This week were huge shifts in the tech landscape. OpenAI recently announced a major restructuring plan in response to the criticism of regulators and investors. Sam Altman, the CEO of OpenAI, stated that this decision follows constructive discussions with civic leaders and the offices of the Attorney General in Delaware and California. The strategy focuses on improving governance and headquarters operations. This will allow the company to better fulfill its growing duties overseeing the rapidly developing artificial intelligence space.
The new structure could appease stakeholders who have poured billions into OpenAI. In the last few years, this company has become a magnet for attention and funding. A key aspect of the Altman era has been his focus on navigating a changing regulatory environment, all while keeping the company’s startup spirit alive.
In furtherance of this shift, OpenAI previously announced an overhaul of its board on September 12, bringing Simo on as a new board member. Altman was very optimistic about Simo’s ability to scale traditional company functions. He says that Simo’s experience will be invaluable as OpenAI opens up new lines of business.
Meanwhile, Bill Gates, co-founder of Microsoft and philanthropist, revealed that the Gates Foundation is under pressure to utilize its substantial $107 billion fortune. Gates responded that the foundation has only 20 years to spend down its money and shut down. Along with that, he doubled-down on his plan to donate 99% of his fortune, underscoring a more targeted philanthropic strategy.
In yet another major move, Meta has recently started testing video ads on its platform Threads. They timed this announcement to coincide with the NewFronts conference. Even industry expert Maxwell Zeff, whose company Optico has been deeply involved in the user experience, objected. He speculated about the effects on Meta’s platforms, which are already bombarded with generative AI content.
“It’s an open question as to what AI ad testing will do to Meta’s platforms from a user experience point of view, considering they’re already brimming with generative AI slop.” – Maxwell Zeff
Currently at 11x, CEO Hasan Sukkar announced he would be resigning. He will step down from the executive role into that of non-executive chairman. This transition comes amid scrutiny over 11x’s marketing practices, as the company had displayed logos of former customers on its website, raising questions about its current client base.
In the food tech space, Posha made waves with a new robot that cooks meals for its users. This innovation is significant, as it is emblematic of a broader force—automation and convenience—that is taking aim at the culinary world.
Instacart experienced leadership changes, marking a shift in strategy as it looks to adapt to the evolving grocery delivery market. The special circumstances surrounding this executive upheaval have continued to be a topic of interest among industry observers.
Last but definitely not least, the tech community is looking forward to a special TCT event happening on June 5 in Berkeley, CA. In our regards, Karyne Levy has taken over as the new ringleader at TechCrunch. She was the inaugural deputy managing editor at Protocol, where she helped create and lead conversations around new technologies and innovations.
