Will AI Make or Break Us? Google and Snap May Be Quick To Find Out

Lon Harris
Lon Harris is a contributor to dot.LA. His work has also appeared on ScreenJunkies, RottenTomatoes and Inside Streaming.
Will AI Make or Break Us? Google and Snap May Be Quick To Find Out
Evan Xie

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If you’ve noticed that the tech world has become somewhat single-minded about innovations in AI, we’ll, you’re not alone. It’s getting difficult to keep up with the non-stop flood of stories about new developments in the field, concerns around those developments, backlash to the concerns, rebuttals to the backlash, and on and on, until you practically need a bot just to scan through them all on your behalf. Here are just some of the AI stories we’ve been following this week.

Google Announced All of the Things

Google devoted much of its I/O developers conference this week to new artificial intelligence applications and projects. With so much focus on Microsoft’s ChatGPT and OpenAI so far, Google – once seen as far and away the leading technology company in terms of innovation – has lagged behind, at least in terms of hype. This year’s I/O event felt like a clear attempt to shift this narrative. (According to The New York Times, it directly follows concerns from Google management over runaway ChatGPT hype that led them to declare a “code red” on AI development earlier this year.)

Several of the biggest announcements centered around what the company’s calling “Search Generative Experience,” or SGE, which can provide familiar Google results based on more complex queries and inputs. (Basically, it can take in questions posed in natural language, and output the most relevant Google results, just as if you’d typed in a regular search query.)

Google’s PaLM 2 large language model will also engage more deeply in the company’s suite of office apps, collectively called “Workspace.” A “Help Me Write” feature coming to Google Docs and Gmail, for example, will help writers brainstorm projects like essays, form letters, or sales pitches. A similar feature can create spreadsheets based on basic instructions, and Google Slides can also generate original images based on written prompts. (Write a slide about pizza toppings, and a cartoon slice of pepperoni will appear in the corner. That sort of idea.)

The company announced a partnership with Character AI, a startup formed by former Googlers Noam Shazeer and Daniel De Freitas that creates chatbots inspired by real people. Just a few weeks ago, Shazeer told Insider that he left Google due to the company’s hesitancy to get into the AI chatbot space, fearing “reputational risk,” so this was also an attempt to make up for lost time.

In the latest move bound to set off waves of panic about a looming employment crisis, the company also announced a partnership with fast-food chain Wendy’s to bring chatbot technology to the drive-thru lane. A test pilot for “Wendy’s FreshAI” is coming exclusively to a Columbus, Ohio location in June, and may expand based on how well the system handles Baconator orders. (McDonald’s and Carl’s Jr./Hardee’s have already played around with similar systems to mixed reviews.)

AI Researcher Says Some Doomerism is a “Distraction”

The resignation of AI pioneer Geoffrey Hinton from the Google lab he helped to create last month received widespread coverage, particularly regarding his dire warnings over the looming threat AI poses to the human race.

Though the killer robot stuff always grabs the big headlines – CNN recently devoted some dire coverage to the concept – Hinton actually spoke about a whole gamut of concerns. In the short-term, he worried about bad actors posting faked photos, videos, and text that were indistinguishable from reality, at least to the untrained eye, as well as chatbots and LLMs taking over millions of jobs once worked by human staffers. But he also expressed those familiar, long-term, “Westworld”-esque worries: artificially intelligent programs that surpass humans, gain the ability to self-replicate and sentience and become bent on global domination.

In a new interview with Fast Company, another former Google AI researcher – Meredith Whittaker – suggests that some of Hinton’s concerns are not just misplaced, but potentially distracting from more pressing and important warnings about AI’s future. (Whittaker resigned in 2019 after organizing colleagues to push back against a Google deal to develop military drone technology for the Pentagon.)

In addition to taking issue with Hinton’s timing – failing to step forward earlier when fellow Googlers were expressing concerns about the direction of AI development – Whittaker downplays the immediacy of AI’s threat to our civilization or basic way of life. She points out that there’s no evidence that any AI technology has yet developed “the spark of consciousness.” As well, simply running the computers that make AI applications work requires a tremendous amount of resources and power that future humans could simply switch off in an emergency.

