A look at Founders Fund-backed State Affairs, which raised $70M and uses AI trained on reporting by its 76 staffers to power a Bloomberg Terminal-like product
THE SO WHAT
Training an in-house model on 76 reporters’ work to build a Bloomberg-style terminal is a bet that proprietary, structured reporting can be monetized as a data product, not just ad inventory. If you own a niche data exhaust — legal, industrial, local, scientific — this is your prompt to price it as an AI-native terminal, not another newsletter.
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