Letter: Trump administration should not have carte blanche
When you really probe venture capitalists about investing in AI startups, they’ll tell you that businesses are experimenting wildly but are very slow to add AI solutions into their ongoing business processes . But there are some exceptions. And one of them appears to be an area known as AI sales development representatives, or AI SDRs. These use large language models (LLMs) and voice technology to craft personalized outreach emails and place automated calls to potential customers. “In some markets, we’re seeing five to 10 companies all have success in a pretty short period of time,” Shardul Shah, a partner at Index Ventures, said of the AI SDR boom. While it’s certainly not uncommon for multiple startups to target the same problem, it’s rare to see all of them experience rapid growth. But that’s apparently the case for startups that automate content creation for sales teams, investors say. “When one studies any of [these startups] individually, it’s like ‘wow, that’s stunning product market fit,’” Shah said. “When all 10 of them have stunning product market fit, it’s hard to answer ‘How is that going to play out?’” Index has yet to invest in any of these companies, many of which are less than a year old. Even though the whole category is on fire and customers are using them, it’s still too early to know whether their growth will continue over the long term or whether they will be discarded like so many other AI pilot projects once the wow factor fades, because they don’t prove to be more effective than human outreach. Small businesses love AI sales LLMs Arjun Pillai, founder of Docket , a startup that builds AI sales engineers, is convinced that AI SDR adoption is high because small and medium-sized businesses can easily experiment with these tools. Before Docket, Pillai was the chief data officer at sales lead generation platform ZoomInfo. “Over the last two years, the reply rate on cold emails fell at least 50%,” Pillai said. “Now that there are a bunch of companies that claim they can improve this rate, everyone is willing to try their service.” The best-known AI SDR startups include Regie.ai, AiSDR, Artisan, and 11x.ai , but ZoomInfo, an incumbent, also released a copilot that competes with these and other virtual sales agent startups. While these companies are experiencing rapid revenue growth, it’s unclear if they’re actually helping businesses sell more effectively. According to Tomasz Tunguz, founder of Theory Ventures, a chief revenue officer from a publicly traded company disclosed to him that while an AI SDR helped generate a substantial volume of leads over a nine-month period, it did not lead to actual sales. “So it’s not to say that AI won’t work. It’s to say many of us [still] do not know how to use AI,” Tunguz said onstage at a SaaStr conference in September. Will the incumbents squash them? Chris Farmer, partner and CEO at venture firm SignalFire, said he believes that AI applied to sales and marketing is a large opportunity, but without access to differentiated data, AI SDR startups risk being overtaken by incumbents like Salesforce, HubSpot, and ZoomInfo. Those companies’ main products are the keepers of their customers’ data. So if they offered bots that let their customers tap into their own data, such bots could be more effective. Another venture capitalist who looked at this market but hasn’t yet invested said her firm looked at several AI SDR startups and that they all had $1 million in ARR within less than a year. The startups’ impressive growth was attractive, she said, but like Farmer, she was concerned their solutions could eventually be offered as a free feature by established competitors. Jasper, a copywriting startup that was last valued at $1.5 billion but ran into speed bumps and had to lay off 30% of its staff after ChatGPT was introduced, serves as a cautionary tale for some investors. Investors are not surprised by the rapid adoption of AI SDRs; they are just doubting that adoption is sticky. Updated: This story was originally published on August 22 and was updated December 26 with comments from Tomasz Tunguz.Empire’s chief executive believes the grocery retailer has a leg up on the competition as consumer sentiment improves amid lower inflation and interest rates, and the gap between its discount and full-service stores shrinks. “We believe this will be advantageous to us as we continue to lean into our strengths as a full-service foremost grocer,” said Michael Medline, president and CEO of the company that owns Sobeys, Safeway, FreshCo, Farm Boy, Longo’s and other grocery banners across the country. “We saw momentum and green shoots in both the economy and our business,” he said on a