OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in the AI and tech world. Let's dive into our first topic today.

Private markets have experienced significant growth, now boasting $10 trillion in assets under management. Despite this expansion, they have consistently underperformed public markets over the past decade. For instance, the S&P 500 has outpaced private equity by approximately 200 basis points, with returns of 15.3% compared to private equity’s 13.2%. This disparity in performance raises questions about the efficiency and robustness of private markets. The rise of artificial intelligence has led to a concentration of investments within these markets. Data indicates that excluding the five largest deals significantly reduces the overall deal value, suggesting an over-reliance on a few large transactions. This reliance has made private markets appear both concentrated and irrational at times. Additionally, there is a potential convergence or collision between public and private markets. If companies like SpaceX, Anthropic, and OpenAI go public simultaneously, it could strain financial resources and test the secondary market’s capabilities.

Moving on to venture capital and IPO activities, several companies have recently raised substantial funds. Noteworthy examples include Loop's $95 million in Series C funding for its AI platform focused on logistics and supply chains, Astelia's $35 million for cybersecurity solutions, and Zenskar's $15 million for AI-powered billing automation. On the IPO front, companies such as Kailera Therapeutics and Aevex have successfully raised significant amounts through public offerings.

Now, let's transition to another exciting development in the tech world. The upcoming Apple Worldwide Developers Conference in June 2026 is expected to showcase several significant advancements. These include the introduction of iOS 27, macOS 27, and a revamped Siri voice assistant. This new version of Siri is anticipated to be more chatbot-like due to a partnership with Google utilizing its Gemini AI models.

Meanwhile, Polymarket, a pioneer in prediction markets, is reportedly negotiating to raise $400 million, bringing its valuation to $15 billion. Despite this growth, it still lags behind its competitor Kalshi, which holds a $22 billion valuation and dominates the U.S. market with a 90% share. Both companies aim for mainstream acceptance by collaborating with financial data providers and media companies. Additionally, Kalshi's impending Supreme Court case regarding its sports betting operations' legality could redefine gambling regulations.

In other tech updates, Vercel experienced a security breach through a compromised third-party AI tool named Context.ai. The sophisticated nature of this attack prompted Vercel to seek assistance from cybersecurity experts.

Shifting gears now, an insightful perspective is provided by John Chambers, former CEO of Cisco, who draws parallels between the current AI boom and the dot-com era. Chambers highlights that while both booms are characterized by rapid growth and technological advancements, the AI boom is moving at an unprecedented pace with greater potential impacts. He emphasizes that AI will drive productivity for decades but warns of inherent bubbles with big winners and catastrophic failures. He advises a diversified investment approach given the fast-paced changes in AI and expresses confidence in the U.S. and India as leaders in this domain.

To wrap up today's podcast with some lighter news: there's a surge in rare collectibles as status symbols among the ultra-wealthy, while parents are investing heavily in career coaching forSupport the show
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Good morning from OWITH.ai: the podcast that gives you only what's important to hear in the AI and tech world.

This week, significant discussions emerged around AI innovations, Amazon's strategic maneuvers with Globalstar satellites, and an insightful interview with Nico Rosberg. The dialogue on AI underscores the relevance of understanding zero marginal costs, highlighting that fixed costs like data centers and chips currently outweigh marginal costs such as electricity. The ongoing compute shortage redirects focus to opportunity costs, challenging companies like OpenAI.

Transitioning smoothly to Amazon's strategic moves, the $11.8 billion acquisition of Globalstar satellites is analyzed as a potential attempt to compete with Starlink. This deal may involve Apple, adding layers to Amazon's satellite investment strategy, which is further explored in the Sharp Tech segment.

In this week's Stratechery Interview, Nico Rosberg shares his journey from Formula 1 world champion to venture capitalist, focusing on mental resilience and strategic thinking.

