Philly daily roundup: LifeBrand updates; AI in American politics; A new Penn venture fund

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Newly formed AI startup acquires LifeBrand

After laying off its entire staff in May, LifeBrand liquidated its assets. Now, just a few weeks ago, new startup Sentiment AI acquired the online reputation service. 

Despite this move, LifeBrand still owes backpay to some employees after missing pay cycles in the spring. CEO TJ Colaiezzi is also facing a lawsuit from investors accusing him of fraud. 

➡️ Read more about the acquisition and where the company stands today

Does AI have any place in American politics?

The benefit of using AI in the election process is that it’s an efficient tool for analyzing large amounts of data. AI can identify anomalies in voter lists, scan paper ballots and interpret and enhance poll results.

However, AI can also spread misinformation and disinformation to voters. Examples include AI-generated robocalls and fake images of candidates. But two out of seven people surveyed still said they would support an AI-generated candidate. 

➡️ Find out what Philadelphia thinks about AI’s role in politics 

News Incubator: What else to know today

• Two graduate students from the Wharton School launched a venture fund called Center City Ventures to support startups founded by recent alumni and current students. [Philly Biz Journal]

• The Keystone LifeSci Collaborative chose Maurie Smith as its first managing director. The collaborative launched this spring from the West Philadelphia Skills Initiative. [Keystone LifeSci Collaborative/Technical.ly]

• Spark Therapeutics announced Sylke Poehling will be the company’s new CEO, replacing Ron Philip who has been with the gene therapy company since 2022. [LinkedIn]

• The University of Pennsylvania launched the Penn Center on Media, Technology and Democracy. The center is being funded by a $5 million donation from the Knight Foundation and a matching donation from six of Penn’s schools. [PennToday]

•  The Grace Hopper Celebration is coming to Philadelphia next month and Viola Davis and America Ferrara will be among the conference’s speakers. [PR Newswire]

🗓️ On the Calendar

• Philly TOOOLBox’s monthly meetup is on Sept. 6 [Details here]

• Code and Coffee Philly is having its usual meetup on Sept. 7 at the Capital One Cafe. [More info]