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Sequoia to invest in Anthropic, breaking VC taboo on backing rivals: FT | TechCrunch

Sequoia to invest in Anthropic, breaking VC taboo on backing rivals: FT | TechCrunch

Sequoia Capital is reportedly joining a blockbuster funding round for Anthropic, the AI startup behind Claude, according to the Financial Times. It’s a move sure to turn heads in Silicon Valley.

Why? Because venture capital firms have historically avoided backing competing companies in the same sector, preferring to place their bets on a single winner. Yet here’s Sequoia, already invested in both OpenAI and Elon Musk’s xAI, now throwing its weight behind Anthropic, too.

The timing is particularly surprising given what OpenAI CEO Sam Altman said under oath last year. As part of OpenAI’s defense against Musk’s lawsuit, Altman addressed rumors about restrictions in OpenAI’s 2024 funding round. While he denied that OpenAI investors were broadly prohibited from backing rivals, he did acknowledge that investors with ongoing access to OpenAI’s confidential information were told that access would be terminated “if they made non-passive investments in OpenAI’s competitors.” Altman called this “industry standard” protection (which it is) against misuse of competitively-sensitive information.

According to the FT, Sequoia is joining a funding round led by Singapore’s GIC and U.S. investor Coatue, which are each contributing $1.5 billion. Anthropic is aiming to raise $25 billion or more at a $350 billion valuation — more than double its $170 billion valuation from just four months ago. The WSJ and Bloomberg had earlier reported the round at $10 billion. Microsoft and Nvidia have committed up to $15 billion combined, with VCs and other investors said to be contributing another $10 billion or more.

The Sequoia connection with Altman runs deep. When Altman dropped out of Stanford to start Loopt, Sequoia backed him. He later became a “scout” for Sequoia, introducing the firm to Stripe, which became one of the firm’s most valuable portfolio companies. Sequoia’s new co-leader Alfred Lin and Altman also appear comparatively close. Lin has interviewed Altman numerous times at Sequoia events, and when Altman was briefly ousted from OpenAI in November 2023, Lin publicly said he’d eagerly back Altman’s “next world-changing company.”

While Sequoia’s investment in xAI might seem to have already contradicted the traditional VC approach of picking winners, that bet is widely viewed as less about backing an OpenAI competitor and more about deepening the firm’s extensive ties to Elon Musk. Sequoia invested in X when Musk bought Twitter and rebranded it, is an investor in SpaceX and The Boring Company, and is a major backer of Neuralink, Musk’s brain-computer interface company. Former longtime Sequoia leader Michael Moritz was even an early investor in Musk’s X.com, which became part of PayPal.

Sequoia’s apparent reversal on portfolio conflicts is especially glaring given its historical stance. As we reported in 2020, the firm took the extraordinary step of walking away from its investment in payments company Finix after determining the startup competed with Stripe. Sequoia forfeited its $21 million investment, letting Finix keep the money while giving up its board seat, information rights, and shares, marking the first time in the firm’s history it had severed ties with a newly funded company over a conflict of interest. (Sequoia had led Finix’s $35 million Series B round just months earlier.)

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The reported Anthropic investment comes after dramatic leadership changes at Sequoia, where the firm’s global steward, Roelof Botha, was forced aside in a surprise vote this fall just days after sitting down with this editor at TechCrunch Disrupt, with Lin and Pat Grady — who’d led that Finix deal — taking over.

Anthropic is reportedly preparing for an IPO that could come as soon as this year. We’ve reached out to Sequoia Capital for comment.

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You know those little ADT security signs? You know, the ADT logo-emblazoned yard signs or stickers you find in front of houses or slapped on a window by the front door. Well, ADT is rethinking them: today, the home security company announced the ADT Live Light, a light-up version of its logo yard sign that will—you guessed it—shine when your ADT alarm system has been tripped. 

Besides being a visual indicator for your neighbors that something is amiss, ADT says the Live Light could be useful in helping first responders identify which house is yours. It would also serve the same purpose as the stickers and yard signs that came before it: letting would-be intruders know that they risk triggering an alarm by messing with your stuff. And while it can activate automatically, you can also turn it on using the ADT+ app if you want.

The Live Light is wireless and powered by three included AAA lithium batteries. It’s IP65-rated, meaning it should be dust-proof and resistant to water jets from any direction, and should operate in temperatures ranging from 4 to 122 degrees Fahrenheit. Both good things if you’re expecting people to leave their light-up sign out in the elements year-round (although those of us in the Midwest might want to bring it in for a couple of months in the winter). The sign itself is 10 x 10 inches tall and 1.75 inches thick, and goes into the ground with a 21-inch stake, although it can also be wall-mounted. 

