← The Moat

Volume 08 · Chapter 3 of 10 · Free to read

The Invoice — Adept, June 28, and a Shop That Stayed

Complete chapter · 12 min read · Terms of Extraction

June 28, 2024. Adept said in a blog that co-founder and CEO David Luan, and several other co-founders and employees, were leaving to join Amazon. Amazon would pay a licensing fee to use some of Adept's technology. An Amazon spokesperson declined to disclose terms of the non-exclusive deal, in the Reuters walk. Adept would continue to operate independently. The San Francisco shop had raised over $410 million and was valued above $1 billion, in that walk. I will not freeze 410 or a billion as wires I held. I will say a blog can name a leave, and that a leave can share a Friday with a license, and that a license is not a caption I will upgrade to a merger I sat.

Rohit Prasad, in an internal memo the rooms walked: David Luan and co-founders Augustus Odena, Maxwell Nye, Erich Elsen, and Kelsey Szot, and a few other team members, to the AGI team. Amazon licensing Adept's agent technology, family of multimodal models, and a few datasets, to accelerate a roadmap for digital agents that automate software workflows. Zach Brock, head of engineering, would become CEO. About 20 employees would remain, in a Bloomberg walk. I will keep about 20. I will not freeze 20 as a census I counted. I will say a remainder can be a public, and that a public is not a finding that a shop is a person.

August 2, 2024, Semafor: investors would get their money back even though ownership had not changed. Adept would receive around $25 million; investors who had put about $414 million in would roughly recoup, in that walk. The process was overseen by Luan, in that telling. The FTC had sent a list of questions to Amazon about the Adept relationship, Reuters first reported and Semafor confirmed. I am putting questions next to recoup so a grocery line cannot call June a disappearance of a caption. Questions are weather. Recoup is a walk. Neither is a verdict. I will not typeset a make-whole as a how-to.

Perrin is not Adept. I am putting that sentence here so a grocery line cannot make her a founder I invented. She paid an API invoice in a rented suite. She is the counterpart. The shop that stayed is a public. Two kitchens.

The Memo That Named a Team

Rohit Prasad, senior vice president and head scientist over the AGI unit, in the memo GeekWire walked and Amazon confirmed: please join me in welcoming David Luan, the founder and former CEO of Adept, as well as his co-founders Augustus Odena, Maxwell Nye, Erich Elsen, and Kelsey Szot, and a few other deeply talented team members to our AGI team. Luan would oversee AGI Autonomy and report to Prasad, in the CNBC walk of that memo. Amazon is also licensing Adept's agent technology, family of state-of-the-art multimodal models, and a few datasets, which will accelerate a roadmap for building digital agents that can automate software workflows. I will keep the names as a memo's names. I will keep AGI Autonomy as a heading. I will not invent a dollar inside the license. An Amazon spokesperson declined to disclose terms of the non-exclusive deal. Declined is a mouth. A mouth is a public.

Zach Brock, head of engineering, would become CEO. Tim Weingarten would remain head of product, in the GeekWire walk. Adept had around 100 employees according to LinkedIn, in that same walk; the company declined to share headcount. Update, still in that walk: Amazon said around 20 employees will remain at Adept. Semafor, August 2: Adept still retains about a third of its employees. I am lining 100, 20, and a third so a grocery line cannot freeze a remainder as a census I counted. Three walks. One June and one August. A LinkedIn around is a walk. An Amazon around is a walk. A third is a later walk. I will not add them. I will not typeset a remaining as a person.

Briggs sells jam-jar lids in a sleeve that still has a count. I bought a sleeve I did not need because Osric still keeps pouches in a jar and a remainder still wants a lid that is not a kit. He asked if I was canning. I said I was dating a twenty. He said twenties are for bills. I said this twenty is a walk of a shop. He dated the receipt. Counts are honest. Censuses are a later costume I will not wear.

Sibley asked if a third was a stain that grew from twenty. I said they were two walks. She said walks are for dogs. I said these walks are a remainder I did not count. She wiped the nine. I did not write 20 on the pouch.

