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Nov 24, 2023

What venture capital is thinking after a week of high drama and shakeups in tech

Jewel Burks Solomon at Collab Capitals joins the show to discuss Sam Altman’s firing then re-hiring as OpenAI’s CEO, the resignation of driverless tech firm Cruise CEO Kyle Vogt and where all that venture capital cash is going now on this week’s Tech Bytes: Week in Review.

What venture capital is thinking after a week of high drama and shakeups in tech
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This week, the shakeups and confusion at OpenAI have come to a conclusion. Sam Altman returns to his position as CEO at OpenAI after its board fired him, which upset most of the company’s staff as well as others invested in OpenAI’s work in the generative artificial intelligence sector.

Plus, Kyle Vogt resigned as CEO of the driverless tech startup Cruise, following a series of traffic collisions and accidents.

On top of all that, Changpeng Zhao, the founder of cryptocurrency exchange Binance, pleaded guilty to money laundering violations.

What do venture capitalists think about all these disruptions and where will their money go now? Marketplace’s Lily Jamali is joined by Jewel Burks Solomon, managing partner at Collab Capital, for her take on those stories.

More on everything we talked about:

OpenAI Says Sam Altman to Return as CEO – The Wall Street Journal

Sam Altman to return as CEO of OpenAI – The Verge

Cruise’s C.E.O. Quits as the Driverless Carmaker Aims to Rebuild Trust – New York Times

GM’s big bet on driverless cars turns sour – The Verge

SF Bay Area Share Of Startup Funding Hits A Multiyear High – Crunchbase

Binance Founder Pleads Guilty to Violating Money Laundering Rules – New York Times

The Team