Sam Altman is back as the CEO of Open AI less than a week after being fired by the board

• Altman returns as OpenAI's CEO, led by Bret Taylor and Larry Summers on the initial board, aiming for a restructured board with up to nine new directors

• Microsoft's backing facilitates Altman's reinstatement, leading to negotiations and averted employee threats to quit.

• Altman's dismissal, attributed to board conflicts and communication issues, triggered a swift reversal amid employee discontent.

• OpenAI seeks a balance between responsible AI development and investor support, highlighting challenges for AI startups in navigating ethical concerns and financial demands.

• Altman's leadership and AI innovations garnered global attention, although internal clashes with the board influenced his dismissal.

• His entrepreneurial ambitions, including plans for an AI chip startup and investment courting, added complexity to internal tensions.

• The episode reflects Silicon Valley's history of CEO oustings and comebacks, echoing instances involving Steve Jobs and Jack Dorsey.

Pocket FM in India nears $80 million funding milestone following a revenue surge surpassing $160 million

• Pocket FM, an audio entertainment startup, nears $80 million in a new funding round led by Lightspeed.

• The funding round may value the Indian startup at nearly $800 million, considering Pocket FM's current revenue growth.

• The startup's annualized revenue run rate (ARR) exceeds $160 million, showing significant growth from the past year.

• Pocket FM expanded into the U.S. and adopted a pay-as-you-go model, proving successful in attracting customers.

• Leveraging a freemium model, the platform allows users to pay for preferred content instead of the entire library.

• The micro-transaction model introduced in 2022 allows users to purchase coins for additional content beyond the free quota.

• Users spend an average of 110+ minutes daily on the platform, showcasing high engagement levels.

• Pocket FM and Lightspeed declined to comment, with Entrackr previously reporting some funding details.

First Ever Gene therapy approved for two blood disorders : Sickle Cells & Thalassemia

• Britain's medicines regulator approves the world's first gene therapy for sickle cell disease, named Casgevy.

• Casgevy, developed by Vertex Pharmaceuticals and CRISPR Therapeutics, utilizes CRISPR-based gene-editing technology.

• The treatment is authorized for patients with sickle cell disease and thalassemia aged 12 and above.

How it works :

• Casgevy works by targeting the problematic gene in a patient's bone marrow stem cells, enabling the production of properly functioning hemoglobin.

• The gene therapy involves chemotherapy to make space for new cells and genetic editing techniques to fix the gene in a laboratory.

• Patients, after stem cell collection and infusion of altered cells, report positive outcomes, reducing severe pain and eliminating the need for transfusions.

• The groundbreaking treatment marks a significant advancement beyond traditional, arduous bone marrow transplants.

Cost Questions ???

• The cost of gene therapy treatments raises concerns about accessibility for those who would benefit the most.

• Casgevy is under review by the U.S. FDA, with a decision expected next month.

Impact of Sickle Cell Disease

• Sickle cell disease affects millions globally, with Casgevy offering a potential curative option.

• The gene therapy underscores the transformative potential of CRISPR-based technology in the medical field.