Tag Archives: startups

Microsoft partners with VCs to give startups free AI chip access – TechCrunch

  1. Microsoft partners with VCs to give startups free AI chip access TechCrunch
  2. Microsoft’s New Xbox Generative AI Tech Sparks Widespread Backlash Forbes
  3. Startups to access high-performance Azure infrastructure, accelerating AI breakthroughs – The Official Microsoft Blog Microsoft
  4. Xbox sparks dev revolt with new AI writing partnership: ‘Lots of people are going to get fired, games will get worse, and C-suite will get millions’ PC Gamer
  5. Brillio Collaborates with Microsoft to Build Innovative Industry Solutions Using Microsoft Azure OpenAI Service Business Standard
  6. View Full Coverage on Google News

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Rival air taxi startups Wisk and Archer settle their trade secret theft lawsuit – The Verge

  1. Rival air taxi startups Wisk and Archer settle their trade secret theft lawsuit The Verge
  2. Flying taxi maker Archer settles Boeing Wisk lawsuits, shares jump Reuters
  3. Archer Accelerates Path to Market: Secures $215M Investment From Stellantis, Boeing, United Airlines, ARK Invest and Others; FAA Issues Archer Certificate to Begin Flying Midnight; On Track to Complete First Ever eVTOL Aircraft Customer Delivery Yahoo Finance
  4. Archer Aviation stock up 7% after Boeing investment MarketWatch
  5. Electric aircraft makers Wisk and Archer end bitter legal dispute, agree to work together TechCrunch
  6. View Full Coverage on Google News

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OpenAI CEO: Fully Remote Work for Startups is ‘One of the Tech Industry’s Worst Mistakes’ – Slashdot

  1. OpenAI CEO: Fully Remote Work for Startups is ‘One of the Tech Industry’s Worst Mistakes’ Slashdot
  2. Sam Altman lists the startup rules ChatGPT maker OpenAI broke on its way to a nearly $30B valuation Fortune
  3. Here’s what OpenAI CEO Sam Altman has to say on ‘work from home’ Times of India
  4. OpenAI changes AI strategy, won’t train ChatGPT on customer data, says Sam Altman Interesting Engineering
  5. Sam Altman lists the startup rules OpenAI was chided for breaking on its way to a nearly $30 billion valuation Yahoo Finance
  6. View Full Coverage on Google News

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Start-up fails first launch as rocket explodes off Alaska’s coast

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CNN
 — 

A rocket operated by a California-based start-up failed near the coast of Alaska Tuesday, marking yet another mishap for companies hoping to offer their services to launch scores of small satellites into orbit.

The privately held ABL Space Systems attempted to launch its RS1 rocket at 1:27 p.m. local time (5:27 p.m. ET) in Alaska. But the company confirmed shortly after that there was an “anomaly,” an aerospace term for an issue or misstep, and the rocket “shut down prematurely.”

“This is not the outcome we were hoping for today, but one that we prepared for. We’ll revert with additional information when available,” the company said in a tweet. “Thanks to all for the support.”

The mission was aiming to carry two small satellites to orbit for OmniTeq, which recently spun off its space division. The company signed an agreement for ABL’s first launch in 2021 when it was still operating under the name L2 Aerospace.

ABL’s launch attempt on Tuesday was the second failure in two days for a burgeoning new industry: ABL is one among a long list of companies pursuing the same market — offering relatively cheap and easy access to launch services for operators of small satellites, which in years past have had to wait for extra room to open up aboard larger rockets.

On Monday, Virgin Orbit, a direct competitor of ABL attempting to launch its first mission out of the United Kingdom, acknowledged that its air-launched rocket failed to reach orbit.

The core of the business model propped up by companies like ABL and Virgin Orbit is offering frequent rides to space and making the process more responsive to the needs of small satellite companies, including those that are essentially building massive constellations of satellites in low-Earth orbit for a variety of purposes, such as providing space-based internet or monitoring Earth’s climate and resources.

These small spacecraft include SmallSats, which are as big as a family-size kitchen fridge, and a popular subset of SmallSats called CubeSats, which are standardized, miniature satellites that can be smaller than a shoebox.

The start-ups build rockets that are much smaller than SpaceX’s workhorse Falcon 9 rocket, for example. But so far, the new class of smaller rockets have not proven to be as reliable as their larger counterparts. Nearly every start-up in the industry has suffered at least one launch failure.

In a packed field, ABL was hoping to join a short list of US-based ventures that have notched at least one successful mission. The first, in 2018, was Rocket Lab, which so far has more than two dozen successful launches and three failures. Start-ups Astra and Firefly have also delivered satellites to orbit — as well as suffered setbacks.

Those companies may soon be joined by yet another start-up, Relativity, which currently has its first rocket poised at a launch site in Florida.

