Keith Rabois, returning as chairman of Opendoor, announced plans to drastically cut the company's workforce from 1,400 to around 200 employees, citing overstaffing and a need to realign with operational goals. He also criticized the company's remote work policies and diversity initiatives, vowing to shift focus back to merit and excellence. The company has recently seen a surge in stock price but faces internal restructuring amidst broader tech industry layoffs.
Opendoor's board chair Keith Rabois suggested the company could reduce its workforce by 85%, citing AI and technology as reasons, despite the company's recent 500% stock increase driven by retail investors and a new CEO appointment. Rabois criticized previous management's culture and diversity initiatives, indicating plans to overhaul the company's operations and culture.
Venture capitalist Keith Rabois has threatened to withhold campaign contributions from Republican candidates who vote against a bill aimed at forcing TikTok's parent company, ByteDance, to sell off the social media platform due to national security concerns. The House is expected to pass the bill, but its prospects in the Senate remain uncertain. Rabois' threat could influence Republican lawmakers, with former President Donald Trump and Tesla CEO Elon Musk opposing the legislation. If passed, ByteDance would have six months to sell off TikTok before it faces a ban in the United States.
Keith Rabois, a prominent venture capitalist known for his involvement in successful startups, has returned to Khosla Ventures after nearly five years at Founders Fund. He will be one of five managing directors in the firm's new $3.1 billion capital across three funds. Rabois, who is also known for his vocal support of the tech scene in Miami, will split his time between the Bay Area and Miami. His return reunites him with Khosla Ventures' founder Vinod Khosla and marks a significant move in the venture capital landscape.
Keith Rabois, a general partner at Founders Fund, will be leaving the firm to join Khosla Ventures as a managing director, marking a significant move in the venture capital world. His departure represents a loss for Founders Fund and a gain for Khosla Ventures, which recently raised $3.1 billion in new funds and is known for its early backing of OpenAI.
