Good morning! Here’s hoping you got enough rest and didn’t spend the weekend trying to play as much Dyson Sphere Program as you could (not that I would know anything about that!).

In the newsletter this morning we have a look at the hurdles U.S. VCs face in trying to secure a foothold across the pond; Google’s AI ambitions for its mobile ecosystem; several interviews with key AI leaders; a fascinating fundraise by Interview Kickstart, and notes on the recent Techstars shakeup. To work!

– Alex

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TechCrunch Top 3

1. Why U.S. investors aren’t figuring Europe out: U.S.-based venture capitalists rushed to Europe when things were fine, and a lot of them left just as quickly when the market turned. What’s getting in the way? Cultural diversity, a different form of startup network, and local competition were the biggest hurdles, TechCrunch’s Rebecca Szkutak reports. European investors also said that some North American VCs get as far as London, but no further — that’s a tough place to put up camp if your target is the EU!
2. Google is bringing Gemini to all your mobile devices: Google is bringing its Gemini AI model to a host of new device categories, including phones, cars and wearables, the company said at Mobile World Congress (MWC). If your device is a part of Google’s mobile ecosystem, expect a lot of AI to arrive in short order. (More from MWC here.)
3. Techstars retrenches, retools: Techstars has chosen to consolidate its physical presence, and that isn’t being received well. While the accelerator has stressed that it intends to continue investing at a rapid clip in early-stage startups around the world, some of its former staffers chided the company, arguing that it has lost its focus on founders. What is clear is that the venture downturn is impacting private-market investors the world around.

Don't miss these

A short overview of Reddit’s IPO: This weekend on Equity, we filed quickly through the key financial results from Reddit’s IPO filing. If you want to know more, we have a longer dig into the numbers here, notes on its AI revenues here, and how the company discusses risks to its model here.

On the record with AI Now Institute’s Amba Kak: Continuing TechCrunch’s ongoing series of interviews with women in AI, Dominic-Madori Davis sat down with Amba Kak to chat about what’s happening in tech around the world, and how “the AI boom [is] further entrenching the concentration of power within a very narrow section of the tech industry.”

TechCrunch also interviewed Miranda Bogen recently, the founding director of the Center of Democracy and Technology’s AI Governance Lab. Both of these are well worth your time.

Stellantis is still besties with Waymo: The self-driving movement has hit a few potholes lately, but carmaker Stellantis is still working with self-driving company Waymo – an Alphabet project. So much so that Stellantis CEO Carlos Tavares told TechCrunch that “the companies are deepening [their] partnership.” Good. I hate driving.

What to do when there are still no IPOs: Sure, Reddit is gearing up to go public, but it’s an old company that has already been sold once. For the huge number of younger startups looking for an exit, the barely open IPO window has kept out liquidity. It’s no surprise then that investors are getting creative to generate liquidity for their own backers.

Interview Kickstart raises $10M after self-funding for a decade: Companies that manage to run profitably for a long time and only choose to raise venture capital late in life are very interesting, because they often have very unique DNA as a result of their bootstrapped life. Interview Kickstart is one such: It decided to raise capital after its AI work last year saw lots of market uptake. The company’s service helps tech pros learn new skills, and since everyone wants to be in AI today, it’s not a shock to see the company find new sources of growth.

Spend all day inside? Worry not, Seaborough is here to light your path: I don’t want to admit how much time I spend inside during the winter. It’s cold outside and I don’t love being chilly. Thankfully, tech is replacing some of the lost sunlight: Seaborough’s near-infrared hardware could help folks get the light they need to stay healthy without having to put on shoes.

Truecaller doubles down on India: India is the biggest market for Truecaller, a service that provides caller identities, which many use to avoid spam calls. TechCrunch reports that after rolling the service out in the United States, Truecall is bringing “call recording and transcription for paid users” in India as well.

Before you go

Lenovo’s new see-through laptop: “Something I’ve always admired about Lenovo,” TechCrunch’s Brian Heater writes, “is the way the Chinese tech giant really lets its freak flag fly.” This time, at MWC, we clapped eyes on a transparent laptop from the company, which apparently seems to work pretty well. And it looks awesome. Given that most laptops look either like wannabe Macbook Airs or bricks, something new and fun is more than welcome.

• Engineering Manager at Murmuration (USA)
• Consultant - Workday Implementation Project Manager at Central Park Conservancy (non-profit organization) (New York, NY, USA)
• Enterprise Software & Service Manager at Valley Water (San Jose, CA, USA)
• Senior Cyber Security Analyst at Valley Water (San Jose, CA, USA)
• Business Systems Supervisor at Pennsylvania Turnpike Commission (Middletown, PA, United States)

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