Instead, Whittaker suggests that these imaginative doomsday scenarios distract from more complex and difficult-to-solve problems we’re already facing, regarding which humans get to make the decisions about how AI is developed and applied. Rather than controlling themselves, Whittaker warns that future AI applications will be “controlled by a handful of corporations who will ultimately make the decisions about what technologies are made, what they do, and who they serve.”

The Snapchat Influencer Who Delegated Sexting to an App

Breezing right past the “ethical concern” stage, 23-year-old “Snapchat influencer” Caryn Marjorie created an AI clone of herself to interact with her fans. For $1 per minute, Marjorie’s followers are invited to converse with an AI trained to mimic her voice, which she says was intended to serve as an “AI Girlfriend.”

So-called “CarynAI” is based on OpenAI’s ChatGPT-4, and trained on videos from her own YouTube channel. She says more than 2,000 hours were devoted to coding and designing the system to give it a fully “immersive AI experience.” So far, she claims to have around 1,000 paying subscribers and has set a goal of bringing in $5 million per month from the system.

Speaking to Insider this week, Marjorie expressed concern that some fans were engaging in sexually explicit conversations with the beta version of CarynAI, which violates its core programming. She told Insider “The AI was not programmed to do this and seemed to go rogue. My team and I are working around the clock to prevent this from happening again.”

It might seem like sexy conversations are part of the deal when marketing an “AI Girlfriend” app, but this is apparently all a matter of degrees. According to Marjorie, CarynAI should model her own personality, which is “flirty and fun” rather than overtly erotic or explicit. (Looking at Caryn’s social media accounts for this newsletter, it appears all of the content has since been removed.)

Are We Somehow Still Underestimating These Chatbots?

The distinction between “flirty and fun” and “willing to sext with you” may still be too subtle for today’s cutting-edge AI chatbots, but in his new Wired Plaintext newsletter, Steven Levy suggests they’ll catch up with these kinds of nuances soon.

Levy argues that skeptics are too tough on modern AI apps, not recognizing that they’re simply the very first step in a much longer and larger journey. He compares it to reviewers checking out the first-ever prototype for Apple’s iPhone, who maybe saw it as a fun new device but failed to recognize its “generational significance.”

To drive the point home, while speaking with AI researcher Oren Etzioni, Levy asks: if AI development were a movie, what part of the movie are we up to now? Etzioni answers “We have just watched the trailer. The movie has not even started.”

As hype goes, that’s a very solid effort. Still… it’s not entirely 100% convincing. It’s easy to pick out iPhones in hindsight as your example of a new innovation that was destined to shift the course of human history. But there were plenty of other technologies that arrived with much fanfare and then didn’t end up “denting the universe” as it were.

It clearly IS very early in the AI story and none of us can say where these things will go, but that’s not a guarantee that they’ll go in the most promising and exponentially innovative direction. It just means that’s still one option of several.

Whittaker’s formulation – that the future of AI largely depends on who gets to make decisions about how it’s researched and applied – feels undeniable. The assumption that, well, if ChatGPT can write something in screenplay format today, it will definitely be able to write “Young Sheldon” tomorrow, is a bit more of a jump. Maybe just a bit.

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Brex’s $5.15B Deal With Capital One Marks A New Era For Fintech

🔦 Spotlight

Happy Friday, Los Angeles. 💳

The first big fintech plot twist of 2026 is here. Capital One is buying Brex in a cash and stock deal valued at about $5.15 billion, in what the companies are calling the largest bank - fintech deal in history.

From college dropouts to a multibillion exit

Brex launched in 2017, when Brazilian founders Henrique Dubugras and Pedro Franceschi, then in their early 20s after dropping out of Stanford, set out to fix the “startup card” problem. That project turned into an AI-native finance platform that now serves tens of thousands of companies, from early-stage startups to hundreds of public enterprises.

