Fri. 09/27 – Sam Altman Declines To Go “Founder Mode”

Sep 27, 2024 16m

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Episode Description

Founder Mode? Not for me, says Sam Altman, but we will see. A few new gadgets from Samsung. Maybe ARM should buy Intel. Are AI startups hitting revenue traction faster than SaaS startups did? And, of course, the Weekend Longreads Suggestions. Links: Sam Altman tells OpenAI staff there’s no plan for him to receive a ‘giant equity stake’ in company (CNBC) Samsung Galaxy S24 FE goes official starting at $649 – is it still a ‘Fan Edition?’ (9to5Google) Arm Is Rebuffed by Intel After Inquiring About Buying Product Unit (Bloomberg) Exponential growth brews 1 million AI models on Hugging Face (ArsTechnica) AI start-ups generate money faster than past hyped tech companies (FT) Weekend Longreads Suggestions: McDonald’s touchscreen kiosks were feared as job killers. Instead, something surprising happened (CNN) Apple Rolls Back Its Big Plans to Release Movies in Theaters (Bloomberg) The 27-Year-Old Economic Adviser for Gen Z (WSJ)

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Sam Altman and OpenAI's Future

In a recent all-hands meeting, Sam Altman, co-founder of OpenAI, stated there are no current plans to receive a significant equity stake in the company. This comes amidst employee speculation and concern about his lack of equity in a highly valued organization. OpenAI is considering transitioning to a for-profit structure while maintaining its non-profit division. However, internal strife concerning the company's fast-paced product announcements, mission focus versus profit generation, and executive tensions has been reported, suggesting growing pains for the organization.

New Samsung Gadgets Announced

Samsung has launched several new products including the Galaxy Tab S10 Ultra and S10 Plus, which come equipped with AI enhancements, and the more affordable Galaxy S24 FE starting at $649. The S24 FE is an attempt to offer a budget-friendly version of the S24 series, featuring advanced specifications while maintaining a lower price point. Samsung is providing discounts for trade-ins, making the devices appealing to potential buyers.

Potential ARM and Intel Acquisition Talks

ARM has reportedly approached Intel about acquiring its product group, excluding its manufacturing operations. While Intel declined the offer, the discussions reflect ARM's ambitions to branch out from primarily mobile chip designs into the personal computer and server markets. With the AI boom driving demand for chips, ARM's recent IPO and significant market valuation place it in a strategic position for future growth.

Rise of AI Startups

Recent data suggests that AI startups are reaching significant revenue milestones much faster than traditional SaaS companies. The median time for new AI companies to achieve $1 million in revenue is now only 11 months, compared to 15 months for previous SaaS models. However, analysts caution about the high costs associated with operating AI businesses, indicating a potential profit challenge despite rapid growth.

Hugging Face Surpasses 1 Million Models

Hugging Face has officially surpassed 1 million AI models listed on its platform, highlighting the rapid expansion and collaboration within the AI research community. The platform originally launched as a chatbot and evolved into a hub for AI model sharing and fine-tuning, showcasing the increasing demand for tailored AI solutions across various industries.

Weekend Longreads Suggestions

The episode wraps up with intriguing longreads, including how McDonald's touchscreen kiosks have not replaced jobs but rather created additional work dynamics, Apple's adjustments to its movie strategy in response to budget concerns, and an insightful profile of Kyla Scanlon, a rising influencer in economic analysis for Gen Z.