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🌟 Highlights from the Milken Institute Global Conference and Anticipated LA Tech Gatherings

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

🌟 Highlights from the Milken Institute Global Conference and Anticipated LA Tech Gatherings
Image Source: Milken Institute

Last week’s Milken Institute Global Conference, held at the Beverly Hilton in Beverly Hills, focused on “Shaping a Shared Future,” addressing major issues and the role of technology in solving challenges such as climate change. A significant theme throughout the event was the impact of artificial intelligence (AI), particularly its potential to transform industries by automating tasks that do not add real value, thus allowing individuals to focus on higher-level activities. Panels and discussions highlighted how AI is already being utilized in various sectors, including asset management, customer service, and medicine development, with contributions from notable figures such as executives from OpenAI and Elon Musk.

The conference, attracting thousands of professionals, was the largest since returning to in-person events post-pandemic. High-profile attendees included Elon Musk, who spoke to a packed auditorium and attended exclusive gatherings with investment heavyweights like Goldman Sachs CEO David Solomon, CEO of Eldridge Industries Todd Boehly, and former Treasury Secretary Steven Mnuchin. Events hosted by celebrities such as Ashton Kutcher and Leonard Green founder Jonathan Sokoloff, featuring David Beckham, highlighted the conference's prestige. Delegates sought partnerships and funding, predicting a dealmaking resurgence in 2024 and 2025. The event also saw increased participation from Middle Eastern investors and cautious discussions about opportunities in China, underscoring its global significance and dynamic networking environment.

Despite its reputation for Hollywood glamor and an unmatched sound bath per capita ratio, Los Angeles ranks 5th for tech community in Cloudwards' list of top tech cities in the US, highlighting a vibrant tech scene that should not be underestimated. This ranking reflects the number of tech events and conferences the city hosts, including the annual Milken Institute Global Conference discussed above. Looking ahead, here are some other significant LA tech events to anticipate in the next couple of weeks.

🗓️ Upcoming LA Tech Events

Monday, May 20, 2024

Nucleate Los Angeles: Demo Day 2024 - Join Nucleate for their annual showcase of their 2024 Activator Cohort for all biotech enthusiasts from the student to industry levels. Seven teams spanning across the greater LA area will present their startup decks to a live audience, including a panel of VC judges. Food will be provided to attendants and an open networking session will follow the presentations.

Tuesday, May 21, 2024

BUILDFest LA 2024 - Check out #BUILDFest LA 2024 on Tuesday, May 21, at Loyola Marymount to support the next generation of innovative and resilient youth through entrepreneurship! Three local high school finalist teams will present their business solutions to judges and BUILD community members, competing for cash prizes and bragging rights. The event features a fantastic panel of community and business leaders, including Principal Amen Rahh, AnnMaria De Mars, Mark Genovese, Tony Safoian, and Shannon Willet. Join and celebrate a quarter century of impact and witness the brilliance of today's student entrepreneurs as they shape the future.


First Look SoCal Innovation Showcase 2024 - The First Look SoCal Innovation Showcase is an annual celebration of the best early-stage teams commercializing deep tech and life science breakthroughs from the top research institutions in Southern California. This is the premiere gathering that celebrates research-based spinouts and connects them with top-tier investors and successful serial entrepreneurs with expertise to help them leap from the lab to market. This event will feature a pair of keynote presentations followed by a full program of 24 quick-pitch presentations with investor-led Q&A. Stay for the networking reception to (re)connect with the community!

Wednesday, May 22, 2024

AWS Summit - Hosted by Amazon, AWS Summit Los Angeles 2024 will be an action-packed day where the latest in cloud innovation comes to life. Explore how cutting-edge technologies, from generative AI to analytics, are revolutionizing industries and empowering businesses to lead in the digital era.

Thursday, May 23, 2024

Browsertech LA - Hosted by Upfront Partner Kevin Zhang, and Jamsocket co-founder Paul Butler, join them in Santa Monica, for an evening dedicated to exploring modern browser technology with plenty of chances to network and connect with industry peers. There will be lightning talks that will delve into topics like WebAssembly, WebRTC, WebGL, WebGPU, WebSockets, WebCodecs, WebTransport, and everything in between, followed by a sunset happy hour.

