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☆ OpenAI's rivals are on the prowl after an exodus of high-level executives
▼ + stars: | 2024-10-02 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +7 min

Investors are flocking to OpenAI, but it's losing high-level executives at an alarming rate. Suddenly, it's open season for OpenAI employees. Rivals like Anthropic and Perplexity are signaling to workers that they put mission over profits. Suddenly, it's starting to feel like open season for OpenAI employees. A recruiter said his search firm has fielded more interest from current OpenAI employees since the board's ouster of Sam Altman a year ago.

Persons: —, Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Greg Brockman, Alex Klein, he's, Dan Miller, Tim Tully, Sam Altman, Jason Redmond, weren't, Klein, OpenAI, Jack Guez, Anthropic, Jan Leike, Schulman, Durk Kingma, Kingma, Matt Murphy, Arvind Jain, Jain, Matt Hoffman, Johnny Ho, Ho Organizations: Rivals, Service, OpenAI, LinkedIn, Menlo Ventures, Ark Venture Fund, Business, Getty, Google, Anthropic, Employees, Engineers Locations: OpenAI, AFP, Bay

☆ Bonobos cofounder Andy Dunn has a new IRL social startup. Read the 31-page pitch deck it used to raise $11.5 million.
▼ + stars: | 2024-10-02 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +4 min

Pie, an IRL social startup, raised $11.5 million in Series A funding led by Forerunner Ventures. Founded by Bonobos' Andy Dunn, Pie focuses on in-person connections and events. One of many emerging "IRL social" apps, Pie lets users plan and join in on IRL hangouts. Advertisement"This is venture-backed startups," Dunn said, adding that by the time of Pie's Series B, it will have a monetization engine locked down. Read the 31-page pitch deck that Andy Dunn used to raise Pie's Series A:Note: Pie has redacted details and amended some pages so that the document could be shared externally.

Persons: Bonobos, Andy Dunn, Pie, —, Dunn, Vivek Murthy, Kirsten Green, Ev Williams, Marisa Fanco's, wasn't, " Dunn, Mary Doctor Organizations: Forerunner Ventures, Service, IRL, US, Origin Ventures, Pie's Locations: Chicago, New York City, Los Angeles, San Francisco

☆ Cathie Wood's Ark is doubling down on OpenAI with at least $250 million in its new funding round
▼ + stars: | 2024-10-02 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +2 min

Cathie Wood's Ark Venture Fund invested at least $250 million in this new round. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of its total assets. AdvertisementCathie Wood's Ark Venture Fund has agreed to invest at least $250 million in OpenAI's latest funding round, three people familiar with the round said. OpenAI is now Ark Venture Fund's third-largest holding, accounting for about 5% of the fund's total assets, according to its website. On Wednesday, a retail investor shared a screenshot of what appears to be an email she received from Ark Venture Fund informing her of its new OpenAI investment.

Persons: OpenAI, —, Ark, Musk Organizations: Ark Venture Fund, Ark Venture, Service, Microsoft, Tiger Global, Nvidia, Khosla Ventures, United, United Arab Emirates Locations: Abu Dhabi, United Arab, xAI

☆ OpenAI will let employees sell some stock after its monster fundraising round
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

OpenAI workers may soon be allowed to sell their shares in the AI firm, The Information reported. The report cited a memo sent to employees that said details on stock sales were being worked out. OpenAI raised $6.6 billion in its latest fundraising round. AdvertisementWorkers at OpenAI may soon get the opportunity to sell some of their shares in the company, The Information reported, citing a company memo. The move to allow employees to cash in follows the ChatGPT creator's $6.6 billion fundraising round.

Persons: OpenAI, —, Sarah Friar, OpenAI's, Friar, Sam Altman, Mira Murati Organizations: Service, Microsoft, Nvidia, Wall Street Locations: OpenAI

☆ Boomers Are Selling Their Small Businesses; Millennials Are Buying
▼ + stars: | 2024-10-01 | by ( Ann C. Logue | ) www.businessinsider.com time to read: +12 min

Sure, many small businesses aren't glamorous — think dental practices or accounting firms — and they involve long hours and unpredictable market forces. The US Small Business Administration said in July that there were nearly 35 million small businesses in the US. Fewer than two-thirds of small businesses in the US in 2022 were profitable, and over a million businesses of all sizes close each year. Traditionally, small businesses were family businesses, and the eldest male child was expected to take it over when the patriarch was ready to step down. Buying up small businesses allows people without wealthy boomer parents to cash in on the trillions of dollars of wealth the generation is sitting on.

