Coinbase cuts 20%, Microsoft to invest $10B into OpenAI & Ascend Elements CEO Mike O’Kronley | E1654
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 10 January 2023
⏱️ 95 minutes
🧾️ Download transcript
Summary
Molly and Jason discuss the news that Coinbase is doing another 20% RIF. (6:50) Then they discuss the announcement that Microsoft is investing $10B into OpenAI with some pretty favourable terms. (27:19) After, Molly and Jason chat about Make Sunsets’ plan to cool the planet and Enpal, a German solar panel company raising money at a $2.4B valuation. (46:56) Then we wrap with this year’s first edition of TWiCS featuring Mike O’Kronley, CEO of Ascend Elements. (1:00:56)
(0:00) M+J kick off the show
(2:10) Atmospheric rivers and the chaos in California
(6:50) Coinbase does another 20% RIF
(11:56) Vanta - Get $1000 off your SOC 2 at https://vanta.com/twist
(13:03) The future of employment in tech
(21:50) Mixpanel - Apply for $50K in credits at https://mixpanel.com/startups
(23:16) The perfect amount of founders
(27:19) Microsoft is invests $10B into OpenAI
(32:46) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST
(34:10) OpenAI going from a non-profit to a for-profit + What is roundtripping?
(46:56) Make Sunsets raises $750K to do what?!
(53:05) Enpal raises at a $2.4B valuation
(1:00:56) TWiCS: Mike O’Kronley of Ascend Elements
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FOLLOW Molly: https://twitter.com/mollywood
Transcript
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| 0:00.0 | Hey, everybody, welcome back. |
| 0:00.9 | It is Tuesday. |
| 0:01.8 | We have a big show for you. |
| 0:03.8 | First up in the bed, it's the end of the world here |
| 0:07.8 | in the Bay Area monsoon season has hit. |
| 0:11.3 | We've got atmospheric rivers and cyclone bombs |
| 0:14.5 | and the continuation of the Rift Train Coinbase |
| 0:18.7 | is on a second major riff, 18% the first time. |
| 0:21.1 | Now they're doing 20%. |
| 0:22.0 | We'll talk about that. |
| 0:23.1 | Yeah, the crypto winter is real. |
| 0:24.7 | Then we're going to break down the latest |
| 0:26.1 | in the Microsoft Open AI relationship. |
| 0:28.7 | Satyan Nadella is either the greatest CEO in tech |
| 0:31.4 | or I have a very contrary intake on Open AI. |
| 0:36.4 | Yeah. |
| 0:37.1 | And very interesting to think about the relationship |
| 0:40.8 | between Azure and the billions of dollars Open AI. |
| 0:45.0 | It's apparently spending on cloud computing |
| 0:46.9 | with Microsoft. |
| 0:47.6 | We'll talk about round tripping and some of the back channel |
| 0:50.8 | there, you know what they say here in Silicon Valley, |
... |
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