### Major Move in the Tech World
**AllFocal**, a growing startup based in the **UK**, has just secured **$5.3 million** in funding. This significant investment comes with a notable addition to their team: the former **VP of Technology at Microsoft** and **AR Chief at Meta**. This move signals a strong commitment to innovation and growth in the tech landscape.

### Who is AllFocal?
AllFocal is a promising startup focused on leveraging advanced technologies to deliver cutting-edge solutions. With the experience and expertise of industry veterans, the company is poised for rapid development and expansion in the market.

### The Investment Impact
The **$5.3 million** raised will be instrumental in scaling operations, enhancing product offerings, and expanding the team. This funding round reflects a growing interest in startups that blend technology with real-world applications, particularly in the **augmented reality** space.

### Leadership Insights
The addition of a high-profile leader from **Meta** and **Microsoft** not only strengthens AllFocal's position but also brings invaluable insights into the future of technology and user engagement. This strategic hire is expected to drive innovation and foster a culture of excellence within the company.

This development is a testament to the vibrant startup ecosystem in the UK and highlights the potential for significant growth in the tech sector.

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Former Meta AR Chief Joins UK Startup AllFocal with $5.3M Funding Boost!

### The RNAi Breakthrough
Research into **RNA interference (RNAi)**, a **Nobel Prize-winning** technique designed to silence disease-causing gene mutations, has gained significant traction in recent years. Since 2018, **six RNAi-based medicines** have received approval for treating various rare diseases and high cholesterol, with many more currently undergoing clinical testing.

### Current Landscape
Despite the progress, leading companies like **Alnylam Pharmaceuticals** have primarily focused their RNAi drugs on liver-targeted diseases, limiting the technology's potential compared to other therapeutic approaches. However, a new wave of **startups** is emerging, believing that RNAi is poised for a major expansion. These companies, backed by experienced investors, assert that recent **technical advances** have paved the way for broader applications of RNAi technology.

### New Startups on the Scene
Two notable newcomers, **City Therapeutics** and **Judo Bio**, recently launched with over **$100 million** in funding. Others like **Switch Therapeutics** and **Aro Biotherapeutics** have also secured substantial financing. Former Alnylam CEO **John Maraganore**, now with City, states, “**There’s an opportunity to create a whole new generation of RNAi therapeutics**.”

### The Genesis of RNAi
The excitement surrounding RNAi began in the **1990s** when scientists **Andrew Fire and Craig Mello** discovered the ability to use synthetic RNA strands to silence genes. This discovery led to the formation of several biotech firms, including Alnylam and Dicerna. However, it took nearly **two decades** for RNAi to yield an approved drug due to challenges in safely delivering these therapies to cells.

### Expanding Horizons
Recent innovations in delivering RNAi drugs to various tissues are unlocking new opportunities. For instance:
- **Alnylam** has shown early evidence of delivering RNAi drugs to the **brain**.
- **Arrowhead** is exploring methods to send RNAi therapies to the **lungs**.
- **Dyne Therapeutics** and **Avidity Biosciences** are investigating antibody-mediated delivery of RNA medicines to **muscles**.

### Innovative Approaches in Startups
City Therapeutics is developing **synthetic RNAs** that are smaller and more potent, targeting various tissues. Judo Bio aims to deliver RNA payloads specifically to **kidney cells**. **Switch Therapeutics** is innovating by attaching sensors to RNAs for selective activation, targeting **CNS disorders**. Aro is working on conjugating proteins to RNAi drugs for diseases like **Pompe disease**.

### Investor Confidence
The surge in investment in new RNAi companies indicates that investors recognize they are merely scratching the surface of RNAi's potential. Maraganore notes that as Alnylam has grown, it has become challenging for them to explore new frontiers, leaving ample room for startups to innovate. “**It’s hard to imagine that Alnylam would spend $135 million on a new twist on RNAi**,” he remarks, highlighting the unique agility of startups.


The RNAi Revolution: How New Startups are Pioneering Gene Therapy Innovations

### Understanding Startup Costs
My business partner and I budgeted **$10,000** to launch a **pickleball paddle company**. However, our startup costs have exceeded expectations, and we have already spent **60% of our budget** without placing our first significant inventory order yet.

