We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D'Angelo. We are collaborating to figure out the details. Thank you so much for your patience through this.
INVESTMENT
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OpenAI Crisis: Microsoft Backup Plan Amid Uncertain Situation
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I'll add I'm cheering for the OpenAI team and hope for the best. But this doesn't look good. Feels like a hostage situation where every hour that passes without a resolution means the chances of death go up. Thankfully they have Microsoft as the backup plan.
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Microsoft Acquisition Legal Implications Non-Compete Concerns
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If the MSFT thing ends up going thru, then record of stuff like this might be legally challenging. Although CA doesn't have non-competes, this is something well beyond that.
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Berkshire Hathaway Insurance Relief in Age of AI
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It’s presumably a very tiny sigh of relief. (Folks not understanding this joke: I have an insurance policy from a Berkshire Hathaway subsidiary for all the usual business reasons.)
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Startup Fraud: When Accounting and Criminal Conspiracy Intersect
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“Do you express an opinion on this?” On a chaotic startup which was also a criminal conspiracy getting the accounting exactly right? I mean, your prior for that should be near zero, right? Best available high percentage view is “Oh, many shenanigans of all sorts, but grew.”
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CZ’s Statement: Legal and Strategic Implications Analyzed
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I think lawyers would, if asked about this statement, say “You need to understand that this could be strategic.” (Taken from CZ’s tweet today.)
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Nvidia Beats Revenue Forecast, Shares Rise Modestly
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Nvidia shares rise slightly on 11% beat on forecast Revenue came in two billion dollars higher than expected, a twelve-percent beat, and the forecast was eleven percent higher as well. The shares showed some modest after-hours gain. It’s a muted reaction, not almost a
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Nvidia earnings beat expected amid strong GPU demand
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Nvidia on tap: Street looks for more modest upside
Shares of Nvidia are pricing in a beat of five to eleven percent on revenue tonight, according to Jefferies & Co.’s Mark Lipacis. It seems unlikely the company will disappoint given a still-raging market for GPUs. The stock -
Niche Interest in Financial AI Screening Solutions
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"Who is actually interested in that, Patrick?" I can't be the only person who reads sales copy written in Japanese for financial industry screening solutions as a hobby, right.
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Microsoft’s AI Partnership Risk Profile Increases Amid OpenAI Leadership Changes
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You-know-what is hitting the fan for Microsoft on this OpenAI thing, says Street
As Sam Altman reportedly chats with OpenAI’s board about coming back, some analysts are getting worried about Microsoft. “the risk profile of Microsoft’s AI story just went up materially,” says