- GRIT
- Posts
- Who Just Launched A Fund?
Who Just Launched A Fund?
Anthropic, Spirit, Drug
![Grit Logo](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/510b0cb2-899b-4e97-88ea-32dd4b5c8d10/Grit_logo_b_g.png?t=1696389805)
Good Morning!
Happy Wednesday! Let’s have a good day:
👉Anthropic launches new fund
👉Spirit Airlines earnings are in
👉A new weight loss drug
ANTHROPIC: New Fund
Anthropic, an AI startup, and its major investor, Menlo Ventures, are launching a $100 million fund to support early-stage startups using Anthropic's technology. Menlo will provide the investment, while Anthropic will offer founders $25,000 in credits for its large language models.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/4e63a6ef-8fab-4b6d-adef-024cca3dbf84/ACRVXOZUFNKW7J4E3Z2Z7N4AQ4.jpg?t=1721221004)
Source: Reuters
The Anthology Fund is similar to Apple’s iFund, which supports developers on Apple’s platforms. With AI startup funding over $24 billion in Q2, venture capitalists are keen to attract AI startups. Anthropic will offer coaching, quarterly meetups, and a direct support line but won't take equity in the startups. Instead, it aims to create a feedback loop to enhance its products. This initiative competes with OpenAI's $175 million Startup Fund.
🎯GRIT TAKE:Putting politics aside, having someone on the … upgrade to VIP now to read the full GRIT Take!
EARNINGS: Spirit Airlines
Spirit Airlines reported a bigger loss than expected for the last quarter due to lower revenue. They expect a loss of $160 million to $173 million, higher than the previous estimate of $145 million and revenue of $1.28 billion, below the forecast of $1.32 billion.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/6baada8e-d404-4250-b4ec-ba6887089d17/Spit-Airlines-Airbus-A321neo-at-Detroit-Metropolitan-Wayne-County-Airport-DTW.jpg?t=1721220968)
Source: Bloomberg
Non-ticket revenue per passenger was lower than anticipated. Spirit and Frontier now offer bundled ticket options but face challenges like market oversupply, engine recalls, and a blocked JetBlue acquisition.
DRUG: New Weight Loss
Novo Nordisk and Eli Lilly shares fell after Roche announced positive early-stage trial results for its new obesity drug. Roche’s once-daily pill, CT-996, showed a 6.1% weight loss in obese patients without Type 2 diabetes, intensifying competition in the weight loss market.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/bfa5ce6f-c19c-4bba-bb07-3be98537caa3/107404975-1713869742981-gettyimages-1968671995-SWITZERLAND_ROCHE.jpeg?t=1721220849)
Source: CNBC
This comes as the weight loss drug market grows, with Roche's oral pill offering an alternative to injections. Roche acquired Carmot Therapeutics in January and reported promising early data for another weight loss drug candidate, CT-388, in May.
Chart of the Day
📊 NFL Revenues
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/0b1e31b1-6f95-4d4d-8aa9-86282feb649c/IMG_6649.jpg?t=1721221040)
Source: @Carbon Finance
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/54390825-0249-4e73-9054-cc957449cfd9/IMG_6650.jpg?t=1721221055)
Source: @wallstbets
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/1a73a463-7534-411e-9994-df9e0567fbf9/Screenshot_2023-10-04_at_11.14.52_AM.png)
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply