Thrive Capital partner says every Big Tech company has a 'bazooka pointed at' OpenAI

In a recent episode of the "Uncapped" podcast, Vince Hankes, a partner at Thrive Capital, expressed grave concerns regarding the competitive landscape surrounding OpenAI. According to Hankes, major technology companies are uniting against OpenAI, stating, "Every Big Tech company has a bazooka pointed at them to try to take them down." This reflects the hesitation of established firms to welcome new entrants into their elite circle. Thrive Capital, established by Josh Kushner in 2011, has heavily invested in OpenAI, the creator of ChatGPT, and also boasts a portfolio that includes notable companies such as SpaceX, Databricks, and Stripe. Hankes emphasized the importance of fostering a competitive environment, referencing the so-called 'Mag Seven'—a group comprising Apple, Microsoft, Amazon, Alphabet, Meta, Tesla, and Nvidia. He remarked, "We should want it to be a competitive fair fight for a new company to break into Mag Seven, because that's what our whole ecosystem lives and breathes off of." Despite his strong support for OpenAI, Hankes noted that Thrive Capital's investment strategy is not solely focused on OpenAI. "There isn't a risk-adjusted better return than OpenAI, and therefore if we're given a decision, we should do it," he explained. However, he cautioned against ignoring risks in the investment landscape. Recently, OpenAI has made significant strides that may elevate its status among established tech giants. At its latest DevDay event, the company revealed plans to integrate apps within ChatGPT, which CEO Sam Altman announced now boasts 800 million weekly users. This strategy positions ChatGPT more like an app store, potentially clashing with industry leaders like Apple and Google. The competitive tension is palpable, especially as Google investors express worries that generative AI tools like ChatGPT could undermine Google's dominance in the search engine market. Additionally, OpenAI's recent partnership with AMD, which involves deploying chips that require up to six gigawatts of power, marks a significant step in its technological capabilities. This follows Nvidia's announcement that OpenAI would gain access to 10 gigawatts of high-powered GPUs, complemented by a substantial $100 billion investment from the chipmaker. Looking ahead, OpenAI is set to launch its first AI chip in collaboration with Broadcom next year.