#586
Who’s Prompting Whom?
Americans are split on AI’s promise. A new Pew study shows that while 56% of AI experts believe the technology will benefit the U.S. over the next two decades, only 17% of the public share that optimism. That gap widens when it comes to the workplace: 73% of experts think AI will improve how people do their jobs, compared to just 23% of the public.
Still, corporate adoption is accelerating. Shopify now requires managers to prove AI can’t do a job before approving new hires. Employees are expected to weave AI into their daily workflows – and performance reviews will reflect how well they do it. CEO Tobi Lütke is betting that autonomous agents will soon be embedded teammates, not just productivity hacks.
And yet, the AI revolution is quietly being driven from the bottom up. While skepticism remains high, hundreds of millions are already using ChatGPT and other language models to vibe code, write, summarize, and explore – with no institutional permission required.
As companies scramble to catch up with their own customers’ fluency, one question remains: in this rare moment when Mary and Joe have the same tools as multinational CEOs, who’s really shaping the future of work?

Portfolio News
MoneyLion stockholders approve proposed acquisition by Gen Digital - All regulatory approvals have been obtained and MoneyLion and Gen Digital expect to complete the acquisition on April 17, 2025, subject to the satisfaction of customary closing conditions. Upon completion of the transaction, MoneyLion will become a subsidiary of Gen Digital, and its common stock will no longer be listed on any public market. Read more
Who’s Prompting Whom?
How the U.S. public and AI experts view artificial intelligence - A new Pew Research Center report examines the views of two key groups: the American public and experts in the field of AI. These surveys reveal both deep divides and common ground - AI experts are far more positive than the public about AI’s potential, including on jobs. Yet both groups want more personal control of AI and worry about lax government oversight. Read more
Power to the people: How LLMs flip the script on technology diffusion - Transformative technologies usually follow a top-down diffusion path: originating in government or military contexts, passing through corporations, and eventually reaching individuals. Interestingly, LLMs display a dramatic reversal of this pattern - they generate disproportionate benefit for regular people, while their impact is a lot more muted and lagging in corporations and governments. Read more
Shopify says no new hires unless AI can’t do the job - Teams at the e-commerce company need to integrate AI into their workflows, and doing so will be expected of all employees going forward, according to a new memo from Chief Executive Tobi Lütke. Lütke also said employees would be questioned on their AI usage in their performance reviews. Read more
Industry News
Stripe applies for US banking license to expand merchant acquiring capabilities - Stripe’s application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter has been accepted by the state of Georgia’s Department of Banking and Finance, bringing the financial infrastructure giant one step closer to directly accessing payment card networks. Read more
Trump threats send migrants scrambling to get cash out of the US - Amid Trump’s deportation threats, remittances to Central America have surged: Guatemala saw $2b in March (+19% YoY), Honduras $1.6b (+20%), and El Salvador $1.4b (+14%). Migrants are preemptively sending money, driving up savings across economies reliant on remittances. Read more
DOJ ends crypto enforcement team, shifts focus to terrorism and fraud - This is the latest in a sweeping set of pro-crypto moves under President Donald Trump aimed at rolling back what his administration views as regulatory overreach by the Biden administration. Read more
Hackers spied on 100 US bank regulators’ emails for over a year - The attackers broke into an administrator's account at the Office of the Comptroller of the Currency, monitoring employee emails and accessing roughly 150,000 emails from May 2023 until they were discovered and ousted earlier this year. Read more
The battle for the global payments system is under way - The US wants to win this fight and the broader European public may be blissfully unaware. But those in charge of the Eurozone are also determined that this battle for technological control over the economy is one that the EU must not lose. This is the fundamental motivation for the digital euro — a central bank-issued official digital currency that, if done well and fast enough, will rival or outperform the attractiveness of dollar stablecoins. Read more
Tether considers US-only stablecoin as Trump loosens crypto rules - Paolo Ardoino, the group’s chief executive, said it was involved in discussions about US rules on stablecoins and that the administration saw them as “an important instrument for the United States”. At the moment $144b of tether tokens are in circulation but the company does not accept customers in the US. Read more
Block to pay $40m in settlement with New York finance regulator over anti-money-laundering programs - The probe revealed lax oversight of high-risk bitcoin transactions and a large alert backlog. Block must now appoint an independent monitor to oversee compliance improvements. Read more
Select Financings
Anecdotes - Palo Alto based AI powered governance risk and compliance platform raised $55m in Series B funding led by DTCP. Read more
Damisa - London based cross border stablecoin payments platform raised £2.25m in pre-Seed funding led by Fuel Ventures. Read more
Haball - Karachi based supply chain financing and payments platform raised $5m in new funding led by Zayn VC. Read more
Luzern Risk - New York City based captive insurance services provider raised $12m in Series A funding led by Caffeinated Capital. Read more
Octane - New York City based AI powered blockchain cybersecurity platform raised $6.8m in Seed funding led by Archetype. Read more
Optise - Reykjavík based B2B website performance optimization insights provider raised $2.2m in pre-Seed funding led by Frumtak Ventures. Read more
Outtake - Brooklyn based AI cybersecurity agents developer raised $16.5m in Series A funding led by CRV. Read more
Portnox - Austin based cybersecurity company raised $37.5m in Series B funding led by Updata Partners. Read more
Rain - Santa Monica based earned wage access platform raised $75m in Series B funding
led by Prosus. Read more
Rematiq - Berlin based AI for medtech compliance automation platform raised €5.4m in Seed funding led by Project A. Read more
Ryft - Manchester England based automated payment platform for marketplaces and digital platforms raised $7.3m in Series A funding led by EdenBase. Read more
Sagittal AI - London based task oriented AI solutions provider for software development raised $2.2m in pre-Seed funding led by Twin Path Ventures. Read more
Sekoia.io - France based cyber defense platform raised €26m in Series B funding led by Revaia. Read more
Sipay - Istanbul based financial services platform raised $78m in Series B funding led by Elephant VC. Read more
TransFICC - London based connectivity and workflow solutions provider for the fixed income and derivatives markets raised $25m in Series B funding led by Citadel Securities. Read more
Treble Peak - London based digital infrastructure provider simplifying onboarding and investment in private equity markets raised £5m in growth funding led by René Beltjens. Read more
Unosecur - Berlin based real time identity threat detection and response platform raised $5m in Seed funding led by VentureFriends. Read more
Vestigas - Germany based digital delivery note processing solution for the construction industry raised €8m in growth funding led by Project A. Read more
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