While all these rockets dedicated to launching small satellites are taking off, they do face competition from larger rockets that have started catering certain services to the same market. SpaceX, for example, started a SmallSat “rideshare” business in 2019 with its hefty Falcon 9 rocket, and the company so far has launched six missions dedicated to small satellites for various customers.

The failed ABL launch Monday comes after the first few attempts to get its RS1 rocket off the ground in December came up short. The company worked through several technical problems, including a faulty sensor and a couple pressurization issues, to get the RS1 ready for Tuesday’s flight attempt.



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Several Top Rivian Executives Depart the Electric-Vehicle Startup

Several top executives at

Rivian Automotive Inc.,

RIVN -1.02%

including the vice president overseeing body engineering and its head of supply chain, have left the EV startup in recent months, as the company exits a year in which it fell short of its production targets.

The departures, confirmed by a Rivian spokeswoman, are the latest developments in what has been a challenging period for Rivian, which has been rolling out its first all-electric models but last year missed a critical milestone of manufacturing 25,000 vehicles. The company said it was off its goal by about 700 vehicles in part because of difficulty getting parts. 

Rivian’s stock has also tumbled since its blockbuster initial public offering in November 2021, down roughly 79% through Tuesday’s close. 

The executives who have left were some of Rivian’s longer-tenured employees. Among them is Randy Frank, vice president of body and interior engineering, and Steve Gawronski, the vice president in charge of parts purchasing. Both had departed around the beginning of this year. 

Mr. Frank joined Rivian in 2019 from

Ford Motor Co.

Mr. Gawronski joined in 2018 from the autonomous vehicle startup Zoox.

Another early employee, Patrick Hunt, a senior director in the strategy team, left the company late last year. Mr. Hunt joined Rivian in 2015.

Rivian’s general counsel, Neil Sitron, departed in September after 4½ years with the company, which was founded in 2009.

The Rivian spokeswoman said the company wants to ensure the startup has the talent and staff it needs to ramp up production. The company declined to comment on the individual circumstances of the departures. Efforts to reach the former employees weren’t immediately successful.

“We continue to attract world class talent to our company as our business needs change,” she said.

The departures mark the latest shake-up at the top of Rivian, which has brought in new executives to oversee the company’s manufacturing operations. The company’s first full year of factory production was marred by supply-chain troubles and difficulties getting the assembly line to run at full speed.

Tim Fallon, former head of

Nissan Motor Co.

’s factory in Canton, Miss., was hired in early 2022 to run Rivian’s sole factory in Normal, Ill.

In June, Rivian hired Frank Klein as chief operating officer, from contract manufacturer

Magna Steyr.

In a November email to employees reviewed by the Journal, Mr. Klein wrote that with Mr. Gawronski’s exit, the company was taking the opportunity to make some organizational changes to ensure it can support the increased complexity that the group will handle in coming years.

Mr. Klein added Rivian was reorganizing its supply-chain management, putting one vice president in charge of the supply chain and logistics, and another in charge of parts procurement.

He also announced that Rivian had hired Andreas Reutter from tool maker

Stanley Black & Decker Inc.

to oversee Rivian’s supply-chain logistics.

The changes at the top of Rivian come as it attempts to transform from an upstart looking to raise capital to a mass manufacturer with ambitions to become one of the world’s largest auto makers.

Rivian is under pressure to prove it can build its electric trucks at scale without having ramped up production before, as competition heats up from legacy auto makers. WSJ toured Rivian’s and Ford’s EV factories to see how they are pushing to meet demand. Illustration: Adam Falk/The Wall Street Journal

Its first all-electric models, the R1T pickup truck and R1S sport-utility vehicle, are relatively new. The company has only been building cars at its Illinois factory since late 2021. Before then, it had never built or sold a single vehicle for retail. 

As part of its expansion, Rivian went on a hiring spree, growing rapidly from about 1,200 workers in 2019 to around 14,000 employees by the summer of last year and has only recently begun creating positions that exist at many companies.

In April, Anisa Kamadoli Costa was hired as chief sustainability officer from jewelry maker Tiffany Inc. In October, Rivian hired a former Capital One Financial Corp. executive, Diane Lye, as its first chief information officer.

As Rivian has struggled to increase factory output, it has come under pressure to trim spending. Last summer, the company laid off around 6% of its workforce and cut spending on many of its programs. 

The company became focused on bringing production of its current set of vehicles up to speed. It also makes an electric delivery van that it sells to Amazon.com Inc. 

In an example of the young car maker’s shifting priorities, Rivian suspended negotiations with Mercedes-Benz AG over a proposed van partnership in Europe, which had been an expansion target for Chief Executive RJ Scaringe. Rivian said the decision came after re-evaluating its opportunities for growth.

