Good morning everyone,
This is Flowlie newsletter with insights on VC & PE: from operations, tech, and tax matters to trends, notable guides, and news on recent capital raises. We hope you enjoy it and find some value!
Learn about AutoGPT:
AutoGPTs, which appeared just last week, are designed to automate GPT-4 tasks, enabling the creation of agents that complete tasks for you without any intervention.
The main features of AutoGPTs:
assign tasks/goals to be worked on automatically until completed,
chain together multiple GPT-4s to collaborate on the tasks,
internet access and ability to read/write files,
memory to know what has been done.
Credits to this Twitter thread. Read it and this thread as well to learn more about AutoGPT and its applications. Potential applications include market research, product research, sales prospecting, podcast research, and more!
In other news:
1️⃣ Elon Musk has created a new company called X.AI, dedicated to artificial intelligence. Musk has reportedly sought funding from SpaceX and Tesla investors to get the company started. This move comes amidst rumors that Musk was planning to create an AI firm to compete with the Microsoft-backed OpenAI, an organization that he co-founded in 2015 but walked away from in 2018. Read more here.
2️⃣ Senate Majority Leader Chuck Schumer is working on legislation to regulate artificial intelligence technology, according to a source briefed on the proposal. The proposed regulations would focus on four guardrails geared towards ensuring responsible AI, including transparent and strong ethical boundaries, and would balance the need for security, accountability and transparency with facilitating innovation. Read more here.
Venture announcements that caught our eye:
1️⃣ Global fintech funding increased 55% from Q4 2022 to $15bn in Q1 2023, according to CB Insights' latest report. However, of that amount, $6.5bn was raised by Stripe. Removing that amount reveals a 12% decline in funding, while deal count was down to 983 deals from 1,007 in Q4 2022. The Q1 2023 funding is the lowest seen since 2019 if Stripe's funding is discounted. Read more here.
2️⃣ The failure of Silicon Valley Bank (SVB) has sparked concerns that tighter regulations may be coming for private companies and funds, which could fundamentally alter the venture capital industry. The Securities and Exchange Commission (SEC) has proposed changes that could increase barriers to capital for companies and funds, limit investor access, and push more companies from private to public. Read more here.
Flowlie news 🎉
We are thrilled to announce our latest improvements to paginated tables, providing even more control and customization for our users. The pages improved are Investor Discovery, Access Manager, Triage, Passed Deals, and Investor Contacts.
Learn more here.
As always, feel free to email us with any questions,
Mike from Flowlie