In a surprising executive transition, Instacart CEO Fidji Simo will be leaving her role to join OpenAI as the company’s new CEO for Applications. Already serving on OpenAI’s board, Simo’s new position will involve scaling what CEO Sam Altman called “traditional” company functions, although specific details of her mandate have not yet been clarified.
OpenAI itself made headlines earlier this week when it reversed its stance on shifting toward a for-profit structure. Instead, the firm’s nonprofit entity will retain decisive control over its for-profit operations. This decision followed consultations with civic leaders and engagements with the attorneys general of Delaware and California.
Meanwhile, another tech executive shakeup occurred at tech startup 11x. Hasan Sukkar announced he will step down from his role as CEO and transition into a non-executive chairman position. Sukkar’s move comes on the heels of scrutiny the company faced earlier this year, when it was discovered displaying logos of inactive customers on its website—some of whom had threatened legal action.
Tesla was also caught in the spotlight after the U.S. Patent and Trademark Office rejected its attempts to trademark the terms “Cybercab” and “Robotaxi,” citing their generic nature. Tesla now has a three-month window to respond or risk abandonment of the application.
At Stripe’s Sessions conference in San Francisco, Meta CEO Mark Zuckerberg unveiled plans for automating advertising campaigns using a comprehensive AI-powered platform. Analysts are split over the potential impact this automation might have on user experience, particularly given criticisms of generative AI-produced content quality on social media platforms.
In advertising news, Meta revealed at the NewFronts conference that it is running tests for video ads within its Threads platform, which now boasts over 350 million monthly active users.
On the consumer tech front, robotics company Posha introduced a kitchen-aid robot designed to prepare meals automatically. By selecting a recipe from provided choices and supplying the necessary ingredients, users enjoy hands-off meal preparation from start to finish.
In entertainment, the scripted web series—once popularized on platforms like YouTube—have regained momentum again, finding new success and viral traction on TikTok.
Finally, Bill Gates made headlines by stating that the Gates Foundation is now set to exhaust its current resources and end its operations within two decades. Gates reaffirmed his pledge to donate 99% of his fortune, currently estimated at $107 billion, to philanthropy centered around the foundation’s initiatives.
OpenAI’s recent structural adjustments have also drawn analysis from industry observers. While satisfying concerns from regulators and existing investors, some argue the changes might pose limitations to its ambitious future plans, possibly affecting the timing or viability of a potential IPO.