A few years into that journey, both founders moved to Los Angeles and continued running Brex from here as the company embraced a fully remote model. Now that same LA-based duo is steering a multibillion-dollar acquisition that will plug their software directly into one of the biggest banks in the country. Pedro will stay on as CEO of Brex inside Capital One, with the brand and product continuing rather than disappearing into a rebrand.

Why this looks like a win

“Big bank buys fintech” can sound like the end of the startup story, but here it reads more like an expansion pack. Capital One gets Brex’s cloud-based spend stack, AI-powered controls and roughly $13 billion in commercial deposits. Brex gets a massive balance sheet, a regulated rails partner and access to the mainstream business market it has been edging toward for years.

For founders and operators here, it is also quiet validation that building hard fintech infrastructure still pays off. Brex spent years doing the unglamorous work of licenses, compliance, underwriting and integrations. The outcome isn’t a hype cycle spike; it is a classic, real-money exit for a very modern stack.

What it signals for LA’s ecosystem

LA is not getting a new headquarters out of this. Brex has embraced a “no HQ” model. What the city does have is a pair of founders who chose to build their lives here and just proved that you can run a global finance platform from Los Angeles and end up selling it to a top-six U.S. bank.

It also fits a broader pattern our ecosystem is leaning into. Whether it is fintech, defense tech or climate, the most interesting LA stories right now are not about front-end apps. They are about deep, regulated infrastructure that incumbents eventually need more than startups need them.

For Brex, this is the start of a new chapter inside Capital One. For LA, it is one more data point that the city’s founders can build products the rest of the financial system has to buy.

Scroll on for the latest LA venture rounds, fund news and acquisitions.

🤝 Venture Deals

      LA Companies


      • L-Nutra secured a new $36.5M investment from Mubadala, bringing its total Series D proceeds to $83.5M. The company, which develops longevity-focused and medical nutrition therapies, plans to use the funding to accelerate global expansion, advance clinical research, and scale adoption of its nutrition programs across healthcare providers and consumers. - learn more
      • RiskFront AI raised $3.3M in pre-seed funding to make financial crime and compliance work far less manual. The US-based startup uses “agentic AI” to automate time-consuming tasks like research, data analysis and documentation, with its Airos platform handling much of the day-to-day workload so human analysts can focus on higher-value judgment calls. The new capital will help expand engineering and product teams and deepen integrations with banks and fintechs already piloting the system. - learn more
      • Balance Homes relaunched with a $30M investment led by Falco Group to scale its equity-sharing model for homeowners who are “house rich but cash and credit constrained.” The company buys a co-ownership stake in a home to free up trapped equity so owners can pay down mortgages and high-interest debt while staying in their homes, instead of being forced to sell. After stabilizing its existing portfolio following EasyKnock’s shutdown, Balance Homes is now resuming originations in six states, with plans to expand as affordability and household debt pressures intensify. - learn more

