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#95: OpenAI’s Social Network & Figma’s Potential IPO
Apr 18, 2025
Joining the discussion are Ben Lerer, Managing Partner at Lerer Hippeau Ventures, a key player in shaping New York's tech scene, and Morgan Beller, General Partner at NFX and co-creator of Libra, who brings deep insights into blockchain. They tackle OpenAI's ambitious plans for a social network, the financial complexities of tech startups, and the evolving landscape of venture capital. Plus, they explore the risks of space travel and ponder: would you take a ticket to Mars?
48:05
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Quick takeaways
- OpenAI's plan to develop a social network reflects a trend of consumer internet companies seeking to diversify while filling existing gaps in user experience.
- The venture capital landscape in New York is evolving into a competitive ecosystem, allowing startups to attract more investment through application-based opportunities.
Deep dives
OpenAI's Expansion into Social Networking
OpenAI is reportedly working on creating a social network, which aligns with its rapid growth and aims to monetize its large user base, now surpassing one billion. The shift towards developing social capabilities reflects a trend where successful consumer internet companies look to expand into multiple areas. The reaction to this move brings forth a discussion on whether the world actually needs another social platform, with some arguing that adding new social tools could enhance communication and interaction. The consensus suggests that while there are already many platforms available, the integration of new technologies and user experiences could fill existing gaps.
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