The Altman Affair: A timeline of the OpenAI mutiny

Happy Thanksgiving!

We have so much to give thanks for this year, and your support has been the cherry on top.

Thanks for being part of the Empire Flippers family and engaging with our newsletter week after week.

Our team will be taking a break today and the rest of the weekend to celebrate the holiday with loved ones.

We'll be back in action on Monday, November 27th with a fresh batch of quality online businesses for sale.

Till then, gobble up that turkey and soak in the gratitude! ?

Today we have for you:

• Mutiny, mergers, and Microsoft: Inside OpenAI's turbulent week
• Amazon Ads unlocked for non-sellers

And:

• Chat your way to a killer website with Wix’s new AI tool
• The wellness industry is the place to be
• We're hiring!

Alright, let’s dive in.

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AI

Chaos and Comebacks at OpenAI

Unless you’ve been living under a rock this past week, you’ll likely have heard about the drama that unfolded at OpenAI as the board revolted against CEO Sam Altman.

A lot happened in just 5 short days, so here’s a helpful breakdown how the mutiny went down.

November 16

• lya Sutskever, the chief scientist at OpenAI and a co-founder, sets up a call with Sam Altman for the next day.

November 17

• During the call, Altman is fired.
• Co-founder and president Greg Brockman learns about Altman’s dismissal and is told that he has been removed from the board as chairman but will retain his role as president. Brockman promptly quits along with several top researchers.
• Altman's firing is publicly announced, citing communication issues with the board.
• Mira Murati, the company’s Chief Technology Officer, becomes interim CEO.?

November 18

• Investors push for Altman's return, causing the board to consider reinstating Altman and Brockman.?

November 19

• Altman return to OpenAI's headquarters to negotiate his return, pushing for the entire board's exit.
• The board hesitates to step down, out of concern over who could replace them.
• The board names Emmett Shear, co-founder Twitch, as interim CEO? — replacing Murati.?

November 20

• Altman, Brockman, and colleagues announce they are joining Microsoft to lead an AI research team.
• More than 730 OpenAI employees, almost 95% of the total staff, threaten to resign unless Altman is reinstated.
• Altman and Brockman announce they'll consider returning to OpenAI if the current board steps aside.
• The board approaches Dario Amodei , co-founder and CEO of rival Anthropic, about a potential merger, but Amodei turns down the offer.?

November 21

• Altman strikes a deal to return as CEO with a fresh board.

November 22

• Altman officially returns as CEO, with reformations in the board.
• Brockman also confirms his return to OpenAI.

AMAZON

Amazon Unlocks a New Frontier for Advertising

Amazon ads pack a serious punch.

The numbers speak for themselves: $12 billion in ad revenue in Q3 of 2023, plus a whopping 20% of U.S. search ads run through Amazon.

Until now, these advertising superpowers were reserved for businesses selling directly on Amazon’s platform.

But guess what? The game’s changing.

Amazon’s firing up a closed beta program that’s about to shake up both display advertising and lead generation.

They’re rolling out Sponsored Display campaigns for businesses outside their platform, focusing on industries like travel, automotive, local services, restaurants, and education.

So, why’s this such a big deal?

Amazon’s not your average ad platform. They offer incredibly detailed audience insights without risking consumers’ personal info. They analyze what people look at, what they buy, and how they use Amazon, giving advertisers super-targeted options.

What’s more, industries often misunderstood or flagged by other ad channels will likely find a smoother path on Amazon.

This program lets you set bids for specific audiences, paying either per click or per thousand views. Right now, location targeting is limited to the US, but will likely expand to additional countries as the beta progresses.

For businesses not selling on Amazon, this is a game-changer. It’s a chance to dive into one of the biggest audiences in eCommerce. Your ads won't only show up on Amazon, but also on Amazon’s third-party network, which includes IMDb and Twitch.

The automotive and local services industries in particular stand to make big gains due to integrations with Amazon Garage and product purchase patterns.

Sign up for the Sponsored Display program now if you want to amp up your brand recognition and reach a fresh crowd of engaged buyers.