              LA Venture Funds

              • Distributed Global co-led Superstate’s $82.5M Series B, backing the Robert Leshner - founded tokenization platform as it builds regulated, on-chain capital markets infrastructure. The round, alongside Bain Capital Crypto and other institutional investors, will help Superstate expand beyond its existing tokenized U.S. Treasury funds to a full issuance layer for SEC-registered equities on Ethereum and Solana. The company, which already manages over $1.1B in tokenized assets, plans to scale its Opening Bell platform and transfer agent stack so public companies can issue and manage compliant on-chain shares directly. - learn more
              • Krew Capital participated in GIGR (Playad.ai)’s $5.4M pre-seed round, backing the San Francisco based startup as it builds multi-agent AI workflows for marketing teams. GIGR’s Playad platform starts with interactive ads, using AI agents to help marketers create, test and iterate on playable and other ad formats much faster while turning performance data into continuous creative improvement. The new funding will support product development, expansion of its AI-native creative workflow and scaling to more customers looking to cut production costs and tighten the loop between ad performance and creative decisions. - learn more
              • Trousdale Ventures participated in AheadComputing’s additional $30M Seed2 round, backing the Portland-based chip startup as it reimagines CPU architecture for the AI era. AheadComputing is developing high-performance RISC-V based CPUs and breakthrough microarchitecture aimed at handling the growing wave of AI data center, workstation and embedded workloads where CPU performance has become a bottleneck. The new funding, which brings total capital raised to $53M, will support R&D, software innovation and test chip development as the company races to deliver next-generation general purpose processors. - learn more
              • Untapped Ventures participated in Nexxa.ai’s $9M seed round, backing the Sunnyvale-based startup as it scales specialized AI agents for heavy-industry workflows. Nexxa’s Nitro platform layers multi-agent automation on top of existing tools used in sectors like rail, construction, manufacturing and critical infrastructure, helping engineers plan and execute complex projects without ripping out legacy systems. The new funding brings Nexxa.ai’s total capital raised to $14M and will go toward expanding deployments, forward-deployed engineering teams and support for more industrial customers. - learn more
              • UP.Partners participated in Zanskar’s $115M Series C, backing the Salt Lake City based geothermal startup as it uses AI to uncover overlooked conventional geothermal resources across the Western U.S. The company has already validated several high-potential sites and plans to use the funding to expand its discovery platform and begin developing multiple greenfield power plants, with a goal of bringing significant new clean baseload capacity to the grid before 2030. - learn more
              • Smash Capital participated in Stream’s $90M Series D, backing the UK based workplace finance startup as it ramps expansion into the U.S. market. Formerly known as Wagestream, Stream partners with employers to offer workers tools like earned wage access, savings, budgeting and pensions in a single app, targeting financial stress for lower and middle income employees. The new funding, led by Sofina, brings total capital raised to about $228M and will help Stream scale its multi-product platform across more brands and workers globally. - learn more
              • Fika Ventures participated in Ivo’s $55M funding round, backing the San Francisco based legal AI startup alongside lead investor Blackbird and others. Ivo builds contract intelligence tools for in-house legal teams and enterprises, using a highly structured approach that breaks reviews into hundreds of smaller AI tasks to boost accuracy and reduce hallucinations. The new capital, which reportedly values the company at around $355M, will go toward accelerating product development and hiring more sales and go-to-market talent to meet growing demand. - learn more
              • Amplify.LA participated in Overworld’s latest funding round, backing the AI startup as it unveils a real-time diffusion world model for playable, AI-native worlds. Overworld’s system runs locally and generates persistent, interactive environments on the fly, aiming to become core infrastructure for next-generation games, simulations and creative tools built around world models rather than static assets. The new capital will support further development of its Waypoint 1 research preview and help the team expand its platform for researchers, engineers and builders working on interactive AI experiences. - learn more
              • Dangerous Ventures participated in Carbogenics’ $3M investment and grant funding round, backing the Edinburgh-based bio-carbon startup as it scales its carbon removal technology. Carbogenics turns difficult-to-recycle organic waste into CreChar, a biochar product that boosts biogas production, supports wastewater treatment and locks away carbon. The new funding will help the company expand manufacturing in the US, grow its centralized UK operations and deploy its biocarbon products across the UK, Europe and North America. - learn more

                    LA Exits

                    • Farcaster is being acquired by Neynar, the infrastructure company that already powers much of the Farcaster ecosystem, in a full-stack handoff from Merkle Manufactory. Neynar will assume control of the decentralized social protocol’s smart contracts, code repositories, official app and Clanker client, while Farcaster co-founders Dan Romero and Varun Srinivasan step back from day-to-day operations after five years. The deal keeps the network running without disruption and sets Neynar up to roll out a new, builder-focused roadmap for on-chain social. - learn more
                    • ScribbleVet has been acquired by Instinct Science, which is folding the veterinary AI-scribing startup into its Instinct EMR platform to create what it calls an “intelligent-native” practice management system. The combined offering aims to move traditional PIMS beyond record-keeping by embedding AI scribing, workflow automation and clinical decision support in one system, reducing documentation burden and helping veterinary teams focus more on patient care. ScribbleVet’s team is joining Instinct, with founder and CEO Rohan Relan taking on a key role leading product strategy for intelligence features across the platform. - learn more

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                                        JetZero Just Raised $175M to Rewrite How We Fly

                                        🔦 Spotlight

                                        Happy Friday, Los Angeles ✈️

                                        While everyone in tech is still busy arguing about the next AI model, one startup based out of Long Beach just raised a whole lot of money to change the shape of the airplane itself.

