The Information

Sam Altman in Tokyo in April. Photo by AP

OpenAI’s Losses Doubled to $540 Million as It Developed ChatGPT

By Erin Woo and Amir Efrati · May 4, 2023 1:11pm PDT · 9 comments

OpenAI’s losses roughly doubled to around $540 million last year as it developed ChatGPT and hired key employees from Google, according to three people with knowledge of the startup’s financials. The previously unreported figure reflects the steep costs of training its machine-learning models during the period before it started... OpenAI’s losses roughly doubled to around $540 million last year as it developed ChatGPT...

Art by Mike Sullivan.

Nearly Half of YouTube’s U.S. Viewership Is Now on TVs, Helping Drive Ad Shift

By Sahil Patel · May 4, 2023 7:00am PDT · 8 comments

For years, Google’s YouTube couldn’t get any respect from the TV industry. TV marketers wouldn’t go near it out of fear that their ads would be tainted by running alongside YouTube’s amateur content. And analysts and research firms treated the streaming service as separate from the rest of television when analyzing TV... For years, Google’s YouTube couldn’t get any respect from the TV industry. TV...

Klaviyo CEO Andrew Bialecki. Photo by Getty.

IPO Hopeful Klaviyo Tries to Prove There’s More to Life Than Shopify

By Ann Gehan and Cory Weinberg · May 4, 2023 6:00am PDT · 2 comments

For years, Klaviyo’s best partner was e-commerce giant Shopify. Now, as the marketing software firm once valued at $9.5 billion gears up for an initial public offering, it’s looking to make new friends. Most of the 110,000-plus merchants paying for the company’s software are e-commerce sellers who host their sites on Shopify.... For years, Klaviyo’s best partner was e-commerce giant Shopify. Now, as the marketing...

Ryan Williams, CEO of Cadre. Photo by Bloomberg.

Faded Hype for Real Estate Tech Leaves Cadre, Others Scrambling

By Maria Heeter and Cory Weinberg · May 3, 2023 6:00am PDT · 6 comments

Ryan Williams, CEO of Cadre. Photo by Bloomberg.

Faded Hype for Real Estate Tech Leaves Cadre, Others Scrambling

By Maria Heeter and Cory Weinberg · May 3, 2023 6:00am PDT · 6 comments

A flock of big-name investors—Andreessen Horowitz, Thrive Capital, Founders Fund and even Jack Ma and George Soros—piled into Cadre six years ago at an $800 million valuation, seeing potential in its promise to bring commercial real estate investing to the masses. The company, co-founded by Jared Kushner and former Blackstone... A flock of big-name investors—Andreessen Horowitz, Thrive Capital, Founders Fund and even...

Photo by Bloomberg

Scared of Leaking Data to ChatGPT? Microsoft Tests a Private Alternative

By Aaron Holmes and Jon Victor · May 2, 2023 6:00am PDT · 3 comments

Not everyone trusts OpenAI’s ChatGPT. While the new artificial intelligence–powered chatbot has proved popular with some businesses looking to automate business tasks, other companies, such as banks, have avoided adopting ChatGPT for fear that their employees would inadvertently give the chatbot proprietary information when they use... Not everyone trusts OpenAI’s ChatGPT. While the new artificial intelligence–powered...

Art by Mike Sullivan.

TikTok Is Developing AI-Generated Video Disclosures as Deepfakes Rise

By Kaya Yurieff · May 1, 2023 11:28am PDT

Some viral TikTok videos may soon show a new type of label: that it’s made by AI. The ByteDance-owned app is developing a tool for content creators to disclose they used generative artificial intelligence in making their videos, according to a person with direct knowledge of the efforts. The move comes as people increasingly turn to... Some viral TikTok videos may soon show a new type of label: that it’s made by AI. The...

IRL CEO and Co-founder Abraham Shafi. Art by Mike Sullivan

IRL’s CEO Steps Down After Allegation of Inflated User Numbers

By Mark Matousek and Amir Efrati · Apr 28, 2023 3:20pm PDT

Abraham Shafi has stepped down as CEO of messaging app IRL following allegations that the company used bots to inflate the users it reported publicly and to investors, according to a person with direct knowledge. The abrupt change happened after The Information reported a former employee alleged he was fired after expressing concern that a high... Abraham Shafi has stepped down as CEO of messaging app IRL following allegations that the company...

