### Dive into the Crypto Startup Experience

**8,000 Companies Apply, Only 26 Get In** — This documentary, titled **'Any Problem Is No Problem'**, offers an exclusive look into the intense competition faced by tech leaders in the burgeoning world of cryptocurrency. 

In this crypto-focused doc, **tech company leaders** are put through a rigorous crash course that tests their mettle in **competition** and **survival**. The teaser gives a glimpse into the challenges and triumphs that await these entrepreneurs as they navigate the fast-paced landscape of the crypto industry. 

**Watch the teaser** to witness the journey of these startups and the fierce battle to stand out in a crowded field.

![Crypto Startup](https://example.com/crypto-startup-image.jpg)  
*Image of a crypto startup in action.*

Take a peek inside of a crypto startup school with the doc 'Any Problem Is No Problem.' Watch the teaser here.

Explore the High-Stakes World of Crypto Startups in 'Any Problem Is No Problem'

### Sesame's New AI Model

**Sesame**, the innovative AI startup, has just unveiled the **CSM-1B model**, the driving force behind its **impressively realistic voice assistant, Maya**. This model boasts **1 billion parameters** and is licensed under **Apache 2.0**, allowing for commercial use with minimal restrictions.

### What is CSM-1B?

The **CSM-1B model** is designed to generate **RVQ audio codes** from both text and audio inputs. **RVQ**, or **residual vector quantization**, is a cutting-edge technique for encoding audio into discrete tokens, utilized in various recent AI audio technologies, such as Google's **SoundStream** and Meta's **Encodec**.

### Technical Backbone

CSM-1B leverages a model from **Meta’s Llama family**, complemented by an audio decoder component. While a fine-tuned variant of CSM powers Maya, the base model is capable of producing a variety of voices, although it has not been specifically tuned for any single voice.

### Limitations and Concerns

Interestingly, **Sesame has not disclosed the training data** used for CSM-1B. Moreover, the model lacks significant safeguards, relying on an **honor system** to deter developers from using it to mimic voices without consent or to create misleading content.

### Real-World Testing

In a recent demo, cloning a voice took less than a minute, allowing easy generation of speech on sensitive topics. This has raised concerns, echoing warnings from **Consumer Reports** about the lack of safeguards in popular AI voice cloning tools.

### The Vision Behind Sesame

Founded by **Brendan Iribe**, co-creator of Oculus, Sesame has gained attention for its lifelike assistant technology. Maya and the other assistant, **Miles**, can speak with natural disfluencies and even be interrupted during speech, emulating human-like interactions.

Additionally, Sesame is working on **AI glasses** designed for all-day wear, equipped with their proprietary models. The company has secured funding from notable investors such as **Andreessen Horowitz**, **Spark Capital**, and **Matrix Partners**.

Sesame, the AI startup behind the impressively realistic voice assistant Maya, has released the base AI model powering Maya.

Unveiling Maya: Sesame's Groundbreaking AI Model and the Future of Voice Assistants

### A New Chapter for Sioux Steel
A **century-old family business** is now embracing the future by leasing part of its downtown space to **fast-growing local startups**. Three businesses focused on **e-commerce** have taken up residence in the Sioux Steel property located in downtown Sioux Falls.

### Meet the Startups
The startups include **Dakota Adventure Supply**, **OutWest**, and **Rink Rabbit**, all operating out of what was previously the **Sioux Steel Wood Warehouse**. This move comes as the warehouse transitioned from a critical storage facility to a space accommodating innovative business ventures.

![Sioux Steel Warehouse](https://siouxfalls.business/wp-content/uploads/2025/03/6J2A2872-1024x683.jpg)

### OutWest's Journey
**Wes Rasmussen**, the owner of OutWest, launched his business two years ago focusing on **versatile everyday wear** for both men and women. Initially uncertain about the direction of his company, he has seen his sales mix evolve to **60% direct-to-consumer and 40% wholesale**. 