Persons: George Coulam, Coulam, Forrester, Nancy Forster, Holt, Ernst & Young, Steve Holt, Shaw, Tenney, Paul, Helen Reagan, Forster, who's, Jennifer, Neil Gutekunst, Edie Ellis, Ellis, BizBuySell, you've, Dave Specht, Specht, they've, " Forster, She's, PwC, Norm Dinkel, Brian Brogan, — he's, hasn't, it's, Jennifer Gutekunst, boomer Organizations: Texas Renaissance, NewEdge Wealth, Ernst &, Shaw, University of Rhode, US Small Business Administration, Small Business Administration, Drucker School, Family Business, Claremont Graduate University, Wall, American Investment Council, Saint Joseph's University Locations: Texas, America, Sacramento , California, Maine, Orono, Chicago, Washington, Pennsylvania

☆ Tonight's vice presidential debate matters a lot more this time around
▼ + stars: | 2024-10-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what you need to know about tonight's vice presidential debate , and why it's worth paying attention to. The big storyUp for debateDrew Hallowell/Getty Images; Andrew Harnik/Getty Images; Brandon Bell/Getty Images; Rebecca Zisser/BIOhio Sen. JD Vance and Minnesota Gov. ET for an uncharacteristically important vice presidential debate , write Business Insider's Brent D. Griffiths and John L. Dorman. Thanks to a hot streak at Miu Miu, Prada has done what few luxury retailers have been able to do this year: grow. In short, it doesn't get trendier than Miu Miu — and trendy is good for business.

Persons: —, Drew Hallowell, Andrew Harnik, Brandon Bell, Rebecca Zisser, JD Vance, Tim Walz, Insider's Brent D, Griffiths, John L, Dorman, Donald Trump, Kamala Harris aren't, Vance, Walz, hasn't, Brent, Trump's, There's, Harris, Joe Biden's, Matt Stroshane, Tyler Le, Blackstone, Getty, Justin Sullivan, Nvidia's, Jensen, Mira Murati, Natalie Ammari, That's, Miu Miu, Prada, Jimmy Carter, Mark Rutte, Jens Stoltenberg, Claudia Sheinbaum, Elliott Hill, Mike Johnson, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Microsoft, Getty, Ohio Sen, Minnesota Gov, CBS, Netflix, Republican, UBS, Venture, Murati, Consulting, Nike, NYSE Locations: Minnesota, Silicon, New York, London

FoundersCard is an exclusive membership for startup founders, CEOs, entrepreneurs, and innovators. Beyond personal benefits, it can provide direct, tangible benefits to the business or project that you're trying to grow. FoundersCard Membership BenefitsFoundersCard offers a wide range of benefits that can be loosely broken into three categories: savings and discounts, VIP treatment and perks, and exclusive events. British Airways offers FoundersCard members up to 10% off most round-trip fares between the US or Canada and the UK. FoundersCard is a private membership club offering access to exclusive benefits and networking opportunities for entrepreneurs and business professionals.

Persons: — there's, —, FoundersCard, Eric Kuhn, it's, MOO, General Assembly —, isn't, David E, David Organizations: Cathay Pacific, British Airways, . Alaska Airlines, Continental, JetBlue, Mint, American Airlines, Qantas, Australian, Emirates, Singapore Airlines, Apple, General Assembly, Business, Chevron, Yorker, Muhlenberg College, University of Edinburgh, Twitter Locations: Austin, Canada, Continental US, Hawaii, Australia, New Zealand, East, Asia, Africa, Chevron, Slotnick, Scotland

