In partnership with

In Today’s Edition 

• OpenAI ex-employees worry about company's control over their millions of dollars in shares

• The Vote on Elon Musk's $46 Billion Pay Package Is Coming Down to the Wire 

• General Motors announced board approval for a new $6B stock buyback plan

• Raspberry Pi IPO’d on the London Stock Exchange yesterday

• Oracle Java police start knocking on Fortune 200's doors for first time 

• Apple announced that iPhones will soon support texting via satellite

• An experimental Alzheimer's drug outperforms one just approved by the FDA 

Oh Sh*t You’re a Grown Up

Life comes at you fast. Suddenly you’re being quizzed on things like 529 plans and backdoor Roth IRAs. It’s time to step up and be responsible with your money and financial goals. But unlike 2 AM feeds - you don’t have to be in this alone.

Advisor.com lets you compare expert financial advisors and select a vetted fiduciary to handle your investing. They evaluate credentials, client reviews, and an advisor’s overall experience to make sure you are in good hands.

Find your family’s match today.

🚀Startups Nuts

OpenAI ex-employees worry about company's control over their millions of dollars in shares 

Many of OpenAI's early employees are sitting on millions of dollars worth of equity. The only way for them to realize any value from this equity in the near term is through secondary stock sales. OpenAI has told employees that it will try to hold one tender offer roughly every year depending on how both the company and the market are faring at the time. Current and former employees are increasingly concerned about access to liquidity after reports that the company has the power to claw back vested equity. The company has used aggressive tactics to get employees to sign exit agreements that affect the future of their stock holdings.

Other News

• AlphaSense, a New York market intelligence and search platform, raised $650m at a $4b valuation

• FLO, a Canadian EV charging network operator, raised C$136m in Series E funding

• Alzheon, a Framingham, Mass., drugmaker focused on Alzheimer's disease, raised $100m in Series E funding

• Apex, an off-the-shelf satellite bus business, raised $95m

• Cyberhaven, a San Jose, Calif., data security startup, raised $88m in Series C funding

• Mad Mobile, a Tampa, Fla., provider of restaurant and retail payment SaaS, raised $50m

• Regard, an LA developer of tools to help medical providers synthesize patient data, raised $30m in Series B 

🏭Business Nuts 

The Vote on Elon Musk's $46 Billion Pay Package Is Coming Down to the Wire 

The vote on Elon Musk's $46 billion Tesla pay package is still too close to call. Shareholders are expected to finish voting on Thursday. Musk has been personally campaigning for the vote, even attending meetings with some large investors that he usually skips. To incentivize voting, Tesla has been offering a raffle for a chance of a tour of its Texas production plant with Musk. It launched a video with voting instructions last week that featured its Optimus humanoid robot.

Other News

• Mistral AI is very good at raising funds: The French AI startup added ~$640m in Series B funding and is now valued at $6B. This is the same company that raised a $113m seed round last year before it even had a product.

• General Motors announced board approval for a new $6B stock buyback plan. The move comes as a $10B share repurchase program launched in 2023 is expected to be completed this month.

• Raspberry Pi IPO’d on the London Stock Exchange yesterday at a ~$690m valuation, with shares available to institutional investors; retail investors can start trading on Friday.

• Apple’s AI announcement landed well on Wall Street: Its shares hit a new record high on Tuesday. Analysts now expect Siri on steroids will “accelerate device replacement cycles.”

• Paramount ended talks with media conglomerate Skydance just days after the two companies had reportedly agreed on a merger deal. The company has promised to cut $500 million from its budget as it continues to seek a partner.

📱Tech Nuts

Oracle Java police start knocking on Fortune 200's doors for first time 

Oracle has dispatched Java audit letters to Fortune 200 companies for the first time. The company announced a new licensing regime in January 2023 that was two to five times more expensive for businesses with limited Java use. Companies should be wary, evaluate their positions, and only pay for Java where necessary. Signing up for a long-term agreement may hold customers hostage to fortune when it comes to renewal.

Other News

• Apple announced that iPhones will soon support texting via satellite, similar to the existing emergency SOS feature.

• Adobe is updating its terms of service to assure users that their work will not be used to train artificial intelligence, following a week of customer concerns about AI training.

• NASA astronauts will embark on a 6.5-hour spacewalk during their stay at the International Space Station to collect samples of highly resilient microorganisms from the station's exterior.

• Microsoft has announced the discontinuation of GPT Builder and is giving users one month to save their data before deletion.

• Stability AI launched Stable Diffusion 3 Medium, described as its "most advanced text-to-image open model yet," featuring 2 billion parameters for photorealistic output on consumer systems.

• Waymo announced a voluntary software recall after one of its autonomous vehicles crashed into a telephone pole in Phoenix, Arizona, causing no injuries but damaging the vehicle.

🎁Miscellaneous

An experimental Alzheimer's drug outperforms one just approved by the FDA 

The experimental drug donanemab slowed the progression of Alzheimer's disease by about 35% in a study of more than 1,700 people. Eli Lilly, the company that makes the drug, has submitted the results of its study to the Food and Drug Administration, which is expected to make a decision on the drug by the end of the year. The drug is still not a cure - its benefits amount to only about a seven-month delay in the loss of memory and thinking. The drug caused dangerous swelling or bleeding in the brain in about 25% of patients.

💡What else are we reading and seeing?

• General Intelligence

• It's time to BeAcquired for €500 million

• Elephants may refer to each other by name

• The global economy is stabilizing

• Is Nvidia the next Cisco? 

• LinkedIn tests AI assistant for premium members 

• How much is that private equity investment really worth?

😎Fun Fact

On this day today, Anne Frank born (1929)

🔥 Few tools many people are finding useful

• Teamcreate - Build your dream team in minutes

• Galileo AI - Go from idea → design → code in under a minute

• Flyhomes AI - World’s first AI-powered home search (and research) portal

• Soloist - Create your website from a few simple inputs

• Summify is an AI-powered tool that summarizes YouTube videos

🐦Joke of the Day

Enjoy The Cash Nut? Consider forwarding it to a co-worker, colleague, classmate, or whoever you think might be interested. 

Advertise With us - Link

Keep an Eye on our Weekly newsletter, where we gonna share resources like Financial Models, AI tools, and much more.

That’s it from our side for today.