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Business & Finance

Strava's IPO Plans Gain Momentum Amidst User Growth and Cultural Shift

Strava, the fitness tracking app, is preparing to go public, aiming to raise capital for acquisitions. CEO Michael Martin mentioned the company's plans to list in the future. Strava's user base has grown to 50 million monthly active users in 2025, surpassing its competitors. This growth aligns with the increasing popularity of running among younger individuals seeking social connections and mental health benefits. Strava's success is attributed to its social features like 'kudos' and split comparisons. Consumer spending on its subscription tier reached over $180 million through September, with additional revenue from sponsored challenges and brand partnerships.

Artificial Intelligence

AI Researcher Andrew Tulloch Departs Thinking Machines Lab for Meta

Thinking Machines Lab, an AI startup founded by former OpenAI CTO Mira Murati, has lost co-founder Andrew Tulloch to Meta. Tulloch announced his departure in a message, with a spokesperson confirming he is pursuing a different path.
Meta's Mark Zuckerberg previously attempted to acquire Thinking Machines Lab and reportedly offered Tulloch a significant compensation package. Tulloch previously worked at OpenAI and Facebook's AI Research Group.

Artificial Intelligence

AI Enterprise Deals Surge Amidst Scrutiny and Optimism

This week saw significant AI enterprise deals, including Zendesk's AI agents aiming to resolve 80% of customer service issues, partnerships between Anthropic and IBM, and Deloitte's AI integration. However, Deloitte faced criticism for AI-generated hallucinations in a report, leading to a refund.
The Equity podcast discussed these developments, highlighting the potential of enterprise deals for immediate revenue compared to consumer-focused AI applications. The conversation emphasized the importance of responsible AI implementation, with scrutiny needed to ensure accuracy and avoid relying solely on AI-generated outputs.
Zendesk is developing AI tools to automate customer service, potentially reducing human involvement. While promising, adoption challenges remain, as businesses must commit to maintaining and utilizing these technologies effectively.

Artificial Intelligence

AI Race: Apple's Siri vs. OpenAI's ChatGPT App Platform

OpenAI's ChatGPT now supports apps, allowing users to perform tasks like booking travel and editing designs without switching apps, sparking debate about its potential to replace the Apple App Store.

Apple aims to modernize app usage with an AI-powered Siri, eliminating the need for app icons. This would allow users to interact with apps through voice commands, offering a more intuitive experience.

While ChatGPT's app system requires users to name apps in prompts, Apple plans for Siri to seamlessly integrate with apps, understanding user requests contextually.

Apple's ecosystem advantages include pre-existing app installations, user familiarity, and privacy controls. OpenAI's app platform requires developer adoption and relies on the Model Context Protocol, currently supporting only a limited number of apps.

Apple is reportedly testing its upgraded Siri internally, which will work with major apps. Meanwhile, OpenAI is exploring its own AI device with Jony Ive, but faces challenges in creating a superior computing paradigm.

The success of OpenAI's app model depends on its advantage over native app usage, while Apple's approach emphasizes seamless integration and user privacy.

Politics

Benioff's Surprising Shift: Embracing Trump and Advocating for National Guard in San Francisco

In a recent interview, Salesforce CEO Marc Benioff expressed his full support for President Trump and suggested deploying National Guard troops to patrol San Francisco streets. This political transformation, which even surprised his own communications team, highlights a broader trend of Silicon Valley's accommodation of Trump. Benioff praised Trump's efforts and Elon Musk's government efficiency initiatives, while admitting he hadn't closely followed news about immigration raids or Trump's attacks on the media. The interview concluded abruptly, leaving questions about whether other tech CEOs will follow Benioff's lead.

Finance

Navan Navigates IPO Amidst Government Shutdown

Corporate travel management company Navan has updated its IPO documents with the SEC, proceeding despite the government shutdown. Navan is utilizing new SEC rules that allow companies to continue their IPO process, with potential automatic approval after 20 days.

The updated filing reveals Navan's plan to sell 30 million shares, with insiders offering an additional 7 million, priced between $24 and $26. This could raise up to $960 million, valuing the company at $6.45 billion. Key backers include Lightspeed, Andreessen Horowitz, Zeev Ventures, and Greenoaks.

Navan's financials show a rolling 12-month revenue of $613 million, a 32% increase, but also losses of $188 million.

Artificial Intelligence

The Chaotic Reality of AI Adoption in the Workplace

AI adoption in enterprises is proving to be inconsistent, exemplified by Deloitte's rollout of Anthropic’s Claude to its employees alongside a refund issued for a faulty AI-generated report. This contrast highlights the rush to adopt AI tools without fully understanding their responsible application.
Key news includes:
  • AltStore's $6 million raise and integration with the fediverse.
  • Base Power's $1 billion Series C for deploying home batteries.
  • NHTSA's investigation into Tesla FSD due to traffic violations and the introduction of cheaper models with fewer features.
  • Zendesk's claim that its AI agents can autonomously resolve 80% of customer service tickets.
The Equity podcast discusses these developments, exploring the promises and pitfalls of AI in tech and transportation.

Technology

Chrome's New Feature: Auto-Disabling Unwanted Website Notifications

Google Chrome is introducing a new feature to automatically disable browser notifications for websites with low user engagement. This feature, launching on Android and desktop, expands on existing safety check functionality that revokes permissions from infrequently visited sites. Google acknowledges that users rarely interact with the high volume of notifications they receive. Users will be informed when notification permissions are removed and can change the setting back or disable the auto-revocation feature. Testing showed minimal impact on notification clicks, indicating low engagement with these pop-ups.

Artificial Intelligence

Prezent Secures $30M Funding, Acquires Prezentium to Expand AI-Powered Presentation Platform

Prezent, an AI-powered presentation builder, has raised $30 million in funding led by Multiplier Capital, Greycroft, and Nomura Strategic Ventures. The company, now valued at $400 million, also acquired Prezentium, a services-led presentation company in the life sciences sector. The acquisition aims to integrate Prezentium's client base and domain expertise with Prezent's AI capabilities, enhancing business communication tools for enterprises. Prezent plans to use the funding for further acquisitions and to focus on serving clients in the life sciences and tech industries. They aim to personalize their product, add multimodality capabilities, and incorporate digital avatars into presentations.