The Recoup That Is Not a How-To

August 2, 2024, Semafor: investors would get their money back even though ownership had not changed. Adept would receive around $25 million; investors who had put about $414 million in — Greylock and General Catalyst named in that walk — would roughly recoup. The process was overseen by Luan, according to some of the people familiar with the matter, in that telling. He did not return requests for comment, in that walk. I will keep roughly recoup. I will keep overseen. I will not typeset a make-whole as a structure you can copy. A recoup can be a public. A public is not a kit.

GeekWire walked investors including General Catalyst and Spark Capital — which led the Series B, in that telling — along with Workday Ventures, Atlassian Ventures, Greylock, Addition, and others. NVIDIA sat in other walks of the cap table. I will not freeze a cap table as a census I sat. I will say a shop can have names a later grocery line will try to spend as a merger I held. I did not hold a merger. I held a blog and a memo and a Semafor walk.

Amazon said, in a previous statement Semafor walked, that it did not consider it an acquisition because it was not interested in owning Adept's business and technology. I will keep did not consider. I will keep not interested in owning. A consider is a mouth. A mouth can share an August with questions the FTC sent. Questions are weather. A consider is a mouth. Neither is a verdict.

Adept's own blog, in the rooms that bother with a pivot: developing its own foundation models would have required more capital; the Amazon deal would allow a focus on building agents. I will keep the pivot as a blog. I will not upgrade a blog to a finding that a shop chose correctly. A grocery line will try to spend agents as if they were a halo. Agents are a product word. A product word is not a clearance.

TechCrunch walked talks with Meta and Microsoft over the prior months about a potential acquisition, and said Microsoft had previously invested. I will keep walked talks. I will not freeze a talk as a deal I sat. A talk is weather. Weather is not a caption.

Ashish Vaswani and Niki Parmar, co-founders, had left earlier, in the TechCrunch walk. I will keep the leave as a public. I will not invent a reason. A leave can share a shop with a later June. Sharing is a calendar.

The FTC had sent a list of questions to Amazon about the Adept relationship, Reuters first reported and Semafor confirmed. I am putting questions in this second lighting because a grocery line will spend June as a disappearance and August as a raid. Questions are weather. Recoup is a walk. A consider is a mouth. Three sentences. One shop that stayed.

Osric wrote Prasad memo / AGI Autonomy / Brock CEO / Weingarten product / ~100 LinkedIn / ~20 Amazon / ~third Semafor / do not add / ~$25M + ~$414M recoup / not interested in owning / FTC questions and boxed do not add. He laminated a flyer that had used the word acqui-hire. He said acqui-hire is a brochure. I said acqui-hire is a polo word for a license plus a team. He dated the pad.

Ewan sells yellow pads in a stack that still has a chipboard. I bought a stack I did not need because Osric still writes questions and a dining table still wants a paper that is not a kit. She asked if I was studying. I said I was dating a weather. She said weathers are for coats. I said this weather is a list of questions. She dated the receipt. Chipboards are honest. Verdicts are a later costume.

Royce asked whether "not interested in owning" meant "they got it cheaper." I said cheaper is a polo word. He said then why the investors. I said investors are a Semafor walk. He wrote a five. I took a six. I did not enjoy it.

Voss said frictionless talent continuity. I said continuity is a vest hoping a memo is a merger you do not file. He said then why the FTC. I said the FTC is a list of questions. He buffed a shoe.

Perrin asked whether "the Amazon thing" meant her API vendor had bought a shop. I said I would not invent her vendor, and that she is still not Adept, and that a remainder is a public I will not give her as a brochure. She paid for the coffee. I paid for the pie that had given up.

I will not give you a license you can copy. I will not give you a recoup you can structure. I will tell you June 28 happened, that Prasad named a team, that AGI Autonomy sat in a memo, that Brock and Weingarten sat in a remainder, that 100 and 20 and a third are walks I will not add, that ~$25 million and ~$414 million are a later walk, that not-interested-in-owning is a mouth, that questions are weather, and that Perrin is still not the shop. The next room is a hire a UK authority called a merger. The invoice is still this one.

