Sora, OpenAI’s new generative AI tool turning text into videos, explained
Startup Daily
by Vahid Pooryousef & Lonni Besançon
14h ago
A little over a week ago, OpenAI announced a new generative AI system named Sora, which produces short videos from text prompts. While Sora is not yet available to the public, the high quality of the sample outputs published so far has provoked both excited and concerned reactions. The sample videos published by OpenAI, which the company says were created directly by Sora without modification, show outputs from prompts like “photorealistic closeup video of two pirate ships battling each other as they sail inside a cup of coffee” and “historical footage of California during the gold rush”. At ..read more
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Kogan.com shares jump as half-year results turn from red to black, despite ongoing sales and revenue falls
Startup Daily
by Simon Thomsen
14h ago
Online retailer Kogan.com is back in the black and will pay its first dividend in three years after posting a net profit of $8.7 million for the half-year (1h24) to December 31. It’s a turnaround of more than $30 million on the $23.8 million half-yearly loss 12 months ago and comes despite a 9.9% fall in revenue to $248.2 million for the half, alongside a 5.6% drop in gross sales to $446.6 million. The company (ASX: KGN), now nearly 18 years old, has reinstated an interim dividend for the first time since May 2021, paying 7.5¢ per share. Kogan.com shares jumped more than 20% in morning trade t ..read more
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FinTech Australia is ramping up its sustainability focus
Startup Daily
by Startup Daily
21h ago
FinTech Australia is launching a new event next month aimed at showcasing sustainability-focused fintech companies. FinTech for Net Zero is a panel discussion on fintech’s role in managing the challenge of climate change. It will be held at BDO’s office Sydney office at 1 Margaret St, in the CBD, from 4pm on Tuesday, March 12. Several impact fintechs including Slyp, FootprintLab, Good for B and Clima will also pitch at the event, which is being backed by The Australian Trade and Investment Commission, StartUpBoottcamp and BDO. FinTech Australia general manager Rehan D’Almeida said the organisa ..read more
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WiseTech’s results and share price are a giant F You! to the short-sellers who predicted the software giant’s death in 2020
Startup Daily
by Simon Thomsen
3d ago
About this time four years ago, China-based analyst and short-seller J Capital took its third stab at ASX-listed WiseTech Global with a report headlined “WiseTech may be the first corporate death from Covid19”. This week the logistics software company (ASX:WTC) was very much alive and kicking with its share price hitting an all-time high, above $90, after beating expectations in half-yearly results (1H24) for the six months to December 31 that added $3 billion to its market cap to nearly $30 billion. Revenue grew by 32% (up 15% organically) to $500.4 million. Statutory profit after tax in ..read more
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Relationships guru Esther Perel joins Culture Amp as advisor
Startup Daily
by Simon Thomsen
4d ago
Psychotherapist and sex and relationships expert Esther Perel, who coined the term “erotic intelligence”, has joined Australian employee experience platform Culture Amp as an advisor. Perel, who in recent years turned her attention to workplace relationships with a podcast called How’s Work, to help cofounders and others work navigate the challenges thrown up in the office, is Culture Amp’s first external advisor. Culture Amp cofounder and CEO Didier Elzinga said she had been actively involved with the business since 2019, as a keynote speaker and guest on the Culture First podcast. “We are de ..read more
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The federal government wants more quantum research commercialised – as it eyes off a US supplier for its secretive computer plan
Startup Daily
by Denham Sadler, Information Age
4d ago
Quantum technologies are the “future of made in Australia’, federal industry minister Ed Husic said as he pushed for more quantum research commercialisation in Australia. Husic made a speech at a Quantum Australia event on Wednesday morning, focusing on the federal government’s National Quantum Strategy and efforts to make Australia a quantum powerhouse in the future. Australia’s first quantum strategy was unveiled in May last year, with a focus on research and development, supply chain, workforce, standards and equality. The plan aims to cement Australia’s position as a world leader in q ..read more
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Startmate’s summer cohort invests in women cofounders for 60% of the startups
Startup Daily
by Startup Daily
4d ago
The 10 startups in Startmate’s Summer24 accelerator cohort go a long way to addressing a key concern for the sector, with six of them featuring women founders, including two all-female teams. Support for female founders has been a sore point for the sector, despite recent improvements, such as VC funds pledging to report their investment efforts in women and the 2023 State of Australian Funding report finding that 18% of VC funding goes to women cofounded startups (a figure skewed by a couple of large raises, including $31 million misattributed to the year when the deal was done in 2022 but on ..read more
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Coviu cofounder Silvia Pfeiffer steps down as CEO and away from her telehealth startup
Startup Daily
by Simon Thomsen
5d ago
The cofounder of Coviu, Dr Silvia Pfeiffer, has stepped down as CEO after six years and away daily operations in the decade-old telehealth startup. Pfeiffer revealed her decision on LinkedIn last month, saying her plans “are wide open and I am curious about what challenges the New Year has in store for me”. She will stay on the Coviu board as a non-executive director role. “Establishing a successful healthcare technology company in Australia is no small feat, and I take immense pride in what Nathan and I have accomplished over the last five years since spinning out of the CSIRO,” she said. “P ..read more
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Smartmate’s summer cohort invests in women cofounders for 60% of the startups
Startup Daily
by Startup Daily
5d ago
The 10 startups in Startmate’s Summer24 accelerator cohort go a long way to addressing a key concern for the sector, with six of them featuring women founders, including two all-female teams. Support for female founders has been a sore point for the sector, despite recent improvements, such as VC funds pledging to report their investment efforts in women and the 2023 State of Australian Funding report finding that 18% of VC funding goes to women cofounded startups (a figure skewed by a couple of large raises, including $31 million misattributed to the year when the deal was done in 2022 but on ..read more
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Finder cuts staffing for the 3rd time in a year, shedding 60 jobs
Startup Daily
by Simon Thomsen
6d ago
Financial comparison site Finder has cut its workforce by 17% in a fresh round of redundancies, the third major staffing reduction in the past 12 months. Around 60 people have lost their jobs globally in the latest cuts. It may be the fourth time HR handed out redundancy notices in the past year, with SmartCompany reporting there was “a smaller round late last year”. All up, nearly a quarter of the team left in 2023. It’s believed that the website’s editorial team is among those targeted in the latest cuts. It often publishes stories based on Finder surveys, including one yesterday that 74% of ..read more
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