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Lithuania Tech Weekly #127

Short version - Work in Progress - landing on LinkedIn,
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work in progress

  • AI in motion. Greylock's Chen argues that in the AI world, the moats have not changed - what he calls "systems of intelligence". More than 5 m images were generated with Genus AI Product Catalog tool. JobRely launched integration with ChatGPT so that recruiters would never work, again. There might be opportunities for one-person companies, but we are not there yet.
  • Vinted. Grows revenue to EUR 371m and reduces losses to EUR 43m, now having 1,800 people onboard. They have caught us by surprise with the launch of Vinted Go - one could have expected them to jump into another category ( furniture?) instead. It won't be easy - it's atoms, not just bytes, and a significant B2B arm alongside the C2C marketplace (these lockers won't be full of clothes alone - they will need other freight companies to use them). But it's a challenge worth taking - it completely aligns with the overall mission of making fashion sustainable. Apparently, delivery to a pick-up point instead of the buyer’s home reduced emissions by 62%, which is massive, not to mention reduced cost, which in turn encourages more sales on the platform. If they can make this piece of vertical integration work, it will be a cornerstone of its "factory is the product" version.


  • Big headlines at Techcrunch, Sifted, CNBC - all reporting upcoming Tech Zity Vilnius, a 55,000 sqm campus for tech firms, initiated by Mantas Mikuckas and Darius Zakaitis. They have pulled EUR 30m already and aiming at EUR 100m as the total investment (another pre-seed fund at a third of this size would come very timely, too!)
  • Sequoia introduced Atlas - an interactive map of engineering talent in Europe. Not the biggest or the deepest (that's the London advantage), Vilnius and Tallinn shines with Frontend framework competence, as well as gaming for LT.

rounds and capital

  • Nothing to report?


founder's guide

further insights

A new global economic and geopolitical regime requires structural change to already stressed growth models around the world. There is a need for speed in adapting policy approaches to respond to new ‘wartime’ models of globalisation, competitive industrial policy, the net zero transition, disruptive new technologies, and much more. Many existing policy approaches and areas of competitive strength will be compromised in this new world.

three questions, previously