Apple New CEO

Plus: Google's business is growing at its fastest rate in two years

Author

Cash Nut
May 09, 2024

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In Today’s Edition 

  • Does Investor Choice Actually Matter for Startup Success?

  • John Ternus emerging as the most likely successor to Tim Cook as Apple CEO 

  • Google's business is growing at its fastest rate in two years

  • Reddit’s first quarterly earnings report went well

  • Stack Overflow suspends user for editing posts in OpenAI protest

  • Why Is Everyone Suddenly Furious About AI Regulation? 

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🚀Startups Nuts

The average startup's value increases with the lead investor's equity share, up to an ownership stake (upon conversion) of 15%. Higher quality VCs and founders secure more favorable terms, but not all VCs are equal. Pick investors that align with your strengths and can add value beyond just capital. The choice is critical and permanent, impacting the startup's trajectory. While not definitive, this article provides a scientific basis for making an informed investor selection.

Other News

  • Wiz, a cloud security firm, raised $1 billion 

  • Atlan, an AI governance startup, raised $105 million

  • Meati Foods, a mushroom-based foods maker, raised $100 million 

  • Legion Technologies, a workforce management software provider, raised $50 million

🏭Business Nuts 

Apple CEO Tim Cook, who has held the title since 2011, turns 64 this year. While there is no reason to assume that a change at the helm is imminent, there are multiple possibilities for who may eventually take over. Apple's board will likely want someone who will stick around for at least a decade. This makes 49-year-old John Ternus, Apple's Senior Vice President of Hardware Engineering, the most likely successor.

Other News

  • Tesla had 3,400 job postings across the US, Mexico, Canada, and Puerto Rico on May 1, but it has since removed almost all of them. The bulk of the positions were in California, Texas, and Nevada, where the company has its gigafactories.

  • Google's business is growing at its fastest rate in two years, but the performance isn't translating to higher pay for employees. Employees questioned the company's plans to address a significant decline in morale, increased distrust, and a disconnect between leadership and the workforce during an all-hands meeting last week.

  • Microsoft will construct a $3B AI data center in Racine, Wisconsin, company president Brad Smith announced yesterday. It's the latest billion-dollar investment in AI infrastructure as tech companies look to keep up with surging demand.

  • FTX said this week it has recovered enough funds to repay defrauded investors in full and provide the vast majority with interest. The failed cryptocurrency exchange platform filed its proposal late Tuesday to a federal bankruptcy court for approval.

  • Airbnb shares fall 8% in after-hours trading on weaker Q2 forecast.

  • Robinhood shares rise over 3% in after-hours trading on better-than-expected Q1 earnings and revenue.

📱Tech Nuts

OpenAI and Stack Overflow's recent partnership announcement has raised concerns for some users that their data is being used without permission. Some users who wanted to delete their answers have had their accounts suspended. The site does not generally allow the deletion of posts if the questions have any answers. Stack Overflow moderators say that it doesn't allow users to remove posts as they hurt the company as a whole. While the GDPR gives users in the EU the right to be forgotten, websites have a right not to delete data if it doesn't contain identifiable information to prevent the flow of a topic or question from being disrupted.

Other News

  • Google DeepMind's AlphaFold 3 can predict the structure of all of life's molecules. Previous versions of the model could only predict the structures of proteins. AlphaFold 3 can model DNA, RNA, and ligands. It shows a 50% improvement in prediction accuracy compared to its previous models.

  • Neuralink encountered a problem with the implant in its first human patient that reduced the amount of data the device could capture from his brain. Some of the implant's threads have come out. Neuralink has not disclosed the reasons why the threads retracted unexpectedly.

  • Red Hat announced several new initiatives to bring enterprise-grade AI capabilities to their customers.

  • Reddit’s first quarterly earnings report went well, highlighted by its increased user base and better-than-expected revenue numbers. The company still posted a $575m loss, though.

  • Amazon Prime Video ads will now include pauseable shoppable carousels and brand trivia. Sounds annoying, but we still hope the Fallout ads are for Nuka-Co.

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Fit Life

How to Lose 20 Pounds of Fat in 30 Days (Without Doing Any Exercise)

🎁Miscellaneous

If California's Senate Bill 1047 passes, it will require the companies behind the world's largest, most advanced AI models to take steps to guarantee their safety before releasing the models to the public. Despite being a piece of state legislation, the bill has unusual international importance, as most of the companies making such models are headquartered in the state. This article looks over the bill and responds to some of the most serious misconceptions. It also suggests concrete changes that address some of the real concerns.

💡What else are we reading and seeing?

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