In today’s newsletter we discuss NYC’s tech scene never sleeps, OpenAi raises $300M, Apollo 1 terrifying audio, Victoria’s Secret fashion show is back, T-Squared Social golf lounge, and soccer refs get body cams.

Business

New York City’s tech scene never sleeps! Long in second place to California, New York saw “$29.2 billion invested in 2,048 startups”, according to the National Venture Capital Association. Even though that is a big number, California raised approximately 3X that amount for the same time period.

With the IPO market seemingly coming back from the dead for tech startups NYC is well positioned against other states to grab a larger chunk of venture capital. Recently more of the larger blue chip VC funds have been expanding their New York offices, and I should note when I say New York I really mean NYC because that is where the vast majority of funding is invested instead of in Upstate and Western New York (I know painful fact from experience).

New York is a tech startup hotbed after almost a decade-long run of IPOs

Tech

Fresh off of raising $300 Million from investors in the Spring, OpenAI is now reportedly raising funds that would value them between $80 billion to $90 billion; up from the $29 Billion valuation they had back in April. That’s a nice bump in valuation, but if you’ve been following OpenAI and the AI industry as a whole you may agree with sky high valuations these days. That’s still pretty inflated if you ask me considering they are only expected to reach $1 billion in revenue by the end of 2023.

OpenAI is reportedly raising funds at a valuation of $80 billion to $90 billion

Space

It’s easy to think spaceflight is safe these days with SpaceX making nearly weekly flights to space to launch their Starlink satellites, and shuttle astronauts to the ISS regularly, but back during the Apollo missions spaceflight was anything but safe. An audio recording of the moment the Apollo 1 capsule burst into flames with three astronauts on board has been circulated on X, and it’s beyond painful to hear - or so I’ve read, because there is no way I want to subject my ears and soul to that, but it is newsworthy because if we can’t learn from the past we’re doomed to relive it (or so the quote goes).

Terrifying audio resurfaces from inside the space capsule during the Apollo 1 disaster

Entertainment

The Victoria’s Secret fashion show is coming back! Now that I have your attention, let’s talk about how big of a deal this is for the fashion industry and the financial impact it has. This year’s show will be streamed on Amazon Prime on September 26, and is estimated to cost $12 Million dollars. This is an exclusive event. I mean there isn’t even an average ticket price, because tickets aren’t even sold. They are given away to a who’s who in the fashion industry. As recently as 2018 some tickets were sold to the event via a charity auction with prices going for between $25,000-$30,000.

After a four-year hiatus from TV the Victoria’s Secret fashion show promises to be a “departure from the original Victoria’s Secret Fashion Show, which featured models known as “Angels” strutting down the catwalk wearing outsized wings and elaborate, often kitschy, lingerie-inspired costumes.” As a long time admirer I just hope they keep the tradition of great music and the Angels wear their wings.

Victoria’s Secret returns to TV — but its challenges are bigger than branding

Real Estate

What’s better than watching Tiger Woods golf, or Justin Timberlake sing? How about a “golf-infused” sports bar in Midtown Manhattan, New York called T-Squared Social (before you wonder where they came up with that name both their first names start with a T, so there you go).

The pair came up with the idea while golfing together as a resort they are members of in the Bahamas, and they thought it would be “cool to create a place that combines our favorite things and brings people together,” Woods said in a press release.

The ‘Golf-Infused’ Bar We’ve All Been Waiting For

Sports

This is what it’s come to parents? I know I’ve been guilty of yelling “Really ref?” at my kid’s soccer games when I disagreed with a call, but some parents are taking it way to far and refs are working on deter parental abuse, which is a main reason so many referee officials are quitting the job in the U.S. and Canada.

According to a story by ZipRecruiter “As of Sep 19, 2023, the average hourly pay for a Youth Soccer Referee in the United States is $18.48 an hour.” That’s just above the minimum wage. And if you ask me it is nowhere near how much referees should be paid, and no price is high enough for them to have to deal with rude and abusive parents in what should be a fun game for kids.

Ontario soccer refs start wearing body cams to deter parental abuse

So much news, so little time. Until tomorrow we’re signing out.

— Chris