PIN

A newsletter for communities, investors, angels, and founders

Author

Power in Numbers
April 04, 2025

Welcome to PIN’d - our weekly newsletter where we pin (lol, bear with us) the most important tech/startup news of the week for aspiring angels, vc’s, startup investors, founders, etc. Expect a new weekly roundup from us every Friday morning!

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📰 This week’s best news

OpenAI just locked in a massive $40 billion round led by SoftBank and backed by Microsoft, valuing the AI giant at $300 billion. The valuation puts OpenAI behind only SpaceX at $350 billion and even with TikTok parent ByteDance among the world’s most richly valued private companies.

Fintech VC powerhouse Frank Rotman stepping down from QED Investors to found his own startups

Frank Rotman, co-founder of QED Investors and a key early backer of fintech giants like Credit Karma and SoFi, is stepping back to launch startups, starting in the music industry. He’ll move into an emeritus role at QED by 2026, while continuing to advise and, possibly, write the next go-to book for startup founders.

Lux Capital is raising $200 million for its first-ever defense-focused fund, signaling a major bet on the booming defense-tech sector. With early wins like Anduril and Hadrian, the firm is leaning into a space that’s becoming a hot ticket for VCs.

Elon Musk says he sold X to his AI company

Elon Musk just sold X (formerly Twitter) to his AI startup, xAI, in a $45 billion deal that folds the platform into his growing AI empire. The move aims to supercharge xAI’s reach and capabilities, but it also tightens Musk’s grip on both tech and politics, as he straddles corporate power and a role in Trump’s government.

Startup founder Charlie Javice has been convicted of defrauding JPMorgan with fake user data in a $175 million deal gone wrong. While VCs say the case was a no-brainer, the bigger question now is how one of the world’s top banks missed all the red flags.

Andreessen Horowitz may join a Trump-aligned push to wrest TikTok from ByteDance, as pressure mounts ahead of a U.S. ban deadline. The VC giant is eyeing a major stake in TikTok’s U.S. arm, teaming up with Oracle and other investors in a last-ditch bid to keep the app alive stateside.

On Wednesday, Rippling publicly released the affidavit of the Rippling employee who testified that he was working as a spy for the HR tech company’s arch rival Deel. And the account, coupled with Rippling’s lawsuit filed against Deel last week, reads like a corporate espionage movie script, complete with a sting operation and a smashed phone.

Circle is officially going public. The USDC stablecoin issuer filed for an IPO after hitting $1.68 billion in revenue last year, with JPMorgan and Citi leading the deal. This is a major move for crypto’s mainstream ambitions.

OpenAI launches OpenAI Academy, a free AI learning platform for everyone

OpenAI just rolled out OpenAI Academy, a free global learning platform, to help anyone, from coders to creators, get smarter about AI. With hands-on content covering both technical skills and big-picture issues like safety and ethics, it’s aiming to turn curious users into informed builders.

💰 Funding announcement highlights

Allen Control Systems, an Austin startup developing autonomous robotic weapon stations designed to detect and neutralize drone threats for military and defense organizations, raised a $30 million Series A. The round was led by Craft Ventures, with Inspired Capital and Rally Ventures also joining.

Playback, a startup enabling sports fans and creators to watch live games together, offering interactive features like real-time commentary and chat, raised a total of $22 million through a seed and Series A round. Khosla Ventures, Seven Seven Six, and NBA Investments were part of the investors.

BuildVision, a platform designed to automate the sourcing, procurement, and financing of building systems, raised a $10 million Series A round. Norwest Venture Partners was the main investor, with Crosslink Capital also joining.

Ethos, a London startup using AI to match people with expert roles, advisory gigs, speaking opportunities, and jobs, raised a $3.3 million round. General Catalyst was the main lead, with 8VC, Conviction, Common Magic, and Interface Capital also contributing.

Taxo, an AI-powered platform to automate administrative tasks in healthcare, such as prior authorizations and medical billing, raised a $5 million seed. The round was co-led by Y Combinator, General Catalyst, and Character.

 📚 Interesting reads of the week

New data shows that smaller VC funds consistently outperform larger ones, challenging the idea that “bigger is better.” In a market chasing mega-funds and flashy headlines, the best returns still come from nimble managers who stay focused, act fast, and back early-stage winners.

Andreessen Horowitz’s Andrew Chen just kicked off the next cycle of a16z speedrun, offering up to $1 million in funding plus $5 million in partner credits for very early-stage startups. Founders will work directly with Chen over 90 days, leading up to a high-impact launch. Applications close May 11.

Sam Altman on ChatGPT’s explosive growth

Sam Altman says ChatGPT just added one million users in a single hour, a jaw-dropping stat 26 months after launch when it took them 5 days to get to that same number. Have you tried your Studio Ghibli pic yet?

Here is PIN’s team looking cute at an Escape Room:

PIN’s team looking cute

Anthropic, the AI startup founded by ex-OpenAI insiders and siblings Daniela and Dario Amodei, is racing to build safe, powerful AI, while trying to prove ethics and ambition can coexist. Their chatbot, Claude, is at the heart of this mission, but recent research shows even the “most upstanding” models might be capable of dangerous deception.

Bradley Tusk is stepping away from the classic VC model, ditching fundraising and board seats for a model that trades his regulatory know-how for startup equity. He says it’s not only simpler, it’s more profitable.

University endowments are doubling down on private markets, with giants like Harvard and UC investing billions into PE, credit, and real assets. PitchBook’s tracker now lets LPs compare performance across top institutions and keep a pulse on where the big money’s moving.

Tech’s big anxiety: fewer jobs, lower pay, more AI

As AI takes over more coding tasks, even seasoned engineers are finding it hard to land jobs, especially in Big Tech. Salaries are slipping, layoffs linger, and many are pivoting to roles outside the sector or launching startups of their own.

BlackRock CEO Larry Fink is pushing to open up access to private markets, arguing that alternatives like infrastructure and private equity shouldn’t be just for the ultra-wealthy. In his annual letter, he called for innovation, regulation reform, and more 401(k) access so everyday investors can benefit from the assets shaping the future.

As AI sweeps into legacy industries, the once-clear lines between VC and PE are blurring fast. Venture firms are backing rollups, PEs are hiring ex-startup talent, and automation is shifting value capture in unexpected ways. The next decade will belong to those who can merge speed, tech fluency, and long-term vision.

💪Tech mafia of the week

Highlights:

💰 Most money raised: Signifyd

🤑 Total money raised by the FedEx Mafia: $753 million

Weekly Tech Mafia Leaderboard

The FedEx alumni has built some amazing companies. This tech mafia group takes the 71st spot on our leaderboard, with 42 companies founded and $753 million raised.

PS: Are you a FedEx alum interested in getting your community together to invest in the community (and earn carry/other benefits along the way)? Or are you a member of another community that you think would make for an amazing startup investment community?

Learn more about us and sign up for the waitlist here.

📌 PIN tweet of the week

💼 Who’s hiring in VC?

Looking to get into VC? Below are this week’s curated VC job openings.

Entrepreneur First is looking for a VC Associate.

Citi Ventures is looking for a Senior VC Vice President.

Techstars is looking for a Managing VC Director.

B Capital is looking for a VC Associate.

Eniac Ventures is looking for a Chief of Staff. 

📠 Fun fact of the week

The combined weight of all the electrons in motion that make up the internet at any given moment is equivalent to about 50 grams, roughly the weight of a strawberry.

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