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Jeff Bezos Shockingly Steps Down As Amazon CEO – What Do We Know?

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Amazon founder and now the second-richest man in the world, Jeff Bezos, has decided to step down as the CEO of the company he started in his garage over 25 years ago.

The world has been left a bit confused by the news so let’s go through all the information we have right now and try to understand why Mr. Bezos has decided to take what must have been the toughest decision of his life.

Why Did He Decide To Step Down?

On Tuesday, Amazon employees received a memo from Bezos himself that will no doubt have caused a lot of confusion. In the memo, Bezos stated that he will transition to the role of executive chair in the third quarter of this year. The chief executive of Amazon Web Services, Andy Jassy, is slated to take over as CEO of Amazon.

Bezos reportedly stated in the memo that the change will give him “the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”

What Does This Mean For Amazon’s Value And The Stock Market?

As we speak, Amazon is valued around an eye-watering $1.7 billion and is only growing in value so, Bezos deciding to leave his CEO role shouldn’t cause much of a change.

Other tech companies like Microsoft and Apple have seen CEO changes in the past decade as well and weren’t affected much by it, and if the 1.5% increase in Amazon share price following the announcement is anything to go by, not much will change.

How Will Jeff Bezos Be Connected To Amazon Going Forward?

The chief financial officer of Amazon, Brian Olsavsky, clarified Bezos’ involvement in Amazon going forward in a statement saying: told investors on Tuesday. “I will reiterate [Jeff Bezos] is not leaving. He’s going to be executive chairman, a super important role, super active in the Amazon success story.”

Who Is The Man Chosen To Succeed Bezos?

Andy Jassy, the man who is going to succeed Bezos, as been with the company since 1997 so he certainly knows the ins and outs of the company. He is behind the company’s cloud services business, which started as a small addition to its e-commerce operations but has grown in recent years to account for roughly 60 per cent of operating profit and Amazon has become one of the leaders of the cloud computing industry.

Conclusion

While this move is making large waves on the news networks, Bezos leaving his role as Amazon CEO won’t change much, if anything at all.

Despite this fact, this change marks the first time in Amazon’s history that it will have a CEO who is not its founder, Jeff Bezos. It now remains to be seen what happens to one of the greatest and most powerful companies the world has ever seen.

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Unlimited Internet for Ghana: Starlink’s Satellite-Based Solution Now Available!

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TLDR;

  • Starlink has officially launched in Ghana, allowing users to purchase a kit directly from their website for Gh¢5604.00 (hardware and shipping) and Gh¢770.00/month (unlimited internet).
  • The service aims to provide connectivity to underserved areas, such as remote communities, farms, and offshore rigs, rather than replacing existing urban infrastructure.
  • Starlink’s presence in Ghana is expected to drive competition, prompting local telcos and ISPs to offer better internet deals, and potentially leading to more accessible and affordable connectivity solutions in the future.

 

After months of waiting and constantly refreshing the Stalink availability map, they have finally officially commenced operations in Ghana, They sent out emails to all those who signed up for their pre-order when they first made announcements of planning to set up operations in Ghana.

You can now go to their official website to get a kit and ship it directly to your house without going through any third party or middleman.

 The official cost on their website is ¢770.00 a month for internet connectivity, which will be unlimited, and Gh¢5604.00 for  Hardware and shipping. 

For most people, paying ¢770.00 a month for unlimited internet is a really good deal, but they won’t take a step towards getting it because of the cost of the kit. But STARLINK is primarily meant to provide “CONNECTIVITY WHERE YOU LEAST EXPECT IT” and not to replace Fibre and broadband options in the major cities or become that ubiquitous.

It is not their goal that every household should have a Starlink kit installed. But rather a lot of places where connectivity is & has been a major challenge up until now, get that solution. (ie. Remote areas, hinterlands, farms, on ships & boats, offshore rigs, mines & construction sites, etc) 

However, they know how good the technology & solution are such that there’s increased demand and people would want to scale it up/utilize it by diversifying into other connectivity solutions; which might be more accessible or affordable for more people.

 

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THE STARS ALIGN FOR STARLINK TO FINALLY COME TO GHANA.

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Starlink, the satellite internet company founded by Elon Musk, has received authorization from Ghana’s National Communications Authority (NCA) to start operations by the end of August 2024. This approval comes after several months of discussions between the NCA and SpaceX, Starlink’s parent company, primarily due to licensing and regulatory hurdles.



This milestone is viewed as a major boost for Ghana’s technological progress, given Starlink’s reputation for reliability across 102 countries.

Starlink operates using a network of low-Earth-orbit satellites that communicate with one another and with ground stations to provide high-speed, low-latency internet. This technology is well-suited for enhancing connectivity for both individuals and businesses.

Could the arrival of such a major international ISP see the local ISPs rise to the occasion, potentially leading to more innovative solutions and advancements in the sector or, would it simply blow them out of the water?

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OpenAI Grants Early Access to US AI Safety Institute and Reaffirms Commitment to Safety Resource!

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TLDR;

  • OpenAI will provide the US AI Safety Institute early access to its upcoming safety test, aiming to collaborate on improving AI evaluation methods.
  • OpenAI is dedicating at least 20% of its computing resources to safety initiatives, following the dissolution of its Superalignment team, though a release date for the safety test is not yet specified.
  • In response to recent criticisms, OpenAI has taken steps to enhance transparency, including removing non-disparagement clauses for employees and making efforts to improve internal practices.

 

OpenAI has announced that it will grant the US AI Safety Institute early access to its upcoming safety test, as detailed in a tweet by OpenAI founder Sam Altman on X.

Altman explained that the aim of this early access is to collaborate on advancing the science of AI evaluations.

In the same post, Altman also emphasised OpenAI’s commitment to dedicating at least 20% of its computing resources to safety initiatives. This commitment was intended to be executed by the now-dissolved Superalignment team, which was co-led by Jan Leike, Head of Alignment, and Ilya Sutskever, co-founder and Chief Scientist of OpenAI. However, a specific release date for the safety test has yet to be announced.

Addressing recent criticisms, Altman suggested that OpenAI has taken meaningful steps to enhance transparency as part of its safety measures.

He noted, “In May, we eliminated non-disparagement clauses for both current and former employees and removed provisions that allowed OpenAI—though they were never used—to cancel vested equity. We’ve made significant efforts to rectify these issues and improve our practices.”

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