Meet Mira: the brains behind ChatGPT 👩‍💻

“Find out what you like doing best and get someone to pay you for it.”

— Katharine Whitehorn

👋 GM! Rallie, here. The crypto and tech newsletter that's like a loyal puppy, always by your side. 

On the menu:

• 🚩 Is Silvergate solvent?

• 🗞️ Headlines that hit

• 👩‍💻 OpenAI's female CTO

• 📈 Refresh: tech terms

• 💯 Top tweets

Rallie Recap

🚩 The first rule of running a bank: don't delay filing your annual report. 

• On Wednesday, Silvergate, a crypto-focused bank with heavy exposure to FTX, announced that it will delay filing its annual report with the SEC because the financials may not be reliable. Talk about a red flag.

• This sent Silvergate's stock (NYSE:SI) plunging 30% in after-hours trading over questions if the bank is solvent.

• News then hit that Coinbase is no longer using Silvergate to facilitate payments for its institutional clients, which sent shares tanking another 45% in premarket trading this morning.

• But there's more... the crypto bank is at a high short-squeeze risk as short positions account for 73% of its outstanding shares... and since 2021, the bank has lost nearly 95% of its value. Yikes.

• Experts are chiming in, saying "Silvergate arguably did not adequately prepare itself for the huge cryptocurrency business cycles. While it operates as a bank, its depositors are all situated in an extremely volatile business, giving the bank far more risk exposure than traditional banks."

👀 We'll be watching when those reports are finally filed. 

Headlines That Hit

• 📉 Even Elon can't win 'em all. Tesla shares slide despite a positive sentiment from the company's Investor Day Event.

• 🚀 Salesforce with the strong sales forecast... shares spiked as much as 12% in after-hours trading on Wednesday.

• ⛔ Is the US next? Canada bans TikTok on government-issued cellphones.

• ✈️ Ready for takeoff. Delta’s pilots approved a new four-year contract with 34% raises. 

Why We Rallie

🤩 Spoiler alert: we're about to fangirl. 

By now, we all know that OpenAI created the hottest product of the year: ChatGPT. But did you know that the company's tech team (and the brains behind the revolutionary chatbot) is led by a women? It's true! Her name is Mira Murati—and here's a few facts about the Chief Technology Officer:

• She's young: A native Californian, Mira Murati is only 36 years old and was born and raised in San Francisco.

• She's got STEM energy: She did her Bachelor of Engineering from the Thayer School of Engineering at Dartmouth College in the US.

• Her resume is stacked: She kicked off her career as a Summer Analyst at Goldman Sachs, moving on to be a senior product manager of Model X at Tesla from 2013 to 2016.

• She's no newbie to AI: Mira joined OpenAI in June 2018 as vice-president of applied artificial intelligence and partnerships. In May 2022, she took over as the Chief Technology Officer, leading the ChatGPT development.

• She's a trilingual baddie: Mira is Albanian with Indian lineage and she speaks English, Italian and Albanian.

Rallie Refresh: Tech Terms

Listen, we're not perfect (shocker, right?) and sometimes we throw around acronyms in this newsletter (sorry!) ...so in an effort to ensure everyone is up to speed, let's define some popular terms in the tech industry:

1. Chief Technology Officer (CTO): The highest ranking tech person in a company. They're responsible for the technical strategy and direction of the company. They oversee the tech department and make decisions about which technologies the company should use to achieve its goals.

2. Chief Product Officer (CPO): Another high-ranking executive in a company who is responsible for the development and strategy of the company's products. They oversee the product development process and make decisions about what products the company should create and how they should be designed.

3. Science, technology, engineering and math (STEM): Pretty self-explanatory.

4. User Interface (UI): This refers to the visual elements and layout of a digital product that a user interacts with.

5. User Experience (UX): The overall experience a user has when interacting with a digital product, including factors like usability, accessibility, and satisfaction.

The more you know! 📈📈📈

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Congrats, you made it to the end! 

That's all for today. Stay hungry & we'll catch you next time. ✌️ 

DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.