Ilya Sutskever's new AI venture, and time to BeReal about bankruptcy | Equity Podcast

08 Jul 2024 (4 months ago)

Autonomous Driving

Wobby, founded by Raquel Urtasun, raised $200 million for its autonomous trucking approach using generative AI and neural networks, requiring less computation and data.

Ilya Sutskever, former co-founder of OpenAI, launched Safe Super Intelligence to build a safe super intelligence or general AI, prioritizing safety.
Critics argue that inherent safety in AGI is challenging due to potential self-awareness and self-preservation instincts.
Sutskever's expertise and high-profile co-founders attract attention to the company's goals.
The definition of "safe" in the context of AGI remains unclear and varies among experts.
OpenAI's undisclosed valuation and vague safety measures raise concerns.
Former OpenAI executives' departures for new ventures spark speculation about internal issues.

Ginger, a fintech company, offers buy now pay later options for technology purchases, collaborating with buyers and sellers.
Ginger's partnerships with large vendors like AWS, Oracle, and Salesforce provide a competitive advantage.
The global tech spend is projected to reach $4.7 trillion in 2024, presenting a substantial market opportunity for Ginger.
Ginger generates revenue through interest on loans, loan origination fees, and interchange fees.
Competitors include Bill.com, Brex, Ramp, and invoice financing companies.
Concerns arise regarding Ginger's risk exposure due to its focus on early-stage startups and potential loan defaults.

Fisker, an EV startup, filed for bankruptcy with estimated assets of $500 million to $1 billion and liabilities of $100 million to $500 million due to poor execution and a challenging environment for EV startups.
Synapse, a banking-as-a-service startup, filed for bankruptcy after failing to sell its assets, leaving $85 million in unaccounted customer funds.
The CEO of Synapse raised $10 million for a new robotics startup while the company was in turmoil, raising questions about leadership and priorities.

BeReal, a social media startup promoting authenticity, was acquired by Voodoo, a French mobile gaming app unicorn, for $537 million despite financial struggles.
BeReal's potential for growth beyond its current 2-minute authenticity feature holds value, but the specific technology or strategy that attracted Voodoo's investment remains unclear.
Voodoo, a mobile game publisher, acquired BeReal, a social media platform, for $540 million.
BeReal has 40 million active users, resulting in a customer acquisition cost of $13 per user, which is considered reasonable.
The acquisition aims to acquire users and expand Voodoo's customer base.
Concerns arise about the potential impact of ads on BeReal's authenticity and user experience, particularly considering Google's recent testing of server-side ad injection.
The success of the acquisition hinges on Voodoo's ability to convert BeReal users into Voodoo users and monetize the platform.
Acquiring users through acquisitions is a common strategy for startups facing challenges in expanding their user base.
The acquisition represents a significant bet for Voodoo and is considered one of the larger investments in the tech industry.