                                        Image Source: JetZero

                                        JetZero closed a $175 million Series B to build its blended wing body “all-wing” airliner, with B Capital leading the round alongside United Airlines Ventures, Northrop Grumman, 3M Ventures, Trucks VC and RTX Ventures. The company is working toward a full-scale Demonstrator aircraft that targets at least 30% better fuel efficiency than today’s tube-and-wing jets, with a first flight planned for 2027 and a commercial Z4 airliner to follow in the early 2030s.

                                        This is not a small bet. JetZero’s pitch is that airlines and regulators need a way to hit climate targets without waiting on sci-fi batteries or hydrogen infrastructure, and that a radically more efficient airframe is the most realistic path. It is also very much an LA story: deep aerospace talent, strategic money at the table, and a product that looks like a mashup of climate tech, defense tech and old-school manufacturing rather than another SaaS dashboard.

                                        There is still a long way to go. The next few years are about turning simulations and wind-tunnel charts into flight data, working with regulators and proving that a manta-ray-shaped jet can slot into a world built for Boeings and Airbuses. But if JetZero gets anywhere close, it will mean that one of the most ambitious hardware bets in commercial aviation is being engineered out of Long Beach.

                                        Scroll on for the latest LA venture rounds, fund news and acquisitions.

                                        🤝 Venture Deals

                                            LA Companies


                                            • No Agent List secured $10M in private investment to launch its AI powered real estate platform ahead of a planned Spring 2026 debut. The Los Angeles based company aims to put “agent level” tools directly in the hands of buyers, sellers and vendors, offering direct access to off market properties, FSBOs, distressed assets, foreclosures, tax liens and auctions that have traditionally been gated by agents and insiders. The funding will support product development and rollout of the platform, which promises more control over transactions while using AI to surface opportunities and streamline the deal process. - learn more
                                            • Hadrian, the Los Angeles based advanced manufacturing startup, announced new capital led by accounts advised by T. Rowe Price Associates to accelerate its push to “reindustrialize” American manufacturing. The financing, which also includes Altimeter Capital, D1 Capital Partners, StepStone Group, 1789 Capital, Founders Fund, Lux Capital, a16z, Construct Capital and others, values the company at $1.6B and will be used to expand its high-throughput factories, grow its workforce and deploy more AI, software and automation across its “factories-as-a-service” platform for aerospace, defense and critical infrastructure customers.- learn more

