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ChatGPT Learns, Figma Earns
LFG Ventures presents a weekly newsletter delivering private market (pre-IPO) insights and signals across tech and frontier industries.

Hi Friends,
This week’s radar is stacked with signs that momentum is building across AI, IPOs, and frontier tech. OpenAI makes a play for academia with Study Mode. Anthropic inches closer to OpenAI’s valuation with a $170B raise. Firefly preps for liftoff with a $5.5B IPO. Neuralink implants its ninth participant. And Figma’s blockbuster IPO sends a strong signal to sidelined tech companies that public markets are waking up.
Let’s get into it.
📡 Radar
📚 Study Mode Unlocked
A new feature designed for students, researchers, and independent learners, Study Mode shortens responses and includes real-time citations. It’s a big move toward making ChatGPT a trusted academic tool. OpenAI
🚀 Firefly Aerospace targets $5.5B IPO
Private equity-backed Firefly is preparing to go public amid a wave of investor interest in space tech. With launch capabilities and military contracts, it’s aiming to become a key player in the orbital race. Pitchbook
👀 Anthropic Eyes $170b
We previously shared Anthropic was raising at around $150B, but the latest reports point closer to $170B, just months after its last round. The AI capital war is accelerating fast and Anthropic is gunning for OpenAI-level territory and valuation. CNBC
🧬 Nine Lives for Neuralink
Elon’s brain-computer interface startup is progressing through its human trials, with nine participants now implanted. The latest patient is reportedly recovering well and actively participating in neural tests. Euronews
📈 Figma IPO Hits $45B Market Cap
Figma’s public debut was a blowout, instantly hitting a $45 billion market cap and signaling strong investor appetite for design forward, product led growth stories. Adobe’s failed $20B acquisition is now ancient history. This is Figma’s victory lap and a bullish signal for the broader IPO market as tech listings begin to thaw. Techcrunch
💬 Prompt
Where should we begin?
Explain the difference between AGI, LLMs, and machine learning to a smart 8th grader using metaphors.

📣 Updates
📈 Elon’s Private Market
We have exposure to all but Boring Co, but we are actively working on changing that. Let us know by responding to this email if you are interested.
If you could invest in one of these companies, which one would it be?
— Sawyer Merritt (@SawyerMerritt)
5:39 PM • Jul 29, 2025
🌙 To The Moon
i bought a mac mini and installed claude code on it and gave it permission to do whatever it wants on my computer
gave it a bitcoin wallet with $5,000 worth of btc in it and told it to accumulate as much bitcoin as it can under any means necessary
i’ll keep you updated
— Udi Wertheimer (@udiWertheimer)
11:53 PM • Jul 17, 2025
🚀 Automate With AI
Super deep dive on how to automate workflows using AI.
This guy literally dropped a 1-hour masterclass on building with AI and automation
— Aadit Sheth (@aaditsh)
6:08 AM • Jul 14, 2025
🧠 Wisdom
👁️🗨️ Munger Gets It
Vibes and Values must be aligned.

Have a great weekend!


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The content presented in The Markup is for informational purposes only and does not constitute an offer or solicitation by LFG Ventures to buy or sell any securities. Nothing in this publication should be interpreted as investment advice, a recommendation, or an offer to provide brokerage services. Any offers or solicitations will be made only through official offering documents and subject to their specific terms, risks, and conditions.