Microsoft-OpenAI’s open relationship; Tuba Siddiqui’s personal care brand

Hello,

Bengaluru has cemented its position as the country’s leading destination for GCCs (Global Capability Centres). 

A report by specialist staffing firm Xpheno says the city’s GCC ecosystem hosts over 15,000 active leaders. It also boasts an overall leadership density of 1:50. That means one in 50 professionals holds a leadership role.

Moving on, what will be the impact of the UAE’s exit from OPEC? 

The UAE, the fourth-largest producer in the Organization of the Petroleum Exporting Countries, has been a member of the group for nearly 60 years. Its impending exit could weaken the influence of the producers’ cartel in the oil market. 

But the rest of the alliance, sources say, is likely to stick together and continue coordinating on oil supply. 

Elsewhere, SpaceX is being audacious. 

The company’s  pre-IPO filing reveals its highly ambitious plan to tap into the sun’s energy to fuel the AI age. It also announces its intentions “to make life multi-planetary, to understand the true nature of the universe and to extend the light of consciousness to the stars.” The prospectus also flags the financial risks of the plans, matter-of-factly. 

Lastly, what went wrong at Claire’s, the iconic accessories brand which has closed its standalone stores in the UK and Ireland? A bunch of reasons, say experts: fall in spending, stiff competition from online retailers, and failure to keep pace with fashion trends. 

In today’s newsletter, we will talk about 

• Microsoft-OpenAI’s open relationship
• Tuba Siddiqui’s personal care brand

Here’s your trivia for today: Which company owners literally flipped a coin to decide whose name would come first in the company title?

Explainer

Microsoft-OpenAI’s open relationship

Microsoft and OpenAI have announced a significant amendment to their partnership, with the duo moving from being an exclusive couple towards a more open relationship. 

The new arrangement allows OpenAI to offer its products on Microsoft’s rival platforms, even as the Windows maker diversifies its own AI efforts. It also simplifies the financial ties between the two companies. 

Together, yet independent:

• Microsoft is no longer the only company allowed to use and distribute OpenAI’s technology in certain ways. However, Microsoft does retain a primary partner status. This means new OpenAI products will still be largely launched first on Azure, provided Microsoft has the technical capacity to support them.
• Microsoft will no longer pay a revenue share to OpenAI for customers who access OpenAI models through Azure. Conversely, OpenAI will continue to pay Microsoft a revenue share on its own earnings.
• The two companies still plan to work together on ambitious projects, such as building massive data centres, developing next-generation silicon chips specifically for AI, and using AI to improve cybersecurity.

Funding Alert

Startup: Sahi raises 

Amount: $33M

Round: Series B

Startup: Novio in Series A 

Amount: Rs 100 Cr 

Round: Series A

Entrepreneur 

Tuba Siddiqui’s personal care brand

Tuba Siddiqui's natural personal care brand, Soil Concept, offers plant-based products with a healthier, more sustainable approach.

The Lucknow-based personal care brand has over 25 SKUs sold across 60 to 70 premium organic stores in India and on major online platforms, including Amazon, Flipkart, and Myntra.

Key takeaways: 

• Tuba Siddiqui’s journey started with a small medicinal garden at home, where she grew aloe vera, basil, multi-vitamin and insulin plants, and tended to them out of a genuine, almost stubborn curiosity about what the natural world could offer the body.
• Slowly, things aligned, and Tuba thought of making products from these plants. “A lot of care goes into growing them, and I wanted to put them to good use,” she says. 
• Soil Concept covers hair care, skin care, essential oils, and wellness products. In a market crowded with natural personal care products, Tuba speaks of differentiation with care.

News & updates

• EU rules: Meta Platforms’ Facebook and ‌Instagram were charged with breaching landmark European Union (EU) tech rules. EU regulators said they must do more to block children under 13 from accessing the social networks. 
• First close: Neo Alternative Asset has marked the first close of its second fund, raising Rs 1,500 crore, against  a total target corpus of Rs 5,000 crore. Positioned as an alternative to traditional fixed income products, the fund focuses on sectors such as roads and renewable energy and aims to provide stable and predictable income with long-term visibility. 

Which company owners literally flipped a coin to decide whose name would come first in the company title?

Answer: Bill Hewlett and David Packard

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