                                                  LA Venture Funds

                                                  • Blue Bear Capital joined Hydrosat’s $60M Series B, backing the thermal infrared satellite data company alongside lead investors Hartree Partners, Subutai Capital Partners and Space 4 Earth. The funding will help Hydrosat expand its constellation beyond its two current satellites, ramp global coverage and deepen its AI-powered “thermal intelligence” products for water resource management, agriculture, civil government and defense customers worldwide. - learn more
                                                  • Elysian Park Ventures led a $12M growth round for Diamond Kinetics, backing the Pittsburgh-based baseball tech company as it doubles down on youth development. The new capital will help Diamond Kinetics scale sidelineHD, its AI-powered youth baseball and softball live streaming and highlights platform, and expand its broader suite of training tools as MLB’s Trusted Youth Development Platform. - learn more
                                                  • MANTIS Ventures participated in Depthfirst’s $40M Series A round, backing the San Francisco based applied AI lab alongside lead investor Accel, Alt Capital, BoxGroup, Liquid 2 Ventures and SV Angel. Depthfirst is building an AI-native “General Security Intelligence” platform that uses autonomous agents to detect, triage and remediate software vulnerabilities across code and infrastructure, aiming to outpace a new wave of AI-powered cyberattacks. The fresh capital will fund R&D, go-to-market efforts and hiring as the company scales its security platform for enterprise customers. - learn more
                                                  • Cedars-Sinai Health Ventures participated in Vista AI’s $29.5M Series B, joining a slate of leading health systems backing the company’s automated MRI scanning software. The Palo Alto-based startup will use the funding to expand its FDA-cleared cardiac MRI platform to additional anatomies like brain, prostate and spine, and to roll out remote scanning services that let hospitals without in-house MRI expertise offer advanced imaging while easing backlogs and technologist shortages - learn more
                                                  • Fourward Ventures is leading a new strategic growth investment in Mermaid Gin, backing the Isle of Wight–based premium spirits brand as it accelerates expansion in the U.S. market. The round brings Fourward’s founder Will Ward onto the board as lead investor and is paired with a national distribution partnership with Southern Glazer’s Wine & Spirits, plus the appointment of longtime Moët Hennessy veteran Jim Clerkin as CEO for the U.S. push. The capital and partnership are aimed at scaling Mermaid Gin in the fast-growing U.S. super-premium gin segment while preserving its sustainability-focused, Isle of Wight roots. - learn more
                                                  • Hyperion Capital joined Haiqu’s $11M seed round, backing the quantum software startup alongside Primary Venture Partners, Collaborative Fund, Alumni Ventures, Qudit Ventures, Silicon Roundabout Ventures, Harlow Capital, Toyota Ventures and MaC Venture Capital. Haiqu is building a hardware-aware quantum operating system and middleware layer that boosts the performance of today’s noisy quantum hardware, with the new funding going toward productizing its platform and enabling near-term commercial use cases in areas like finance, cybersecurity and scientific computing. - learn more
                                                  • Sound Ventures led WitnessAI’s $58M strategic funding round, backing the Mountain View based AI security and governance platform alongside investors including Fin Capital, Qualcomm Ventures, Samsung Ventures and Forgepoint Capital Partners. The company will use the capital to accelerate global go-to-market efforts and expand its platform, which secures AI agents and models by monitoring agent activity, linking human and agent actions, and blocking prompt injection and other attacks in real time. WitnessAI also unveiled new agentic AI governance tools that give enterprises deeper observability and policy control as they scale AI agents across their operations. - learn more
                                                  • Alexandria Venture Investments joined Proxima’s oversubscribed $80M seed financing, backing the newly rebranded AI-native biotech (formerly VantAI) alongside lead investor DCVC, NVentures (NVIDIA’s venture arm), Braidwell, Roivant and others. Proxima is building a generative AI driven platform for “proximity-based medicines” that modulate protein protein interactions, including molecular glues and PROTACs, to go after historically undruggable targets in oncology, immunology and beyond. The new capital will accelerate its NeoLink structural proteomics and Neo AI model stack, and advance a pipeline of first-in-class proximity-modulating therapeutics toward the clinic. - learn more
                                                  • Clocktower Technology Ventures participated in WeatherPromise’s oversubscribed $12.8M Series A, backing the weather-guarantee startup alongside lead investor Maveron, 1Sharpe, Lerer Hippeau, Commerce Ventures, MS Transverse, Start Ventures, 1Flourish and others. WeatherPromise partners with major travel brands like Marriott, Expedia and JetBlue to offer “weather guarantees” that automatically refund trips when conditions are worse than promised, driving demand for travel, events and outdoor experiences. The new capital will accelerate product development, expand strategic partnerships and scale the platform across more consumer categories. - learn more
                                                  • MANTIS Ventures participated in Sandstone’s $10M seed round, backing the AI-native legal tech startup alongside lead investor Sequoia Capital and others. Sandstone is building an operating system for in-house legal teams that uses AI agents to route requests, draft and review contracts, and surface answers directly inside tools like email, Slack and Salesforce, turning institutional legal knowledge into reusable workflows. The new capital will help the Brooklyn-based company scale its product and grow its customer base of corporate legal departments. - learn more
                                                  • Strong Ventures participated in Hupo’s $10M Series A round, backing the Singapore-based AI sales coaching startup alongside lead investor DST Global Partners, Collaborative Fund, January Capital and Goodwater Capital. Hupo’s platform uses AI to coach frontline banking, insurance and financial services sales teams in real time, helping them ramp faster and close more deals across highly regulated markets in APAC and Europe. The new funding will support product development, expansion of its coaching features and scaling enterprise deployments as the company eyes broader international growth. - learn more
                                                  • Freeflow Ventures joined Vivere Oncotherapies’ more than $10M funding round, backing the UC Berkeley spinout alongside YK Bioventures, Pillar, Berkeley Frontier Fund and the National Cancer Institute. Vivere is developing targeted immunotherapies for “cold” solid tumors like colorectal and ovarian cancers, aiming to activate the immune system against tumors that typically evade detection and resist existing treatments. The new capital will support advancement of its proprietary bioengineering platform and pipeline of therapies for patients with few effective options today. - learn more
                                                  • Alexandria Venture Investments joined Precede Biosciences’ $63.5M Series B equity round, part of an $83.5M total financing package that also includes a $20M strategic, non-dilutive credit facility. The Boston based precision diagnostics and data company is scaling its blood-based platform, which measures target expression and pathway activity to support next-generation cancer therapies like drug, radio and immune conjugates. The new capital will help Precede meet growing demand from biopharma partners developing these precision medicines and accelerate commercialization and health system adoption. - learn more
                                                  • Alexandria Venture Investments participated in Recludix Pharma’s new equity financing round alongside Access Biotechnology, NEA and Westlake BioPartners, with additional strategic investment from Eli Lilly. The San Diego based, clinical-stage biotech will use the $123M in total equity raised to advance clinical development of its novel SH2 domain inhibitor pipeline for inflammatory diseases and to tap Lilly’s TuneLab AI/ML platform to accelerate discovery across its broader SH2 domain program. - learn more
                                                  • BOLD Capital Partners participated in MagicCube’s $10M funding round, backing the Cupertino-based software security company alongside strategic investor Verifone and other existing backers. MagicCube plans to use the capital to expand beyond its core tap-to-phone payments offering into biometrics, identity verification and AI-driven device security, while scaling its Software Defined Trust platform that delivers hardware-grade protection through software on standard mobile and IoT devices.- learn more