The company reported a net loss of $5 billion for the first nine months of 2022, and its cash pile fell to $13.8 billion at the end of September, down from $15.46 billion in June. Rivian is scheduled to report its full-year results on Feb. 28.

Write to Sean McLain at sean.mclain@wsj.com and Nora Eckert at nora.eckert@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Startups spring from ashes of Big Tech purge

  • Mass tech layoffs spawn new wave of startups
  • Early-stage VC funding at around record levels
  • Echoes of dotcom crash that fueled Facebook, others

Jan 3 (Reuters) – Nic Szerman lost his job at Meta Platforms (META.O) in November, just two months after joining full-time, falling victim to a sweeping 13% reduction of its workforce as the advertising market cratered.

Days later he was back working, seeking investment for his own company Nulink, a blockchain-based payment company, and sent pitches to startup accelerator Y Combinator and Andreessen Horowitz’s cryptocurrency fund.

“As counterintuitive as it may sound, this layoff left me in a really good position,” the 24-year-old said. “Because I don’t have to pay back the sign-on bonus, I get four months of pay, and now I have time to focus on my own project.”

Szerman is part of a wave of would-be entrepreneurs who are emerging from the ashes of the mass job losses seen in Silicon Valley in the second half of 2022, according to venture capitalists.

U.S. tech giants including Meta, Microsoft (MSFT.O), Twitter and Snap (SNAP.N) have purged more than 150,000 staff, according to Layoff.fyi, which tracks technology job losses.

While overall venture capital (VC) financing fell 33% globally to about $483 billion in 2022, early-stage funding was robust, with $37.4 billion raised in so-called angel or seed rounds, in line with the record level seen in 2021, according to data from research firm PitchBook.

Day One Ventures, an early stage venture fund in San Francisco, launched a new initiative in November to fund startups founded by people who had been laid off from their tech jobs, touting the slogan “Funded, not Fired”.

The program aims to cut 20 checks for $100,000 by the end of 2022. Day One said it had received over 1,000 applications, most of them from people who were cut loose by Meta, Stripe and Twitter.

“We’re investing $2 million in 20 companies – if we just find one unicorn it almost returns the fund, which I think is a really unique opportunity for us as fund managers,” said Masha Bucher, co-founder at Day One Ventures.

“Looking at the last economic cycle, companies like Stripe, Airbnb, Dropbox have been created in crisis.”

HOT: GAMING AND AI

Also in November, multi-stage fund Index Ventures, which has bankrolled Facebook, Etsy and Skype, launched its second Origins fund, which will invest $300 million in early-stage startups.

Silicon Valley investor U.S. Venture Partners and Austrian VC firm Speedinvest have meanwhile earmarked a similar amount for newly founded companies.

Investors highlighted gaming and artificial intelligence among hot areas of interest.

“With advances in game design, new innovations like cloud gaming, and the emergence of social networking in this sphere, gaming has really transcended into mainstream culture,” said Sofia Dolfe, partner at Index Ventures.

“In every period of economic uncertainty, there is opportunity – to reset, re-prioritize and re-focus energy and resources.”

DOTCOM BUBBLE 2.0

Szerman said his project was rejected by Y Combinator, while he hasn’t heard back from Andreessen Horowitz yet, though he added that other early-stage venture capitalists had expressed interest.

“I told the investors we’ll chat in two or three months,” he added. “I’ll focus on scaling the system now.”

Some investors compared the 2022 downturn to the dotcom crash of the early 2000s, when dozens of overvalued startups went bust, flooding the market with talent and helping to spark a wave of new companies such as Facebook and YouTube.

“Many great companies have been created in relatively dark times,” said Harry Nelis, partner at investment firm Accel, who sees a new generation of risk takers emerge among the swathe of people left unemployed.

Some industry players say former Big Tech employees are uniquely placed to start their own companies, having seen first-hand how some of the biggest firms in the world operate, and enjoying ongoing access to their network of highly skilled colleagues.

One former Googler has sought to help others like him looking for life after technology giants. In 2015, Christopher Fong, who spent almost a decade working for the tech titan in California, launched Xoogler, a project designed to help former employees hoping to start their own companies. Since then, the group’s membership has since swelled to more than 11,000.

Fong told Reuters that experience in Big Tech firm gave founders a “strong brand that can be leveraged to meet investors, potential customers, and recruit team members”.

(This story has been refiled to correct Harry Nelis’ designation to partner from managing partner in paragraph 19)

Reporting by Martin Coulter in London, Supantha Mukherjee in Stockholm and Krystal Hu in New York; Editing by Pravin Char

Our Standards: The Thomson Reuters Trust Principles.