Thursday, June 6, 2024 - Sunday, June 9, 2024

Cine Gear Expo LA - Cine Gear Expo, debuting in 1996, has become the premier event for the technology, entertainment, and media sectors, annually attracting over 16,000 professionals from 60+ countries to Hollywood, California. Known for its unique approach, the expo offers a platform for exploring content capture hardware, workflow software, support equipment, and cutting-edge production services. Attendees benefit from hands-on training, insights from global technology leaders, and networking opportunities in a professional studio setting. The four-day event includes exhibits, seminars, a film festival, new product announcements, technical awards, and special screenings. The 2023 edition drew over 12,600 attendees, 260 exhibitors, and 20+ seminars, with expectations for further growth in 2024, solidifying its role as an industry cornerstone.

Tuesday, June 18, 2024 - Thursday, June 20, 2024

Augmented World Expo (AWE) - AWE is the world's largest spatial computing event and is the place to be for all things augmented reality, virtual reality, and XR community. This year, AWE is located in Long Beach and is celebrating its 15th anniversary. At this event you can try the latest spatial computing tech from 350+ exhibitors, learn from hundreds of spatial computing product leaders, and network with more than 6,500 spatial peers.

Have an awesome event coming up? Reach out to be featured on next week’s Newsletter!

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los angeles tech news

From Pitch Meetings to Power Lunches: LA’s Exclusive Membership Clubs 🗝️

Chris Casacchia
From Pitch Meetings to Power Lunches: LA’s Exclusive Membership Clubs 🗝️

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Summer's here, so it's time to zhuzh up your work environment. Discovering the best membership and social clubs in Los Angeles for meetings can boost networking and collaboration, offering exclusive venues and premium amenities tailored for professionals and creatives to thrive amidst the city's vibrant backdrop. These clubs provide a sophisticated setting for productive gatherings and meaningful connections in LA. Here are some top private member clubs perfect for meetings and productive work sessions.

The Jonathan Club

Club Details: The Jonathan Club, one of Los Angeles' original membership clubs, has been a cornerstone of the city's elite social scene since its founding in the mid-1890s. Its legacy is intertwined with the growth and development of LA itself, most notably through a pivotal meeting held at the club that sparked the idea for a southern campus of the University of California—what would eventually become UCLA. Today, the Jonathan Club continues to offer its members an unparalleled experience of exclusivity and refinement. With locations in both DLTA and Santa Monica, members enjoy access to premium amenities and spaces and a calendar with hundreds of social events and workshops throughout the year, providing ample opportunities for networking, personal growth, and leisure activities.

Membership Details: Initiation fee is around $50,000, and admission typically requires that you be invited or know someone who is already a member.

Spring Place

Image Source: Spring Place

Neighborhood: Beverly Hills

Club Details: A mix between co-working space and social club, this Beverly Hills hotspot is a more exclusive version of similar clubs. Spring Place Beverly Hills spans three floors and offers a stunning art collection. The interior is filled with tons of natural light and has an intentional design that fuels members to harness some of their best work. Members also have access to luxurious dining and nightlife pop-ups that happen at Spring Place.

Membership Details: There is a non-refundable initiation fee of $500 and then local membership for people under 30 starts at $300 per month, while monthly membership for locals over 30 is $600.

Griffin Club

Image Source: Griffin Club

Neighborhood: Cheviot Hills

Club Details: Located in Cheviot Hills, Griffin Club LA is a sporty club with ample shared workspace. Following a $20M renovation in 2020, the club now boasts seven LED-lit tennis courts, four LED-lit pickleball courts, two recreational lap pools, a 25-meter family pool for kids, an adults-only resort pool, and childcare services. It's the ideal destination for a clientele looking to mix work with competitive sport.

Membership Details: Membership is by invitation only and is subject to approval. Membership prices at the club vary. A family membership entails a $12,000 initial fee plus a $450 monthly fee, while a junior membership only entails a $2,000 initiation fee and a $205 monthly fee.

