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it's wild. Really hits home on what the future of obtaining information is going to be like in 5 years or even less. Wow. Assuming there are a lot of inaccuracies in the responses, but crazy to think where this is going. And how easy it is now to distribute misinformation. They need to get a handle on the accuracy part of it, and fast.
I asked BARD this question:
list the companies that Veritone has invested in?
Unfortunately, Veritone does not publicly disclose a comprehensive list of its investments. This information is often considered confidential and not shared widely. However, based on publicly available information, I can share some companies that Veritone has invested in:
Companies Veritone has invested in:
Orchard Clips: A company that provides a platform for creators to distribute their content internationally. Veritone announced a licensing deal with Orchard Clips in June 2023.
Amper Music: A music technology company that uses AI to help musicians and songwriters get their music heard. Veritone acquired Amper Music in 2022.
Mediafly: A sales enablement platform that uses AI to help salespeople be more effective. Veritone partnered with Mediafly in 2022 to offer its AI solutions to Mediafly customers.
Facephi: A biometric authentication company that uses AI to verify identity. Veritone partnered with Facephi in 2022 to offer its AI solutions to Facephi customers.
SkyBiometry: A biometric identification company that uses AI to identify people from their iris patterns. Veritone acquired SkyBiometry in 2021.
Imagen Technologies: A company that develops AI-powered video analysis solutions. Veritone acquired Imagen Technologies in 2021.
ActiveScaler: A company that provides a platform for managing and distributing video content. Veritone acquired ActiveScaler in 2020.
Additionally, Veritone has invested in several venture capital funds, including:
Amplify Partners: A venture capital firm focused on investing in early-stage technology companies.
Bessemer Venture Partners: A venture capital firm focused on investing in growth-stage technology companies.
Lightspeed Venture Partners: A venture capital firm focused on investing in early-stage technology companies.
It's important to note that this is not an exhaustive list and Veritone may have invested in other companies that are not publicly known.
this is crazy. Hard to believe.
Ten Most Recent Patents Assigned to Veritone (As of December 8, 2023):
1. Patent Number: 11543727
Title: System and method for content redaction and repurposing
Date of Patent: December 5, 2023
Inventors: Peter Nguyen, Chad Steelberg
2. Patent Number: 11540442
Title: System and method for dynamic content selection and delivery based on user context
Date of Patent: December 5, 2023
Inventors: Karl Schwamb, Yu Zhao, Peter Nguyen
3. Patent Number: 11539566
Title: Methods and systems for identifying and managing audio and video assets
Date of Patent: December 5, 2023
Inventors: David Kettler, Chad Steelberg, Yu Zhao
4. Patent Number: 11539446
Title: System and method for multi-modal content analysis using neural networks
Date of Patent: December 5, 2023
Inventors: Peter Nguyen, Chad Steelberg, Yu Zhao
5. Patent Number: 11538402
Title: System and method for generating synthetic media using generative adversarial networks
Date of Patent: December 5, 2023
Inventors: Karl Schwamb, David Kettler, Chad Steelberg
6. Patent Number: 11537034
Title: System and method for automated content creation using natural language processing
Date of Patent: December 5, 2023
Inventors: Peter Nguyen, Yu Zhao, Chad Steelberg
7. Patent Number: 11535566
Title: System and method for real-time content indexing and analysis
Date of Patent: December 5, 2023
Inventors: Chad Steelberg, David Kettler, Karl Schwamb
8. Patent Number: 11535028
Title: System and method for personalized content recommendations
Date of Patent: December 5, 2023
Inventors: Peter Nguyen, Karl Schwamb, Yu Zhao
9. Patent Number: 11533150
Title: System and method for content moderation and compliance
Date of Patent: December 5, 2023
Inventors: Chad Steelberg, Peter Nguyen, Yu Zhao
10. Patent Number: 11532141
Title: System and method for generating interactive content experiences
Date of Patent: December 5, 2023
Inventors: Karl Schwamb, David Kettler, Chad Steelberg
yeah, saw that back on 11/29. you can also keep track of updates here. https://docs.veritone.com/#/versions/readme
you should check it out. It's interesting to see what it comes up with. https://bard.google.com/chat
These have to be all patent applications, not issued patents.
And these patents, if true, have to be "unpublished" patent applications. Otherwise we would be able to look them up at USPTO
Companies have a choice to file applications unpublished, in order to delay the disclosure of the invention until patent issue.
So if these are unpublished patent applications, then it is interesting that BARD would somehow have access to the data that contains these unpublished applications.
But I don't know. I have been fooling around with BARD, and it does produce inaccurate information. But if BARD just made up these patent names, then it is amazing with how it was able to come up with patent names that are so on point with Veritone's business.