conference call with analysts discussing the company’s second-quarter financial results. “Inflation has now moderated, and interest rates have begun to decline, representing a positive inflection point for full service.” Like its competitors, Empire has been increasing its discount store footprint through new stores and conversions. But it’s also got big plans for its higher-end stores in Ontario. “You’re going to see many new Farm Boy and Longo’s stores going up over the next year and two years,” said Medline. The company said it earned a second-quarter profit of $173.4 million, compared with $181.1 million a year earlier. Sales for the quarter totalled $7.78 billion, up from $7.75 billion a year earlier. The increase came as same-store sales rose 1.1 per cent. Same-store sales growth, excluding fuel sales, were up 1.8 per cent. The company’s e-commerce sales grew 12.2 per cent during the quarter, driven primarily by Voilà, said Medline. “Growing Canadian e-commerce penetration is the key tailwind that we need to accelerate the growth of Voilà,” he said. Near the end of the quarter, the company also launched new partnerships with Instacart and Uber Eats to complement its Voilà service. Empire said in a press release that it intends to continue investing in its store network, including renovating approximately 20 to 25 per cent of stores between fiscal 2024 and 2026. During the quarter, Empire said it invested $149.2 million in capital expenditures, including renovations, construction of new stores, and other technological investments. Medline said during the quarter the company completed the expansion of one of its distribution centres in Ontario. This has helped margins by redirecting some deliveries to the distribution centre instead of individual stores, he said, boosting freshness, waste reduction and product availability. The company provided an update on its expansion of discount banner FreshCo in Western Canada, with 48 stores now operating in the region. Empire said it expects to achieve its original target of converting up to a quarter of its Safeway and Sobeys stores to FreshCo over the next several years. Empire's stock was up more than seven per cent in midday trading on the Toronto Stock Exchange. The company said its profit amounted to 73 cents per diluted share for the 13-week period ended Nov. 2 compared with a profit of 72 cents per diluted share a year ago when it had more shares outstanding. On an adjusted basis, it earned 73 cents per diluted share in its latest quarter, up from an adjusted profit of 71 cents per diluted share in the same quarter last year. The average analyst estimate had been for an adjusted profit of 66 cents per share, according to data provided by LSEG Data & Analytics. This report by The Canadian Press was first published Dec. 12, 2024. Companies in this story: (TSX:EMP.A) Rosa Saba, The Canadian Press
South Korea's lawmakers on Friday voted to impeach acting President Han Duck-soo, in the second head-of-state ousting this month after a short-lived martial decree on Dec. 3. Han's predecessor, President Yoon Suk Yeol, was impeached a mere two weeks prior. Han's own impeachment plunges South Korea into renewed political turbulence, shaking the foundations of its democratic success story and driving down the Korean won. South Korea's lawmakers on Friday voted to impeach acting President Han Duck-soo, in the second head-of-state ousting this month after a short-lived martial decree on Dec. 3, according to South Korean news agency Yonhap . > 24/7 San Diego news stream: Watch NBC 7 free wherever you are Finance Minister Choi Sang-mok is next in line to take on the mantle of the acting presidency, according to South Korean law. Han's predecessor, President Yoon Suk Yeol, was impeached a mere two weeks prior , after imposing martial law for six hours at the start of the month for the first time since the military coup of 1979, citing the need to "protect the constitutional order based on freedom and eradicate shameful pro-North Korea anti-state groups, that are stealing freedom and happiness of our people," according to NBC News . Opposition lawmakers brought the motion against Han on Thursday over the acting president's reluctance to immediately appoint three justices in the Constitutional Court, which is preparing to kick off deliberations on upholding Yoon's impeachment or reinstating him. Han's ruling Power People Party has argued that filling the Constitutional Court vacancies exceeds Han's mandate as acting president. The Constitutional Court held a first hearing on Yoon's case on Friday and has 180 days to reach its conclusion. A simple 151 majority, rather than two-thirds of parliamentary support, was required to pass the Friday vote. The