Meta owner Mark Zuckerberg spends Rs 1170000000000 to hire this man, his name is.., his expertise is to...
According to the media reports that Meta has acquired a company named Scale AI. However, the truth is that Meta simply made a large investment in Scale AI-it didn't acquire the company. If it was an acquisition, then Meta would have had to buy all shares of Scale, and all employees would have had to either receive Meta stock or cash out in some manner. This did not happen.
Instead, Meta invested $14 billion in Scale AI, which raised the valuation of Scale to $29 billion, and then made Meta's stake nearly 49%. Scale is still a separate company, and its board was unchanged. However, where there is this level of influence, it is very likely that the company is going to fall directly in line with Mark Zuckerberg's vision.
Alexandr Wang is the founder and CEO of Scale AI, and he was critical to making this deal happen. Wang is joining Meta but will remain on the board of Scale. With Meta and Wang's combined stake, they have potential control of Scale AI now. To put it another way, for the foreseeable future, key decisions for Scale AI could practically be dictated by Meta.
The deal was so large that some thought of Meta as buying the company outright. In fact, a significant amount of the capital ultimately went to Scale AI's employees because they were able to cash out their shares-partially, of course-but retain, and cash in, a percentage of their ownership. This allowed them to profit immediately while also staying invested in the company's future growth. It's said that this idea came from Alexandr Wang himself, ensuring that his team benefitted alongside him and didn't get left behind.
The most interesting thing about this acquisition is that it seems like Meta is not truly interested in Scale AI's core businesses. Scale AI is primarily a data labeler—providing the prep work for training machine learning models, which is usually a human-intensive task. It is also a low-tech task and therefore low in innovation. Scale works a lot with big clients such as Toyota, General Motors, and various governments, who want to adopt AI, except have no idea how to build AI.
For Meta, a tech of its size, Scale's business does not seem to quite fit either. Meta is not building a B2B data service business, and Scale's datasets are not valuable enough as datasets to warrant a deal on that level. The real purpose for the deal, it seems, Meta wanting to acquire Alexandr Wang, the CEO behind Scale AI.
This is not unprecedented. Google invested in Character AI and lured some of their best employees onto their Gemini team. Microsoft did something similar with Inflection AI. So why is Alexandr Wang so significant?
In the modern tech race, the player that builds the strongest large language models (LLMs) will win the game. It is a race to claim market territory. There remain many who claim they can build LLMs, but success is impossible without the right data, enormous compute, and the ability to scale. Users will always go with the highest-performing model. When it comes to this game, second best doesn't matter.
Meta has not kept pace in the AI race to date. OpenAI has already claimed the consumer software market with ChatGPT, and Google and Anthropic are established developer players. Meta has models made like Llama 2, but they have not been able to put the flag in the ground claiming 'first' in what is becoming a heated market. To this point, Meta's play has been to keep it open-source, and this was enough to gather a broad audience of developers and researchers. Now, Meta understands open source can take them only so far. They need a visionary leader capable of defining their AI future; in this case, Alexander Wang is expected to be that leader.
Meta is falling considerably behind in the AI race. OpenAI has taken the consumer space using ChatGPT, and Google and Anthropic have taken the developer space. While Meta has developed some models like Llama 2, its unable to stake a claim to the top of the competitive landscape.
Meta's approach thus far has been to keep everything open-sourced, and that did help garner a large community of developers and researchers,. Nevertheless, the company now realizes it cannot simply rely on open source. They need a lossy visionary leader to mold their AI future, which is why Alex Wang is in the limelight.
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"We should never be a gated, gilded city on a hill where people don't know their neighbours."When Zuckerberg and Chan first made plans for their compound about 10 years ago, they held a meeting for roughly 20 neighbours in the kitchen of their Edgewood home. They presented their vision of the project and assured the neighbours they would provide off-site parking for workers and would not tear down any homes, recalled Kieschnick, who attended the of those promises were broken, he said. The couple's spokesperson said no such promises had been all, eight years of construction ensued. It has largely stopped over the past several months, but neighbours are still bitter and expect more to come. They said their driveways had been blocked, their tires flattened by construction debris and their car mirrors knocked off by said workers regularly parked cars and ate lunch in front of their homes. Zuckerberg, the workers told them, wanted the frontage of his home on Edgewood kept numerous trucks rumble in, delivering food, decorations and furniture for parties. Sometimes, the street is blocked for days, neighbours said. Those on Hamilton said their road was used as the compound's shipping and receiving dock, and parking time usually includes valet parking for partygoers in gowns and tuxedos, or costumes if the theme calls for them, neighbours said. The music is often loud, sometimes prompting complaints to the nonemergency police line. neighbours said they did not usually get a and Chan held their wedding at the property. In October, they held a disco party there, Zuckerberg in white pants and a gold chain and Chan in sequined gold pants and a one-shouldered top. "Disco queen wanted a party," Zuckerberg wrote on Instagram Smaller events, including those for Meta employees, neighbours said, take place more frequently. In late July, when police provided the free signs to affix to trees, three big, dark vans stopped in front of the compound. Scores of people, mostly young men in hoodies, filed out and into the compound. Security guards stood outside, eyeing Forgie, a retired lawyer who has lived in Crescent Park for 20 years, said he and his partner have long had an open-door policy for their neighbours, welcoming them over and giving gifts when people move in or have babies. None of that has worked on Zuckerberg."We tried to bring him into the fold," Forgie said. "It's been rebuffed every time."Kieschnick said when Zuckerberg bought the home next door, Zuckerberg's staff members informed him the wooden fence that separated the two homes -- and had a gate for children to scurry through -- did not meet Facebook standards. It has since been rebuilt twice, thicker and taller each time, he said the staff also installed security cameras in Zuckerberg's garden looking into his own garden. When he threatened to install cameras in his own yard looking into Zuckerberg's property, employees promptly took them staff has made some accommodations. The security guards now sit in quiet electric vehicles rather than in louder gas-powered cars. Zuckerberg does not attend the annual block parties, which are very small these days, but he did send an ice cream cart to the last his staff has sent gifts to neighbours when the racket has gotten particularly loud, including bottles of sparkling wine, chocolates and Krispy Kreme memorable gift delivery? Noise-cancelling headphones.