Soho House West Hollywood

Image Source: Soho House West Hollywood

Neighborhood: West Hollywood

Club Details: Soho House West Hollywood provides a stylish and exclusive work and meeting destination, featuring chic meeting rooms and workspaces with panoramic views of Los Angeles. Combining luxury amenities with a creative atmosphere, it offers an ideal setting for networking, collaboration, productive sessions, and an amazing Sunday brunch!

Membership Details: Two current member referrals are needed, plus an online application, and a recent photo to confirm your identity. Quarterly memberships start at $675.25, but if you’re under 27, you can pay $337.75 quarterly. However, if you want access to every house, membership costs $5,250.00 annually, or $2,650.00 if you’re under 27.

Little Beach House Malibu

Image Source: Little Beach House Malibu

Neighborhood: Malibu

Club Details: The Little Beach House Malibu is a small, local club for the creative community of Malibu and the surrounding coastal areas. The club is known for its magnificent dining room, bar, sitting room and terrace. It is the perfect place for a truly memorable work meal.

Membership Details: Malibu Beach House is not included in the Soho House membership. If you are an existing member, you can apply for “Malibu Plus” for an additional $2,190 a year, or $1,095 if you’re under 27.

San Vicente Bungalows

Image Source: San Vicente Bungalows

Neighborhood: West Hollywood

Club Details: San Vicente Bungalows is an exclusive, members-only social club located in West Hollywood, California, offering a luxurious and private environment for its high-profile clientele. The club is renowned for its strict privacy policies, elegant decor, and high-end amenities, catering to celebrities (and royals) and industry elites seeking a discreet space to unwind and socialize.

Membership Details: You must be nominated by a current club member to apply. Applications are evaluated monthly and annual dues start at $4,200 plus a $1,800 initiation fee.

The Aster

Image Source: The Aster

Neighborhood: Hollywood

Club Details: The Aster, located at the iconic intersection of Hollywood Boulevard and Vine Street, redefines the modern members' club with its emphasis on warmth and hospitality, blending public hotel amenities with private club exclusivity. Featuring bright, airy spaces and top-notch facilities such as an outdoor pool, recording studio, and rooftop bar, it offers a fluid environment for work, relaxation, and socializing.

Membership Details: Memberships start at $3,600 per year and be acquired by filling out an application. In addition to uploading a photo, hopeful members also have to write a small bio while highlighting their interests, skills, profession, and hobbies.

NeueHouse

Image Source: NeueHouse

Neighborhood: Venice/Hollywood/DTLA

Club Details: NeueHouse in LA is a chic private workspace and cultural hub designed for creative professionals, offering sophisticated workspaces, a dynamic calendar of cultural programming, and luxurious amenities. Situated in three bustling neighborhoods across LA, it provides a collaborative environment where members can work, network, and unwind in style.

Membership Details: You have to apply for the Salon membership, which includes questions like “dream dinner guests (dead or alive?)." Annual dues for Salon memberships are $3,000 plus a $200 joining fee. You can also inquire about the Gallery membership for flexible workspaces and offices for individuals or teams, starting at $595 per month, with various options depending on your needs.

los angeles tech news
artificial intelligence

🧬🔬AI-Driven Drug Discovery

Chris Casacchia
🧬🔬AI-Driven Drug Discovery

🔦 Spotlight

Terray Therapeutics is at the forefront of AI-assisted drug discovery and development, operating a cutting-edge laboratory in Monrovia, California. The facility, roughly two-thirds the size of a football field, functions as a data powerhouse, generating over 50 terabytes of raw data daily, which is an amount of information equivalent to 12,000 high definition movies, through its miniaturized automation processes.

Terray Therapeutics exemplifies a new wave of innovative companies harnessing artificial intelligence to revolutionize drug discovery and development. The key to their approach lies in generating vast amounts of high-quality experimental data to train their AI systems. This data-driven strategy enables rapid experimentation and pattern recognition, allowing the AI to make informed predictions about potential treatments. Terray's generative AI can digitally design drug molecules, which are then synthesized and tested in their high-speed automated laboratory. The platform measures the interaction between these molecules and target proteins, with both successful and unsuccessful results feeding back into the AI system.