![OutWest Apparel](https://siouxfalls.business/wp-content/uploads/2025/03/6J2A2860-1024x683.jpg)

### Future Growth
Rasmussen plans to continue growing OutWest by introducing new products quarterly and forming **strategic partnerships** with wholesalers. The company started as a golf brand but is now expanding into everyday activewear.

### Dakota Adventure Supply's Growth
**Jeff Hayward**, co-founder of Dakota Adventure Supply, has also benefited from the move to Sioux Steel, allowing his business to expand beyond operating from his brother's basement. The brand focuses on outdoor gear and is excited about the potential for national growth.

![Adventure Gear](https://siouxfalls.business/wp-content/uploads/2025/03/6J2A2843-1024x683.jpg)

### Rink Rabbit's Innovations
**Peter Hauck**, co-founder of Rink Rabbit, has transitioned his startup into a full-time venture. Inspired by his wife, he creates **high-performance gear for figure skaters**. Rink Rabbit has quickly gained traction, shipping products across the U.S. and internationally.

![Figure Skating Gear](https://siouxfalls.business/wp-content/uploads/2025/03/6J2A2853-1024x683.jpg)

### Community and Collaboration
The entrepreneurs at Sioux Steel appreciate the sense of community and collaboration. They regularly share insights and support each other in their respective businesses, highlighting the benefits of being surrounded by fellow **e-commerce entrepreneurs**.

![Startup Community](https://siouxfalls.business/wp-content/uploads/2025/03/6J2A2938-1024x683.jpg)

Sioux Steel is committed to supporting these startups, offering them the space and resources they need to thrive in a competitive market.

A century-old family business is leasing part of its remaining downtown space to some fast-growing local startups.

How E-Commerce Startups Are Thriving in Sioux Falls' Historic Sioux Steel Building

### Eric Schmidt's New Role
Former Google CEO **Eric Schmidt** has taken the helm as CEO of **Relativity Space**, a startup with ambitious goals to compete against established giants like **SpaceX** in the rocket launching industry.

![Rocket Launch](https://cdn.mos.cms.futurecdn.net/SLVPXc9x62aSEg5bFqnnQW-1200-80.jpg)
*Relativity Space's Terran 1 rocket launches on its first and only flight, in March 2023. The vehicle failed to reach orbit. (Image credit: Relativity Space)*

### Background on Schmidt
Schmidt, who led Google from **2001 to 2011** and has a net worth of **about $33 billion**, has also made a significant financial investment in Relativity Space, as reported by **The New York Times**.

### Relativity Space's Ambitious Vision
Founded in **2016** by **Tim Ellis** and **Jordan Noone**, both former employees of **Blue Origin**, Relativity Space aims to revolutionize rocket technology with its **3D-printed rockets**. Schmidt takes over from Ellis, who remains on the board.

### The Terran 1 and Future Plans
Relativity Space's first rocket, **Terran 1**, was launched in **March 2023**, achieving several milestones but ultimately **failing to reach orbit**. The company has since shifted its focus to the **Terran R**, a more powerful and partially reusable rocket projected to debut in **2026**. The Terran R is designed to be competitive with SpaceX’s **Falcon 9**, boasting a similar lift capacity of **26 tons** to low Earth orbit.

### Looking Ahead
Relativity Space has already signed launch agreements worth over **$2.9 billion** for the Terran R. The company envisions creating a sustainable **industrial base on Mars** as part of its long-term goals, emphasizing the importance of its current projects on Earth.

For more updates on rocket launches and space exploration, stay tuned!

Former Google CEO Eric Schmidt has assumed the top job at the startup Relativity Space, which aims to compete with SpaceX and other big launch companies.

Eric Schmidt Takes Charge of Relativity Space: A New Era in Rocket Launching

For startups, **working with the Department of Defense (DoD)** can feel like stepping into a fortress of bureaucracy — procurement is slow, compliance is daunting, and identifying decision-makers is like navigating a maze in the dark. Yet, for those who learn to successfully navigate these hurdles, the rewards can be enormous.

