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Equity

Catching up on OpenAI’s wild weekend

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 20 November 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

Listen here or wherever you get your podcasts. Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Our Monday show covers the latest in tech news from the weekend and what’s making headlines early in the week. This past weekend was all about the massive shakeup at OpenAI, and the high-impact machinations that the last few days brought. We discussed the following: The timeline that brought us to today regarding OpenAI, from the firing of Sam Altman through all the recent activity. The latest, including Emmett Shear being appointed interim CEO of Open AI, Sam Altman and others heading to Microsoft, and a seeming recantation of everything that happened by Ilya Sutskever at OpenAI. The situation remains far from settled, but you only have to stick close to TechCrunch to stay updated. The above podcast is going to age quickly, so we may have extra episodes in the coming days. For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:17.0

Hello and welcome back to Equity, the Tech Runch Podcast, where we unpacked the numbers and the nuance behind the headlines. This is Alex, good morning, happy Monday, I hope that you're doing well.

0:21.0

Today is November 20th, 2023 and look guys we did not have a normal

0:26.6

weekend so we are not going to have a normal show. Today first some very short updates on the state of markets because I can't let you not know what's going on there and then a catch-up on all things open AI

0:39.2

This will include a quick timeline to catch you up on the latest, the current state of play,

0:44.4

winners and losers, and then finally, the political divide in tech that is

0:49.2

showing up brightly in the realm of artificial intelligence.

0:52.6

Let's go.

0:53.6

We start as we always do with a look at the world of money and that means the stock market.

1:01.6

Shares are mixed today in Asia,

1:03.9

with Japanese equities as the outlier to the negative.

1:07.4

Shares are mostly lower in Europe

1:09.4

and are all but flat in pre-market trading

1:11.8

here in the US. Now one company in particular we have

1:15.5

our eye on that's Microsoft lost value on Friday but is up today in pre-market

1:21.4

trading which matters as you'll see later in the show.

1:24.5

Earnings this week it is pretty light on Monday we will hear from Zoom.

1:29.0

Tuesday brings us in video by do HBQ IYI, and then Thursday brings us Neo, and that's it.

1:37.0

Turning to crypto, not that much to report thankfully, we are seeing muted price movement in the last seven days and trading volume has peaked

1:46.1

and is once again falling. In short, the recent reflation of crypto spot trading volumes

1:51.5

that did not reach highesting prior in this year is now behind us.

1:55.2

Of course we had tracked a rise in trading volumes and even in FT activity.

2:00.1

Of course that was never going to go up forever.

...

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