Leela Yanamaddi on LinkedIn: #sharktank #money #investments #success (2024)

When Mark Zuckerberg announced a new AI system last year, Jeffrey Emanuel had doubts. Emanuel, a part-time hacker and AI enthusiast, had worked with "closed" AI models like those from OpenAI, meaning the code couldn't be accessed or changed. Initially, Meta's AI system was only available to a few academics, which concerned Emanuel.However, last summer, Zuckerberg made the AI system's code "open source," allowing anyone to copy, modify, and reuse it. This move won over Emanuel, who appreciated the system's power and ease of use. He admired Zuckerberg for promoting the open-source ethos, unlike companies like Google, OpenAI, and Microsoft, which keep their AI technology more closed.Zuckerberg has become a prominent supporter of the open-source model for AI. This stance has placed him in a debate about whether such powerful technology should be freely available.Companies like Microsoft, OpenAI, and Google prefer a closed AI strategy to protect their tech. In contrast, Zuckerberg believes the technology should be open to all. Since Meta's first fully open-source AI model, LLaMA 2, was released in July, it has been downloaded over 180 million times. A more powerful version, LLaMA 3, released in April, quickly topped download charts.Developers have used Meta's AI software to create various applications, from medical tools to digital assistants. Zuckerberg's support for open-source AI has boosted his popularity among tech communities despite Meta's past issues with developers.Zuckerberg's decision to open source AI is seen as "good business," as it encourages more developers to integrate Meta's tools into its ecosystem. This approach also helps Meta improve its internal AI systems.Competitors are noticing that companies like Google are starting to offer open-source models. Despite some lingering doubts about Meta, many developers now see Zuckerberg's actions as beneficial for the open-source community.What do you think? Should technology be open-source?#business #technology #ai #meta #openai #google

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In the late 1990s, the idea of getting movies delivered to your home seemed revolutionary. This is the story of Netflix, a company that reshaped how we watch movies and TV shows👇👇In 1997, Reed Hastings and Marc Randolph founded Netflix in Scotts Valley, California. Inspired by a $40 late fee for a video rental, Hastings envisioned a better way to rent movies. Netflix launched its website in 1998, offering 925 DVD titles for rent, mailed directly to customers’ homes. This innovative model provided convenience and a wider selection compared to traditional video rental stores.In 1999, Netflix introduced a subscription model allowing unlimited DVD rentals for a flat monthly fee. This eliminated due dates and late fees, attracting more customers and significantly growing its user base.As the internet evolved, Netflix saw potential in online video streaming. In 2007, the company launched its streaming service, enabling subscribers to watch movies and TV shows online at no extra cost. Despite initial skepticism due to slow internet speeds, Netflix believed streaming was the future of entertainment.Netflix's use of data analytics played a crucial role in its success. By analyzing customer preferences and viewing habits, Netflix made informed decisions about content acquisition and promotion. Recognizing the trend of binge-watching, Netflix tailored its services accordingly.In 2013, Netflix ventured into original content production with "House of Cards," a political drama series. Based on data showing high demand for political dramas and Kevin Spacey's popularity, the show became a huge success. This led to other successful originals like "Orange is the New Black," "Stranger Things," and "The Crown."Netflix expanded internationally, reaching over 190 countries by 2016. This global reach grew its subscriber base to over 230 million worldwide. The company shifted its focus from DVDs to streaming, spinning off the DVD service into a separate entity, DVD(dot)com.Financially, Netflix's growth was remarkable. Revenue soared from $1.2 billion in 2007 to over $30 billion in 2023, making it one of the most valuable media companies globally. However, competition from Amazon Prime Video, Disney+, and HBO Max posed challenges. To stay ahead, Netflix continued investing in original content and exploring new technologies.From selling DVDs to becoming the streaming giant - Netflix has come a long way!Follow Leela Yanamaddi for stories like these.#business #technology #startups

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Nvidia has experienced an exceptional surge over the past year, driven by growing interest in AI. And this was bound to happen. Why? The company's market value has surpassed $2T, making it more valuable than Google.In its latest financial report, Nvidia reported $26B in revenue for the April quarter, surpassing its $24B estimate and tripling sales from the previous year.Net income soared to $6B, a sevenfold increase. The company projected $28B in revenue for the current quarter, exceeding Wall Street estimates.Nvidia’s shares have risen over 90% this year, reflecting strong investor confidence. The company announced a 10-for-1 stock split to make shares more accessible. Nvidia's flagship processor, the H100, is in high demand, particularly for AI applications like OpenAI’s ChatGPT. These processors, priced between $15K to $40K, are significantly more expensive than standard processors due to their advanced capabilities.Nvidia’s new processor, Blackwell, set to release soon, has already garnered strong demand. We can only wonder what revolution will this processor bring.The company has collaborated with over 100 customers building new data centers, some with up to 100,000 GPUs. Nvidia’s GPUs are the only ones offered by all major cloud services, such as Amazon Web Services and Microsoft Azure, giving it a competitive edge against rivals like AMD and Intel.What do you think of Nvidia? Is it overhyped, or is it worth the hype?Let me know in the comments.Follow Leela Yanamaddi for more insights.#nvidia #technology #wallstreet #business

