What Is Freevee? 

For those who aren’t familiar with Freevee, it’s an Amazon owned, ad supported, premium, free streaming service that offers a 24/7 variety of TV shows, movies, and original content. It was previously known as IMDb TV. Freevee can be watched via an app on Amazon devices like Fire TV and Echo Show, smart TVs from brands like LG and Samsung, streaming media players including Roku and Apple TV. It can also be watched on Xbox and PlayStation gaming consoles, mobile devices with Android and iOS apps, and directly through web browsers on PCs and laptops.

Amazon Live 

Amazon Live was originally launched on 7th February 2019. It’s a live streaming service where influencers and brands can promote and demonstrate products available on Amazon in real time, similar to a digital shopping channel. The platform allows viewers to interact with hosts through a live chat feature and directly purchase products featured in the streams.

How Popular Is It? 

Amazon says that in 2023, more than a billion customers in the US and India watched Amazon Live streams across desktop, mobile, and Fire TV.

Easy To Buy 

Amazon also says that one of Amazon Live’s unique benefits is how customers can “easily add items to their shopping cart and complete their purchases in just a few clicks without ever leaving what they’re watching”. 

Now On Prime And Freevee 

Wayne Purboo, vice president of Amazon Shopping Videos, announced the launch of Prime and Freevee saying “We are excited to bring customers more ways to shop with their favorite Amazon Live creators and brands on our premium streaming services”. Mr Purboo described the reason for extending the reach of Amazon Live Fast saying: “With the new ‘Amazon Live’ FAST Channel on Prime Video and Freevee, we’re making shoppable entertainment more accessible, interactive, and engaging than ever before.” 

How It Works 

With Amazon Live FAST, while watching the FAST Channel, customers can open the Amazon Shopping app on their phone, and type “shop the show” into the search bar. This enables them to be instantly directed to a shopping carousel highlighting the featured products they see on TV in real time.

Why?

Amazon says that with 75 per cent of adults in the US looking at a mobile device while watching TV, the “shop the show” technology means customers are given a seamless, interactive, and convenient “shopping experience”. In other words, it’s incredibly easy to buy on impluse!

Creator and Brands 

Amazon Live FAST on Prime Video and Freevee will feature customers’ most watched and most loved content and will also provide an opportunity for creators and brands. Amazon says its creators “bring their unique style, expertise, gossip, and authenticity to each stream, making the experience even more engaging and entertaining.” 

The experience that Amazon is trying to create for customers can be summed up by Paige DeSorbo, co-host of Giggly Squad and described as a TV personality and fashion tastemaker, who says: “Watching Amazon Live is like shopping with a friend who is also a personal stylist.” 

What Does This Mean For Your Business? 

Amazon’s launch of Amazon Live FAST on its two premium channels, Prime Video and Freevee, is a move designed to extend a successful format of live streaming and ad supported content. This move should help Amazon to capture an even larger portion of the digital advertising market while boosting user engagement across its platforms.

For content creators, this could open up new opportunities for real time audience engagement, which could significantly enhance interaction and visibility. Also, the direct integration of streaming with purchasing options, makes it incredibly easy for customers to buy on impulse, and offers a lucrative new channel for monetisation through advertising revenue shares and increased sales conversions. Creators can also benefit from Amazon’s vast customer base, potentially expanding their reach well beyond traditional or social media channels.

For competitors, Amazon’s entry into the FAST channel market is a heightening of competition, challenging established players in live streaming and ad supported content like YouTube, Twitch, an American interactive video live streaming service, and other streaming services. These competitors may now face increased pressure to innovate and improve their offerings in terms of content quality, user experience, and pricing models to retain and grow their user bases. Also, Amazon’s extensive data capabilities and its seamless integration with its retail and advertising businesses mean it’s now an immensely powerful contender for attracting ad spends.

This could result in the shifting of advertising money away from traditional TV and other digital platforms, compelling content creators and competitors alike to adapt to these rapidly changing market dynamics. Amazon’s strategy not only aims to diversify and enrich its content offerings but also to further integrate its ecosystem, making it a comprehensive hub for entertainment, shopping, and social interaction with no need to go anywhere else, which could reshape the landscape of digital streaming and advertising.

The post Amazon Launches Amazon Live FAST Shopping Channel appeared first on Quayside Technical Services.

Ousted 

38 year old Sam Altman, who helped launch OpenAI back in 2015, firstly as a non profit before its restructuring and investment from Microsoft, has become widely known as the face of OpenAI’s incredible rise. However, it’s been reported that following some video conference calls with OpenAI’s board of six members, Mr Altman was removed from his role as CEO, and from the board of directors. Also, OpenAI’s co-founder, Greg Brockman, was removed from his position as chairman of the board of directors, after which he resigned from the company. Both men were reportedly shocked by the speed of their dismissal.

Why? 