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Crypto Entrepreneurs Fail to Capture Elon Musk’s Attention With $600,000 Goat Statue

AUSTIN, Texas—Even as a cold night started to settle outside

Tesla

‘s headquarters here on Saturday, a group of cryptocurrency entrepreneurs had no plans to leave until

Elon Musk,

the man they named their currency after, accepted a 12,000-pound sculpture of a Mr. Musk-headed goat riding a rocket.

It is the latest stunt in the cryptocurrency space, where jokes and memes about digital currencies regularly flood social media. But a 6-ton sculpture as a marketing gimmick isn’t so common.

The creators of Elon GOAT say the name of their cryptocurrency was inspired by their respect for Mr. Musk. They and his other fans think he is the “greatest of all time,” or a “GOAT.” They took the admiration literally, spending $600,000 to create a sculpture of Mr. Musk’s head, wearing a gold-plated dogecoin necklace on a goat’s body. The rocket can move, pointing to the sky as if it is taking off. Gas lines run through it so that flames can shoot out of the back.

They trucked it to

Tesla Inc.’s

headquarters, in hopes Mr. Musk would accept the gift. The creators are calling called the event “GOATSgiving.”

Elon Musk has warned of dire financial challenges facing Twitter, the social-media company he took over for $44 billion in October. WSJ’s Mark Maurer explains how the company is trying to fix its finances and avoid a potential bankruptcy. Photo Illustration: Laura Kammermann

But about two hours after the co-founders of Elon GOAT parked the sculpture right outside the Tesla building, there was no sign of Mr. Musk.

Dustin Dailey, a security officer at Tesla, walked over to a group of about 15 people and said they couldn’t accept the sculpture on Mr. Musk’s behalf, but would find a spot for it on their property if Mr. Musk gave the thumbs-up.

But so far Mr. Musk hasn’t given any indication he would accept it or whether he knew the sculpture was there. Tesla didn’t respond to a request for comment

“I am fairly certain he does know about it,” said Mr. Dailey of the sculpture. “It’s all over Twitter.”

SHARE YOUR THOUGHTS

What do you think of the Elon Musk goat sculpture? Join the conversation below. 

Alec Wolvert, an Elon GOAT co-founder and chief marketing officer, said they were planning on camping out on a piece of public land off a toll road that overlooks the headquarters until Mr. Musk accepted the sculpture.

“We’re gonna stay here as long as possible,” Mr. Wolvert said. “I even heard some people say they were going to strap themselves to it.”

The idea of the sculpture came together last year. “It was an evening joke that kind of just came to fruition,” said

Ashley Sansalone,

an Elon GOAT co-founder.

Metal sculptor Kevin Stone spent nearly six months working on the sculpture of Elon Musk.



Photo:

Kevin Stone

The cryptocurrency entrepreneurs asked Kevin Stone, a metal sculptor in British Columbia, Canada, to make the giant sculpture with Mr. Musk’s head. The goal: to get Mr. Musk to tweet about the sculpture to his more than 118 million followers and draw attention to their cryptocurrency, the Elon GOAT.

“Elon tweeting us would legitimize the token,” said Mr. Sansalone, 40 years old.

Mr. Sansalone said he works on the token full time and previously ran a construction company and traded energy. Unlike bitcoin, ether or dogecoin, the Elon GOAT token is far from a household cryptocurrency name. It is ranked well outside the largest cryptocurrencies by market value, according to CoinMarketCap.

Mr. Musk’s head, which took nearly six months to complete was made by Mr. Stone. The goat body and rocket were made by others in Phoenix to speed up the project, Mr. Sansalone said. Then all the pieces were put together and attached to the back of a 70-foot long semi-truck trailer.

“When I first saw the statue my jaw dropped,” said DeMarco Hill, 51, who spotted it in September in Goodyear, Ariz., where he lives. He grabbed his 12-year-old son and they followed it. “It was something you’ve never seen before in your life.”

Mr. Hill, a trucker who owns his own company, Stay Ready Trucking, thought the stunt was so entertaining that he found Mr. Sansalone and asked if he could participate. Mr. Sansalone said Mr. Hill was needed because only someone with a special license could drive around the heaping pile of metal.

He has since driven the sculpture through California, Arizona and Washington, before bringing it to Texas. People who drive by honk their horns or give a thumbs-up, Mr. Hill said. 

“If I pull up to the side of the road it’s like people crowding around,” he said. “It gets crazy.”

Mr. Sansalone said the sculpture has mostly gotten a positive response. He hasn’t heard anyone mistaken Mr. Musk’s face for someone else. “I would say he is probably the most relevant person on the planet right now,” Mr. Sansalone said about Mr. Musk, the world’s richest person who recently bought Twitter Inc. for $44 billion.

In September, the sculpture sat in front of Tesla’s office in Palo Alto, Calif., during the company’s artificial-intelligence conference. Tesla employees crossed the street to take pictures with the sculpture, Mr. Sansalone said. Mr. Musk was at the conference, according to Twitter posts he made, and Mr. Sansalone assumes the billionaire saw the sculpture. 

