Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
The founder of FedEx Corp., Fred Smith, who transformed the express delivery sector, passed away according to the company’s announcement. He was 80 years old.
FedEx commenced operations in 1973, providing rapid delivery services for small packages and paperwork faster than traditional mail options. In the subsequent fifty years, under the leadership of Smith—a former member of the Marine Corps—the firm expanded into an enterprise that came to be seen as an indicator of economic health due to how extensively other businesses depend on it.
Based in Memphis, Tennessee, FedEx evolved into a major global transportation and logistics firm that handles approximately 17 million deliveries each business day. Although Smith relinquished his role as CEO in 2022, he continued serving as executive chairman.
Johnson, who graduated from Yale University in 1966, utilized a business concept he developed during his college years to establish a delivery network anchored around synchronized air freight services focused on a central hub—a model later referred to as the "hub and spoke" system.
The firm was instrumental in driving American businesses and industries towards adopting more timely delivery methods and reducing their reliance on substantial stockpiles and storage facilities.
Smith previously informed The Associated Press that he chose the name Federal Express because he desired the company to appear large and significant, even though it was an emerging venture with uncertain prospects ahead.
Initially, Smith was attempting to secure a significant shipping deal with the Federal Reserve Bank, but unfortunately, it did not materialize.
Initially, Federal Express started with 14 small planes operating from the Memphis International Airport, delivering parcels to 25 cities across the United States.
Frederick Smith, who shared his son’s first name, amassed a modest wealth in Memphis through operating a local bus company and engaging in various entrepreneurial activities. After completing his university education, young Smith opted to serve in the U.S. Marine Corps and earned the rank of second lieutenant. In 1969, upon concluding two deployments in Vietnam, he departed from active duty at the rank of captain. During this time, he was honored for displaying exceptional courage under fire and sustaining injuries in battle.
In a 2023 interview with The Associated Press, he stated that all his actions at FedEx were inspired by his time in the Marines rather than what he had learned at Yale.
Starting Federal Express wasn’t an easy feat. At the time, overnight deliveries were unfamiliar to most U.S. businesses, and the company needed to establish an entire fleet of airplanes along with interconnected flight paths right from inception.
The former President George W. Bush issued a statement commending Smith as "one of the outstanding Americans of our era," and described FedEx as an "innovative business that significantly boosted our economy."
Until 2021, Smith was a minority shareholder in the Washington Commanders NFL franchise. That year, owner Daniel Snyder along with his family purchased the stakes owned by Smith, Dwight Schar, and Bob Rothman. Additionally, Arthur, Smith’s son, served as the head coach for the Atlanta Falcons over a span of three years and presently holds the position of offensive coordinator for the Pittsburgh Steelers.
Although he was one of Memphis’ most recognizable and notable residents, Smith typically shied away from the limelight, focusing his efforts on his career and loved ones.
Despite his low profile, Smith made a cameo appearance in the 2000 movie “Castaway” starring Tom Hanks. The movie was about a FedEx employee stranded on an island.
Fred Smith, Memphis' foremost resident, has passed away," stated U.S. Representative Steve Cohen from Tennessee, highlighting Smith’s contributions to entities like the University of Memphis and the local zoo. "FedEx serves as the backbone of our economic system, with Fred Smith being its trailblazing creator. Beyond this, however, he was an ardent community member whose passion for our city ran deep.
Smith seldom promoted the charitable contributions he and his family provided, yet he consented to discuss with AP in 2023 a donation to the Marine Corps Scholarship Foundation aimed at establishing a new scholarship program for kids from Navy families who were seeking education in STEM fields.
"What has intrigued me are the institutions and the causes, rather than the naming or the recognition," Smith stated at the time.
When asked about the significance of contributing to the welfare of the community, he responded:
America stands as the most benevolent nation globally. The yearly charitable donations made by Americans are truly remarkable, ranging from minor acts of kindness to significant healthcare programs and the efforts of the Gates Foundation," he stated. "If someone has thrived in this country, it seems rather ungrateful not to contribute a substantial part of their success toward public welfare. This aligns with the noble legacy of American philanthropy.
This tale initially surfaced in Los Angeles Times .