OpenAI may change its charter, the government is worried about social media, and the revival of fake meat

Top News

• OpenAI could become a benefit corporation, the Information reports. The company’s non-profit/for-profit structure has been a sore point in recent years, with the board of its non-profit arm having too much power in the eyes of some. A move to a benefit corp setup could resolve the power-sharing issue by giving more of it to the folks working to make money at the company.

• The U.S. Surgeon General called for warning labels for some digital services, stating that “social media is associated with significant mental health harms for adolescents.” Dr. Vivek H. Murthy also called for congressional action regarding social media practices and data disclosures.

• Startups are not giving up on fake meat, a new venture round indicates. Tender Food’s recent $11 million Series A led by Rhapsody Venture Partners will see the startup expand on its technology of “spinning plant protein fibres, including soy proteins, similar to the way cotton candy is made, to create structured cuts of meat,” TechCrunch writes. (See, not all startups are AI companies today!)

TWiST500

A big thanks to everyone who sent in space startups that they think are truly shooting for the stars. More to come there on the next TWiST500 segment on the show, which should come this week.

Here’s the latest from TWiST500 members:

• Why Shein is looking to list in London instead of the United States: The Observer reports that the size of Shein’s potential listing could help it get past regulatory hurdles in the UK after it ran into friction in the United States over its historical ties to China.

• Improving regulatory winds for crypto could bolster Circle: A recent op-ed by former House Speaker Paul Ryan arguing that “dollar-backed stablecoins are becoming an important net purchaser of U.S. government debt,” which he reckons could help with the United States’ fiscal situation. That sounds a bit far-fetched, but with current candidates for the nation’s highest office coming ‘round on crypto, Circle could be targeting an IPO at just the right moment.

• Just how good is Harvey? The legal-focused AI company made it onto the TWiST500 thanks to its December-era Series B worth $80 million, its AI tech, and its focus on a vertical industry that is likely a good place for some AI-powered automation. But what do law firms who use it say? There’s good news and bad news, Law.com reports.

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This Week in Startups

E1966: What is Unreasonable Hospitality? Former hospitality boss Will Guidara came on the pod to chat with Jason about what he learned from getting his former restaurant to the number one spot in the world. He learned a lot about customer and staff care, much of which can be applied directly to founders and startups.

E1965: Jason and Alex dug into Waymo’s self-driving update for its hundreds of robotaxis, how much more Apple is worth thanks to its AI news, the good news on inflation and rates for startups, and finally, the startups expected to list next.

E1964: Following Apple’s massive AI download at 2024’s WWDC, Jason and Alex discuss Apple Intelligence, Siri’s upgrades, why the company’s deal with OpenAI is so interesting, and more. Consumer AI is heating up!

The TWiST500 newsletter is the new, updated, and improved TWiST Ticker.