“All there was to look at was a lit-up rocket erected in the middle of the street,” he said. 

On Saturday night, the group remained hopeful.

At one point in the evening, a group of about 20 people who were waiting outside started to chant “Elon claim your goat” in the hopes that the god of crypto, as one co-founder put it, would hear them.

“I’m a huge fan of Elon and I want to give this man his flowers while he’s alive,” said Aamir Manzoor, a 36-year-old from Toronto who is a holder of Elon GOAT. “He’s done a lot for the world.”

Write to Joseph Pisani at joseph.pisani@wsj.com, Alyssa Lukpat at alyssa.lukpat@wsj.com and Adolfo Flores at adolfo.flores@wsj.com

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Continuous glucose monitor startups still have to prove their worth

I have rarely, if ever, thought about my blood sugar. I think about sugar on occasion — the dentist demands it, and I get a headache when I eat an entire bag of Haribo dinosaur gummies. 

But a new spate of startups wants me, and everyone, to start thinking about our blood sugar all the time. Over the past few years, companies like Levels, January, and Nutrisense started selling programs that promise to help people start managing their blood sugar levels. They sell devices called continuous glucose monitors: small sensors that embed a tiny needle in someone’s body to track the way their blood sugar (their glucose) levels rise and fall. 

Continuous glucose monitors (CGMs) are usually used by people with Type 1 diabetes, a chronic condition where the body doesn’t produce the insulin needed to break down blood sugar. For them, keeping track of the amount of sugar in their blood is vital so they can give themselves insulin. 

These companies say that people without diabetes should also track their blood sugar levels. They point to research showing that most Americans are metabolically unhealthy, a designation that accounts for blood pressure, blood sugar, waist size, cholesterol, and triglycerides. Keeping tabs on blood sugar, and taking steps to bring it down, can improve metabolic health and help people lose weight. 

“There are some basics that, if everyone followed, the country would be healthier,” says Lauren Kelley-Chew, the head of clinical product at glucose monitor company Levels. “Specifically, trying to limit high blood sugar spikes and trying to keep blood sugar within a relatively healthy range.”

These applications are new, and there still isn’t clear evidence that wearing a CGM can help people lose weight or fix metabolic problems. Many experts on obesity and metabolic disorders (like diabetes) aren’t convinced we know enough yet to recommend them. But that’s the pitch — wear a monitor, figure out which foods spike your blood sugar, and avoid them. 

I don’t have any medical conditions that impact my blood sugar or my insulin levels. When I eat something that changes my blood sugar, my body regulates it on its own. My friend John, though, lives with Type 1 diabetes. He was diagnosed with diabetes as a small kid and, for most of his life, has monitored his blood sugar with finger sticks around six to eight times per day. However, he’s used a continuous glucose monitor on and off since around 2011, giving him a constant stream of blood sugar data.

John and I wanted to compare what it was like to use the monitor as someone without diabetes, like me, and someone living with Type 1 diabetes, like him — the medical use of the devices versus the wellness, startup approach. So I ordered a kit from Levels, and for the same week in October, we kept track of the information we were getting from our continuous glucose monitors and the things we did in response. Here’s how it went. 

For someone without diabetes, fasting glucose — or blood sugar after not eating all night — is usually between 70 and 100. Someone with prediabetes or diabetes would have higher fasting glucose: between 100 and 126 for prediabetes and over 126 for diabetes. 

During the day, most people without diabetes have blood sugar levels between 70 and 140 outside of meals. Things rise with food and fall during the hours after eating. People with diabetes try to stay in a similar range, between 70 and 180, for as much of the day as possible. 

But despite those general guidelines, there’s still a lot researchers don’t know about what blood sugar levels, ranges, and responses actually look like, particularly after eating. People without diabetes can have a wide range of blood sugar responses to the same foods. Some people have large swings in glucose levels, while others stay more steady. 

The main message in the Levels app is to keep your blood sugar steady. The app rewards you for staying “stable” and drops in warnings when things start to spike. Each food logged gets a score for how much it spiked blood sugar. The goal is to have the glucose changes with food be “rolling hills,” rather than steep mountains. 

With that goal in mind, the app feeds you insights when you log some foods. It told me bagels were “glucose spikers.” Another day, it told me I should avoid oatmeal because it’s a refined carbohydrate. “Try chia pudding instead,” the app said. 

Exercise can lower blood sugar because the activity helps cells more effectively pull glucose out of the bloodstream. Levels encourages exercise; every time there’s a blood sugar spike, it nudges a user to go for a walk. “There are a few different things that can help most of us when it comes to glycemic control,” Mike DiDonato, the head of member success at Levels,” told me. “One of them is just the power of being active: going for a walk, doing some air squats, whatever is good for you.” 

