AI for landlords, Grok-2 unleashed, and the latest attempt at AI regulation | Equity Podcast

21 Aug 2024 (26 days ago)

Chinese Autonomous Vehicle Company Seeks US IPO

WeRide, a Chinese autonomous vehicle company, is seeking a US IPO at a $5 billion valuation and hoping to debut on the NASDAQ soon. (00:03:00)
WeRide is considered one of the leading autonomous vehicle companies in China and conducts testing in California.
Despite geopolitical tensions and risks, WeRide is still willing to enter the US market, highlighting the difficulties of raising money in China and the potential upside of the US market.

Elise AI, a company developing AI-powered property management tools for landlords, has raised $75 million in Series D funding.
The company claims its chatbot can enhance communication between landlords and tenants by facilitating apartment tour scheduling, handling maintenance requests, and streamlining rent payments.
Elise AI plans to expand its services into healthcare, aiming to assist clinics with administrative tasks such as appointment scheduling, billing, and payments. (00:11:05)
Healthcare organizations are increasingly using text messages to remind patients about payments and appointments.

Elon Musk's AI company, xAI, released Grok-2, a large language model that includes image generation capabilities provided by Black Forest labs.
Grok-2's image generation capabilities are largely uncensored, raising concerns about the potential for generating and spreading misinformation, especially during elections.

Tally, a fintech company focused on credit card debt management, has shut down after nine years in operation. The company, which had raised $172 million in funding and was valued near $855 million in 2022, cited an inability to secure further funding as the reason for closure. (00:19:50)
Tally's closure, despite its perceived noble mission of aiding individuals with debt, may be attributed to the challenging macroeconomic environment, including high interest rates and increased delinquencies.
The closure of Tally follows a pattern of shutdowns observed in various sectors, including transportation, where companies that engaged in rapid hiring and overspending during the economic boom of 2021-2022 are now facing the consequences.

Score was a dating app that matched people based on their credit scores. The app was initially intended to be short-lived, but its popularity led to it operating for six months.
Score had 18,000 users and facilitated 8,000 matches before shutting down. The app's parent company, Neon Money Club, is open to acquisition offers.

California's proposed AI bill, sb147, aims to regulate AI models costing over $100 million to develop and necessitate safety testing for these models.
Foundation models are expensive, large-scale models developed by major companies.
One argument against regulating these models is the potential negative impact on startups, but this argument is countered by the assertion that companies capable of developing such models have the resources to comply with regulations.
California State Senator Scott Wiener, who proposed the bill, believes in proactive regulation to prevent potential harm from AI technologies.