Eva Lau

Spent a wonderful week in Canada with family! Now back to business.. Here's your weekly AI update: 🔙 𝐓𝐡𝐞 𝐁𝐚𝐜𝐤𝐰𝐚𝐫𝐝 𝐏𝐚𝐬𝐬: 𝐑𝐞𝐯𝐞𝐫𝐬𝐢𝐧𝐠 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐭𝐡𝐞 𝐀𝐈 𝐖𝐞𝐞𝐤 Week 51 | August 5 - August 11 The OpenAI Brain Drain Industry: 🚨OpenAI co-founder John Schulman leaves for Anthropic; President Greg Brockman is taking extended leave through the end of year. What's interesting is that three of their most technical co-founders (Ilya Sutskever, John Schulman, Andrej Karpathy) have all left the company now. This then begs the question - is this a result of natural silicon-valley attrition, or is there something deeper going on here? And moreover, how will this impact the technical moat that OpenAI has built over the years? (https://lnkd.in/gztRKhwV) 🚨Google announced that new Gemini AI-powered features will be incorporated in a variety of home devices, such as Google Home and Nest (https://lnkd.in/gV2QacAQ?). It also announced a significant reduction in token cost of Gemini 1.5 Flash (https://lnkd.in/gbNe6yNU?) 🚨Figure releases Figure 02, it's newest humanoid robot. Figure has been actively testing robots with BMW at a manufacturing plant. Figure last raised $675M Series B in February 2024, valuing the company at $2.6 billion. (https://lnkd.in/gZnPSke4) 🚨Mark Zuckerberg said on Meta's Q2 earning call that to train Llama 4, the company will need 10x more compute than what was needed to train Llama 3. (https://lnkd.in/g5pEPrTw?) 🚨Elon Musk filed a lawsuit against Sam Altman and Greg Brockman, renewing claims that the company is betraying its founding aims of benefiting the public good rather than pursuing profits. (https://lnkd.in/gAk5grU6) Financing and M&A: 🚨Groq raises $640m in Series D at a $2.8B valuation. The round was led by Blackrock Private Equity Partners with participation from other investors such as Neuberger Berman, Type One Ventures, Cisco, KDDI, and Samsung Catalyst Fund. (https://lnkd.in/gRtKQKvW?) 🚨Hugging Face acquires Seattle data storage startup Xethub. The HF team plans to integrate Xethub's backend storage technology, enabling developers to host more large models and datasets than currently possible. CEO Clem Delangue 🤗 confirmed this was the largest acquisition the company has made thus far. (https://lnkd.in/g8fJ-BjT) 🚨OpenAI is leading a $60m Series B funding round for Opal Camera, a maker of professional-grade webcams(https://lnkd.in/gMT9dkTG) 🚨ProRata.ai a company that has invented an attribution technology to properly compensate content owners, has raised a $25m Series A, led by Prime Movers Lab, Mayfield Fund and Revolution Ventures. (https://lnkd.in/gumjbWmj) R&D: 🚨Alibaba Group releases Qwen2-math, a SOTA model for math-specific tasks. (https://lnkd.in/g8Jh3M7T?) Other Interesting Resources: 🚨 Between May and August, more Humane AI Pins were returned than purchased (https://lnkd.in/gy56qpKm?). 😯

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Imagine a Canada without Shopify. What began as a small business now powers millions of entrepreneurial dreams. This is the power of entrepreneurship—it’s not a single moment, but a dynamic journey that transforms industries, communities, and economies. To ensure Canada remains prosperous in the decades ahead, we need to create the conditions that foster and reward entrepreneurial growth. But this journey isn’t just for startups—Canada’s largest and most established companies have a crucial role to play. With the newly launched NACO Canada Angels & Dreams Fellowship Program, we’re clearing the runway for the next generation of Canadian innovators to get lift off. Success is about playing for the long term. Canada’s biggest companies are already getting involved, including senior leaders of industry giants like Amazon AWS, Barclays Canada, Google Canada, Interac, Loblaw Digital, National Bank, Porter Airlines, WestJet, and many others. By supporting the next generation of innovators through this Fellowship, we can help create the structural advantages that drive global competitiveness and transformative growth. Reach out if you want to get involved. Together, we’re building a future where Canada’s entrepreneurs can thrive, innovate, and lead on the world stage. This is just the beginning. #Entrepreneurship #Innovation #AngelsAndDreams #Fellowship #CanadianBusiness https://lnkd.in/gp-dttZT

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Really interesting topic: #Entrepreneurship through #Acqusition. Bringing it forward to my network. If you want to learn (and grow) in this space, Venture for Canada is one of the strongest #talent development platforms in #Canada.

