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🎉 This company just banned ChatGPT 👀

🎉 This company just banned ChatGPT 👀

Today’s edition is brought to you by Morning Brew. The daily email that makes reading the news enjoyable. Stay informed and entertained, for free.

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Good Afternoon Party People! 🎉

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🤖 The company that banned ChatGPT

🤨 When promotions backfire…

💸 The startup founder who pays employees more than herself

And, of course, MEMES!

MEME OF THE DAY

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Morning Brew

Today’s edition is brought to you by Morning Brew. The daily email that makes reading the news enjoyable. Stay informed and entertained, for free.

AI

The Company That Banned ChatGPT

Imagine you’ve finally cracked the code. You’ve played around with ChatGPT for a while now, and you’ve figured out how it can help streamline your job.

And then it gets banned by your employer.

Despite investing billions of dollars into OpenAI, Microsoft barred employees from using ChatGPT last Thursday. The company cited security concerns as the reason for the ban.

“Due to security and data concerns a number of AI tools are no longer available for employees to use. While it is true that Microsoft has invested in OpenAI, and that ChatGPT has built-in safeguards to prevent improper use, the website is nevertheless a third-party external service…”

Microsoft also banned employees from using Canva for a brief period, but later reinstated access. They eventually reinstated access to ChatGPT as well, but not before causing a bunch of confusion among employees.

The company later came out and said the whole thing was a mistake and part of a security test concerning large language models.

Weird.

As ChatGPT and other AI tools become more prevalent, it will be interesting to monitor if other companies issue bans on the technology.

JOBS

When Promotions Backfire…

Promotions help buy employee loyalty…right??

Not so much.

The ADP Research Institute analyzed over 1.2 million job histories of US workers between 2019 and 2022. Recently promoted employees were the most likely to leave the company that just promoted them. 29% of people quit their jobs within a month of being promoted.

It turns out that once employees get a new, fancy title, they’re much more likely to start shopping around. And recruiters notice the recognition and reach out with new opportunities.

The rate of internal hires and promotions (in relation to total hires) is down to 24% compared to 40% from 2020.

"People must be promoted for the right reasons. People should be promoted either because they applied for and got a job at a higher grade with a higher level of responsibility, or their job has shifted enough that it warrants being assigned a higher salary and title. But oftentimes promotions happen as a retention tactic, or as a way to pay people more money or when organizations are desperate to fill a role.”

Amy Leschke-Kahle, ADP

One would think that a pay increase and a new title would help with employee retention. But job seekers are shopping around and figuring out that they can make more money by leveraging their new titles.

PAY

Startup Founder Pays Employees More Than She Pays Herself

We have all heard the stories of tech CEOs who pay themselves tens of millions of dollars per year. But these are often publicly traded companies with thousands of employees that have been around for decades.

What often goes unseen is the startup founders who don’t pay themselves much at all.

Chelsea Fagan, founder of The Financial Diet recently went viral on TikTok for sharing that she’s the 5th highest-paid employee at her own company.

The 34-year-old founder said she’s kept the same base salary of $90k for the last five years, despite some employees having salaries up to $200k.

The Financial Diet offers 4-day workweeks and six weeks of PTO. The company also participates in profit-sharing among all employees.

"For me, it's very important to de-center work as identity and not really make it the primary focus of everyone's life.”

Many people don’t believe work-life balance applies to startups. After all, it is difficult to take something from idea to a revenue-generating monster.

In an era of hustle culture, Fagan’s perspective is refreshing.

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