assembly approved Han's impeachment motion with 192-0 in favor, while governing party lawmakers boycotted the poll, according to a Google-translated Yonhap update . The agency reports that acting Han has said he will respect the Friday decision. Han's own impeachment plunges South Korea into renewed political turbulence, shaking the foundations of its democratic success story and driving the Korean won down 0.40% to 1,472.22 after the Friday news. South Korea's Kospi slid 1.02% during the Friday session . Earlier on Friday, the Finance Ministry's Choi warned of the economic and security impact of Han's impeachment vote on Asia's fourth-largest economy. Money Report European markets rise; Novo Nordisk shares up 3.5% Your money habits trace back to childhood, financial psychotherapist says. Here's how to fix them "In a time of global trade wars and national emergencies, the absence of a control tower for state affairs would cause severe damage to our country's credibility, economy, national security and governance continuity," Choi said, according to Yonhap . The International Monetary Fund projects 2.5% growth in South Korea's gross domestic product for 2024, and also a 2.5% inflation print over the period. Also on CNBC Tributes to former Indian PM Manmohan Singh pour in Asia-Pacific markets set to open higher with China's industrial profits on deck Japan stocks rise as government reportedly set to propose record budget
Cade Klubnik will lead the Clemson Tigers (8-2) into their game against the The Citadel Bulldogs (5-6) at Memorial Stadium (Clemson, SC) on Saturday at 3:30 p.m. ET. Keep reading to find out the details on how to watch this game on The CW. Watch college football live without cable. Stream ACC, SEC, ESPN and more with Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Start your risk free trial today and start watching college football games now. Stop missing games and start streaming college football right now on Fubo. Stop missing games and start streaming college football right now on ESPN+. Get tickets for any college football game this season at Ticketmaster. Rep your favorite players with officially licensed gear. Head to Fanatics to find jerseys, shirts, hats, and much more.MISSOULA — After battling tooth-and-nail for almost four quarters with arguably the best mid-major program in the country, the Montana women's basketball team went cold when it mattered most Saturday in squandering a rare opportunity. Reigning Summit League Player of the Year Brooklyn Meyer piled up 32 points in leading South Dakota State to a 78-70 win at Robin Selvig Court. The Jackrabbits, ranked No. 1 in the mid-major poll, improved to 7-2. All things considered, it was hard for Montana coach Brian Holsinger to be anything but proud of his team afterwards. Yes he would have loved to have seen the Lady Griz pull the upset, but there were extenuating circumstances following Montana's Wednesday loss at North Dakota State. "We didn't practice before this game. We had travel issues," he told 406 MT Sports. "We got back (Friday), no practice before this game. We were stuck in Denver for 36 hours. "Our effort in a situation where we didn't get to prepare at all — we had a ton of adversity trying to get home and for us to come out and play as hard and as tough as we did, I was really proud. They're a really good team and at some point you gotta tip your hat to a really good team with juniors and seniors who made plays down the stretch." Trailing 68-67 with just under 2 minutes left, Montana had a chance to take the lead on a Mack Konig drive to the bucket. Her layup attempt banked hard off glass and Meyer made Montana pay on the other end with two free throws to give the Jackrabbits a three-point lead. Konig tried to answer with a 3-pointer but it fell off the rim and South Dakota State came up with the loose ball. The Jackrabbits then seized control with a 3-pointer by junior Haleigh Timmer. From there it was a free-throw contest. South Dakota State hit six of seven foul shots in the final 30 seconds. Montana hit three of four but ultimately paid the price for missing all three of its shots from the floor in the last two minutes. Of Meyer's 32 points, 19 came in the second half. The 6-foot-2 junior forward from smalltown Iowa went 12 for 15 from the field and 8 for 9 from the free-throw line. "We picked our poison a little bit with the post and she's good," Holsinger said. "I mean, she's the (Summit) player of the year last year and the (Summit) defensive player of the year and she's the reason why they almost go to the Sweet 16 (in 2023). "Could we have done a better job? Probably. We have to learn how to get a few stops here and there. But we had multiple shots to swing the momentum and couldn't