00:10 | OpenAI hits $2b in run rate revenue
- $0 to $2b revenue in only 1 year
- Google 5 yrs to reach $1b in revenue, Meta 6 years
- 92% of Fortune 500 use OpenAI
- 100m weekly users
- 18,000 OpenAI customers through Microsoft Azure
- OpenAI currently raising a primary round at $100b valuation
01:16 | OpenAI launches Google Search competitor
- Search partnership with Microsoft Bing
- Goal is faster response times
- Perplexity AI also competing in AI search; $100m raise at $520m valuation
- Bing generates $18b in annual revenue, Google Search $150b
02:18 | OpenAI launches Hollywood movie/tv killer
- OpenAI Sora creates 60-second highly realistic videos from text prompts
- Potential to be massively disruptive to movie and tv industries
- Directors and storytellers will take center stage vs actors in the future?
03:34 | Canva CFO resigns ahead of IPO
- Damien Singh resigns
- IPO expected in 2025
- New CFO will have experience scaling companies
- Stripe, StubHub, Plaid all replaced CFOs recently and are also primed for an IPO
- $2b in revenue, profitable since 2017, 165m monthly users
- $1.5b tender offer in process at $26b valuation
04:29 | X and MrBeast ad partnership
- MrBeast video on X generated 156m impressions last week driving ad revenue
- X puts ads at beginning of video for selected creators, like MrBeast
- 80,000 users participating in new ad program
- X posted an internal valuation in Q4 2023 at $19b; a 57% decrease from Elon Musk’s purchase price
05:09 | X locks sports betting deal with BetMGM
- BetMGM is exclusive live odds sports betting partner for X
- X users can bet directly on X platform
- X aims to be the “everything app”, more than just social media
05:46 | Musk’s SpaceX and Neuralink leave Delaware
- SpaceX moved to Texax, Neuralink moved to Nevada
- Delaware court invalidated Musk’s $55.8b Tesla compensation package after independent board and individual shareholders voted to approve in 2018
06:47 | Pre-IPO -0.83% for week, +1.46% for last 1yr
- Week winners: Epic Games +8.68%, Anduril +0.95%, OpenAI +0.80%, Snyk +0.70%, Klarna +0.70%
- Week losers: Flexport -17.39%, Anthropic -7.75%, Hugging Face -3.50%, SpaceX -3.09%, ByteDance -2.25%
- Top valuations: ByteDance $283b, SpaceX $181b, OpenAI $95b, Stripe $59b, Databricks $49b lead in current valuation
00:10 | OpenAI hits $2b in run rate revenue
- $0 to $2b revenue in only 1 year
- Google 5 yrs to reach $1b in revenue, Meta 6 years
- 92% of Fortune 500 use OpenAI
- 100m weekly users
- 18,000 OpenAI customers through Microsoft Azure
- OpenAI currently raising a primary round at $100b valuation
01:16 | OpenAI launches Google Search competitor
- Search partnership with Microsoft Bing
- Goal is faster response times
- Perplexity AI also competing in AI search; $100m raise at $520m valuation
- Bing generates $18b in annual revenue, Google Search $150b
02:18 | OpenAI launches Hollywood movie/tv killer
- OpenAI Sora creates 60-second highly realistic videos from text prompts
- Potential to be massively disruptive to movie and tv industries
- Directors and storytellers will take center stage vs actors in the future?
03:34 | Canva CFO resigns ahead of IPO
- Damien Singh resigns
- IPO expected in 2025
- New CFO will have experience scaling companies
- Stripe, StubHub, Plaid all replaced CFOs recently and are also primed for an IPO
- $2b in revenue, profitable since 2017, 165m monthly users
- $1.5b tender offer in process at $26b valuation
04:29 | X and MrBeast ad partnership
- MrBeast video on X generated 156m impressions last week driving ad revenue
- X puts ads at beginning of video for selected creators, like MrBeast
- 80,000 users participating in new ad program
- X posted an internal valuation in Q4 2023 at $19b; a 57% decrease from Elon Musk’s purchase price
05:09 | X locks sports betting deal with BetMGM
- BetMGM is exclusive live odds sports betting partner for X
- X users can bet directly on X platform
- X aims to be the “everything app”, more than just social media
05:46 | Musk’s SpaceX and Neuralink leave Delaware
- SpaceX moved to Texax, Neuralink moved to Nevada
- Delaware court invalidated Musk’s $55.8b Tesla compensation package after independent board and individual shareholders voted to approve in 2018
06:47 | Pre-IPO -0.83% for week, +1.46% for last 1yr
- Week winners: Epic Games +8.68%, Anduril +0.95%, OpenAI +0.80%, Snyk +0.70%, Klarna +0.70%
- Week losers: Flexport -17.39%, Anthropic -7.75%, Hugging Face -3.50%, SpaceX -3.09%, ByteDance -2.25%
- Top valuations: ByteDance $283b, SpaceX $181b, OpenAI $95b, Stripe $59b, Databricks $49b lead in current valuation