Lyft is cutting 13% of its workforce, the company said in a memo on its website . The company’s co-founders Logan Green and John Zimmer wrote to employees that a “probable recession sometime in the next year” and increasing rideshare insurance expenses were significant hurdles the company was facing. The news was first reported by The Wall Street Journal . The company also said it would seek to...
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AI Startups Are Facing a Reckoning
A reckoning may be coming for once-hot artificial intelligence startups. Among the most vulnerable: consumer apps (think Character.AI) and “thin wrapper” startups like CopyAI that merely provide a nice user interface on top of a third-party model from model developers like OpenAI. We got a sense of the slowdown last week, when Natasha and I reported that Jasper, an early generative AI...
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