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🌍 Thrilled to be moderating today’s panel at ventureLAB’s 4th Annual #HardTechSummit, diving into Canada’s pivotal role in the global hardtech economy! It's more crucial than ever to focus on Canada's role in the global economy. Canada stands at a unique crossroads, with the talent, resources, and infrastructure to support world-leading hardtech innovation. From AI to advanced manufacturing, we’re positioned to drive transformative solutions on a global scale, and I’m excited to unpack these opportunities with leaders who are at the forefront: ● Mitch Debora, Co-Founder & CEO, Mosaic Manufacturing Ltd. ● Paula Cruickshank, Senior Vice President, Fund Investments, BDC Capital (Canada) ● Dan Herman, PhD, CEO, Intellectual Property Ontario, Intellectual Property Ontario (IPON) ● Yuri Navarro, Managing Partner, Kanata Ventures, Venture Advisor We’ll explore how Canadian hardtech companies are not only meeting international demand but are shaping the future of industries critical to resilience and security. Mosaic Manufacturing’s recent $28M CAD raise is a prime example, as they expand their innovative 3D printing systems that enable onshoring and tackle global supply chain issues. Canadian-made solutions like these are redefining how industries approach manufacturing, AI, and IP on a global stage. Don’t miss this chance to see how Canada is setting new standards in tech and innovation! There’s still time to join virtually. 🔗 Register here: https://lnkd.in/g2YHDhVe #YRtech #Semiconductors #AI #TechInnovation #StartupCanada #TechNetworking #CityofMarkham #CanadaInTech

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Behind the scenes at #Elevate2024 - speaking at the biggest tech conference in Canada re: #VentureCapital investing in deep-tech. Joined by Janet Bannister (Staircase Ventures), Eva Lau (Two Small Fish Ventures), Chris Neumann (Panache Ventures), we covered: - what types of companies are exciting to VCs (hint: moonshots), - specialist vs. generalist VC funds (founders: while it’s wonderful to meet a specialist VC that knows your domain really well, that is currently the exception, not the norm - so the art of telling your story to a broader investor base is crucial) - how VCs construct their portfolio to meet LP expectations (as a founder, you need to understand what motivates the investors you’re interacting with) Glad Creative Destruction Lab assembled this epic panel on the Moonshots stage ! Elevate Sonia Sennik #FutureTech #Innovation #IOV

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The right private + public collaborations are a great way to tackle difficult societal problems such as our housing crisis. Proud of how Highline Beta is supporting innovators & making an impact on the Canadian housing ecosystem. https://lnkd.in/g_pq6ZM4

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Good news 🇨🇦 Tech friends: AI Tinkerers Toronto Meetup is now live! Show don't tell. Join us to share your killer AI demo with fellow AI builders and researchers, on May 30th at Shopify HQ. No pitches! We want to see your messy WIP! Let's build 🇨🇦 / acc. Apply here: https://lnkd.in/g-C73dwm 💡 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗔𝗜 𝗧𝗶𝗻𝗸𝗲𝗿𝗲𝗿𝘀? We are not just “AI enthusiasts”, we are AI tinkerers. AI Tinkerers is a meetup built around live demos, for tech entrepreneurs, hackers and those deeply passionate about creating LLM-enabled applications and have hands-on experience in building such systems. For those who remember... yes this is a lot like DemoCamp :) 🎤 𝗗𝗲𝗺𝗼𝘀 We are actively looking for presenters! A presentation/demo is limited to 5-6 minutes in length and demonstrates a work in progress. We’ll select 4 or 5 of the most interesting topics to present. Note, as capacity to the event is limited, we’ll be prioritizing those that can demo something interesting. 🚀 Pls RSVP and spread the word! We've needed an event built around actual Demos. This is it. Sponsored by Shopify and Shopify Ventures; brought to you by the Human Feedback Foundation AIT city organizers. Let's go 🚀

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Despite a growing and robust Canadian tech ecosystem, the country has minted fewer than 30 unicorns in the past decade compared to the US's 700. Should Canadian VCs look to invest internationally? If so, what's the optimal approach to accessing global opportunities, navigating financial and cultural differences, and providing meaningful value? Alternatively, should they focus on strengthening the Canadian tech ecosystem? Is the lack of unicorns primarily a cultural, structural, or financial issue, or a combination? Can VCs play a role in addressing these challenges? Happy to participate in the Canadian Venture Capital & Private Equity Association (CVCA) webinar with Mana Hosseini, JD/MBA and Kim Furlong addressing these topics. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Registration link in the comments #venturecapital #startups #investing #canada

