Weekly Recap Jan 9-13: ChatGPT's iOS app, SBF’s Substack, crypto insider trading, DoNotPay’s robo-lawyer
Hey guys,
I hope you are having a relaxing Sunday! If you're looking to learn more about the future of technology, you're in the right place. Research and development company OpenAI, whose mission is to ensure AI benefits all of humanity, took over the week as the central theme. Highlights included:
OpenAI's end game on E1657
Microsoft is investing $10B into OpenAI on E1654
Demoing OpenAI's ChatGPT iOS app on E1653
Have a great one, Producer Rachel
Producer’s pick:
Rachel: I enjoyed hearing Jason and Molly discuss chef Rene Redzepi closing down Noma at the end of 2024 in E1653. Copenhagen-based Noma, which has been called the best restaurant in the world, offers a three-hour-long meal comprised of 20 courses for $500. Molly compared the training to work at a restaurant of Noma caliber to unpaid or low-paying internships. Anthony Bourdain joined chef Rene in a Parts Unknown episode from Copenhagen, foraging for ingredients at a local beach, harvesting crops at a local farm, and sampling dishes in the restaurant's experimentation lab. What will fine dining look like in ten years?
Nick: I loved our segment on the reported rift between Salesforce and Slack on E1655. Not that I’m super interested in the inner drama at Salesforce, but I like the theory that Slack is underperforming its new owner’s expectations, leading to Salesforce pushing its own culture on Slack’s team. Why is Slack underperforming? Because Microsoft bundled Teams into Microsoft 365. This eliminated a bunch of whale clients for Slack and essentially capped its enterprise-level growth. At Slack’s current run rate, Salesforce paid something like 17x sales at $27.7B. Did they overpay? TBD.
Jon: Hey everyone! This week AI is still stuck in my mind. New advancements are being made every day and it is making it hard to look away. Some of the big things that came up this week were Microsoft integrating ChatGPT and investing $10B into OpenAI, DoNotPay's robot lawyer, and ChatGPT's upcoming iOS app. When Jason demonstrates the upcoming ChatGPT iOS app it really got me thinking about the similarities and differences between AI being released today and those that have been around for a while such as Siri(2011) and Alexa(2014). That being said, please be sure to check out E1563 (1:02) watch Jason's demo! Stay safe, Jon
Brian: I am not sure about everyone, but I feel like AI has been the hot topic all week. And Friday’s episode, E1657, was jam-packed and full of very insightful thoughts about the future of AI. Molly gave us great insight into what Sam Altman’s plans are for GPT4, and how he isn’t in a rush to release it. And we finally got a glimpse at DeepMind’s chatbot Sparrow, which actually cites its sources. All in all, this episode was very thought-provoking, and that’s why it was my favourite this week!
Episode and interview recaps:
OpenAI’s endgame, DeepMind’s chatbot, United by Zero’s Lex Kiefhaber + OK Boomer | E1657 Molly and Jason kick off the show about social taboo topics and getting to the bottom of Covid-19.(2:22) Following the two discuss Molly attending Strictly VC, DeepMind’s new chatbot Sparrow and OpenAI’s end game. (15:43) Then Molly interviews LAUNCH Accelerator founder United by Zero CEO and Founder Lex Kiefhaber (52:34). Then we cap off the episode with another great edition of Ok Boomer featuring Juliet Meskers, co-founder and CEO of MOTH (1:08:45)
Jay Trades and SBF's Substack + Award season and Netflix's content strategy with Lon Harris | E1656 Molly and Jason chop it up about Jason's latest Jay Trades: Apple, Amazon and Disney. (2:21) Then they briefly discuss SBF's new Substack. (14:42) To wrap up the show, Lon joins us for this week's edition of This Week in Streaming to talk about award season and Netflix's content strategy. (21:14)
Slack’s troubles inside Salesforce, crypto trader gets jail time, DoNotPay’s robo-lawyer | E1655 First up, J+M cover the problems at Slack and Salesforce (3:00), before breaking down the anti-competitive issues with bundling software to harm competitors. (13:34) Then, they talk about the comeuppance from "A-players" regarding the lack of efficiency in big tech (26:35), a 10-month jail sentence for crypto inside trading (39:52), and DoNotPay's AI-based robo-lawyer taking a case! (51:14)
Coinbase cuts 20%, Microsoft to invest $10B into OpenAI & Ascend Elements CEO Mike O’Kronley | E1654 Molly and Jason discuss the news that Coinbase is doing another 20% RIF. (6:50) Then they discuss the announcement that Microsoft is investing $10B into OpenAI with some pretty favourable terms. (27:19) After, Molly and Jason chat about Make Sunsets’ plan to cool the planet and Enpal, a German solar panel company raising money at a $2.4B valuation. (46:56) Then we wrap with this year’s first edition of TWiCS featuring Mike O’Kronley, CEO of Ascend Elements. (1:00:56)
"The weirdest economy ever," Noma shuts down, Jason demos ChatGPT's iOS app | E1653 Back from the weekend! First up, J+M catch up and cover a very strange economic situation. (2:07) Then, the duo covers NoMa, the world's most famous restaurant, shutting its doors due to an unsustainable business model (24:46), before going deep on generative AI news and demoing OpenAI's ChatGPT iOS app! (49:54)
Weekly Recap Jan 2 - Jan 8: Keith Rabois on 2023 macro outlook, CryptoZoo’s alleged scam breakdown with Coffeezilla, Bing integrating ChatGPT
Intro:
Example
Hi everybody!