### Why the DoD is a Lucrative Market
The DoD is one of the world’s largest and most stable customers, spending **hundreds of billions** on modern defense systems and technology annually. Unlike volatile consumer markets, defense contracts not only offer funding but also **long-term sustainment**. Small wins can lead to **multi-million-dollar deals**, resulting in high-margin, predictable revenue streams. Additionally, building technology that strengthens national security carries undeniable appeal in supporting our country and our interests as Americans.

### The Challenges of Selling to the DoD
However, this market is not for the impatient. Sales cycles take years, compliance is non-negotiable, and understanding who buys what, and through which funding mechanisms, is as crucial as having a strong product. Startups must approach the DoD with a **strategic, long-term mindset** — because while the opportunities are vast, so are the barriers to entry.

### How the DoD Purchases Technology
Selling to the DoD isn’t as simple as pitching a product and securing a contract. The military operates on a rigid, multi-year budgeting system — **PPBE: Planning, Programming, Budgeting, and Execution** — dictating what gets funded, how, and when. The **Future Years Defense Program (FYDP)** is a rolling five-year budgeting cycle that shapes long-term defense investments. Each branch submits a **Program Objective Memorandum (POM)**, which is a funding wishlist, but inclusion in a POM doesn’t guarantee funding; Congress must approve it through the **National Defense Authorization Act (NDAA)**.

### Understanding the Funding Mechanisms
Understanding the “colors of money,” or the different categories of DoD funding, is equally important. The first three colors of money are allocated each year in the defense appropriations process. **Research, Development, Test, & Evaluation (RDT&E)** supports early-stage research and prototyping, making it the most accessible entry point for startups. Startups often pursue **Cooperative Research & Development Agreements (CRADAs)** with government customers, which can help them understand end-user requirements.

### Contracting Pathways: SBIR / STTR
Breaking into the military procurement system requires navigating multiple entry points — each with its own trade-offs, timelines, and levels of control. Two of the most well-worn paths are the **SBIR and STTR programs**, which provide non-dilutive capital to fund early-stage companies developing high-impact technologies for defense applications. Phase I grants fund feasibility studies, while Phase II supports prototype development. The real opportunity lies in **Phase III**, where successful startups move beyond small-dollar grants into sole-source government contracts.

### Additional Funding Pathways
The DoD has established additional funding routes to help transition innovative capabilities from prototype to production, including the **Strategic Funding Increase (STRATFI)** and **Tactical Funding Increase (TACFI)** programs. These programs extend SBIR-backed technologies into larger DoD contracts, bridging the funding gap before full-scale procurement.

### The Importance of Relationships
Understanding who makes purchasing decisions is as critical as knowing how to secure a contract. The **Defense Innovation Unit (DIU)** serves as a bridge to commercial tech, while **Program Executive Offices (PEOs)** manage the lifecycle of major acquisition programs. Startups that engage PEOs early and align with an existing or emerging **Program of Record (POR)** significantly increase their chances of securing long-term funding.

### Navigating Compliance and Security
Scaling in defense is not just about technology — it’s also about politics. Startups must engage with both military leadership and lawmakers to ensure their technology remains funded. Compliance with **FedRAMP**, **CMMC**, and **ITAR** is non-negotiable for defense sales. Startups that neglect these requirements risk losing contracts late in the process.

### Learning from Successful Startups
Startups like **Anduril** and **Palantir** have succeeded by mastering the intricate dance of contracting, procurement, and political buy-in. Their journeys illustrate the importance of demonstrating impact, leveraging flexible contracting pathways, and finding champions within the system to push technology into real deployment.

