Tech Tides Turning: Open AI Battles and IPO Landmarks

Unveiling the week's tech drama: Musk vs. OpenAI and Reddit's financial stride.

The KillerStartups weekly newsletter is thrilled to share the latest developments in the tech and startup ecosystem.

As always, please support the newest Featured Startups, as many are looking for feedback and just starting out!

Our team packed a lot into this newsletter, so let’s get into it!

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KillerStartups’ Mission is to help entrepreneurs achieve the next big thing. Our role is to connect you with founders you can help, and founders who can help you!

When we featured Uber in 2010, Founder Travis Kalanick might have still been your driver.

Uber raised their first $1.6MM three months after we featured them. $4.9B later, we are still proud to have discovered them.

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30-Second News Picks

Our 30-Second Summary:

Deadspin, a well-regarded sports commentary site, experienced a significant shift as its entire staff was laid off following the sale to Lineup Publishing. The new owner aims to steer Deadspin in a fresh editorial direction, emphasizing unique sports coverage. This move is part of broader media industry challenges, including intense competition and evolving consumer preferences.

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Our 30-Second Summary:

Reddit announced plans for an IPO, targeting a valuation of nearly $6.5 billion. The platform intends to sell around 22 million shares, with a price range of $31 to $34 each. This marks a significant event as Reddit's IPO is the first major tech and social media debut since Pinterest's in 2019, showcasing the ongoing vitality and investor interest in the tech sector.

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Our 30-Second Summary:

Elon Musk is set to open-source Grok, his chatbot designed as a "truth-seeking" counterpart to ChatGPT, through his AI company, xAI. This decision contrasts with OpenAI's approach of offering ChatGPT for use while keeping its code private. Musk's move to open-source Grok, previously exclusive to Premium+ subscribers on X, could increase its accessibility and development potential. This aligns with Meta's strategy of open-sourcing generative AI models, sparking debates about the benefits and risks of making powerful AI technologies widely available.

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Tweets of the Week

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Notes From KillerStartups Staff 👀

Our team is happy to announce the newest features on KillerStartups, including the site redesign and polling feature. We could not accomplish these goals without a supportive and powerful community like yourselves! Thank you!

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