The Agent That Stayed a Blog

Adept's public rooms, before June 28, named ACT-1 — an agent that uses software as a person uses software, in the walks that bother with a demo — and Fuyu, a family of multimodal models, in the walks that bother with a release. I will keep ACT-1 as a public name. I will keep Fuyu as a public name. I will not remake another book's demo theater as this agent. That kitchen had a cutdown and a More button. This kitchen has a name that sat in a shop that later licensed a family. Two kitchens. I will not add them. I will not typeset an agent you can ship.

The Adept blog, in the June weather I already walked: developing its own foundation models would have required more capital; the Amazon deal would allow a focus on building agents. I am lighting the pivot a second time because a grocery line will spend agents as if they were a halo, or spend a remainder as if it were a person. A pivot can be a blog. A blog is a public. A public is not a finding that a shop chose correctly.

TechCrunch walked dysfunction: two co-founders gone early; months of testing; a product that had struggled to reach a market, in that telling. I will keep walked. I will not freeze a struggle as a verdict I sat. A walk can name a struggle. A walk is not a caption. I will not invent Perrin into a tester. Perrin paid an API invoice. Adept licensed a family. Two kitchens.

Amazon's mouth, already walked: not an acquisition; not interested in owning the business and technology. I am putting not-interested next to ACT-1 so a grocery line cannot spend a public name as if it were a purchase I held. A name can stay on a blog. A team can leave on a Friday. A license can be non-exclusive. Three sentences. One June. I will not add them into a novel that says a shop disappeared. About 20 remained, in one walk. A third remained, in another. I will not add those either. I already boxed do-not-add. I am allowed a second lighting because a grocery line will lose the remainder.

The FTC's list of questions, already walked, sat in the same summer as Inflection's CMA file and Character's August blog. I will not write a plot that says the questions called the clearance. Calendars are not switchboards. Questions are weather. A clearance is a decision. A blog is a blog. Three rooms. One hall.

Osric wrote ACT-1 public / Fuyu public / pivot blog / not a demo I remake / not interested next to a name / questions ≠ clearance and boxed ≠. He laminated a flyer that had used the word agent. He said agent is a brochure. I said agent is a public name and also Perrin's invoice in a different kitchen. He dated the pad.

Sibley asked if an agent was a stain that did a person's job. I said it was a blog name. She said names are for people. I said this name is a shop that stayed. She wiped the nine.

Royce asked whether "ACT-1" meant "they already had the product." I said already is a polo word. He said then why Amazon. I said Amazon is a memo and a license. He took a cart.

Perrin asked whether "the agent thing" meant her API was ACT-1. I said I would not invent her file, and that she is still not Adept, and that a diner is not a Fuyu. She paid for the coffee.

I will not give you an agent you can ship. I will not give you a recoup you can structure. I will tell you ACT-1 and Fuyu sat in public rooms, that a pivot sat in a blog, that not-interested sat next to a name, that questions are still weather, and that Perrin is still not the shop. The next room is still a hire a UK authority called a merger. The invoice is still this one.

Osric wrote Adept Jun 28 / Luan+cofounders / non-excl license / ~20 remain / ~$25M + recoup walk / FTC questions / not a verdict and boxed questions. He laminated a flyer that had used the word ecosystem. He said ecosystem is a brochure. I said ecosystem is Perrin's dashboard.

Sibley asked if a remaining twenty was a stain that did not lift. I said it was a walk of a remainder. She said remainders are for sales. I said this remainder is a shop. She wiped the nine.

Royce asked whether "the Amazon thing" meant "they bought it." I said bought is a polo word. He said then why the investors. I said investors are a Semafor walk. He took a cart.

I will not give you a license you can copy. I will tell you June 28 happened, that non-exclusive is a mouth, that about 20 is a walk, that recoup is a later walk, that questions are weather, and that Perrin is still not the shop. The next room is a hire a UK authority called a merger. The invoice is this one.


End of chapter 3 · The Moat

I wrote this series with AI. If you are choosing where to spend your money, skip ordering my books and support the original researchers and journalists instead.

They warned you — read and support their work ↗