HIDDEN GEM

Listing #72089 - $454,318.00

ECOMMERCE | OUTDOORS, HOBBIES | 33X

Created in April 2017, the well-established business includes 5 products for an easily transportable watercraft and related accessories. The business requires minimal time to maintain.

We’re highlighting this business this week because of its following strengths:

• Profitable: strong net profit margins of around 40%
• Streamlined: Lean product offering with one manufacturer and a US-based 3PL
• Traffic Assets: 17K social media followers, and an email list with 40k subscribers

Learn More >

TREND OF THE WEEK

Today’s trend of the week is “wellness”.

The wellness industry took a hit during the pandemic. But new research from the Global Wellness Institute (GWI) shows that the industry hasn’t just recovered—it's thriving!

The wellness industry has skyrocketed by an incredible 27% since 2020, reaching a record high of $5.6 trillion. Plus, it’s forecast to hit $8.5 trillion by 2027 .

Wellness real estate, wellness tourism , thermal/mineral springs, and mental wellness are leading the charge in wellness sector growth through 2027.

And, several sectors are gearing up to cross the $1 trillion mark by 2024, with healthy eating, nutrition, and weight loss taking the crown as the largest wellness market by 2025.

The growth in this industry is expected to be fueled by global shifts like aging populations, more chronic diseases, and people placing greater value on their health.

The ongoing growth and resilience shown by the global wellness economy should be particularly encouraging for eagle-eyed entrepreneurs.

If you're scouting for a fresh niche, looks like the wellness industry might just be the golden ticket!

WE'RE HIRING

We’re on a mission to help more buyers than ever find awesome businesses to acquire.

In order to meet this goal, we’re expanding our team and are looking for two talented sales professionals to join us as Business Advisors in our Sales Department!

If you're a driven, proactive salesperson with a penchant for building rapport, then this is a huge opportunity for you to work for an exciting, fast-paced company and learn the ins and outs of the online business world.

If you get energized by jumping on the phone and helping buyers and sellers take the next step on their journey, this could be the role for you.

While some overlap with US time zones is required in this role, the role itself is 100% location-independent, allowing you to live anywhere in the world. Be it the beaches in Mexico or a mountain resort in the Swiss Alps – the choice is yours.

If this sounds like an exciting opportunity for you,? you can learn more about our company and how to apply for the position here !

READ ALL ABOUT IT!

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A list of patents expiring today:?inspiration for eCom entrepreneurs ?

Amazon launches free generative AI courses:?aims to train 2 million in AI by 2025

9 tips for converting more organic traffic:?boost your conversion rates

Microsoft announces name change for Bing Chat:?now known as Copilot

WEBSITES

Talkative Tech: Your Ticket to a Shiny New Site

Creating a website for your online business is tough. The site not only has to be attractive and functional but also needs to be tailored to suit your target audience.

The good news is, Wix has launched an innovative new tool that’s a game-changer for setting up your online business.

The new smart chat feature uses AI technology to guide you through the process of getting your business online.

The AI chat uses a human-like conversational approach, dynamically gathering information about your business through specific questions and follow-ups.

The AI then uses the information gathered to generate tailored recommendations to suit your business’s unique needs, including website templates, commerce applications, images, tone preferences, and text.

A highlight of the feature is that it learns from your responses, and the more details you provide, the more personalized your results will be. For instance, if you specify your target audience, the AI can generate sample blog posts suitable for that audience.

The conversation continues until the AI has collected all the necessary information to build a comprehensive business profile.

Once you’ve answered all of the AI’s questions, you get access to a special dashboard. Here, you can manage, personalize, and fine-tune the recommendations before publishing your site.

This significantly streamlines the process of creating a branded website, particularly for those who are not tech-savvy or are unfamiliar with web design and management.

The new smart chat tool is currently available in English for all new Wix users.

LIVING LA VIDA NOMAD

What a Way to Finish Conference Season!nbsp;

Another successful CMSEO conference in the bag. This is one of our favorite conferences of the year.

With so much SEO talent under one roof, it's impossible not to be inspired and learn something new!

MEME OF THE WEEK

Been somewhere cool or seen a meme that made you chuckle?

Send us a DM on Instagram (@empireflippers) with your favorite meme or nomad shot and we'll include it in the next email!