Welcome back to Week in Review! We’ve got lots of news for you this week: There were CEO shake-ups at Instacart and 11x; the web series is back — kind of; Threads is getting video ads; and much more. Let’s get to it!
Big move: Instacart CEO Fidji Simo will become OpenAI’s CEO for Applications, the company said this week. Simo is already on the OpenAI board. She’ll be tasked with helping OpenAI in scaling “traditional” company functions, CEO Sam Altman said, but he didn’t provide any details on what that means.
Speaking of OpenAI: The company decided that its nonprofit division will retain control over its for-profit organization after initially announcing that it planned to convert to a for-profit organization. OpenAI says that it made the decision “after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California.”
And speaking of CEO moves: 11x CEO Hasan Sukkar announced that he’s stepping down and moving into a “non-executive chairman” position. In March, TechCrunch reported that 11x had been showing off on its website customer logos of companies that were not active customers, and one of those companies was threatening to sue over the matter.
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News
Trademark friction: Tesla wants to trademark the terms “Cybercab” and “Robotaxi” but was denied by the U.S. Patent and Trademark Office because the terms are too generic. Tesla has three months to file a response, or the office will abandon the application.
No thanks: Speaking onstage at Stripe’s annual Sessions conference in San Francisco on Tuesday, Meta CEO Mark Zuckerberg laid out his plans to automate the entire ad industry with a black-box, end-to-end AI ad tool. As Maxwell Zeff reports, “It’s an open question as to what AI ad testing will do to Meta’s platforms from a user experience point of view, considering they’re already brimming with generative AI slop.”
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And speaking of ads: Meta announced at the NewFronts conference that it’s testing video ads in Threads. The update follows Meta’s recent announcement that Threads now reaches over 350 million monthly active users.
Yes, please! I’m not too savvy in the kitchen, so Posha’s new robot that cooks your meals for you sounds like a dream come true. You scroll through a list of recipes, select the one you want, add the proper amounts of the requested ingredients, and the machine makes the meal from there.
We’re back, baby: Before the rise of vertical video, scripted web series on YouTube were successful enough to spin out into cult-favorite TV shows like “Broad City,” “Insecure,” and “Letterkenny.” Now the web series is back, but it lives on a new platform: TikTok.
Goodbye to a real one: Bill Gates said Thursday that the Gates Foundation will have just 20 years to exhaust its coffers and wind down operations. He has pledged to donate 99% of his fortune, which today is worth an estimated $107 billion, to the foundation.
Analysis
What’s next for OpenAI: OpenAI’s new restructuring plan could satisfy regulators and investors who have invested heavily in the company hoping for future profits. But it might also disrupt OpenAI’s future ambitions, especially regarding a potential IPO.