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☆ OpenAI's latest funding round could be a bargain or a bust for investors
▼ + stars: | 2024-10-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The high-profile startup announced the closing of a $6.6 billion funding round that valued it at $157 billion. And more exits could be coming since OpenAI is reportedly working on allowing its employees to sell their shares in the company . Win McNamee and Didem Mente/Anadolu Agency via Getty Images; Jenny Chang-Rodriguez/InsiderIt's important to remember OpenAI's eye-popping valuation is just that … a valuation. Which gets us back to $157 billion OpenAI.

Persons: —, Elon Musk's, Josh Kushner's, Cathy Wood's, Chase, Here's, Mira Murati, Kevin Weil, Rob Price, OpenAI, Sam Altman, Win McNamee, Didem, Jenny Chang, Rodriguez, Brad Gerstner, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Elon, Elon Musk's SpaceX, Venture, Microsoft, Nvidia, Anadolu Agency, Getty, Big Tech Locations: Silicon Valley, New York, London

☆ OpenAI has secured a $157 billion valuation. Now comes the hard part.
▼ + stars: | 2024-10-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

OpenAI is now worth $157 billion, but it can't rest easy yet. Now comes the hard part: emerging victorious in a fiercely competitive AI industry. Though Sam Altman's company cemented its status as a frontrunner in the generative AI boom this week, securing a new $157 billion valuation after raising $6.6 billion of fresh capital from marquee investors, its leading position is hardly guaranteed. Sure, Altman's company now casts a massive shadow over the industry with its fresh $157 billion valuation. AI companies have been spending huge sums to purchase chips from Jensen Huang's Nvidia.

Persons: OpenAI, —, Sam Altman's, Sam Altman, Andrew Caballero, Reynolds, Altman, Elon Musk's, Ilya Sutskever, Nathan Benaich, Dario Amodei, Jensen, Jeff Chiu, Benaich, it's, VCs Organizations: Service, Valley's, Financial, Nvidia, SoftBank, Microsoft, Elon, Air Street Capital, The New York Times, Google, Big Tech, Meta Locations: Silicon Valley, AFP

☆ I grew my side hustle into a $20,000 a month business — here are 4 tips I have for aspiring entrepreneurs
▼ + stars: | 2024-10-03 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +4 min

Jean Kang, 32, brings in about $20,000 a month with her business. Growing up in the San Francisco Bay Area, she had always envisioned herself working for a big tech company. Having witnessed the rise of Silicon Valley from her own backyard, she worked hard to land her first tech job. "I was very shocked that I could supplement my take home pay from my tech job, [adding] another $30,000 completely by myself," said Kang. She has also scaled her business by shifting from doing mostly one-on-one coaching to running 5-week group programs.

Persons: Jean Kang, Jean Kang Jean Kang, Kang Organizations: San Francisco Bay Area, CNBC Locations: San Francisco Bay, Silicon Valley

☆ Scientists are testing a keto cocktail for longevity and vigor — without the high-fat diet
▼ + stars: | 2024-10-03 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +7 min

JuvenescenceFasting, low-carb, high-fat diets like keto, and drinking ketone esters can all prompt ketones to circulate in a person's blood. Ketone ester drinks don't require the liver to convert fat into ketones, which is what happens with fasting and the keto diet. "If you were wanting to lose weight, you want to be burning your own fat and turning it into ketones," Stubbs said. Ketone drinks don't do that. But she also says that any eventual geriatric recommendation for ketone esters isn't likely to be one-size-fits-all.

Persons: —, Brianna Stubbs, they're, Stubbs, John Newman, there's, Mark Mattson, I'd Organizations: Service, Buck Institute for Research, Buck Institute, Olympic, National Institute, frailty Locations: California, Silicon, Wales, California , Connecticut, Ohio

☆ I attended Bryan Johnson's Don't Die Summit in Singapore. It started with a rave.
▼ + stars: | 2024-10-03 | by ( Amanda Goh | ) www.businessinsider.com time to read: +12 min

Bryan Johnson brought his "Don't Die" summit to Singapore in mid-September. This year, Bryan Johnson, the millionaire entrepreneur obsessed with reversing his biological age, brought his "Don't Die" summit to Singapore, less than two weeks after a similar event in San Francisco. The "Don't Die" summit organizers provided Business Insider with access to attend the event. Coinbase's former chief technology officer Balaji Srinivasan even talked about how he planned to "build an actual 'Don't Die' community" at his three-month crypto-focused "school" for adults in nearby Malaysia. As he invited several audience members onstage for a discussion about his "Don't Die" philosophy, I surveyed the room.