The app also nudges people to make food swaps (like rice for cauliflower rice) and suggests recipes. It also suggests brands, like the screen directing me toward Primal Kitchen. DiDonato says the nudges aren’t paid advertisements — they’re just companies Levels employees like. 

It’s counterintuitive that a food that has the nutritional value of a cookie or pizza — lots of carbs, sugar — wouldn’t cause spikes in blood sugar. Both the cookie and the pizza had lower and gentler blood sugar spikes than the homemade lentil and eggplant situation I also ate during my week of using Levels. That meal, full of veggies and fiber, gave me my biggest glucose spikes all week. 

DiDonato says context is important. “Isolated events rarely tell the whole story,” he says. Eating something with fat or protein before eating a cookie might curb a spike. Alcohol can actually decrease blood sugar levels, he says. Blood sugar might act differently at different times of the day. “One of the things we’ve always tried to do is provide context,” DiDonato says. 

Glucose monitoring for people without diabetes is likely more than just a passing trend. Tech companies like Apple and Fitbit are interested in blood sugar, and groups are looking to develop noninvasive ways to measure glucose — which could allow them to be part of smartwatches or other wearable devices. It’s important, then, to scrutinize groups marketing glucose monitors to everyone right now to figure out what that type of information can actually do for people. 

After a week of using the continuous glucose monitor and the Levels app, I learned a few things about my body and my blood sugar levels. Bagels spike my blood sugar. So do lentils. Eating a meal after going to the gym caused a lower spike than eating that same meal without going to the gym first.

Overall, my blood sugar stayed within the range of what research shows people without diabetes generally experience: spending the vast majority of the time with glucose levels between 70 and 140, with occasional excursions outside of that range that my body quickly corrects. 

Still, armed with that information from the Levels program, I could adjust my dietary and exercise habits to try and keep my blood sugar as low as possible. I could walk before meals and avoid simple carbs. Kelley-Chew from Levels says that type of adjustment would make me healthier in the long run. “What we currently believe is optimal is for blood sugar to stay, in general, below 110,” she says. “And also, for any given meal, to try to limit the increase in blood sugar to about 30 points or less.”

The Levels team bases its recommendations in part on a study showing that glucose levels stay around 110 to 120 in young, healthy adults after meals. Based on that research, it’s “a reasonable goal to strive for,” Levels said in a blog post. The company says fasting glucose levels should be 72 to 85, citing research that shows people with higher fasting glucose levels (even if they’re under 100) have a higher risk of dying of heart disease or developing Type 2 diabetes. Kelley-Chew also says people using Levels report losing weight, having more energy, and seeing improvements in their mood. 

But other researchers say that it’s too soon to say if adjusting blood sugar will lead to any health improvements. For someone who doesn’t have diabetes, keeping track of blood sugar response could be a useful educational tool, but it’s not clear if it’ll have major health impacts. 

“In terms of overall health, if you’re keeping your blood sugar at 110, I’m not sure you’re going to be affecting long-term outcomes or healthcare costs or quality of health,” says Nicole Ehrhardt, an endocrinologist specializing in diabetes care at the University of Washington. 

There also isn’t evidence outside of anecdotal experiences that managing blood sugar spikes could help people lose weight, which is part of the marketing pitch for companies like Levels, Nutrisense, and Signos. 

“The idea that a lower blood sugar and not having spikes leads to weight loss has not been seen,” says Mitchell Roslin, a bariatric surgeon at Lenox Hill Hospital in New York City. “We have no idea what normal looks like or what a curve that promotes weight loss is.”

For its part, the Levels team says it recognizes that research is still limited. Still, it says that diets high in sugar can disrupt metabolic health and increase the risk of chronic health conditions. “While aiming for relatively stable blood sugar is not by any means the only answer to optimal health, working toward it very likely has benefits,” spokesperson Josh Crist said in a statement.

If studies end up showing benefits, making changes to keep glucose levels steady using a continuous glucose monitor is difficult. People at risk for diabetes or who have Type 2 diabetes who use continuous glucose monitors tend to only see small improvements in their glucose levels, Ehrhardt says. There’s still limited research to show if wearing these devices leads to behavioral changes for people with prediabetes or Type 2 diabetes that could improve their blood sugar. 

Even for John, the continuous glucose monitor isn’t a panacea for managing blood sugar levels. 

“The promise of the CGM is that more data can lead to more informed decisions and ultimately narrow the bounds of that unpredictability. But I have a sense of constant unpredictability with Type 1 diabetes that the steady stream of data still hasn’t, at least for me, done much to mitigate.

