The Rundown: Edition 47 – Fresha’s Unicorn round, AI jobs apocalypse, and Big Tech

It’s hot. Arguably too hot. If you need any reprieve, the Tories have pledged to reverse the “air con ban” in new homes introduced by then Conservative Housing Secretary Robert Jenrick in 2021.

Amazon abandons AI leaderboards

Amazon has scrapped an internal leaderboard that tracked employee usage of AI tools after it emerged that workers tried to boost their scores by assigning AI agents pointless tasks. The move follows a drive to get 80% of developers to use AI each week. FT

Google worker charged following insider trading

A software engineer at the Silicon Valley tech giant has been charged with using insider information to win $1.2 million by placing bets on Polymarket. The software engineer placed a bet on the American singer D4vd being the most-searched person ​of 2025, prior to it being publicly announced. Times

Reeves to tax cash in stocks and shares ISAs

The Treasury is set to announce a 22% tax on cash held in stocks and shares ISAs. The move follows a previous crackdown on cash ISAs that is estimated to be worth £100 million for the Treasury. I Paper

KPMG looks for Silicon Valley startups to fight AI disruption

KPMG’s US bosses are scouting Silicon Valley for AI start-ups that the Big Four firm can sign partnerships or take equity stakes in to secure access to their technology. The move comes amid threats to the accounting industry from sweeping AI-driven changes. FT

Fresha hits unicorn status with KKR backing

London-based Fresha, a marketplace for beauty and wellness bookings, has received $80 million in funding from the private equity giant KKR. It brings Fresha’s total funding to $285 million and takes its valuation to more than $1 billion. TechCrunch

Orbital Industries raises £37m Series B

Orbital Industries, which develops industrial hardware and infrastructure for AI data centres, has secured £37 million in Series B funding led by Plural, with further investment from NVentures, Radical Ventures, Compound and Fly Ventures. Soapbox.VC

Google Ventures leads $15m MokN funding

Cyber startup MokN has raised $15 million in a round led by Google Ventures, with extra funding from DataDog, Moonfire and OVNI Capital. The firm has developed technology that allows stolen credentials to be recovered before they can be used. UKTN

Caudal Energy secures £4.3m for renewable power

Caudal Energy, which is developing a new class of predictable renewable power systems, has raised £4.3 million in a round led by Oxford Science Enterprises and Empirical Ventures, with participation from Zero Carbon Capital and Creator Fund. Tech.EU

Bye-bye, Big Tech?

A group of businesses, trade bodies, consumer groups and think tanks has warned ministers and the Competition and Markets Authority (CMA) that the UK risks undermining its international credibility and stifling innovation if “dominant platforms” are allowed to “further entrench their positions”. Times

Shining a light on Photonics

The government should prioritise a National Photonics Roadmap to identify where the UK can lead and what infrastructure is needed to prevent it missing out on the lucrative industry, according to Nick New, CEO of Optalysys. UKTN

The Middle Eastern AI race

The region is fast becoming a global AI infrastructure powerhouse, and Robert Vassoyan, Group CEO of SCC, believes it’s the mix of sovereign capital, digital-first strategy, and freedom from legacy infrastructure that makes the Middle East one of the world’s most exciting markets for next-generation data and AI growth. UKTN

London’s back on top

The city has surpassed Paris to regain its status as Europe’s top tech ecosystem. London’s return is thanks to increased venture capital funding, ongoing unicorn growth, and broad strength across AI, deep tech, and other sectors. Reuters

Who needs Supernanny when you have AI?

AI parenting tools are booming, helping families manage school emails, schedules and daily admin with less mental overload. While AI can be a family operating system, many parents remain cautious about mistakes, overreliance on the tech, and privacy concerns. Sifted

We won’t talk about the weather again (it really is rather warm, though, isn’t it?). Instead, we’ll talk about something you surely haven’t heard a lot about this week: AI. London Mayor Sadiq Khan recently blocked Palantir’s £50 million contract with the Metropolitan Police – alluding to the “values and ethics” of the US-headquartered software company. While some agree with Khan’s decision, many have disagreed, including Sir Michael Ellis KC, a former Tory Attorney General, who said the block is “an extraordinary intervention, which may be susceptible to judicial review.” He’s advised Palantir to challenge Khan in court. Palantir itself has accused the Mayor of “putting politics above public safety”. Do you know who else isn’t siding with the machine? Any guesses? It’s Pope Leo (10 points if you got that right). He presented the first major teaching of his papacy, warning that AI needs to be “disarmed”. Pope Leo believes that we’re at a moral crossroads and run the risk of “normalising the exploitation of people again” and that AI could result in “new digital slaveries”. In case it doesn’t destroy humanity as a whole, AI might just destroy your career. Take this quiz to find out if you’re one of the unlucky ones.

It’s tough out there for young people. This so-called “bedroom generation” is struggling to adapt to the outdated world of work, according to the Government’s Jobs Adviser. Around 1 million 16- to 24-year-olds (that’s one in eight) are not in education, employment or training. What may very soon be a “lost generation” is costing the UK an estimated £125 billion a year. Will AI help or hinder this? If OpenAI’s Sam Altman and Anthropic’s Dario Amodei are to be believed, the AI “jobs apocalypse” they once predicted will no longer come to fruition.

With event season approaching its peak, we have lots of great events to fill your diaries.

SXSW London
Each day focuses on a different theme, sparking conversations centred on a range of groundbreaking topics, from medtech to venture and startup innovation
Discount: use code “FieldHouseSXSW26“ for 30% off
When: 1-6 June
Where: London

New York Tech Week
Week-long celebration of leading tech voices across New York, featuring participation from AWS, Google, IBM, Lovable and more
When: 1-7 June
Where: New York

SuperReturn Venture
A leading gathering for LPs and GPs looking for new opportunities in a changing venture landscape
Discount: use code “FKR3646FIELD” for 10% off
When: 8-10 June
Where: Hotel Palace, Berlin

SuperReturn International 
Where everyone who’s anyone in private markets meets
When: 8-12 June
Where: InterContinental Hotel, Berlin

London Tech Week
The premier destination for innovation, collaboration and growth in the tech industry
When: 8-12 June
Where: London

SuperReturn Tech Sovereignty
Network with investors and policy makers to shape technological sovereignty
Discount: use code “FKR3739FIELD“ for 10% off
When: 11 June
Where: Hotel Palace, Berlin

Viva Tech
Europe’s largest startup and tech event, bringing together global innovators, investors, and leaders in Paris to shape the future of technology.
When: 17-20 June
Where: Paris

World Venture Forum 2026
The World Venture Forum brings together leading founders, investors, and innovators from across Europe and beyond to connect, collaborate, and shape the future of global business
Investor discount: use code “WVF26-FHA“ for 15% off
When: 6-11 July
Where: Kitzbühel, Austria

See you next week…

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