π The Bulletin #34: The Billion Dollar Series A, China's Emerging Industry Fund, and the End of the Hollywood Strikes
In this week's bulletin - The future of autonomous trucking, China's $13.7 billion emerging industry fund, and the end of the Hollywood strikes.
π The Billion-Dollar Series AΒ
In the evolving landscape of autonomous vehicles, a new disruptor has entered the market. Β Stack AV, led by industry veterans who previously spearheaded self-driving operations at Argo AI (a Ford-backed autonomous tech driving company), aims to revolutionize the heavy-duty trucking sector. With an investment of over $1 billion from Softbank Group Corp, a prominent Japanese holdings firm, their objective is to address complex supply chain and safety issues within the trucking industry. π Through leveraging SoftBank's extensive resources and expertise in artificial intelligence (AI), this partnership seeks to tackle a significant problem on a global scale β driving transformative change (no pun intended)Β in transportation and supply chain management. π¦
Unlike the seemingly stagnant self-driving car sector, there is promise for growth in the autonomous trucking industry β particularly when it comes to repetitive routes and highway driving. This advancement holds the potential for resolving problems related to driver shortages and ensuring safety during long-haul journeys. While they have operated discreetly thus far with undisclosed plans for commercialization, Stack AV actively showcases its technology on 18-wheelers while attracting considerable interest from prospective partners. The fusion of SoftBank's support with Stack AV's specialized knowledge marks a new era in autonomous trucking - one that could reshape the transportation supply chain industries and contribute significantly to the wider economy.
π¨π³ Chinaβs Emerging Industry Fund
China has unveiled a substantial $13.7 billion fund, known as the Emerging Industry Fund, with initial backing from China Reform Holdings Corp, a state-owned asset manager, and participation from more than 20 government entities and private investors. The fund will primarily focus on investing in burgeoning sectors like artificial intelligence, new energy, advanced materials, and biotechnology, which are pivotal to China's future economic growth.Β π
The Emerging Industry Fund represents a significant move by the Chinese government to foster innovation and technological progress as not only will it provide essential funding to startups and growing companies in these emerging fields but itβs also expected to draw in both foreign investment and talent to the country. As the world's second-largest economy, China's substantial investments in emerging sectors will have a far-reaching impact β‘οΈ. The availability of significant funding will expedite the development of cutting-edge technologies, leading to increased competition and more affordable products for consumers worldwide. In light of challenges such as an aging population and the current slowdown in economic growth that they are facing, embracing innovation is essential for China to overcome these obstacles and maintain its competitiveness in the global economy. π
π The End of the Hollywood Strikes
The longest strike in Hollywood history officially ended on September 28th after a grueling 146-day standoff. The Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) reached an agreement with a new contract that satisfies the writersβ requests including improved compensation/benefits and provisions protecting writers from emerging media technologies that threaten their livelihoods, such as streaming services.Β
With the strike now in the rearview mirror, both writers and studios are incredibly eager to pick up where they left off with their projects despite the lingering uncertainty concerning the future of the entertainment industry. The strike highlighted some of the challenges that the industry is facing, such as the rise of streaming services and the decline of traditional media. Only time will tell how the industry will adapt to these changes.Β
π What weβre consuming in Venture
Bill Gates, Mark Zuckerberg, and Elon Musk are meeting with federal lawmakers on Wednesday to discuss future AI regulations. Read more about it here.
In this episode of βThink Fast, Talk Smartβ, Matt Abrams, a lecturer at Stanford Graduate School of Business gives advice as to how to speak eloquently when put on the spot in a professional setting.
Thatβs it for this week, feel free to email me at lara_gamaleldin@brown.edu with any inquiries!
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