### Budget Breakdown
Our expenses have included:
- **USAP fees**: We paid **$495** to create a manufacturer account with USA Pickleball, allowing us to submit our paddles for testing and certification. This was essential for legitimizing our brand and ensuring our paddles could be used in USAP-sanctioned tournaments.
- **Prototyping**: Collaborating with **330 Trading**, we spent around **$1,475** for prototypes and the initial shipment of paddles.
- **Packaging**: We invested **$1,240** on **500 custom bubble mailers** from Sticker Mule.
- **Graphic Design**: Hiring a graphic designer cost us **$250**, and we also pay **$15** monthly for **Canva Pro** to assist with our design needs.
- **Fiverr Services**: We utilized Fiverr to hire freelancers for packaging design (**$64**) and website development (**$158**).
- **Legal Fees**: We spent **$250** on trademarking and **$75** for LLC registration, alongside **$39** monthly for a **Shopify Basic account**.

### Where Our Money Went
As of early November 2024, our checking account has dwindled from **$10,000 to just under $4,000**. Here’s a detailed look at where our first **$6,000** was allocated:
1. **USA Pickleball Fees**: **$495** for the manufacturer account, **$2,095** for paddle testing, plus **$49** for shipping.
2. **Prototyping Costs**: Approximately **$1,475** for prototypes and initial production.
3. **Packaging Investment**: **$1,240** on custom mailers.
4. **Graphic Design**: **$250** for logo creation and additional monthly costs for design tools.
5. **Freelance Services**: Totaling **$222** for packaging and website design.
6. **Legal Fees**: **$250** for trademark and **$75** for LLC registration.
7. **Monthly Operational Costs**: **$39** for our Shopify account.

We have learned that starting a business often requires more resources than initially anticipated, and our journey is just beginning as we strive to recoup our investments.

My business partner and I have gone through about 60% of our budget — and we haven't even placed our first big inventory order yet.

Uncovering the Hidden Costs of Starting a Pickleball ECommerce Business

The **Department of Defense** has made a significant move by awarding its **first-ever generative AI defense contract** to **Jericho Security**, a New York-based startup. This **$1.8 million contract** aims to bolster military cybersecurity against **deepfake attacks** and other **AI-powered threats** targeting military personnel, including drone pilots.

![Credit: VentureBeat made with Midjourney](https://venturebeat.com/wp-content/uploads/2024/11/nuneybits_Vector_art_of_U.S._intelligence_The_Pentagon_The_CIA__cd8524d7-680a-4048-8e12-e19878aec74b.webp?w=750)

### Pioneering AI Defense Solutions

Jericho Security is tasked with developing advanced cybersecurity solutions for the **Department of the Air Force**. CEO **Sage Wohns** highlighted the significance of this contract, stating, "This is one of the first generative AI contracts awarded in defense, marking a major milestone in how seriously our military is addressing AI-based threats."

### Combatting AI-Powered Phishing Attacks

Jericho's strategy focuses on **simulating complex phishing attacks** that involve multiple communication channels. Wohns explained that today’s phishing attacks extend beyond emails to include text messages, phone calls, and video calls. The startup emphasizes that up to **95% of data breaches** are due to human error, thus creating tailored security training programs using generative AI to simulate sophisticated attacks.

### Addressing Deepfake Threats

The timing of this contract is crucial, as military personnel face increasing threats, including **spear-phishing attacks** targeting Air Force drone pilots. Jericho has played a role in evaluating vulnerabilities through attack simulations and specialized training.

### Setting Standards for Military Cybersecurity

Jericho Security’s achievement in landing a Defense Department contract validates its efforts in the competitive cybersecurity market. The company adheres to **military-grade cybersecurity standards**, ensuring secure handling of sensitive data through end-to-end encryption.

### Innovative Defense Approaches

Rather than reacting to known threats, Jericho employs a **“predator and prey” model**, continuously simulating attacks to enhance both offensive and defensive capabilities. This proactive approach allows their AI systems to adapt to emerging threats.

The contract is part of a broader initiative by **AFWERX**, the innovation arm of the Department of the Air Force, to accelerate military adoption of private sector technology, with over **$4.7 billion** awarded since 2019 to strengthen the U.S. defense industrial base.

