Figma

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Wonder CEO Marc Lore. Kimberly White/Getty Images.
Dealmaker

Marc Lore’s Wonder Preps a Pre-IPO Round

By Cory Weinberg · Apr 16, 2026 3:17pm PDT
E-commerce veteran Marc Lore hasn’t been shy about his food delivery startup’s IPO aspirations. In recent months, he has written on the whiteboards in Wonder’s Midtown Manhattan office the date when it should be IPO-ready: March 31, 2027, according to a person close to the company.First, however, the company will try to tap private investors... E-commerce veteran Marc Lore hasn’t been shy about his food delivery startup’s IPO aspirations....
Art by Mike Sullivan
AI Agenda

China’s Probe of Meta’s Manus Purchase Sends Startups Scrambling

By Jing Yang and Juro Osawa · Apr 15, 2026 7:00am PDT
China’s AI startup founders are jittery. The Chinese government’s investigation of Manus’ sale to Meta Platforms has cast a shadow over a popular exit path for startup founders. And it has caused some startups to consider moving out of China or to shift some operations to Singapore.While some AI startups are happy to stay in China, relying on... China’s AI startup founders are jittery. The Chinese government’s investigation of Manus’ sale to...
Art by Mike Sullivan
AI Agenda

‘Reinforcement Learning Gym’ Startup, Buoyed by Labs’ Appetite For Training Data, Reaches $750 Million Valuation

By Stephanie Palazzolo · Apr 13, 2026 7:00am PDT
AI developers are getting more creative in how they acquire data to train AI models. For instance, they’re paying startups to develop copies of popular apps, like Salesforce or Excel, to teach models how to use the apps—otherwise known as reinforcement learning environments or gyms.One beneficiary of this trend is Fleet, a two-year-old startup... AI developers are getting more creative in how they acquire data to train AI models. For...
Mike Krieger from Anthropic. David Paul Morris/Bloomberg via Getty Images.
The Briefing

Figma’s Apple Moment; Allbirds’ AI Pivot

By Martin Peers · Apr 15, 2026 5:00pm PDT
AI really is transforming the world! The latest example: Dying shoemaker Allbirds is turning itself into an AI chip firm called NewBird AI. Its stock rocketed 600% in response. But before we dig into that bizarre story, we should highlight what may be today’s more meaningful news: Anthropic executive Mike Krieger’s departure from the board of... AI really is transforming the world! The latest example: Dying shoemaker Allbirds is turning...
Sunday Insights

Atlassian and Figma Lead the R&D Arms Race

By Laura Bratton · Apr 12, 2026 8:00am PDT · 4 comments
Wall Street’s sell-off of enterprise software stocks resumed in earnest late last week, sending stocks such as ServiceNow and Snowflake down around 8% or so on Friday, as jitters over the impact of new AI tools on older software firms intensified. But the panic may be too indiscriminate. One way of sorting out which software firms may have more... Wall Street’s sell-off of enterprise software stocks resumed in earnest late last week, sending...