October 24, 2024

Wholesome

Hi there, 

Our 2024 Fintech 100 list is out today. 

Get all the details on the most promising private fintech companies in the world based on CB Insights signals here.

And now, here is this week’s Hot or Not.

Hot: AI agents

Anthropic’s Claude assistant can now use computers. 

The capability, announced Tuesday, allows the AI model to interpret what’s on screen (using screenshots) and use software tools to carry out tasks.  

Much like other AI agents, it’s nowhere near human levels of reliability (on one benchmark of computer use it scored 14.9% vs. a human’s 70-75%). 

Here’s a wholesome (or unnerving depending how you see it) tidbit from the release:

But the announcement marks Anthropic's entry into the AI agents race, alongside companies like Microsoft, Google, and dozens of startups.

What are agents? And why are companies so excited about them? Dive in with the data: 

• Future of the workforce: How AI agents will transform enterprise workflows — Overview of agents, limitations, key companies, implications
• The enterprise AI agents & copilots market map — Map of the broader copilot (augmenting workers) to agents (handling workflows end-to-end for a user) landscape
• The Multi-Agent AI Outlook — Looks ahead at the next evolution of agents and the ecosystems

Not: Starbucks sales

All is not well in pumpkin spice latte land. 

On Tuesday, Starbucks reported preliminary quarterly earnings showing a 7% drop in same-store sales in its fourth quarter ended September 29. 

Alongside the results, Starbucks’ new head honcho Brian Niccol (poached from burrito land aka Chipotle) presented a “Back to Starbucks” strategy in a video message. 

The plan? As highlighted on its CBI profile: fix staffing, simplify the menu, update its mobile ordering system, and streamline operations/staffing in stores. 

More details are expected next week on Starbucks' earnings call.

Hot: Biotech for skin health

Yesterday, we discussed how dermatology-specific telehealth platforms are gaining momentum.

But they aren’t the only solution picking up steam as skin healthcare takes off.

Biotech is also an emerging focus area, covering tools like healthy aging therapies and microbiome-balancing solutions.

For example, Luna Daily — which focuses on microbiome-balancing body care products for women — recently raised a seed round led by Unilever.

Other startups are working on creams that help with dryness as well as tissue regeneration for wound healing and healthy aging.

Dive deeper into biotech innovation in skin health in this research brief.

Not: Meta Spark

In August, Meta announced it would shut down its augmented reality (AR) studio (Meta Spark) at the start of 2025.

The company stated that it remains committed to AR and the metaverse — and just last month, the tech giant introduced Orion (its AR glasses).

But third-party AR developers were caught off guard by the abrupt Spark closure, and they're now fleeing to rival Snap Inc. as it builds out its AR Spectacles.

This marks a shift in Snap’s rivalry with Meta — and could give Snap a boost in the smart glasses race.

Look back at how this rivalry has evolved by digging into our earlier strategy maps for Meta and Snap.

The +1

They blue it. The clarity of thought shown here deserves a medal.

I love you.

Anand

@asanwal 

Co-Founder & Exec Chair

P.S. Next week, our analysts are going to cover 9 technologies that could change the world. Kind of a big deal. Register for the session here.

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