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In Today’s Edition
India Will Continue To Be On The Map For LPs Globally
Early Stage Funding Is All About Investing In The Founding Team
Tesla in discussion to license Full Self-Driving software to another automaker
Apple has been working on its own ChatGPT AI tool for some time
Study claims ChatGPT is losing capability, but some experts aren’t convinced
Why Did Meta Open-Source Llama 2?
Back from the Dead: New Hope for Resurrecting Extinct Plants
🚀Startups Nuts
Funding winter notwithstanding, India will continue to be on the map for LPs globally: Ruchira Shukla. Addressing family offices, Shukla said the corporates can think of participation in the asset class to further the work they are doing in their respective industries. Shukla added that 20% of the global growth is expected to come from India and a great way to participate in that is through the startup ecosystem.
We are investing in startups at a stage when there is nothing but founders, said Padmaja Ruparel, cofounder of Indian Angel Network. Venture Catalysts cofounder Apoorva Ranjan Sharma if a firm or investor helps build brands, getting good startups wouldn't be an issue for them. Speaking at Inc42's MoneyX, multiple speakers highlighted the need to increase the participation of domestic capital in the Indian startup ecosystem.
🏭Business Nuts
Tesla is in early discussions to license its Full Self-Driving (FSD) technology to another major automaker that has not been named. Elon Musk says that licensing the software has always been part of the plan. Tesla's FSD works on local roads with traffic signals, intersections, and vulnerable road users. It requires drivers to pay attention to the road and take control of the vehicle when asked. There are currently 16 crashes by Tesla vehicles using Autopilot being investigated by the National Highway Traffic Safety Administration, out of which only one caused a fatality.
Apple is readying its own large language model, Ajax. It is recruiting more engineers to work on generative AI. Ajax is solely for internal use at Apple. Apple staff are using it for real work like prototyping products and summarizing text. The company does not currently intend to launch the chatbot, but it is trying to find a consumer angle for it. Apple has already deeply embedded AI and machine learning technology into everything it's doing.
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📱Tech Nuts
A paper published by researchers from Stanford University and the University of California shows that GPT-4's outputs have declined in quality over the past few months. While some experts aren't convinced by the paper, the lack of certainty around whether GPT-4's quality has declined points to a larger issue with how OpenAI handles its model releases. Popular theories about GPT-4's decline in performance include OpenAI reducing computational overhead, unintended effects from fine-tuning, and OpenAI reducing its abilities so more people will pay GitHub Copilot. OpenAI has consistently declined any claims that its models have decreased in capability.
This article presents an in-depth analysis on why Meta made Llama 2's weights commercially available. Llama 2's license provides hints to Meta's goals - it prevents Llama Materials from being used to improve other models, competitors with more than 700 million monthly active users must request a license from Meta, and there are no trademark licenses. This suggests Llama 2 was open-sourced to reduce competitor moats, to attract more users and developers, and as a marketing tool.
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🎁Miscellaneous
Botanists have been storing plant specimens from extinct species for centuries. They are now starting to realize their potential to resurrect life forms long believed lost forever. Libraries of data from herbarium specimens of extinct plants are now available in browsable digital databases. Attempts to revive extinct animals will only result in hybrid genetically-engineered animals, but successful recovery of a plant will result in the resurrection of the actual species.
💡What else are we reading and seeing?
Stock-To-Flow Reality - You May Think The Stock-To-Flow Model Fell Short, But It's Still Right, And Here's Why
Why Korea Loves Crypto But Not DeFi
Goldman Sachs isn’t transforming fast enough
Barbenheimer opening weekend could top $200 million
Microsoft, Activision extend deal deadline to October
TikTok expanding to music streaming
The economy is officially doing better than we thought
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😎Fun Fact
Bananas are technically berries, while strawberries are not
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