What’s Going On ( ... / ! / ?)
This issue is about “What’s going on”, whether it's a friendly how-are-you, a yell of surprise, a no-answer question to the universe, and a call to share the news. So, what’s going on ?
What’s going on in the startup industry 🚀
996, 007 or 965
How much should a startup founder and a team dedicate to work - the question is not new, but remains a hot topic for discussion through years.
Together with the rise of mental health awareness and balancing work and personal life, there’s an opposite trend that takes birth in China, and becomes popular in Silicon Valley. Startups and VCs are proudly demonstrating their schedules, where it’s hardly possible to find a minute for taking a shower.
As always, the truth is somewhere in between. Building a startup in today’s highly competitive market is a race, where taking a stop, unfortunately, can mean a failure. Startups, that strive to enter the US market, while physically in the other part of the world, have to run twice faster, so that not only 9-9-6 schemes (9 a.m. - 9 p.m., 6 days a week) become common, but 0-0-7 (a joke-code for non-stop).
“These days, speed is an important, if not the only, competitive advantage a startup has compared to established businesses, so working 996 has become the norm," says Sergey Bogdanov, co-founder of P2S and MP at Yellow Rocks!
Meanwhile, in China, the country where the trend emerged, the 9-9-6 culture gave a crack.
Igor Ryabenkiy, co-founder of P2S, Founder and GP at AltaIR Capital mentions:”Burning out won't help you get there faster. Building a startup doesn't come down to clocking 9 to 5 or 9 to 9. It's about having the discipline to work smarter and take breaks to recharge when you need to. Maintaining that balance is key to staying in the game long-term."
If you get tired, learn to rest, not to quit.
That’s the phrase that Alexander Korchevsky, co-founder of P2S and partner at I2BF Global Ventures saw once at a Banksy exhibition.
“As investors, we respect the hustle, but we also believe sustainable performance comes from knowing when to recharge. Planning for rest is not a weakness; it’s a long-term strategy for success,” says Alexander.
What’s going on in VCs 💸
Founders hear “no” often in venture capital. Not because their ideas lack merit, but due to fit, timing, clarity, or trust. Investors back fewer than 1% of startups, so targeting the right funds, telling a clear story, and being transparent are key. Nikolay Kirpichnikov, co-founder of P2S, partner at AltaIR Capital and SPC, shared the major reasons investors would say “No” to a startup and why a “no” does not equal “bad” for Benzinga.
https://www.benzinga.com/opinion/25/06/45811920/why-vcs-say-no-key-insights-for-founders
What’s going on at Pre-Seed to Succeed 💼
AI for Love:
P2S portfolio company LovOn raised $850K for most human-like AI relationships coach.
The round was led by Pre-seed to Succeed, with participation from HEARTFELT_ and 13 business angels.
What makes LovOn special:
✔ Voice & emotion recognition tailors the AI coach’s personality to each user’s preferences.
✔ Continuous session support builds on prior interactions for deeper therapeutic impact.
✔ Rigorous safety measures prevent AI hallucinations and ensure ethical interactions.
We’re proud of Sergey Bakaev and the team of exceptional specialists, who are successful 2-nd time founders: the team’s previous project MUBR.app with over 3M installs was acquired in 2024.
Pitch&Drink London:
If you are working in a founder mode, sacrificing live connections for success, the Pitch&Drink series of networking events from Pre-Seed to Succeed is the place to meet great people over drinks and pitch your startup with no FOMO.
On June 10 we gathered 101 guest: 33 pitching startups, 10 jury investors, 22 guest investors and 36 specialists from the industry, to network and “get deals done”.
What happens at Pitch&Drink, stays at Pitch&Drink, but the photos will help you feel the vibe!
The panel of judges was impressive:
Nikolay Kirpichnikov (AltaIR Capital / SPC)
Alexander Korchevsky (I2BF)
Laert Karaashev (Mount VC)
Alexander Nevinskiy (Somersault Ventures)
Vlad Tropko (Inkberry)
Sergey Toporov (LETA Capital)
Alexander Konoplyasty (Flashpoint)
Alexander Chikunov (Verb Ventures)
Kirill P. (Yellow Rocks!)
A special thanks to our partners Locals.org and Timon Afinsky for helping us deliver a successful event for the tech community!
Shout out to Eurasian Startup Hub for supporting Pitch&Drink.
Next stop - San Francisco 🇺🇸
Make a Leap:
10 Startups. 10 Investors. 7-minute rapid-fire meetings.
On June 19, we’re hosting an online high-intent speed-dating event designed to spark conversations between exceptional pre-seed startups and top investors.
Confirmed investors include:
🔹 Igor Ryabenkiy (AltaIR Capital) — Miro, Deel, PandaDoc, OpenWeb, Turing
🔹 Nikolay Kirpichnikov (AltaIR Capital, SPC) — Ondato, Respond.io
🔹 Alex Korchevskiy (I2BF Global Ventures) — ServiceTitan, Airalo
🔹 Sergei Bogdanov (Yellow Rocks) — Praktika AI, Buddy, Cattle Care
🔹 Danny Pantuso (Mucker Capital) — ServiceTitan, Honey, Kong
🔹 Ulad Radkevitch (Verras Capital) — Respond.io, Whizz, Vochi, OpenWeb
🔹 Martin Tobias (Incisive Ventures) — 2x IPO CEO, founder of LoudEye ($175M raised) and Upgrade Labs, now a pre-seed investor with 70+ portfolio companies, including Zapier, Carta, and UiPath.
🔹 Chet Kumar (Argonautic Ventures) — Grab, SuperAnnotate, Procore, The Honest Company
🔹 George Lin (Stealth) — Previously Head of AI/ML Research at BrandGuard AI (acq. by Sightly) and AI/ML Executive Director at Morgan Stanley.
What’s going on in AI 🤖
AI ≠ Colleague
Generative AI is increasingly being marketed as “AI employees”,a tactic designed to build trust but ultimately dehumanizes the technology and masks its real impact: replacing human jobs. In her great piece in Techcrunch, Connie Loizos elaborates how this trend risks normalizing job losses under a friendly veneer.
https://techcrunch.com/2025/06/01/for-the-love-of-god-stop-calling-your-ai-a-co-worker/
Open AI Innovation Delays
OpenAI’s open-weight model release is delayed until later this summer, with CEO Sam Altman promising the wait will be worth it due to unexpected breakthroughs. Aiming to surpass competitors like DeepSeek and Mistral, OpenAI is exploring advanced features to boost performance. This release is key for restoring trust with researchers and developers, marking a major step in OpenAI’s commitment to openness and innovation. So we’re all waiting to see what comes.
https://techcrunch.com/2025/06/10/openais-open-model-is-delayed/