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August 5, 2024, 1:55 PM
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| Tanaya Macheel / CNBC: |
Bitcoin dropped below $50,000, its lowest level since February 2024 and down 17% since August 3, and ether dropped 15% to ~$2,300, as global markets plummet — Cryptocurrencies tumbled amid a global market sell-off spurred by recession fears. — The price of bitcoin was last lower by 7% …
More: Reuters, Decrypt, CoinShares Research Blog, Cryptopolitan, CCN.com, The Block, New York Times, Wall Street Journal, New York Times, crypto.news, Bloomberg, Crypto Adventure, The Crypto Times, NewsBTC, CNBC, Decrypt, New York Times, The Block, Bloomberg, Bloomberg, Financial Times, Reuters, and NBC Bay Area
X: @justinsuntron, @jonwu_, @peruvian_bull, @tolstoybb, @thestalwart, @thestalwart, @levie, @loopifyyy, @smtuffy, @deitaone, @birdyword, @thestalwart, @iwriteok, @thestalwart, @naiivememe, @intocryptoverse, and @buccocapital
Forums: r/worldnews, r/business, and r/neoliberal
| Financial Times: |
Investor letter: Elliott Management says megacap tech stocks, particularly Nvidia, were in “bubble land”, and AI is “overhyped” and “not ready for prime time” — Hedge fund tells clients many supposed applications of the technology are ‘never going to actually work’
More: Investor's Business Daily, Proactive, Finbold, Mobile World Live, Electronics Weekly, Semafor, and Investing.com
X: @lessin, @annmlipton, and @aphclarkson
| Aditya Soni / Reuters: |
Apple, Nvidia, Alphabet, Amazon, Meta, and Microsoft stocks led a tech stock sell-off amid US recession fears; AAPL drops 5%, NVDA drops 7%+, and MSFT drops 3%+ — Apple (AAPL.O) and Nvidia (NVDA.O) led a sell-off in technology stocks on Monday as U.S. recession fears and Berkshire Hathaway's …
More: MacRumors, CNBC, CNBC, New York Post, Hindustan Times, Yahoo Finance, Digital Music News, Wall Street Journal, Reuters, Financial Times, New York Times, New York Times, InformationWeek, Quartz, Wall Street Journal, Wall Street Journal, CNBC, Reuters, Telegraph, MacDailyNews, and NBC News
X: @zerohedge, @nikitabier, @rawsalerts, @pitdesi, @yrechtman, @garymarcus, @kelseyhightower, @edludlow, @thestalwart, @spectatorindex, @squawkcnbc, and @ldignan. Forums: MacRumors Forums
| Samantha Cole / 404 Media: |
Sources: Nvidia scraped sources like Netflix and YouTube to train an unreleased foundational model; concerned staff were told they had full clearance to do so — Nvidia scraped videos from Youtube and several other sources to compile training data for its AI products, internal Slack chats …
More: Simon Willison's Weblog. X: @simonw, @simonw, @samleecole, @jason_koebler, @jason_koebler, @minimaxir, @samleecole, @minimaxir, @samleecole, @jason_koebler, and @josephfcox
Forums: r/singularity and Slashdot
| Cade Metz / New York Times: |
Elon Musk revives his OpenAI lawsuit, filing a complaint in California to allege that OpenAI, Sam Altman, and Greg Brockman breached OpenAI's founding contract — The Tesla chief executive has renewed claims that the A.I. start-up put profits and commercial interests ahead of the public good.
