Source: Bloomberg
Summary
ElevenLabs, a company that uses artificial intelligence to generate human-like audio, has seen its valuation increase by more than three times in the last 12 months, according to Bloomberg. The company’s valuation growth is attributed to its innovative technology and growing demand for AI-generated audio solutions. ElevenLabs’ rapid growth has caught the attention of investors, who are eager to capitalize on the emerging trend of AI-generated content.
Our Reading
The launch follows a familiar script.
ElevenLabs is the latest AI startup to promise “human-like” audio, because “almost human-like” just doesn’t cut it anymore. Their valuation triples, and suddenly their tech is “innovative”. The “emerging trend” of AI-generated content is just a rebrand of “we’ve been trying to make this work for years”. ElevenLabs is just the latest to benefit from our collective short-term memory.
Author: Evan Null
