🕶️ OpenAI for-profit model

AuthorAuthor

Paula Echeverria & Arturo Pardo
September 28, 2024

Today's sponsor

OpenAI’s thinking about going full for-profit after a few execs jumped ship, possibly boosting its valuation to a cool $150B—and making Sam Altman’s bank account very happy. 🤑

In other news, people are spilling their relationship drama to ChatGPT, but experts say: maybe don’t? Between privacy risks and questionable advice, it’s a toss-up.

Next up: Nomi AI is creating emotionally savvy chatbots to handle your feelings—because clearly, we didn’t just warn you about trusting AI with your personal problems.

🕶️
✦

Six bullets of updates

  1.  A judge narrowed a lawsuit accusing Apple of collecting personal data through apps like the App Store, Apple Music, and Apple TV.

  2. 🗞️ Trump says he will seek Google's prosecution if he wins the election, claiming that the company only displays "bad stories" about him.

  3. 🔍 Nomi AI aims to develop the most emotionally intelligent chatbots, helping users with personalized interactions.

  4. 👻 A new dating app, After, aims to reduce ghosting by allowing users to send follow-up messages 24 hours later.

  5. 🌶️ Subscription management platform RevenueCat acquires a 'spicy' audiobook app to enhance feature testing.

  6. 🚖 Uber partners with WeRide for robotaxis, Rivian reveals $10M in grants, and new aviation startups raise millions.

✦

OpenAI gears up for $6.5B funding, possible for-profit shift

OpenAI might be switching gears to a for-profit model after key execs Mira Murati, Barret Zoph, and Bob McGrew announced their departures. This shakeup coincides with a potential $6.5 billion funding round that could skyrocket OpenAI’s valuation to $150 billion. Entrepreneur says that if OpenAI makes its core business for-profit, it could mean a $10 billion payday for 39-year-old CEO Sam Altman.

This shift means it will no longer be solely accountable to its non-profit board to attract additional investors. However, its non-profit division will continue to operate.

This move aligns OpenAI with rivals like xAI and Anthropic. Investors have big stakes, and this is a pivotal moment for the AI sector. Read more!

✦

Startup Events and Deadlines

  1.  From Pitch Deck to Funding | September 30 | Webinar

  2. Antler Amsterdam | September 30 | Amsterdam

  3. Antler US | October 1 | USA

  4. From Pitch Deck to Funding | October 2 | Webinar

  5. StartX (Stanford-StartX Fund) | October 10 | USA

  6. Crash Course in Financial Modeling | October 10 | Webinar

✦

Walaaxy, the world's #1 automated prospecting tool 🚀

Waalaxy is the world's #1 tool for automated LinkedIn prospecting, with over 150K users and a 4.8/5 rating from +1,200 reviews.

Why? Because it allows anyone, without any technical skills, to automate LinkedIn prospecting:

  • Reach out to 800 qualified prospects per month.

  • Capture your competitors' audience.

  • Test a market for your business.

  • And countless other use cases.

Turn LinkedIn into your #1 acquisition channel (and get a 10x ROI with the subscription).

✦

These companies just raised money

  1. 🏨 Amsterdam-based Mews secured a $100M credit to dominate hotel SaaS, following a $1B valuation and 60% revenue growth.

  2. ⚡ Zap Energy secured a $130M funding round, with Soros Fund and Laurene Powell Jobs' Emerson Collective as critical investors.

  3. 🔴 Redwood, a newly formed investment firm, has signed a $65M deal with Loco, selling a majority stake.

  4. 🪨 Brazil's ROCK secures $54M and acquires Bnex to enhance its 130M-user customer engagement platform.

  5. 📱 Prepared, which lets 911 dispatchers text and video chat with callers, raises $27M in a Series B round led by Andreessen Horowitz.

  6. 🎸 EVA raises $2M to expand its entertainment booking platform to more cities amid the resurgence of in-person events.

✦

Experts Warn on ChatGPT's Role in Therapy

Many people are turning to ChatGPT for advice on relationships and life challenges, with TikTok users sharing their experiences using AI as a substitute for traditional therapy. The appeal lies in its free and fast responses, especially in areas lacking mental health professionals.

However, using AI for mental health support carries risks. Unlike human therapists who uphold confidentiality, ChatGPT raises concerns about data privacy and may generate harmful advice. Experts caution that while it can serve as an outlet for expression, it is not a suitable replacement for professional therapy—at least for now.

⚠️ Please remember: ChatGPT isn't designed to be a therapist and warns users that it may generate incorrect information or harmful, biased advice. Read more!

✦

Together with

Hire Ava, the Industry-Leading AI BDR

Ava automates your entire outbound demand generation so you can get leads delivered to your inbox on autopilot. She operates within the Artisan platform, which consolidates every tool you need for outbound:

  • 300M+ High-Quality B2B Prospects

  • Automated Lead Enrichment With 10+ Data Sources Included

  • Full Email Deliverability Management

  • Personalization Waterfall using LinkedIn, Twitter, Web Scraping & More

✦

Investor Data Room Checklist

An investor data room is a storage space, digital or physical, where companies store information relevant to due diligence. We've compiled a FREE Template/Checklist of all the items your data room should include and resources and tools for obtaining them.

✦

Don’t Waste Money on Software Patents

Find out why patents rarely benefit software startups and uncover the facts about patenting tech innovations. In this video, you’ll learn to explore real-world examples of what can and can't be patented. Go ahead and subscribe! 

How did we do?

Your feedback fuels us.

Login or Subscribe to participate in polls.