Enrique Lores, who took over as PayPal CEO in March, is putting Venmo into a standalone segment within the company, “making it easier to track its progress or potentially sell the business to another company,” according to a report from CNBC. …
… With no additional funding available to the Company, Spirit had no choice but to begin this wind-down. “For more than 30 years, Spirit Airlines has played a pioneering role in making travel more accessible and bringing people together while driving affordability across the industry,” said Dave Davi… …
… When OpenAI completed its controversial for-profit restructuring in October, it needed Microsoft’s blessing — and in the process of getting that blessing, the two companies struck a new deal. …
Elon Musk officially began his testimony in the trial he has brought against OpenAI CEO Sam Altman and company president Greg Brockman. …
… It’s apparently also considering dramatically restructuring its relationship with Xbox, and hasn’t ruled out spinning it off into a separate company. …
… Musk is calling for a number of remedies, including asking the court to strip both Altman and Brockman of their roles and to unwind OpenAI’s for-profit restructuring.
… This bid happened as OpenAI was restructuring itself so that the for-profit arm could be cleared to go public. In Birchall’s testimony, that bid was made because Musk, Birchall, and others thought Altman might undervalue the nonprofit as the company restructured itself. …
… And earlier this week, The New York Times reported that a major nonfiction book by author Steven Rosenbaum about truth in the age of AI contained numerous fake or misattributed quotes hallucinated by AI tools. “Society is in the process of restructuring itself around a tool that simply doesn’t work… …
… We’re still a public company. It used to be we were a public company that I controlled through super-voting stock, and now we’re a public company that Byron controls through the 52 percent ownership. …
… Some of the damages Musk is calling for in his lawsuit — like the demands to unseat executives and change the company’s business structure — are likely unrealistic. State attorneys general from California and Delaware both blessed OpenAI’s restructuring. …