The Live Light requires a $25-per-month ADT Professional Monitoring subscription and costs $50, including professional installation. There’s no option to install it yourself; ADT requires that one of its own installers carry out what doesn’t strike me as a terribly complicated procedure. (But what do I know? I’m just a little ol’ country technology reporter.)

Images showing the ADT My Safety feature in the ADT+ app.
© ADT

ADT also announced a new ADT+ app feature called My Safety. My Safety extends ADT’s subscriber service beyond your house by letting you do things like set a check-in timer that, if missed, will prompt ADT to contact emergency services for you. It also offers the manual options of speaking or texting with ADT agents, or setting an “Emergency Phrase” that lets you speak a custom phrase to summon help—that is, ADT will again contact emergency services for you. The company says subscribers will be able to use that last feature even if their phone isn’t in their hand, and I’ve asked exactly how that works.

For the My Safety feature, there’s no call history, and for subscriptions with multiple people on them, only the person who initiates a call with ADT monitoring will be able to see status, activity, alerts, and notifications. It’s nice to see the company has thought of that—it can be important for victims of abuse to be able to discreetly seek help. An ADT representative told Gizmodo via email that the ADT+ app update with My Safety is available now for all subscribers in the U.S., except in Milwaukee, WI.

#ADTs #Big #Idea #LightUp #ADT #Sign #YardADT,apps,Home security,Smart Home">ADT’s New Big Idea Is a Light-Up ADT Sign for Your Yard
                You know those little ADT security signs? You know, the ADT logo-emblazoned yard signs or stickers you find in front of houses or slapped on a window by the front door. Well, ADT is rethinking them: today, the home security company announced the ADT Live Light, a light-up version of its logo yard sign that will—you guessed it—shine when your ADT alarm system has been tripped. 

 Besides being a visual indicator for your neighbors that something is amiss, ADT says the Live Light could be useful in helping first responders identify which house is yours. It would also serve the same purpose as the stickers and yard signs that came before it: letting would-be intruders know that they risk triggering an alarm by messing with your stuff. And while it can activate automatically, you can also turn it on using the ADT+ app if you want.  			 				 			 				 				© ADT 				 			 				 			 				 				© ADT 				 		  The Live Light is wireless and powered by three included AAA lithium batteries. It’s IP65-rated, meaning it should be dust-proof and resistant to water jets from any direction, and should operate in temperatures ranging from 4 to 122 degrees Fahrenheit. Both good things if you’re expecting people to leave their light-up sign out in the elements year-round (although those of us in the Midwest might want to bring it in for a couple of months in the winter). The sign itself is 10 x 10 inches tall and 1.75 inches thick, and goes into the ground with a 21-inch stake, although it can also be wall-mounted.  The Live Light requires a -per-month ADT Professional Monitoring subscription and costs , including professional installation. There’s no option to install it yourself; ADT requires that one of its own installers carry out what doesn’t strike me as a terribly complicated procedure. (But what do I know? I’m just a little ol’ country technology reporter.) © ADT ADT also announced a new ADT+ app feature called My Safety. My Safety extends ADT’s subscriber service beyond your house by letting you do things like set a check-in timer that, if missed, will prompt ADT to contact emergency services for you. It also offers the manual options of speaking or texting with ADT agents, or setting an “Emergency Phrase” that lets you speak a custom phrase to summon help—that is, ADT will again contact emergency services for you. The company says subscribers will be able to use that last feature even if their phone isn’t in their hand, and I’ve asked exactly how that works.

 For the My Safety feature, there’s no call history, and for subscriptions with multiple people on them, only the person who initiates a call with ADT monitoring will be able to see status, activity, alerts, and notifications. It’s nice to see the company has thought of that—it can be important for victims of abuse to be able to discreetly seek help. An ADT representative told Gizmodo via email that the ADT+ app update with My Safety is available now for all subscribers in the U.S., except in Milwaukee, WI.      #ADTs #Big #Idea #LightUp #ADT #Sign #YardADT,apps,Home security,Smart Home

ADT Live Light, a light-up version of its logo yard sign that will—you guessed it—shine when your ADT alarm system has been tripped. 

Besides being a visual indicator for your neighbors that something is amiss, ADT says the Live Light could be useful in helping first responders identify which house is yours. It would also serve the same purpose as the stickers and yard signs that came before it: letting would-be intruders know that they risk triggering an alarm by messing with your stuff. And while it can activate automatically, you can also turn it on using the ADT+ app if you want.