How Credit Card Cell Phone Protection WorksIf cell phone insurance on a credit card sounds too good to be true, this guide is for you. The Best Credit Cards with Cell Phone ProtectionThere are dozens of credit cards that now offer cell phone protection when you use them to pay your phone bill. Here are some of the best options:Best overall credit card with cell phone protection: Ink Business Preferred® Credit CardBest no-annual-fee Chase credit card with cell phone protection: Chase Freedom Flex®Most affordable premium credit card with cell phone protection: Capital One Venture X Rewards Credit CardBest American Express credit card with cell phone protection: The Platinum Card® from American ExpressBest airline credit card with cell phone protection: Delta SkyMiles® Platinum American Express CardBest cash back credit card with cell phone protection: Wells Fargo Active Cash® CardBest credit card with cell phone protection for paying rent: Bilt Mastercard®Chase Credit Cards with Cell Phone ProtectionThe Ink Business Preferred® Credit Card comes with one of the most generous cell phone protection coverage limits of up to $1,000 per claim with a $100 deductible, up to three times per year. You'll find cell phone insurance on the following Amex cards:Wells Fargo Credit Cards with Cell Phone ProtectionWells Fargo is unique in that it offers cell phone insurance as a standard benefit on all of its personal credit cards, even the ones with no annual fees. Read our guide to the best Wells Fargo credit cardsCell Phone Protection Credit Card ComparisonInk Business Preferred® Credit Card Apply now lock icon An icon in the shape of lock.

Persons: Wells, I'd, they'll, takeout, Chase, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you've, It's, you’re, you'll, Jasmin Baron, Read Organizations: Business, Cell, Express, American Express, Wells, Mastercard, Capital, Venture, Protection, Chase Travel, FDIC, Chase, One, Hilton, Marriott, Saks, American, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, TSA, Global, Saks Fifth Locations: Wells Fargo, Hulu, Wells, Canada

☆ I went to Alexis Ohanian's women's-only track event. It was exactly what I expected from a tech millionaire.
▼ + stars: | 2024-10-01 | by ( Manseen Logan | ) www.businessinsider.com time to read: +2 min

Ohanian's venture fund Seven Seven Six hosted the inaugural race, awarding over $500,000. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementFor two weeks straight, my Instagram feed was flooded with ads featuring Reddit cofounder Alexis Ohanian promoting his latest investment, a futuristic women's-only track competition. What type of track event would a multimillionaire tech founder help to create? Ohanian calls it Athlos, and his venture fund Seven Seven Six just hosted the inaugural all-woman race on Thursday.

Persons: Athlos, Alexis Ohanian's, —, Alexis Ohanian, Tiffany, That's, Serena Williams, He's, Bob Iger, Willow, Ohanian, he's, It's Organizations: Tiffany, Service, Angel City FC, Paris Olympics Locations: New York

☆ Cybersecurity firm Proofpoint considers pre-IPO funding as it plots a return to public markets
▼ + stars: | 2024-10-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sumit Dhawan, CEO of Proofpoint, took the reins as head of the cybersecurity company in 2022, a year after it was acquired by Thoma Bravo for $12.3 billion. He's been pushing the firm to consider strategic opportunities such as mergers and acquisitions of smaller cybersecurity players to boost the company's market expansion and stimulate industry consolidation. LONDON — Privately-held cybersecurity firm Proofpoint is exploring tapping external investors for pre-IPO financing and the consideration of mergers and acquisitions of smaller cyber companies as it seeks a return to public markets in 2026, CEO Sumit Dhawan told CNBC. Noting that there are curreFntly too many players in the cybersecurity market, Dhawan said that Proofpoint is currently looking for acquisition targets that offer a "strategic fit" for the company — for the right price. "There are at this point in time, 2,000 or so non-profitable cybersecurity companies that are venture-backed, so clearly they'll either get consolidated or potentially not exist.

Persons: Sumit Dhawan, Thoma Bravo, Dhawan, Thoma, Dhawan's, Proofpoint Organizations: Privately, CNBC, Thoma Bravo

☆ Spacecraft delivery startup founded by former SpaceX rocket guru raises $150 million, led by Founders Fund
▼ + stars: | 2024-10-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

Impulse SpaceLos Angeles-based space startup Impulse, which is led by renowned rocket specialist Tom Mueller, has raised $150 million in a new fundraising round led by venture capital firm Founders Fund. University of IdahoImpulse flew its first mission, called LEO Express-1, with a Mira vehicle carrying and deploying a small satellite. A wide swath of venture investors joined the company's $150 million round including: Airbus Ventures, Alumni Ventures, Balerion Space Ventures, Lux Capital, RTX Ventures, Spring Tide, Tamarack Global, 137 Ventures, DCVC, Elysium, First Principles Group, Island Green, Overmatch and Trousdale Ventures. A Mira vehicle in orbit during the LEO Express-1 mission that launched November 2023, with several pairs of its Saiph thrusters visible. "There's a lot of cost and efficiency to be gained … [with] a reliable solution for any customer who wants to move things around in space," Mueller said.

