The Information

Roelof Botha (left) and Neil Shen (right). Photos via Getty.

Sequoia Capital Separates From China Affiliate Ahead of Schedule

By Jing Yang and Kate Clark · Nov 29, 2023 12:20pm PST

Sequoia Capital has finalized a key aspect of its landmark breakup with its Chinese and Indian affiliates one month ahead of schedule. The Menlo Park, Calif.-based venture firm has completed the process of separating IT systems and other back-end functions such as finance and accounting from the Chinese and Indian entities, formerly known as... Sequoia Capital has finalized a key aspect of its landmark breakup with its Chinese and Indian...

Photo by Bloomberg via Getty.

Members of Congress Plan to Grill OCC Over Fintech Regulator Who Faked His Resume

By Michael Roddan · Nov 29, 2023 12:11pm PST · 1 comment

A congressional committee is preparing to question officials from the federal banking regulator, the Office of the Comptroller of the Currency, over the appointment of its first chief financial technology officer, who The Information reported fabricated his work history to get the $300,000-a-year job. The House Financial Services... A congressional committee is preparing to question officials from the federal banking regulator,...

Bipul Sinha, co-founder and CEO of Rubrik.

Ahead of IPO, Rubrik’s Revenue Growth Slows as It Targets Long-Term Customers

By Cory Weinberg · Nov 29, 2023 7:17am PST · 1 comment

Microsoft-backed cloud startup Rubrik, which has been preparing for an initial public offering, may have the same problem that complicated the recent IPOs of Instacart and Arm: unusually slow revenue growth. Rubrik’s revenue grew about 8% year over year during the six months that ended in July, to nearly $290 million, a person familiar... Microsoft-backed cloud startup Rubrik, which has been preparing for an initial public offering,...

Tim Cook and Masayoshi Son. Photos via Getty

How a Lopsided Apple Deal Got Under Arm’s Skin

By Wayne Ma and Cory Weinberg · Nov 29, 2023 6:00am PST · 2 comments

Tim Cook and Masayoshi Son. Photos via Getty

How a Lopsided Apple Deal Got Under Arm’s Skin

By Wayne Ma and Cory Weinberg · Nov 29, 2023 6:00am PST · 2 comments

In 2017, SoftBank CEO Masayoshi Son gathered a group of executives from Arm Holdings, the British chip designer SoftBank had just bought, to complain about one of its most important customers: Apple. In a conference room in Tokyo, Son told the group that Apple paid more for the piece of plastic that protects the screens of new iPhones than it... In 2017, SoftBank CEO Masayoshi Son gathered a group of executives from Arm Holdings, the British...

A NASA crew lands in the Atlantic Ocean aboard a SpaceX spacecraft in Oct. 2022. Bill Ingalls/NASA via Getty Images

SpaceX Acquires Parachute Maker Pioneer Aerospace for $2.2 Million

By Becky Peterson · Nov 28, 2023 2:32pm PST

Elon Musk’s SpaceX is parachuting in to rescue one of its vendors from bankruptcy. The rocket company is acquiring Pioneer Aerospace—which makes parachutes for space vehicles as they return to Earth—for $2.2 million, according to a Florida bankruptcy filing by the parent company of Pioneer. The acquisition, which was approved... Elon Musk’s SpaceX is parachuting in to rescue one of its vendors from bankruptcy. The...

OpenAI CEO Sam Altman. Photo via Getty

OpenAI Isn’t Expected to Offer Microsoft, Other Investors a Board Seat

By Amir Efrati, Jessica E. Lessin and Aaron Holmes · Nov 28, 2023 1:52pm PST · 19 comments

OpenAI’s revamped board of directors doesn’t plan to include representatives from outside investors, according to a person familiar with the situation. It’s a sign that the board will prioritize safety practices ahead of investor returns. The new board hasn’t been officially seated and things could change. But the person... OpenAI’s revamped board of directors doesn’t plan to include representatives from...

Jeff Lawson, CEO of Twilio. Photo by Getty.

Hedge Fund Anson Builds Stake in Twilio, Pushes for Sale

By Maria Heeter · Nov 28, 2023 5:00am PST

Twilio CEO Jeff Lawson might have breathed a sigh of relief when the leader of tech investing at Legion Partners, an activist hedge fund that had agitated for change at Lawson’s software company, left for another fund. But the investor picked up where he left off, leading his new employer, Anson Funds, to buy a stake in Twilio. Anson is... Twilio CEO Jeff Lawson might have breathed a sigh of relief when the leader of tech investing at...