In theory, blood sugar is determined by a few manageable components — insulin, exercise, food, time — yet to me, it still often feels hard to know what these inputs even are, much less predict how they will interact with one another. I sometimes have a nagging feeling that I could be doing more — that if I just paid closer attention or changed my insulin delivery settings more often or standardized the times at which I eat and exercise and sleep more exactly, I could lower the amount of variability. To an extent, it’s probably true, but it’s frustrating that the more technology there is, the more time I seem to spend thinking about diabetes, not less.”

Outside of those criticisms, though, companies like Levels are helping build a body of knowledge around glucose trends in people without diabetes — which researchers still don’t know much about. They’re running studies with users: Levels, for example, is aiming to enroll 50,000 people in a study that will track blood sugar patterns in people without diabetes through their day-to-day lives. “We expect that we will dramatically increase our knowledge about blood sugar patterns, blood sugar, baselines, and just glycemic control and metabolic health in general,” Kelley-Chew says.

It’s still early days — which even people promoting the devices recognize. “We all need to be humble here and understand the fact that research is emerging,” says Kelley-Chew.

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TuSimple Fires CEO Xiaodi Hou Amid Federal Probes

TuSimple Holdings Inc.,

TSP -46.16%

a self-driving trucking company, said Monday it had fired its chief executive and co-founder,

Xiaodi Hou.

The San Diego-based company said in a news release and securities filing that its board of directors on Sunday had ousted Mr. Hou, who was also the board chairman and chief technology officer. 

Mr. Hou was fired in connection with a continuing investigation by members of the board, the release said. That review “led the board to conclude that a change of Chief Executive Officer was necessary,” the company said in the release.

The securities filing said that the board’s investigation found that TuSimple this year shared confidential information with Hydron Inc., a trucking startup with operations mostly in China and funded by Chinese investors. The filing also said that TuSimple’s decision to share the confidential information hadn’t been disclosed to the board before TuSimple entered into a business deal with Hydron.

TuSimple said it didn’t know whether Hydron shared, or publicly disclosed, the confidential information, the securities filing said.

Messrs. Hou and Chen didn’t immediately respond to a request for comment.

Mr. Hou’s termination was announced the day after The Wall Street Journal reported TuSimple and its leadership, principally Mr. Hou, faced investigations by the Federal Bureau of Investigation, Securities and Exchange Commission and Committee on Foreign Investment in the U.S., known as Cfius, into whether the company improperly financed and transferred technology to a Chinese startup, according to people with knowledge of the matter.

TuSimple’s stock plunged more than 44% Monday. Shares in the company are down more than 90% for the year. 

Investigators at the FBI and SEC are looking at whether Mr. Hou breached fiduciary duties and securities laws by failing to properly disclose TuSimple’s relationship with Hydron, the China-backed startup founded in 2021 by TuSimple co-founder Mo Chen that says it is developing autonomous hydrogen-powered trucks, the Journal reported. Federal investigators are also probing whether TuSimple shared with Hydron intellectual property developed in the U.S. and whether that action defrauded TuSimple investors by sending valuable technology to an overseas adversary.

The Journal also has reported that the board in July began investigating similar issues, including whether TuSimple incubated Hydron in China without informing regulators, the TuSimple board or its shareholders, said other people familiar with the matter. A June business presentation from Hydron viewed by the Journal named TuSimple as Hydron’s first customer, and said TuSimple would purchase from Hydron several hundred hydrogen-powered trucks equipped with self-driving technology. A TuSimple spokesman said the company has considered an agreement to buy freight trucks from Hydron but isn’t a Hydron customer. 

TuSimple’s securities filing on Monday said that TuSimple employees worked for Hydron and were paid, earning less than $300,000. The board wasn’t aware of this nor had members approve it, the filing said. Mr. Chen, who founded and leads Hydron, is TuSimple’s largest shareholder, owning about 11.8% of the company, according to FactSet.   

Mr. Hou’s dismissal follows months of upheaval at the company, including the departures of its chief financial officer and chief legal officer and a sharp drop in its stock price. Much of the turmoil began when Mr. Hou took over as CEO in March, said former employees. 

In April, one of TuSimple’s autonomous semi trucks crashed on an Arizona freeway. The accident revealed safety and security problems at TuSimple that former employees said leadership had dismissed, the Journal reported in August. 

The company said

Ersin Yumer,

TuSimple’s executive vice president of operations, will serve as interim CEO while the board searches for Mr. Hou’s successor. Mr. Yumer previously worked on autonomous-vehicle technology at

Aurora Innovation Inc.,

Uber Technologies Inc.

and Argo AI, the autonomous-driving venture partly owned by

Ford Motor Co.

and

Volkswagen AG

that was shut down recently. Independent board director

Brad Buss,

the former chief financial officer at SolarCity Corp. and Cypress Semiconductor Corp., will be chairman, TuSimple said.

