Photo: Bret Hartman / TED on Flickr
Trump Says Elon Musk Will Co-Lead Future Department Of Government Efficiency, Dogecoin Surges 20%
- Written by Andrea Miliani Former Tech News Expert
In a Rush? Here are the Quick Facts!
- Donald Trump chose Elon Musk and Vivek Ramaswamy as leaders of the future Department of Government Efficiency (DOGE)
- Dogecoin increased its value by 153%, surpassing Bitcoin’s 30%
- Musk had previously complained about U.S. bureaucracy slowing down his space missions and will now lead the department to ease these processes
Last night, President-elect Donald Trump announced entrepreneurs Elon Musk and Vivek Ramaswamy as leaders of the future Department of Government Efficiency. The new department Trump expects to create during his government has been referred to as DOGE, the same name as Musk’s memecoin DOGE, and the cryptocurrency surged over 20% this Tuesday.
“These two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” said Trump in a public announcement .
According to CNBC , Tuesday night Dogecoin went up nearly 20%. Since the elections, the cryptocurrency has increased its value by 153% surpassing Bitcoin—which increased its value by 30%. It could be a sign that retail investors are interested and willing to take risks.
This week, the Bitcoin price surpassed its record high above $82,000 . Trump’s support of the crypto market during his campaign and now government plans have increased crypto investors’ confidence and interest in the near future.
Elon Musk invested around $200 million—as reported by the Associated Press —to help the republican candidate during his campaign and Trump promised the billionaire participation during his government.
Trump said the new department will be “the Manhattan Project” of the moment and is expected to optimize bureaucratic processes in the United States and reduce government spending.
Musk has previously complained publicly about U.S. bureaucracy in executing his ambitious projects with his multiple tech companies. In September he explained that the government has been slowing down his space missions like Starship missions to colonize Mars, and expressed his concerns about Kamala Harris winning the elections.
Photo by Mina Rad on Unsplash
AI Startup Writer Raises $200 Million, Reaches $1.9 Billion Valuation
- Written by Andrea Miliani Former Tech News Expert
In a Rush? Here are the Quick Facts!
- Generative AI company Writer raised $200 million to expand its full-stack AI platform
- The company reached a $1.9 billion valuation and expects to generate $50 million in annual revenue by the end of the year
- Writer wants to expand and develop autonomous AI solutions
The generative AI startup Writer recently raised $200 million to expand its platform, reaching a $1.9 billion valuation.
According to Forbes , the round C series was led by Radical Ventures—an AI-focused firm—, private equity firm Premji Invest, and Iconiq Capital.
Writer, founded in 2020 by Waseem AlShikh and May Habib, started as a content creation company specializing in blogs, descriptions, and summaries, and evolved to include services like developing generative AI applications and workflows, analyzing documents for compliance, and optimizing processes to reduce costs.
“What we say now is that if you can write it, if you can describe it, you can build it,” said CEO and co-founder May Habib to Forbes. She embraces her company’s evolution and expects to reach $50 million in annual revenue by the end of this year.
According to TechCrunch , in 2023, the full-stack AI platform company built its own large language models (LLM) Palmyra, for text generation which can understand their client’s lingo with its architectural approach.
“At Writer, we’re not just creating AI models that can execute tasks, but developing advanced AI systems that deliver mission-critical enterprise work,” said Habib in the press release . “With this new funding, we’re laser-focused on delivering the next generation of autonomous AI solutions that are secure, reliable, and adaptable in highly complex, real-world enterprise scenarios.”
Writer has been working with large global businesses, including companies like Uber, Salesforce, Qualcomm, and N26 among its clients.
The startup is competing in the AI agent market, along with other startups like 11x.ai—which recently raised $50 million in a series B funding — and companies like Slack , and Microsoft .