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Are you a B2B software startup founder at the very start? Then you have to meet this early-stage investor! This week's findfunding.vc spotlight is on Dominic Lau from Ripple Ventures. He: 🇨🇦 Is Vancouver and Toronto based 🎣 Loves to fish 🎶 Founded the RippleX Fellowship - a platform to help underrepresented founders access mentorship, intros, and the tools to get from idea to revenue to funding Amongst founders, Dominic and his team at Ripple Ventures, including Matt Cohen, are known for being hands-on partners who open valuable networks, navigate challenges together, and assist in closing crucial revenue and funding deals. Make sure to: ✉️ Pitch him at [email protected] 👀 Look into the RippleX Fellowship - they take 10 companies 2x a year through the Founder Fellowship program and also back companies through the Fellow Fund For more, check out our funder spotlight card below along with Ripple Ventures' profile on findfunding.vc (link in comments).

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Toronto is home to Toronto Tech Fest. What started out early this year as a week long celebration of Toronto's founders, builders, and innovators at the leading edge of technology, soon ballooned into one of the city's largest tech gatherings spanning the entire innovation ecosystem and tech community. Generating this energy in Toronto, has been one of the most rewarding moments of my life as an entrepreneur and community builder. Here's the impact we've had in Year 1: ✨ 90+ events held across 4 days ✨ 255+ co-hosts and partners activated ✨ 10,000+ signups with people flying in from New York, Chicago, SF, LA to attend. By creating a platform for all participants (founders, investors, builders, community leaders) to create, connect, and catalyze each other, we amplified the power of the tech community at the grassroots to foster real change and opportunity for the Toronto innovation ecosystem. By the community, for the community. So now, with Collision moving to Vancouver in 2025, those of us who believe in the innovative future of Toronto must take up the torch 🔥! We at Toronto Tech Fest are committed to carrying forward the spirit of innovation in Toronto, across next year, and for years to come. This means activating our tech community and investing in even more innovative programming that draws in new talent, adds value for founders, builds bridges with local businesses, and showcases why the tech community in Toronto is world class. Let's fight for this future together! Comment below 👇 or connect with me or Mell Truong via DM if you're interested in joining us to make a lasting impact on Toronto innovation in 2025 and beyond.

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Canada’s tech talent shortage isn’t going away, but there’s a solution within reach: reskilling and work-integrated learning. Check out my latest op-ed where I dive into how we can bridge the gap and future-proof our workforce. Together, we can unlock potential and prepare for the digital future—one learner at a time. #FutureOfWork #WIL #DigitalSkills #TechTalent

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Who are the best Trusted Advisors in Mid Market M&A in Canada?  Tag their name below in comments - we would love to talk to them! I'm working on my new start-up. We’re building an AI Co-Pilot that is revolutionizing value creation and M&A strategies, while redefining what it means to be a Trusted Advisor. Looking to connect with  #Bankers #Accountants #M&A #Valuation Experts #Advisors #PEs #VCs

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Take very talented and ambitious people, and provide a place for them to connect while working on their next thing. That is Builders Club. http://startupbarn.ca The three areas we think about a lot and are still learning about are: 1. who is a talented and ambitious person? 2. what is a ‘next thing’? 3. how do they connect? This is how the story of Builders Club begins. It starts with people Anything successful in investing in people starts with the people and not a process. YC started in Paul Graham’s house in Boston and focused on talented and ambitious young talent connected to the schools in the area. South Park Commons started as a place for people looking to spin out of their successful tech careers. Buildspace built connections with builders before they had a space. In Canada, we have a lot of very talented and ambitious people from all over the world. In the Waterloo Region, the concentration of these people is as high as you find in the SF area. The diversity of experience and background all share a common desire to build stuff. Not always build a company at first or at all. But they always find themselves building something. Building the next thing Working on what is next for you is the only ‘requirement’ for membership. That doesn’t mean leaving your job. It means you are ambitious to grow your skills and develop your talent by taking on new challenges. That can lead to building a company or it’s just about making something new. Only some people should start a company. But great companies are often born out of projects that are a thing someone else wants. Figuring out your next thing will be hard but it is a lot easier when you are around other people with that same aspiration. It creates a naturally occurring mentorship ‘program’ for you to challenge your assumptions, develop new ideas, and expand your trusted network. Connection is enhanced with trust Matching the type of people with the right type of environment is magic. Motivated and curious people thrive in an environment that can be used for exploring ideas, sharing, and serendipitous collaboration. It doesn’t have a lot of rules or requirements. This requires a lot of trust. The focus of the place is to have a default state of action. Just F’n build. Figure stuff out as you go. Ask questions. challenge assumptions, and share your experience. Let’s F’n Build Together (or on your own but around others)! In the first three months, a group of makers, community builders, deep thinkers, and tinkerers across all sorts of skill sets have come together to make Builders Club happen. Our membership approach is to start with a low-cost membership and have you ‘add-on’ services that help you build. Right now that is holding a desk for a month or having someone watch your child while you are on a Zoom call or attending an event. You should join us. P.S. Not in Waterloo but want to support/connect with builders when you are here? We have a membership for you too.