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The race to integrate AI into everyday devices is now focusing on laptops. Microsoft introduced new computers designed specifically for AI, called Copilot+ PC. These machines will have AI systems built into them, making them faster, more personal, and private.These AI-enabled laptops will help users find documents, emails, and websites they've used. For example, users can easily locate a specific email or a file by simply typing a natural language query like, "Find the document I edited last Friday." The AI will also automate tasks like photo editing, making it simple to enhance images without specialized software. Language translation will become seamless, allowing users to translate emails or documents instantly.The new design will be available in Microsoft Surface laptops and other high-end products from major PC makers like Acer, Asus, Dell, HP, Lenovo, and Samsung.Experts believe these AI PCs could revive the personal computer's importance, which has declined as software moved to the cloud. Running AI directly on a computer will reduce lag time and costs. Though not as powerful as the most advanced AI systems, these smaller models are improving and becoming useful for everyday consumers. For instance, during a video call, the AI can provide live transcripts and real-time translations, making it easier to communicate with people who speak different languages.Microsoft's CEO, Satya Nadella, stated that we are entering a new era where computers can anticipate our needs. Analysts expect other companies, like Apple, to follow Microsoft's lead in integrating AI into their devices.The success of AI PCs depends on compelling reasons for buyers to upgrade.Early sales might be small, but AI tools could become widespread by the end of the decade. Imagine a laptop that automatically organizes your files, sets up your virtual meetings, or remembers the websites you frequently visit and offers quick access. These conveniences could significantly enhance productivity and daily life, making AI PCs an essential tool for both personal and professional use.What do you think of this new AI era?Follow Leela Yanamaddi for more stories like these.#business #technology #startups #ai

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OpenAI asked Scarlett Johansson to voice its new voice assistant. She said No. Here is the complete story👇Days before OpenAI’s new voice assistant demo, CEO Sam Altman asked Scarlett Johansson to license her voice. (some people claim it's because her voice is seductive, and people would want to use the new assistant)She declined twice. Despite this,OpenAI used a voice she claimed sounded very similar.Johansson has hired a lawyer, leading OpenAI to suspend the “Sky” assistant.Johansson provided the voice for an A.I. system in the 2013 film “Her,” making this incident surreal. OpenAI asserts the voice actor behind Sky was cast before contacting Johansson. They’ve paused, using Sky’s voice out of respect. This marks Johansson’s latest battle over unauthorized use, echoing her previous lawsuit against Disney.OpenAI is now at a critical juncture, preparing to launch voice assistants supported by GPT-4o technology. Altman regretted the miscommunication, emphasizing Sky’s voice was never intended to mimic Johansson’s.Who do you think is correct in this case?#startups #business #openai #technology

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OpenAI’s chief scientist and co-founder, Ilya Sutskever, has decided to leave the company just a day after significant updates to the ChatGPT chatbot were revealed. This sudden move raises big questions about the future direction of one of the leading names in AI development.Sutskever's exit comes six months after he was a key player in an internal rebellion that briefly ousted Sam Altman as OpenAI’s CEO. Since that dramatic episode, Sutskever has been notably absent from the office, hinting at his departure. "OpenAI would not exist without him," Altman emphasized, highlighting Sutskever's crucial role in the company's foundation and growth.Founded in 2015 by Sutskever, Altman, Elon Musk, and others, OpenAI quickly established itself as a leader in the AI field, thanks in large part to Sutskever’s expertise. However, his position became shaky after he and other directors removed Altman in November, citing poor communication. This led to widespread resignations in protest, and Sutskever eventually stepped down from the board, backing Altman’s return.After Altman was reinstated, Sutskever maintained a low profile but spearheaded the creation of the Super Alignment team, focused on ensuring the safety of OpenAI's products for humanity. With Sutskever leaving, co-founder John Schulman will now lead this team, as Jan Leike, who co-led the team, has also resigned.Sutskever's departure marks a significant shift in OpenAI’s leadership, solidifying Altman’s control. Despite an expanded board, Altman remains at the helm, with close allies like Jakub Pachocki and Schulman stepping into key roles.Sutskever, who has voiced concerns about AI’s potential risks, expressed confidence in OpenAI’s path towards creating safe and beneficial AI. He also hinted at starting a new, personally meaningful project.Where will he go next? Some speculate he might join Elon Musk’s xAI start-up, though their relationship has had its share of tensions recently.Follow Leela Yanamaddi for more.#startups #business #technology #ai

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One bad experience led the founder of Tinder to leave the company and instead build Bumble! Read below to know the incredible story👇👇Back in 2012, Whitney Wolfe Herd crossed paths with Sean Rad at Hatch Labs.Together, they birthed Tinder, a dating app revolutionizing swiping left and right to find love.Their brainchild caught fire, drawing in heaps of praise.But then, a twist. Whitney started dating Justin Mateen, hired for marketing.Their breakup led to Justin harassing Whitney, and when she reported it, she got pushed out of Tinder.But from that low, a high emerged.Whitney channeled her frustration into a new project: a safe space for women online.Initially a social network, it morphed into Bumble, a dating app where women make the first move.And that's why Bumble flips the script, putting women's safety first.One setback birthed a billion-dollar idea.Insane, isn't it?Follow Leela Yanamaddi for more interesting stories like these.#startups #business #technology #ai

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