Weekly newsletter on technology, startups, and venture capital.

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Written by Chris McCann, General Partner @ Race Capital. More about me.

• A primer on how LLMs work technically. 
• An update on the state of open source LLM models. TLDR they aren’t quite up to full ChatGPT level quality, but they are getting close.
• The Apple / Goldman Sachs credit card has 10M+ users.
• 20% of all the VC deals in Q2 2023 were down rounds according to Carta; however, the number of large stage deals is up from the lows. 
• Lessons learned from a founder with a failed startup in the data space. TLDR - Knowing exactly who your customer is (ICP) and having a sharp value prop, is super important.
• Here are some of the top B2B/Enterprise products categorized by their average selling price (ACV). Interestingly, it shows you can create a great startup with a high priced product (Snowflake $175K+ ACV) or a low priced product (Figma ~$17K ACV).

• By Company: Databricks, GoodNotes, Zeet, Polysign, Opaque, Lightning Labs, OtterTune, and more
• By Role: Engineering, Data Science, Product, Design, Operations, Finance, Legal, and more
• By Location: SF Bay Area, New York, London, and Remote
• Browse more open roles across our portfolio at Race Capital's Portfolio Job Board.

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