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- Apple Ditches Goldman Sachs, Fight For the Soul of OpenAI and Robinhood Conquers the UK
Apple Ditches Goldman Sachs, Fight For the Soul of OpenAI and Robinhood Conquers the UK
Anna Eisenberg
November 30, 2023
Anna's Daybreak News
Tuesday, 6:41 AM
November 30, 2023
Good morning news lovers! Join us as we amplify the rhythm of headlines, harmonize with the stories, and orchestrate a symphony of current events to keep you in perfect tune with the world. 📰🌟
Apple Ditches Goldman in Dramatic Break-Up
The financial world is buzzing with the latest Silicon Valley shake-up! Goldman Sachs, in a bid to abandon its floundering credit card endeavor, now has an escape route courtesy of none other than Apple Inc.
The tech behemoth offered a term sheet to Goldman – a starter pistol for unwinding their collaborative credit contraption.
Despite a commitment meant to span half a decade more, this duo could be untangling their intertwined business affairs over the next few years, insiders whisper.
Since the launch of their virtual credit card in 2019 and a savings account just this year, the alliance seemed rock-solid. However, Apple is now eyeing a new horizon – plotting to part ways within the next dozen to fifteen months.
While the current customer experience presents "an incredible experience," behind the scenes, Apple is stealthily strategizing an exit that would dissolve their full-fledged financial fusion, even as Goldman remains mum on the matter.
Apple's leap into a high-yield deposit account that trumps Goldman's own savings rates seems to have been a sly foreshadowing of their independence bid.
Apple's foray into the "buy now, pay later" (BNPL) sphere via the Mastercard Installments program was perhaps a clue of the Cupertino-based company's impending solitary stride.
Source: Read More
The financial world is buzzing with the latest Silicon Valley shake-up! Goldman Sachs, in a bid to abandon its floundering credit card endeavor, now has an escape route courtesy of none other than Apple Inc.
The tech behemoth offered a term sheet to Goldman – a starter pistol for unwinding their collaborative credit contraption.
Despite a commitment meant to span half a decade more, this duo could be untangling their intertwined business affairs over the next few years, insiders whisper.
Since the launch of their virtual credit card in 2019 and a savings account just this year, the alliance seemed rock-solid. However, Apple is now eyeing a new horizon – plotting to part ways within the next dozen to fifteen months.
While the current customer experience presents "an incredible experience," behind the scenes, Apple is stealthily strategizing an exit that would dissolve their full-fledged financial fusion, even as Goldman remains mum on the matter.
Apple's leap into a high-yield deposit account that trumps Goldman's own savings rates seems to have been a sly foreshadowing of their independence bid.
Apple's foray into the "buy now, pay later" (BNPL) sphere via the Mastercard Installments program was perhaps a clue of the Cupertino-based company's impending solitary stride.
Source: Read More
Robinhood Conquers Britain
Robinhood, the notorious trading app, is swooping into the UK with its promise of commission-free trading and seducing Brits with the sweet siren song of American stocks.
The once-upstart platform that had everyone from grandmas to gamers trading meme stocks is crossing the Atlantic, aiming to stir up the British stiff upper lip with zero fees and a piece of the US market pie.
In the midst of a cost-of-living squeeze and trading downturn stateside, Robinhood's CEO Vlad Tenev is betting big on Britannia, touting the UK as the land of innovation and ripe for financial disruption.
The app's UK customers are now being tempted by the allure of an easy 5% return on idle cash and a hefty insurance on their dollar deposits.
However, despite its fanfare launch, the hooded hero of retail trading missed its revenue mark this quarter, with its shares taking a tumble and its user base shrinking like a hot air balloon in the cold British rain.
So, as Robinhood gallantly tries to spearhead a 'finance revolution' from London to Leeds, one can't help but chuckle—will British investors find their merry men in this American outlaw, or will this be another tale of New World brashness meeting Old World caution?
Source: Read More
Robinhood, the notorious trading app, is swooping into the UK with its promise of commission-free trading and seducing Brits with the sweet siren song of American stocks.
The once-upstart platform that had everyone from grandmas to gamers trading meme stocks is crossing the Atlantic, aiming to stir up the British stiff upper lip with zero fees and a piece of the US market pie.
In the midst of a cost-of-living squeeze and trading downturn stateside, Robinhood's CEO Vlad Tenev is betting big on Britannia, touting the UK as the land of innovation and ripe for financial disruption.
The app's UK customers are now being tempted by the allure of an easy 5% return on idle cash and a hefty insurance on their dollar deposits.
However, despite its fanfare launch, the hooded hero of retail trading missed its revenue mark this quarter, with its shares taking a tumble and its user base shrinking like a hot air balloon in the cold British rain.
So, as Robinhood gallantly tries to spearhead a 'finance revolution' from London to Leeds, one can't help but chuckle—will British investors find their merry men in this American outlaw, or will this be another tale of New World brashness meeting Old World caution?
