Lanny Smoot, a Disney Research Fellow and a Walt Disney Imagineering Research & Development member, has been inducted into the National Inventors Hall of Fame. This recognition marks him as the first Disney Imagineer to receive this honor and only the second individual from The Walt Disney Company to be inducted. Lanny Smoot Smoot’s induction into the Hall of Fame is a personal triumph and testament to his nearly three decades of relentless innovation and creativity at Disney. “I was honored and humbled at being inducted into the National Inventors
Lucy Guo, a self-made millionaire and co-founder of the $7 billion-valued unicorn Scale AI, is making headlines again with her platform Passes, according to Fortune. Lucy Guo And Passes At 29, Guo has secured $40 million in Series A funding for her new venture, Passes, a creator monetization platform. Passes, previously used by Black Chyna, aims to revolutionize how content creators earn money. The $40 million round was led by the San Francisco-based Bond, spearheaded by Kleiner Perkins alums Mary Meeker and Mood Rowghani. Skims co-founders Emma and Jens Grede
Recent data from Crunchbase reveals that there has been a disproportionate decline in venture funding for Black-founded startups in the United States. A Fall Below The $1B Threshold Last year, these startups secured only $705 million in funding, marking the first time since 2016 that the figure fell below the $1 billion threshold. This sharp decline of 71% in funding to Black-founded companies starkly contrasts with the 37% decrease in overall U.S. startup funding, highlighting a widening gap in investment allocation. This drop signifies a declining share of Black-founded startups
John Henry, a 31-year-old Dominican-American entrepreneur, is revolutionizing the auto insurance market with his innovative company, LOOP. The B Corp car insurance firm uses predictive models and real-time driving data to create more equitable rates, particularly for underserved communities. LOOP Established in 2020, LOOP has made remarkable strides in a short period. By 2023, the company boasted over 10,000 members and reported $26.7 million in Direct Written Premiums, reflecting a staggering 230% growth yearly. This success has been marked by over $30 million in venture capital from notable investors like
Filmmaker and entrepreneur Tyler Perry recently halted an $800 million expansion of his Atlanta-based studio due to the advancements in AI. Perry’s pause on expanding his 330-acre studio, which would have added 12 soundstages, underscores the disruptive potential of AI in the entertainment industry. AI’s Capabilities During an interview with The Hollywood Reporter, Perry expressed his awe at OpenAI’s Sora’s capabilities in particular. Sora can generate vivid and complex video scenes merely from text descriptions, potentially eliminating the need for location shooting or set building. “Being told it can do
Joe Cecala and Dwain J. Kyles are launching The Dream Exchange, which is set to become the first Black-owned stock exchange in the United States. Dr. Martin Luther King Jr’s Influence The two, influenced by the civil rights movement and drawing inspiration from Dr. Martin Luther King Jr., aim to bridge the gap between Main Street and Wall Street, creating a more inclusive financial marketplace. “What he [Dr. King] began to understand in the later years of his life [is] that you were not going to achieve equality anywhere in
Black-owned startup The SMART Tire Company (STC) is calling on Black celebrities, investors, and engineers to help disrupt the global tire market industry at $300 billion. SMART tires: TIME’s Best Inventions STC is best known for its space-age tires, which are changing the way vehicles perform on and off the road. The tires were initially designed for NASA’s Mars Rover program, but STC was founded to commercialize this advanced tire technology as part of the FedTech NASA Startup Program. The company’s inaugural product is a high-performance, airless bicycle tire made
Google’s latest AI tool, Gemini, designed to create diverse images, has been temporarily stopped after sparking controversy over its depiction of historical figures. AI Tool Gemini Gemini was made to create realistic images based on users’ descriptions in a similar manner to OpenAI’s ChatGPT. Like other models, it is trained not to respond to dangerous or hateful prompts and to introduce diversity into its outputs. However, users reported that Gemini, in its attempt to avoid racial bias, often generated images with historically inaccurate representations of gender and ethnicity. For example,
The estate of Donna Summer, the legendary Queen of Disco, has accused rapper Kanye “Ye” West of copyright infringement amid AI concerns. Allegations Against West This accusation centers around a song from West’s recent collaborative album with Ty Dolla $ign, “Vultures 1.” The estate claims that West sought permission to use Summer’s iconic track “I Feel Love” but was denied. Despite this, the album’s song “Good (Don’t Die)” features lyrics and melodies eerily reminiscent of Summer’s classic. The song includes the lyric, “Oh, I’m alive, I’m alive, I’m alive, oh,” along with
Rise Up Crowdfunding has collaborated with The Coca-Cola Company to transform funding for women and minority-owned companies. Rise Up Crowdfunding, a FINRA and SEC registered funding portal, is on a mission to enable people to invest in diverse-owned small businesses and the future those businesses believe in. The Collaboration With Coca-Cola Company In collaboration with The Coca-Cola Company, the platform is giving women and minority-owned companies the chance to now raise up to $5 million through equity crowdfunding. “Although women and minority-led startups are launching daily, women receive less than
