Citadel rebuts Citrini's viral article, arguing that AI deployment is constrained by the marginal cost of compute vs. human labor, and needs far more compute
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Tech analyst Dan Wang reflects on the Chinese Communist Party vs. Silicon Valley, AI and manufacturing, how China and the US are building the future, and more
danwang.co/2025-letter/ Conor Sen / @conorsen : This is how I learned I'm a better fit for finance culture and tech culture. You only succeed in tech culture by fully embracing th...
How AI automation can fulfill Thomas Piketty's predictions on rising economic inequality, and why highly progressive taxes on capital can help slow the spiral
Piketty was wrong about the past. He's probably right about the future. — 1. Introduction X: @briancalbrecht , @saikatc , @harryh , @jankulveit , @daniel_271828 , @krishnanrohit...
Tech analyst Dan Wang reflects on the Chinese Communist Party vs. Silicon Valley, AI and manufacturing, and how China and the US are building the future
One way that Silicon Valley and the Communist Party resemble each other is that both are serious, self-serious, and indeed, completely humorless.
OpenAI told investors that it projects its cash burn this year through 2029 will rise to a total of $115B, about $80B higher than it previously expected
OpenAI recently had both good news and bad news for shareholders. Revenue growth from ChatGPT is accelerating at a more rapid rate than the company projected half a year ago.
Analysis: Nvidia has the biggest weight in the S&P 500 of any individual stock since 1981 and the highest P/E as the index's top stock since Microsoft in 1999
Record Concentration Puts AI Trade in Focus; BTC Risk Sentiment Watch Torsten Sløk / Apollo Academy : Extreme Concentration in the S&P 500 Continues X: Myles Udland / @mylesudland ...
Analysis: Nvidia has the biggest weight in the S&P 500 of any individual stock since 1981 and the highest P/E as the index's top stock since Microsoft in 1999
Nvidia is a milestone magnet. — Less than one month after becoming the first publicly traded company to reach $4 trillion in market cap …
Leaked recording: Sam Altman told his staff that OpenAI aims to ship 100M AI “companion” devices meant for everyday life, and to release the first by late 2026
Idea is a 'chance to do the biggest thing we've ever done as a company here,' Altman told OpenAI employees Wednesday
OpenAI acquires io, Jony Ive's secretive AI startup, for nearly $6.5B in stock; Ive and LoveFrom will remain independent but take over design for all of OpenAI
OpenAI will acquire the AI device startup co-founded by Apple Inc. veteran Jony Ive in a nearly $6.5 billion all-stock deal …
Sources: humanoid robot startup Figure is in talks to raise $1.5B led by Align Ventures and Parkway VC at a $39.5B valuation, up from $2.6B in February 2024
Bloomberg :
Sam Altman says “OpenAI is not for sale” and “OpenAI's mission is not for sale”, especially to “a competitor who is not able to beat us in the market”
- “OpenAI is not for sale. … - Altman said the board has not determined a valuation for OpenAI's operations yet …
Investors led by Elon Musk make an unsolicited $97.4B bid to buy the nonprofit that controls OpenAI, complicating Sam Altman's plans to convert to a for-profit
Unsolicited offer complicates Sam Altman's plans to convert OpenAI to a for-profit company — A consortium of investors led …
Pavel Durov says Telegram has 900M users, aims “to become profitable next year, if not this year”, was “offered $30B+ valuations” by VCs, and is weighing an IPO
In rare interview, Pavel Durov says secretive messaging app is making ‘hundreds of millions of dollars’ from ads business
Internal doc: Spotify weighed removing white noise podcasts and redirecting users to “talk” content, which would boost the company's annual gross profit by €35M
An internal document shows that white noise podcasts account for 3 million daily consumption hours on the platform
Mark Zuckerberg disputes the narrative that Meta is moving its focus away from a metaverse vision and sees AI tech working in tandem with the metaverse
Things are looking up for Meta. The company beat revenue expectations, reporting an increase in year-over-year revenue for the first time in three quarters.
Sources: Stripe is raising $6B at a $50B valuation from Thrive Capital, General Catalyst, a16z, and Founders Fund to help early employees exercise their RSUs
Eric Newcomer / Newcomer : Tweets: @buccocapital , @ericnewcomer , @kateclarktweets , @carnage4life , @mylesudland , @415_aaron , @ppgosavi , and @carnage4life Tweets: BuccoCapita...
Stripe's investor pitch deck says the startup needs $4B by the end of 2024 to cover a tax withholding bill when modifying employee stock grants before its IPO
Meta reports Q4 revenue down 4% YoY to $32.2B, net income down 55% YoY to $4.7B, and family daily active people up 5% YoY to 2.96B; stock jumps 24%+
Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter and full year ended December 31, 2022.
Sources: OpenAI hired ~1,000 remote contractors in the past six months, 60% for data labeling and 40% programmers to teach its models software engineering tasks
many humans — are building AI tools. They are not magical or simply the product of Silicon Valley elites https://www.semafor.com/... https://twitter.com/... @martinsfp : Generative...
Memo: BuzzFeed plans to rely on OpenAI to enhance its quizzes and personalize its content while humans offer ideas, “cultural currency”, and “inspired prompts”
CEO Jonah Peretti intends for artificial intelligence to play a larger role in the company this year