Persons: Tom Mueller, Elon Musk, Mueller, Helios, Mira, we're, there's, SpaceX Organizations: Fund, Mueller, SpaceX, CNBC, University of Idaho, University of Idaho Impulse, LEO, Impulse, U.S . Space Force, Airbus Ventures, Ventures, Balerion Space Ventures, Lux, RTX Ventures, Trousdale Ventures, GEO, Rocket Lab, NASA Locations: Los Angeles, Beach, Redondo Beach , California

☆ Israeli troops have begun a ground war in southern Lebanon. Here’s what we know
▼ + stars: | 2024-10-01 | by ( Helen Regan | ) edition.cnn.com time to read: +8 min

More recently, Israel’s military declared a “limited” operation in Rafah, southern Gaza that has left the city in ruins. Shortly before the incursion, Israel’s National Security Cabinet approved the “next phase” of its war with Hezbollah, according to Israeli media. The Lebanese army had also evacuated observation posts at the southern border and moved to barracks in the border villages, according to a Lebanese security source. Smoke billows after an Israeli strike on a village near the southern Lebanese city of Tyre on September 29, 2024. What’s unfolded is some of the fiercest fighting between the two longtime foes since the 2006 Lebanon war, which killed 1,100 in the country.

Persons: CNN —, Israel, Hassan Nasrallah, Yoav Gallant, Nasrallah, Hassan Ammar, Benjamin Netanyahu, Kawnat Haju, Netanyahu, Joe Biden, Netanyahu –, —, Biden Organizations: CNN, Hezbollah, Security Cabinet, Israeli, Palestinian Liberation Organization, PLO, National Security Cabinet, Lebanese, Hamas, Getty, Iran, White Locations: CNN — Israel, Lebanon, Iran, Lebanese, Israel, Beirut's, Gaza, Rafah, Beirut, Beirut’s, Palestinian, Tyre, AFP, Yemen, Syria, Iraq, East, United States

☆ Silicon Valley has a plan to save humanity: Just flip on the nuclear reactors
▼ + stars: | 2024-10-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

No, the tech that’s going to save humanity will be powered by the tech that very nearly destroyed it. The tech industry’s solution, for now, is nuclear energy, which is more stable than wind or solar and is virtually carbon-emission-free. Amazon is working on putting a data center campus right on the site of a Talen Energy nuclear power plant in Northeast Pennsylvania. And while AI doomer predictions often get brushed off as alarmist forecasts, you can’t as readily dismiss the folks who are concerned about nuclear energy. Bottom line: There’s no AI future without a serious uptick in our power supply, which makes the expansion of nuclear power practically unavoidable.

Persons: CNN Business ’, Sam Altman, Peter Thiel, Anna Erickson, ” Organizations: CNN Business, New York CNN, Nvidia, International Energy Agency, JPMorgan, Microsoft, Energy, Financial Times, Founders Fund, Georgia Tech, Big Locations: New York, Harrisburg , Pennsylvania, Northeast Pennsylvania, Idaho, Big Tech

☆ Some techies are leaving cushy Silicon Valley jobs to launch startups at home in India
▼ + stars: | 2024-10-01 | by ( Shubhangi Goel | Charissa Cheong | ) www.businessinsider.com time to read: +11 min

Some expat Indians are moving back home to launch companies of their own. But the chaos, where even established startups are trying and failing, makes India a fair playing field for new entrants, Hassan said. Programs like Startup India, which provides founders benefits like tax exemption, easier compliance, and funding support, have made creating a company smoother. Bhide returned to India in January, leaving behind about $580,000 in total compensation at ticketing platform StubHub. Bhide said the general sentiment among local founders is shifting from "Build from India" to "Build for India."

