Hello and welcome back to Equity, the Tech Runch Podcast, where we unpack the numbers and the nuance behind the headlines.

This is Alex and today is March 6, 2024.

This is our Wednesday show where we dig into the critical startup and venture capital stories from the week thus far.

On the show today we have Open AI's latest legal drama, Monzo's new mega round, an AI

startup that we have our ion that you haven't heard of, Accenture buying Udacity,

a regulatory ruling coming later today that could have a big startup impact,

and in the Venture Corner, we'll close with the latest news on Open View Partners unwinding.

Let's go.

We're going to start with Open AI, the most valuable AI startup in the world today

because it intends to try to dismiss all claims made by Elon Musk's recent

lawsuit. And Open AI argued that the billionaire entrepreneur who was involved in the company's co-founding didn't have that much impact on its development or success.

In a blog post that included copies of several partially redacted emails,

Open AIs that that Musk only provided about $45 million

to it, despite higher initial commits,

and that once the company realized

it was going to need billions and billions and

billions of dollars and thus would require a for-profit arm, Musk tried to become the

for-profit arm's CEO and, variously, hold the majority of equity and, quote, initial board control.

Open AI, quote, couldn't agree to terms on a for-profit with Elon because we felt it was against the mission for any individual to have absolute for Tech Ranch notes is that the ChatGPT maker had breached its original contractual

agreements by pursuing profits instead of the non-profits founding mission to develop

AI that benefits humanity.

Now, this is a startup story several times over.

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