Michael Gilroy, a general partner at Coatue Management who co-led its growth team and focused on fintech companies, is leaving the firm. Coatue Management, a hedge and venture fund based in New York, did not comment on his departure. Gilroy was involved in the firm’s investments in startups such as Mercury and Melio Payments.

Sequoia Capital has strengthened its influence at Stripe by adding partner Luciana Lixandru to the board, coinciding with Michael Moritz's departure. Additionally, Sequoia Heritage has placed partner Kevin Kelly on the board, marking a strategic move for Sequoia during a pivotal period.

Vast Data, an AI software and storage startup, raised a new funding round led by Fidelity Investments, with participation from NEA and Bond, valuing the company at over $9 billion. This is a significant increase from its $3.7 billion valuation in 2021. The company plans to use the funds to buy back stock from existing shareholders at a price implying a lower valuation than the $9 billion from the funding round.

Sam Altman, OpenAI's ousted CEO, was considering a return to the company amid employee support and pressure from major investors on the board to reverse his ousting. His return would necessitate a replacement of the board members. Altman was also contemplating starting a new venture. Employees and investors, including Tiger Global, rallied in support of Altman, while Sequoia Capital engaged with both Altman and Microsoft, OpenAI's largest backer, to facilitate his return.

OpenAI's planned employee share sale, valuing the company at approximately $86 billion, is uncertain following the unexpected dismissal of CEO Sam Altman and subsequent resignations, including President Greg Brockman. The tender offer, led by Thrive Capital, is in jeopardy, potentially affecting the valuation and completion timeline.

Coatue Management has raised $1.4 billion for a companion fund to its $7.7 billion VC growth fund, offering no management fees to existing investors. This strategy, reminiscent of tactics used during the dot-com bust, reflects how venture capital firms are adapting to a challenging market, with firms like Khosla Ventures, Greylock, and Lux Capital also raising billion-dollar funds despite industry headwinds.

Google pays Apple 36% of the revenue generated from Google Search ads on Apple’s Safari web browser, as reported by Bloomberg. This information was disclosed by University of Chicago economist Kevin Murphy during his testimony in the Department of Justice’s antitrust case against Google.

In 2023, startups faced a challenging environment with widespread layoffs, down rounds, and selective venture capital support, leading to a pivot away from previously favored sectors like fintech, cryptocurrency, and the creator economy. The collapse of Silicon Valley Bank caused a brief panic. However, artificial intelligence startups, such as OpenAI and Anthropic, thrived with substantial investments from venture capitalists and tech giants like Microsoft, Amazon, and Google.

Sam Altman, CEO of OpenAI, is investing in AI hardware startups like Humane, which is set to unveil its wearable Ai Pin, and Rewind, which produces an AI-powered sound-recording pendant. The article discusses the potential for these devices to change technology, drawing parallels to the movie 'Her' and questioning whether society is ready for such intimate technology. It also touches on the slowdown of investments by Andreessen Horowitz, the use of continuous glucose monitoring devices, and the success of the Spider-Man 2 game. Additionally, it mentions the fast-fashion company Cider's new pop-up shop in SoHo and Shein's partnership with Forever 21.

Sam Bankman-Fried, the former CEO of FTX, began testifying in his trial on fraud charges, following testimonies against him from his inner circle at FTX and Alameda Research. Facing up to 110 years in prison, his testimony may be his only chance at acquittal from the seven charges.