If they are actually real unpublished Veritone applications, then I guess it looks like they have been working hard behind the scenes. jmo
Asked it again in a different way.
list Veritone's most recent patent applications
View other drafts
Unfortunately, Veritone does not publicly disclose a list of their most recent patent applications. Patent applications are not published until they are granted, which can take several years. However, I can share some information about Veritone's recent patent activity:
Recent patents granted:
November 30, 2023: Patent No. US 11,514,679 B2 for "Method and system for generating a media asset metadata profile using AI-based analysis of audio and video content."
November 28, 2023: Patent No. US 11,512,421 B2 for "System and method for dynamically selecting and combining AI models for generating an analysis of data."
November 8, 2023: Patent No. US 11,503,141 B2 for "Method and system for generating a narrative summary of video content."
Almost seems like Bard is just pulling this information out of its ass and making it up. Pretty creative and on point though. Weird.
Asked Google BARD to list Veritone's most recent patents
It came back with this:
1. US Patent No. 17,943,283: "System and method for dynamic content selection and delivery based on user preferences and context" (Assigned: October 26, 2023)
2. US Patent No. 17,942,178: "System and method for identifying and extracting video segments of interest" (Assigned: October 26, 2023)
3. US Patent No. 17,941,340: "System and method for generating synthetic audio data using a neural network" (Assigned: October 25, 2023)
4. US Patent No. 17,939,669: "System and method for generating and customizing video content" (Assigned: October 24, 2023)
5. US Patent No. 17,939,281: "System and method for extracting and associating audio and visual features from a media stream" (Assigned: October 24, 2023)
6. US Patent No. 17,938,373: "System and method for analyzing and extracting information from video content" (Assigned: October 23, 2023)
7. US Patent No. 17,937,309: "System and method for identifying and verifying speakers in audio content" (Assigned: October 21, 2023)
8. US Patent No. 17,936,474: "System and method for monitoring and analyzing media content in real-time" (Assigned: October 20, 2023)
9. US Patent No. 17,935,153: "System and method for optimizing content delivery based on network conditions" (Assigned: October 19, 2023)
10. US Patent No. 17,934,295: "System and method for generating AI model ensembles for improved performance" (Assigned: October 18, 2023)
Please note that this list reflects the most recent patents assigned to Veritone as of October 27, 2023. New patents may be assigned in the future.
But when I go to USPTO, Google Patents, Justia, or wherever, I can't find any record of them. So is BARD just making these up?
Asked Bard about recent Veritone trademarks, and it came up with this:
August 2, 2023
VERITONE AI
Software for creating and managing artificial intelligence models
150 - New Application Submitted
September 1, 2023
VERITONE AI SOLUTIONS
Software as a service (SAAS) featuring artificial intelligence for data analytics, content creation, and media processing
150 - New Application Submitted
September 1, 2023
VERITONE MEDIA INTELLIGENCE
Software for analyzing and extracting information from media content
150 - New Application Submitted
September 13, 2023
VERITONE VERSE
Software as a service (SAAS) featuring artificial intelligence for managing digital assets
150 - New Application Submitted
October 11, 2023
VERITONE ENGAGE
Software as a service (SAAS) featuring artificial intelligence for customer engagement and marketing automation
150 - New Application Submitted
October 19, 2023
VERITONE PRESERVE
Software for preserving and archiving digital assets
150 - New Application Submitted
Again, I can't find these trademarks anywhere else.
Just an observation.
Back in November of 2021 Veritone announced the convertible at 201.25M, interest rate at 1.75%, and conversion price of 36.76.
201.25M divided by 36.76 is about 5.474 M shares. So the convertible note holders if converted, would have held about 5.5M shares.
Of course, then Veritone stock collapsed, as well as the convertible note holders' investment.
For the new 77.5M debt facility, If you look at the list of lenders as stated in the sec filing, the lenders appear to be involved with convertible bond investing. Also saw on a Google search Highbridge Capital held some of the convertible notes. So, it looks to me like the lenders may be the same as involved in the Notes.
If/when the new debt facility goes through, Veritone will have issued these lenders warrants to purchase 3,008,540 shares of stock at $2.576
There will be 91M left of the convertible notes. Those notes could be exercised into 2.475M shares if the stock goes above 36.76.
So adding 3,008540 plus 2,475,000 = 5,483,540 shares, or roughly 5.5M shares, the same number of shares as the original convertible notes.
https://www.sec.gov/Archives/edgar/data/1615165/000095017023063678/veri-ex10_3.htm
This article back from September compares Snowflake to Databricks.
