Running the numbers with Axiom

Top News

What Axiom Math hopes to solve: The AI startup, from impressively-resuméd MIT-and-Stanford grad Carina Hong, got a splashy profile in today’s New York Times, largely focused on one of Hong’s first hires — her former math professor, Ken Ono. Together, they’re building an “AI mathematician” that can not just solve some of our trickiest known math problems, but develop problems and solutions that no one has ever devised, all while validating its work via formal proofs. The hope is that ultimately this numerical super-intelligence will not just satisfy the curiosity of our top dweebs but provide practical real-world applications for software design, logistics, algorithmic trading, and beyond.
AI shopping app Phia raises $30M: The company has trained an AI search engine to help users seek out clothing and accessories that fit their style, while also doing price comparisons and finding great deals. It’s available as an extension for Chrome on your desktop and Safari on your iPhone, and the tool has been downloaded around 750,000 times to date. But a LOT of the buzz around this particular startup undoubtedly relates to the marquee names behind it. Bill and Melinda Gates’ daughter Phoebe is a co-founder, and backers include Hailey Bieber, Kris Jenner, and Sheryl Sandberg. The new funding round values the company at $180 million, and was led by Anthropic and Airbnb vets Notable Capital.
Fortell’s hearing aids are a hot ticket item: According to a write-up from Wired, the startup’s AI-powered hearing aid is receiving rave reviews from beta testers, one of whom described the experience of using the device as so powerful, she spontaneously burst into tears. Wired suggests that getting into the Fortell beta has become something of a status symbol among elite Boomers; early adopters include multiple billionaires, a “chart-topping musician,” and comedy icon Steve Martin. Considering nearly 80% of adults over 55 can benefit from some form of hearing aid, a huge leap forward in this department could be a lucrative innovation indeed.

TWiST 500

It’s a big fundraise day for one TWiST 500 standout: legal startup Harvey AI.

They’re now valued at $8 billion following a fresh infusion of $160 million in capital, more than double their valuation from February of this year. (The new raise brings their 2025 total to a considerable $760 million.) The company plans to allow some employees to sell of shares in secondary markets, so they too can enjoy this bounty.

Harvey, of course, provides a suite of AI tools designed to make lawyers for productive and efficient, answering questions about case law, writing up first drafts of documents, automating busy work-level tasks, and so forth. (It’s named for Harvey Specter, the fictional attorney played by Gabriel Macht on USA Network’s “Suits.”) Users already include about half of the nation’s largest law firms, not to mention the legal departments of major conglomerates like Comcast, making Harvey by far the dominant player in the nascent Legal AI marketplace.

We had Harvey co-founder and president Gabe Pereyra on TWiST just last month! He explained what specifically makes LLMs so well-suited for legal tasks, how Harvey hopes to use everything they’ve learned to branch out into other domains beyond the law, and how the classic legal concept of “billable hours” doesn’t really apply to AI because it’s too darn fast. Check out the full segment for a deep dive into this TWiST 500 favorite.

One more intriguing item: The Wall Street Journal reports that OpenAI was, as recently as this summer, exploring the possibility of developing its own space program. No, really! Apparently, the ChatGPT maker was circling a major investment in TWiST 500 rocket makers Stoke Space, with an eye toward obtaining a controlling stake. These talks are apparently no longer active, perhaps due to CEO Sam Altman’s “Code Red,” focusing all hands on improving the ChatGPT experience.

A message from Lemon.io

Hire pre-vetted remote developers and get 15% off your first 4 weeks of developer time at https://Lemon.io/twist

This Week in Startups

E2218: Jason spends the full hour with Athena founder and chairman Jonathan Swanson, discussing their shared history from the Thumbtack days, and the decision to leave marketplaces behind and go all-in on virtual assistants. Together, they discuss how delegation can not just massively increase your productivity, but allow you to tackle all sorts of projects and goals that would have been unthinkable otherwise. Plus Jonathan gives us his tips on avoiding the “Cardinal Sins of Delegating.”

E2217: On a special Tuesday edition of TWiST, we welcome two awesome guests from noteworthy TWiST 500 startups. First, Monumental CEO Salar al Khafaji walks us through how his company makes construction robots “play nice” with one another on work sites. THEN we’ve got Seasats CEO Mike Flanigan showcasing the next generation of autonomous marine craft, and filling us in on why it’s so hard to defend against tiny, agile drones. Finally, Jason takes some of YOUR pressing Founder Q’s.

E2216: Now that Bitcoin is dipping ever-downward, what does that mean for Michael Saylor’s Strategy strategy? Jason and Alex run the numbers on TWiST, and remain pretty skeptical about the company’s central, increasingly convoluted, digital debt-based financial scheme. PLUS is Tether “too good to be true,” as an investment? Why the US may have waited too long to pass stablecoin regulations. And Jason’s response to the NYT “exposé” about his Bestie David Sacks.

TWiST Partner Offers

Gusto: Check out the online payroll and benefits experts with software built specifically for small business and startups. Try Gusto today and get three months FREE at Gusto.com/twist.
Northwest Registered Agent: Starting your business should be simple. With Northwest Registered Agent, you can form your entire business identity in just 10 clicks and 10 minutes. From LLCs to trademarks, domains to custom websites, they’ve got you covered. Get more privacy, more options, and more done—visit https://www.northwestregisteredagent.com/twist today!
Crusoe Cloud: Crusoe is the AI factory company. Reliable infrastructure and expert support. Visit crusoe.ai/build to reserve your capacity for the latest GPUs today.

LAUNCH 35 Public Demo Day

Our 35th LAUNCH Accelerator cohort is graduating in just a few weeks and we’d love for YOU to attend their Public Demo Day!

WHEN: December 8 at 12:30 pm PT
WHERE: Zoom
REGISTER: https://www.launch.co/live

Investor Networking Lunch in SF

Jason and LAUNCH are hosting an investor networking lunch, followed by pitches from our latest Accelerator batch. Join us for Dim Sum in San Francisco on Friday, December 5th. (Or forward this to your investor friends.)

Date/Time: Friday, December 5th, 2025 at 12-3PM PT
Format: Dim sum lunch, followed by founder pitches & investor networking
Location: TBA (Chinatown area)

Spots are limited, please RSVP here. The LAUNCH team will email you confirmation once your registration is accepted. You must be an accredited investor or work for a VC Fund to join.

SF Live-Work Space Now Available

Need a flexible living and working environment in San Francisco? This thoughtfully designed loft-style residence at 787 Bryant St., the heart of the vibrant SOMA district and the city’s creative hub, is now available for rent or purchase. Check the listing for more details.

The TWiST500 newsletter is the new, updated, and improved TWiST Ticker.

Update your email preferences or unsubscribe here

548 Market Street PMB 72296
San Francisco, California 94104, United States of America