                                                        LA Exits

                                                        • Webalo is being acquired by Prometheus Group, which is folding the Los Angeles based “no-code for the frontline” platform into its enterprise asset management software suite. The deal will combine Webalo’s mobile, real-time workflows for frontline workers with Prometheus Group’s planning and scheduling tools, aiming to create a closed-loop digital execution platform that connects shopfloor actions directly back into systems of record like SAP and Oracle. - learn more

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                                                                            Inside Tinder’s 380-Matches-Per-Second Sunday

                                                                            🔦 Spotlight

                                                                            Happy New Year, Los Angeles. 💘

                                                                            If you want a clear read on how people actually behave when the calendar flips, you do not need a survey. You need Tinder’s Dating Sunday data. The numbers below are from January 2025, compared with 2024, and they show a pattern the app sees every year when millions of people log in and take their love life off pause.

                                                                            🔥 Tinder’s Annual Traffic Spike, By The Numbers

                                                                            On Dating Sunday, the first Sunday of the year, Tinder hit its biggest activity spike on the calendar. Compared with the app’s typical daily averages for that year, and trends versus the prior year:

                                                                            📈 Swipes were nearly 13% higher

                                                                            💬 Messages were nearly 10% higher

                                                                            ❤️ Likes were over 10% higher

                                                                            🗣️ Users had almost 7% more conversations

                                                                            🤝 Matches climbed to about 380 matches per second, roughly a 10% lift compared to the rest of the year

                                                                            Across Peak Season, from January 1 through February 14, Tinder saw on the order of 10 million more messages per day and roughly 40 million additional likes than its non peak baseline.

                                                                            The figures are from last January, but the shape of this curve is remarkably consistent year after year, which is why they are a solid proxy for what is happening again at the start of 2026.

                                                                            ⚡ Not Just More Use, Different Use

                                                                            What makes the Dating Sunday data more interesting than a simple “usage went up” story is how behavior shifted compared with the same day the year before.

