- Backed Founders
- Posts
- 🚀 Buffet Dumped $6.2B Stock
🚀 Buffet Dumped $6.2B Stock
PLUS: Canva subscription increased by 300%, Brazil's $9,000 fine for VPN users
Dear founder, here’s your 3-minute recap (without the fluff):
Guidde: Effortlessly create branded, AI-powered training and documentation that elevates your team and delights your customers*
Warren Buffett's Berkshire Hathaway has sold $6.2 billion worth of Bank of America stock in under 2 months, reducing its stake in the bank by 14.5% (link)
Canva is drastically increasing prices for its AI-powered design features, angering some users (link)
VPN demand surges in Brazil despite legal threat to fine users nearly $9,000 a day for using workarounds to access banned social media platform X (link)
New tools, resources, funding updates & job postings
TOGETHER WITH GUIDDE
Tired of clunky documentation that no one reads? Guidde turns your expertise into engaging, interactive content that actually gets used.
Here's what Guidde brings to the table:
AI-Powered Simplicity: Input your know-how, and watch it become sleek, branded videos.
Always Current: Update content on the fly, keeping your team and customers in sync.
Effortless Scaling: Onboard faster, train smarter, and reach further without the headache.
From product updates to in-depth training, Guidde ensures your knowledge doesn't just sit there.
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🛠️ Tools |
Growth School- Learn the 20 most powerful & insane AI tools on the internet. Join this FREE 3-hour Masterclass by Growthschool. Sign up here* (100 free seats only!)
How to Find What to Trade - Deciding what to trade from thousands of assets can be daunting. Use the #1 AI tool for asset selection,* VantagePoint
Miso's AI-powered kitchen robots can add $24B to fast food profits annually. Invest in tomorrow, today* (link)
Teamtailor - Transforming recruitment with seamless experiences for both candidates and companies (link)
Pinecone - A serverless vector database that helps you deliver remarkable GenAI applications faster (link)
Watto AI - A conversational AI platform that enables natural interactions and automates tasks across various industries without coding (link)
Tavrn - An AI-powered medical records chronology service that organizes patient health histories for lawyers (link)
Doctranslate.io - Seamlessly translates documents of any type into dozens of languages with precision and ease (link)
Rely.io - An internal developer portal that provides a centralized software catalog, AI assistant, and tools to streamline DevOps workflows and promote best practices (link)
📚 Resources
Insane way Jensen Huang runs Nvidia (link)
How to build a startup with v0, cursor, claude and replit in 67 minutes, beginner's guide (link)
With one decision, Steve Jobs surprised their rivals Microsoft and IBM and grew Apple's stock by 9,000% over the next 14 years (link)
How Burger King used geofencing to steal McDonald's customers (link)
PS. If you’re interested in this AI stuff, you should sign up for our other newsletter - Prompts Daily. It has 100,000+ readers (Executives, VCs, and engineers). Sign up with one click.
💰 FundingSparkLabs closes $50M fund to back AI startups (link) Segmed secures $10.4M Series A funding, led by iGan Partners and Advocate Health (link) | 💼 Job BoardSenior OCI Sales Specialist at Oracle (US) Staff Data Scientist at Coinbase (Remote) |
💌 Etcetera
How to make training videos more effective?
What are dreams for?
Rethinking addiction as a chronic brain disease
The one cosmic secret that demands a new particle collider
Who needs Photoshop? These great image editors are truly free
Should you shower at morning or night? Here’s what the experts say
Visualizing the decline of U.S. manufacturing, by sector (2002-2022)
The great smell-off: TikTok sparks debate on American vs European noses
Mummified brains show cocaine arrived in Europe far earlier than we thought
What happened to all the temporary air conditioning units at the Olympic Village?
🗞️ News
Buffett dumped $6.2B in Bank of America stock
Berkshire Hathaway has sold $6.2 billion in Bank of America stock since mid-July, reducing its stake by 14.5%. This move is part of a broader trend, with the company selling $90 billion in stocks in the first half of 2024, raising its cash reserves to $276.9 billion. Analysts suggest Buffett's sales may reflect concerns over elevated stock valuations and a desire to manage risk, rather than a direct bearish market signal.
Despite the sales, Berkshire remains Bank of America's largest shareholder, holding an 11.4% stake valued at approximately $36 billion.
Canva subscription increased by 300%
Canva is significantly increasing subscription prices for its Teams plan, with some users facing hikes exceeding 300%. The company justifies the increase by highlighting the added value from its generative AI features. In the U.S., annual fees for five users will jump from $120 to $500, although a temporary discount will reduce that to $300 for the first year. Users in Australia will see their monthly fees rise by at least 68%.
The changes follow a broader shift in Canva's pricing strategy, moving existing subscribers to a new model that reflects recent enhancements.
Brazil's $9,000 fine for VPN users
Demand for VPNs in Brazil has surged by 1,600% following the ban of Elon Musk's social media platform X. This ban, imposed by Supreme Court Justice Alexandre de Moraes, comes with threats of fines up to $9,000 per day for users circumventing the restriction. Despite the risks, many Brazilians are seeking VPNs to access X, feeling disconnected without it.
Alternatives like Bluesky and Threads are also experiencing significant user growth as the ban continues to spark public outcry against perceived censorship.
That’s it for now!
Hope you enjoyed this week’s edition! See you next week.
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