April 6, 2023
what we are watching
empowering you with insights and information from the edge of today’s headlines
Technology
AI is still top of mind: Stanford University released its 2023 AI Index report, a 385 page paper on the AI industry. The paper highlights the progress of the new technology, and some of the risks since it is in corporate (rather than government or regulated) hands. AI is also taking another page out the Web3 playbook — AI is expending a lot of resources (through training), and may become harmful to the environment, although AI itself may have the power to solve this.
OpenAI finally responded and outlined their approach to AI safety. They discuss data privacy and the protection of children, as well as the fact that all use cases and consequences can’t be foreseen in a lab.
Germany, however, may take a cue from Italy and may ban ChatGPT over data security concerns. France, Ireland, Sweden and the EU are also weighing how to formulate their own data protection regulations in light of GDPR and AI. India, on the other hand, has opted not to regulate the growth of AI, but hopes to build the infrastructure to cultivate it.
One of our favorite new tools to play with is Perplexity: an AI powered search engine that you can use like ChatGPT, yet it shows it sources and is easily downloadable on your phone.
If you have an AI startup idea, you can apply to the AWS Generative AI Accelerator. Amazon is launching their 10-week program for global startup founders who will receive $300k in AWS credits to launch their business ideas.
Cost Cutting: The year of efficiency seems to have taken over the tech sector. After many tech layoffs, companies are now announcing cost-cutting measures that remind us of the Ace Greenberg paper clip memos at Bear Stearns (ifykyk). Google’s finance chief announced cuts to employee services that included the end to fitness services and staplers??, although Google Communications took to twitter to refute the message.
Watch what they do, not what they say: Amazon has its own Climate Pledge, committing to reach net-zero carbon emissions by 2040. However, Oregon legislators were working on a climate bill that would have set a 100% carbon emissions reduction deadline of 2040 for high energy users, and in turn, regulated Amazon’s data centers. Apparently, Amazon’s lobbyists were central in the fight to opposing the bill.
Jeff Bezos, on the other hand, has been keeping his motivations on the down low when it comes to the NFL. Bezos has been working behind the scenes, we think, to purchase the Washington Commanders. We guess this is what divorced, tech moguls do with their mid-life crises?
Sustainable Gaming: While you may not be able to get a PS5 for your children (or yourself), you can make yourself feel a little better by buying the Xbox’s new controller made out of sustainable materials. Xbox will be releasing the Remix Edition Controller in time for Earth Day, which is made from recycled controller parts.
Ad Astra: NASA announced the Artemis II mission, the first crewed moon mission in 50 years. The four astronauts who will attempt a lunar flyby in November 2024 include 3 Americans, 1 Canadian, 1 woman, and 1 person of color.
Politics
What is going on Tennessee: We didn’t think Tennessee could go any lower than Cocaine Bear, but the Tennessee legislator said ‘hold my beer,’ following last month’s school shooting. Protesters gathered at the Tennessee Capitol last week demanding action on gun safety, and the protest moved into the House chambers. As a result, instead of passing any gun regulations, the legislature moved to remove several democratic members of the statehouse who participated in the protest. Just two other House members have ever been ousted from the chamber since the Civil War.
Tomato, to-mah-to: The Italian government wants to ban the use of English in commercial use and official documents. Public employees could reportedly face fines, ranging from 5,000 to 100,000 euros if they are caught using foreign instead of Italian words in any public communication. The law is meant to maintain the Italian culture and language, and is similar to a French law already in place, but is also reminiscent of a law passed in 1923 by Mussolini.
The Mouse’s House: Bob Iger retook the helm of Disney in November 2022, and he has amassed several wins, including fending off an activist investor and outfoxing the Florida governor’s oversight board. However, Disney’s lawyers have one more opponent to be wary of: John Oliver of HBO. The copyright for Mickey Mouse goes into the public domain next year, and Disney has usually been able to get politicians to extend its copyright protection (see the Sonny Bono Copyright Term Extension Act of 1998). With the political headwinds not on its side, or at least not its governor, Disney will have to fend off John Oliver, in one of his latest taunts.
Speaking of Trademarks: Chipotle filed a trademark infringement suit against Sweetgreen over the salad chain’s new “Chipotle Chicken Burrito Bowl.” Apparently chipotle is no longer just a dried jalapeño pepper.
Finance
Inventing Frank: In 2021, JPMorgan was somehow swindled into purchasing the “Amazon for higher education,” for $175M. Frank, the student loan fintech, claimed it had over 4M users signed up, using its tool to apply for federal aid. Unfortunately, Frank’s customer list was fake (the site had only 300k users), and the SEC has now charged the CEO with fraud.
Culture
Pink is the new black: Greta Gerwig’s Barbie’s new trailer dropped this week, and while we were at first in awe of Margot Robbie’s perfect encapsulation of the Barbie foot pose, we were then struck by the enormity of the stellar cast for such a campy movie where everyone is either name Barbie or Ken. If you can’t wait until July, when the movie actually hits the screens, you can create your own Barbie Movie Poster with the Barbie Selfie Generator (which instantly spawned a thousand memes).
Like Oil and Water: We are not big coffee drinkers, but we can’t imagine that adding olive oil to your coffee would actually make it taste better? Starbucks, however, is launching Oleato in the US (which debuted in Italy earlier this year), and contains olive oil in both hot and cold coffees. Maybe this is Howard Schultz’s attempt to coat the Millennial taste buds, so they’ll stop asking for the rainbow drinks and over-the-top creations from the baristas?
Influencer becomes Brand Ambassador: You may have heard of Dylan Mulvaney, she is a trans influencer/actor who has shared her transition publicly on TikTok. Dylan has amassed over 10M followers on TikTok, and as a result, brands have been knocking on her door for paid partnerships. For March Madness, she partnered with BudLight, and she also has a partnership with Nikewomen. This seems to have hit a nerve with some: in protest, Kid Rock bought several cases of BudLight, and proceeded to shoot it up with his rifle. Nothing like making a point of not supporting a company, by buying its product, and then not drinking it?
Lego Lilies: Ai Weiwei, the Chinese activist and artist, has recreated Monet’s Water Lilies using 650k Legos, in a 15-meter piece unveiled at London’s Design Museum. This is not the first time Ai has worked with Legos, and the exhibition also includes his signature middle finger portraits. He has also launched an online art project inviting users to collaborate with him by “flipping off” famous landmarks and buildings. Download the finger at will.
— Lauren Eve Cantor
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