The defense market isn’t built for speed, but startups that grasp how it operates can unlock massive opportunities. Understanding how money flows through the **PPBE** process and the **POM** ensures a startup isn’t just pitching an idea, but securing a place in future budgets. The key is knowing how decisions are made, who holds the purse strings, and how to navigate the system — all while being patient and strategic.

For startups, working with the Department of Defense (DoD) can feel like stepping into a fortress of bureaucracy — procurement is slow, compliance is daunting, and knowing who actually makes buying decisions is like navigating a maze in the dark. Yet, for those who learn to successfully navigate these hurdles, the rewards can be enormous....

Unlocking DoD Contracts: A Startup's Guide to Success in Defense Procurement

### Mark Cuban's Bold Advice

In a recent discussion, **Mark Cuban**, the billionaire entrepreneur and investor, shared provocative insights specifically aimed at **Black women entrepreneurs**. He advised them **not to seek funding** for their businesses. This statement has sparked conversations about the unique challenges faced by Black women in the entrepreneurial landscape.

### The Importance of Bootstrapping

Cuban emphasized that **bootstrapping**—growing a business with minimal external funding—can lead to greater financial independence and control over one’s business. He argues that relying on investors can often complicate the entrepreneurial journey, especially for women of color.

### Understanding the Landscape

The advice comes in light of the **disparities** in funding access for Black women entrepreneurs. According to various studies, they receive a significantly smaller percentage of venture capital compared to their counterparts. This reality makes Cuban's suggestion to bootstrap even more relevant, as it encourages self-reliance and innovation without the pressures of investors.

### A Call for Community Support

Cuban also highlighted the importance of **community support**. Building networks and leveraging local resources can provide the necessary backing for Black women entrepreneurs to thrive without traditional funding routes. He believes that **collaboration** and **mentorship** within the community are crucial for success.

### Final Thoughts

While Cuban's advice may seem controversial, it opens up a dialogue on how Black women entrepreneurs can navigate the business world more effectively by focusing on sustainable growth through bootstrapping and community engagement.

The premier tech, investing, and wealth-building platform for the Black community

Why Mark Cuban Advises Black Women Entrepreneurs to Bootstrap Instead of Seeking Funding

### Nexus Louisiana Unveils New Tech Competition

Nexus Louisiana has announced a **new tech competition** set to take place this summer, replacing the long-standing **Baton Rouge Entrepreneurship Week (BREW)**. This shift highlights the organization's commitment to enhancing the **tech ecosystem** in Louisiana.

![BREW Event](https://s25562.pcdn.co/wp-content/uploads/2024/05/BREW-1068x712.jpg.webp)
*(Courtesy: Nexus Louisiana)*

For **13 years**, Nexus has hosted the BREW event, which was initially planned for **May 6-8** at Electric Depot. The new **Nexus Technology Cup** will occur from **June 17-19**, providing a platform for tech innovators across the state. This event invites high school and college students, along with skilled developers, to present their **software and hardware projects**.

Participants can compete in one of three tracks: **high school**, **collegiate**, and an **open track** for anyone developing innovative technology. 

Tony Zanders, President and CEO of Nexus Louisiana, stated, “Our open track is specifically designed for **creative minds** who are pushing boundaries, regardless of their background or affiliation. Whether you’re an **independent inventor**, a **startup founder**, or someone developing a **side project** with potential, Baton Rouge is the place to be if you’re serious about building technology.”

Competitors will showcase their projects to a panel of judges from leading global tech companies such as **Microsoft**, **Amazon**, **Meta**, and **Google**. Established by the **Louisiana Legislature** as the Research Park Corporation, Nexus Louisiana aims to drive economic development through high-tech initiatives.

Zanders emphasizes that this competition is crucial for nurturing the local tech ecosystem, expanding tech startups, developing a skilled workforce, and stimulating **economic growth** throughout Louisiana.

