00:10 | SpaceX’s satellite-to-cell launches - 6 Starlink satellites launched providing satellite to cell service - Text messaging now; voice and data coming later - T-Mobile is US partner - In conversation now with cell providers in Australia, Switzerland, Canada, New Zealand, Chile, Peru, and Japan - Starlink to generate $10b in 2024 revenue - SpaceX is currently completing a tender at $180b 01:16 | Fidelity cuts X 71% to $12.5b - Fidelity cut its X position valuation by 10.7% in Nov 2023 - Fidelity has X valuation down 71.5% since Musk’s purchase at $44b in Oct 2022 - Decline is attributed to loss of ad revenue - X owns 25% of xAI, Musk’s large language model AI solution - xAI is currently in market raising a round and, we believe, the xAI valuation will start to impact X’s valuation in the very near future 02:08 | xAI now a benefit corp - xAI filed as a benefit corporation in Nov 2023 - Anthropic is also a benefit corporation - OpenAI is a non-profit with a for-profit subsidiary - Very interesting governance structures for very important AI companies 02:51 | $5.0b in OpenAI revenue?! - $1.6b in annualize revenue is a 20% increase from the previously announced Oct 2023 number - OpenAI management believes $5.0b in annualize revenue is possible by end of 2024 - Currently closing a tender at $86b and raising a primary round at $100b 03:46 | Customers diversifying AI providers - OpenAI CEO snafu in Nov 2023 has led to customers diversifying AI providers - Anthropic, Cohere, Hugging Face, and other stand to be beneficiaries - OpenAI models currently appear to be deemed best in market 04:48 | OpenAI cutting publisher licensing deals - In discussions with multiple publishers to license data - Recently cut deals with Axel Springer (Politico, Business Insider) and The Associated Press - The New York Times has sued OpenAI which is complicating negotiations with other publishers - We believe NYT lawsuit is a negotiating tactic to receive better terms from OpenAI 05:52 | TikTok + Peloton partnership - Peloton will have dedicated hub on TikTok - Goal is to attract younger users to Peloton - Live classes, original instructor content, celebrity collaborations - TikTok is a division of ByteDance, the largest pre-IPO company globally - ByteDance is in a buyback valuing the company at $268b 07:11 | Pre-IPO +0.02% for week - Week winners: OpenAI +7.68%, ByteDance +3.12%, Brex +0.90%, Cohere +0.85%, Stripe +0.74% - Week losers: Anthropic -6.91%, Databricks -1.88%, Discord -1.68%, Notion -1.48%, Anduril -1.13% - Top valuations: ByteDance $193b (open buyback at $268b), SpaceX $174b (open tender at  $180b), OpenAI $72b (open tender at $86b, open primary round at $100b), Stripe $54b, Databricks $46b lead in current valuation