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Anthropic’s New CFO Chosen 🍭

Today’s Menu 🥠

  • HBO Doc Exposes Executive Missteps
  • Netflix Went From Chasing HBO To WWE
  • Anthropic’s New CFO Chosen
  • Synapse, Backed By A16Z, Collapses


Fast Snacks 🥡

xAI Valued At $24 Billion After $6 Billion Raise
Elon Musk’s xAI has raised $6 billion, boosting its valuation to $24 billion, with the funds set to accelerate product development and infrastructure…

ChatGPT Fails At Programming Questions
A Purdue University study found that ChatGPT answers computer programming questions accurately only 52% of the time, with many users failing to spot errors…

AI Coding For Beginners [partner]
BuildUnlock the secrets of AI with hands-on courses designed to teach you how to create and deploy machine learning algorithms from the ground up…


HBO’s MoviePass Doc Exposes Executive Missteps

HBO’s MoviePass, MovieCrash documentary by Muta’Ali dives into how MoviePass went from a hit to a bankruptcy case.

It reveals how C-suite executives ignored warning signs and burned through millions in venture capital, all in pursuit of rapid growth.

The doc highlights Mitch Lowe, who joined as CEO in 2016, bringing his flashy leadership style but ultimately steering the company into disaster.


Netflix Went From Chasing HBO To Signing With WWE

Netflix co-CEO Ted Sarandos regrets his 2013 claim about becoming “HBO faster than HBO can become us.” .

Sarandos highlighted Netflix’s need for diverse content, not just prestige shows. Despite competition from Disney, Warner Bros. Discovery, and Comcast, Sarandos believes Netflix has proven its programming prowess.

With new ventures like ads and paid password sharing, Netflix adapts to the evolving streaming market focused on revenue growth to become more like the giants of yesteryear.

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Krishna Rao Joins Anthropic As CFO

Indian American finance leader Krishna Rao is now Anthropic’s Chief Financial Officer.

Rao comes from Fanatics Commerce, where he was CFO. He also led finance at Cedar, and previously, he helped Airbnb navigate the pandemic and raise over $10 billion, including through its IPO.

Rao’s background includes roles at Blackstone and Bain & Company, and he holds a JD from Yale and an AB in economics from Harvard.


Everything Else You Need To Know

  • Infra.Market Expansion: Infra Market, an Indian startup aiding construction firms in procuring materials, secures a new $50 million investment from MARS Unicorn Fund to expand its operations overseas.
  • Ledger Crypto Wallet: Ledger begins shipping its new high-end crypto wallet, the Ledger Stax, featuring a curved E-Ink display designed by Tony Fadell.
  • Cloover’s Solar Financing: Cloover, a Europe-based startup, raises $108.5 million in debt and $5.5 million in seed funding to help small solar installers offer financing.
  • Synapse Collapse: Synapse, a fintech startup backed by a16z, has filed for Chapter 7 bankruptcy, potentially impacting up to 100 fintechs and 10 million consumers.
  • Google AI Lawsuit: Google faces a class-action lawsuit accusing it of “secretly stealing everything ever created on the internet” to train its AI chatbot Bard, including copyrighted materials and personal data.
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Anthropic's New CFO Chosen