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Every weekday we send you summaries of the latest fundraises, interviews and tech news in Silicon Valley from TBPN — technology's daily show.

Wed, May 20
Thu, May 21

FUNDRAISING ANNOUNCEMENTS

  • Convective Capital raises $85M Fund II to back disaster resilience tech as climate volatility drives insurer exodus
  • Modal Labs raises $355M Series C at $4.65B valuation as sandbox product grows 2x per month

GUEST INTERVIEWS

  • Economist Alex Tabarrok on AI's economic impact: productivity gains will be broad, jobs won't collapse — but change will take longer than technologists think
  • Spotify Co-CEO Alex Norström on Investor Day: reserved ticket access, UMG remix deal, AI adoption at 99%, and the disco ball logo moment
  • Jordan Schneider: US-China Beijing summit was 'prestige on the cheap,' rare earth stalemate has years to run, and Taiwan remains critical beyond chips
  • Secret Level head of studio Christina Lee Storm on AI filmmaking: story still wins, costs are misunderstood, and a major announcement is coming next week

NEWS

  • SpaceX files S-1, targeting $80B+ IPO as soon as June 12 — the largest in history
  • Anthropic revenue surges to $10.9B in Q2, set to post its first operating profit
  • OpenAI general-purpose model solves 70-year-old Erdős unit distance conjecture
  • White House awards $2B in quantum computing grants, taking equity stakes in recipient companies