Persons: —, Nithin Hassan, — Hassan, Hassan, he's, Binod Khadria, Khadia, That's, Ben Mathias, VCs, Mathias said, Devyani Parameshwar, It's, Rohan Bhide, Bhide, Dhruv Anand, Dhruv Anand Dhruv Anand, Anand, Ruchit Garg, Garg, Niranjan Vemulkar, Vemulkar Organizations: Service, Amazon, Microsoft, Meta, Global Research, Diaspora, Business, Vertex Ventures, Indian, Startup, Reliance, Tech, Google Locations: India, Bengaluru, Oyo, Byju's, Asia, Africa, Delhi, Gurugram, Silicon Valley, It's, Mumbai, Bangalore

☆ PayPal CEO's first year was praised by Wall Street, but hard part starts now for struggling payments company
▼ + stars: | 2024-10-01 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Analysts across Wall Street saw rising competition and a declining take rate, or the percentage of revenue PayPal keeps from each transaction. Fast forward to today, and the picture is dramatically brighter for the 26-year-old Silicon Valley company and its 47-year-old CEO. Analysts are projecting roughly 6% revenue growth when PayPal reports third-quarter results in about a month, according to LSEG. Venture capitalist Oren Zeev has seen Chriss work with small businesses in another capacity. "He obviously brought a lot to the table with his vast experience with small businesses," Zeev said.

Persons: Alex Chriss, CNBC's David Faber, hadn't, Chriss, downgrades, Dan Dolev, Dolev, Susquehanna's James Friedman, he's, Friedman, Dan Schulman, Dana Stalder, He's, PayPal didn't, Isabel Cruz, Michelle Gill, Diego Scotti, Jamie Miller, Stalder, we've, Faber, Susquehanna's Friedman, That's, Will Ferrell, Ferrell, Fleetwood, hasn't, Sanjay Sakhrani, Sakhrani, SMBs, Oren Zeev, Zeev Organizations: PayPal Inc, PayPal, New York Stock Exchange, Mizuho Securities, CNBC, Apple Pay, Nasdaq, Meta, Matrix Partners, Intuit, Walmart, Verizon, Starbucks, Ticketmaster, Apple, Google, Shopify, Venture Locations: Wall, Braintree, EY, Venmo, U.S

Consulting firms have faced increased employee turnover after layoffs and delayed start dates. For decades, business students and MBAs looked to consulting because the work was high in pay and prestige. AdvertisementThe lure of other industriesThe declining appeal of the consulting industry is most evident in the number of employees leaving. That's different from when he left in 2022, when there was a pandemic-fueled boom for consulting work. "When I was transitioning out of consulting, consulting was actually still all the rage.

Persons: —, MBAs, Jason Saltzman, Lightbank, Ezra Gershanok, Gershanok, Gorick Ng, Ng, Matt Sternberg, Sternberg, he's, who've, Consulting hasn't, Ernst, Young, Irmgard Naudin, Cate, Atli Thorkelsson, Thorkelsson Organizations: Service, Accenture, Technologies, McKinsey, Harvard University, Boston Consulting Group, BI, Big, Consulting, Redpoint Ventures, Business Locations: —, London

☆ Why Kamala Harris and Donald Trump Are Courting the Crypto Crowd
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. Related storiesWhile Molly White, a crypto researcher and critic, described Harris' recent statements about crypto as "middle of the road," she said she thought the crypto industry was "definitely taking an optimistic view." The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

Persons: cryptocurrency, Crypto, Sen, Katie Porter, Jamaal Bowman, Sherrod Brown's, Bernie Moreno, Donald Trump, Kamala Harris, Trump, Harris, Marc Andreessen, Ben Horowitz, Andreessen Horowitz, Cameron, Tyler Winklevoss, He's, Adam Kovacevich, Joe Biden's, Gary Gensler, Lina Khan, Biden, Sheila Warren, Brian Hughes, Elizabeth Warren, Jon Tester, Bernie Sanders, Barron, it's, Robert Weissman, he's, She's, Chuck Schumer, Jared Polis of, Anthony Scaramucci, Mark Cuban, Ron Conway, Sherrod Brown, Kamala, she's, Rachael Horwitz, " Horwitz, Harris hasn't, Molly White, Horwitz, It's, There's, Weissman, Dan Cassino, Khan, Warren, that's, Emily Stewart Organizations: Democratic, Sherrod Brown's Republican, Gemini, Facebook, Trump, GOP, Republican, of, Democrats, Securities and Exchange, Federal Trade Commission, Crypto, Innovation, Liberty Financial, Public Citizen, Financial Times, Politico, Gov, Jared Polis of Colorado, Wall Street, Haun Ventures, Fairleigh Dickinson University, Capitol Hill, SEC, FTC, Chamber, Business Locations: Ohio, Wisconsin, Nashville, United States, Silicon Valley, That's, California, New York, America, bitcoin, Washington

The most sweeping effort yet to regulate artificial intelligence, a California bill that could have informed laws around the world, is going back to the drawing board. 1047 provided necessary guardrails, and they urged California policymakers to reject intense pressure from software giants against the bill. Smaller tech companies also pushed back, worried that A.I. While governments around the world (and A.I. Act, which focuses on the riskiest use of the technology but also includes transparency requirements for the largest models.

