1) OpenAI CEO Sam Altman said he thinks his company, which operates as a capped-profit organization, could eventually capture $100B, $1T, or maybe even $100T of the world’s wealth through the development of artificial general intelligence (AGI). OpenAI would then distribute money back to the people to make up for the fact that it may move the price of human labor to $0. Carry on, folks — nothing dystopian to see here.
2) Twitter revenue appears to still be way down. The site’s top 10 advertisers spent $71m from September to October. Over the past two months, they have spent just $7.6m. Musk’s company continues to push paid verification — an idea apparently so unpopular, even the King said he isn’t interested.
3) Apparently, there are college counseling consultancies that cost more than the average house. Command Education reportedly charges up to $750k to start helping seventh-graders get into elite schools, and up to $500k for ninth-graders. A reminder for parents shelling out that cash: save up a little extra for your child’s eventual therapists.
4) Crashing down to earth, Virgin Orbit — valued at ~$4B in 2021 — is now worth ~$74m, and has halted operations and laid off most of its staff after its satellite launching business failed to generate enough revenue.
5) In 2019, the top 25 Latin music tours grossed $251.3m across 2.8m tickets. In 2022, the top 25 grossed $990.8m across 8m tickets. Bad Bunny alone grossed $373.5m of that. Not bad, Bunny.