Shifting focus, Ethan Ding, co-founder and CEO of TextQL, recently discussed AI's transformative role in enterprise data analytics. TextQL aims to replace traditional data analytics methods with an efficient AI interface using plain language. The startup has secured $17 million from Blackstone Innovations Investments amid competition concerns from large AI labs like Anthropic. Despite potential challenges from big players once substantial revenue milestones are reached, Ding plans to focus on niche markets such as financial services and healthcare. John Stecher from Blackstone supports this focus, emphasizing the complexity of internal company data that requires specialized AI solutions.

In corporate news, Reed Hastings has announced his decision to step down from the Netflix board in June 2026. After launching Netflix in 1997 and serving as CEO until 2023, Hastings plans to pursue philanthropy while remaining the company's largest individual shareholder. The announcement aligns with Netflix's Q1 earnings report that exceeded revenue expectations but fell short on Q2 earnings per share forecasts following its withdrawal from an $83 billion deal with Warner Bros Discovery.

Meanwhile, the U.S. government is preparing federal agencies for the use of Anthropics' Mythos AI model due to its cybersecurity capabilities. Meta has increased prices for its Quest 3 VR headsets amid global memory shortages driven by AI infrastructure demands.

Turning now to financial insights, Wall Street's first wave of bank earnings reports highlights "resilience" as a central theme. Executives from JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo underscore their companies' ability to navigate economic challenges such as rising oil prices. Despite market volatility benefiting trading revenue and bonuses, banks remain confident in managing private credit market exposure.

Amid these updates, over 250 experts call for a five-year moratorium on generative AI products in schools due to concerns over their unproven efficacy. In global markets, S&P 500 futures see slight rises while Asian markets decline. Bitcoin continues its upward trend toward $76,000.

In software engineering transformations driven by AI, teams are evolving significantly with coding agents expediting product development processes. This shift requires engineers to assume broader roles beyond coding while product managers engage more in software development tasks. Meta's introduction of Muse Spark, a multimodal reasoning model developed under its Superintelligence Labs, marks a strategic pivot focusing on multimodal perception and health rSupport the show
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Each Saturday we take the headlines of daily podcast and ask ChatGPT to create a Sci-Fi story inspired by the news. The outcome for this week is this short story.Support the show
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Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.

The rise of anti-AI sentiment has escalated into violence, as recent attacks on OpenAI CEO Sam Altman highlight growing public backlash against artificial intelligence. This negative sentiment has been building due to concerns over AI's environmental impact, job automation, and its use in warfare. A significant portion of the population fears the psychological harm and addiction potential linked to AI, reminiscent of the social media era. The attacks on Altman are partly attributed to "AI doomers" who view AI as an existential threat. However, a broader societal discontent exists, fueled by tech executives' messaging that emphasizes AI's potential dangers, including mass unemployment and even human extinction. This rhetoric, while effective in marketing terms, has contributed to public distrust. Polls indicate a decline in AI's popularity, especially among younger generations facing a challenging job market. The technology is often blamed for diminishing entry-level opportunities, although it's debated whether AI is the primary cause or merely a scapegoat for broader economic issues.

Environmental concerns also play a significant role in anti-AI sentiment. Local communities have opposed data center projects due to their impact on energy grids, water supplies, and pollution. Legislative actions, such as New York State's proposed moratorium on new data center permits, reflect this growing concern. The AI industry faces an image problem, with insiders acknowledging that while AI is becoming ubiquitous, its perceived benefits to everyday life remain limited. People understand AI's utility in mundane tasks but are less aware of its potential in areas like drug discovery and climate modeling.

Transitioning now to the world of cryptocurrencies... Top crypto venture capitalists like Paradigm and Andreessen Horowitz’s a16z have been navigating the ups and downs of the digital asset market, but recent downturns have significantly affected their portfolio values. The collapse of the crypto market in 2025 saw major players like Paradigm and Pantera Capital experiencing a shrinkage in assets under management. This information comes from previously unreported filings obtained from the Securities and Exchange Commission. Despite the volatile nature of cryptocurrencies, which can spike with influential tweets from figures like Elon Musk or Donald Trump, these veteran crypto VCs have experienced both bear and bull markets. They saw their holdings increase during the NFT hype cycle of 2021, only to face declines during subsequent market downturns. However, short-term changes in portfolio value are not generally indicative of a fund's performance, as VCs are evaluated mainly on their ability to exit companies and return capital to investors.

