Tech: The new walking dead? Venture funds
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The new walking dead? Venture funds
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Tech: The new walking dead? Venture funds
Another day, another newsletter. I'm Jordan Parker Erb, and today I'm gracing your inbox with news of a Google bot that may have achieved consciousness, and a completely unattainable (but terrific) electric Porsche.
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Other shows and films are coming in the zombie genre, threatening to take more viewers aware from "TWD" universe.Steve Swisher/AMC
1. As fundraising dries up, venture funds face a harsh reality. During the boom times of the past four years in the tech industry, more than 1,100 first-time venture funds were born. Now, with LP funding slowing to a trickle, many could turn into zombies.
Unlike the startups they fund, venture firms do not suddenly go out of business. Instead, they face an agonizing death that can stretch over years — or even decades.
Unable to raise new capital, they slowly bleed staff, coasting on management fees while trying to salvage whatever they can of the investments they have already made.
"There's going to be a lot of walking dead venture firms," one partner predicted. "If you don't raise another fund, you're resigning. It's just a matter of time before you're dead."
Inside the zombification of venture funds.
In other news:
Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images
2. A Google engineer said he was placed on leave after claiming an AI chatbot was sentient. He said he has spoken with the bot about religion, consciousness, and the laws of robotics, and that it wants to "be acknowledged as an employee of Google rather than as property." Read the conversations that convinced him of the bot's sentience.
3. For some VMware employees, work is "semi-meaningless" right now. As employees prepare for an acquisition by chipmaker Broadcom, many fear their new owner is likely to cut jobs and product lines. Here's what VMware staffers told us.
4. Prime members are suing Amazon for nixing free Whole Foods delivery. Getting food delivered from Whole Foods now costs $9.95 per order, and Prime members are none too pleased. What we know about the lawsuit so far.
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