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AI is falling fast
To:Brew Readers
Emerging Tech Brew // Morning Brew // Update
VCs are pulling back from AI faster than the overall market.
Morning Brew August 19, 2022

Emerging Tech Brew


It’s Friday, and, look: As Emerging Tech Brew readers, we know you’ve all got a handle on what’s next. But do you know how to turn that knowledge into a winning business strategy?

The Brew’s Business Essentials Accelerator will help you with that and more. The next one starts in September—apply today to level up your career.

In today’s edition:
AI funding is falling even faster than overall VC
The climate-tech boom could cause a copper shortage

Hayden Field, Grace Donnelly, Dan McCarthy


The VC slowdown is happening faster for AI

The VC slowdown is happening faster for AI Francis Scialabba

Get ready for a new watercooler topic: Venture investment may be trending down, but funding for AI is performing even worse.

Total VC deal count worldwide has maintained momentum from last year’s record highs, but so far in 2022, “deal value has declined rather significantly across all stages,” according to a PitchBook report—and AI funding in particular is falling faster than the market.

Zoom in: In Q2 2022, global AI funding plummeted by more than 44% year over year, from $33.6 billion to $18.8 billion, per Pitchbook data shared with Emerging Tech Brew.

  • Over the same period, overall global VC funding fell by 25%, from $176 billion to $131.7 billion.
  • On a quarterly basis, global VC funding for AI and machine learning was down more than 26% between Q2 and Q1, a slightly larger margin than the 20% drop for global VC as a whole.

“The market downturn has coincided with AI platform companies, including some of the largest ones, missing their revenue expectations, and demonstrating that AI across enterprise isn’t producing high growth yet,” Brendan Burke, senior analyst for emerging technology at Pitchbook, told us. “That’s forcing a reevaluation of some of those business models.”

Read the full story on the state of AI funding.HF



Invest in a cure


The world’s population is aging quickly, and biotech companies are in a race against time to make advances in regenerative treatments for debilitating diseases like osteoarthritis (OA).

OA is going to affect up to 25% of the world’s adult population by 2030. And there was no way to stop it…until Cytonics developed the first and only therapy that treats OA at its root.

It’s not a painkiller. It’s not a symptom management strategy. It’s a cure.

Cytonics’ flagship, FDA-approved treatment has already helped 8,000 people, and now they’re taking a more effective version to human trials.

They’re already backed by Johnson & Johnson and the National Institutes of Health. You, too, can invest in Cytonics before their next big milestone.



A copper crunch is a-comin’

worker in copper cable factory Monty Rakusen/Getty Images

The electrification of everything is copper’s time to shine, but soon the metal could become harder to find.

Copper is a standout electrical conductor—only silver allows electricity to flow more easily. While it is commonly used today in electrical wiring, renewable energy sources and EVs will require much more copper than their fossil-fuel-powered predecessors.

  • By the numbers: Global demand for the metal could nearly double by 2035, from ~25 million metric tons to ~50 million MT, according to a July report from S&P Global.

“If we are to meet energy-transition targets, the amount of copper that’s going to be used over the next 28 years is going to exceed all of the cumulative copper consumption that the world has seen since 1900,” John Mothersole, director of nonferrous metals economics and country risk for S&P Market Intelligence, said in a discussion about the report.

Looking ahead...The growth in demand for copper isn’t expected to be quite as drastic as the scramble for other critical minerals such as lithium, but it’s still expected to pose challenges for the energy transition.

Read the full story here.GD



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U.S. blacklist i.e. "Entity List," limiting exports from U.S. companies to Huawei Francis Scialabba

Stat: Despite mounting technological competition and geopolitical strife between the countries, the US approved 88% of applications for tech exports to China in 2021 and 94% in 2020.

Quote: “The fact we can change some of the things that the customer wants remotely is a really powerful thing and a first to market.”—Simon Pollard, founder of Covvi, which has developed a bionic hand that can be updated remotely

Read: This startup beat every brain-computer interface company—including Neuralink—to a key milestone.

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  • Redwire, a space infrastructure company, said it will launch a commercial greenhouse into orbit next year.
  • Oracle is reportedly now auditing TikTok’s algorithms for potential manipulation by Chinese authorities. Reminder: Oracle was the kinda, sorta winner of the bizarre TikTok “ban” back in 2020 and is now the social platform’s “trusted tech partner.”
  • Google is using large language models to train its robots to understand verbal commands.
  • Zoom employees shared how they themselves use Zoom for work.
  • The Emerging Tech Brew Summit is moving online! You can now experience the summit from anywhere in the world for free. Join us on the screen on September 29th to hear from key leaders and innovators across food, energy, and heath. Click here to RSVP.


Three of the following news stories are true, and one...we made up. Can you spot the odd one out?

  • Verizon announced it would shutter most of its 5G projects and double down on…3G.
  • The startup that is “de-extincting” woolly mammoths is now also looking to bring back an extinct tiger.
  • Even Amazon is rolling out a TikTok clone now.
  • Airbnb has introduced “anti-party technology” in an attempt to block would-be party-throwers from booking reservations.


As far as we know, Verizon has not been overcome with a bout of nostalgia for third-generation wireless networks.


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Written by Hayden Field, Grace Donnelly, and Dan McCarthy

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