OpenAI has finalized a deal that values it at more than $80 billion

Sign Up [1]|Hire [2]|Advertise [3]|View Online [4]

TLDR

TLDR 2024-02-19

¨

BIG TECH & STARTUPS

MICROSOFT-BACKED OPENAI VALUED AT OVER $80 BILLION IN LATEST DEAL (2
MINUTE READ) [5]

OpenAI has finalized a deal that values it at more than $80 billion.
The deal involves the sale of existing shares through a tender offer
headed by venture firm Thrive Capital. It allows employees to
liquidate their shares in the company. OpenAI was valued at
approximately $29 billion early last year.

REDDIT HAS A NEW AI TRAINING DEAL TO SELL USER CONTENT (2 MINUTE
READ) [6]

Reddit has signed a deal with an unnamed large AI company for access
to its user-generated content platform. The deal is worth about $60
million annually. It is still subject to change as Reddit's plans to
go public are still in the works. Companies like OpenAI and Apple are
also seeking to make deals with other platforms to use their data to
train AI models.

¨

SCIENCE & FUTURISTIC TECHNOLOGY

NEW FDA-APPROVED DRUG MAKES SEVERE FOOD ALLERGIES LESS
LIFE-THREATENING (3 MINUTE READ) [7]

The FDA has approved an antibody drug called omalizumab (brand name
Xolair) as an injection to lessen allergic reactions to foods in
people ages 1 and up. The drug works by binding to a class of
antibodies called immunoglobulin E, preventing them from triggering an
allergic response. It doesn't eliminate food allergies, but it will
help reduce the health impact if accidental exposure occurs. The
drug's effects are not universal - in studies, around 17% of the
people receiving the drug showed no significant improvement in their sensitivity to allergy-triggering food.

SOFTBANK FOUNDER REPORTEDLY AIMS TO RAISE $100 BILLION TO BUILD AI
CHIP COMPANY THAT WOULD RIVAL NVIDIA Ä PROJECT IZANAGI MIGHT
LEVERAGE ARM DESIGN (2 MINUTE READ) [8]

Project Izanagi is a new chip venture from Softbank's founder that
aims to compete with Nvidia in the artificial intelligence processor
space. The project seeks to complement Softbank's Arm Holdings, which
designs processor architectures. It is unclear whether the AI
processors designed by Project Izanagi will rely on technologies
developed by Arm. The project may affect Arm's plans to create
reference chip designs for various workloads. It is separate from any collaboration with OpenAI.

¨

PROGRAMMING, DESIGN & DATA SCIENCE

MAGIKA (GITHUB REPO) [9]

Magika is an AI-powered file type detection tool. It uses a custom
Keras model that only weighs around 1MB to enable precise file
identification within milliseconds when running on a single CPU.
Magika achieves over 99% precision and recall. It is used at scale at
Google to improve users' safety by routing files to the proper
security and content policy scanners.

PWAS WON'T REPLACE NATIVE IOS APPS (5 MINUTE READ) [10]

Supporting progressive web apps (PWAs) on iOS takes a lot of time and
effort. While there is support for push notifications, there are a lot
of missing features and other issues. This article discusses issues
and bugs discovered when developing a PWA for iOS. Companies building
PWAs on iOS should not expect them to come close to a native
experience. Apple's choice to restrict PWA use in Europe is
concerning.

¨

MISCELLANEOUS

HOW CHINA BUILT BYD, ITS TESLA KILLER (10 MINUTE READ) [11]

BYD, China's leading electric vehicle company, has posted two years
of million-car growth in sales. The company was originally a battery manufacturer when it showed off its first model in 2007. It passed
Tesla in worldwide sales last year and is currently building assembly
lines in Brazil, Hungary, Thailand, and Uzbekistan. This article looks
at the company, how it started, and its journey to where it is now.

INTERVIEW: FIGMA'S CEO ON LIFE AFTER THE COMPANY'S FAILED SALE TO
ADOBE (14 MINUTE READ) [12]

Figma's CEO Dylan Field offered employees severance if they wanted to
leave the company after its blockbuster sale to Adobe was blocked by regulators. 4% of employees took him up on the offer. While Figma
appears to be in a stronger position than when it first agreed to sell
to Adobe in 2022, Field also lowered the company's internal valuation
to $10 billion - the same number it was in 2021. Field wants to use
Adobe's $1 billion breakup fee to look at new areas for Figma to
expand to.

¨

QUICK LINKS

RAISING CHILDREN ON THE EVE OF AI (8 MINUTE READ) [13]

The future is hard to imagine, but we shouldn't be afraid of it.

META'S LLM FOR SOFTWARE TESTING WORK IS SUPER EXCITING (3 MINUTE
READ) [14]

Meta's TestGen-LLM tool uses large language models to automatically
improve existing human-written tests.

I WORRY OUR COPILOT IS LEAVING SOME PASSENGERS BEHIND (25 MINUTE
READ) [15]

GitHub Copilot may be making accessibility on the web even worse than
it already is.

MUSE RETROSPECTIVE (33 MINUTE READ) [16]

Muse started as a project that aimed to invent a new computing
environment that would better serve people doing important knowledge
work like scientists, writers, entrepreneurs, designers, and
architects.

ANDROID 15'S FIRST DEVELOPER PREVIEW HAS ARRIVED (3 MINUTE READ)
[17]

The first official glimpse of Android 15 includes a lot of
under-the-hood tweaks to strengthen communication between hardware and software.

