1. Home
  2. Discover
  3. Business
  4. PitchBook News

PitchBook News - The GPs embracing ChatGPT

Plus: VC keeps its concentration, breaking down the recession question, unicorn sightings rise in Europe & more
Read online | Don't want to receive these emails? Manage your subscription.
PitchBook
Log in
The Weekend Pitch
February 19, 2023
Presented by Masterworks
(Drew Sanders/PitchBook News)
The recent hype around AI had a dose of reality when users revealed several flaws in Microsoft's new AI Bing search.

Powered by ChatGPT, a jaw-dropping AI tool launched by startup Open AI in November, the service threatens to upend internet search. But it also has a penchant for generating wrong, and often unnerving, answers. Similar issues were found with Bard, a rival product that Google hastily announced after it was caught napping by Bing and ChatGPT. The debacle wiped $100 billion off parent company Alphabet's market value.

The technology has some way to go, but generative AI, which uses deep learning and natural language processing models to produce new data, is still likely to have a big impact not just on internet searches, but on many other industries. Private markets will be no exception.

Welcome back to The Weekend Pitch. I'm Andrew Woodman, and you can reach me at andrew.woodman@pitchbook.com or on Twitter @adwoodman.

Just as venture capital and private equity firms both seek to back the next disruptors in AI, they themselves will face disruption. AI is already proving to be an invaluable tool for private market professionals in identifying new opportunities, streamlining back-office functions and expediting dealmaking. At the same time, there are concerns that the adoption of AI will have unintended consequences as it creates redundancy and potentially magnifies systemic biases.
read more
 
Share: Email LinkedIn Twitter Facebook
 
A message from Masterworks  
$500k+ portfolio investors hedge 'earnings avalanche' with this safe haven
The "soft landing" myth is about to erupt. After a brutal earnings season, a scant 2.6% of S&P 500 companies now have positive earnings outlooks.* The race is on to diversify from stocks.

Discerning investors are increasing their exposure to the one asset class that outpaced the S&P 500 by 131% over the last 26 years: blue-chip art.

While this all-weather asset was once the domain of only the ultra-rich, Masterworks has created an easy-to-use platform that's allowed 625,000+ users to discover this exclusive, wealth-generating asset.

Even better, they've delivered 11 straight successful exits since 2019, including 10 that netted double-digit annualized returns.

Offerings can sell out in minutes, but PitchBook readers can skip the waitlist with this exclusive link.

*Morningstar data

"Net Return" refers to the annualized internal rate of return net of all fees and costs, calculated from the offering closing date to the date the sale is consummated. IRR may not be indicative of Masterworks paintings not yet sold and past performance is not indicative of future results. See important Regulation A disclosures at masterworks.com/cd.
Share: Email LinkedIn Twitter Facebook
 
 

OurCrowd's
Global Investor Summit
(Courtesy of Tomer Foltyn)
Climate tech, generative AI and ongoing relations in the Middle East were among the topics highlighted by attendees at OurCrowd's 2023 Global Investor Summit.

Over 9,000 people gathered in Jerusalem to discuss the latest startup and technology trends.
read more
 
Share: Email LinkedIn Twitter Facebook
 

Trivia
Do you know that Scotland's national animal is the unicorn? According to our analysts, unicorn sightings across Europe rose in 2022 to the second-highest figure on record. Just how many billion-dollar, VC-backed companies emerged in Europe last year?

 A) 78
 B) 29
 C) 11
 D) 47

Find your answer at the bottom of The Weekend Pitch!
 

The path ahead
(bht2000/Shutterstock)
Soft landing, reflation, recession or stagflation?

Our recent analyst note dives into the question on everyone's mind and breaks down the relative likelihood of each of these scenarios, how they might unfold and their potential effects on the private markets.

Want a hint? Our analysts think the probability of a recession is much higher than market pricing might indicate.
 

Capital concentration
At the start of the pandemic, many expected the lockdowns would signal a great movement of capital away from the hubs of New York City and the San Francisco Bay Area. But three years on, our analysts find not much has changed.
 

Emerging tech roundup
(Anton27/Shutterstock)
Technology and startups are moving fast, making it harder to keep up with the players, figures and deals you need to know. Catch up with our emerging tech reports with complete 2022 data:
 

Quote/Unquote
"With developing countries facing unprecedented crises, I'm proud that the Bank Group has responded with speed, scale, innovation, and impact. The last four years have been some of the most meaningful of my career. Having made much progress, and after a good deal of thought, I've decided to pursue new challenges."

—World Bank Group President David Malpass, announcing his resignation. He had come under fire for his comments on climate change.
 

