OpenAI’s Hidden Weapon: Ex-Google EngineersRead Now

Jeffrey Zirlin of Sky Mavis. Photo: Bloomberg.

A16z’s Gaming Metaverse Play; Cognixion’s Assistive Reality Progress

By  |  May 19, 2022 11:03 AM PDT
Photo: Jeffrey Zirlin of Sky Mavis. Photo: Bloomberg.

As investment pulls back and tech stock sell-offs continue, leave it to Andreesen Horowitz to dangle a bit of hope for startups aiming to power through to the next boom. The Menlo Park firm announced Wednesday the creation of its first fund focused on the gaming industry, totalling $600 million. And though there’s a current of optimism for immersive tech behind this fund, I would bet that it focuses more on quickly scalable games and immediately useful tech than any true metaverse moonshots. 

Indeed, the fund’s announcement refers to the rise of games “that more closely resemble social networks and scale like consumer technology companies.” Given that consumer tech firms reach tens of millions of people, this would seem to preclude the kind of AR/VR technologies that currently reach only a few million active users at best. Andreessen also made clear its intentions by saying the fund will focus on technological infrastructure for games in addition to game development and gaming-related consumer companies a la Discord or Twitch.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
The Briefing enterprise media/telecom
Iger’s Disney Fix-It Plan Has Something for Everyone
Bob Iger. Photo by Bloomberg.
Bob Iger really should have run for president, as he once considered doing. His political instinct is unmatched, at least among CEOs. On Wednesday, in his first quarterly earnings call since returning to the top job at Disney, Iger offered something for everyone. A return of the dividend! Layoffs! Creative executives get their power back! Traditional TV is still important, Iger reminded...
Latest Briefs
 
SpaceX to Conduct Key Engine Test on Mars Rocket on Thursday
Alphabet’s Verily Appoints Biotech Executive As CFO
Francisco Partners Nears $1.7 Billion Deal for Sumo Logic 
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
The supplement stacks of 11 founders and investors. Photos courtesy of subjects.
The Big Read culture
The Supplement Stacks: All the Pills, Powders and Potions Filling Tech’s Kitchen Counters
When Courtney Reum wakes up in his Los Angeles home, it’s time to freeze, shake and dangle upside down.
Verily headquarters in San Francisco. Photo by AP.
Exclusive google
Revenues Rise at Alphabet’s Biggest ‘Other Bet’ But So Do Losses
Verily, by far the biggest Alphabet unit by revenue after Google, continues to post heavy losses, according to previously undisclosed financial information.
Art by Clark Miller.
The 1:1 google
‘We Just Have to Keep Winning’: A Sonos Executive With a Colorful History Goes to War Against Google
A few months into his job as chief legal officer of Sonos, Eddie Lazarus was ready to wage war. When Lazarus joined the audio hardware company in late 2018, it was facing growing competition from Amazon and Google.
John and Patrick Collison. Photos by Bloomberg.
markets startups
Stripe Walks Tightrope to Stay Private. Could Other Firms Follow?
Thirteen years after starting Stripe, chief executive Patrick Collison is raising his company’s largest ever slug of cash from venture capitalists.
Illustration by Clark Miller.
Opinion startups
Stop Paying People So Much
Every startup leadership team wrestles with the trade-offs between growth and profitability. This is fitting and ever shall be.
Photo via Getty
Dealmaker venture capital
A New Bubble Is Forming for AI Startups, But Don’t Expect a Crypto-like Pop
Venture capitalists have dumped crypto and moved on to a new fascination: artificial intelligence. As a sign of this frenzy, they're paying steep prices for startups that are little more than ideas.