To compare Databricks to Snowflake, one needs to understand the differences between a data lake and a data warehouse.
Databricks hosts a data lake, which is a centralized location for collecting all of an organization's structured and unstructured data. Snowflake operates a data warehouse, which only collects structured data.
Now SNowflake focused on unstructured data. Which is what Veritone has been focused on all along, and Veritone uses a data lake.
https://www.fool.com/investing/2023/09/08/forget-amazon-microsoft-google-cloud-snowflake/
And this article from yesterday. Databricks now offering aiWare like services.
Then, with the unified AI playground and MLFlow evaluation, developers get the ability to access models from different providers, including Azure OpenAI Service, AWS Bedrock and Anthropic and open source models such as Llama 2 and MPT, and see how they fare on key metrics like toxicity, latency and token count. This ultimately enables them to deploy their project on the best-performing and most affordable model via model serving – while retaining the option to change whenever something better comes along.
https://venturebeat.com/ai/exclusive-databricks-launches-new-tools-for-building-high-quality-rag-apps/
Looks like everyone is pursuing aiWare like features. And ironically, Veritone has swept discussion of its aiWare features under the rug all year.
We know last year Veritone said they were going to "change the narrative", focus on ecosystem, and opportunities outside of the ecosystem will be pursued with partners. Well, if they are telling the truth, then maybe we are seeing these partners now heading to market. jmo
also find it interesting that Snowflake comes out with Cortex, while earlier in the year Veritone offerings were removed from Snowflake Marketplace. Veritone had about 9 different categories on their marketplace, and then disappeared.
Veritone even despite modest success, has at least established themselves as a practicing entity. Gives them a lot more credibility for licensing IP vs. a non practicing entity. Jmo
Agree with cpeter the next 6 months are critical. Think March report is critical. As far as the term loan. It's not consummated yet as far as we know. Still waiting until the 15th to see if something better comes up. If any interest in Veritone then now is the time to come forward and make a deal. If consummated then the lenders will have the option to purchase 3m shares or 7-8 percent of the company. And Veritone has opportunity to pay the loan in shares. If Veritone is expecting big things, then the loan gets easy to pay with a higher stock price. I also noticed that Highbridge capital had also owned some of the convertible notes. Would like to know who is all behind those notes.
As far as aiWare and these other platforms coming out. Interesting how Veritone supports AWS. Partnering on media and entertainment. Joining their center of excellence. Saw AWS post about their deal with PGA golf and liked by RS. Why is Veritone so affectionate towards AWS as they release Bedrock with aiWare like features and also have a deal with PGA to do the things Veritone does for sports.
When you think about these huge companies coming out with platforms with aiWare like features, it's easy to see how Veritone would have a hard time competing with them on the platform level. Snowflake and Amazon can provide a ton more features and could easily just give customers the aiWare like features for free. Guessing this is not about competing platforms but all about licensing IP. And the big dogs will play hard ball when it comes to negotiating license agreements. Probably why Amazon put the brakes on pando services. But as far as licensing goes, I think Veritone had done a good job of establishing the credibility of their IP. They have the Deloitte reseller agreement, they have some pretty big customers that are using aiWare and also government contracts. So for a small company with no credible backing, think they are still a Factor to be reconned with as far as IP.
We may be surprised at how much entrenched aiWare already is. Speculate that a big part of all the comments of "disruptive growth" for 2024 have to do with converting trial customers into paying customers.
And Snowflake Cortex sure looks like it has aiWare capabilities, as does Amazon Bedrock, and other instances. https://www.snowflake.com/blog/use-ai-snowflake-cortex/
And if Snowflake Cortex is not an instance of licensing aiWare capabilities, then Veritone basically rolled out the red carpet to give them ideas on how to design their own platform.
Everyone is now thinking along the lines now of what Chad S used to evangelize years ago. No excuses for aiWare not to be successful.
And the interesting thing is that Veritone has not marketed its aiWare capabilities all year long. Instead decided to focus on "ecosystem", with many PRs not even mentioning their platform. If these other aiWare like platforms have nothing to do with Veritone, then it is beyond crazy to think that Veritone would not have gotten the jump on marketing aiWare ahead of these product releases. Still silent even on aiWare.com
Veritone doesn't want you to know about their hiring solutions, and they don't want you to know about aiWare.com.
There hasn't been a Linkedin post from Broadbean or Pandologic in 2 weeks.
Still no website that I can find concerning Veritone Hire. And Veritone doesn't list recruiting as an industry on their website.
agreed, this is not what Veritone investors signed up for. Veritone attracted all of their capital over the years on the promise of aiWare. Now they completely shut investors out on aiWare prospects and progress.
been following Amazon Reinvent and Amazon Bedrock. Sounds like it has aiWare capabilities. Particularly the fact that is uses a single API for all third party AI models. Sounds just like Veritone's AION standard.
