OpenAI’s New Content Deals + Latin America’s Most Valuable Financial Institution
Jun 3, 2024
40:04
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The podcast discusses OpenAI's content deal with Vox and Nubank's success as Latin America's top financial institution. They explore the challenges in diversifying oil companies and the emergence of branchless fintech with super app capabilities. Also, insights on upcoming economic reports and Salesforce stock decline.
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Quick takeaways
OpenAI expands content deals with media companies like Vox to enhance ad platform and commerce products.
Nubank becomes Latin America's most valuable financial institution by market cap, pioneering financial inclusion with digital banking platform.
Deep dives
Fundrise Innovation Fund Democratizes Venture Capital
The Fundrise Innovation Fund is revolutionizing access to venture capital by offering individual investors the opportunity to invest in cutting-edge BIPO technology companies that were traditionally limited to institutional investors. With a $100 million portfolio, the Fundrise Innovation Fund aims to democratize investments that were previously exclusive to a select few, providing a groundbreaking opportunity for a wider range of investors.
New Bank Emerges as Latin America's Most Valuable Financial Institution
New Bank, a Brazilian FinTech company, has surged to become Latin America's most valuable financial institution by market cap, surpassing longstanding giants like Itao. With a 40% rally in shares this year and a market cap of approximately $58 billion, New Bank represents a success story of market expansion, catering to the previously unbanked population. Having amassed over 100 million customers across Brazil, Mexico, and Colombia, New Bank's digital banking platform has pioneered financial inclusion in the region.
OpenAI Strikes Content Deals with Leading Media Outlets
OpenAI recently inked content licensing agreements with prestigious media companies like Vox Media and The Atlantic, expanding its reach in digital content. These collaborations signify a strategic move by OpenAI to enhance its presence in the media landscape, with specific arrangements like Vox using OpenAI's technology to enhance its ad platform and commerce products. These partnerships showcase OpenAI's commitment to innovation and content distribution, forging new pathways in the media landscape.
Salesforce encountered weaker-than-expected first-quarter revenue growth, leading to a 22% drop in stock value and the first revenue projection shortfall in 18 years. Despite this decline, Salesforce maintains a strong fundamental business with over $9 billion in revenue and double-digit growth. The stock market's reaction highlights the pressure on tech companies to meet high growth expectations, particularly in the AI sector, where investors seek transformative outcomes akin to industry leaders like Microsoft and Amazon.
Scott shares his thoughts on OpenAI’s content deal with Vox and if it means ChatGPT will now be training on this podcast’s content. Then Scott and Ed break down why Nubank’s shares have rallied so much this year, and what barriers stand in the way of it becoming a super-app.