Maven takes the clout-chasing out of social media as Reddit teams up with OpenAI

Equity

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4.2 • 365 Ratings

🗓️ 20 May 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

The AI news continues this week, and we're kicking things off with OpenAI's deal with Reddit. Per the terms of the deal, OpenAI will get to use content from Reddit like posts and replies to train its AI, and Reddit will get access to some unspecified AI tools. Reddit's stock soared 11% in extended trading following the news. That's not all we talked about on today's episode of Equity. This morning, Rebecca Bellan also walked us through a new social media platform called Maven that wants to do away with likes, followers and clout-chasing in favor of more serendipitous internet exploration. Maven was co-founded by OpenAI alum Kenneth Stanley and is backed by Twitter co-founder Ev Williams. Speaking of Twitter, X.com is officially live as a platform. Annoyingly for Elon Musk, so is Twitter.com. Bellan also covered some fresh cybersecurity consolidation. Israeli security firm CyberArk has purchased Venafi out from Thoma Bravo for $1.54 billion -- that's $1 billion in cash and the rest in shares. Before you go, don't miss the latest Pitch Deck Teardown from Haje Kamps. In today's segment Haje digs deep on Berlin-based startup Goodcarbon's deck. The startup just raised a €5.25 million (around $5.5 million) seed round to make its mark on the big business of carbon credits, and its pitch deck does a great job at showing traction, but is not so great its team slide. Listen to the end to learn more!

Transcript

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0:00.0	Hello and welcome back to Equity, Tech Crunch's flagship podcast about the business of
0:15.1	startups. Today is Monday, May 20th and I'm Rebecca Belon, a senior reporter on the
0:20.2	transportation desk here at Tech Crunch. Not to confuse you with my co-host, Becca's Scutak, who you heard from last week.
0:26.0	Becca and I will be tag-teaming Monday's Equity Podcast,
0:29.0	but you can hear more from me and have the top tech news of the morning
0:32.0	delivered straight to your inbox by
0:33.2	signing up for the Tech Runch Daily newsletter. On today's show we have
0:36.8	open AI teaming up with Reddit, a new social network backed by Twitter's ex
0:41.0	co-founder, more cybersecurity consolidation,
0:44.4	and another pitch deck tear down from Hyacemps,
0:47.0	this time for Berlin-based startup, Good Carbon's Deck.
0:49.8	Let's get started.
0:50.8	First story on our list, Open AI has inked a deal to train its AI on Reddit Data.
0:59.1	Per Open AI's blog post on the matter, the company will get access to, quote, real-time, structured and unique content from
1:05.5	Reddit, aka posts and replies.
1:08.1	In other words, ChatGPT is getting a window into one of the internet's more raw conversational forums.
1:14.2	As part of the deal, Reddit users and moderators will get to access some unspecified new AI-powered
1:20.2	features powered by Open AI, and Open AI will also become a Reddit advertising partner.
1:25.9	According to T.C.'s Kyle Wiggers, quote, Reddit's platform, which has over 1 billion
1:30.6	posts and more than 16 billion comments, figures that grow every
1:34.2	day thanks to its hundreds of millions of active users, is a gold mine for
1:38.3	generative AI companies whose models learn from examples of content like like text and images, to generate new similar content.
	...

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