Photo by Getty

Sequoia Hired National Security Firm Beacon Amid Scrutiny of China Deals

By Juro Osawa, Amir Efrati and Abram Brown · Apr 28, 2023 9:12am PDT

Photo by Getty

Sequoia Hired National Security Firm Beacon Amid Scrutiny of China Deals

By Juro Osawa, Amir Efrati and Abram Brown · Apr 28, 2023 9:12am PDT

Sequoia Capital, whose Chinese affiliate became one of the biggest funders of startups in China, has been working with Washington-based national security advisory firm Beacon Global Strategies as it faces potential U.S. government restrictions on American technology investment in China, according to four people with knowledge of the situation. ... Sequoia Capital, whose Chinese affiliate became one of the biggest funders of startups in China,...

John Hegeman, VP of Monetization at Meta. Photo via Meta.

Meta Ads Boss Merges Ads and Business Messaging in New Product Group

By Sylvia Varnham O'Regan · Apr 27, 2023 11:37am PDT

Meta Platforms has combined its advertising product, business messaging and commerce departments into one division as part of a broader effort to reduce the ranks of middle management across the company. The changes, communicated internally last week by Meta’s vice president of monetization, John Hegeman, also show how closely Meta has... Meta Platforms has combined its advertising product, business messaging and commerce departments...

Art by Clark Miller.

Former IRL Employee Alleges Company Inflated User Count

By Mark Matousek · Apr 27, 2023 8:00am PDT · 1 comment

A former employee of SoftBank-backed messaging app IRL alleged in a legal filing that the company has inflated its user count and retaliated against him and other employees who raised concerns about the accuracy of its user numbers. The former employee, Nicholas Grant, made the allegations in an unfair dismissal complaint he filed with the Welsh... A former employee of SoftBank-backed messaging app IRL alleged in a legal filing that the company...

Elon Musk. Photo by Bloomberg.

Tesla Replaces South Korea Chief as Musk Meets With Head of State

By Becky Peterson · Apr 27, 2023 7:07am PDT

Tesla is shaking up its top leadership in South Korea just one day after CEO Elon Musk met with South Korea’s president to discuss further investment in the country. Yvonne Chan, a regional director for Tesla’s business in Thailand and Taiwan and close deputy to Tesla automotive head Tom Zhu, has added South Korea business to her... Tesla is shaking up its top leadership in South Korea just one day after CEO Elon Musk met with...

Apple's John Giannandrea. Photo by Getty

Apple’s AI Chief Struggles With Turf Wars as New Era Begins

By Wayne Ma · Apr 27, 2023 6:00am PDT · 3 comments

Apple's John Giannandrea. Photo by Getty

Apple’s AI Chief Struggles With Turf Wars as New Era Begins

By Wayne Ma · Apr 27, 2023 6:00am PDT · 3 comments

Late last year, a trio of engineers who had just helped Apple modernize its search technology began working on the type of technology underlying ChatGPT, the chatbot from OpenAI that has captivated the public since it launched last November. For Apple, there was only one problem: The engineers no longer worked there. They had left the company to... Late last year, a trio of engineers who had just helped Apple modernize its search technology...

Discord CEO Jason Citron. Photo by Getty.

Discord’s Revenue Growth Slows to 44% in 2022

By Mark Matousek · Apr 26, 2023 11:53am PDT · 5 comments

Many tech firms saw meager revenue growth, or even a decline, last year as the digital ad market stalled and businesses cut back spending on software. Messaging startup Discord was an exception. Discord, which makes money from subscription fees, lifted revenue 44% to $445 million last year, according to an internal presentation viewed by The... Many tech firms saw meager revenue growth, or even a decline, last year as the digital ad market...

Alphabet CEO Sundar Pichai. Photo via Getty

In Google Founder’s Shadow, CEO Pichai Discovered the Limits of His Power

By Jon Victor and Amir Efrati · Apr 26, 2023 6:00am PDT · 11 comments

Since Sundar Pichai became CEO of Google’s parent company, Alphabet, in 2019, he has been honest with colleagues about the difficulties of overseeing a sprawling conglomerate that’s under constant strain from internal power struggles, regulators and rebellious employees. In one example of that candor, he said in an internal meeting... Since Sundar Pichai became CEO of Google’s parent company, Alphabet, in 2019, he has been...

