OpenAI strikes Reddit

Plus: TikTok tests 60-minute video

Today's sponsor

In Today’s Edition 

  • The Business Case for Longevity 

  • OpenAI strikes Reddit deal to train its AI on your posts 

  • TikTok tests 60-minute video uploads as it continues to take on YouTube 

  • The Longest Clinical Trial Yet Of Blockbuster Weight Loss Drug Wegovy Reveals Significant Side Effects

Become your own CFO

Forecasting your startup growth and runway is your CFO’s job… when you can afford one.

Our 1-week LIVE workshop teaches you to,

  • Keep track of your runway.

  • Forecast customer growth

  • Budgeting rounds of funding

🚀Startups Nuts

Extending human health and life span has the potential to significantly increase returns across many industries by keeping customers alive and healthy for longer periods. Investing in longevity research and treatments could not only save trillions in healthcare costs but also create immense economic value by expanding future markets in various sectors such as education, travel, health, and entertainment.

Other News

  • Top venture capital firms have generated 3x returns in ideal macroeconomic conditions, but crypto VC has drastically outperformed even the best traditional firms.

  • Ubiquity Bio, a drug startup, raised $300 million

  • Restaurant365, a restaurant management software provider, raised $175 million

  • Weka, a data platform, raised $140 million

  • Alkira, a cloud connectivity company, raised $100 million

🏭Business Nuts 

OpenAI has signed a deal that will grant it access to real-time content from Reddit's data API. The deal will allow OpenAI to surface discussions from Reddit within ChatGPT and other products and enable Reddit to bring new AI-powered features to users and mods. OpenAI has also signed up to become an advertising partner on Reddit. It is unclear what the financial terms of the deal are and whether it involves access to training data.

Other News

  • The EU launched an investigation examining if Meta is in violation of its Digital Services Act specifically, whether its apps protect the safety and privacy of children.

  • McDonald’s has an unexpected new McFlurry flavor: Grandma. The chain is introducing a limited-edition Grandma McFlurry on May 21 that combines vanilla ice cream and syrup with candy pieces like the ones that littered the bottom of grandma’s purse.

  • Under Armour, in a prolonged period of awfulness, isn’t shaking its misery anytime soon, the sportswear brand warned sales would be down 10%+ this year with more layoffs ahead.

  • Wayfair will open its first brick-and-mortar store in the Chicago area, with CEO Niraj Shah acknowledging many customers prefer seeing and feeling furniture in person before making a purchase.

  • Walmart on Thursday topped quarterly earnings and revenue expectations, as the discounter made significant e-commerce gains, drove profits with newer businesses like advertising and won over more high-income shoppers. 

  • The Dow Jones Industrial Average briefly surpassed 40,000 points for the first time yesterday on news of strong quarterly earnings from Walmart before ending the day down 0.1%, at 39,869.4 points.

📱Tech Nuts

A limited group of TikTok users in select markets are now able to upload 60-minute videos onto the platform. The feature marks a shift from TikTok's original format. While the company rose to popularity due to its short-form video format, it has been slowly embracing long-form content to compete with YouTube. The platform has also been testing a horizontal full-screen mode and video-scrubbing thumbnails. It is unclear if or when TikTok plans to launch the 60-minute video upload option widely

Other News

  • Maven is the newest social network in town and it aims to offer a healthier alternative to traditional social media. The platform foregoes likes and follows in favor for a personalized user feed.

  • Sony Music Group (SMG) has sent letters to over 700 tech companies—Google, Microsoft, and OpenAI are thought to be among the 700 recipients—and music streaming services warning them not to use its music to train AI models, without permission

🔥Newsletter Spotlight

The Send & Grow newsletter

Join thousands of publishers who rely on our 5min weekly digest to improve their newsletter growth.

🎁Miscellaneous

A study on semaglutide that assessed around 17,600 adults in multiple countries from 2018 to 2021 found that participants lost an average of 10% of their body weight. 17% of the participants left the trial due to side effects that included nausea, diarrhea, vomiting, and constipation, which were most often felt during the initial months of treatment. The drug reduced major cardiovascular events by 20% - this effect was evident even in participants who didn't lose weight. The study suggests the drug could be potentially used for other purposes and could help make a case for more widespread insurance.

💡What else are we reading and seeing?

🔥 Few tools many people are finding useful

  • Aiter is for generating advertising strategies and adverts

  • Chatbit is for integrating AI chatbots into websites

  • Flowpoint provides data-driven website analysis

  • ContentPie is for AI-powered content creation

  • Memory Lane is for creating AI-powered stories

🐦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.