Persons: Bryan Johnson, Johnson, —, Taki Taki, blared, Amanda Goh, Coinbase's, Balaji Srinivasan, Horacio Villalobos, Dustin Giallanza, Andrea Maier, hasn't, Chrystal Fong, Dr, Fong, Marion Neubronner, Jacky Wang, Wang, Dan Buettner Organizations: Service, Bloomberg, National University of Singapore, FDA, AsiaHealth Partners Locations: Singapore, San Francisco, Miami , New York, Los Angeles, Valley, Southeast Asia, Malaysia, Taiwan

☆ A California family of 5 found a house in Scotland listed for under $270,000. The catch: It was half the size of their old place.
▼ + stars: | 2024-10-03 | by ( Amanda Goh | ) www.businessinsider.com time to read: +9 min

Zach and Annie moved their family from California to Scotland for a simpler life. They had been living in California, where Zach — who was originally from Scotland — was working with the highway patrol. Advertisement"We made an effort pretty much every year, apart from during COVID-19, to travel back to Scotland," Zach said. Zach and Annie/Simple Scottish LivingZack and Annie closed on the house in February, but only arrived in Scotland with their kids in May. Zach and Annie/Simple Scottish LivingAlthough the couple enjoyed living in the US, life in Scotland reminded them of their own childhoods.

Persons: Zach, Annie, —, Zach —, Scotland —, I've, It's, they'd, they've, Zack Organizations: Service Locations: California, Scotland, Sonoma County, Silicon Valley, East Lothian, Edinburgh, COVID

☆ OpenAI's chairman says AI is in a bubble — but one that could be wildly lucrative
▼ + stars: | 2024-10-03 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

The AI bubble, Taylor said, will be similar to the dot-com bubble in the late 1990s. AdvertisementThe buzz surrounding AI may echo the exuberance and excesses of the dot-com bubble in the late 1990s, OpenAI chairman Bret Taylor said in a podcast that aired on Wednesday. "I think the AI bubble will rhyme with the dot-com bubble and I believe with the benefit of hindsight, most of the excess of the dot-com bubble might have been justified," Taylor added. Most of today's leading tech companies like Amazon and Google, Taylor said, were started during the dot-com bubble. Advertisement"A huge percentage of the gains in the stock market over the past 30 years have more or less been these digital companies created in the dot-com bubble," Taylor said.

Persons: Bret Taylor, Sam Altman's, Taylor, Harry Stebbings, —, Sam Altman, Mark Twain, Stebbings, Elon Musk, Goldman Sachs, Jim Covello, hasn't, We’ve, Elon, Musk Organizations: OpenAI's, Service, Google, Business Insider, Stanford, Facebook, Elon Locations: OpenAI, Silicon Valley

☆ OpenAI's investors include Silicon Valley's most prolific bubble chasers. Is that a bad sign for the company's future?
▼ + stars: | 2024-10-03 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

AdvertisementOpenAI has officially closed a historic funding round. AdvertisementTiger Global is also one of the firms that backed OpenAI in this latest funding round. AdvertisementNotably absent from the list of OpenAI investors was Apple, which is said to have dropped out of the deal at the 11th hour. Apple's inclusion in OpenAI's funding round may have gone a long way toward quieting doubts about OpenAI's palace intrigue and general chaotic vibe. A few weeks ago, this funding round was being talked about as the arrival of the adults in the room.

Persons: OpenAI, —, Adam Neuman, Masayoshi Son, Neuman, SoftBank, Morningstar, You'd, Goldman Sachs, Tim Cook, Cook, Elon Musk Organizations: Nvidia, United, United Arab Emirates, Service, SoftBank's, Business, Ark Venture, BI, Apple Locations: United Arab, Silicon, Silicon Valley

☆ OpenAI executive says the startup has a 'great bench' after CTO's abrupt departure
▼ + stars: | 2024-10-02 | by ( Rob Price | ) www.businessinsider.com time to read: +4 min

OpenAI exec Kevin Weil told BI the company has a "great bench" after CTO Mira Murati abruptly quit. AdvertisementThe hundreds of attendees at Ray Summit, an AI conference in San Francisco, were originally hoping to hear from Mira Murati, the chief technology officer of OpenAI, on Wednesday. AdvertisementIn a brief interview with Business Insider immediately afterwards, Weil praised Murati while downplaying the impact of her departure. Weil, a former Instagram executive, highlighted Mark Chen as an example of the talent still around at OpenAI. "So I'm really excited to partner with him and I'm really optimistic about what we're building."