Persons: Gavin Newsom, ” Newsom, Geoffrey Hinton, Elon Musk, Nancy Pelosi, Newsom’s, Sam Altman, OpenAI Organizations: Gov, Hollywood, Street, Google Locations: California, Silicon, S.B

☆ What Walz’s and Vance’s past debates may reveal about Tuesday’s high-stakes matchup
▼ + stars: | 2024-09-30 | by ( Daniel Strauss | ) edition.cnn.com time to read: +14 min

Past debate footage reveals that both generally veer away from personal attacks and prefer loftier rhetoric to digging deeply into specific facts to establish policy credibility. Their past debate opponents said they didn’t always provide direct answers to questions. In both the primary and general election debates, Vance often stuck to policy areas he felt most comfortable with: immigration, the economy and drug control. According to those interviews and evidence from his past debates, Vance, a Yale Law School graduate, seems to enjoy getting into verbal volleys. Tim Walz debates for governor on August 17, 2018, at Grand View Lodge, in Nisswa, Minnesota.

Persons: Kamala Harris, Donald Trump, Tim Walz, Ohio Sen, JD Vance, Walz, Harris, Vance, The Walz, ’, We’re, ”, Rebecca Pearcey, Trump, Tim Ryan, Ryan, I’ve, ” Vance, “, he’s, ” Ryan, —, ” JD Vance, Bret Baier, Martha MacCallum, Andrew Spear, Ohio Republican Michael Gibbons, “ JD, it’s, –, George Floyd, Walz’s, Walz didn’t, Jeff Johnson, ” Walz, Johnson, Allen Quist, Quist, Sen, John McCain’s, Glen, Republican Scott Jensen, Derek Chauvin’s, Daunte Wright, doesn’t, Tim Kaine, Mike Pence, let’s Organizations: CNN, Minnesota Gov, Ohio, Democratic, Trump, Republican National Convention, New York Times, Rep, Ohio Republican, Fox News, Yale Law School, Republican, Minnesota’s, Congressional, Republicans, Minnesota Star Tribune, Getty, National Guard, Pence Democratic Locations: Atlanta, New York, Ohio, Columbus , Ohio, United States, “, Youngstown, Minnesota, Nisswa , Minnesota, Glen Stubbe

☆ Mini-moons like the one Earth just captured could be huge business opportunities
▼ + stars: | 2024-09-30 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +6 min

The second moon that Earth has captured in its orbit this month is an asteroid called 2024 PT5. Mini-moons like this could be ideal targets for asteroid mining to send humans deeper into space. Space mining could be huge, since some asteroids are worth more than our entire global economy. Some startups are trying to figure out how to start mining space rocks, and do it in a cost-effective way. "Either if you are thinking about collecting mineral samples for research or starting a space mining venture, mini-moons are your best bet to get your business off the ground," he said.

Persons: —, it's, Carlos de la Fuente Marcos, Elon, Marcos, Teddy Kareta, Mars, Richard Binzel, they're, Kareta Organizations: Service, NASA, Business, Lowell Observatory, JPL, Caltech, ASU, SpaceX, MIT Locations: Mars, Earth's

☆ Big Tech just notched a huge win in California with an AI bill veto
▼ + stars: | 2024-09-30 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +5 min

Gavin Newsom vetoed an artificial intelligence safety bill on Sunday. Gavin Newsom vetoed an artificial intelligence safety bill on Sunday, a win for AI heavyweights like OpenAI and Big Tech companies that lobbied against it. The debate in California reflects the challenge governments face walking the fine line between allowing tech companies to innovate while protecting against new potential risks. Elon Musk, who founded AI company xAI last year, said last month that although it was "a tough call and will make some people upset," he thought "California should probably pass the SB 1047 AI safety bill." Several former OpenAI employees also supported the safety bill and said that OpenAI's opposition to the bill was disappointing.

