OpenAI DevDay | Sam Altman, Alexander Embiricos, Andrew Ambrosino, Peter Steinberger, Tibo Sottiaux, Kath Korevec, Casey Neistat

Jordi Hays (0:00)

You're watching TBPN.

John Coogan (0:02)

Today is Tuesday, September 29th, 2026 We are live from OpenAI Dev Day 2026

Jordi Hays (0:08)

That's right.

John Coogan (0:09)

We're very excited.

Jordi Hays (0:10)

Beautiful day.

John Coogan (0:10)

You're beautiful day in San Francisco. We don't get up here nearly enough, but what a fantastic day to be here. Bunch of interesting launches, bunch of guests from OpenAI joining us. We have Sam Altman joining us in just about 10 minutes.

Jordi Hays (0:23)

Bunch of friends here. Amazing opportunity if you're here, walk in the background and get a screenshot of it. We'll get a little picture together. I see Jeff from Stripe over here hanging out. We're live, Jeff. We're talking about you.

Great to see you. Come in the background. This is Mr. Agentic Payments over here.

John Coogan (0:41)

That's true.

Jordi Hays (0:42)

Captain Agentic Payments. We're live. Jeff, you're live. We're live. We just started. Anyways, we'll get back to the show. There we go.

Anyways, having a lot of fun here. Great group. Before we get in to a bunch of great guests, we should talk about the news. Anything going on?

John Coogan (0:58)

Well, there's Ramp, Time is Money, Save Both, Easy Use, Corporate Cards, Bill Pay, Accounting and a whole lot more all in one place. Always a good chance to tell people about Ramp. The headline on Dev Day, just to kind of set the table, 2,500 attendees. It's been four years in a row now.

20 launches today. I think the number might be higher, depending on how you slice them up. And the big numbers that they put on stage. ChatGPT is now used by more than 1.2 billion people every week. Over 35 million people build with ChatGPT work in Codex every week. And the big launch was personal AI agents, DOTS, but also ChatGPT Spaces, GPT 6.1 Sol, and a bunch of other stuff around Sites, Codex, and work that we will get into. But let's take people through some of the other stories that we should cover. I'm sure we'll be covering this more tomorrow as well.

Jordi Hays (1:47)

We start with the Aura loss, John.

John Coogan (1:50)

You want to go straight there?

Jordi Hays (1:51)

Let's get straight into it.

John Coogan (1:52)

There's so many other stories.

Jordi Hays (1:53)

Some unfortunate news. The Aura IPO seems to be taking a pause or a bit of a slowdown.

John Coogan (2:02)

Yeah. The headline is, Smart Ringmaker Aura Delays IPO Due to Market Uncertainty. Joe Weisenthal isn't really buying it. He says the S&P 500 is up 12% this year, and companies are delaying their IPOs due to market conditions. I saw some commentary on this saying that their IPO is oversubscribed by 4.4x. That sounds great. The historical average is, I think, like 2.5x, something like that. So why did they pull it? That's confusing.

I talked to some other folks who said, no, in more recent eras, you've seen IPOs go out at 10x oversubscribed, 15x oversubscribed.

Jordi Hays (2:39)

I think Figma was something like 30 or 40

John Coogan (2:41)

It was a crazy, crazy multiple, yeah. And also, I believe this IPO was going to be pure secondary.

Jordi Hays (2:48)

Yeah, it's not like they need the cash.

John Coogan (2:50)

Yeah. And so it was more of like a marketing and excitement, a key moment for the company. It wasn't a necessary financing round right now. And so they can pull back and keep building.

Jordi Hays (3:00)

So on one hand, amazing product.

John Coogan (3:03)

Yeah.

Jordi Hays (3:04)

Have managed to have relatively little competition in the ring category despite much broader competition of wearables.

John Coogan (3:11)

Yeah.

Jordi Hays (3:12)

It seems like it's a great business. I think investors generally are going to be a little apprehensive to own a name that is in any other decade was at scale, but now feels like subscale relative to some of the other action in the market.

John Coogan (3:29)

Yeah.

Jordi Hays (3:30)

And so I'm sure they'll be back. But yeah, unfortunate news.

John Coogan (3:34)

Are there any rumors of direct competition from the bigger companies like Apple or Madden?

Jordi Hays (3:39)

I don't know. This always felt like something that Apple should have bought.

John Coogan (3:41)

Totally. Or competed with. I mean, they didn't buy Pebble. They just launched the Apple Watch, but they did very well in that category.

SPEAKER_4 (3:47)

Yeah. But maybe it's just subscale.

Jordi Hays (3:49)

In many ways, it feels like it would make a lot more sense than, let's say, like a Beats by Dre to just fit in to the whole Apple ecosystem.