This week was packed to the brim with news, but there was one story to rule them all:
Adam Neumann is BACK for his second act!
His pre-launch residential real estate startup, Flow, raised $350M from a16z at a >$1B valuation!
Via NYT reporting, Flow plans to launch in 2023 and will be operating 3K apartment units that Neumann personally bought in South Florida, Atlanta and Nashville.
The investment was controversial: some praised a16z’s boldness, while others were upset that this much capital was deployed to a founder who let his last startup, WeWork, go off the rails leading up to its cancelled IPO.
Jason summed up his thoughts on the matter with this tweet:
Hey guys,
I hope you had a great week! I'm excited to announce we'll include all of the producing team's picks in this newsletter moving forward! If you are an avid TWiST listener, you probably already know who Producer Nick and I are, but you might not know that we have two more fantastic team members behind the scenes! Jon Solis is a Video Editor from San Diego who has been killing it at growing our Tiktok presence. Brian Munroe is a Senior Video Editor and Producer from Halifax who has become a Swiss Army knife for our team, taking every project thrown at him in stride. Working with them has helped me grow as a producer, and I can't wait for readers to get to know them more.
Have a great one, Producer Rachel
Producer’s pick:
Rachel: My favorite episode was E1652. Jason and Molly spoke with Coffeezilla (1:11) about the latest (alleged) Logan Paul scam involving CryptoZoo. I am a big fan of commentary Youtube channels and have been watching Mr.Coffee’s videos for years. At the end of the episode (50:29), my BFF Em Herrera from Night Ventures joined me on Ok Boomer! I met Em through her previous appearance on the show, and she was my first IRL friend in New York City.
Nick: E1650 with Keith Rabois, (29:13). I loved this quote from Keith Rabois on Meta: “I think Facebook’s bet on Meta is insane. I think it’s the wrong company, with the wrong DNA, with the wrong founder, with the wrong vision. And the combination is really lethal. ”He went on to evaluate VR and AR separately and explained the limits of VR: it’s a platform where people could only spend a few hours in at most, and it probably reaches its maximum TAM as a video game platform. He also predicted VR would not be a solution for 90% of the travel market because most people’s motivation for traveling is actually being with other people in the place they traveled to, not just for educational purposes.
Brian: My favourite episode this week has to be E1649: SpaceX valued at $137B, Starlink's massive market, Shopify purges meetings. But more specifically, when Jason and Molly give an example of a bottom-up TAM for Starlink. (16:16) I find it extremely valuable when they give real-world examples! It is fascinating to see how they think about a particular market, and I can see a lot of founders and investors benefitting from this sort of insight!
Jon: My favorite episode this week is E1651. I particularly enjoyed the segment where Jason and Molly dived into the minds of Microsoft and Google. The debate of who will gain ground was engaging and entertaining! Also, watching AI technology advance and what we may see down the road with these advancements is especially thought-provoking. (1:21)
Episode and interview recaps:
**Logan Paul & CryptoZoo’s alleged scam breakdown with Coffeezilla + Ok Boomer with Em Herrera | E1652 Coffeezilla joins M+J to discuss the latest on the alleged Logan Paul and CryptoZoo scam. (1:21) Then Em Herrera joins Rachel for this year’s first edition of Ok Boomer to discuss 2023 predictions. (50:29)
Bing to integrate ChatGPT, Microsoft’s first union + Flux Gourmet review with Lon Harris | E1651 M+J kick off the show by discussing the news that Bing will integrate ChatGPT into its search service. (1:21) Then they chop it up about ZeniMax forming Microsoft’s first union. (15:06) And then Lon Harris joins the show to review Flux Gourmet and chat about the economics of streaming (27:11)
Keith Rabois on 2023 macro outlook, startup valuations, founder advice, ChatGPT vs Google | E1650 Multiple time guest and friend of the pod Keith Rabois is back! Jason and Keith talk 2023 macro outlook (1:00), big tech's impact on startups (10:01), advice for founders (18:24), Meta's risky VR bet (27:22), ChatGPT vs Google (39:05), and more!
SpaceX valued at $137B, Starlink's massive market, Shopify purges meetings | E1649 Jason and Molly are BACK for the first news show of 2023! First up, they break down SpaceX's reported $137B valuation, the astounding market opportunity for Starlink, and more! (7:14) Then, they cover two Shopify stories (37:38) and Apple shutting down fan-favorite weather app Dark Sky. (55:01)
**2023 Predictions! Startups, VC, tech, media, stocks, shutdowns, and more! | E1648 Jason and Molly rip through 20+ predictions for 2023, including over/under bets, shutdowns, stocks, main characters, startups, new tech, and SO much more!