This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
12.01.2024 - 03:51 / tech.hindustantimes.com / Sam Altman
When Bumble Inc. announced that its founder, Whitney Wolfe Herd, would step down as chief executive officer, analyst and press reports painted her as a “great visionary.” Her successor, former Microsoft Corp. and Salesforce Inc. executive Lidiane Jones, who took on the job last week, got dubbed a “strong operator.” This has long been the plight of the professional CEO. They are the boring “tech industry veteran” while the founder they succeed gets to be the “high-level thinker.”
If it's any consolation to the former group, boring is in high demand these days. In the last year or so, along with Bumble, a slew of companies and startups including Lyft, Slack,(1) Cruise and Stitch Fix have all had high-profile founders take a step back to make room for “more seasoned” executives.
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The departures are part of a broader C-suite exodus across US business: A record number of CEOs stepped down last year. Chalk some of it up to exhaustion. It has never been so difficult and so complicated to run a company, with supply-chain woes, geopolitical turmoil, the war on ESG and “woke” capitalism, rapidly changing consumer habits, the disruption caused by new technology like AI and the battle against employee burnout and disengagement.
But what's striking about the CEO exits in startup land is how antithetical they are to a long-held Silicon Valley doctrine: Under no circumstances do you ever get rid of a founder. It's an ethos that gained traction thanks to venture capital firm Andreessen Horowitz, which grew its business and reputation on the idea that founders should be CEOs to maintain their companies' vision and mission.
As the boom times come to an end, VCs seem more willing to trade a little less vision for a little more profit. The struggle is not only that the people who can deliver on these two objectives are rarely one in the same; it's also that the gap between what it takes to start a company and run one has never been wider. “The environment is a lot more dynamic, and skill sets are becoming obsolete faster,” Christopher Bingham, a professor at University of North Carolina's Kenan-Flagler Business School, told me.
Some boards are flat-out ousting their founders, like OpenAI's Sam Altman, who in a whirlwind five days managed to win back his job. But in many cases, founders aren't so much being pushed or nudged aside as they are opting out as they look around at a grim landscape. The New York Times has reported that more than 3,000 private venture-backed US companies went out of business last year, global M&A hit a 10-year low, and IPOs were down 25% year-over-year. It's never been harder to raise capital, and founders are facing more scrutiny from their boards. Carrying out
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
OpenAI CEO Sam Altman, a successful entrepreneur and the mind behind the widely-used generative AI tool ChatGPP, is known for bringing natural language and conversational AI tools to the tech industry. ChatGPT and his constructive strategies to meet the innovative demands of the technological world have led aspiring entrepreneurs to want to be like Altman. However, to gain unparalleled success. one has to navigate through a long and intricate journey, which requires hard work and much struggle. Therefore, to make the process easier for budding entrepreneurs, Altman has laid out 13 powerful ways on how to be successful.
A former Stardew Valley developer known as Arthur «Mr. Podunkian» Lee announced his new game, Sunkissed City, is officially coming later this year. The self-developed game combines many well-loved features from Stardew Valleywith the thrills of city living, giving fans of the farming sim an experience with a new twist but a similar feel.
A talented Stardew Valleyfan made an incredibly realistic recreation of the game’s iconic farmhouse. Stardew Valleyhas become one of the most successful indie games of all time, enchanting fans with its cozy art style, lovable characters, and high replay value. Due to the darling aesthetic of the farming sim, creative fan art is very popular within the game’s community.
Stardew Valley has made its way pretty much everywhere around the world, but a fan was still taken by surprise when they found a playable version of the game on a test computer at Walmart. When Stardew Valley launched, it was only available on PC. As time went by, ConcernedApe continued to work on the game and eventually got it to become available on nearly every platform. Nowadays, gamers can enjoy the game on PC, Xbox, Playstation, Switch, and mobile devices.
OpenAI Chief Executive Officer Sam Altman, who has been working to raise billions of dollars from global investors for a chip venture, aims to use the funds to set up a network of factories to manufacture semiconductors, according to several people with knowledge of the plans.
Davos [Switzerland], January 19 (ANI): In a Davos session themed 'Technology in a Turbulent World,' Sam Altman, CEO of OpenAI, delved into the future trajectory of artificial intelligence (AI), offering profound insights into its role as a driving force for global economies and societies.
With almost half of the world's population heading to the polls in a national election in 2024, leaders at the World Economic Forum are grappling with how the arrival of ChatGPT will affect these democracies — and how governments will in turn regulate AI. Leaders in artificial intelligence including OpenAI's Sam Altman and Microsoft Corp. founder Bill Gates weighed in this week at Davos, the gilded annual conference where billionaires hold forth on global problems. While all said they took the threat of artificial intelligence on elections seriously, there was a split in whether they thought major disruption was likely.Microsoft Corp. Chief Executive Officer Satya Nadella somewhat downplayed the risks. “It's not like this is the first election where disinformation, or misinformation, and election interference is going to be a real challenge that we all have to tackle,” he said, speaking at Bloomberg House at Davos on Tuesday.
Amid concerns raised in various quarters about risks posed by AI, ChatGPT creator OpenAI's CEO Sam Altman on Thursday said artificial intelligence (AI) won't replace human care for each other, just like computers didn't kill the game of chess. Speaking at a session on 'Technology in a Turbulent World' at the World Economic Forum (WEF 2024) here, he said even with its very limited current capability and very deep flaws, people are finding ways to use this tool for great productivity gains or other gains and understand the limitations.
Sam Altman said that his dramatic and quickly-reversed firing at OpenAI was less nerve-wracking than how the world approaches making artificial intelligence as capable as humans.
The World Economic Forum (WEF 2024) at Davos has been going on with full force with various tech CEOs attending the event including OpenAI CEO Sam Altman and Microsoft CEO Satya Nadella. On Tuesday Altman discussed about the future of AI and said it was an energy guzzler and that its future would be secure only if we get an energy breakthrough. Additionally, Microsofit's Satya Nadella also talked about the impact of AI in science. Know what the two tech giants said about Artificial intelligence (AI).
Beloved for its robust character creator, The Sims frequently lets players recreate popular NPCs from other franchises, including one fan who made the citizens of Stardew Valley in The Sims 4. Players have previously recreated Stardew Valley characters in Minecraft and other games, and this series of NPC recreations in The Sims 4 has caught the eye of fellow fans.