The Pentagon awards its first-ever generative AI defense contract worth $1.8M to Jericho Security, targeting deepfake attacks and AI-powered threats against military personnel including drone pilots.

Jericho Security Secures Pentagon's Groundbreaking AI Defense Contract Worth $1.8M

### Bulgaria's Trailblazer for Startups

Ekaterina Zaharieva, Bulgaria’s EU Commission designate, has been officially approved as the **first ever Commissioner for Startups, Research and Innovation** in the European Union. Her primary goal is to **streamline the application process** for **SMEs and startups** seeking EU funding.

### Focus on Investment

Zaharieva aims to engage national finance ministers in discussions to **boost investment** in the sector. Previously serving as Bulgaria's Foreign Minister and Minister of Justice, she brings valuable experience to her new role.

### Addressing Criticism

During her confirmation hearing, Zaharieva faced criticism regarding her **technology expertise**. Lawmakers like Filip Turek and Per Clausen expressed concerns, questioning the necessity of appointing a diplomat over a tech-savvy candidate. Zaharieva reassured that **defense-related funding** will not be part of EU projects, emphasizing the focus on **civilian applications**. 

### Simplifying Funding Access

Zaharieva is committed to **reducing bureaucratic hurdles** for startups and SMEs. She stated, "I plan to work on simplifying access, this will save a lot of time," reflecting her understanding of the sector's needs. She also intends to advocate for increased investment in **research and development**.

### Talent Retention and Gender Equality

Recognizing that **talent is the EU's greatest asset**, Zaharieva highlighted the importance of creating an environment that retains skilled individuals in Europe. Furthermore, she has set an ambitious target of achieving **50% female representation** on all boards and commissions within the **Horizon Europe** research funding program.

### Upcoming Confirmation Vote

The 26 Commissioners-designate, including Zaharieva, will face a final confirmation vote in the plenary session scheduled from **25-28 November** in Strasbourg.

Bulgaria's Commission designate will make it easier for SMEs and start-ups to apply for EU funding.

Meet the EU's First Startup Commissioner: A Game Changer for Investment and Innovation

### The Urgency of Caution in AI Development

The phrase **"move cautiously and red-team things"** may lack the *catchiness* of **"move fast and break things,"** but it carries a crucial warning from AI safety advocates to startup founders. At **TechCrunch Disrupt 2024**, Sarah Myers West, co-executive director of the **AI Now Institute**, expressed her concerns about the rapid pace of AI product releases. She emphasized the need for founders to consider the **long-term ethical implications** of their technologies.

### High Stakes in AI Rollout

Recent events have highlighted the **urgent need for AI safety**. A lawsuit against **Character.AI** by the family of a child who died by suicide underscores the **profound stakes** involved in AI technology. Myers West noted that this reflects **longstanding problems** in content moderation and online abuse. The conversation around AI safety has never been more pressing, with implications ranging from **misinformation** to **copyright infringement**.

### Guardrails for Powerful Technologies

**Jingna Zhang**, founder of the artist-focused platform **Cara**, highlighted the emotional engagement of AI products like Character.AI and the necessity for **guardrails** in their development. She pointed out the conflict between artists posting their work online and the risk of their creations being used to train AI models that could threaten their livelihoods. 

### The Importance of Copyright

Zhang argues that **copyright laws** are essential for artists to protect their work. With the rise of generative AI, she insists that companies should **license** any use of artistic works to ensure fair compensation and protections are in place.

### Community Engagement and Regulation

**Aleksandra Pedraszewska**, head of safety at **ElevenLabs**, stressed the importance of **red-teaming models** and understanding the **unintended consequences** of new AI launches. She advocates for a collaborative approach to **regulation**, acknowledging the need for balance between being anti-AI and pushing for **zero regulation**. 

![AI Safety Advocates](https://techcrunch.com/wp-content/uploads/2024/11/54106133629_67a9f848cb_o.jpg?w=680)
*Aleksandra Pedraszewska, Sarah Myers West, and Jingna Zhang at TechCrunch Disrupt 2024.*

### Building a Safer AI Future

As the AI landscape continues to evolve, the call for a **proactive relationship** with user communities and a balanced regulatory approach becomes increasingly vital. The future of AI depends not only on innovation but also on responsible practices that prioritize **safety and ethics**.

