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The phrase “Firgun” (Hebrew: ??????/ pronounced ‘feer-goon’) is a casual fashionable Hebrew time period and idea in Israeli tradition (initially Yiddish), which describes real, unselfish delight or pleasure within the accomplishment of the opposite individual. It’s the alternative of “schadenfreude”. Firgun is all about genuinely feeling and expressing happiness, pleasure, or admiration for another person’s accomplishments, success, or well-being. Extra about Firgun and why it issues on VC Cafe: https://lnkd.in/dg2a86p
I used to be in Chicago final week and noticed a poster of the American hostages nonetheless held in G**a together with 23 12 months previous American Israeli Hersh Goldberg-Polin, who misplaced a hand on October seventh and has been denied a Pink Cross go to. We should #BRINGTHEMHOME Now.
A research by the Israel Innovation Authority reveals that tech workers pay over a 3rd of all earnings tax in Israel. The report emphasises the urgency of funding in startups and schooling for underrepresented populations to safe one of many important sources of tax income.
Within the wider tech world, Google launched Pixel 9, its first AI powered telephone and a brand new picture generator, Imagen3, criticised for being too censored. In the meantime Grok launched Grok-2 a brand new upgraded language mannequin which embrace a controversial picture generator – the latter is creating some actually offensive pictures. Perplexity answered ~250M queries in July vs. 500M in all of 2023. Anduril Industries raised $1.5 billion (!) for its defence tech. Lastly, Walmart’s CEO Doug McMillon simply reported that the corporate is utilizing generative AI to extend its productiveness, updating 850 million product catalog entries 100 occasions quicker than human-led strategies.
Heads up that #Firgun is taking the week off subsequent week for summer season holidays. Wishing you a very good summer season break!
QUOTE OF THE WEEK
In memoriam:
“Management is just not outlined by the title you may have however by the mindset you carry.” – Susan Wojcicki, former CEO of Youtube who handed away final week aged 56
NEW FUNDING ROUNDS
- Congratulations Omer Goldberg and staff Chaos Labs in your $55M sequence A in your Blockchain danger administration platform that secured over $765 billion in cumulative buying and selling quantity!
- Properly carried out Itzik Cohen and staff PayZen on securing a $32M sequence B extension in your AI platform to sort out healthcare affordability!
- Great things Yossi Appleboum and staff Sepio in your $11M sequence B in your {hardware} asset danger administration platform based mostly on gadget existence!
- Technique to go Roy Daniel and staff definity on securing a $4.5M seed spherical to provide firms the instruments to watch, repair and optimise their information pipelines!
- Good job Hadassah Backman and staff Guardoc Well being in your $3M seed spherical to assist relieve nurses workload with AI!
EXITS
LINKS FOR YOUR BROWSER
Israel:
- Israel’s Weizmann Institute, Hebrew U, and Technion make international prime 100 listing
- The most important international VCs are secretly battling over Israeli defence-tech startups
- Opinion: Now Is the Time to Spend money on Israeli Corporations
World:
- State of the market H2 2024 – by SVB
- How far AI has are available in 2 years – by Ethan Mollick
- Apple’s Subsequent Huge Factor Is Reportedly an iPad on a Robotic Arm
MEDIA OF THE WEEK
Good cookies – variety of international born founders who created billion greenback firms within the US
Common benchmarks based on income scale by Bessemer Enterprise Companions
The most effective is but to return. 25 years of the enterprise capital business booms and busts visualised by SVB.
A matter of perspective. Views on worth of portfolios depend upon the attention of the beholder. By PitchBook
Is smart. The way forward for senses market panorama by CB Insights
Founders humour – the perks of being a startup founder ?
Lastly, Sequoia Capital associate Shaun Maguire says he desires to lift his children in Israel in order that they study resilience and grit
That’s all for this week. There’s lots to rejoice in our “small” group, Carry on creating!
I am a former normal associate at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google’s first bodily hub for startups.
I am additionally the founding father of Techbikers, a non-profit bringing collectively the startup ecosystem on biking challenges in assist of Room to Learn. Since inception in 2012 we have constructed 11 faculties and 50 libraries within the growing world.
