Friday Feels: Lyft, Shopify and Neuralink Bring the Womp Womp
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1. Geoffrey Hinton: The Debbie Downer We Don’t Need Right Now
Geoffrey Hinton, known as the "Godfather of A.I." a.k.a. “a major supernerd”, has warned of the possibility of A.I. taking over the world and pushing humanity towards extinction. Hinton added that A.I. could soon surpass the human brain's capacity for information, leading to a takeover that could spiral out of control. While some experts disagree with Hinton's concerns, the Biden administration is taking no chances and is rolling out a new set of regulations to ensure that A.I. is developed responsibly, without endangering the safety and rights of Americans. All doom and gloom over here, thanks Hinton!
2. Laid-Off Shopify Employees Forced to Respawn in Tough Job Market
Shopify lays off workers like they're irrelevant characters in a video game. CEO Tobi Lütke says the layoff of 20% of their global workforce was necessary to focus on the "main quest" of the company, leaving employees who worked on "side quests" out of a job. These Shopify employees were probably too busy searching for rare items and secret Easter eggs to realize they were about to be laid off. Lütke's callous message was criticized for lacking empathy towards those affected, who were left feeling like expendable characters, though they had nice severance packages in hand.
3. Experts Question Neuralink's Board Appointment: Are They Testing Animals or Employees' Loyalty?
Neuralink, the brain-implant start-up founded by Elon Musk, has been caught appointing its own employees to oversee animal testing - a move that has left many scratching their heads about potential conflicts of interest. US federal law requires such boards to ensure animal welfare and high research standards, but experts have criticised the company for giving 19 of the 22 board seats to Neuralink employees. This is because the employees on such panels focus on single breakthrough products and are typically compensated with volatile company shares. Successful animal trials are critical for the company’s overall performance and their ability to gain federal approval for human trials and brain implant commercialisation. The incentives are misaligned... we just can't imagine Musk caring though.
4. Shipment Delays No More!
Pando, the tech start-up that promises to revolutionize the supply chain industry, has just raised $30 million in Series B funding round led by Iron Pillar and Uncorrelated Ventures, bringing Pando's total valuation to $45 million. With their state-of-the-art technology, Pando consolidates supply chain data and offers a suite of tools and apps to help manage everything from freight procurement to dispatch planning. Sexy, huh? And since every company under the sun needs to use A.I., Pando uses machine learning for detecting anomalies and anticipating risk; they can predict supply chain events before they even happen.
5. Lyft Reports Strong Q1 Earnings, Investors Respond with Collective Yawn
Lyft reports revenue of $1 billion in Q1, but don't let that distract you from the fact that its Q2 revenue forecast was weaker than expected, sending investors into a 15% plunge in after-hours trading. In an attempt to stay competitive, the ride-hailing company has also announced a management shake-up and plans to cut a quarter of its workforce. Good luck to new CEO David Risher, who says the company is at an "inflection point as people start going out again”. An insightful comment from Risher that shows how behind he is. Hate to break it to you dude, but we’ve been “back to going out” post-pandemic for a few years now. Compared to Uber, Lyft is the kid who's still trying to catch up during recess.