OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.Mine, a financial planning and credit card company targeting Gen Z, has secured $14 million in a Series A funding round led by 359 Capital, with participation from existing investor Kleiner Perkins. Founded by Carlo Kobe and Scott Smith, Mine aims to address the trend of "economic nihilism" among Gen Z, where young individuals often engage in risky financial behaviors due to a belief that traditional financial systems are rigged. Mine offers a unique credit card product designed to function like a debit card while helping users build credit. The fintech-friendly Lead Bank issues the card. Initially known as Fizz, the company underwent a name change due to conflicts with another popular Gen Z app. Mine has expanded its offerings to include an AI-powered app called MoneyGPT, which provides financial advice and analysis based on users' account data. The company's mission is to democratize financial advice, making it accessible and actionable for young users rather than solely benefiting the wealthy. With approximately one million users, Mine generates revenue from a mix of subscription services and referral partnerships with companies like Uber and Nike. Among its user base, 70% are under 30 years old, and the company recently achieved $10 million in annual recurring revenue.Transitioning to other venture news, several companies have secured significant funding rounds across various sectors. Orbital raised $60 million for its AI-powered real estate risk platform, AnswersNow secured $40 million for its virtual autism support platform, Jelou obtained $10 million for developing AI agents for financial operations, and Symbiotic Security received $10 million for its AI code security platform. Additionally, EquipmentShare raised $747 million through an IPO on NASDAQ.Meta has decided to temporarily halt access for teenagers to its AI "characters" as the company develops new versions tailored for a teenage audience. These AI characters will remain accessible to adults. This decision comes as Meta faces a trial in New Mexico regarding the risks of its platform exposing children to sexual exploitation amid growing concerns over AI's impact on mental health. The new AI characters are expected to focus on topics like sports and education and come with parental controls.In other tech news, Amazon is preparing for another significant round of corporate layoffs, aiming to reduce its workforce by approximately 30,000 jobs. This follows a previous round of layoffs in October that affected around 14,000 white-collar positions. The upcoming cuts are expected to impact divisions such as Amazon Web Services, retail, Prime Video, and human resources. CEO Andy Jassy stated that these layoffs aim to streamline the company's operations rather than address financial issues.Meanwhile, the tech industry is buzzing with the emergence of "swarms" of autonomous AI coding agents. An experiment demonstrated the potential of these agents by having them build a new web browser from scratch using OpenAI's GPT-5.2 technology. Although the resulting product was described as only partially functioning, the experiment highlights significant advancements in AI-driven software development.Shifting focus to recent events in Minnesota, the immigration crackdown has reached a tipping point following a fatal shooting by federal agents in Minneapolis. This incident marks the second fatality related to immigration enforcement in the city within a month, prompting business leaders to break their silence. Diane Brady reports that more than 60 CEOs from prominent Minnesota companiSupport the show
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Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.The recent week's content from Stratechery provides insights into topics such as Netflix's strategic challenges, TSMC's role in AI, and reflections on basketball trades. Netflix's growth in subscriber numbers raises questions about user engagement necessary for increasing ad exposure and subscription fees. Concerns also emerge regarding Netflix's planned acquisition of Warner Bros. and its growth sustainability.The significance of Taiwan Semiconductor Manufacturing Company in the AI industry is underscored, as companies like OpenAI, Google, and Nvidia rely on TSMC for chip fabrication. This highlights TSMC's capacity limitations and the need for competition to ensure a robust supply chain. Additionally, Stratechery addresses TSMC's underinvestment amid high AI demand.In sports, a trade involving NBA player Luka Doncic has sparked criticism, with some suggesting potential long-term failure for Dallas. However, a contrarian view suggests the trade might be justified over time.The future of drug discovery is explored through the lens of Demis Hassabis, founder of Isomorphic Labs. With an astounding number of possible small, drug-like molecules vastly exceeding stars in the observable universe, Isomorphic Labs aims to leverage AI to develop a systematic process for discovering and optimizing drugs. Although no drugs are yet in clinical trials, the mission is to ultimately create life-changing treatments.This discussion is complemented by various business updates, including significant funding rounds for companies like Mews and Inferact. Notably, BitGo plans an IPO to raise substantial capital, reflecting significant financial movements across related sectors.A deal has been finalized to establish an American version of TikTok as part of efforts to transition TikTok's U.S. operations to American ownership due to concerns about data security. The new entity involves major American investors while ByteDance retains a minority stake.Intel faces challenges despite exceeding financial targets due to supply chain issues affecting demand fulfillment. Meanwhile, Google introduces "personal intelligence," allowing its AI to access users' Gmail and Google Photos for personalized recommendations.At the World Economic Forum in Davos, Scott Galloway shared his perspective on America's shifting global role. Once viewed as a stabilizing force, America now represents chaos and corruption. Larry Fink invited diverse opinions at Davos, including from Galloway and former President Trump. The forum also highlighted issues like rising insularity within business sectors. Meanwhile, interactions among global leaders were observed, including discussions between Saudi Tourism Minister Ahmed Al-Khateeb and Swiss Tourism CEO Martin Nydegger.Continuing with insights from Andrew Ng... At Davos, Andrew Ng discussed leveraging AI for transformative impact rather than just incremental gains. Emphasizing end-to-end workflow redesigns enhances customer experience and attracts more customers. Ng's advisory firm advocates for a blend of innovation and strategic direction to achieve transformative impact.OpenAI has introduced ads in ChatGPT as a new revenue stream while maintaining user experience. NVIDIA released Alpamayo-R1, enhancing decision-making in autonomous vehicles through reasoning capabilities. Apple entered a partnership with Google to enhance AI features on its devices using Google's advanced models. These developments reflect fast-paced advancements in AI technologies and their integration into business strategies and consumer products.Stay tuned for morSupport the show
