We now know how much Tesla paid as it released its annual proxy statement on Wednesday morning, which includes a section on “related person transactions” the company has made.
Tesla has also paid X around $50,000 in 2023 and $30,000 through February 2024 for “commercial, consulting and support agreements.” Likewise, X paid Tesla $1 million in 2023 and around $20,000 through February 2024 for the same unspecified work.
Tesla paid Musk’s tunneling effort, The Boring Company, $200,000 in 2023 and $1 million through February 2024.
“The Committee and its counsel are aware of the media narrative regarding Musk, Tesla, and its Board,” the committee writes in the proxy.
“And the Committee’s work was conducted against a backdrop of unrelenting public interest in whether Tesla would reincorporate and in Musk’s compensation.
The Oversight Board, Meta’s semi-independent policy council, it turning its attention to how the company’s social platforms are handling explicit, AI-generated images.
Tuesday, it announced investigations into two separate cases over how Instagram in India and Facebook in the U.S. handled AI-generated images of public figures after Meta’s systems fell short on detecting and responding to the explicit content.
In other words, after two reports, the explicit AI-generated image remained on Instagram.
The second case relates to Facebook, where a user posted an explicit, AI-generated image that resembled a U.S. public figure in a Group focusing on AI creations.
Meta’s response and the next stepsIn response to the Oversight Board’s cases, Meta said it took down both pieces of content.
If the decisions made by corporate boards of directors can indicate where a company wants to be focusing, Amazon’s board just made an interesting move.
The company announced on Thursday that Andrew Ng, known for building AI at large tech companies, is joining its board of directors.
And given the AI whiplash that every big tech company is currently dealing with, it feels timely that McGrath is stepping away from the board now.
To stay at the forefront of the tech industry, Amazon will be looking for better thought leadership on the next steps in its artificial intelligence strategy.
It’s worth remembering that Amazon has been a leading player in AI for a long time.
The next big thing in mechanical keyboards is magnetic switches.
On a standard mechanical keyboard switch, you physically close an electrical circuit to register a key press.
Popularized by Dutch keyboard startup Wooting, these switches rely on the Hall Effect and have actually been around since the 1960s.
That’s one thing about board with magnetic switches: they tend to favor proprietary software over open-source solutions like VIA.
The switch is a Khailh Sakura Pink magnetic switch with a 50gf bottom-out force.
Meta has announced changes to its rules on AI-generated content and manipulated media following criticism from its Oversight Board.
So, for AI-generated or otherwise manipulated media on Meta platforms like Facebook and Instagram, the playbook appears to be: more labels, fewer takedowns.
“Our ‘Made with AI’ labels on AI-generated video, audio and images will be based on our detection of industry-shared signals of AI images or people self-disclosing that they’re uploading AI-generated content,” said Bickert, noting the company already applies ‘Imagined with AI’ labels to photorealistic images created using its own Meta AI feature.
Meta’s blog post highlights a network of nearly 100 independent fact-checkers which it says it’s engaged with to help identify risks related to manipulated content.
These external entities will continue to review false and misleading AI-generated content, per Meta.
Rubrik, a data cybersecurity company that raised more than a half-billion dollars while private, filed to go public after the bell on Monday.
As a private-market company, Rubrik last raised a lettered round in 2019 when it closed $261 million at a $3.6 billion post-money valuation, according to Crunchbase data.
However, subscription revenue grew 40% over the same period, rising from $385.3 million to $537.9 million.
The growth in its subscription revenue, and not its legacy revenues, is the engine that could propel Rubrik to a successful IPO.
A Silicon Valley storyRubrik’s potential IPO could prove a coup for Lightspeed Venture Partners, a well-known Silicon Valley venture capital shop.
Byju’s is holding an extraordinary general meeting Friday, where it will attempt to pass the resolution over the rights issue.
The rights issue values Byju’s under $250 million, a stunning drop from the $22 billion valuation it carried in early 2022.
Prosus Ventures, Peak XV Partners and Chan Zuckerberg Initiative are among the investors who didn’t participate in Byju’s recent $200 million rights issue.
The investors have instead sought, using legal means, to remove Raveendran and his family from the startup and to invalidate the rights issue.
The investors quit the startup’s board whereas the global auditing giant Deloitte dropped the account of Byju’s over these concerns last year.
Tinder-owner Match Group has appointed two new members to its board of directors and signed an agreement with Elliott Management, the company announced on Monday.
Chief marketing officer at Instacart, Laura Jones, and Zillow co-founder Spencer Rascoff, will be joining the board, effective immediately.
Match said in a press release that the appointments followed a “a constructive dialogue” with the activist investor, as the two companies have entered in an “information-sharing” agreement.
“We appreciate the collaboration with management and the Board over the past several months, and we are confident that Laura Jones and Spencer Rascoff are strong additions to the Board.
The activist investor’s push for change at the dating firm follows board shakeups at Crown Castle and Etsy.
Donald Trump’s beleaguered SPAC deal is finally going through, and just in time to pay nearly half a billion dollars owed over several legal actions — if the board agrees to let him sell.
And that’s without reckoning with the questionable success of Truth Social, the partisan social network hurriedly stood up after the former President was booted from Twitter.
TMTG reportedly had a net loss of around $49 million in 2023, on revenues of under $4 million — not exactly hot numbers.
There’s no doubt that many, many shareholders in the newly public TMTG will sell their shares as soon as possible.
But if Trump wanted to finance his current liabilities, he’d have to sell some 12 million shares at the current price — around 15% of his total stake.
Sam Altman, the CEO of OpenAI, has a seat at the table — or board, rather — once again.
OpenAI today announced that Altman will be rejoining the company’s board of directors several months after losing his seat and being forced out as OpenAI’s CEO.
Joining alongside him are three members, former CEO of the Bill and Melinda Gates Foundation Sue Desmond-Hellmann, former Sony Entertainment president Nicole Seligman and Instacard CEO Fidji Simo — bringing OpenAI’s board to seven people.
Seligman was Sony’s VC and general counsel before rising through the ranks to CEO of Sony Corporation and president of Sony Corporation of America.
Both OpenAI CTO Mira Murati and Ilya Sutskever, a former OpenAI board member and the startup’s chief scientist, approached members of OpenAI’s previous board to express concerns about Altman’s behavior prior to his ouster last year, according to The Times.