TuSimple said it would release its third-quarter earnings on Monday after the market closes. The earnings release was previously scheduled for Tuesday. The company, ahead of the results, said it remained on track to meet the full-year guidance disclosed in August, including ending the year with a cash balance of about $950 million.

Write to Heather Somerville at heather.somerville@wsj.com and Kate O’Keeffe at kathryn.okeeffe@wsj.com

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SoftBank Considers Launching a Third Vision Fund

Global tech investor

SoftBank Group Corp.

is considering the launch of a new giant startup fund after ill-timed bets and massive losses weighed down two earlier attempts to dominate startup investing, according to people familiar with discussions at the company.

The Tokyo-based tech conglomerate, by far the world’s largest startup investor in recent years, would likely use its own cash for what would be the third SoftBank Vision Fund if it moves ahead with the plan, some of the people said.

The company is also considering putting additional money into Vision Fund 2, its main investment fund for the past few years, instead of starting a new fund, one of the people said. Vision Fund 2 is currently worth less than the investment that went into it. Those losses significantly reduce the pay for SoftBank staff working on the fund—a factor in its decision making. The company expects to make a decision in the coming months, the people said. 

SoftBank, led by Chief Executive Officer

Masayoshi Son,

has been hit particularly hard by the rout in tech valuations that began last fall, posting a record $23 billion loss in the three months ended in June. 

Much of that red ink is a product of its first two Vision Funds, the startup investment unit that Mr. Son formed in 2017 in a bid to dominate the venture sector. The $100 billion initial Vision Fund, which raised $60 billion from Saudi and Emirati wealth funds, was beset by giant soured bets on companies including WeWork Inc. and

Didi Global Inc.,

leading to meager gains over five years. 

The successor Vision Fund 2, funded by SoftBank and intended to be more cautious, is now worth 19% less than the $49 billion it invested, after accelerating its spending just as valuations peaked on companies including fintech Klarna Holdings AB. 

Chief Executive Officer Masayoshi Son has been hit particularly hard by the rout in tech valuations.



Photo:

Neil Hall/REUTERS

Mr. Son told investors in August he was “quite embarrassed and remorseful” after having gotten caught up in the frenzy, and he has substantially cut back spending on startups. Still, he has said he is committed to the startup and tech sector long term and eventually plans to increase spending again.

Mr. Son and SoftBank have tried to chart a new path forward after the market turned against unprofitable tech investments. He has also faced a string of departures of top staff. In July, the company said

Rajeev Misra,

who led the Vision Fund since it was created in 2017, would step back from his role overseeing new investments as he starts his own fund. 

Despite the misses, SoftBank expects to have more cash coming in over the next year, from a public listing of its chip maker Arm. Its Japanese telecom holdings also generate cash. 

Still, analysts and investors say the company’s options are more limited than in the past. Mr. Son has been selling down SoftBank’s stake in Alibaba Group Holding Ltd. and its telecom holdings, and funding a large stock-buyback program. The result has been an increasingly concentrated bet on startups, where results have been disappointing. 

Among those pushing for a new fund are some employees of the Vision Fund. A new fund would be a way to reset their compensation, which is partly based on profits at the fund and its investments, one of the people familiar with discussions said. The current fund would require making back large losses before employees could get those bonuses. A new fund would put profits closer in reach. The company is also considering restructuring staff incentives for Vision Fund 2. 

The size of the new fund couldn’t be determined. 

Mr. Son personally takes a hit with Vision Fund 2 in the red because of a $2.6 billion personal commitment he made. Based on the terms of the investment, Mr. Son didn’t put up the money himself but owes SoftBank if the fund ends up performing poorly.

The unusual investment has been criticized by some investors and analysts who say it could skew Mr. Son’s motivations given a structure that could make him more focused on Vision Fund 2 than on other investments. Mr. Son, who owns over one-fourth of SoftBank, has said the structure better aligns him with the investment fund.

SoftBank structured its arrangement in a way that allows the company to get repaid on most of its investment before Mr. Son. About $33 billion of its commitment to Vision Fund 2 is in preferred equity.

While that structure would have led to outsize profits for Mr. Son if Vision Fund 2 did well, today it means particularly large losses because the fund is underwater. Mr. Son currently owes $2.1 billion on the investment, SoftBank disclosures show. He is charged a 3% annual interest rate on his unpaid balance to SoftBank.

From the Archives: SoftBank’s longtime strategy of dumping mountains of cash on promising young companies to create big winners failed dramatically at WeWork and is inviting scrutiny into the fund’s other investments. Here’s a look at Vision Fund’s structure, and how its fast-paced investment strategy could make it risky.

Write to Eliot Brown at Eliot.Brown@wsj.com and Julie Steinberg at julie.steinberg@wsj.com

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