A Morgan Stanley exec breaks down how the bank courts tech partners like OpenAI
Morgan Stanley wants more partnerships with tech vendors focused on cloud, data, and AI. The bank has cut down the time it takes to test and onboard new partners as its pipeline grows. Sean Manahan, global head of technology business development, outlines what he wants in a partner. Sean Manahan’s team at Morgan Stanley met…
OpenAI admits GPT-4 may be worse on some tasks after users complained the model is ‘lazier’ and ‘dumber’
Users of OpenAI’s new GPT-4 model have been complaining in recent weeks about degraded performance. OpenAI admitted that GPT-4 performance may be worse on some tasks. “There may be some tasks where the performance gets worse,” OpenAI stated in a blog post. According to OpenAI, the company that created ChatGPT, GPT-4’s performance may be worse on some tasks…
Etsy made 2 massive acquisitions at peak tech valuations. Two years and a $1 billion write-off later, it has buyer’s remorse as it sells Elo7.
Etsy said it would sell Elo7 two years after buying it for $217 million. Etsy bought Elo7 and Depop at a time when tech valuations were sky-high. E-commerce companies have also faced inflation and a changed online spending environment. Two years after making two high-profile acquisitions, Etsy executives revealed on Tuesday that one did not…
Jefferies CEO Richard Handler says people should embrace the haters in his advice to wannabe leaders. ‘This means you are doing something really right.’
Richard Handler, chief exec of Jefferies, wrote 100 things he wished he knew before becoming CEO. ‘Larger competitors will denigrate, belittle and badmouth you every chance they get. ‘In an email with Insider, Handler explained how naysayers can be a source of “motivation.” When larger rivals start hating on Jefferies, says Richard Handler, CEO of…
I’m an engineer on one of the most innovative teams at Ken Griffin’s Citadel. Here are 7 lessons that have been critical to my rise at the $59 billion hedge fund.
Kristofer Baxter leads a team of about 20 UI engineers at Citadel, a $59 billion hedge fund. His team designs tools used by Citadel employees to help them get the most out of the fund’s tech. This is his story charting his career path and important lessons learned, as told to Bianca Chan This as-told-to…
Leaked email shows Amazon formed a new group to work on the ‘most ambitious’ AI models
Amazon CEO Andy Jassy promoted Rohit Prasad, SVP and head scientist for Alexa, to his direct report. Prasad is now running a newly created AI team at Amazon. The company is rushing to keep pace with OpenAI, Google and Microsoft in the AI race. Insider has learned that Amazon CEO Andy Jassy now has direct oversight of…
Inside TikTok’s pitch to get marketers selling on Shops, and why the biggest brands are wary of investing
US brands are testing TikTok’s shopping feature that competes with Amazon. TikTok Shops charges lower fees than Amazon, but it requires too many resources from brands. Small businesses are more willing to sell on TikTok. According to multiple ad industry sources, TikTok has been trying to convince advertisers to use its Shop feature in the…
Warner Bros. Discovery is making a big shake-up to its ad sales org. Read how its sales chief explained the changes.
Warner Bros. Discovery is shaking up its ad sales organization. The media giant is backing off its sales approach that was controversial with some ad buyers. It’s also expected to make further staff reductions in ad sales as part of the restructure. Warner Bros. Discovery is reorganizing and restructuring its ad sales organization and structure.…
How lip fillers and laser hair removal are plumping up private equity
Private capital investors are pushing into the med spa industry, prompting growth and scrutiny. Sixth Street, Blackstone, and Ares have backed providers of treatments like laser hair removal. A big med spa trade group is monitoring investments’ impact on the rapidly growing industry. Laser hair removal, body contouring, filler injections — people aren’t just talking…
