The unique model of this text was posted on Linkedin.
It’s #Firgun time.
The phrase “Firgun” (pronounced ‘feer-goon’) is an off-the-cuff 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 other of “schadenfreude”. Firgun is all about genuinely feeling and expressing happiness, pleasure, or admiration for another person’s accomplishments, luck, or well-being. Extra about Firgun and why it issues on VC Cafe: https://lnkd.in/dg2a86p
It’s been 356 days since October seventh. This week’s cowl picture captures a poignant second in the course of the assault on Kibbutz Be’eri. It exhibits Kinneret Gat, 69, defiantly sticking her tongue out at a Hamas attacker, even because the neighborhood was being overrun. Tragically, Kinneret was killed shortly after this act of bravery. Her braveness within the face of such terror was exceptional, far surpassing that of her assailants. Might her reminiscence be a blessing. There are nonetheless 101 Israeli hostages in G**a. We should #BRINGTHEMHOME
It’s been a tricky 12 months for Israeli startups, however they fought exhausting to maintain their firms alive, regardless of coping with battle, file low enterprise capital volumes, and the same old challenges of operating a startup. Yearly, LinkedIn recognises probably the most in demand firms in every of the most important startup hubs, however this 12 months they failed to incorporate Israel. After a number of feedback, the editor stated that they are going to add Israel and a few different international locations subsequent week. It’s price mentioning that Israeli startups raised near $9 billion within the first 9 months of 2024 and exits have exceeded over $12 billion. Salesforce spent $2.6 billion on 3 Israeli acquisitions up to now 30 days alone. Israeli startups ship #NOMATTERWHAT.
There’s been plenty of pleasure and drama within the wider tech world this week. The Federal Reserve has lowered rates of interest for the primary time since 2020, slicing the federal funds charge by 50 foundation factors. Mira Murati, co-founder and CTO of OpenAI introduced she’s leaving in addition to the corporate’s head of analysis. Up to now it hasn’t deterred the buyers placing $6.5 billion at $150 billion valuation. OpenAI launched superior voice mode, with insanely good high quality. Jony Ive, former famed Apple designer, is collaborating with Sam Altman on a brand new AI-focused machine to switch the telephone. Meta made a number of main bulletins of their annual Meta Join occasion together with a brand new LLama mannequin (3.2) which has grow to be probably the most used open supply LLM, Meta AI accessible throughout all their apps at no cost, a brand new inexpensive model of their Meta Quest VR headset, however maybe most excitingly, Meta Orion, sensible AR glasses with holographic show (nonetheless not formally launched). YouTube launched a bunch of generative AI video capabilities for creators and Google made a number of upgrades to the spectacular NotebookLM.
QUOTE OF THE WEEK
“Peace shouldn’t be absence of battle, it’s the capability to deal with battle by peaceable means.” – Ronald Reagan
NEW FUNDING ROUNDS
- Congratulations Ofer Smadari and staff Torq on the spectacular $70M sequence C on your AI-driven SOC analyst resolution, making use of automation to repetitive safety associated duties.
- Approach to go Ori Tamuz and staff DoorLoop in your $51.6M sequence B on your rental property administration platform!
- Kudos Izik Lavy and staff GeoX Improvements in your $19M sequence A to analyse actual property danger from climate-related disasters!
- Properly carried out Marina S. and staff Tamnoon in your $12M Collection A on your AI managed cloud safety remediation startup!
- Mazal tov Gideon Lapidoth and staff Enzymit in your $10M sequence A to for cell-free bio-production expertise!
- Nice information Ella Tkach-Dreazen and staff Koios in your $5M seed spherical to detect on-line monetary threats and manipulation campaigns towards publicly traded firms!
- Superior milestone Idan Yalovich and staff Bluebricks in your $4.5M seed spherical to to interrupt infrastructure code into small items and orchestrate them utilizing semantic relationships!
EXITS
NEW VENTURE FUNDS
LINKS FOR YOUR BROWSER
From the weblog (by yours really)
- Artistic automation – how AI is reshaping creativity
- AI Brokers – the evolution of RPA
- Needle within the haystack – ideas for founders to seek out the proper investor
Israel:
- A startup for each sufferer of October 7 – Izhar Shay‘s venture, Subsequent October already chosen the primary 600 startups – by The Jewish Information
- Regardless of the battle, Israel holds third place in international tech investments, however development slows. Cyber leads the cost, however stagnating employment and reliance on mature firms elevate long-term considerations.
- Because the Households of Murdered Hostages, Our Message to Folks in Energy Is Easy: Act – on TIME
World:
- Do startups have an opportunity vs huge tech within the age of AI? Historical past says sure…in due time
- The intelligence age – Sam Altman’s Utopian imaginative and prescient
- Vertical SaaS, now with AI inside
MEDIA OF THE WEEK
Did LinkedIn ‘overlook’ to incorporate Israel in its Prime Startups record sequence? Daniel Roth now stated that Israel shall be added subsequent week.
A very good reminder of the energy of the Israeli startup ecosystem regardless of its dimension (and conflicts). Knowledge as of Might 2024. (h/t Sam Schwartzben)
Everybody desires to be on a rocketship, till…
OpenAI‘s chain of command has been disrupted (parody)
And associated (the way it began vs. the way it’s going)
A tragic Rosh Hashanah card becoming for the instances (credit score: Lusha)
The brand new AI Agent mapping by Menlo Ventures, is featured in my huge put up on AI Brokers on VC Cafe (see hyperlinks part)
Vertical SaaS AI by Andreessen Horowitz
Is that this Meta‘s iPhone second? Might Orion’s AR glasses exchange the smartphone (in the end?)
That’s all for this week. There’s lots to rejoice in our “small” neighborhood. Carry on creating!
I am a former basic accomplice 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 help of Room to Learn. Since inception in 2012 we have constructed 11 faculties and 50 libraries within the creating world.
