Latest news with #RangeVentures
Axios
29-04-2025
- Business
- Axios
Colorado AI bill set for overhaul as the clock ticks
Colorado's first-in-the-nation law governing the use of artificial intelligence is facing an overhaul after vocal opposition from technology companies. Why it matters: Other states are closely watching the lawmaking as a model for regulating AI and ensuring privacy in the bot era. Catch up quick: Colorado's current law — which takes effect next February — requires consumer disclosure when AI is being used and prevents discrimination in decision-making. It applies to predictive artificial intelligence systems that make decisions, not generative ones such as ChatGPT. Yes, but: The governor and tech industry argued the existing law went too far, saying it would stifle innovation, job growth and startup companies with all its demands on AI companies. The latest: A bill introduced Monday — just days before lawmakers adjourn the session — rewrites some rules to assuage the industry's fears. The legislation more clearly outlines the rules for consumer disclosure, adjusts the definition of discrimination to fit existing law and curtails some of the responsibilities of the AI company and those who deploy the software. The new rules would exempt smaller companies under 500 employees, rather than the current benchmark of 50. The other side: The changes didn't satisfy all the bill's critics and made the rules tougher in some areas, Chris Erickson, co-founder and managing partner at Range Ventures, a venture capital firm, tells us. The change "we were told is going to happen hasn't happened yet," he said. Bryan Leach, CEO and founder of Ibotta, a digital coupon company, echoed those concerns. "The bill substantially heightens the costs and administrative burdens on small businesses," he said in a statement to Axios Denver. "If passed, this bill will only exacerbate the damage to our reputation as a business-friendly state and our ability to continue to create jobs."
Business Journals
28-04-2025
- Business
- Business Journals
Lock & Load Miami in Wynwood files for bankruptcy
The company opened over a decade ago on a nearly 30,000-square-foot lot in the city's arts district. Here are the events that led to its Chapter 7 filing. Story Highlights Lock & Load Miami filed for Chapter 7 bankruptcy on April 24. The gun range and museum owes up to $1 million. Owners Erik Agazim and Andrew Serafine are in legal dispute. A Miami gun range and museum that launched over a decade ago has declared bankruptcy. Lock & Load Miami LLC filed for Chapter 7 liquidation April 24, listing up to $1 million in debts and less than $50,000 in assets. The petition was submitted in U.S. Bankruptcy Court in Miami by Erik J. Agazim, a member of affiliate Range Ventures LLC. The business, which opened in 2013 at 2545 N. Miami Ave., in the Wynwood Arts District, is currently closed for maintenance, according to its website. Lock & Load Miami catered primarily to tourists, offering a chance to rent and shoot a variety of automatic and semi-automatic firearms, with additional weapons on display in its museum. Records from the Miami-Dade County property appraiser show the range occupies nearly 30,000 square feet in a lot owned by Patbe Investments LLC. The property's market value is over $11.5 million. Patbe Investments is not affiliated with Lock & Load Miami. The company's bankruptcy petition does not disclose the exact value of its assets and liabilities, but lists creditors including its landlord, Patbe Investments, as well as American Express and the U.S. Small Business Administration. Lock & Load Miami's bankruptcy follows a lawsuit, filed in October in Miami-Dade Circuit Court by Andrew A. Serafine on behalf of Range Ventures, against Agazim and the company. Laudy Luna, the attorney representing Lock & Load Miami, did not immediately respond to a request to provide more details on the company's bankruptcy. According to the complaint, Serafine and Agazim are brothers who each own 50% of Range Ventures. Serafine alleged that the two are deadlocked over the management of the business, accusing Agazim of unilaterally shutting down the gun range without notice, taking company assets such as cash and ammunition, and refusing to cooperate in resolving the dispute. Serafine asked the court to appoint a receiver to manage the company's assets, order the reopening and continued operation of the gun range, and require Agazim to provide a full accounting of the company's finances. Although the case remains pending, Lock & Load Miami notified the state court that it had filed for bankruptcy, moving the matter into federal court. Brian M. Torres, the attorney for Serafine, and Megan Conkey Gonzalez and John William Annesser, the lawyers representing Agazim in his lawsuit, did not immediately respond to requests for comment. A full financial report outlining the company's assets and liabilities is due in bankruptcy court May 8, and a creditors' meeting is scheduled for May 21. Sign up here for the Business Journal's free morning and afternoon daily newsletters to receive the latest business news impacting South Florida. Download the free Business Journal app for breaking news alerts on your phone. South Florida's Sports and Entertainment Venues Capacity Rank Prior Rank Venue/URL 1 1 Hard Rock Stadium 2 2 Miami Beach Convention Center 3 2 Homestead-Miami Speedway View this list