Source: Read More
Do you think the US will be able to avoid a recession? |
Musk's Tells Advertisers 'Go F Yourselves'
In an unapologetically brash display of defiance, Elon Musk, the mercurial mogul behind X and Tesla, launched a verbal rocket at fleeing advertisers.
Musk's colorful choice of words followed an earlier slip-up where he nodded in agreement with an antisemitic post, sparking a mass exodus of ad revenue.
The billionaire struggled with an apology, likening his blunder to "handing a loaded gun" to his critics and haters alike.
Amid the uproar, major companies like Disney, and Warner Bros laid bare their discontent, halting their ads on X, while Musk remained adamant he wouldn't be blackmailed with money.
In the aftermath, Musk, who claims to have done more for the environment than "any single human on Earth," went on an impromptu trip to Israel, met with Netanyahu, and returned with a symbolic dog-tag from a victim of conflict.
Yet, this pilgrimage did little to douse the fires of controversy back home.
Musk seemed tired and fed up with dealing with what some called woke twitter, let's see if X is here to survive or crash under the wight of Elon 'The Walrus' Musk.
Source: Read More
In an unapologetically brash display of defiance, Elon Musk, the mercurial mogul behind X and Tesla, launched a verbal rocket at fleeing advertisers.
Musk's colorful choice of words followed an earlier slip-up where he nodded in agreement with an antisemitic post, sparking a mass exodus of ad revenue.
The billionaire struggled with an apology, likening his blunder to "handing a loaded gun" to his critics and haters alike.
Amid the uproar, major companies like Disney, and Warner Bros laid bare their discontent, halting their ads on X, while Musk remained adamant he wouldn't be blackmailed with money.
In the aftermath, Musk, who claims to have done more for the environment than "any single human on Earth," went on an impromptu trip to Israel, met with Netanyahu, and returned with a symbolic dog-tag from a victim of conflict.
Yet, this pilgrimage did little to douse the fires of controversy back home.
Musk seemed tired and fed up with dealing with what some called woke twitter, let's see if X is here to survive or crash under the wight of Elon 'The Walrus' Musk.
Source: Read More
Fight for the Soul of OpenAI
In an unforeseen narrative twist, OpenAI's CEO Sam Altman was fired and then magisterially restored to his throne at the AI giant.
Just like a thrilling soap opera, Bloomberg's mini-documentary "Inside the Battle for OpenAI’s Soul" unveils the secretive strife within the company's walls.
In an ironic parallel to Steve Jobs' saga at Apple, Altman's dismissal came hot on the heels of OpenAI's ChatGPT launching a generative AI revolution.
The boardroom tumult climaxed with a $13 billion handshake from Microsoft Corp., who now sits on OpenAI’s board—albeit as a silent, nonvoting observer.
In the midst of corporate chaos, Mira Murati held fast to her role as CTO, while the boardroom's deck was reshuffled, welcoming new faces like former Salesforce co-CEO Bret Taylor and veteran statesman Larry Summers.
Former Quora CEO Adam D'Angelo, whose hands are not free from the firing ink, remains on board. With a dash of irony, AI chief scientist Ilya Sutskever, initially supporting Altman's eviction, penned a plea for his return, resulting in a touching yet satirical forgiveness from Altman.
Greg Brockman, a co-founder, saunters back in as president, and the quest begins to fill six new board seats, without the investors' golden tickets.
Meanwhile, OpenAI's prior board, a diverse ensemble featuring Tasha McCauley and Helen Toner, waved goodbye to the dramatic scene.
It's the AI world's very own Shakespearean play where artificial intelligence meets very human follies.
Source: Read More
In an unforeseen narrative twist, OpenAI's CEO Sam Altman was fired and then magisterially restored to his throne at the AI giant.
Just like a thrilling soap opera, Bloomberg's mini-documentary "Inside the Battle for OpenAI’s Soul" unveils the secretive strife within the company's walls.
In an ironic parallel to Steve Jobs' saga at Apple, Altman's dismissal came hot on the heels of OpenAI's ChatGPT launching a generative AI revolution.
The boardroom tumult climaxed with a $13 billion handshake from Microsoft Corp., who now sits on OpenAI’s board—albeit as a silent, nonvoting observer.
In the midst of corporate chaos, Mira Murati held fast to her role as CTO, while the boardroom's deck was reshuffled, welcoming new faces like former Salesforce co-CEO Bret Taylor and veteran statesman Larry Summers.
Former Quora CEO Adam D'Angelo, whose hands are not free from the firing ink, remains on board. With a dash of irony, AI chief scientist Ilya Sutskever, initially supporting Altman's eviction, penned a plea for his return, resulting in a touching yet satirical forgiveness from Altman.
Greg Brockman, a co-founder, saunters back in as president, and the quest begins to fill six new board seats, without the investors' golden tickets.
Meanwhile, OpenAI's prior board, a diverse ensemble featuring Tasha McCauley and Helen Toner, waved goodbye to the dramatic scene.
It's the AI world's very own Shakespearean play where artificial intelligence meets very human follies.
Source: Read More
Baked with love,
Anna Eisenberg ❤️
What did you think of today's edition? |