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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.

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