More: PYMNTS.com, PCMag, Windows Central, The Verge, Thurrott, The Guardian, Decrypt, Business Today, Engadget, Mercury News, Wall Street Journal, Reuters, AI News, Tech Xplore, CryptoSlate, Axios, South China Morning Post, Quartz, New York Post, Financial Times, Neowin, The Hollywood Reporter, CoinGape, Deadline, WinBuzzer, Android Headlines, and Daily Sabah. Forums: Slashdot
| Anne VanderMey / Bloomberg: |
AI chip startup Groq raised a $640M Series D led by BlackRock at a $2.8B valuation, up from $1B after raising $300M in 2021, and adds an Intel executive as COO — Cisco and Samsung invested in the $640 million deal — Artificial intelligence startup Groq Inc. has raised $640 million in new funding …
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X: @alexrkonrad, @chamath, @groqinc, @morqon, @ozenhati, @lifebypixels, @ozenhati, @nihalmehta, @richardjnieva, @sundeep, and @basedbeffjezos. Forums: Hacker News
| Evan Gorelick / Bloomberg: |
Analysis: the vast majority of damages from July's CrowdStrike global IT outage will go uninsured; CrowdStrike reported nearly 24K enterprise customers in Q1 — - Insured losses estimated between $300 million and $1.5 billion — The days-long outage took a $5.4 billion toll on Fortune 500
More: Cybersecurity Dive
| Bloomberg: |
More: The Verge, CNN, Wall Street Journal, Windows Central, NBC News, Quartz, Ars Technica, Reuters, PCMag, New York Times, ITPro, Constellation Research, and TechRadar
Bluesky: @marypcbuk.bsky.social. X: @david_slotnick, @kpottermn, @moetkacik, and @david_slotnick. Forums: r/technews
| Michael Moritz / Financial Times: |
Silicon Valley's Trump supporters are making the same mistake as all powerful people who back authoritarians: they can't control him, and he won't keep promises — The financiers who support him have made the same error as all powerful people who back authoritarians — The writer is senior adviser, Sequoia Heritage
More: New York Times, CNBC, and Werd I/O
X: @mikeisaac, @sogrady, @teddyschleifer, @mhbergen, @mhbergen, and @wolfejosh
| Berber Jin / Wall Street Journal: |
Investor letter: Josh Kushner says Thrive Capital raised a $1B early-stage fund and a $4B late-stage fund, its largest-ever pair, after backing OpenAI in 2023 — The fundraising reflects optimism over artificial intelligence despite the startup sector's broader struggles
More: PYMNTS.com, The Information, and Thrive Capital
X: @patrickc, @joshuakushner, @akothari, @joshm, @eglyman, and @patrick_oshag
| Ingrid Lunden / TechCrunch: |
Source: Placer.ai, which provides AI-powered market research based on location data, raised $75M at a $1.45B valuation, up from $1B at its Series C — Location data, for better or worse, continues to be a part of the bedrock of how apps are built. Now a startup developing AI market research based … | Mihai Matei / SamMobile: |
Sources: Samsung plans to bring some Galaxy AI features to select mid-range smartphones as well, including the Galaxy A35 and Galaxy A55 which launched in 2024 — We have some exciting information to share, especially for Galaxy A phone users hoping to get their hands on some Galaxy AI action.| Washington Post: |
An analysis of AI chats in English: 21% of people use chatbots for creative writing, 18% for homework help, 17% for search, 15% for work, and 7% for coding — AI chatbots are taking the world by storm. We analyzed thousands of conversations to see what people are really asking them and what topics are most discussed.
| Rachael Levy / Reuters: |
Elon Musk says Neuralink has implanted its device in a second trial patient, who had a spinal cord injury, and 400 of the implant's 1,024 electrodes are working — Neuralink has successfully implanted in a second patient its device designed to give paralyzed patients the ability …
More: Lex Fridman on YouTube, Silicon Valley Business …, iPhone in Canada Blog, Quartz, Lex Fridman, CCN.com, Engadget, PC Gamer, Bloomberg, Proactive, Mashable, TweakTown, PCMag, Notebookcheck, Interesting Engineering, The Register, The Independent, Business Today, Wall Street Journal, Cointelegraph, Blue's News, and Business Insider
X: @lexfridman, @lexfridman, and @lexfridman
Forums: r/singularity and Slashdot
| Bloomberg: |
An interview with Mark Zuckerberg on laughing at the memes about him, rebranding Facebook as Meta, learning from the mobile era, Llama, his hobbies, and more — Now in his 40s, Meta's CEO says he's more comfortable in the spotlight but just as focused on breaking his company's reliance on Apple.
More: KnowTechie
| Daniel Wiessner / Reuters: |
Illinois governor signs a bill amending Biometric Information Privacy Act to significantly curb the penalties for improperly collecting and using biometric data — Illinois Governor J.B. Pritzker has signed a bill into law that will significantly curb the penalties companies could face …
More: Biometric Update
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