Persons: Kevin Weil, Mira Murati, Weil, —, Murati, Robert Nishihara, OpenAI, Mira, I've, Mark Chen, Chen, you've, I'm, Jane Street, Sam Altman, Ilya Sutskever, superalignment, Jan Leike, John Schulman, Barret Zoph, Bob McGrew, Bob, we've, We've Organizations: Service, Ray Summit, Business, Integral Technology, MIT Locations: OpenAI, San Francisco, Silicon

OpenAI's $6.6 billion funding raise attracted some big names across the industry. The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. MicrosoftMicrosoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. FidelityFidelity also participated in OpenAI's latest funding round. AdvertisementAltimeter Capital ManagementAltimeter Capital Management also contributed to OpenAI's latest funding round, according to reports.

Persons: —, Sam Altman, OpenAI, Here's, Anderson Cooper, Josh Kushner, Instagram, Kushner, Altman, josh, SoftBank, Masayoshi Son, Son, Marco Bello, Wood, Morningstar, Bing, Jensen Huang, Sam Yeh, Elon Musk's, Brad Gerstner, Gerstner, Vinod Khosla, Vaughn Ridley, Khosla, MGX Organizations: Service, Allen & Company Sun Valley Conference, Getty, Capital, Business, VC, Wall Street, Reuters, Vision Fund, Venture, ARK Invest, ARK Venture Fund, SpaceX, Microsoft Microsoft, Wall, Rival Apple, Microsoft, Nvidia Nvidia, Nvidia, Tiger Global Management, Fidelity Fidelity, Elon, Elon Musk's xAI, Fidelity, Capital Management, . Khosla, Getty Khosla Ventures, Sun Microsystems, United Arab, Bloomberg Locations: OpenAI, Silicon Valley, OpenAI ., Tokyo, Saudi, ARK, AFP, IPOs, America, United Arab Emirates

☆ Devastation from Hurricane Helene could bring semiconductor chipmaking to a halt
▼ + stars: | 2024-10-02 | by ( Clare Duffy | Dianne Gallagher | ) edition.cnn.com time to read: +7 min

In addition to this, our teams are joining the local taskforces to try to restore the most basic services and bring further supplies to Spruce Pine,” The Quartz Corp said in a statement. The Quartz Corp facility near Spruce Pine, North Carolina, is seen during a CNN flyover of the area on Monday, September 30. And while quartz is abundant around the world, the kind of ultra-high-purity quartz mined in Spruce Pine is not. The Spruce Pine mines provide an estimated 80% to 90% of the world’s high-purity quartz — experts say the exact amount is proprietary and unknown — supplying semiconductor manufacturers like chipmaking giant Taiwan Semiconductor Manufacturing Company. However, Wang said that despite the scale of the devastation in Spruce Pine, there is still reason for optimism.

Persons: Hurricane Helene, Helene, —, ”, Seaver Wang, Spencer Bost, ” Bost, ’ ” Sibelco, “, Sibelco, that’s, Gregory Allen, David Bader, CSIS’s Allen, Wang, ” Wang Organizations: New, New York CNN, Quartz Corp, Breakthrough Institute, Downtown, CNN, Belgian, Wadhwani Center, AI, Technologies, Center for Strategic, International, Taiwan Semiconductor Manufacturing Company, Institute for Data Science, New Jersey Institute of Technology Locations: New York, North Carolina, Hurricane, Spruce Pine, United States, Sibelco, Silicon, Downtown Spruce, Norwegian, Spruce, Spruce Pine , North Carolina, “

☆ OpenAI is just one piece of the puzzle in SoftBank's grand vision for AI
▼ + stars: | 2024-10-02 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

It will also end the week with another reputation: a new piece in the grand puzzle being solved by Masayoshi Son. Related storiesMasayoshi Son's AI vision is ambitiousOpenAI CEO Sam Altman will form just one part of Masayoshi Son's AI plans. Andrew Caballero-Reynolds/AFP/Getty ImagesTo understand Son's grand AI ambitions, it's worth first zooming out to see how SoftBank currently maps out AI investment opportunities. As of June, Vision Fund 1's gains were $21.7 billion, while Vision Fund 2 losses totaled $22.9 billion. AdvertisementSo it's become clear that Son's focus has fallen on the other part of his AI investment stack.

