Meta's AI translation tool, OpenAI disrupts call centers, Amazon's employee exodus
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Hey Founder, here are the latest tech news and insights:
- Meta unveils AI translation for Instagram and Facebook
- OpenAI disrupts call centres
- France's new government boosts tech
- LinkedIn is a corporate obsession
- Ex-Twitter exec's $250M seed fund
- AI сoding startup Poolside raises $500M
- Amazon faces employee exodus
Meta unveils AI translation tool for Instagram and Facebook
Meta has announced a new AI translation tool that automatically dubs and syncs Reels in different languages, making it easier for users to consume content without subtitles. Unveiled at Meta Connect 2024, the tool simulates speakers' voices in other languages, creating a natural viewing experience. Currently in small tests, the tool translates between English and Spanish for creators in the US and Latin America, with plans to expand. For startups, this feature offers the advantage of reaching global audiences more easily, increasing content visibility and engagement across language barriers.
New call center killer by OpenAI
OpenAI's release of the Realtime API, which enables voice AI to be embedded into third-party applications and telephony systems, has stirred conversations about its potential to revolutionize industries such as customer service and call centers. This "call center killer" could significantly reduce operational costs by automating tasks that traditionally required human agents. The rough cost comparison highlights that voice AI can handle large volumes of interactions at a fraction of the cost of human employees, streamlining processes like customer support, troubleshooting, and inquiries, while also offering scalability and 24/7 availability.
The implications of this shift suggest that many routine customer service jobs could be replaced or restructured as companies increasingly adopt AI-driven solutions. The balance between cost-effectiveness, customer experience, and the ability of AI to handle more complex, nuanced conversations remains key to how widely and quickly this technology will be adopted.
France’s new government sparks tech sector optimism
France’s tech sector has shown cautious optimism with the recent formation of a new government, following months of political uncertainty. Despite concerns about potential policy changes, many in the startup and venture capital communities are relieved that the country's supportive environment for innovation and entrepreneurship seems to be intact.
A key appointment focusing on AI and digital innovation has been particularly well-received, signaling that the government will continue fostering growth in these critical areas. However, looming challenges, such as potential tax increases to address the budget deficit, have raised concerns about their impact on investment and growth.
LinkedIn has become an obsession for top corporate executives
The humor article published on Sherwood discusses the increasing trend of top executives using LinkedIn as their primary social platform to engage with followers and share insights. Since the start of the year, there has been a 23% rise in CEO posts on LinkedIn, with many of these posts gaining significant attention. Executives are turning to the platform for various reasons, such as connecting with customers, investors, and employees, while also shaping the public perception of their companies. The article explores the authenticity of these posts, noting that many executives mix personal anecdotes with business insights to humanize their image and build trust.
However, this trend has led to a surge of formulaic and exaggerated content, with terms like “broetry” being coined to describe the action-oriented, repetitive style some executives use to game the platform’s algorithm. While LinkedIn provides an effective marketing channel for many, the article emphasizes the importance of executives being original and authentic in their posts. It advises against copying popular trends or forcing personal narratives into business contexts. Ultimately, executives should focus on sharing content that genuinely advances their company's goals, rather than simply trying to fit in or build a personal brand.
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Ex-Twitter exec launches $250M seed fund
Ali Rowghani, former head of YC’s Continuity Fund and Twitter executive, has launched a new venture firm called Maxq, aiming to raise $250 million for its debut fund. The firm will focus on seed-stage investments and includes former YC colleagues Mia Mabanta, Simon Lu, and JJ Fliegelman.
AI coding startup Poolside raises $500M
Poolside, an AI-powered software development platform, has raised $500 million in a Series B round led by Bain Capital Ventures, with participation from major tech players like eBay and Nvidia. This brings Poolside’s total funding to $626 million, with a valuation now at $3 billion. Founded by Jason Warner, former GitHub CTO, and Eiso Kant, the startup develops AI tools that assist developers by autocompleting and suggesting code. The funding will enable Poolside to enhance its R&D efforts and scale operations, including deploying 10,000 Nvidia GPUs to train future models.Poolside's AI-powered development tools can help startups accelerate software development, reduce costs, and gain a competitive edge by automating coding tasks, enabling faster innovation and scaling.
Premature scaling can kill a good product
A VC firm asked me to supervise the collaboration between one of the startups they wanted to invest in and their performance marketing agency.
The startup had a very prominent health-tech solution.
Yet, it was never seen by people outside of the founders’ social circles.
Mission critical: 𝗔𝘁𝘁𝗿𝗮𝗰𝘁 𝟭,𝟬𝟬𝟬 𝘂𝘀𝗲𝗿𝘀 𝘁𝗼 𝘁𝗵𝗲 𝗽𝗿𝗼𝗱𝘂𝗰𝘁 before considering investing.
To achieve this objective, they chose:
• Influencer marketing and
• Meta ads.
Two weeks into the campaign, negative comments started to appear under ads.
People claimed that the product did not provide value and the tests were not accurate.
We reached out to users who shared negative feedback and learned more about their issues.
To the team's big surprise, most users were very helpful and understanding.
𝗧𝗵𝗲 𝗽𝗿𝗼𝗯𝗹𝗲𝗺: The agency went “mainstream” to capture seizable segments that are not necessarily early adopters. The product was simply not there yet.
Luckily, after crunching the data, we saw good retention of 35 to 45-year-old physically active males who were eager to use the product and recommend it to their peers.
The product still had a fighting chance.
We changed the strategy and relaunched for that audience.
Conversions tripled and the team pulled it off.
Here are some of the signals to look out for if you have issues with PMF, and also how to recognize when you are on the right track.
Originally published on Maja Voje’s LinkedIn
Amazon faces employee exodus
According to Fortune, Amazon employees are considering leaving their jobs after CEO Andy Jassy announced a full-time return-to-office (RTO) policy starting in 2025. A survey on Blind revealed that 73% of Amazon workers are thinking about applying for new jobs due to the mandate, with 80% knowing colleagues with similar plans. The policy, aimed at reducing inefficiencies and managerial layers, has sparked dissatisfaction, especially among parents and remote advocates. The uneven application of the mandate across Amazon’s subsidiaries, such as One Medical’s three-day office requirement, has further fueled frustration among employees.
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