Almost a year after Twitter CEO Parag Agrawal was fired by Elon Musk from the company, he is now working on an AI startup, which will reportedly compete with the popular AI tools like ChatGPT and Bard. As per the Information, Agrawal has received a hefty funding from one of the early investors of OpenAI. He has received $30 million in funding for his startup.
After a surprising departure from Twitter at the hands of Elon Musk, Agrawal has been quietly plotting his next move. He’s now diving into the world of artificial intelligence with a fresh startup, managing to secure a significant $30 million in initial funding. Operating under the radar since leaving Twitter, Agrawal’s new venture is targeting the development of specialized software for Large Language Model (LLM) creators, according to sources familiar with the situation, as reported by The Information.
The funding for this new initiative appears to have been led by Khosla Ventures, supported by major investments from esteemed venture capital firms like Index Ventures and First Round Capital. These substantial investments reflect a strong belief in Agrawal’s vision for advancing AI innovation in the industry.
Parag Agrawal’s swift exit from Twitter CEO after Elon Musk’s takeover was a multi-layered story, with no single definitive reason. Here are some key factors that likely contributed:
Elon Musk desired a radical transformation of Twitter, emphasizing free speech, monetization via subscriptions, and tackling bots aggressively.However, Parag Agrawal focused on incremental improvements, content moderation policies, and user growth. This cautious approach likely clashed with Musk’s bolder aspirations.
According to reports, Musk sought a “fire-breathing dragon” as CEO, someone who could aggressively execute his vision. He reportedly felt Agrawal lacked the necessary decisiveness and charisma.Leaks also suggested tensions within Twitter’s leadership regarding moderation policies and Musk’s vision. This friction might have further undermined Agrawal’s position.
Public exchanges revealed a somewhat frosty relationship between Musk and Agrawal, with Musk voicing criticism through tweets and leaked messages.With the acquisition finalized, Musk likely wanted complete control, leading to Agrawal’s removal to install someone aligned with his vision.
source by: India Today News
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