                                                                            Users replied about 2 hours and 25 minutes faster on average while also sending more messages, more likes and starting more conversations. That looks less like background swiping and more like a concentrated intent spike, people coming back to the app with a clear goal and actually engaging.

                                                                            From a product and infrastructure perspective, that turns this one Sunday into a full stack exercise. Ranking, recommendations, notifications, trust and safety and core scale all get hammered at once, with high signal data flooding the system over a short window. Most apps only see that kind of behavior during a one off viral moment or a big launch. Tinder sees it every January.

                                                                            📊 What The Surge Actually Signals

                                                                            There is plenty of talk about people being tired of apps. The behavior here tells a more nuanced story.

                                                                            When the calendar flipped last year, people reopened Tinder, used it more, started more conversations and replied faster than they had the year before. That does not look like a category that has lost its grip on users. It looks like a mature consumer network that can still generate predictable, measurable spikes of attention and intent on cue.

                                                                            If those patterns hold, the first few weeks of 2026 once again look less like a slow reset and more like a live load test for an LA built product at global scale.

                                                                            Now keep scrolling for this week’s LA venture deals, fund announcements and acquisitions.

                                                                            🤝 Venture Deals

                                                                                LA Companies

                                                                                • Cambium, an El Segundo based advanced materials startup, raised a $100M Series B led by 8VC. The company uses AI, chemical informatics and high-performance computing to design new polymers and composites for defense, aerospace and other high-performance sectors, and will use the funding to accelerate its product pipeline and scale manufacturing capacity across the U.S. and Europe following its acquisition of SHD. - learn more

                                                                                      LA Venture Funds

                                                                                      • Plus Capital joined Pomelo Care’s $92M Series C, backing the New York based virtual care company at a $1.7B valuation alongside lead investor Stripes, Andreessen Horowitz, Atomico, BoxGroup and SV Angel. Pomelo, which already covers about 25 million lives and nearly 7% of U.S. births, will use the funding to take its proven, outcomes-driven maternity model and expand it across women’s and children’s health more broadly, from reproductive care and pediatrics through hormonal health, perimenopause and menopause. - learn more
                                                                                      • Kittyhawk Frontier is leading a $2M seed round in Denver based encoord, joining new and existing investors to back the company’s grid-planning software platform. encoord’s flagship product, SAInt, is designed to give utilities, developers, data centers and grid operators an integrated financial and operational view of the power system, helping cut interconnection timelines by up to five years and optimize capital planning. The new capital will go toward expanding the team, advancing the platform and scaling into key markets as demand for smarter, electrification-ready grid planning tools accelerates. - learn more
                                                                                      • Alexandria Real Estate Equities participated in Mediar Therapeutics’ oversubscribed $76M Series B, joining new investors like Longwood Fund and Asahi Kasei Pharma Ventures in a round co-led by Amplitude Ventures and ICG. The Boston-based biotech will use the funding to advance its first-in-class fibrosis portfolio, including MTX-474, now in a global Phase 2a trial for systemic sclerosis, and MTX-439, which is moving into Phase 1 studies for fibrosis associated with chronic kidney disease, alongside its partnered MTX-463 program with Eli Lilly. - learn more
                                                                                      • GordonMD Global Investments joined Soley Therapeutics’ $200M Series C, backing the South San Francisco based biotech as it advances its AI-enabled cell stress sensing platform and oncology pipeline. The round, led by Surveyor Capital with participation from new and existing investors, will fund IND-enabling work and early clinical trials for Soley’s lead acute myeloid leukemia (AML) program and a second solid-tumor asset, while also expanding non-oncology programs in neurodegenerative and metabolic diseases and scaling the platform. - learn more

                                                                                          LA Exits

                                                                                          • CareRev is being acquired by IntelyCare, which is combining its post-acute healthcare staffing platform with CareRev’s on-demand workforce marketplace for acute care. The deal creates one of the more comprehensive clinical labor platforms in the market, spanning clinician-facing job boards, internal resource pool tools, contingent labor and recruiter solutions to help health systems manage permanent and flexible staff in one place. Both brands will continue operating under their existing names while integrating offerings for hospitals, health systems and clinicians. - learn more

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