This Week in Startups Coinbase cuts 20%, Microsoft to invest $10B into OpenAI & Ascend Elements CEO Mike O’Kronley | E1654
5 snips
Jan 10, 2023 Mike O’Kronley, CEO of Ascend Elements, leads the charge in sustainable battery materials from recycled lithium-ion batteries. He discusses the vital role recycling plays in the energy transition, highlighting how it impacts electric vehicle production. The conversation shifts to innovations in climate tech, including geoengineering proposals like those from Make Sunsets. O’Kronley emphasizes the balance between technological advancement and sustainability, while addressing the urgent need for ethical practices in the rapidly evolving battery industry.
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The Rule of Three
- Three co-founders is the ideal number for a startup.
- This allows for one founder to leave without jeopardizing the company, as is common.
Buying a Logo
- VCs might buy secondary shares in OpenAI to enhance their portfolio image.
- This "buying a logo" strategy prioritizes appearances over actual company involvement.
Round Tripping
- Microsoft's investment in OpenAI might involve "round tripping", where OpenAI's spending on Azure inflates Microsoft's cloud computing revenue.
- This raises concerns about potential conflicts of interest and artificial growth.
