Blake and David look into OpenAI's complex entity structure and potential conversion from nonprofit to for-profit, highlighting the significant financial implications. They also discuss the challenges facing FreshBooks amid recent layoffs and shifting market dynamics and then explore the journey of Vuori's CEO Joe Kudla, emphasizing how his accounting background contributed to the company's success. Wrapping things up, we’ve got listener questions about the value of CPA licenses and growing advisory services in accounting firms.

Sponsors
Relay - http://accountingpodcast.promo/relay
Ignition - http://accountingpodcast.promo/ignition
Mercury - http://accountingpodcast.promo/mercury

• (02:15 ) - OpenAI's Nonprofit to For-Profit Dilemma
  


• (05:44 ) - Understanding OpenAI's Complex Structure
  


• (13:28 ) - The Financial Implications of OpenAI's Transition
  


• (27:34 ) - Vuori's CEO: From Accounting to Fashion
  


• (34:44 ) - The Power of Pricing: Vuori's Success Story
  


• (35:09 ) - The Importance of Accounting in Entrepreneurship
  


• (36:48 ) - FreshBooks' Struggles and Market Position
  


• (39:42 ) - The Future of FreshBooks and Industry Trends
  


• (46:02 ) - Listener Mail: CPA Value and Audit Challenges
  


• (53:34 ) - Exploring Advisory Services and Technology Solutions
  


• (59:22 ) - Closing Thoughts and Community Engagement
  

Show Notes

OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia

https://www.reuters.com/technology/artificial-intelligence/openai-closes-66-billion-funding-haul-valuation-157-billion-with-investment-2024-10-02/

How Vuori’s Joe Kudla went from accountant to fashion industry success

https://www.goldmansachs.com/insights/goldman-sachs-talks/joe-kudla

FreshBooks lays off 140

https://www.accountingtoday.com/news/freshbooks-lays-off-140-staff-cites-challenging-18-months

SEC Charges Olayinka Oyebola and His Accounting Firm With Aiding and Abetting Massive Fraud

https://www.sec.gov/newsroom/press-releases/2024-157

Need CPE?

Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

Get in Touch

Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.

Sponsorships

Are you interested in sponsoring the Cloud Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info? 

Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities

TeePublic Store: http://cloudacctpod.link/merch

Subscribe

• Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
• YouTube: https://www.youtube.com/@TheAccountingPodcast
• Spotify: http://cloudacctpod.link/Spotify
• Podchaser: http://cloudacctpod.link/podchaser
• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast

Classifieds
Forwardly - https://www.forwardly.com/
Client Hub - https://clienthub.app/
Coefficient - http://accountingpodcast.promo/coefficientexpo 

Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd

Transcripts

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page