GREY Journal Daily News Podcast

Equity funding for cleantech and sustainability-focused startups saw a significant decline in the first half of 2024, allocating approximately $9.6 billion, a 61% decrease from the latter half of the previous year and a 10% drop from the same period last year. Industries related to cleantech were less affected during the post-2021 downturn compared to other sectors. Despite the drop in equity inve...

RealPage, a rental pricing technology company, defends its software amidst ongoing legal challenges. Landlords express skepticism about the software's effectiveness and fairness. The legal battles center around concerns that the technology may contribute to unfair rental prices. While RealPage argues that its software helps landlords set competitive, market-based rents, opponents claim it may lead...

A significant federal investment of $5 billion targets upgrading or replacing dozens of aging bridges across 16 states. President Joe Biden's administration announced the funding as part of a larger $1.2 trillion infrastructure law signed in 2021, which dedicates $40 billion over five years to bridge projects. The largest chunk of $1.4 billion will fund the improvement of the vertical lift bridges...

Marc Andreessen, co-founder of a leading venture capital firm in Silicon Valley, historically a Democrat, now supports Donald Trump in the 2024 presidential race due to Trump's policies favoring tech and startups. Both Andreessen and his co-founder Ben Horowitz believe the future of technology and America is at significant risk. They argue that American success in technology, economy, and military...

Philadelphia Mayor Cherelle Parker mandated all 26,000 city employees to work in the office five days a week, starting Monday. This ordinance, signed by Judge Sierra Thomas Street, faced opposition from city unions who sought a delay. Currently, around 80% of city employees already work on-site full-time. The decision aims to enhance government visibility and accessibility to residents and is not...

San Jose-based DreamBig Semiconductor secured $75 million in equity funding, co-led by Samsung Catalyst Fund and Sehat Sutardja. Founded in 2019, DreamBig develops chiplet platforms for large language models and generative AI, totaling nearly $93 million raised so far. The semiconductor sector thrives, driven by the AI craze, with companies developing cost-effective, energy-efficient, and fast gen...

Tax breaks worth trillions of dollars, including the qualified business income (QBI) deduction, are set to expire after 2025 unless Congress acts. This deduction allows self-employed individuals and business owners to deduct up to 20% of eligible revenue. Enacted in 2017, the QBI deduction aims to align pass-through business tax rates with corporate tax rates. Approximately 25.9 million QBI claims...

Funding to Latin American startups rose significantly in the second quarter of 2024, driven by a resurgence in late-stage deals. Companies in South and Central America raised $791 million in seed- through growth-stage financing, marking a 25% rise from the previous quarter and a 17% increase from a year ago. Fintech led the recovery, with notable deals including $120 million for Celcoin and $100 m...

Walmart has relaunched its 30-year-old No Boundaries clothing line, targeting Generation Z with a new 130-piece fall collection. This initiative follows a three-year revamp of its adult apparel to merge practicality and style. The collection features modern items like baggy jeans, cropped T-shirts, faux leather corsets, and bomber jackets, mostly priced at $15 or less, with some pieces made from r...

Amazon's Prime Day on July 16 and 17, 2024, is projected to reach $14 billion in sales, marking a new record. Since its inception in 2015, Prime Day has become a significant revenue source, with sales growing yearly—reaching $12 billion in 2022 and $12.9 billion in 2023. Prime Day is exclusive to Amazon Prime members, who now number 200 million in the U.S. The event is a key period for back-to-sch...

Alphabet, Google's parent company, is in advanced discussions to acquire cybersecurity startup Wiz for approximately $23 billion. If finalized, this deal would set a record for the largest acquisition of a VC-backed company, doubling Wiz’s previous $12 billion valuation just two months after raising $1 billion. Wiz reported $350 million in annual recurring revenue for 2023. The acquisition aims to...

Donald Trump enters the Republican National Convention with bold economic promises but offers limited details on their implementation. Despite a recent injury at a Pennsylvania rally, his focus remains on tariffs, tax reductions, and energy expansion. He aims to levy tariffs on trade partners, eliminate taxes on tips, slightly reduce the corporate tax rate, tackle inflation, lower prices, and incr...

