Morning Thrust | Weekly Highlights (81st Edition: 30.06.2024)

Welcome to the 81st edition of Morning Thrust ,?your?weekly dose?of?highlights?in future tech,?space economy,?sustainability,?smart cities,?supply chain,?logistics and more! In this edition (30.06.2024), we bring you the?most exciting?developments shaping?our world.?Stay informed and?ahead of the curve?with our curated insights.?Let's dive in!

Kleiner Perkins secures over $2 billion in new funds, defying VC fundraising challenges amidst a slow IPO market. The 52-year-old firm plans to focus on AI-driven efficiencies across enterprise software, consumer, healthcare, fintech, and hardtech sectors, following past successes like Airbnb and Robinhood.

In European venture capital, gender bias persists despite evidence showing higher returns with more women decision-makers. CapitalT, led by Janneke Niessen and Eva de Mol, challenges this norm with VCVolt, focusing on diverse founder teams (52% women, 48% people of color). Their proactive approach underscores the potential for inclusive and successful VC ecosystems, despite ongoing challenges like homophily and harassment in the industry.

Formation Bio , backed by OpenAI CEO Sam Altman, raises $372M in Series D funding led by Andreessen Horowitz. The startup focuses on using AI to streamline drug development, with plans to enhance partnerships and R&D efforts. Formation Bio, formerly TrialSpark, aims to innovate clinical trials and drug development processes, currently advancing treatments for chronic hand eczema, sensory neuropathy, and knee osteoarthritis.

In a groundbreaking experiment, researchers from 日本东京大学 and 美国哈佛大学 have developed a robot face with living skin, resembling a smiling, albeit unsettling, creation. Published in Cell Reports Physical Science, the study explores attaching living tissue to robotic structures, potentially offering benefits like self-healing and sensitive touch. Though currently experimental, this innovation raises questions about integrating biological and mechanical systems seamlessly.

Enveda secures $55M to blend ancient remedies with AI for drug discovery, led by founder Viswa Colluru. The Colorado-based biotech uses AI to analyze 38,000 medicinal plants from global cultures, aiming to accelerate the discovery of new medicines for various diseases. Their innovative approach has attracted investments from Microsoft and others, totaling $230 million, with upcoming clinical trials for treatments targeting skin conditions and inflammatory bowel diseases expected this year.

Mark Zuckerberg criticized closed-source AI competitors, suggesting they aim to 'create God' with centralized technologies, emphasizing the importance of open-source AI tools to empower diverse innovations. He highlighted Meta's approach to AI diversity and announced AI Studio's early tests for Instagram, allowing creators to build AI avatars. His comments followed Meta's failed negotiations with Apple over AI integration, emphasizing Meta's strategy beyond smartphones towards smart glasses and holographic displays, envisioning future human-computer interactions.

OpenAI continues its acquisition spree with the purchase of Multi, previously known as Remotion, an enterprise-focused video collaboration platform. Following the acquisition, most of Multi’s team will join OpenAI. This move aligns with OpenAI’s strategy to expand into enterprise solutions, following recent acquisitions and partnerships aimed at enhancing its corporate offerings, including AI-powered tools and custom model consulting.

Dot, a new AI chatbot, aims to be your personalized companion by learning about your thoughts and feelings through deep Q&A sessions. Developed by startup New Computer, Dot facilitates introspection and personal growth, though it emphasizes it's not a replacement for human relationships. The AI, backed by $3.7 million in funding, uses multiple AI models to mimic empathy and engagement, offering subscribers unlimited conversations for $11.99/month without monetizing user data.

Hebbia , a startup using AI for document search, secures nearly $100M in Series B funding led by Andreessen Horowitz . Founded in 2020 by George Sivulka, Hebbia aims to streamline document analysis across industries like finance and law. This funding round values the company between $700 million and $800 million, marking a significant milestone in its growth with total capital raised now exceeding $120 million.

Getir 's shareholders have approved a restructuring plan splitting the company into two, with Abu Dhabi's Mubadala injecting up to $250m (￡197.5m). One entity will focus on Turkish food delivery, led by Batuhan Gultakan, while founder Nazim Salur will oversee other assets like Getir Drive and BiTaksi. This move follows Getir's exit from UK and European markets, marking a significant shift after once being valued near ￡10bn.

Dubai plans an $8 billion stormwater system following unprecedented floods that paralyzed the city in April. Sheikh Mohammed bin Rashid Al-Maktoum announced the project, set for completion by 2033, to absorb 20 million cubic meters of water daily and increase drainage capacity by 700%, aiming to bolster readiness against future climate challenges in the UAE's futuristic business hub.

亚马逊 plans to launch a new marketplace competing with Temu , SHEIN and AliExpress , offering low-priced items shipped directly from China. This move aims to provide cheaper products, sacrificing fast delivery for cost savings. Sellers will ship goods from China to U.S. customers in 9-11 days, tariff-free under the de minimis threshold. Amazon aims to retain control over pricing and selection, countering competitors' advantages in fast iteration and lower prices.

亚马逊 faces a new ￡2.7 billion lawsuit in the UK from over 200,000 third-party sellers, alleging market dominance abuse, including favoritism towards its own products and logistics. The opt-out collective action seeks ￡2.7 billion ($3.4 billion) in damages, backed by litigation funder Innsworth Capital. This follows ongoing scrutiny over Amazon's marketplace practices both in the UK and internationally.

