VC

May 10, 2025

Published 1 month ago

TL;DR

Omada Health files $100M IPO; US-China tariffs halt LA/Long Beach shipping; xAI preps Grok 3.5 beta.


Highlights

  • FDA approves Teal Health's at-home cervical cancer screening (Teal Wand), launching in California (ages 25–65)1.
  • Omada Health files for $100M IPO after 38% YoY revenue growth to $170M; Cigna is a major customer2.
  • xAI readies Grok 3.5 beta with 1M token context and advanced reasoning; model selection removed, custom instructions added3.
  • Tsinghua University introduces "Absolute Zero" self-training LLMs, outperforming peers without human-labeled data6.
  • SpaceX launches 900th Starlink satellite of 2025, marking 250th Falcon 9 mission from Cape Canaveral4.
  • Texas AG secures $1.375B privacy settlement from Google , largest to date; Google to update disclosures5.
  • US imposes 145% tariff on Chinese goods, halting container traffic to LA/Long Beach; Geneva trade talks begin8.
  • Trump administration opens Section 232 probe into imported commercial aircraft and parts from EU, UK, Japan10.
  • BlackRock and Fidelity buy over $4.5B in Bitcoin /Ethereum as Bitcoin surpasses $100K12.
  • Tesla denied "Robotaxi" trademark but will launch Austin robotaxi service in June with 10–20 Model Ys9.
  • Trump cuts $1.8B in NIH grants, halts EPA research; Europe launches €600M initiative to attract scientists13.
  • Ozempic returns to France; WeightWatchers files for bankruptcy amid GLP-1 drug adoption and UK productivity push14.

Commentary

Digital health is regaining momentum, with Omada Health’s IPO filing following strong revenue growth and the FDA’s approval of Teal Health’s at-home cervical cancer screening12. Both signal renewed investor and regulatory confidence in digital health models that improve accessibility and demonstrate payer traction. Expect increased late-stage activity and higher scrutiny on revenue quality and customer concentration, as seen with Omada’s reliance on Cigna2.

AI innovation continues to accelerate. xAI’s Grok 3.5 and Tsinghua’s self-training LLMs highlight rapid technical progress and a shift toward more efficient, less data-dependent model training36. Startups with proprietary data or vertical focus may benefit, but the pace of change and need for oversight raise execution and compliance risks6.

Geopolitical tensions are creating headwinds for cross-border startups and supply chains. The 145% US tariff on Chinese goods has sharply curtailed container flows to major US ports, impacting logistics, hardware, and consumer startups reliant on Asian supply8. The Section 232 probe into aerospace imports could further disrupt hardware and advanced manufacturing deal flow, favoring domestic or nearshoring strategies10.

In crypto, institutional inflows from BlackRock and Fidelity have pushed Bitcoin above $100K, potentially supporting new rounds for crypto infrastructure and compliance startups12. Meanwhile, Tesla ’s robotaxi launch in Austin—despite trademark setbacks—signals ongoing commercialization in autonomous mobility, with capital efficiency and integration as differentiators9.

Healthcare and biotech remain in flux. The GLP-1 drug wave is reshaping the weight management sector, as evidenced by WeightWatchers ’ bankruptcy and new productivity estimates in the UK14. US science funding cuts and Europe’s recruitment drive may trigger talent shifts, impacting where deep tech and biotech startups are founded and scaled13.

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