Funding to European startups reached nearly $16 billion in Q2 2024, marking a 31% quarterly increase and a 17% annual rise. European startups received more funding than Asian counterparts, with Asia experiencing its worst quarter since late 2015 due to U.S.-China tensions. The UK led Europe with $6.7 billion, followed by France with $2.9 billion, while Germany saw a decline to $1.8 billion. AI att...

Amazon Prime Day, an annual sales event, will take place on Tuesday and Wednesday this week, offering discounts exclusive to Prime members who pay $14.99 monthly or $139 annually for benefits like free shipping. Competing retailers, including Walmart, Target, Kohl’s, Macy’s, TikTok Shop, and Temu, have launched their own summer promotions. Macy’s will hold an eight-day discount event starting Tues...

The European Union focuses on Elon Musk's blue check system on the social media platform X, investigating potential regulatory breaches. Officials examine whether the system complies with transparency and anti-fraud measures. Concerns include misuse by non-verified users, misinformation risks, and insufficient moderation. The investigation also evaluates the implications for user data protection a...

Helsing, a defense-focused AI startup, has raised €450 million ($487 million) to enhance security in Estonia and the Baltic states. The company's valuation surged from $1.85 billion to $5.4 billion. U.S. venture funds with defense tech plans are engaging investors with Department of Defense and military backgrounds. PitchBook reports peak startup valuations in 2024, primarily in top-tier companies...

Residents of Wallace, Louisiana face a dilemma over a proposed grain terminal in their historic town. Sisters Jo and Dr. Joy Banner, who run a Creole cottage cafe near their ancestral land, are determined to stop the 222-acre grain export facility. The project would be built within 300 feet of their property and could industrialize the entire West Bank area, erasing the town’s heritage. Many Walla...

The Mirage Hotel and Casino in Las Vegas will close permanently on July 17, 2024. To comply with Nevada gambling regulations, the casino must distribute over $1.6 million in unclaimed jackpots before closing. This includes up to $1.2 million in slot machine prizes and $400,000 in table game winnings, which it began distributing on July 9 and must complete by July 16. Large crowds and minor alterca...

Investors are funneling funds into national security-focused startups, with Helsing raising €450 million to establish a branch in Estonia. Defence tech startup valuations peaked in 2024, benefiting mainly top-tier companies. DreamFlare assists creators in producing content through AI, while Scribble Journey offers art therapy via an app addressing the mental health crisis. Alma, a tech-driven lega...

On July 12, 2024, several startups across various sectors secured significant funding. Skild AI, a Pittsburgh robotics startup, secured $300 million in Series A funding, bringing its valuation to $1.5 billion. Element Biosciences, a San Diego biotech firm, raised over $277 million to advance DNA sequencing and multi-omics technology. Regal, the U.S. movie theater chain, obtained $250 million to up...

A new survey reveals that nearly half of parents with children under 18 are taking on side gigs due to rising inflation and housing costs. Specifically, 45% of these parents have side hustles, compared to 36% of childless adults and 28% of parents with adult children. On average, these side hustles bring in about $891 per month, with more than half of participants having started within the last tw...

Retro, a private photo-sharing app, identified significant similarities between its platform and a new feature in Google Photos called "My Week." The feature first appeared in a post on X and encourages users to document and share their week in a format akin to Retro's approach. Ryan Olson, Retro’s co-founder and CTO, pointed out the resemblance on X, referencing an Android Authority report that G...

In June 2024, wholesale prices in the United States rose by 2.6% compared to a year earlier, the highest increase since March 2023, indicating persistent inflation pressures. The Labor Department's producer price index, up by 0.2% from May to June, provides an early indication of consumer inflation trends. Core wholesale prices, excluding food and energy, also rose by 0.4% from May and 3% from Jun...

AMD strengthens its AI chip strategy by acquiring Finnish startup Silo AI for $665 million in cash. This acquisition marks a significant step for AMD, positioning it to better compete with Nvidia in the AI chip market. Silo AI employs over 300 AI experts, focusing on developing open-source and custom AI solutions for clients. AMD has also invested $125 million in various AI firms over the past yea...

Nvidia is evolving into a dominant player in the AI era, similar to IBM's role during the PC era. Jim Keller, a former engineer at AMD, Apple, and Tesla, now leading an AI chip startup Tenstorrent, describes Nvidia as central to the technology strategies of major companies like Microsoft and Google. Nvidia commands over 80% of the AI chip market, owing to its early investment in AI and machine lea...