🚀 FTX recovers more $
Plus, AI that can make AND finish your to-do list!
🛑 OpenAI denies GPT-5 rumors. Sam Altman, CEO of OpenAI, confirmed that the company is not currently training the next version of its large language model and won’t be doing so for “quite some time.” He said that GPT-4, which was released in mid-March, went through six months of training from a red team before it was unveiled to the public. However, he noted there are still “safety issues” to address.
💸 FTX update. The new leadership of collapsed crypto exchange FTX has recovered $7.3B in client assets, an increase of $800M since January - though the true shortfall remains unknown. The company’s attorney told a bankruptcy court that it is negotiating with stakeholders about potentially reopening the exchange. CEO and co-founder Sam Bankman-Fried is still out on bail, awaiting trial - though he’s only allowed a flip phone and laptop with limited functionality.
🤖 Amazon launches AI initiative. Amazon is making moves in AI! The company launched Bedrock for generative AI, which lets customers customize and use LLMs and image generation models from a variety of providers. Amazon also announced its own AI models through an initiative called Titan - which includes both an LLM (text generation, classification, summarization, etc.) and a search personalization model.
📱 Twitter product updates. It was another big week in the Twitter-sphere. Through a new partnership with eToro, Twitter users can now get more real-time “cashtags” on financial assets and click to buy or sell them. The company also relaunched its creator subscription product, previously called Super Follows - creators can now apply to sell any type of content (from exclusive tweets to video). And finally, Twitter is officially now merged with X Corp to fulfill Elon Musk’s vision of building an “everything app.”
what we’re following 👀
The rise (and survival) of Amazon alternative Bookshop.org.
Spotify is shutting down its Wordle-inspired music guessing game.
How human-grade dog food has exploded among a new generation of pet parents.
The new platform that is allowing consumers to bid for exclusive reservations.
We've covered a lot of AI news in Accelerated! But this week brought a major leap forward in terms of AI's impact on the "real world” - agents that can IRL tasks for you.
How does this work? You might use a platform like ChatGPT to generate a list of, for example, the top five vegetarian restaurants in Santa Monica. But an AI agent could take the extra step of finding which restaurant has availability tonight, and then actually making a booking for you 🤯.
This isn't just hypothetical - there are live apps with this functionality, most of which are built on top of models like AutoGPT and BabyAGI. These agents allow large language models (LLMs) like GPT-4 to prompt themselves, meaning they can complete a more complicated series of tasks and move through obstacles without human instruction at every step.
These AI agents are very new - they started popping up in the last two weeks. BabyAGI was built by Yohei Nakajima, a GP at Untapped Ventures, as a side project, while Auto-GPT is an open source project from freelance developer and game designer Toran Bruce Richards. Other developers are now building on top of their work, with applications that allow users to interact with BabyAPI, Auto-GPT, and similar agents directly in your web browser (with no additional downloads).
These AI agents still have some significant limitations (and errors!). A common one is getting stuck in a “loop” with one step or task that they have a hard time completing, stopping them from moving on to the next one. But if we’ve come this far with very small, largely self-funded teams building for less than a month - where will be a few months from now? As people in desperate need of a self-completing to-do list, we’re very excited to find out 😂
Tasks they’ve reportedly been able to complete successfully include generating market research reports, building a digital ping-pong game, and even placing an order at Starbucks! You can try out AI agents here:
Felicis - Investor (TBD)
Scratch Financial - Biz Ops Associate (Remote)
Figma - Product Manager, FigJam (SF, Remote)
Renegade - Associate (SF)
Bloomberg Beta - Platform Associate (SF)
Snap - Business Intelligence Engineer (LA)
Primary Venture Partners - Senior Associate (NYC)
Trunk Tools - Chief of Staff (NYC)
Traba - Product Designer (NYC)
Paper - Engineering Intern (Remote)
Brave - UX Research Intern (Remote)
Verkada - MBA Interns (San Mateo)
Disney - Accelerator Intern (LA)
RepairSmith - Biz Ops Intern (Tempe, AZ)
Ramp - Revenue Ops Extern (NYC)
Patreon - Software Engineering Intern (NYC, SF)
puppy of the week 🐶
Meet Tsuki, a one-year-old Australian Shepherd who lives in France.
She loves chilling at home, hanging out with her brothers, and going on long walks.
Follow her on Instagram @tsuki.aussie!
All views are our own. None of the above should be taken as investment advice. See this page for important information.