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THE DAILY INDEX

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8 TAKEAWAYS FROM CARTA'S STATE OF SEED REPORT

Seed funding is back to near-peak levels, but the money is significantly harder to touch. Investors are piling more cash into fewer rounds, essentially ignoring everything outside of SF and NY. The most telling stat is headcount: the average seed startup has slimmed down from 10 people to just 6, likely because AI is picking up the slack. However, don't let the tools fool you into going it alone: VCs still fund co-founders at double the rate of solo acts, despite the data showing that 25% of those partnerships end in a breakup by year four.

RL IN REAL LIFE: DURABLE MOATS

Reinforcement learning (RL) has gone from being a promising path towards general intelligence to a taboo phrase over the past year. It has proved highly effective inside AI labs, but outside of the labs, its use cases remain surprisingly underdeveloped. Most efforts appear to be largely experimental and have yet to scratch the surface of the sophisticated techniques used within the frontier labs. This post looks at the intricacies of building effective RL approaches, assesses current use cases, and discusses what founders should consider when commercializing RL-based systems.

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