Art by Clark Miller

TikTok Ignited a Frenzy for Short Videos. Now It Wants Longer Ones

By Kaya Yurieff · Nov 27, 2023 6:00am PST · 4 comments

Art by Clark Miller

TikTok Ignited a Frenzy for Short Videos. Now It Wants Longer Ones

By Kaya Yurieff · Nov 27, 2023 6:00am PST · 4 comments

YouTube, Instagram and other apps have spent years trying to compete against the TikTok juggernaut by offering short videos resembling the 15-second clips that made TikTok famous. Now TikTok is stepping up a push to get its creators to make longer videos like the ones found on other apps. In late October, TikTok invited dozens of creators to its... YouTube, Instagram and other apps have spent years trying to compete against the TikTok...

A man walks past the OCC offices in Washington, D.C. Photo by Bloomberg via Getty.

A Bank Watchdog Crowned Its First Chief Fintech Officer. His Work History Was A Web Of Lies.

By Michael Roddan · Nov 24, 2023 6:00am PST · 12 comments

In March, the Office of the Comptroller of the Currency—the powerful federal banking regulator—tapped Prashant Kumar Bhardwaj as the first person to lead its mission to police fintech firms and the banks that power them. On the surface, Bhardwaj seemed to be well qualified to be the OCC’s new deputy comptroller and chief... In March, the Office of the Comptroller of the Currency—the powerful federal banking...

Sam Altman speaking at University College London (UCL) on May 24. Photo by Chris J. Ratcliffe/Bloomberg via Getty.

Altman Agrees to Internal Investigation Upon Return to OpenAI

By Amir Efrati, Anissa Gardizy and Erin Woo · Nov 21, 2023 10:04pm PST · 24 comments

Sam Altman, who was fired on Friday as CEO of OpenAI and was reinstated Tuesday night after a dramatic battle with the company's board, has agreed to an internal investigation into alleged conduct that prompted the board to oust him, according to a person with knowledge of the situation. On Friday, four board directors said in... Sam Altman, who was fired on Friday as CEO of OpenAI and was reinstated Tuesday night...

Scott Shleifer. Photo by Bloomberg via Getty.

Tiger Global’s Private Investment Chief Shleifer to Transition to Senior Adviser

By Erin Woo and Kate Clark · Nov 21, 2023 1:29pm PST

Scott Shleifer, a key architect of Tiger Global Management’s aggressive private tech dealmaking during the 2020-2022 startup boom, will transition from his role leading private investments, the firm’s co-founder Chase Coleman told investors Tuesday. Effective January 1, Shleifer will become a senior adviser. Tiger invested at least... Scott Shleifer, a key architect of Tiger Global Management’s aggressive private tech...

OpenAI Board Member and Quora CEO, Adam D'Angelo. Photo by MediaNews Group/Bay Area News via Getty.

The Quiet Silicon Valley Insider Complicating Sam Altman’s Return

By Cory Weinberg · Nov 21, 2023 11:30am PST · 13 comments

OpenAI Board Member and Quora CEO, Adam D'Angelo. Photo by MediaNews Group/Bay Area News via Getty.

The Quiet Silicon Valley Insider Complicating Sam Altman’s Return

By Cory Weinberg · Nov 21, 2023 11:30am PST · 13 comments

Quora CEO Adam D’Angelo, one of the central figures in the power struggle over OpenAI, has gained a reputation for stubbornness among Quora employees, a facet of his personality that may be playing into the debate on OpenAI’s board about whether to reinstate Sam Altman as CEO. At the question-and-answer site, there was... Quora CEO Adam D’Angelo, one of the central figures in the power struggle over OpenAI, has...

Car on the assembly line at Giga Texas in Austin. Photo by AFP via Getty Images

At Tesla’s Giant Texas Factory, Injuries and Safety Lapses Mount

By Becky Peterson · Nov 21, 2023 6:00am PST · 10 comments

In 2021, an engineer was programming the software that controls manufacturing robots at Tesla’s Austin, Texas, factory when something went wrong. Two of the robots, which cut car parts from freshly cast pieces of aluminum, were disabled so the engineer and his teammates could safely work on the machines. A third one, which grabbed and... In 2021, an engineer was programming the software that controls manufacturing robots at...

Anthropic CEO Dario Amodei. Photo via AP

OpenAI’s Board Approached Anthropic About Merger

By Stephanie Palazzolo · Nov 20, 2023 5:25pm PST · 25 comments

OpenAI’s board of directors approached Dario Amodei, the co-founder and CEO of rival large-language model developer Anthropic, about a potential merger of the two companies, said a person with direct knowledge. The approach came after OpenAI’s board had fired CEO Sam Altman on Friday and was part of an effort by OpenAI to persuade... OpenAI’s board of directors approached Dario Amodei, the co-founder and CEO of rival...

