Stormy skies are ahead for AI and the future forecast is not looking so good for the Cyxtera data center. A sunny outlook though for younger companies with VCs taking notice.
What’s in store for AI?
“Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks, such as pandemics and nuclear war,” released the Center of AI Safety, a nonprofit organization. The open letter is signed by more than 350 executives, researchers, are engineers in the AI field. Contrary to these beliefs, a computer scientist from Princeton University, Arvind Narayanan,” Says current AI is nowhere near capable enough for these risks to materialize.”
Will fund-of-funds open the door to early-stage deals?
The late-stage venture market is a perilous place to be at the moment, particularly for those itching to offload assets in the public markets.
For that reason, many VCs dedicated to backing the most mature of startups are glancing behind them to see what the earlier stages have to offer. The advantages of this strategy seem obvious—today’s early-stage companies could mature in a more forgiving exit environment—particularly for those worried about late-stage valuation trends.
Most investors who focus on more mature companies have simply begun making direct investments in younger companies. But there’s another way.
Andreessen Horowitz is preparing to launch a fund-of-funds, Business Insider reported. While the details of its plans—such as size and whether it will be raising external capital—are unknown, the FoF vehicle reportedly has the express purpose of giving the firm a stronger foothold in the early-stage market.
SOURCE: Leah Hodges – Pitchbook
Cyxtera Files Chapter 11
Cyxtera initiated a pre-arranged process under Chapter 11 of the United States Bankruptcy Code in U.S. Bankruptcy Court. The company expects to use the Chapter 11 process to strengthen its financial position, meaningfully deleverage its balance sheet and facilitate its long-term success. Cyxtera has received a commitment for $200 million in debtor-in-possession financing from certain of its lenders and is is continuing to pursue a potential sale of the business or a significant investment from a new investor. (Cyxtera – June 4th)
eCloud Upcoming Events
This month you will find eCloud researching, learning, and presenting in Washington, DC and Denver, Colorado.
AWS Summit Washington, DC – June 7-8th This event is tailored to the public sector community. Shelly Vanausdoll and Eric Sanders hope to meet in person.
https://aws.amazon.com/events/summits/washington-dc/
eCloud is a sponsor at the annual APTYS Solution Connect 2023, a customer conference created specifically for customers to collaborate, connect, and share ideas with fellow bankers and APTYS executives as well as discuss industry trends, products roadmaps, and innovative approaches to today’s top payment industry challenges. Connect with John Stewart at this event in Denver, Colorado June 21-22 – https://www.aptyssolutions.com/connect-2023/
In July eCloud will be in Toronto and NYC!
Inside eCloud and Promotions
eCloud has MSSP Level 1 status!
AWS Level 1 MSSP Competency Partners
eCloud has MSSP Level 1 status! AWS Level 1 MSSP Competency Partners provide 24×7 fully managed security services uniquely designed in collaboration with AWS security experts to protect, monitor, and respond to security events of AWS environments. eCloud has also developed a security scanning script that identifies vulnerabilities in an existing AWS deployment by severity and maps the remediation to an AWS security service. This solution is in full alignment with the AWS Well-Architected Framework.
Today’s security operations center (SOC) has to mitigate emerging and evolving cyber threats but often lacks vitality needed security staff and resources. Security orchestration, automation, and response (SOAR) automate workflows, making them more efficient, and less reliant on personnel-intensive manual processes.
Do you want a FREE SECURITY CONSULTATION on better securing your AWS environment?
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Yes – Fixed Fee Migration!
Promotion: A Fixed Migration Fee– As a trusted premier advisor your cost will be PREDICTABLE. You know what you will pay before you begin – taking out any risk to the customer. eCloud has helped hundreds of businesses move to the cloud: evolving their legacy, accelerating scale, and on the average of 34% cost reduction. Let us help yours!
Want to learn more about our FIXED MIGRATION FEE and capabilities? Contact [email protected] to set up a meeting.
Georgia Titan 2023
eCloud Managed Solution’s CEO, Eric Sanders, has been bestowed with the Georgia Titan 2023 award for the second year in a row! Eric is one of the most accomplished business leaders in his industry demonstrating excellence in leadership, vision, and passion and he is changing the Georgia business community and beyond. eCloud’s tag line is “Cloud isn’t what we do – it’s all we do.” and it perfectly sums up Eric’s passion, along side his vast tech expertise and human touch. Congratulation for being recognized as a leader of innovation.
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Author: Eric Sanders, Managing Partner
