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Google Duet AI now openly available for enterprise customers at $30/mo/user

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Top stories today:

  1. Google Duet AI now openly available for enterprise at $30
  2. OpenAI's ARR already at $1B+, after $28M in revenue in 2022
  3. Google Chat increasingly looks like Slack, adds AI features
  4. Bitcoin ETF now likely in U.S. after Grayscale wins SEC lawsuit
  5. Apple announces iPhone 15 launch event for Sep. 12

0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).

All times are ET.

1. Google Duet AI now openly available for enterprise customers at $30/mo/user

  • Duet AI integrates generative AI with all Google Workspace apps, for example, making presentations from text documents and summarizing information.

  • Same price as Microsoft's Copilot.

  • Only available for enterprises. Small business and consumer availability “over the coming months.” - 9to5Google, Google

Google Meet will give you summaries and action items, again similar to Microsoft Teams's and Zoom's AI features

2. OpenAI's ARR already at $1B+, after $28M in revenue in 2022

  • 2M+ ChatGPT Plus subscribers, which at $20/mo generate $480M+ in ARR.

  • Enterprise customers like Zoom, Wix, Notion, Stripe, Duolingo, Databricks, Ikea, Volvo, Coca-Cola, and Morgan Stanley generate the bulk of the rest of the revenue. - The Information

Our view: OpenAI's $29B valuation no longer looks crazy expensive, critics, does it?

  • Compounding really is the 8th wonder of the world. OpenAI might be looking cheap 1 year from now.

3. Sidebar is a private community for exceptional leaders with bold goals*

  • Once accepted, Sidebar gives you a Personal Board of Directors, matching you with a small group of brilliant peers.

  • Users can message their group 24/7 and attend fast-paced meetings to solve their biggest challenges at work, faster.

  • Employer reimbursements possible: many Sidebar members get their membership fees covered by their employer.

Why spend a decade finding your people – join Sidebar today. Sign up for the growing waitlist of over 4,000 top senior leaders, and apply to become a founding member. - Sidebar

*Sponsored.

4. Google Chat increasingly looks like Slack, adds AI features

The home screen now combines your DMs and spaces in one place:

  • Spaces now support 500K members, 10x the prior limit.

You can ask Duet AI questions about documents, missed conversations — anything, really

Huddles are quick meetings right in Chat, coming by year-end

Read more: The Verge, Google.

Other major Google announcements from their Next conference

5. Bitcoin ETF now likely in U.S. after Grayscale wins SEC lawsuit

  • An Appeals Court vacated the SEC's refusal of Grayscale's conversion of its $17B Trust into an ETF.

    • This doesn't guarantee approval, as the SEC can now find other motives to reject a Bitcoin ETF. - Bloomberg

GBTC was +17%, narrowing its discount to NAV to 18%, from 50% in December

  • Coinbase stock was +15% for the day. - Decrypt

6. Apple announces iPhone 15 launch event for Sep. 12 at 1 PM ET

Apple event invite.

Expected products include:

  • iPhone 15 lineup with USB-C, thinner borders, titanium edges, action buttons, and better processors and cameras (potentially an iPhone Ultra with 6x periscope lenses).

  • New Watches.

  • AirPods with USB-C. - The Verge

7. Chinese regulators, bad economy stall IPO market

8. Job openings fall more than expected to 8.8M, taking openings/unemployed to 1.5

Read more: Axios, BLS.

9. Meta's Canada news ban has no impact on usage

10. Hurricane Idalia enters West Florida

11. Silicon Valley set to grow over next decades, even as San Francisco falters

12. Interesting tweets, memes, and videos

13. Other headlines

AI

  • Copyright Office opens public comment period for AI issues.

  • Snap launches AI selfie feature “Dreams.”

  • Disney, CNN, Bloomberg, others block GPTBot.

Tech

  • Twitter to once again allow political ads.

  • Youtube to start training courses for creators who violate rules.

  • Apollo.io, sales tech startup, raises $100M at $1.6B valuation.

  • Tesla probed by regulators about hands-free “Elon mode.”

  • UFC, NBA, NFL want “instant” DMCA takedowns.

  • Amazon tests $35 free shipping minimum for non-Prime users.

  • Meta says it purged 1000s of accounts aimed at Chinese propaganda.

Biotech

Business

  • China drafts policy to give private firms more funding.

  • Beijing replies after Commerce Secretary's “uninvestible” comment.

  • CNN expected to name Mark Thompson, former NYT CEO, as CEO.

  • NYT union sends cease and desist letter about 3x week RTO policy.

  • Convicting a Murder series to launch Sep. 8.

  • HP revenue -10% YoY to $13.2B in Q3 FY23.

  • Best Buy revenue -7% YoY to $9.58B in Q2 FY24.

  • Xiaomi revenue -4% YoY to $9.2B in Q2.

Crypto

  • Robinhood, Jump no longer have partnership: source.

  • Tether using Bahamas-based Britannia for USD as U.S. banks cut ties.

  • SBF's complaint about too many discovery docs “misleading”: DOJ.

U.S. politics

  • Drug price controls hurt innovation, GOP aims to argue.

  • Vivek attacks FDA's 10-year approval process.

    • Trump open to Vivek as VP.

  • Trump federal election case: a look at trial, delay strategies.

  • 14th Amendment efforts to keep Trump off ballot unlikely to succeed.

World

  • Putin to visit Beijing in Oct., 1st foreign trip since ICC arrest warrant.

  • Russia will not probe Prigozhin plane crash under international rules.

  • Putin not to attend Prigozhin’s funeral.

  • Kyiv intercepts most missiles fired overnight, 2 dead.

  • Saudis offer to resume Palestinian funding, in step towards Israel deal.

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