Persons: Gavin Newsom, Newsom, —, Sen, Scott Weiner, Wiener, didn't, Charles Schwab, Rob Sherman, Marc Andreessen, Andreessen Horowitz, Newsom's, Jason Kwon, Meta, Elon Musk, xAI, Dario Amodei, William Saunders, Daniel Kokotajlo Organizations: Service, Big Tech, Chevron, Tesla, Oracle, Venture Capital Locations: California, Silicon Valley

☆ AT&T sells 70% stake in DirecTV to TPG for $7.6 billion
▼ + stars: | 2024-09-30 | by ( ) www.cnbc.com time to read: 1 min

AT&T said on Monday it would sell its 70% stake in satellite TV service DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for the telecom operator. AT&T in 2021 signed a joint-venture agreement with TPG, which contributed about $1.8 billion in cash in exchange for a 30% stake in DirecTV that was valued at about $16 billion at the time. The telecom company had agreed not to sell its stake in DirecTV for a three-year period, which expired on July 31. The stake sale would allow AT&T to focus on its core wireless and fiber connectivity operations and help improve its balance sheet. AT&T would receive an initial payment of $2 billion in 2025, and additional payments through 2029, the company said in a filing on Monday.

Organizations: DirecTV, TPG

☆ Rupert Murdoch’s property group REA ends chase to buy Rightmove after multiple rejected offers
▼ + stars: | 2024-09-30 | by ( April Roach | ) www.cnbc.com time to read: +2 min

LONDON — Rupert Murdoch's Australian property firm REA Group said Monday it would no longer seek to buy the U.K.'s Rightmove after the property portal rejected a fourth takeover proposal. "We were disappointed with the limited engagement from Rightmove that impeded our ability to make a firm offer within the timetable available. Rightmove, meanwhile, said Monday in a separate statement that its board unanimously rejected REA Group's fourth offer proposal on the grounds that it "materially undervalued Rightmove and its future prospects." REA Group, in which News Corp owns a more than 61% interest, operates a number of property websites in Australia, as well as several brands in India and the U.S. The company sold its real estate site PropertyFinder Group to Rightmove rival Zoopla in 2009, during the Global Financial Crisis.

Persons: Rupert, REA, Owen Wilson, Rightmove, REA Group's, It's, Andrew Fisher, Zoopla, Karen Gilchrest Organizations: Rightmove, REA, Murdoch's News Corp, Reuters, REA Group, News Corp, U.S Locations: London, Rightmove, Melbourne, Australia, India

☆ 2024 Election: Crypto Bros Could Swing Votes Toward Kamala or Trump
▼ + stars: | 2024-09-30 | by ( Emily Stewart | ) www.businessinsider.com time to read: +14 min

Trump and Harris have different reasons to try to attract the crypto community — donors, voters, the fact that the former president likes anyone who flatters him, etc. All of Trump's courting of the crypto industry is possible because Democrats left open an opportunity for him to pounce. In September, he unveiled his own crypto venture, World Liberty Financial. The crypto industry doesn't mind the attention it's getting from policymakers. What Harris or Trump will actually do on crypto is unclear, but that's not really the point right now.

☆ VCs are rushing to meet with former OpenAI CTO Mira Murati in hopes of funding a new company
▼ + stars: | 2024-09-30 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +4 min

Mira Murati announced her departure from OpenAI last week. In an X post, Murati wrote, "I'm stepping away because I want to create the time and space to do my own exploration." AdvertisementVenture capitalists are clamoring to meet with Mira Murati, the former CTO of OpenAI, as Silicon Valley expects her to start her own company soon. In a X post, Murati announced her departure from OpenAI last week. Murati wrote, "My six-and-half years with the OpenAI team have been an extraordinary privilege…There's never an ideal time to step away from a place one cherishes, yet this moment feels right."

Persons: Mira Murati, OpenAI, Murati, Ilya Sutskever, —, … There's, Andrej Karpathy, Anthropic, Dario Amodei, Aravind Srinivas, Sam Altman, Mira, Bob McGrew, Barret Zoph, –, Altman, Wojciech Zaremba, Zaremba Organizations: Service, Venture, Business, OpenAI, Eureka Labs, San, supercomputing, Tesla, Microsoft, Altman, Reuters Locations: Silicon, OpenAI, San Francisco

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