Hey @oakhillman!
There are a few different aspects to this question, depending on exactly what you want to do.
If you want to place an image beside some text, insert the image, then in the Image Block toolbar, click the “Align Left” or “Align Right” button. subsequent paragraphs will wrap around the image. Depending on your theme, you might also need to adjust the image size (check the Size setting in the Image Block sidebar).
For text blocks, there’s a Text Column Block that might fit your requirements.
For a more generic solution, allowing any blocks to sit beside each other, that’s currently in progress. The basic idea is looking pretty good, but it’s still going to need some work. Keep an eye on that PR for updates, it should hopefully be in a Gutenberg release soon!