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Angel Investor (Individual)

Investments

22

Portfolio Exits

2

About Greg Brockman

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Latest Greg Brockman News

Do you want to create a startup with OpenAI? Start here

Jan 11, 2024

Start here Eleon 12 mins ago 182 OpenAI’s impressive tech stack has led to a wave of startups building on its models and offerings. This is a popular topic on TechCrunch+, where columnists spend a lot of time discussing how startups can take advantage of OpenAI. The following subscriber-only articles should serve as a foundation for founders building an AI startup on or off the OpenAI platform. As Haje Jan Kamps writes, despite OpenAI’s attractive packaging, there is no substitute for a sustainable company with a solid, self-sustaining product. Dima Kovalenko goes even further, explaining that startups need to add value to AI beyond ChatGPT integration. As he writes, venture capital firms are already overwhelmed by the influx of “ChatGPT for X” startups, calling them solutions unlikely to survive. So what should founders do? TechCrunch’s Ron Miller sees OpenAI’s management crisis as an opportunity for challengers to rise again and for startups to avoid the dangers of vendor lock-ins. Chris Ackerson, former member of the IBM Watson team and now VP of Product at AlphaSense, explains the best ways for a startup to develop a generative AI co-pilot. The first step? Commit to creating the world’s best dataset for the task at hand. All this and more are below, enjoy reading! Note: These articles are only available to TechCrunch+ subscribers. Register or log in here. Startups are learning the hard way that relying on OpenAI’s technology can burn them out A recent update to OpenAI’s ChatGPT, which allows users to upload PDFs and ask questions about them, has impacted the startup ecosystem. This development poses a significant, if painfully predictable, threat to many businesses, particularly “wrapper startups” that have built their businesses around a feature gap in ChatGPT. This change serves as a critical reminder to founders and investors that there is no substitute for a sustainable business with a strong, standalone product. Read more here… Startups need to add value to AI beyond ChatGPT integration The AI ​​hype train is in full swing. Currently, it is difficult to name an industry that is not affected by this disruptive technology. Startups feel these waves of hype like no one else as demands on inventors increase and competition intensifies. It is becoming increasingly difficult for startups to raise investment without any element of AI in their product. So far, the ChatGPT integration – relatively simple, affordable and fast – has been enough to keep up the race and capture market share. But it seems that will no longer be the case. Read more here… Best practices for developing a generative AI co-pilot for businesses Since launching ChatGPT, I can’t remember a meeting with a prospect or client where they didn’t ask me how they could leverage generative AI for their business. From internal efficiency and productivity to external products and services, businesses are racing to implement generative AI technologies across all sectors of the economy. Although GenAI is still in its infancy, its capabilities are developing rapidly: from vertical search to photo editing to writing assistants, the common thread is to exploit conversational interfaces to make software more accessible and more powerful. Chatbots, now rebranded as “co-pilots” and “assistants”, are in vogue again, and while a set of best practices is starting to emerge, the first step in developing a chatbot is to identify the problem and start small . Read more here… The “traitorous eight”, the PayPal mafia and . . . OpenAI expatriates? OpenAI’s collapse is likely to become the latest episode in what is becoming a Silicon Valley tradition: turmoil at a leading company leading to a series of employee departures that eventually gives rise to a new generation of startups. The drama-filled weekend spanning this week saw the ouster of co-founder Sam Altman from his role as CEO; the demotion and departure of co-founder, president and chairman of the board, Greg Brockman; and a near company-wide mutiny against the board of directors of OpenAI’s nonprofit parent company. The letter of censure to the board was signed by more than three-quarters of the company’s employees, including CTO Mira Murati, COO Brad Lightcap, chief strategy officer Jason Kwon and even Ilya Sutskever, the co -founder of OpenAI who helped oust Altman. and now says he regrets doing it. Read more here… OpenAI’s mess exposes the dangers of vendor lock-in for startups If you looked at OpenAI before Friday afternoon, it had everything a business buyer (and, for that matter, an investor) could want in a startup: an absolutely killer product in ChatGPT, a rock star CEO and huge potential future income. It seemed as stable as any startup could be – until it wasn’t. While the situation remains fluid, it appears CEO Sam Altman is ready to drive his tour bus to Microsoft, taking co-founder Greg Brockman and most of his employees with him. Read more here…

Dec 16, 2023
Chaos at OpenAI

Greg Brockman Investments

22 Investments

Greg Brockman has made 22 investments. Their latest investment was in Lambda as part of their Series B on November 17, 2022.

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Greg Brockman Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/17/2022

Series B

Lambda

$44M

Yes

3

9/28/2022

Seed VC

Uplimit

$8.5M

Yes

1

6/7/2022

Series A

Gantry

$23.9M

Yes

1

5/3/2022

Series A

Subscribe to see more

$99M

Subscribe to see more

10

4/26/2022

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

11/17/2022

9/28/2022

6/7/2022

5/3/2022

4/26/2022

Round

Series B

Seed VC

Series A

Series A

Series A

Company

Lambda

Uplimit

Gantry

Subscribe to see more

Subscribe to see more

Amount

$44M

$8.5M

$23.9M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

1

1

10

10

Greg Brockman Portfolio Exits

2 Portfolio Exits

Greg Brockman has 2 portfolio exits. Their latest portfolio exit was TripleByte on March 16, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/16/2023

Acquired

$99M

5

8/6/2019

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

3/16/2023

8/6/2019

Exit

Acquired

Acquired

Companies

Subscribe to see more

Valuation

$99M

$99M

Acquirer

Subscribe to see more

Sources

5

10

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