Polygon Labs, a group of companies developing the Polygon blockchain, announced on Tuesday it has laid off 20% of its employees, or about 100 people. Polygon Labs cited its recent reorganization, which consolidated several businesses, as the reason for the layoffs. Polygon’s native token, matic, is among the ten largest cryptocurrencies by market capitalization, at $12.5 billion as of Tuesday,...
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AI Startups Are Facing a Reckoning
A reckoning may be coming for once-hot artificial intelligence startups. Among the most vulnerable: consumer apps (think Character.AI) and “thin wrapper” startups like CopyAI that merely provide a nice user interface on top of a third-party model from model developers like OpenAI. We got a sense of the slowdown last week, when Natasha and I reported that Jasper, an early generative AI...
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