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Harvard Endowment Mulls Reducing China Exposure Amid Wider Doubts

Harvard University’s endowment is considering reducing its exposure to China as U.S. public and private institutions reconsider their China risk, Bloomberg reported. New allocations of money to Chinese private equity have fallen to the lowest since 2018, according to Preqin. Some state pension funds are also reassessing their positions. The pullback comes as Chinese public markets take a...

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Pro Weekly ai
Pro Weekly: OpenAI’s Other Model
OpenAI CEO Sam Altman. Photo by Bloomberg
Welcome back!OpenAI has been the talk of the tech world in recent months, following the release of the ChatGPT chatbot in November and GPT-4, the newest edition of its machine-learning model, earlier this month. Its pace of product releases is impressive, especially from a company that started as a nonprofit research organization. My colleague Jon detailed a key reason in an article...
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From left, Alphabet CEO Sundar Pichai, DeepMind CEO Demis Hassabis and Google Brain chief Jeff Dean. Photos by Getty, Bloomberg
Exclusive google ai
Alphabet’s Google and DeepMind Pause Grudges, Join Forces to Chase OpenAI
OpenAI’s success in overtaking Google with an artificial intelligence–powered chatbot has achieved what seemed impossible in the past: It has forced the two AI research teams within Google’s parent, Alphabet, to overcome years of intense rivalry to work together.
Art by Clark Miller.
Opinion startups
Don’t Build the Wrong Kind of AI Business
At a catch-up coffee a few weeks ago, a founder friend asked me, “What AI thing should we build?” It was the third time that week a founder had asked me the same question.
Block chairman and co founder Jack Dorsey. Photo by Getty
markets
Fintech’s Big Wakeup Call
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills.
Art by Clark Miller.
Market Research e-commerce culture
The Skin-Tech Devices Helping Execs Beautify in a Hurry
I’m always 29 at heart,” said Liyia Wu, CEO of ShopShops, a livestream shopping app for fashion, beauty and lifestyle products.
Art by Clark Miller.
Caffeinated Capitalists venture capital
Venture Capital’s 25 Favorite Cafes
Coupa Cafe in Palo Alto. Buck’s of Woodside. The Creamery in SoMa (RIP). Silicon Valley’s coffee shops have undoubtedly seen more dealmaking than any one fancy office building or members’ club.
Art by Clark Miller
Surreal Estate real estate
Silicon Valley’s Realtors, Like Its Bankers, Are Having a Tough Month
In early March, Ken DeLeon, founder of DeLeon Realty, a Silicon Valley–based brokerage that sold more than $1 billion in homes in 2021, called one of his venture capitalist clients to discuss the purchase of a $20 million–plus megamansion.