AI’s Future: Insights from Oprah, Apple’s FDA Milestone, and the Rise of HR Startup Every

On this Friday, September 13th, 2024, the world of tech, business, and politics is buzzing with developments that highlight both innovation and uncertainty. In tech, AI continues to shape industries, with companies like Google and OpenAI advancing new tools, while cybersecurity remains a top priority amid rising ransomware threats. Business sectors are grappling with inflation and fluctuating energy prices due to the ongoing Russia-Ukraine conflict, yet fintech and climate tech remain areas of strong growth. Politically, the U.S. is preparing for the 2024 presidential election, with key issues like immigration, the economy, and AI regulation dominating discussions. Meanwhile, global tensions between the U.S. and China persist, especially in trade and tech.

In today’s email:

• Oprah’s AI Special: Sam Altman, Bill Gates

• Every: Y Combinator 2.0?

• Apple Hearing Aids: AirPod Pros

Oprah’s AI Special - A Blend Of Skepticism And Optimism

Oprah Winfrey's recent special, "AI and the Future of Us," aired on ABC, delved into the multifaceted world of artificial intelligence, featuring key figures like Sam Altman, CEO of OpenAI, and Bill Gates, among others. Here are the highlights:

• Sam Altman's Insights: Altman, in his interview, discussed AI's capabilities, emphasizing that while AI systems predict sequences based on patterns, they don't possess genuine understanding or intentionality. He highlighted the necessity for government regulation in AI safety, akin to aviation or pharmaceuticals, despite OpenAI's opposition to specific bills like California's SB 1047. Altman dodged direct questions about trust, suggesting that OpenAI aims to build trust over time.

• Deepfakes and Misinformation: The special showcased the evolution of AI-generated media, with Marques Brownlee demonstrating how advanced AI can produce nearly indistinguishable deepfakes. This led into a discussion with FBI Director Christopher Wray, who warned about the rise of AI-aided crimes like sextortion and the potential for AI in spreading disinformation, especially concerning the upcoming U.S. elections.

• Bill Gates' Vision for AI: Gates provided a more optimistic view, envisioning AI as a transformative tool in education and healthcare. He described scenarios where AI could assist doctors in real-time during consultations or personalize education for students. However, this optimism was tempered by existing concerns over AI biases, particularly in healthcare where AI might perpetuate racial biases in diagnostics.

• Oprah's Perspective: Throughout the special, Oprah expressed a cautious optimism about AI. She acknowledged the technology's inevitability and its potential to be both an ally and a rival to humanity. Her closing remarks underscored the need for vigilance and adaptation in the face of AI's rapid advancements.

The special, while showcasing AI's potential benefits, also critically examined its risks, from job displacement to ethical dilemmas in AI application. This balanced approach provided viewers with a comprehensive look at AI's role in our future, urging a collective responsibility in navigating this new technological landscape.

Why Y Combinator Startups are Turning to HR and Banking Platform Every

Rajeev Behera's new all-in-one HR startup, Every, is making waves in the startup world, offering a unique solution that integrates payroll, onboarding, and spend management for small businesses. Despite the crowded market with competitors like Gusto, Rippling, Deel, Mercury, and Brex, Every stands out with its innovative approach.

Behera’s strategy focuses on attracting early-stage tech startups by offering free incorporation services and a seamless setup for business bank accounts, along with other back-office essentials. Every generates revenue by charging monthly SaaS fees for additional services like accounting and through interchange fees.

After a quick onboarding session, Every provides startups with a comprehensive suite of tools, including banking, payroll, HR benefits, bookkeeping, and state compliance. The added benefit of a Slack community for founders to connect makes the platform even more appealing.

With a focus on companies with fewer than 200 employees, Every aims to support startups through their early years. Behera anticipates that his most successful customers will eventually outgrow the platform—until Every expands to accommodate larger businesses.

A key to Every’s growth is its connection to Y Combinator. About half of the company’s 150+ customers come from this network, which has accelerated its growth and attracted a $22.5 million Series A funding round led by Redpoint Ventures, with participation from Okta Ventures and Base10 Partners.

Behera’s extensive background, including the co-founding and sale of Reflektive, and strong ties to the startup community have set Every apart. Despite competition from other Y Combinator alumni like Rippling, Gusto, and Brex, Behera’s hands-on approach and innovative business model continue to draw investors and customers alike.

The startup, currently with 20 employees, will use the new funding to expand its engineering team and scale its offerings.

Apple AirPods Pro Approved by FDA to Function as Hearing Aids

At Apple’s recent “It’s Glowtime” event, the spotlight was on the iPhone 16, but a significant development came from the AirPods Pro 2. Apple revealed that its premium earbuds would soon serve as over-the-counter hearing aids through a software update, following approval from the U.S. Food and Drug Administration (FDA).

On Thursday, the FDA granted its first approval for an over-the-counter hearing aid software, called the "Hearing Aid Feature." This update, specific to the AirPods Pro 2, allows the earbuds to function as hearing aids for users with mild to moderate hearing loss.

“Hearing loss is a significant public health issue impacting millions of Americans,” said Michelle Tarver of the FDA. “Today’s authorization of an over-the-counter hearing aid software on a widely used consumer audio product is a step toward making hearing support more accessible and acceptable for adults.”

This approval follows the FDA's 2022 decision to allow the sale of hearing aids without a prescription, opening the market to more affordable and accessible hearing solutions. Users will be able to access the feature via iOS 18 when paired with AirPods Pro 2, after completing a hearing test through the device or by uploading results from a medical professional. The AirPods will amplify key sounds, like the human voice, by adjusting frequency levels.

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