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Power law encourages classic venture capital firms to invest in companies that have the potential to generate billions of dollars in revenue. This puts pressure on entrepreneurs to take on more risk in order to achieve such scale. As a result, many worthy companies are failing. This is an interesting problem to tackle because it provides resources for companies that have the potential to be successful, but may not be unicorns [source].
It's time to shake up venture capital.
The Stability AI round was led by Coatue and Lightspeed Venture Partners with participation from O’Shaughnessy Ventures LLC. The tranche values the company at $1 billion post-money and comes as the demand for AI-powered content generation accelerates [source].
The startup behind Stable Diffusion, raises $101M.
Decentraland, a sandbox environment that allows users to buy and sell virtual real estate, isn't exactly teeming with people. In fact, the Ethereum-based world only had 38 active users over a period of 24 hours. Decentraland's creative director Sam Hamilton argues that the platform is visited by around 8,000 users on an average day. Even so, it is dismal for something that's supposed to be the future of online communities [source].
This metaverse is valued at $1.2B but only has 38 active users.
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DGST 2022