⏳ OpenAI’s Future Product Strategy

PLUS: A $10B bootstrapped company, Importance of International markets

November 01, 2023

Dear founder, here’s your 3-minute recap (without the fluff):

  • WhatsApp experiments with AI chatbots for instant user support.

  • WeWork's looming bankruptcy questions the sustainability of flexible office spaces.

  • Meta's record profits come with a caution flag for ad revenue stability.

  • New Tools, Funding Updates & Job Postings

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🗞️ News 

AI in WhatsApp

WhatsApp is testing a new AI chatbot support feature to provide faster and more instant solutions to users' issues. The feature is still in beta testing, but it could be a valuable tool.

WeWork Contemplates Bankruptcy, Casting Doubt on Flexible Office Spaces

WeWork, once the poster child for the future of office spaces, is considering filing for bankruptcy. This development underscores the volatility in the office-sharing market and serves as a cautionary tale for businesses relying on flexible workspace solutions. Given the rise of remote work, now may be the time for leaders to reconsider long-term office strategies and explore alternative options.

Meta Reports Record Profits but Warns of Softening Ad Demand

Meta experienced its most profitable quarter ever with $34.1 billion in sales and a 24% YoY increase in ad sales. However, the company cautioned about potential downturns in its core advertising business, linked to geopolitical tensions. For us, this serves as a mixed signal; while Meta's advertising platform seems strong, the cautionary note suggests a need for diversification in digital ad strategies.

💎 Insights 

Here are the 4 gems from the week:

  1. 💡 OpenAI’s future product strategy

What OpenAI (the company behind ChatGPT) would like to do:

  • Uploading diverse content and integrating with services like Gmail and Slack.

  • Persistent memory, customizable personalities, and varied response modes (text, voice, images).

  • Targeting response times under 50ms for a more human-like interaction.

  • Focus on reducing non-factual errors and hallucinations in responses.

  • Working towards decreased question rejection and improved quality control.

  1. 💡 A $10B bootstrapped company

Would you believe it?

Midjourney, a thriving $10 billion AI company, has achieved this incredible feat without ever raising a single dollar in capital!

Here’s how:

  1. 💡 Importance of International markets

  1. 💡 ChatGPT’s big update

Now, you should be able to use tools like advanced analysis and DALL•E without switching settings!

It makes things so much easier.

PS. If you’re interested in this AI stuff, you should sign up for our other newsletter - Prompts Daily. It has 100,000+ readers (Executives, VCs, and engineers). Sign up with one click.

💰 Funding

Shield AI raises $200M to scale military autonomous flying tech (link)

Sprout bags £5.4M to grow its AI insurance claims (link)

💼 Job Board

Director, Category Leadership at McCain (US)

AI/ML Engineer at Whatfix (US)

That’s it for now!

Hope you enjoyed this week’s edition! See you next week.

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