Flexport cuts 20% of staff, OpenAI generating revenue at a $1.3B annualized rate

Flexport will officially cut 20% of its staff in an attempt to return to profitability by the end of 2024 - Link

The Information sources: OpenAI is generating revenue at a $1.3B annualized rate, implying it surpassed $100M in revenue per month, up 30% from the summer - Link

Reuters sources: OpenAI is planning on introducing developer updates on 11/6, including memory storage-based cost cuts and vision capabilities - Link

Character.AI launched Character Group Chat, which allows paid users to create group chats featuring a mix of humans and AI characters - Link

Squarespace. Turn your idea into a new website! Go to Squarespace.com/TWIST for a free trial. When you're ready to launch, use offer code TWIST to save 10% off your first purchase of a website or domain.

Rewind AI CEO Dan Siroker joins Jason to discuss the new Rewind Pendant AI device that can record conversations (1:08), debate privacy and ethical concerns around covert recording (9:32), and much more! - Link

FT sources: HongShan (fka Sequoia China) is seeking global investments in either startups targeting China's market or founded by international Chinese entrepreneurs as China’s domestic tech industry slows down - Link

Cleanlab, a startup building an automated data labeling platform for AI datasets, raised a $25M Series A co-led by Menlo Ventures and TQ Ventures at a $100M valuation - Link

The IRS sent Microsoft a Notices of Proposed Adjustment for an additional $28.9B in tax payments due to allocated profits between countries and jurisdictions from 2004-2013; Microsoft plans to appeal - Link

Automattic added a plug-in that allows users of decentralized social networks like Mastodon to follow Wordpress.com - Link

This Week in Startups

E1828: Debating personal AI hardware with Rewind AI’s Dan Siroker

E1827: NEWS: Ackman's SPARC, Unity CEO steps down amidst dev revolt, AI operating costs skyrocket

E1826: State of early-stage VC, finding PMF, Caroline Ellison testifies & more with Zach Coelius

E1825: Bill Gurley and Sunny Madra talk open-source vs. proprietary AI

E1824: NEWS: Breaking down SBF's trial and the downfall of FTX

Embroker - Get an extra 10% off insurance with code TWIST

Notion - Try Notion Projects for free today

NetSuite - Download your free KPI Checklist