The reason given in a statement by OpenAI for removing Mr Altman was: “Mr. Altman’s departure follows a deliberative review process by the board, which concluded that he was not consistently candid in his communications with the board, hindering its ability to exercise its responsibilities. The board no longer has confidence in his ability to continue leading OpenAI.” 

The company also said: “We are grateful for Sam’s many contributions to the founding and growth of OpenAI. At the same time, we believe new leadership is necessary as we move forward.” 

Sam Altman Says

Mr Altman, who since the introduction of ChatGPT has had many public appearances, interviews, and statements, most recently at the UK’s AI Safety Summit, and many people see him as the generally well liked, public face of AI, has not publicly elaborated on what he may not have been candid about.

Elon Musk was one of the founding co-chairs of OpenAI. Altman commented on Musk’s X platform that: “I loved my time at OpenAI. it was transformative for me personally, and hopefully the world a little bit. Most of all I loved working with such talented people. Will have more to say about what’s next later.” 

Intriguingly, there were also reports at the time that Mr Altman and Mr Brockman may have been willing to return, if the board members who ousted Altman stepped down. Chief scientist Ilya Sutskever has been singled out in some reports as person who led the move to oust Altman.

Theories  

The sudden nature of the sacking and the vagueness of OpenAI’s statement, plus some of the events afterwards have led to speculation by many commentators about the real cause or reason for ousting Mr Altman. Leading theories include:

Mr Altman may have either told the board about something they didn’t like, not told something important, and perhaps been caught out, or may have been outed about something in comments made by other parties. Although this is the board’s version, no clear evidence has been made public. However, just prior to his ousting, in TV interviews, Microsoft’s CEO Satya Nadella is reported to say that whether Altman and OpenAI staffers would become Microsoft employees was “for the OpenAI board and management and employees to choose” and that Microsoft expected governance changes at OpenAI. He’s also quoted as saying that the partnership between Microsoft and OpenAI “depends on the people at OpenAI staying there or coming to Microsoft, so I’m open to both options.”

It’s also been reported that two senior OpenAI researchers had resigned and that they, and possibly hundreds of OpenAI employees, may join Microsoft, or that Altman may have been planning to start a new company with the open OpenAI employees who’d already left: which the board may have discovered.

Also, shortly after the whole indecent, Microsoft announced that it had hired Altman and Brockman to launch a new advanced AI research team with Altman as CEO, which may indicate that Altman had already been in talks with Microsoft’s CEO Satya Nadella about it, which may have been what was discovered by OpenAI’s board.

As hinted at in the board’s statement, “OpenAI was deliberately structured to advance our mission: to ensure that artificial general intelligence benefits all humanity,” there may have been an unresolved issue over bad feelings that the company had strayed from its initial ‘non profit’ status. Some commentators have pointed to Elon Musk taking this view and his apparent silence over Altman’s ousting, as possible evidence of this.

Another possible reason for ousting Altman is a board power struggle. Evidence that this may be the case includes:

• Mr Altman and Mr Brockman saying they’d be wiling to return if board members who ousted Altman stepped down.
• Following his sacking, OpenAI investors trying to get Altman reinstated.
• Altman and Microsoft and Thrive Capital, leading shareholders in OpenAI, reportedly wanting the entire board to be replaced.
• Reported huge support for Altman among employees.

Interim CEOs 

Shortly after Altman’s ousting, OpenAI replaced him with two interim CEOs within a short space of time. These were:

• Firstly, OpenAI’s CTO Mira Murati. With previous experience in working at Goldman Sachs, Zodiac Aerospace, Tesla, and Leap Motion, Murati was seen as a strong leader who sees multimodal models as the future of the company’s AI.
• Secondly, the current interim CEO is Emmett Shear, the former CEO of game streaming platform Twitch. Mr Shear said on X about his appointment: “It’s clear that the process and communications around Sam’s removal has been handled very badly, which has seriously damaged our trust,” adding that: “I took this job because I believe that OpenAI is one of the most important companies currently in existence.” 

Mr Shear’s Plans 

It’s been reported that Mr Shear plans to hire an independent investigator to examine who ousted Altman and why, speak with OpenAI’s company stakeholders, and reform the company’s management team as needed.

Mr Shear said: “Depending on the results everything we learn from these, I will drive changes in the organisation – up to and including pushing strongly for significant governance changes if necessary.” 

What Does This Mean For Your Business? 

Sam Altman has become known as the broadly well liked face of AI since the introduction of OpenAI’s hugely popular ChatGPT chatbot one year ago. He’s extremely popular too with OpenAI employees, and other major tech industry figures, including Emmett Shear, who is now OpenAI’s interim CEO and Google boss Eric Schmidt who has described Mr Altman “a hero of mine”. Also, Mr Altman is very close to OpenAI’s major investors Microsoft, and has already been snapped up by Microsoft, along with Brockman, as head of a new AI research team there.

