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LPs pile into concentrated bets on OpenAI and Anthropic despite diversification norms

Limited partners interviewed by the publication say they have abandoned venture capital's traditional diversification playbook, with many backing OpenAI and Anthropic simultaneously across multiple funds despite industry norms against overlapping bets. Beezer Clarkson of LGT Capital Partners and Amit Bhatti of TrueBridge both describe the current environment as unusually fast-moving, with LPs largely untroubled by the concentration risk given expected returns. The two did flag concern about how quickly VC firms are returning to raise new funds.

Cisco Gives Engineers Unlimited AI Tokens to Modernize Legacy Code

Cisco is allowing engineers unrestricted access to AI tools to rewrite and modernize older codebases, according to a Fortune report. Executive Jeetu Patel described structuring his team into three groups: experienced Cisco operators, outside systems thinkers, and AI-native entrepreneurial engineers, saying their combination drives innovation.

Scribd notifies users of data breach exposing emails and partial card details

Scribd, Inc., parent of Scribd, Slideshare, Everand and Fable, sent breach notifications on October 26, 2026 saying an unauthorized third party may have accessed user email addresses, the last four digits of credit cards, card issuer, expiry date, country and payment history. The company said it found no evidence the data has been misused but is notifying affected users as a precaution, via its notification partner Epiq.

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