How Story Protocol Plans to Combat AI Theft of Your Intellectual Property
IP-Focused Startup Secures $80M to Protect Intellectual Property from AI Exploitation
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Show Notes
San Francisco-based startup Story Protocol raised $80 million in Series B funding to combat intellectual property theft exacerbated by AI advancements. The round, led by Andreessen Horowitz and including Polychain, increased Story's total funding to $140 million and valued the company at $2.25 billion. As AI models consume copyrighted material for training without permission, Story provides a blockchain network where IP owners can store their assets and define usage terms through smart contracts, ensuring compensation. Co-founder S.Y. Lee emphasized the issue of Big Tech exploiting IP without consent. This funding announcement coincided with OpenAI's partnership with Condé Nast, highlighting ongoing conflicts between AI companies and media firms over content usage. Last year, The New York Times sued OpenAI and Microsoft over copyright concerns, while other entities sought agreements to safeguard their intellectual property.
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