quite make it." Montana fell to 4-5 (2-5 against NCAA Division I competition). The Lady Griz have dropped three of their last four and the win came at home against NAIA Evergreen State. Still, the team is playing like a serious contender for the Big Sky Conference title. The Lady Griz beat the Big Ten's Washington Huskies earlier this season and Saturday's performance was just as inspiring, all things considered. Montana shot a respectable 44.1 percent from the floor (26 for 59 overall, 11 for 25 from 3-point range). Four players scored in double figures, including Helena native Dani Bartsch with 19 points, Adria Lincoln with 12, Avery Waddington 11 and Izzy Zingaro 10. Of all those numbers, Zingaro's 10 points stands out as another important positive since she was being defended by Meyer. Zingaro scored a career-high 25 points in Wednesday's loss at NDSU and delivered another impact performance in her first start Saturday. "She's getting healthy," Holsinger said, alluding to Zingaro's ankle injury. "She's a really good player. She's just been hurt. "She's going to be tough inside and she was tough for them to stop inside at times when we could get it to her. We have to continue to get her in better shape and she'll be a major force for us hopefully." South Dakota State's inside game was key to the outcome. The Jackrabbits finished with a 35-23 edge in rebounds and a 36-28 edge in points in the paint. Montana will take a long break now before playing in the West Palm Beach Classic in Florida on Dec. 19-20. The Lady Griz will face Michigan State and Tulsa in that event. Bill Speltz is Missoulian sports editor. Contact him at or on Twitter @billspeltz Get local news delivered to your inbox!
PFS Bancorp, Inc. Authorizes Stock Repurchase ProgramManchester City caught a stray dig from Amazon Prime commentator Jon Champion on Boxing Day. The Premier League holders dropped yet more points with a 1-1 draw at home to Everton in the day's early kick-off. And Liverpool streaked further into the distance with a 3-1 win over Leicester City at Anfield in the day's late game. The Foxes have had a tough time of it lately, sacking Steve Cooper when they were outside the relegation zone and slipping into it since appointing Ruud van Nistelrooy. Normally, a home clash with City would be written off as an almost certain defeat. But Champion needled Pep Guardiola 's side by pointing out, with the final words of his Liverpool coverage, that they may be the perfect opponents for Leicester to end their three-game losing run. "They have work to do and their next game," he said. "Well, maybe it offers hope to them... it's Manchester City ." The Blues won their fourth consecutive league title last season and they were firmly in the title hunt during the opening weeks of the current campaign. But their fall from grace over the past two months has been spectacular. City had the lead against Everton thanks to Bernardo Silva's deflected first-half strike, before an exceptional Iliman Ndiaye finish drew the visitors level. Erling Haaland had a penalty to win it at the Etihad Stadium, but he placed his effort too close to Jordan Pickford, leaving Guardiola's men with one win in their last 13 games. They have also lost a staggering nine matches on that run, including heavy defeats against Tottenham and Sporting. Many feel that City are now out of the title race, with a 14-point gap between themselves and Liverpool , who have a game in hand. Guardiola has substantial credit in the bank thanks to his plethora of titles since landing in Manchester. And the former Barcelona boss has suggested that even Champions League qualification could be a bridge too far for his floundering players. "When I said before, people laughed," said Guardiola. "They said, 'qualifying for the Champions League is not a big success'. But I know it because it happens with clubs in this country. They were dominant for many years and after they were many years not qualifying for the Champions League. "The one team that has been in the Champions League for the past years has been Manchester City . Now we are at risk. Of course we are. Definitely." MORE TO FOLLOW We'll be bringing you the very latest updates, pictures and video on this breaking news story. For the latest news and breaking news visit: express.co.uk/sport/football . Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @dexpress_sport - the official Daily Express & Express.co.uk Twitter account - providing real news in real time. We're also on Facebook @dailyexpresssport - offering your must-see news, features, videos and pictures throughout the day to like, comment and share from the Daily Express, Sunday Express and Express.co.uk .
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