$2 trillion a year industry

📣 Together with Secrets To Success

3 things in business today 😎 

  1. Dutch startup Monumental is leveraging robots for bricklaying.

    The construction industry, valued at $2 trillion annually in the U.S., is ripe for innovation with robots. Dutch startup Monumental is shaking things up by using robots to lay bricks.

    Founded in 2021 by experts from Silk, they've already partnered with 25 contractors, even working on low-income housing projects. Their robots blend human expertise with efficiency to make construction safer and more efficient. To fund their growth, Monumental just raised $25 million, which will help them hire more staff and expand their technology.

  2. The FTC issued a warning regarding "quiet" changes to terms of service for AI training.

    This week, the FTC warned companies against quietly changing their rules to use people's data for AI training without their knowledge. They're concerned because big companies like Google and Zoom have made such changes in the past without telling users.

    For example, Google's policy shift in July 2023 let it use public data for AI, while Zoom's change in August 2023 allowed AI training on user data without giving users a choice. Adobe also faced criticism in June 2023 for using people's uploaded content for AI without clearly telling them.

  3. Faraday Future in danger of losing LA headquarters

    Faraday Future, the electric car startup, is in trouble for not paying rent at its Los Angeles and San Jose offices. They owe nearly $1 million in missed payments, with their landlords suing them. This adds to the startup's financial woes, as it's been struggling with fundraising and warned of potential bankruptcy.

See you tomorrow!

The Business Nerd 😎