Stay tuned
Keep an eye out for these insights and research reports coming out this week.
  • 2022 Global Private Market Fundraising Report

  • Q4 2022 Gaming Report
 

Recommended Reads
The Spanish firm that can "erase your past" from the internet. [The Guardian]

How a quarter-million fired tech workers are picking up the pieces. [The Information]

Inside Tracy Anderson's fitness empire. [Business Insider]
 

Trivia
Scotland's HMS Unicorn (Atmosphere1/Shutterstock)
Answer: D)

47 new unicorns emerged in Europe in 2022, the second-highest recorded, according to our annual European VC Valuations Report

This edition of The Weekend Pitch was written by Andrew Woodman, Emily Burleson and Jacob Robbins. It was edited by James Thorne and John Moore.

Were you forwarded The Weekend Pitch? Sign up at pitchbook.com/subscribe.
 
Since yesterday, the PitchBook Platform added:
13
People
3
Companies
See what our data software can do
 
About PitchBook | Terms of use | Advertise with us | Contact
Follow us: in twtr fb

This email was sent to you via the PitchBook Platform.

Do you want to change your email address, get a different edition or unsubscribe? Manage your subscription here.

© 2023 PitchBook. Win what's next. All rights reserved.

Key phrases

natural language processing models new AI Bing search The Weekend Pitch parent company Alphabet many other industries private equity firms private market professionals jawdropping AI tool

Older messages

The concentration of VC

Saturday, February 18, 2023

Also: The latest valuations data across the US and Europe; New emerging tech updates on carbon & emissions tech, crypto, and supply chain tech... Read online | Don't want to receive these

Ranking 2022's busiest investors

Friday, February 17, 2023

VC's capital concentration; R-Zero scores $105M; Camber Creek closes $100M+ proptech fund; NextKidney nabs nearly $13M Read online | Don't want to receive these emails? Manage your subscription

Supply chain tech extends cooldown

Friday, February 17, 2023

Q&A: Challenges for LGBTQ+ founders; VC valuations ebb, flow; Curie.Bio raises $500M+ across two funds; Juniper Square banks $133M Read online | Don't want to receive these emails? Manage your

Warning signs for European VC

Friday, February 17, 2023

SignalFire rakes in $900M across funds; healthcare services' shaky outlook; is the UK supporting tech startups?; Loam Bio nabs $73M for carbon farming Read online | Don't want to receive these

Carbon tech defies downturn

Tuesday, February 14, 2023

What patents portend for startups; China's Zeekr drives off with $750M; CaPow powers up with $7.5M; Kenya's BuuPass bags $1.3M Read online | Don't want to receive these emails? Manage your

You Might Also Like

Play and Earn with Dimension X; Elixir Games Season Pass; The Machines Arena Open Beta; Worldshards dropping NFTs during early access; Life Beyond preview and more in Play to Earn Newsletter #225

Saturday, April 27, 2024

April 27, 2024 Play and Earn with Dimension X; Elixir Games Season Pass; The Machines Arena Open Beta; Worldshards dropping NFTs during early access; Life Beyond preview and more in Play to Earn

Tomorrow is the end of the line for you

Saturday, April 27, 2024

This streamlined, intuitive system that will revolutionize the way you build your business and do so quick as lightning View in browser ClickBank You've probably heard how ChatGPT's artificial

More Startups Have Fallen Out of Product-Market Fit

Saturday, April 27, 2024

Out of Product-Market Fit To view this email as a web page, click here saastr daily newsletter More and More SaaS Startups Have Fallen Out of Product-Market Fit By Jason Lemkin Thursday, April 25, 2024

Snowflake's Mission: Demolishing Data Limitations in the Era of Enterprise AI

Saturday, April 27, 2024

Unveiling the Tech Specs, Leadership Changes, Trends and Future Prospects ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

How PE cash flows have changed

Saturday, April 27, 2024

Also: Global M&A dealmaking on the mend after two years of decline; Our insights from Paris Blockchain Week; Emerging Space Brief: Quantum Sensing... Read online | Don't want to receive these

'Do Things That Show You Care'

Saturday, April 27, 2024

We spoke with former Siena College Basketball Head Coach and Daily Coach Network member Carmen Maciariello about the fast-evolving nature of the profession and the importance of paying back those who

Migrant labour marches into the line of fire

Saturday, April 27, 2024

Indian migrant workers have a long history of repression and poor treatment. In 2024, nothing has changed. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

Opt-in form for Medium posts

Saturday, April 27, 2024

Today's hack Opt-in form for Medium posts: make a PNG printscreen of your opt-in form, embed it with a link to the opt-in page While looking for the next tasty hack, I was reading this article,

This 19-page website is on track to earn $200,000 in its first year

Friday, April 26, 2024

...mostly on auto-pilot ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Videos that drive results

Friday, April 26, 2024

Today's Guide to the Marketing Jungle from Social Media Examiner... Presented by Social Media Marketing World logo It's 🥨 National Pretzel Day, Reader! Do you like them soft or crispy? In