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Solving problems within the Canadian tech industry requires a national attitude adjustment on several key fronts: - Adopting a long-term thinking approach rather than focusing solely on short-term gains - Thinking big and competing on a global scale, not just locally - Recognizing that a few highly motivated and properly incentivized individuals can create massive value for the country It feels as though Canada needs its own version of the Iwakura mission, where someone deeply understands the traits that have made the US so successful historically and the lessons Asia has learned in modern times that have led to their rapid ascension. This person would then run a campaign based on those lessons. Until the root causes are addressed, it's difficult not to recommend that individuals align themselves with the US in their pursuit of building, as failing to do so could severely limit their potential.

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Cool read about portco Vivid Machines using AI to help farmers maximize yield, reduce costs, lower emissions, and make data-driven decisions that weren’t possible a generation ago!! 🍎 🍇 🍐 🥝 From real-time tracking of tree health to optimizing harvest timing, Vivid turns farming into a precise science – helping farmers make informed decisions that improve profitability and boost efficiency. It’s awesome to see Canadian agtech driving such significant economic impact. Proud to support Jenny Lemieux and Jonathan Binas in shaping a more productive and sustainable future for farming! 🌱🚀 https://lnkd.in/e4i2NgMW #AI #agriculture #startups #venturecapital

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It seems to me that the question should be ... can incubators identify/create/support/augment exceptional companies - who cares if they are just good at supporting more average or worse yet underperforming companies - We should be focused on the exceptional outliers and the encouraging part was the note "The highest revenue-generating startups were the exception, posting slightly more than non-BAI firms, but only in 2020" but .... unfortunately those positive revenue signals might have zero to do with the incubators and everything to do with access to a capital and a willingness/ability in 2020 to spend it on revenue capital at any cost. The other problem with this kind of a study is revenue is a MEANINGLESS metric for biotech companies. How the authors measured success/impact in this segment of the market would be of interest as I suspect access to wet labs, shared equipment and facilities, and in some cases corporate strategics should be highly accretive to these kinds of companies.

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This June, in collaboration with Mitacs and Dawson College Artificial Intelligence, our team at AI Launch Lab / Lancement IA will begin operating AI Accelerator Programs, an initiative designed to develop AI competencies in Canada's future workforce and to increase AI adoption in industry. As increasingly powerful AI models and tools begin to transform our roles in the workplace, the barriers to developing capacity to participate in these innovations is dropping. Having not yet been inculcated by workspaces of the present, college students are especially well-placed to learn, adapt, and contribute. AI Accelerator Programs can help enable a generation of college students to be prepared and capable to help Canadian industry lead this transition. College students with any background and from any discipline will be able to join a free, accessible, and diverse AI cohort, learning state-of-the-art skills through the process of creation while being mentored by experts in the field. Applied Learning will be followed by Launch, where distinguished students will be selected for a paid internship in order to complete an applied AI R&D project while retaining the full support, training, and mentorship from our teams and experts. AI Accelerator Programs' unique model enables rapid upskilling and provides industry value throughout the training process through starting and scaling R&D projects, prototyping, and experimentation to capable teams with a minimum of cost, management, and onboarding. It also promotes responsible AI by catalyzing practical deployment of data security and privacy-first practices as well as algorithmic impact assessments, leading to better outcomes for all stakeholders, and reducing potential liability from AI adoption to companies. AI Accelerator Programs will further advance Canada's strengths in AI education, increase adoption across industries and business sizes, expand the AI talent pool, and support the success of underrepresented groups in the talent development pipeline. I am thrilled to be part of this initiative, which we aim to scale to many thousands of students over the coming years. It is the outcome of more than 5 years of work from our current and previous teams, as well as the indispensable support of many colleagues, collaborators, and friends during that time. If you're interested in hiring an intern through this program (subsidized 50%+ by Mitacs) and benefitting from the project management, support, and deep expertise from AI Launch Lab and our partners, as well as the vast pool of trained and dedicated college students who will be contributing to your project's success even as they learn, apply at the link below. If you want to collaborate with us in another way or want to learn more, send me a message. The future competitiveness of the Canadian economy depends on its ability to vastly increase AI adoption and the AI talent base. Let’s help lead the way together. https://lnkd.in/eC5fFRwE

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VanHack has brought over $150M in annual salary to Canada and is on a mission to bring $1B in salary to our economy. This article explains how we'll get there.

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