Stories from San Francisco · United States

The company Fold has launched a new Bitcoin bonus program designed for employers through its Fold Business platform.

San Francisco public transit officials reported that March broke several post-pandemic ridership records. SFMTA spokesman Michael Rocoforte stated there has been a increase in the number of people using metro trains. The agency described the trend as promising. San Francisco is set to pay approximately $40,000 to settle a lawsuit regarding records from an investigation into the Zebra murders. The series of killings occurred in the 1970s. The lawsuit follows a public records request filed six years ago by documentary filmmaker Ron Cicero. The Sunshine Ordinance Task Force investigated the matter after the San Francisco Police Department failed to comply with the request.

Elon Musk and Sam Altman are expected to provide testimony regarding OpenAI's transition from a nonprofit to a for-profit enterprise. Growth uncertainties surrounding OpenAI have led to a market correction in technology stocks. CLS Finance China reports the growth concerns are currently trending in financial markets. The market movement is being tracked alongside trending discussions regarding the Gulf Cooperation Council (GCC) convening a special summit. OpenAI faces investor scrutiny regarding its ability to finance a $300 billion deal with Oracle. The company is projected to make $25 billion this year, raising concerns about circular financing and AI infrastructure spending. Shares fell more than 4% following the news. Analysts are questioning the interconnectedness of AI spending and the company's financial model.

The dispute alleges Musk was intentionally misled during his time as a co-founder. The litigation centers on OpenAI's transition from a nonprofit organization to a for-profit enterprise. The messages provide further evidence of the contentious nature of the dispute between the two parties. The source describes the exchange as a battle between two individuals unwilling to concede their positions. The messages reportedly show a contentious disagreement between a former co-founder and the company regarding its transition from a nonprofit to a for-profit model. The primary goal of the lawsuit is to return the company to its status as a full non-profit foundation and remove Sam Altman and Greg Brockman from their positions. The source noted that OpenAI had previously preferred not to disclose certain details regarding the matter.

Legal proceedings are examining whether OpenAI abandoned its original commitment to benefit humanity in favor of profit-seeking. The company may face payment arrears if these contracts cannot be fulfilled. OpenAI has responded to the reports, stating the sentiment is actually very positive. The Nasdaq has dropped over 328 points, a slide of more than 1%. The S&P 500 is down 52 points, while the Dow Jones Industrial Average is up 65 points. The maker of ChatGPT is reportedly experiencing financial issues. Semiconductor and power equipment manufacturers are falling following a Wall Street Journal report that OpenAI missed its revenue and new user goals. 78% of the 170 S&P 500 companies that have reported earnings so far have delivered positive surprises. IBM shares fell following recent results, contributing to broader pressure on software stocks and market volatility.

Opponents of recent healthcare measures plan to file a rival measure called the Transparency Act. The proposed act is funded by Silicon Valley billionaires and includes a provision to nullify the billionaire tax. This development follows two months of conflict in Iran, which was a response to federal healthcare cuts by the Trump administration. The Transparency Act will face the existing healthcare measures on the ballot, with the measure receiving more yes votes winning. If both the original measure and the Transparency Act reach the ballot and pass, the measure with the most affirmative votes will prevail.

San Francisco Mayor Daniel Lurie established a new role for an Executive Director of Arts and Culture. Matthew Godot, former deputy chief of staff, will lead the position. The role will oversee the San Francisco Arts Commission, Grants for the Arts, and the Film Commission to streamline city gallery spaces, grant distribution, and film production. These agencies previously operated as separate entities. The new role aims to centralize the management of city gallery spaces, artist grants, and nonprofit support. The announcement was reported by KQED News.

Dismantling work began yesterday on a large fountain sculpture in San Francisco that has been installed since 1971. The city intends to redevelop the park where the fountain is located. The project follows a period of high expenses and voluntary departures aimed at reducing pressure. Officials stated the structure is deteriorating, unstable, and corroded. The sculpture is considered a rare cultural work globally, according to the report. Vaillancourt and his family to save the work, is expected to cost the city 4 million dollars. The sculpture will be placed in storage following the dismantling process. The Vaillancourt family had traveled to plead their case to the city last year.

OpenAI CFO Sarah Fryer is questioning CEO Sam Altman's efforts to acquire more computing power. Fryer and Altman issued a joint statement saying they are aligned on purchasing as much compute as possible. The spending concerns arise as the industry relies heavily on capital expenditures. Following the report, partners Oracle, CoreWeave, and AMD saw pre-market declines of 5%, nearly 6%, and 4% respectively. OpenAI's CFO has reportedly questioned the CEO regarding the company's computing expenditures. This internal tension occurs as the company is potentially preparing for a major public offering this year. Analysts suggest the IPO could be one of the largest in history. The source noted that such internal friction could cause damage to the company.

Nine jurors were chosen from a pool of 40 San Francisco residents. The jury will provide advisory opinions, while the final ruling will be issued by Judge Rogers. The judge is noted for her previous rulings against Big Tech companies, including Apple.