Boosting Success: Inside Adam Draper's $87 Million Fund at Boost VC and Apple's AI Chatbot Veritas

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world. Adam Draper, a scion of the VC royal family, has raised over $87 million for a new fund for Boost VC, the venture firm he founded. Boost VC focuses on writing pre-seed checks to startups, with a particular emphasis on deep tech investments. The firm's first two funds have had successful returns for investors, with many of the startups they have backed reaching late stages or going public. Despite being part of a prominent family in Silicon Valley, Adam Draper is determined to make a name for himself in the venture capital world. Boost VC invests across different sectors in deep tech, from space to bioscience, and averages about one deal per week. The firm's co-founder, Brayton Williams, emphasizes the importance of judging the founder's commitment and ability to execute their vision over extensive due diligence. The Draper family's enthusiasm for crypto is well-known, but Boost VC invests in various sectors within deep tech. With a successful track record and strong family support, Boost VC is poised for continued success for at least one more generation.Apple has developed an internal AI-powered chatbot called Veritas, similar to OpenAI's ChatGPT and Anthropics' Claude, to help test new features with Siri. However, there are no plans to release Veritas as a standalone consumer app, which some believe is a mistake. EA is in talks about a $50 billion deal to go private with investors like Silver Lake and Saudi Arabia's public investment fund. Nvidia's recent deal investing $100 billion into OpenAI has raised concerns about circular deals in the AI industry, where companies invest in their own customers potentially inflating demand perception. This practice could spell trouble for the industry if the market declines. Other tech news includes Intel's battle to stay relevant, Trump's TikTok deal not cutting off China's algorithm, and Accenture's reinvention strategy.The text discusses how RBC CEO Dave McKay learned about the $200 billion opportunity in the music industry from Taylor Swift. It also mentions that Trump believes he is close to ending the war in Gaza while a U.S. government shutdown looms. The article highlights the increasing revenue potential in live entertainment and how CEOs are leveraging partnerships, technology, and creating ecosystems to tap into this growing market. Additionally, it provides updates on various news stories, including GSK CEO Emma Walmsley stepping down, concerns about private credit market risks, and the impact of AI on job creation. The text also covers the rise of prediction markets, Moldova's rejection of pro-Russian interference, and market updates.

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