Persons: —, Masayoshi Son, Sam, Sam Altman's, ChatGPT, Sam Altman, Andrew Caballero, Reynolds, SoftBank, it'll, Son's, it's, Son, Michael M, Graphcore, Nigel Toon, OpenAI's Altman, Lionel Barber, Barber Organizations: Service, Bloomberg, Getty, Business, Microsoft, Vision, Vision Fund, Nvidia, Nikkei, Wall Street, Financial Times Locations: Tokyo, AFP

☆ Anduril's Palmer Luckey slammed restrictions on AI use in the military
▼ + stars: | 2024-10-02 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

In a college talk, Palmer Luckey criticized AI restrictions in military use. Luckey, founder of Anduril Industries, warned of adversaries like Russia and China using AI. In a Tuesday talk at Pepperdine University, Palmer Luckey, the founder of Anduril Industries, said he fears that AI will be used by "evil people," while Western powers are being coerced into not using AI. He added that Iran is going to have access to great AI in the future, and that China already has great AI. During Tuesday's talk, Luckey said that all of Anduril's tech operates autonomously and runs on its AI platform, called Lattice.

Persons: Palmer Luckey, —, Luckey, Anduril, Alex Karp, Karp, we're, Brian Schimpf Organizations: Anduril Industries, Service, Pepperdine University, United Nations, VR, Meta, of Defense, Department of Homeland Security, Special, Command, Founders Fund, Sands Capital, New York Times Locations: Russia, China, Ukraine, United, Iran, Europe, West, Israel, Palantir

☆ India to fabricate its first chip in two years as Nvidia, AMD and Micron pledge to expand to the country
▼ + stars: | 2024-10-01 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will fabricate its first chip in two years, Commerce Minister Piyush Goyal told CNBC during a one-on-one interview in New York. Nvidia , AMD , Micron are among the U.S. companies that have pledged to expand in the country. Goyal added that Indian behemoth Tata and other domestic companies are working to make India's semiconductor dream a reality. And according to Goyal, Indian customers are increasingly opting for the more expensive iPhones.

Persons: Piyush Goyal, chipmakers, Goyal, behemoth Tata, Narendra Modi, Apple, Warburg Pincus Organizations: of Commerce and Industry, Consumer Affairs, Food, Commerce, CNBC, Nvidia, AMD, Micron, behemoth, Taiwan Semiconductor Manufacturing Company, Samsung, U.S, Apple, BlackRock, KKR, Google, Microsoft Locations: India, New York, Silicon Valley, China, Goyal

☆ 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

☆ 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

☆ 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

☆ 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

☆ Mark Zuckerberg says he wants to be remembered for this
▼ + stars: | 2024-10-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Meta founder Mark Zuckerberg knows how he wants to be remembered. Zuckerberg hopes Meta will be a "technology" company decades from now — not just an "app company." Zuckerberg wants people to say Meta took "really big swings" that changed the industry and the world. Right, we're not like — we're not an app company," Zuckerberg said of Meta. Zuckerberg said as well that he just wants Meta to be a company that "builds awesome things."

Persons: Mark Zuckerberg, Zuckerberg, Meta, —, Tiffany Janzen, we're, hasn't, Steve Jobs, Jobs, Elon Musk, Musk Organizations: Service, Meta, Business Insider, Harvard, Facebook, Apple, IDC, SpaceX Locations: WhatsApp, Silicon

☆ 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.

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

☆ 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.

☆ 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

☆ 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

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

☆ 46-year-old sold a business for $3.7 billion—and immediately regretted it: That was my 'saddest day'
▼ + stars: | 2024-09-30 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +7 min

The deal made hundreds of the startup's employees, Bansal included, instantly wealthy. But what should have been a joyous moment became Bansal's "saddest day," he tells CNBC Make It. He built AppDynamics around the biggest problems he faced as an engineer, creating tools for troubleshooting outages and other software applications flaws. After six months of traveling the world, Bansal launched a San Francisco-based startup called Harness, which also makes tools for software developers. It was most recently valued at $3.7 billion in 2022, according to the company, the same amount AppDynamics sold for.

Persons: Jyoti Bansal, Bansal, AppDynamics, hadn't, could've, —, You've, It's Organizations: CNBC, Cisco, Harness Locations: India, San Francisco, Machu, Africa, Norway

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