This iterative process creates a powerful feedback loop, continuously refining the AI's predictive capabilities and accelerating the drug discovery process. Terray's tNova platform integrates chemical experimentation and computation at an unprecedented scale, producing massive amounts of precise, purpose-built data that becomes increasingly valuable with each cycle of design and experimentation. This unique blend of experimentation and computation allows Terray to efficiently explore a vast molecular space, potentially solving complex problems in drug discovery faster and more effectively than traditional methods.

🤝 Venture Deals

LA Companies

  • Fuze Technology, a provider of rentable portable phone chargers, has raised a $11.5M Series A led by Beverly Pacific and joined by Palm Tree Crew, Bain Capital Ventures Scout Fund, Dream Ventures, Live Nation, ASM Global, SCIENCE Ventures, Haslem Sports Group, and Simon Ventures. - learn more
  • Stanly, a platform that offers fan-to-fan and artist-to-fan communication and commerce, raised an $8M Funding Round led by C Capital and joined by AppWorks, Goodwater, and Palm Drive Capital. - learn more
  • GrayMatter, an industrial robotics company, raised a $45M Series B led by Wellington Management and joined by NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, and Swift Ventures. - learn more

LA Venture Funds

LA Exits

  • Webtoon Entertainment, an online cartoon company based in LA carved out of South Korea's Naver, set IPO terms to 15m shares at $18-$21. It would have a $2.6b fully diluted market value, were it to price in the middle, and plans to list on the Nasdaq (WBTN). - learn more
  • EV maker Fisker has finally filed for bankruptcy. - learn more
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artificial intelligence
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Sony Pictures Experiences Division Formed After Alamo Drafthouse Acquisition

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Sony Pictures Experiences Division Formed After Alamo Drafthouse Acquisition

🔦 Spotlight

Sony Pictures Entertainment has acquired Alamo Drafthouse Cinema in a groundbreaking deal that marks the first time in over 75 years a major Hollywood studio will own a movie theater chain. This acquisition signals a potential shift towards vertical integration in the film industry, with Sony gaining more control over the distribution and exhibition of its films.

The deal allows Sony to expand its presence in experiential entertainment, aligning with its vision of engaging audiences outside the home through unique offerings. Alamo Drafthouse's innovative dine-in movie experience, devoted fanbase, and curated programming like Fantastic Fest make it an appealing acquisition target. Sony stressed that Alamo will continue operating its 35 locations under CEO Michael Kustermann, who will head the new Sony Pictures Experiences division.

While the move provides financial backing for Alamo after its bankruptcy struggles, questions remain about whether the chain can maintain its independent spirit and personality under Sony's ownership. Alamo is renowned for creative programming like themed events, interactive screenings, and a strict no-talking policy that has cultivated a passionate community of moviegoers. Balancing this distinct identity with Sony's corporate interests will be a key challenge moving forward.

From a technological standpoint, this move opens up possibilities for Sony to enhance the moviegoing experience at Alamo Drafthouse locations through integration of advanced audiovisual systems, immersive technologies, and projection/sound solutions. In addition, Sony could create a more seamless and connected experience for moviegoers, such as through integrated ticketing platforms, mobile apps, and personalization driven by data analytics. While specific technological plans are not detailed, the combination of Sony's resources and Alamo Drafthouse's innovative approach could foster synergies and drive the development of new technologies to differentiate the theatrical experience further.

🤝 Venture Deals

LA Companies

  • Apex, a satellite bus maker, raised a $95M funding round co-led by XYZ VC and CRV joined by Upfront Ventures, 8VC, Toyota Ventures, Point72 Ventures and others. - learn more
  • Regard, a developer of AI tools to help medical providers synthesize patient data, raised a $30M Series B led by Oak HC/FT at a $350M valuation. - learn more
  • Daisy, a small business tech installation startup, raised an $11M Series A co-led by Goldcrest and Bungalow. - learn more
  • Pyte, a startup that allows companies in highly regulated industries like finance and healthcare to perform computations on encrypted data without ever decrypting it, raised a $5M Funding Round led by Myriad Venture Partners. - learn more

LA Venture Funds

LA Exits

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