GM. This is Take Off - the newsletter that gives you the same feeling as when you’d hear the ice cream truck come into your hood and knew you were about to get a Choco Taco.

Let’s get to it:

• Virgin Orbit Not Taking Off 🚀

• Amazon Hops on the AI Bandwagon 🚙

• TikTok’s Troubles just keep adding up ➕➕

Virgin Orbit Not Taking Off 🚀

Guess what? Sir Richard Branson's Virgin Orbit just went "Houston, we have a problem!" The satellite-launching company is laying off a whopping 85% of its workforce and ceasing operations for the foreseeable future. Talk about a space race crash landing, right?

It looks like they've been struggling to secure funding and just couldn't keep up with the big boys like SpaceX and Blue Origin. Their most recent mission failed after a pesky rocket fuel filter dislodged, causing their dreams of space domination to implode faster than a black hole.

Now Virgin Orbit is filing for bankruptcy, hoping someone with deep pockets and starry-eyed dreams will swoop in and buy the business. It's a real shame, considering they were part of a small group of billionaires looking to make space tourism a reality. But on the bright side, at least Sir Richard Branson still has Virgin Galactic for his space shenanigans. So don't worry, Earthlings - the billionaire space race is still on!

Amazon Hops on the AI Bandwagon 🚙

Did you hear that Amazon is diving back into the AI accelerator world? Yup, AWS is launching a 10-week program for generative AI startups all around the globe. Looks like Amazon is hopping on the generative AI bandwagon with Google, Microsoft, and Apple!

These lucky startup founders will have access to AI models, tools, and all sorts of cool stuff. Plus, they'll get up to $300,000 in AWS credits to help build their companies! How awesome is that? But, Amazon isn't investing directly in these startups, they're more like the cool uncle who lends you his car for the weekend.

So, if you're a startup with a minimum viable product, some customer traction, and already building on AWS, this accelerator might be right up your alley. Generative AI is unlocking new developments and creativity, and Amazon is ready to jump in and see what amazing things they can help power through the cloud.

TikTok’s Troubles just keep adding up ➕➕

Well, it looks like TikTok is in a bit of a pickle over in the UK. The video-sharing app has been fined a whopping $15.9 million for not playing by the rules when it comes to protecting kids' data. Apparently, TikTok let over a million children under 13 use the app without their parents' permission. Oopsie!

It's not just the UK that's worried about TikTok's safety measures either. The US Congress recently questioned the CEO about national security risks posed by the platform. And last year, researchers found that TikTok was recommending content related to eating disorders and self-harm to 13-year-olds within 30 minutes of joining.

☄️ Asteroids ☄️

Amazon's Difficult Decision: Restructuring Gaming Divisions Heartfelt sympathies go out to the 100+ employees affected by layoffs as Amazon compassionately reevaluates its gaming strategy for a sustainable future.

Stanford's 386-page AI report is like a rollercoaster ride through the thrilling world of artificial intelligence. Buckle up for biases, controversies, and an AI party that just won't quit! 📖

Expedia's new ChatGPT buddy is here to make travel planning a breeze! Pack your bags and let this AI-powered sidekick find you the best hotel, flight, and destination recommendations. 🌍✈️

💰 Wednesday Wires 💰

Perplexity AI raises $26M to revolutionize search experience with LLMs. 🤖💬🌐

Everstream Analytics raises $50M to help untangle supply chain snarls with big data magic. 🪄📊 

Amsterdam-based Fourthline nabs $54M to unleash its AI-powered identity verification and compliance tools on financial fraudsters. 💳🤖

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