This week on Equity, we’re discussing some unusual deals that are making waves in the tech industry. From AI talent management to private island "technocapitalist college towns," we’re diving into the world of defense tech acquisitions and exploring what’s behind these recent developments.
Story Raises $80 Million for AI Talent Management
First up, is the $80 million round raised by Story, a company that’s trying to apply web3 magic to AI and talent management. As one investor put it, "What Bitcoin did for money and finance, Story is doing for content and IP." While this may be an exaggeration, the potential of Story’s technology is certainly intriguing.
But what exactly does Story do? According to their website, they’re a platform that enables creators to monetize their work and connect with fans. They use AI to analyze audience engagement and recommend personalized content to users. It sounds like a fascinating combination of social media, e-commerce, and analytics.
However, the $80 million raise is not without its challenges. As one investor noted, "The web3 space is still very early days, and there’s a lot of uncertainty around how this will all play out." With Story’s valuation now over $400 million, it’s clear that investors are taking a bet on the company’s potential.
Bolt Raises $450 Million with a Complicated Term Sheet
Next up, is Mary Ann’s attempt to untangle the complicated term sheet for Bolt. The company has raised an impressive $450 million, but there’s a catch – much of this money comes in the form of "marketing credits" rather than actual cash.
So what does this mean? Essentially, Bolt is getting a large amount of marketing spend from its investors, which can be used to promote their services. This might sound like a great deal for the company, but it’s not entirely clear how much real value these credits hold.
As Ryan Breslow returns to lead the company, one has to wonder whether this complicated term sheet will simplify things or create more headaches down the line.
Balaji Srinivasan’s Private Island "Technocapitalist College Town"
Moving on from Bolt, Margaux MacColl joins us in DC to discuss Balaji Srinivasan’s private island venture. Dubbed a "technocapitalist college town," this project aims to create a self-sustaining community for entrepreneurs and innovators.
While the idea of a private island retreat for tech enthusiasts might sound appealing, Margaux raises some concerns about the potential cult-like atmosphere of the project. "Cults can be fine in moderation," she notes wryly, "but I’m worried about this one."
Two AI Companies Making Waves
Before we move on to defense tech acquisitions, Devin Coldewey wants to share two AI companies that aren’t typically associated with enterprise LLMs.
First up is Reliant AI, which focuses on helping researchers (especially in pharma) analyze thousands of papers at once. This technology could be a game-changer for data scientists who need to sift through vast amounts of information quickly.
Next, BeyondMath is working with Formula 1 companies to create a "digital wind tunnel" that simulates high-accuracy physics-based computational fluid dynamics simulations in near real-time. When was the last time ChatGPT made a race car faster? This innovative application of AI technology is certainly worth exploring further.
Increasing Activity Level in Defense Tech Acquisitions
Margaux wraps up our discussion by highlighting the growing interest in defense tech acquisitions. With more than $100 billion invested since 2021, it’s clear that investors are starting to take notice of this previously taboo market.
While defense tech is not typically associated with AI or web3, Margaux argues that these categories are becoming increasingly intertwined. As companies like Story and Bolt demonstrate, the lines between traditional industries and emerging technologies are blurring fast.
So what does this mean for the future of tech? One thing’s for sure – we can no longer ignore the defense tech space if we want to stay ahead of the curve.
Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo. New episodes post every Monday, Wednesday, and Friday, covering the latest developments in the world of startups and emerging technologies.
Subscribe to Equity on Apple Podcasts, Overcast, Spotify, or your preferred podcast platform. You can also follow us on X (formerly Twitter) and Threads at @EquityPod. For the full episode transcript, check out our archive on Simplecast.
About Devin Coldewey
Devin Coldewey is a Seattle-based writer and photographer who first wrote for TechCrunch in 2007. You can find more of his work on his personal website at coldewey.cc.
Related Articles
- Story Raises $80 Million to Democratize AI-Powered Content Monetization
- Bolt Raises $450 Million with a Complicated Term Sheet
- Balaji Srinivasan’s Private Island Venture: A Technocapitalist College Town?
- Reliant AI Revolutionizes Research with AI-Powered Paper Analysis
- BeyondMath Brings AI to Formula 1 with Digital Wind Tunnel Technology
What’s Next?
As the lines between emerging technologies and traditional industries continue to blur, we’ll be keeping a close eye on developments in defense tech acquisitions. Stay tuned for more insights from our team of experts and join the conversation on X (formerly Twitter) using the hashtag #EquityPodcast.
