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Death and taxes... and now AI?

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Sharanya Pillai

Sharanya Pillai

Published Tue, Aug 8, 2023 · 03:42 PM
    • Sure, there are tax exemptions for startups, but there’s no running away from the reality that 90 per cent of startups fail, writes Garage correspondent Sharanya Pillai.
    • Sure, there are tax exemptions for startups, but there’s no running away from the reality that 90 per cent of startups fail, writes Garage correspondent Sharanya Pillai. BT SCREENSHOT

    THEY say that nothing is certain in life except for death and taxes. That’s mostly true in the startup world too. Sure, there are tax exemptions for startups, but there’s no running away from the reality that 90 per cent of startups fail. Benjamin Cher looks into the factors behind startup failures and how founders decide to pull the plug.

    As much as startup failures are inevitable, so are the game-changing innovations they bring about. The rise of AI, in particular, feels unavoidable these days with the rush of capital and talent into the field – something I witnessed at the recent Data + AI Summit in San Francisco.

    Just a day after I landed in San Francisco, I was greeted with a surprise announcement: Databricks, the company organising the summit, was buying a young OpenAI challenger for a whopping US$1.3 billion. 

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