Altman’s rapid ousting from OpenAI has not gone down well and all eyes appear to be focused on some of the other members of OpenAI’s board, plus the power struggle that appears to have been fought, and what kind of management and governance is needed at the top of OpenAI now to take it forward. It’s still early and it remains to be seen what happens at the top following the investigation by interim CEO Shears. Microsoft will doubtless be very happy about having Altman on board which could see them make their own gains in the now highly competitive generative AI market.

With Altman gone, it remains to be seen how or if OpenAI’s products and rapid progress and success is ultimately affected.

The post OpenAI’s CEO Sam Altman Fired appeared first on Quayside Technical Services.

Startup Accelerator and Venture Capital Firm 

Y Combinator is a well known startup accelerator and venture capital firm based in the US. It was founded in 2005 by Paul Graham, Robert Morris, Trevor Blackwell, and Jessica Livingston. Y Combinator is often referred to as an “accelerator” because it provides a comprehensive programme designed to help early stage startups grow and succeed.

Y Combinator says so far it’s funded 4,000 startups with a $600 billion valuation.

How? 

Startups accepted into the Y Combinator programme receive seed funding, typically in exchange for equity, and participate in a structured three month programme. During this time, they receive mentorship, guidance, and access to a network of experienced entrepreneurs, investors, and industry experts. Y Combinator also provides office space and various resources to support the development of the startups.

The program culminates in a Demo Day, where each participating startup presents its progress and business plan to a large audience of potential investors. Demo Day offers a valuable opportunity for startups to secure additional funding and establish crucial connections within the investment community.

Who? 

Over the years, Y Combinator has supported and nurtured numerous successful startups, including Stripe, Airbnb, Instacart, DoorDash, Cruise, Twitch, Coinbase, PagerDuty, Faire, Brex, Deel, Rippling, reddit, Gusto, Flexport, Dropbox, Razorpay, Scale AI, GitLab, Benchling, Fivetran, Rappi, Checkr, Zapier, Whatnot, Podium, Webflow, Zepto, Groww, Segment, and others.

Its reputation and track record have made it one of the most prestigious and sought after startup accelerators globally, attracting entrepreneurs from various industries and sectors.

The Goal 

Y Combinator says its goal is to “help startups really take off” and to help them “to be in dramatically better shape three months later”. It defines being in better shape as having a better product with more users, and to having more options for raising money.

Influence 

Y Combinator and its founders, such as Paul Graham, have become influential voices in the startup ecosystem. They have shared valuable insights, advice, and thought provoking essays on entrepreneurship, technology, and startup culture. Y Combinator’s blog and the published writings of its founders have gained widespread recognition and are considered valuable resources for aspiring entrepreneurs.

Expansion and Global Reach 

Y Combinator has expanded its reach beyond Silicon Valley to accept startups from around the world, including international teams, into its programme. This global perspective has allowed Y Combinator to tap into a diverse range of innovative ideas and entrepreneurs from different regions, making it a truly influential force in the global startup ecosystem.

In The News 

In May last year, Y Combinator made the news when it sent a letter to its portfolio founders (its ‘who’s who’ of startup successes) entitled “Economic Downturn” which warned them to “plan for the worst” due to economic slowdown, inflation, rising interest rates and geopolitical unease. The letter painted a bleak picture to startups saying, “it’s your responsibility to ensure your company will survive if you cannot raise money for the next 24 months.” 

Startups

Startups are generally characterised by innovation and high growth potential, but they face funding challenges and rapid cash burn. Despite these hurdles, investors find startups attractive due to their potential for high returns and the opportunity to be part of groundbreaking ventures.

What Does This Mean For Your Business?  

The presence and success of Y Combinator, a renowned startup accelerator and venture capital firm, highlight important considerations for UK businesses. Startups, with their innovative ideas and high growth potential, face funding challenges and rapid cash burn. However, the allure of startups lies in their potential for significant returns on investment and the opportunity to participate in groundbreaking ventures.

For UK businesses, this highlights the importance of fostering a culture of innovation and embracing the potential for high growth. By encouraging and supporting startups within the local ecosystem, businesses can tap into the vibrant entrepreneurial spirit and benefit from collaborations with innovative startups.

Moreover, it is crucial for businesses to consider the funding landscape and explore ways to support startups. This could involve establishing partnerships or mentorship programmes, providing resources or office space, or even considering investment opportunities in promising startups. By nurturing and engaging with startups, businesses can gain access to fresh ideas, talent, and potential future collaborations.

Judging by some of the well known names listed as being helped by Y Combinator, it’s clearly had some success in helping them but, as all businesses know, and as Y Combinator warned its customers just last year, these are very tough economic times that will make it very challenging for today’s startups, and it’s currently more a matter of just focusing on survival for those that can’t raise the necessary funding in the near future.

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