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Each Saturday we take the headlines of daily podcast and ask ChatGPT to create a Sci-Fi story inspired by the news. The outcome for this week is this short story.Support the show
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Good morning from OWITH.ai, the podcast that gives you only what's important to hear in the AI and tech world.The dynamic nature of the AI industry continues to unfold as Aliisa Rosenthal, OpenAI's first commercial hire, transitions into venture capital with Acrew Capital. During her time at OpenAI, Rosenthal played a crucial role in transforming the company from a research lab into a global AI powerhouse, particularly following the launch of ChatGPT. Now, as a general partner at Acrew Capital, she aims to help companies navigate AI-related commercial challenges and opportunities. Her insights into the potential for enterprise applications in startups remain optimistic despite competition from giants like OpenAI and Google. Meanwhile, Deloitte's recent report indicates a significant shift towards sanctioned AI tools in the workplace, though governance for AI agents still needs development.In related developments, Apple is reportedly working on an AI-powered wearable pin, described as a screenless device that could launch as early as next year. This product is expected to integrate multiple cameras, a microphone, and a speaker. Apple's partnership with Google Gemini aims to boost its AI capabilities amidst challenges faced with its previous products like the VisionPro headset. The competitive landscape of wearable tech grows as OpenAI plans to release a similar device with former Apple designer Jony Ive’s expertise. Additionally, Google enhances its voice interfaces through talent acquisitions.Transitioning to the world of innovative startups, Goldman Sachs is placing its bets on Cubby, a company revolutionizing the self-storage industry with cutting-edge software solutions. Founded by Matt Engfer and Adam Fleming in 2022, Cubby has raised $63 million in Series A funding led by Goldman Sachs Alternatives. The startup aims to replace outdated software with modern solutions, showing significant growth potential despite initial skepticism from industry insiders. This investment highlights the transformative possibilities within traditionally mundane sectors like self-storage.In other AI developments, Anthropic is rethinking its Claude AI system guidelines to emphasize ethical behavior instead of just task completion. This approach seeks to instill an understanding of ethical actions within automated tasks like coding and research, appealing to enterprise customers. Meanwhile, SpaceX is reportedly eyeing an IPO to leverage its market position before other AI players go public. The company envisions establishing AI data centers in space powered by solar energy.Now turning toward broader economic themes discussed at Davos, Ray Dalio of Bridgewater Associates urged business leaders to adapt to permanent changes in the global economy. Kamal Ahmed from Fortune emphasized focusing on major trends like geopolitical conflicts and technological shifts rather than transient political issues. Discussions at Davos underscored navigating globalization complexities and technological transformation's impact on businesses worldwide.In corporate news, Walmart promotes David Guggina to lead U.S. operations, reflecting its commitment to advancing e-commerce and supply chain capabilities over traditional retail methods. Market updates indicate investor optimism with positive movements across global indices such as the S&P 500 and Nikkei 225.Finally, at Davos, a notable appeal emerged from nearly 400 millionaires and billionaires advocating for higher taxes on the wealthy to address economic inequality—a sentiment resonating with broader calls for systemic reform.These stories highlight an evolving landscape where technology and innovation intersect with globalSupport the show
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Good morning from OWITH.ai: the podcast that gives you only what's important to hear in the AI and tech world.Alphabet's growth investment firm, CapitalG, has made notable promotions as revealed by Fortune. Jill Chase and Alex Nichols have been elevated to general partners for the first time since the firm's inception in 2013. Jill Chase, who joined in 2020, has been instrumental in AI investments, backing companies like Abridge and Rippling. Alex Nichols, who became a partner two years ago after joining in 2018, has worked on investments in companies such as Duolingo and Stripe. Both bring unique skills and optimism about future energy costs driven by advances in technology.Significant funding rounds have been noted across various sectors, including a $480 million seed funding for Humans& and a $70 million Series B for Emergent. The venture capital landscape is increasingly collaborative with firms focusing on diverse portfolios involving cutting-edge technologies.Business and political leaders worldwide continue their discussions at Davos, with topics like tariffs and AI on the agenda. Reputation remains crucial in the corporate sphere, as reflected by Fortune's list of most admired companies where tech firms dominate.Netflix recently reported slightly exceeding its fourth-quarter earnings expectations, though investor skepticism remains over its acquisition plans of Warner Bros. Discovery. Meanwhile, Meta faces renewed antitrust scrutiny from the U.S. FTC concerning its Instagram and WhatsApp acquisitions.OpenAI is introducing an age prediction feature for ChatGPT to enhance online safety for minors.At Davos, CEOs are focusing on agentic AI, which involves autonomous decision-making systems. Notable figures such as Google Gemini head Demis Hassabis express optimism about its potential. Discussions also include technological prospects like the revival of Google Glass and energy intelligence initiatives led by Schneider Electric's CEO Olivier Blum. Geopolitical issues are also on the agenda, with topics like U.S.-Greenland relations being discussed.As these updates demonstrate, the tech industry continues to face challenges and opportunities in navigating acquisitions, regulatory scrutiny, and societal expectations regarding technology's impact on everyday life. Stay tuned for more insights on how these developments unfold across the globe.Support the show
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