12/30/2023 0 Comments Popcorn time latest update![]() One European VC predicted that the events will have an impact on all term-sheet negotiations: “I would expect founders to become more resistant to board control over CEO replacement and other similar terms. ![]() ![]() For the AI companies built on OpenAI this will make no major changes in the short term, but will mean the market homogenizes, especially if they lose direction and focus.”Īnother pointed out that after OpenAI’s much lauded Demo Day the other week, it was seen as “the most extraordinary kind of business,” but now looks like “an absolute shit show.” They likened it to the debacle that was WeWork. “This is great news for startups like Mistral, who can probably poach some good employees and catchup with OpenAI. I probed a few keen tech observers, many of them venture capitalists, but almost none would go on the record, perhaps for fear of drawing the attention of some Valley AI God in full battle-mode.Ī U.K.-based investor posited that the drama will have positive effects on Europe’s nascent AI sector. With only a handful of large-scale AI startups such as Germany’s Aleph Alpha and France’s Mistral in Europe getting the pulse up (London’s DeepMind was absorbed into the Google Borg long ago), we’ve been grabbing the popcorn and watching this unexpected episode of Silicon Valley from afar. Indeed, events have at times resembled some Greek tragedy about the Gods fighting it out, atop Mount Olympus, while us mere mortals watch on. With the OpenAI saga playing out across the pond, the European tech community has been waiting for the latest updates as if a new series of “Succession” was about to drop.
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