Gm. Because the SVB story wasn’t enough of a news craze, OpenAI released GPT-4 on Tuesday. We’ve got you covered below.

POLLS

SVB collapsed hard. Twitter went crazy. Here’s the poll from Monday

“Unfortunate series of events mostly related to what's happening on a macro level with rising interest rates, inflation, etc. Doesn't seem like SVB was doing anything sketchy, unlike SBF.” The fact you have “quant” in your email address makes me think you must be smart so OK I’m in.

“The Fed keeps raising rates....” Ugh.

“Classic example of nash equilibrium - driven my VCs who knew most other VCs are likely to act selfishly, so trust broke down” VC wouldn’t be fun without a little mass hysteria right!

Thankfully, this whole SVB thing turned out basically alright.

So let’s move on with our lives and onto the next poll:

FRESH POWDER

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AI

GPT-4 Is Here

Lost in last week’s SVB shitstorm was a piece of news that AI enthusiasts have been waiting years for.

GPT-4, the next version of the now legendary GPT-3.5 large language model, is apparently scheduled to come out this week.

And it was an unlikely source who got the first scoop.

The GPT-4 Rumors

It wasn’t TechCrunch, the Information, or Ben’s Bites who broke the GPT-4 news. Instead, it was German tech reporter Silke Hahn.

Microsoft Germany CTO Andreas Braun said the release of GPT-4 was “imminent”, and would include multimodal models. What this means is that GPT-4 would be able to accept text, audio, image, and video inputs.

Now, in the initial writing of this article, I was skeptical of Hahn’s claims:

• Why did Microsoft Germany make the announcement, not Microsoft US?

• Why did Microsoft make the announcement and not OpenAI?

• Why hasn’t there been any official announcement?

Well, in the ~2 hours since I initially wrote this, those questions have been answered:

2 Hours Later … It’s Official

That’s because OpenAI has officially announced the release of GPT-4.

According to the soldiers of House Altman, GPT-4 is:

• A large multimodal model (accepting text and image inputs).

• Exhibits human-level performance on various professional and academic benchmarks.

• Is much more factual than GPT-3.5.

• Is much less unhinged than ChatGPT.

GPT-4 is available with ChatGPT+ and API access. Happy chatting.

BIG TECH

Meta Lays Off 10,000

Zuck had to be the bad guy once again.

He’s calling this series of layoffs the Year of Efficiency in hopes of 1) making Meta a better tech company and 2) improving its financial performance.

In this memo, Zuck laid out a timeline for the next couple months.

He also gave a few principles regarding building a better tech company:

1. Flatter is faster: “hierarchy adds latency and risk aversion in information flow and decision-making”. Don’t tell Google this.

2. Leaner is better: “Since we reduced our workforce last year, one surprising result is that many things have gone faster. In retrospect, I underestimated the indirect cost of lower priority projects.” Hm sooo is Meta finally moving away from the metaverse?

3. Keep technology the main thing: “We are a technology company, and our ultimate output is what we build for people. Everything else we do is in service of that.” Idk I heard the food is good at Meta too.

4. Invest in tools to get more efficient: “We’re focused on the long term. That means investing in tools that will make us most effective over many years, not just this year.” You said long term, I heard ChatGPT, ChatGPT, and ChatGPT.

5. In-person time helps build relationships and get more done: “We’re committed to distributed work. That means we’re also committed to continuously refining our model to make this work as effectively as possible.” By in-person, you mean VR, right?

Well for the first time in a few years, I might actually be bullish on Meta again.

QUICK HITS

Seed Round

Stat: Hundreds of Millions of Dollars: How much Microsoft spent on its ChatGPT supercomputer. That thing better be like Skynet for that price.

Story we're watching: Tesla has significantly ramped up hiring for the production of its Cybertruck. We’ve been waiting on this mythical Cybertruck for years now. Maybe the time is finally near.

Rabbit hole: Influencer Parents and Their Children Who Had Their Childhood Turned Into Content (Vogue)

WHAT ELSE IS GOING ON

• Meta has given up on NFTs.

• Y Combinator is scaling back.

• Apple is working on turning AirPods into a hearing aid.

• Starlink’s satellite-to-cell phone service is now being tested.

THREE LIES AND A HEADLINE

News is so weird these days. Three of these headline are fake stories from The Onion while one is actually true. Can you spot the truth amongst the fakes?

A. Browns Impressed With Jalen Carter’s Reckless Disregard For Life

B. Your Annoying Roommate Is Slaying On TikTok

C. Mitch McConnell Bankrupted By 3-Day Stay In Hospital

D. MrBeast Re-Blinds 1,000 People

LAYOFFS TRACKER

trueup.io/layoffs

Notable layoffs this week

Y Combinator: 17 people (20%)

Gamesloft: 100 people

GoTo: 600 people

FOUNDERS CORNER

The best resources we came across this weekend that will help you become a better founder, builder, or investor.

🌊 I’m currently reading Patagonia founder Yvon Chouinard’s book Let My People Go Surfing. It’s full of great stories and bits of business wisdom.

🐦 Need a Twitter scheduler? Check out Tweet Hunter. I run my Twitter and all my clients’ Twitters via Tweet Hunter. Highly recommend.

🍔 Want to learn how to host events? Check out Nick Gray’s book The 2-Hour Cocktail Party. Gray is 100% the host with the most in Silicon Valley.

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3 Lies Answer:

B.