals a recovery in the fintech sector. Ema emerges from stealth with impressive backing, but faces fierce competition in AI. Accenture's acquisition of Udacity raises eyebrows, marking a shift in the startup landscape. Excitingly, new climate regulations could propel carbon-tracking startups into the spotlight, while OpenView Venture Partners stuns everyone by returning most of its fund to investors.
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OpenAI and Musk
Elon Musk offered OpenAI $45 million, less than initially committed.
After realizing OpenAI needed billions, Musk wanted to be CEO of its for-profit arm.
insights INSIGHT
Monzo's Megaround
Monzo secured a $430 million round, reaching a $5 billion valuation.
Higher interest rates benefit challenger banks like Monzo.
insights INSIGHT
Emma's AI Approach
Emma, an AI startup, aims to create a "universal AI employee".
They question if too many AI companies focus on apps instead of lower-stack development.
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This is our Wednesday show, focused on startup and venture capital news that matters. If you are a founder or an investor, this one is for you!
Here’s the day’s rundown:
OpenAI fires back at Musk: In the wake of a lawsuit from former backer Elon Musk, OpenAI is bringing receipts and an argument that Musk wanted to run the company’s for-profit arm. Hard to argue against something that you wanted to run, yeah?
Monzo raises megaround: Monzo’s latest round is proof that the worst of the fintech slump is behind us.
All eyes on Ema: With $25 million and a launch from stealth, Ema’s work to bring AI to the enterprise is notable. But in such a crowded market, are many startups aiming too high on the stack?
Accenture buys Udacity: The former unicorn’s final resting place is not what it had dreamed of before, but this deal does bring welcome liquidity to at least one venture-backed startup.
A climate boost? An upcoming regulatory choice could unlock a massive wave of demand for carbon-tracking startups.
And the latest from OpenView: The Information reports that OpenView is returning most of its latest fund to backers. A weird and slightly sad final chapter for the firm.
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.
Equity