Meta's headquarters in Menlo Park, Calif. Photo by Getty.

Meta to Bring In Microsoft Exec to Lead Chips Effort as It Evaluates Strategy

By Sylvia Varnham O'Regan · Apr 25, 2023 11:25am PDT

Meta Platforms has hired a chip executive from Microsoft to oversee its work developing custom chips for hardware devices, according to two people familiar with the matter. The hire comes as Meta is evaluating the company’s silicon strategy, a move that could spell more layoffs. Jean Boufarhat, who currently serves as corporate vice... Meta Platforms has hired a chip executive from Microsoft to oversee its work developing...

Andy Jassy, CEO of Amazon. Photo by Bloomberg.

Amazon CEO Andy Jassy Picks Fulfillment Veteran as New ‘Shadow Adviser’

By Theo Wayt · Apr 25, 2023 10:25am PDT

Andy Jassy, CEO of Amazon. Photo by Bloomberg.

Amazon CEO Andy Jassy Picks Fulfillment Veteran as New ‘Shadow Adviser’

By Theo Wayt · Apr 25, 2023 10:25am PDT

Amazon CEO Andy Jassy has picked Eric Rimling, a 14-year veteran of the company’s fulfillment operation, as his new technical adviser, according to two people with knowledge of the appointment. The highly coveted position, which involves working directly with the CEO on a daily basis, has been a fast track to promotions for Amazon staffers... Amazon CEO Andy Jassy has picked Eric Rimling, a 14-year veteran of the company’s...

Thomas Kurian, Google Cloud CEO. Photo by Bloomberg.

Google’s Cloud Unit Gains Key AI Chip Team to Compete With Microsoft

By Anissa Gardizy and Amir Efrati · Apr 23, 2023 7:00am PDT · 1 comment

Google has moved the engineering team responsible for making artificial intelligence chips into Google Cloud, a spokesperson confirmed, in a step that could make the cloud unit more competitive with its bigger rivals, Microsoft and Amazon Web Services, in selling AI-powered software to businesses. The move is the latest sign of how Google is... Google has moved the engineering team responsible for making artificial intelligence chips into...

Art by Mike Sullivan.

Tiger Global Management’s $12.7 Billion Venture Fund Records 20% Loss

By Erin Woo · Apr 20, 2023 6:00am PDT · 2 comments

Tiger Global Management’s $12.7 billion venture fund, launched near the peak of the tech stock boom in October 2021, gave the New York hedge fund firepower to back hundreds of startups in under two years. Now the mammoth fund is bearing testimony to the bruising correction in private tech valuations that followed. Tiger has told investors... Tiger Global Management’s $12.7 billion venture fund, launched near the peak of the tech...

Igor Babuschkin and Elon Musk. Photos via TU Dortmund and Wikimedia.

Musk’s Leader for OpenAI Rival Was Recently Arrested for Domestic Violence

By Jon Victor · Apr 19, 2023 3:14pm PDT · 17 comments

Police in northern California last month arrested Igor Babuschkin, Elon Musk’s first known hire for a new company that aims to compete with artificial intelligence startup OpenAI, for domestic battery, public records show. A representative for the Santa Clara County District Attorney’s office, Lisa Buuck, said the office had... Police in northern California last month arrested Igor Babuschkin, Elon Musk’s first known...

SeatGeek CEO Jack Groetzinger speaks to Senators during a hearing that revolved around rival Ticketmaster's competitive practices earlier this year. Photo by Bloomberg.

SeatGeek Files Confidentially for IPO

By Cory Weinberg · Apr 19, 2023 12:34pm PDT

SeatGeek CEO Jack Groetzinger speaks to Senators during a hearing that revolved around rival Ticketmaster's competitive practices earlier this year. Photo by Bloomberg.

SeatGeek Files Confidentially for IPO

By Cory Weinberg · Apr 19, 2023 12:34pm PDT

Event ticketing company SeatGeek filed confidentially with regulators this month for an initial public offering, people familiar with the matter said, adding itself to a long list of firms aiming for IPOs once market conditions improve. Event ticketing company SeatGeek filed confidentially with regulators this month for an initial...