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- Arm gears up for the year’s biggest IPO
In Today’s Edition
Social Platform Friend.tech Gains 100K Users in Days Even in Depths of a Bear Market’
Pioneering wind-powered cargo ship sets sail
SpaceX’s new Bandwagon program is a big threat to small launch providers
China keeps buying hobbled Nvidia cards to train its AI models
Don't Fire Your Illustrator
How Modernity Made Us Allergic
🚀Startups Nuts
Friend.tech, a social platform for buying "shares" of X (formerly Twitter) accounts and getting privileges, has grown rapidly since its launch on August 10. It has over 100,000 addresses, generated $25 million in fees, and gained 80,000 users (15,000 since Sunday). Shares of non-crypto personalities, like FaZe Banks and Grayson Allen, are expensive. While concerns exist about blockchain transactions, developers say it's not an immediate worry. However, Friend.tech can post on X on users' behalf, creating a possible attack vector. The platform earned over $1.04 million in fees in the last 24 hours alone.
The Pyxis Ocean, chartered by shipping firm Cargill, has set out on its maiden voyage. The ship has wind-powered sails that are designed to cut fuel consumption. It will travel from China to Brazil to test the technology and provide an opportunity to assess whether traditional methods of propelling ships could be the way forward for moving cargo at sea. The sails could help save 20 tonnes of CO2 per day per ship.
🏭Business Nuts
The UK-headquartered chipmaker filed paperwork yesterday in anticipation of making its US market debut in September. There’ll be high stakes for SoftBank, which bought the company for $32 billion in 2016, as it tries to recover from recent losses by pivoting to an AI-based strategy with companies like Arm at the center. Bloomberg reports that Arm had been looking to raise between $8 billion and $10 billion but may now seek less as SoftBank plans to hold on to more of the company. The IPO is still expected to be the year’s biggest and help other tech companies, including Instacart, decide whether to move forward with their own IPOs.
With $2.68B in revenue, Arm would IPO at around a 24 P/S (price-to-sales), comparable to its peers
Read here - Link
SpaceX is expanding its Rideshare program to meet the demand for launches to mid-inclination orbits. The new program was quietly announced at a space industry conference earlier this month. Mid-inclination orbits are appealing to a growing number of customers. SpaceX currently has four mid-inclination orbit missions booked between 2024 and 2025. The new Rideshare program could be a major threat to small launch providers.
📱Tech Nuts
China's leading tech companies have placed orders for $5 billion worth of chips from Nvidia, despite the fact that the chips have been deliberately hobbled to limit their capabilities for the Chinese market. Worries that the US might tighten its export controls further have prompted more orders. Training requirements for the most advanced AI systems doubles every six to 12 months, so the gap between chips sold in China and those available elsewhere will grow quickly.
This two-part essay discusses how Stable Diffusion works and predicts how this technology will be used and by whom. Stable Diffusion was basically trained to make noisy images clearer. The demand for real physical art is likely not going to vanish. Physical media will continue to be used in training generative AIs. Generative AI will replace a slice of illustration and writing, in particular, the kind where the content doesn't matter.
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🎁Miscellaneous
Allergies have grown worse over the last few decades. The number of allergy sufferers is likely to continue growing. There are multiple theories about the causes. The environment and the makeup of our nose, gut, and skin microbiomes have a large role in influencing the rise of allergies. This article looks at how modern living is likely at the root of the recent rise in allergies.
💡What else are we reading and seeing?
How dating app algorithms decide who you date
Elon Musk’s Shadow Rule
What TikTok’s e-commerce launch could mean for marketers and content creators
Domino’s Pizza will close all 142 stores in Russia
How Nvidia Built a Competitive Moat Around A.I. Chips
Creator Economy 2.0: What we’ve learned, why it’s hard, and what’s next
Microsoft’s Satya Nadella is winning Big Tech’s AI war. Here’s how
Is the New Deal for business leading by design?
Diving Into Program Verification with zkProofs
Being Onbrand, Onchain
Why Crypto Could 10x in the Coming Years
The fandomization of news
Why Worrying is a Complete Waste of Your Time
😎Fun Fact
Cows have best friends and can become stressed when they're separated
🐦Tweet of the Day
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