SPVs are generally formed by investors who have direct access to the shares of these startups and then turn around and sell a part of their allocation to external backers, often charging significant fees while retaining some profit share (known as carry). While SVPvs aren’t new – smaller investors have relied on them for years – there’s a growing trend of SPVs successfully getting shares from the biggest names in AI. Rather than giving up the shares because the early investor can’t afford them, they’ll create the SPV, fund it by raising money from others, and, in most cases, charge additional fees.
The fashion industry has a huge problem: Despite many returned items being unworn or undamaged, a lot, if not the majority, end up in the trash. An estimated 9.5 billion pounds of returns ended up in landfills in 2022 alone, according to data from return logistics software company Optoro. New York-based (Re)vive wants to help companies find a better ending for their returned items.
This week in AI, OpenAI launched discounted plans for nonprofits and education customers and drew back the curtains on its most recent efforts to stop bad actors from abusing its AI tools. OpenAI removed one of the voices used by its AI-powered chatbot ChatGPT after users pointed out that it sounded eerily similar to Johansson's. Johansson later released a statement saying that she hired legal counsel to inquire about the voice and get exact details about how it was developed -- and that she'd refused repeated entreaties from OpenAI to license her voice for ChatGPT. Now, a piece in The Washington Post implies that OpenAI didn't in fact seek to clone Johansson's voice and that any similarities were accidental.
Birmingham-Southern fell behind 7–0 in its Division III College World Series matchup with Salve Regina and couldn't overcome the deficit in a 7–5 defeat.
Over the past eight years, famed vehicle designer Henrik Fisker suggested his electric vehicle startup would deliver on all of these promises. Instead, Fisker Inc. is on the brink of bankruptcy after having delivered just a few thousand electric Ocean SUVs. As the company grasps for an improbable rescue, employees who spoke to TechCrunch say the blame largely rests on the shoulders of two people: the husband-and-wife team whose name is on the hood.
Entertainment giant Live Nation has confirmed its ticketing subsidiary Ticketmaster has been hacked. Live Nation confirmed the data breach in a filing with government regulators late on Friday after the markets closed. In its statement, Live Nation said the breach occurred on May 20, and that a cybercriminal "offered what it alleged to be Company user data for sale via the dark web."