And Veritone doesn't appear to even want anyone to know about aiWare anymore. Once again, todays PR doesnt mention aiWare, except in the "about Veritone" section.
This has been a very painful investment, but I don't view them as being incompetent. I think there is a catalyst for disruptive growth, but they refused to say anything about it. So they came up with the non answers.
Next important date will be Dec. 15, the deadline to go through with the debt transaction. Pretty lame if they can't get a better deal than that. jmo
They had filed for the delay, and then didn't even delay the10q. Don't get it.
If aiWare not viable, then have no idea what the catalyst is for 2024 disruptive growth. Also, still nothing on the Pando Broadbean combo Veritone Hire.
also noticed on Linkedin, Greg Loose Head of Product for aiWare is looking for a new job.
Today's PR, and yesterday they put out this video.
In just over 30 days, how does a steaming pile of dog shit transform itself into a disruptive growth company?
The OpenAI fiasco could be the best thing that ever happened for aiWare. Now companies will no longer trust or rely on just one AI model.
encouraging but time for some news.
Noticed CS no longer mentioned in aiWare history. Now says, "A team of product managers, designers, data scientists and engineers founded aiWARE in 2014"
https://aiware.com/about
it's back up now
took down the November investor presentation. Now back to August.
They were going to provide more detail on the term loan in the 10q. Now the 10q being delayed. Think maybe delayed for other reasons than stated. Hopefully for good news. But I suspect that with the announcement of entering into this term loan, and have one month to go through with it, there may be other Strategic options being discussed with other players. jmo
wonder if Chad would have bought Briadbean, for that matter.
You could be right, but its incredible that Veritone would think they can afford to wait until March to start talking about aiWare.
Wonder where the stock price would be right now, if CS had been touting aiWare all year.
They talk about disruptive growth in 2024. Inflection point for growth beginning of 2024. They make no mention whatsoever any catalyst for this.
At the same time, they don't mention the aiWare.com site, and they never mention anything about Chad S and his work as a consultant long with the aiWare team. We do know that Chad's work extends through the first quarter of 2024. We've seen on Linkedin about end of year aiWare goals (roadmap) accomplished.
Could very well be that the disruptive growth goes hand in hand with aiWare roadmap and aiWare.com. And per the new investor presentation looks like they are finally going to start talking about aiWare capabilities again, jmo
Ryan said " going to take a conservative view on the hiring side of the relationship with Amazon going into, obviously in Q4, but even into 2024."
So can probably add another year to that.
Sure appreciate your efforts. I'm sure you will be very thorough in your conversation.
According to this page, "Amazon has also negotiated deals with third-party providers on recruitment tool discounts." You are probably right, that each DSP entity could choose not to use the recruitment tool discounts. https://logistics.amazon.com/marketing/opportunity
So, in light of the Google searches showing Pando involvement with DSP hiring, I assume Pando and Amazon have a negotiated agreement that is being executed by those DSP's that participate. Jury still out on warehouse jobs, etc.
But conference call very tight lipped, only saying we're taking "conservative view on the hiring side of the relationship with Amazon"
Nice to have a mention of Veritone here by AWS. https://www.linkedin.com/feed/update/urn:li:activity:7128485727390109697/
Highbridge and lenders probably don't care so much because under certain circumstances, Veritone can make loan payments in the form of stock. So lenders could end up owning more of Veritone than the 3M shares from warrants.
They spoke about disruptive growth in 2024, both in the August call and in the November call, but still have never elaborated.
UBS analyst even tried to get more color, and Zemetra response was blunt, almost rude. Then RS followed up with a complete Non-answer.
Jason Park
Got it. Thanks a lot. And in the prepared remark, you also said 2024 will be an inflection point for growth trajectory. So can we break that down a little bit by different verticals? Can you talk about some of the trends that you see as we go into ‘24 for software, advertising, hiring trends, anything you can share will be helpful. Thank you.
Mike Zemetra
Yeah, we'll give more guidance on 2024 in our annual call in March.
In light of their present cash situation, I just don't understand the Broadbean acquisition. Yeah, looks like they were trying to replace lost revenues, but to do this by depleting your precious cash, while in a very soft market, possible recession, couple with lost Amazon revenue, it just makes no sense to me.
Thanks for sharing that info semperwm.
What is your take on the absence of Amazon as far as revenues, yet as we've discussed earlier, google searches showing a long list of Amazon hiring drivers which appear to be using Pandologic?
That would be nice.