The Live Light is wireless and powered by three included AAA lithium batteries. It’s IP65-rated, meaning it should be dust-proof and resistant to water jets from any direction, and should operate in temperatures ranging from 4 to 122 degrees Fahrenheit. Both good things if you’re expecting people to leave their light-up sign out in the elements year-round (although those of us in the Midwest might want to bring it in for a couple of months in the winter). The sign itself is 10 x 10 inches tall and 1.75 inches thick, and goes into the ground with a 21-inch stake, although it can also be wall-mounted. 

The Live Light requires a $25-per-month ADT Professional Monitoring subscription and costs $50, including professional installation. There’s no option to install it yourself; ADT requires that one of its own installers carry out what doesn’t strike me as a terribly complicated procedure. (But what do I know? I’m just a little ol’ country technology reporter.)

Images showing the ADT My Safety feature in the ADT+ app.
© ADT

ADT also announced a new ADT+ app feature called My Safety. My Safety extends ADT’s subscriber service beyond your house by letting you do things like set a check-in timer that, if missed, will prompt ADT to contact emergency services for you. It also offers the manual options of speaking or texting with ADT agents, or setting an “Emergency Phrase” that lets you speak a custom phrase to summon help—that is, ADT will again contact emergency services for you. The company says subscribers will be able to use that last feature even if their phone isn’t in their hand, and I’ve asked exactly how that works.

For the My Safety feature, there’s no call history, and for subscriptions with multiple people on them, only the person who initiates a call with ADT monitoring will be able to see status, activity, alerts, and notifications. It’s nice to see the company has thought of that—it can be important for victims of abuse to be able to discreetly seek help. An ADT representative told Gizmodo via email that the ADT+ app update with My Safety is available now for all subscribers in the U.S., except in Milwaukee, WI.

#ADTs #Big #Idea #LightUp #ADT #Sign #YardADT,apps,Home security,Smart Home">ADT’s New Big Idea Is a Light-Up ADT Sign for Your Yard

You know those little ADT security signs? You know, the ADT logo-emblazoned yard signs or stickers you find in front of houses or slapped on a window by the front door. Well, ADT is rethinking them: today, the home security company announced the ADT Live Light, a light-up version of its logo yard sign that will—you guessed it—shine when your ADT alarm system has been tripped. 

Besides being a visual indicator for your neighbors that something is amiss, ADT says the Live Light could be useful in helping first responders identify which house is yours. It would also serve the same purpose as the stickers and yard signs that came before it: letting would-be intruders know that they risk triggering an alarm by messing with your stuff. And while it can activate automatically, you can also turn it on using the ADT+ app if you want.

The Live Light is wireless and powered by three included AAA lithium batteries. It’s IP65-rated, meaning it should be dust-proof and resistant to water jets from any direction, and should operate in temperatures ranging from 4 to 122 degrees Fahrenheit. Both good things if you’re expecting people to leave their light-up sign out in the elements year-round (although those of us in the Midwest might want to bring it in for a couple of months in the winter). The sign itself is 10 x 10 inches tall and 1.75 inches thick, and goes into the ground with a 21-inch stake, although it can also be wall-mounted. 

The Live Light requires a $25-per-month ADT Professional Monitoring subscription and costs $50, including professional installation. There’s no option to install it yourself; ADT requires that one of its own installers carry out what doesn’t strike me as a terribly complicated procedure. (But what do I know? I’m just a little ol’ country technology reporter.)

Images showing the ADT My Safety feature in the ADT+ app.
© ADT

ADT also announced a new ADT+ app feature called My Safety. My Safety extends ADT’s subscriber service beyond your house by letting you do things like set a check-in timer that, if missed, will prompt ADT to contact emergency services for you. It also offers the manual options of speaking or texting with ADT agents, or setting an “Emergency Phrase” that lets you speak a custom phrase to summon help—that is, ADT will again contact emergency services for you. The company says subscribers will be able to use that last feature even if their phone isn’t in their hand, and I’ve asked exactly how that works.

For the My Safety feature, there’s no call history, and for subscriptions with multiple people on them, only the person who initiates a call with ADT monitoring will be able to see status, activity, alerts, and notifications. It’s nice to see the company has thought of that—it can be important for victims of abuse to be able to discreetly seek help. An ADT representative told Gizmodo via email that the ADT+ app update with My Safety is available now for all subscribers in the U.S., except in Milwaukee, WI.

#ADTs #Big #Idea #LightUp #ADT #Sign #YardADT,apps,Home security,Smart Home

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