Sunday, December 3, 2023

The daily business briefing: November 21, 2023

Must read

1. OpenAI workers revolt over Altman’s ouster

Chaos erupted at artificial-intelligence pioneer OpenAI on Monday as nearly all of the company’s employees threatened to quit after the firing of co-founder and CEO Sam Altman, who was promptly snapped up by OpenAI backer Microsoft to head its new AI unit. Microsoft, like OpenAI’s employees, had called for OpenAI to bring back Altman as soon as the firm’s board ousted him. More than 700 of the ChatGPT creator’s 770 employees signed a letter saying they would leave to join Altman if he wasn’t re-hired because they were “unable to work for or with people that lack competence, judgment and care for our mission and employees.” The Washington Post

2. Gas prices plunge in time for Thanksgiving travel

Gas prices have fallen by about 25 cents per gallon in less than a month, according to AAA data. The national average dropped to $3.31 per gallon Monday at the start of a busy week of Thanksgiving travel, with 55.4 million people expected to travel between Wednesday and Sunday, including 44.9 million of them by car. A gallon of regular gas is now 36 cents cheaper than a year ago after the national average for a gallon of regular gas dropped for nine straight weeks. The decline, “largely seasonal due to weakening gasoline demand, could extend for another week or two, leading to potentially the lowest gas prices since 2021 by Christmas,” said Patrick De Haan, head of petroleum analysis at GasBuddy.  Axios

3. Wells Fargo workers launch unionization effort at 2 branches

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