Let's now shift our focus to developments in tech and entertainment... A New York jury has declared that Live Nation and its subsidiary Ticketmaster have illegally monopolized the U.S. live event market. The jury found that Live Nation holds monopolies for ticketing at over 200 major venues and unlawfully tied the use of its amphitheaters to its promotional services. While the court has not yet determined penalties, the potential consequences could include forced sales or additional legal action from states.

In another major story, Snap Inc., the company behind Snapchat, is set to lay off 1,000 employees, approximately 16% of its workforce. This move follows pressure from activist investors like Irenic Capital Management to streamline operations and enhance profitability amid competition from larger rivSupport the show
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Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.

Hyfix Spatial Intelligence, a Santa Clara-based startup, has secured $15 million in seed funding for a novel system-on-a-chip designed for drones and robots. This innovation is set to replace the current array of electronics with a single chip that integrates flight control, high-precision positioning, secure communications, and onboard computing. The funding round was led by Craft Ventures with contributions from Catapult Ventures, Multicoin Capital, Finality Capital, and the hard-tech investor Sky Dayton. This development follows the U.S. Federal Communications Commission's decision in late 2025 to block approvals and imports of certain Chinese-made drones and radio frequency gear. The regulatory shift has led to an increased demand for domestic alternatives, as DJI currently holds an 80% share of the global civilian drone market. The innovative chip is designed to maintain functionality even in environments where GPS signals are jammed or spoofed. It leverages a decentralized network of approximately 21,000 ground reference stations from CEO Mike Horton's other project, Geodnet, alongside low earth orbit satellites for more accurate positioning than traditional GPS systems. Hyfix's founders bring significant expertise to the venture: Horton has a background in autonomous systems, while co-founder Udan Ercan specializes in global navigation satellite systems. The newly acquired funding will be used to finalize the chip design and begin shipping production-ready chips to select partners this year. Furthermore, Hyfix is working on developing a sub-250-gram reference drone to highlight their platform's capabilities. Craft Ventures partner Jeff Fluhr notes that Hyfix addresses a critical need for custom silicon, contributing to an American supply chain for drones that does not rely on foreign technology stacks. It is anticipated that Hyfix will broaden its chip offerings across various drone categories within the next two years and eventually power a wide range of autonomous machines.

Amazon has announced its acquisition of satellite operator Globalstar for $11.6 billion. This acquisition aims to bolster Amazon's Low Earth Orbit satellite services as part of its strategy to compete with SpaceX's Starlink, enabling smartphone users to stay connected beyond terrestrial cellular networks. With this move, Amazon intends to significantly increase its satellite count by 2029 but is faced with challenges related to rocket launches due to the slower progress of its space venture, Blue Origin.

Meta and Broadcom have expanded their partnership to co-develop Meta's custom AI chips known as Meta Training and Inference Accelerators. This initiative is part of Meta's broader strategy to reduce dependence on Nvidia and AMD by creating proprietary silicon solutions. The collaboration is set to deploy significant power capacity initially with plans for further increases in the future. As a result of this announcement, Broadcom's stock saw a 3% rise while Meta's remained stable.

Global smartphone shipments have experienced a decline for the first time since 2023 due to a global memory chip shortage. This shortage has led to reduced shipments and higher prices, compounded by geopolitical tensions such as the conflict in Iran and U.S.-China trade issues. Despite these challenges, companies like Samsung and Apple have managed modest growth thanks to their premium product offerings.

At Dow, Karen Carter is set to become CEO on July 1, succeeding Jim Fitterling who will remain as executive chair. This change underscores the importance of a well-pSupport the show
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