US Logistics Solutions, a Texas-based Trucker , has filed for bankruptcy, leading to the closure and elimination of 2,000 jobs. The company cited insufficient funding from its lender as the reason for ceasing operations, amid a challenging American trucking market.

Serve Robotics , backed by Uber and 英伟达 , announces a $40M public offering, offering 10 million shares at $4 each. The funds will advance development of its sidewalk delivery robots and expand market presence globally. Serve's common stock, trading under "SERV," debuts on Nasdaq Capital Market following approval. The company, known for AI-powered delivery robots reducing traffic and emissions, aims to scale operations with ongoing Uber Eats partnerships in multiple U.S. markets.

美国麻省理工学院 robotics pioneer Rodney Brooks suggests that enthusiasm for generative AI may be exaggerated, cautioning against overestimating its capabilities. He argues that while impressive, generative AI isn't as versatile as believed, emphasizing the importance of realistic evaluation and practical applications, such as his warehouse robotics system at Robust.ai .

微软 plans layoffs in its mixed reality division but retains the HoloLens 2 team for the IVAS program supporting U.S. soldiers. A new patent hints at a future headset with versatile form factors, possibly for defense, enterprise, or consumer use, enhancing augmented and virtual reality experiences through adjustable display mechanisms. More details available in U.S. patent application 20240201505.

Web3 gaming poised for takeoff as industry leaders discuss its potential on Cointelegraph's Decentralize podcast. Executives from Shrapnel, Ex Populus, Saga, HyperPlay, and MetalCore emphasize the need for frictionless gameplay to attract both crypto enthusiasts and mainstream gamers. They see gaming as a gateway to broader crypto adoption, with optimism despite current challenges.

In 2024, major data breaches have exposed over 1 billion records globally, highlighting significant cybersecurity vulnerabilities. Incidents include AT&T 's leak of 73 million customer accounts, Change Healthcare 's massive medical data theft affecting a substantial portion of Americans, and Synnovis 's ransomware attack causing widespread disruptions in London's healthcare. These breaches underscore the ongoing threats and impacts on personal data security worldwide.

大众 is set to invest up to $5 billion in Rivian , with an initial $1 billion infusion aimed at enhancing their software capabilities through a joint venture. This move aims to bolster Rivian's mass-market R2 SUV development and VW's struggle with software in their electric vehicle transition, potentially benefiting brands like Porsche and Audi.

Waymo has eliminated its waitlist for its San Francisco robotaxi service, allowing anyone to now instantly hail a self-driving Jaguar I-Pace using their app throughout the city, mirroring their strategy in Phoenix. Despite recent software recalls, Waymo's expanded availability marks a significant step in its autonomous taxi operations, serving thousands of weekly trips, notably for medical and transit connections.

NASA - National Aeronautics and Space Administration is revolutionizing spacecraft construction with augmented reality (AR) technology for its Roman Space Telescope at the Goddard Space Flight Center. Engineers use AR headsets to digitally model and precisely assemble components, saving time and improving accuracy, with potential benefits extending to remote collaboration and enhanced data accessibility.

Europe is exploring sending data centers into space, according to the $2.1 million Ascend study. This initiative, coordinated by Thales Alenia Space for the European Commission, found it feasible to orbit data centers at 1,400 kilometers, harnessing solar energy to potentially reduce terrestrial energy demands. The project aims to enhance data sovereignty and support Europe's goal of carbon neutrality by 2050. However, challenges include high operational costs and security risks amidst global geopolitical tensions.

Two large asteroids will safely pass Earth this week, coinciding with Asteroid Day 2024. Asteroid 2024 MK, discovered just a week ago, will fly by on June 29, coming within 290,000 km of Earth. Another, (415029) 2011 UL21, much larger at 2310 m, will pass by more distantly on June 27, demonstrating a rare celestial event highlighting ongoing efforts to improve detection of near-Earth objects (NEOs).

NASA - National Aeronautics and Space Administration and Boeing clarify that astronauts aboard Starliner are not stranded on the ISS, emphasizing they are using time to ensure a safe return. Thruster tests in New Mexico will determine the landing schedule, with engineers addressing minor helium leaks. Despite initial issues, officials assure Starliner's readiness for emergencies and potential extended stays.

France and China have jointly launched a satellite on a mission to explore gamma-ray bursts in the universe, marking rare space cooperation between a Western nation and China. This collaboration underscores China's growing prowess in space exploration, surpassing US efforts and attracting partnerships across Europe and Asia.

NASA - National Aeronautics and Space Administration researchers recently conducted tests of next-gen space technologies during parabolic flights aboard Zero Gravity's G-FORCE ONE aircraft. These tests included evaluating ultrasonic blade technology for handling regolith at Martian and lunar gravities under the FLEET project, and testing 3D printing systems for tools and electronics on the International Space Station through the ODME project.

SpaceX secures an $843 million NASA - National Aeronautics and Space Administration contract to develop a spacecraft for safely de-orbiting the ISS by 2030, marking the end of its operational life. The U.S. Deorbit Vehicle, distinct from SpaceX's Dragon capsule, will be owned and operated by NASA. This decision comes amidst plans for new commercial space stations, ensuring the ISS's safe disposal without endangering populated areas during reentry.

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