"Move cautiously and red-team things" is sadly not as catchy as "move fast and break things." But three AI safety advocates made it clear to startup

Why AI Founders Must Prioritize Safety Over Speed: Insights from Experts

### Exploring New Horizons for Tech Professionals
As the tech industry faces challenges, many professionals are asking themselves, **‘Is it time to quit?’** A recent weekend conference in San Francisco aimed to encourage techies to consider alternative careers in various trades such as **painting, plumbing, and cabinetry**.

![Techies Considering New Careers](https://sfstandard.com/_next/image/?url=https%3A%2F%2Fassets.swoogo.com%2Fuploads%2Fmedium%2F4610979-672a73459ab80.png&amp;w=3840&amp;q=75)

### A Shift in Perspective
The event brought together individuals disillusioned with the fast-paced tech world, providing them with resources and insights on transitioning to more traditional trades. Attendees engaged in workshops that highlighted the **skills transferability** from tech to hands-on professions.

### Why the Change?
With layoffs and economic uncertainty affecting the tech landscape, many are seeking stability and fulfillment in more tangible work. This shift reflects a growing trend among professionals who are re-evaluating their career paths and looking for **job satisfaction** outside of the tech bubble.

Join the conversation about the future of work and the opportunities that lie beyond the tech industry!

A weekend conference sought to convert techies to other industries or trades like painting, plumbing, or cabinetry.

Thinking of Leaving Tech? Discover New Paths at This Weekend Conference!

By many measures, the **current fundraising environment** looks challenging for smaller startup investors. That’s reflected in the tally of new funds.

So far in **2024**, just **118 small and midsized U.S. startup investors** have raised new funds of **$500 million or less**, marking a significant drop. This puts this year on pace to deliver by far the **fewest new funds** in this category in years.

### Slow Fundraising Amid Dismal Exits
The **slow fundraising** comes amid a slow period for exits. Tech IPOs have been dormant for months, and we’re **not seeing many M&A deals** providing home run returns. Additionally, many older vehicles are still well capitalized, which doesn't help **prospective 2024 vintage funds**. Overall, **venture funding** is still far below the **2021 peak**.

A recent report from **Carta** reveals that funds raised in the **2022 vintage year** had deployed **43% of committed capital** at the 24-month mark, the lowest share of any analyzed vintage. The rate of **seed-funded companies** graduating to **Series A** has also declined.

### Not Just Fewer Funds; Less Capital Too
This year, a total of **$13.7 billion** has gone to sub-$500 million funds, looking like the **lowest tally in years**. The contraction comes as **average round sizes** have gotten larger, favoring more deep-pocketed funds, especially for huge megarounds.

### A Diverse Mix of New Funds
Despite the slow pace, there’s an exciting assortment of **new and follow-on funds** ramping up this year, particularly in sectors like **cleantech, life sciences, and cybersecurity**. Examples include:
- **The Engine Ventures** raised **$398 million** for their third fund focusing on tough tech problems.
- **Clean Energy Ventures** closed **$305 million** for their second fund targeting hardware technologies.
- **Ballistic Ventures** secured **$360 million** for cybersecurity investments.

### Smaller and First-time Funds
Smaller and first-time funds are also part of the mix:
- **Beta Boom** raised **$14.5 million** for seed and pre-seed startups.
- **JFF Ventures** raised **$15 million** focusing on education and work.
- **Connexa Capital** and **Create Health Ventures** also launched new funds this year.

### Historical Perspective
Funds raised in **down cycles** often outperform. Notably, **Accel**’s investment in **Facebook** and **Andreessen Horowitz**’s first fund in 2009 are examples of success from tough economic times. Whether the newest crop of funds will follow in these footsteps remains to be seen, but optimism remains high among startup investors.

![Venture Funds](https://news.crunchbase.com/wp-content/uploads/Money_Hard_To_Get.jpg)  
*Illustration by Dom Guzman*

So far in 2024, just 118 small and midsized U.S. startup investors — excluding funds operated by firms that have raised $2 billion or more in total — have raised new funds of $500 million or less, per Crunchbase data. 

Former Meta AR Chief Joins UK Startup AllFocal with $5.3M Funding Boost!

Summary:

Major Move in the Tech World

Who is AllFocal?

The Investment Impact

Leadership Insights

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