A BRIEF HISTORY OF SAAS AND WHAT'S NEXT (14 MINUTE READ) [18]

What was once high-tech will eventually become background
infrastructure - SaaS will eventually become the infrastructure for
artificial intelligence, robotics, biotech, and reforming
manufacturing and space.

WANT THE BEST OF TLDR? ¨

Refer a friend to TLDR using the referral link below, and we will send
you the TLDR Hall of Fame, our 50 best stories of all time!

YOUR REFERRAL LINK - https://tldr.tech/tech?ref=6061602 [19]

WANT MORE TLDR?

We also write newsletters for FOUNDERS [20], AI [21], INFORMATION
SECURITY [22], DESIGN [23], MARKETING [24], CRYPTO [25], WEB DEV [26],
PRODUCT [27], and DEVOPS [28]!

We help cutting edge companies hire world class technical talent
through our job listings. If you're hiring software engineers, AI/ML
engineers, product managers, designers or other tech talent, CLICK
HERE TO LEARN MORE [2].

If your company is interested in reaching an audience of tech
executives, decision-makers and engineers, you may want to ADVERTISE
WITH US [29].

If you have any comments or feedback, just respond to this email!

Thanks for reading,
Dan Ni [30] and Stephen Flanders [31]

If you don't want to receive future editions of TLDR, please click
here to unsubscribe [32].



Links:
------
[1] https://tldr.tech/signup?utm_source=tldr&ref=6061602
[2] https://share.hsforms.com/1hmOFVmqOTrON_SRvaRqEbQee466?utm_source=tldr&utm_medium=newsletter
[3] https://advertise.tldr.tech/?utm_source=tldr&utm_medium=newsletter&utm_campaign=advertisetopnav
[4] https://actions.tldrnewsletter.com/web-version?ep=1&lc=b5bb39ac-a04f-11ee-8692-6388dbdd6fd1&p=2d1d6eb0-cef0-11ee-b36f-49aadaf2623f&pt=campaign&t=1708342557&s=f04f07960377664c0bf19718d5eaec1fcff8aaaaef20f4c0741c5c87aba0ee24
[5] https://www.pymnts.com/cpi_posts/microsoft-backed-openai-valued-at-over-80-billion-in-latest-deal/?utm_source=tldrnewsletter
[6] https://www.theverge.com/2024/2/17/24075670/reddit-ai-training-license-deal-user-content?utm_source=tldrnewsletter
[7] https://arstechnica.com/science/2024/02/fda-approves-first-drug-to-lessen-food-allergies-before-accidental-eating/?utm_source=tldrnewsletter
[8] https://www.tomshardware.com/tech-industry/artificial-intelligence/softbank-founder-reportedly-aims-to-raise-dollar100-billion-to-build-ai-chip-company-that-would-rival-nvidia?utm_source=tldrnewsletter
[9] https://github.com/google/magika?utm_source=tldrnewsletter
[10] https://app.campsite.co/campsite/p/notes/rengvq2txami?utm_source=tldrnewsletter
[11] https://www.nytimes.com/2024/02/12/business/byd-china-electric-vehicle.html?unlocked_article_code=1.Wk0.wsvL.PMBLnnGc1sDM&smid=url-share&utm_source=tldrnewsletter
[12] https://www.theverge.com/2024/2/16/24075126/figma-ceo-dylan-field-interview-after-adobe?utm_source=tldrnewsletter
[13] https://juliawise.net/raising-children-on-the-eve-of-ai/?utm_source=tldrnewsletter
[14] https://twitter.com/nathanbenaich/status/1758036247115608317?utm_source=tldrnewsletter
[15] https://joshcollinsworth.com/blog/copilot?utm_source=tldrnewsletter
[16] https://adamwiggins.com/muse-retrospective/?utm_source=tldrnewsletter
[17] https://www.theverge.com/2024/2/16/24074987/android-15-developer-preview-vanilla-ice-cream?utm_source=tldrnewsletter
[18] https://andercot.substack.com/p/a-brief-history-of-saas-and-whats?utm_source=tldrnewsletter
[19] https://tldr.tech/tech?ref=6061602
[20] https://tldr.tech/founders
[21] https://tldr.tech/ai
[22] https://tldr.tech/infosec
[23] https://tldr.tech/design
[24] https://tldr.tech/marketing
[25] https://tldr.tech/crypto
[26] https://tldr.tech/webdev
[27] https://tldr.tech/product
[28] https://tldr.tech/devops
[29] https://advertise.tldr.tech/?utm_source=tldr&utm_medium=newsletter&utm_campaign=advertisecta
[30] https://twitter.com/tldrdan
[31] https://twitter.com/SteveFlanders22
[32] https://actions.tldrnewsletter.com/unsubscribe?ep=1&l=cfa2d55a-b7be-11e8-a3c9-06b79b628af2&lc=b5bb39ac-a04f-11ee-8692-6388dbdd6fd1&p=2d1d6eb0-cef0-11ee-b36f-49aadaf2623f&pt=campaign&pv=4&spa=1708340418&t=1708342557&s=00910251e3747a085538e5d6c4b75d5130d7c38565f214b3708e5c8888136211

---
þ Synchronet þ Vertrauen þ Home of Synchronet þ [vert/cvs/bbs].synchro.net