Nexus Louisiana announced a new tech competition set for this summer that will replace the longstanding Baton Rouge Entrepreneurship Week, or BREW, as the organization strives to deepen its commitment to the tech ecosystem. Nexus has hosted the BREW event for 13 years. The event was initially scheduled for May 6-8 at Electric Depot. The […]

Nexus Launches Exciting Tech Competition to Revitalize Baton Rouge's Innovation Scene

### Uncovering the Paths to Unicorn Success
Before **Jensen Huang** co-founded **Nvidia**, he was a dishwasher at Denny’s. However, most unicorn founders emerge from more predictable backgrounds. The **Stanford GSB Venture Capital Initiative** team analyzed **2,791 founders** behind **1,110 U.S.-based VC-backed unicorns** to explore their professional journeys.

The findings reveal that these founders honed their skills at **tech giants**, elite universities, and even military organizations. Notably, **40%** of unicorn founders had previously founded other companies, while those with experience in the **Israel Defense Forces** are **3x more likely** to create U.S.-based unicorns.

### From Employees to Entrepreneurs
A significant **25%** of unicorn founders have backgrounds in scientific research or technology development. Additionally:
- **22%** were CEOs before launching their unicorns.
- **9%** served as CTOs.
- **21%** were engineers, **17%** software engineers, and **14%** product managers. 

This data highlights the importance of **leadership, technology, and marketing skills** in the success of unicorn founders.

![Most Frequent Positions](https://news.crunchbase.com/wp-content/uploads/mostfrequentpositions.jpg)

The professional background is crucial. Founders have previously worked at **6,109 different organizations**, with only **33** producing **15 or more** future unicorn builders. Nearly half of these top organizations had **VC funding** themselves.

![Work Experience](https://news.crunchbase.com/wp-content/uploads/workexperience.jpg)

### Tech Giants and Elite Universities as Launchpads
**Google** leads with **96 unicorn founders**, followed by **Microsoft** (64) and **IBM** (42). Elite universities also play a vital role:
- **Stanford** produced **43 founders**.
- **MIT** and **Harvard** follow closely.

Financial institutions like **Goldman Sachs** (27 founders) and agencies like **NASA** (19 founders) further complete this picture.

### The Role of Serial Entrepreneurship
**40%** of unicorn founders previously started other companies, with **60%** of unicorns having at least one serial entrepreneur on their founding team. Interestingly, **60%** achieved success on their first attempt, while others, like **Brian Chesky** of **Airbnb**, had no prior founding experience.

### Unexpected Unicorn Factories
Founders with **Israel Defense Forces** experience are **3.1x** more likely to build billion-dollar companies. Other surprising sources include the **Lawrence Livermore National Laboratory** and the **US Air Force**.

![Odds of Becoming a Unicorn Founder](https://news.crunchbase.com/wp-content/uploads/Oddsofbecomingaunicornfounder.jpg)

These organizations instill valuable skills such as **strategic thinking, mission focus, and performance under pressure**.

### Insights from Founder Backgrounds
For aspiring unicorn founders, the research indicates that specific professional backgrounds correlate with success. Experience at top tech companies, elite universities, or government organizations provides essential preparation. However, persistence remains key, as many founders succeed after multiple attempts. 

![Business Strategy](https://news.crunchbase.com/wp-content/uploads/business-strategy.jpg)

### Methodology Note
This study defines unicorns as **VC-backed, U.S.-based companies** that achieved a valuation of **$1 billion-plus**. The unicorn list was derived from sources like **Crunchbase** and **TechCrunch**, with confirmations of funding details.

---
*Illustration by [Dom Guzman](https://www.domguzman.com/)*

The Stanford GSB Venture Capital Initiative team analyzed 2,791 founders behind 1,110 U.S.-based VC-backed unicorns to understand their professional backgrounds and found that those founders developed their skills at tech giants, elite universities and even military organizations. We break it down further.

Explore the High-Stakes World of Crypto Startups in 'Any Problem Is No Problem'

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Dive into the Crypto Startup Experience

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