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Notes -
OpenAI announces leadership transition
I posted this in Twitter and someone speculated that it's because Altman paused subscriptions on Tuesday, but that would alone seem like a pretty inconsequential reason for this sort of a major move.
Brian Armstrong tweeted now that $80 billion of company value has been 'evaporated'. I'm like 'what?' You realize that there is still an immensely popular product with millions of users? A few departures even of key people does not change that. i don't get it...it's like social media compels otherwise rational, smart people to make incendiary statements for attention. It's not like creating 'the next Open Ai' will be easy...look how hard Google has struggled despite unlimited resources and PR. I dunno how much valuation has been lost, but if it were public, probably a 10-20% decline in share price on Monday on this news. Bad but not critical at all. I agree he's right about wokeness, but as we've seen with the huge success of Silicon Valley tech companies, wokeness is evidently not a hindrance to success as much as he may dislike it.
I also observed how it seems like important news and events are always on Friday-Saturday, for example:
Gaza conflict
Starship launch
Open Ai board upheaval
Twitter advertisers defecting over alleged antisemitic post by Elon
For some reason, this 24-hour window from Friday morning to Saturday morning seems to always pack a lot of news
This doesn't work for all of your examples, but I think part of it is that companies will often wait until late Friday to make moves that could get a lot of pushback. The extremely-online types will always pick it up anyway, but the normal people will often be less interested because it's the weekend and they've got things to do, so it reduces how much it gets picked up. By the time Monday rolls around the momentum of the pushback is often lost.
Actually, hadn't thought about it like this before, but that's also probably to reduce big stock shifts, give the news time to settle a bit before people get to trade on it.
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