FUNDRAISING ANNOUNCEMENTS

• Relace raises $23M Series A to build AI agent infrastructure — used by Lovable, Figma, and 38 other companies
• Spellbook raises $50M to bring AI contract review to 4,000 law firms — tripling revenue this year
• Monk.com raises seed round to automate invoicing and collections for SMBs using AI
• Meanwhile raises $82M to build the world's first Bitcoin-denominated life insurance company

GUEST INTERVIEWS

• Quinn Emanuel's John Quinn on AI litigation, IP wars, and what it takes to be the world's most feared law firm
• a16z's Martin Casado: China dominates 50% of global robotics deployments — America needs to act now

NEWS

• Prime beverage brand on pace for $300M in 2025, down from $1.3B peak — a rare CPG cliff fall
• Lululemon founder Chip Wilson takes out full-page WSJ ad blasting the board for destroying the brand
• First Brands auto parts supplier collapses with $10B in debt — $2.3B reportedly missing from accounts

COMMENTARY

• Token-adjusted EBITDA and the return of nonsense metrics — are we in bubble territory?
• Greg Brockman on Move 37: when will AI achieve a truly novel scientific breakthrough?
• Ferrari unveils its first EV — the Electrica — but cuts its EV lineup target in half as demand fades