August 13, 2024
Tech News
Artists’ lawsuit against generative AI makers can go forward, judge says. A class action lawsuit by artists against Stability, Runway, and DeviantArt for allegedly using copyrighted works to train their AIs will proceed, though some claims were dismissed. The case could be lengthy and costly for the AI companies.
Antler doubles down on Southeast Asia with $72M second startup fund. Singapore-based VC Antler has closed its second Southeast Asia fund, raising $72 million to invest in early-stage startups in Singapore, Indonesia, Vietnam, and other regions.
In other news, Score, the dating app for people with good to excellent credit, quietly shuts down. The dating app Score, which targeted users with good to excellent credit, has shut down after accumulating around 18,000 users and making 8,000 matches.
Crewed commercial SpaceX mission will traverse the poles like the explorers of old. SpaceX’s Fram2 mission will launch into a polar orbit from Florida in late 2024, staying at an altitude of 425-450 kilometers for three to five days. Meanwhile, a16z-backed fintech Tally, which raised $172M in funding, is shutting down after running out of cash.
Tally, a fintech company that helped consumers manage and pay off credit card debt, has shut down after running out of cash. The company had raised $172 million in funding.
Tech Explained
AI – Artificial intelligence refers to the simulation of human intelligence processes by machines, especially computer systems. In the context of the news, AI companies are being sued for allegedly using copyrighted works to train their AI models.
VC – Venture capital is a type of private equity financing that investors provide to startup companies and small businesses that are believed to have long-term growth potential. Antler raised $72 million for its second Southeast Asia fund to invest in early-stage startups.
Fintech – Fintech refers to the use of technology to improve and automate financial services. Tally, a fintech company, helped consumers manage and pay off credit card debt before shutting down.
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