- Backed Founders
- Posts
- 🚀 OpenAI’s Stock Sale
🚀 OpenAI’s Stock Sale
PLUS: Nissan & Honda Potential Merger, Klarna Stopped Hiring
Dear founder, here’s your 3-minute recap (without the fluff):
Build a data-driven AI strategy for your business.
OpenAI employees are set to receive multi-million dollar paydays from a private stock sale to SoftBank (More)
Nissan and Honda are reportedly considering a merger to form a larger entity (More)
Klarna CEO says the company has stopped hiring and is using AI to replace hundreds of employees (More)
New tools, resources, funding updates & job postings
In Partnership
Feeling lost in the AI hype? Don't waste time on irrelevant tech. Our AI strategy consulting, built for businesses like yours, will help you:
Identify Your Perfect AI Fit: Ditch the jargon and discover powerful AI tools that directly address your needs.
Effortless Implementation: Get a clear, step-by-step roadmap to bring your AI strategy to life.
Rapid Results: See real business growth in weeks, not years.
Ready to reclaim your time and unlock your business potential? Fill out the form today and let's chat about your AI future!
Want to advertise with us? Get started here.
🛠️ Tools |
100 School: Learn new tech skills such as Coding with AI, or Prompting in just 30 min a day. It's free bite-sized lessons delivered to your inbox daily.
Flick - A social media marketing platform to handle copywriting, scheduling, hashtags, and analytics.
Reword - Helps your team collaborate effectively with AI to write articles.
Typeset - An AI-powered visual content designer turn your words into impressive visuals effortlessly.
Twig - Helps to automate your customer service with AI.
Writesonic - Creates and Optimize all types of Content and leveraging trending keywords to boost your organic traffic.
Synthesia - Creates studio-quality videos with AI avatars and voiceovers in 120+ languages.
timeOS - An AI productivity companion that captures and summarizes your day, organizes all relevant information, and proactively surfaces the knowledge you need.
PixVerse - Turns your ideas into visuals with a video creation software.
Flatfile - A smart API platform for file-based data import and exchange.
đź“š Resources
Why are brand logos starting to look the same? (link)
The rise and fall of Nokia, explained (link)
Evolutionary Wealth Theory from Codie Sanchez (link)
New exciting features from OpenAI (link)
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).
đź’° FundingNscale raises $155M in Series A to expand AI operations. Albert Invent raised $22.5M to accelerate materials science innovation. | đź’Ľ Job BoardAI Sales Specialist Manager at Google (US) Staff ML Engineer at Pinterest (Remote) |
đź’Ś Etcetera
AI strategy consulting for growth
GDP per capita, by G7 country (2019-2029F)
Why aren’t electric rocket engines an option today?
25 amazing science facts that are weird, wild, and true
As Earth overheats, scientists test way to repel Sun's rays
How to make an EV tire that won’t pollute the environment
10 famous phrases that don’t mean what you think they do
How to block unwanted text messages on your smartphone
Boomerang meteorite left Earth, went to space, then came back
Yes, humans are still evolving but maybe not in the way you think
Scientists discovered metal can heal itself, and it’s as sci-fi as it sounds
🗞️ News
OpenAI’s Stock Sale
Roughly 400 current and former OpenAI employees will have the opportunity to cash out up to $10 million each in a stock sale facilitated by SoftBank. The tender offer allows eligible participants to sell shares at $210 each before the December 24 deadline. This move comes as OpenAI's valuation has surged to $157 billion.
SoftBank aims to purchase up to $1.6 billion worth of stock, enhancing its investment in the AI sector.
Nissan & Honda
Nissan shares jumped 24% following reports of a potential merger with Honda. The two automakers are considering forming a holding company and plan to sign a memorandum of understanding soon. This merger could help them compete more effectively against larger rivals like Toyota. Honda's stock, however, fell by 3% amid the news. Both companies are exploring ways to collaborate, including possibly integrating Mitsubishi Motors into the new structure.
Klarna Stopped Hiring
Klarna has halted all hiring for the past year as it shifts to artificial intelligence to replace hundreds of jobs. CEO Sebastian Siemiatkowski reported a 22% reduction in workforce to 3,500 employees primarily due to attrition. The company now employs around 200 individuals utilizing AI for core tasks. Despite lower payroll costs, Siemiatkowski assures employees they will benefit from productivity gains through increased salaries. Klarna aims to enhance efficiency with AI while pursuing its goal of becoming a bank in the US.
That’s it for now!
Hope you enjoyed this week’s edition! See you next week.
If you have a second, I’d appreciate it if you left a rating for this email (1-5, 5 being the best).