In Short:
Bill Gross, known for inventing pay-per-click advertising, has founded a startup called ProRata which aims to pay publishers and individuals when AI companies use their work. The company has raised $25 million and partnered with big names like Universal Music Group and The Financial Times. ProRata’s business model involves revenue-sharing deals to ensure fair compensation for copyrights. Gross plans to expand partnerships and launch a search engine using exclusively licensed data in October.
The Story of Bill Gross’s Latest Venture, ProRata
Bill Gross gained recognition in the tech industry in the 1990s for his innovative advertising model known as “pay-per-click.” Now, he has founded a startup called ProRata with a bold business model called “AI pay-per-use.”
Challenging the Generative AI Industry
As the CEO of ProRata, Gross criticizes the generative AI industry, accusing it of “shoplifting” and using the world’s knowledge for their own gain. He disputes the notion that scraping data from the internet is legally permissible, calling it “bullshit.”
A Solution for Fair Compensation
ProRata aims to address the issue by establishing revenue-sharing agreements to ensure that publishers and individuals are compensated when AI companies use their work. Gross emphasizes the importance of fairness and avoiding lengthy legal battles.
Partnerships and Collaborations
ProRata has raised $25 million and forged partnerships with major entities, such as Universal Music Group, The Atlantic, and prominent authors like Tony Robbins. The company has also attracted interest from media outlets and high-profile individuals seeking fair compensation for their content.
The Future of ProRata
While ProRata’s vision is ambitious, it is still in its early stages. The company plans to launch a subscription-based chatbot-style search engine in October, utilizing licensed data exclusively. Gross is determined to uphold ethical practices, avoiding data scraping from sources like Reddit.