Left to right: Emmett Shear, interim CEO of OpenAI; Nat Friedman, former CEO of GitHub; Alex Wang, co-founder and CEO of Scale AI. Photos via Getty and Erin Beach.

Former GitHub CEO Friedman, Scale AI Founder Wang Declined OpenAI Top Job

By Kate Clark and Natasha Mascarenhas · Nov 20, 2023 12:15pm PST · 6 comments

Before Emmett Shear accepted the Interim CEO role at OpenAI, the board offered it to Nat Friedman, the former CEO of Microsoft-owned GitHub and a prolific investor in artificial intelligence startups, as well as Alex Wang, co-founder and CEO of Scale AI, according to people familiar with the matter. Both declined the offer, the people said. The... Before Emmett Shear accepted the Interim CEO role at OpenAI, the board offered it to Nat...

Sam Altman. Photo by Bloomberg via Getty.

OpenAI’s Customers Consider Defecting to Anthropic, Microsoft, Google

By Aaron Holmes, Anissa Gardizy, Natasha Mascarenhas and Stephanie Palazzolo · Nov 20, 2023 9:57am PST · 6 comments

Sam Altman. Photo by Bloomberg via Getty.

OpenAI’s Customers Consider Defecting to Anthropic, Microsoft, Google

By Aaron Holmes, Anissa Gardizy, Natasha Mascarenhas and Stephanie Palazzolo · Nov 20, 2023 9:57am PST · 6 comments

Questions about the future of OpenAI intensified on Monday, after board member and chief scientist Ilya Sutskever expressed regret for his participation in the firing of CEO Sam Altman. Meanwhile, OpenAI customers are looking for the exits, signaling a possible exodus of business that could devastate the startup. More than 100 OpenAI customers... Questions about the future of OpenAI intensified on Monday, after board member and chief...

OpenAI's Ilya Sutskever via Getty.

Dozens of Staffers Quit OpenAI After Sutskever Says Altman Won’t Return

By Amir Efrati · Nov 19, 2023 10:29pm PST · 14 comments

Dozens of OpenAI staffers internally announced they were quitting the company Sunday night, said a person with knowledge of the situation, after board director and chief scientist Ilya Sutskever told employees that fired CEO Sam Altman would not return. The moves could hamper the company's ability to move forward after the shock... Dozens of OpenAI staffers internally announced they were quitting the company Sunday night,...

OpenAI co-founders Sam Altman and Ilya Sutskever speak together in Tel Aviv on June 5, 2023.

Emmett Shear Becomes Interim OpenAI CEO as Altman Talks Break Down

By Amir Efrati and Anissa Gardizy · Nov 19, 2023 8:58pm PST · 43 comments

Sam Altman won’t return as CEO of OpenAI, despite efforts by the company’s executives to bring him back, according to co-founder and board director Ilya Sutskever. After a weekend of negotiations with the board of directors that fired him Friday, as well as with its remaining leaders and top investors, Altman will not return to the... Sam Altman won’t return as CEO of OpenAI, despite efforts by the company’s executives...

Sam Altman at the OpenAI DevDay event on Nov. 6 in San Francisco. Photo by Getty.

Altman, Brockman Arrive at OpenAI Headquarters as Execs Push to Reinstate Them

By Erin Woo and Amir Efrati · Nov 19, 2023 12:06pm PST · 5 comments

Two days after OpenAI’s board of directors fired him, Sam Altman joined executives at the company’s San Francisco headquarters Sunday as they pushed the board to reinstate him and other recently departed executives, said a person with knowledge of the situatioin. Interim CEO Mira Murati earlier told staff that she and the leadership... Two days after OpenAI’s board of directors fired him, Sam Altman joined executives at the...

Sam Altman receiving an award on behalf of OpenAI in Cambridge, England on November 1. Photo by Nordin Catic via Getty.

OpenAI’s Rivals Rush to Poach Staff After Altman Ouster

By Stephanie Palazzolo, Natasha Mascarenhas, Jon Victor and Kate Clark · Nov 19, 2023 9:47am PST

Sam Altman receiving an award on behalf of OpenAI in Cambridge, England on November 1. Photo by Nordin Catic via Getty.

OpenAI’s Rivals Rush to Poach Staff After Altman Ouster

By Stephanie Palazzolo, Natasha Mascarenhas, Jon Victor and Kate Clark · Nov 19, 2023 9:47am PST

For at least a brief moment, OpenAI's rivals caught a lucky break. After spending the last year racing to catch up to the ChatGPT developer’s lead, OpenAI competitors learned the jaw-dropping news: the startup’s board had pushed out Altman. By Sunday it looked like the reprieve would be short-lived, as growing employee and... For at least a brief moment, OpenAI's rivals caught a lucky break. After spending the last...