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ByteDance 'would rather' torpedo TikTok
Plus: Meta loses $200 billion in value
Cash Nut
April 27, 2024
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In Today’s Edition
Sam Altman Invests in Energy Startup Focused on AI Data Centers
Oracle's Jump to Nashville Surprises Austin
Meta loses $200 billion in value as Zuckerberg focuses earnings call on all the ways company bleeds cash
Corporate Open Source is Dead
A morning with the Rabbit R1: a fun, funky, unfinished AI gadget
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🚀Startups Nuts
Sam Altman and other investors, including venture capital firm Andreessen Horowitz, have put $20 million into Exowatt, a company that aims to provide big data centers with clean energy. The AI industry uses a lot of energy - a single new data center can use as much electricity as hundreds and thousands of homes. Exowatt has developed modules roughly the size of shipping containers that hold solar lenses that convert energy from the sun into heat. The company hopes to eventually offer electricity as cheap as 1 cent per kilowatt-hour without subsidies.
Other News
xAI is nearing a deal with Sequoia Capital and other investors to raise $6 billion in a funding round that would value the company at $18 billion
Nvidia Corp. is set to acquire AI hardware infrastructure management and optimization software startup Run:ai
Xaira Therapeutics secured $1B in fresh funding. The San Francisco-based startup is leveraging machine learning, data generation, and therapeutic product development to build a drug discovery platform
Stripe will start accepting payments in USDC, initially only on Solana, Ethereum, and Polygon
🏭Business Nuts
ByteDance would rather shut down TikTok than sell the company. The US only provides a quarter of TikTok's global revenue and only represents 5% of ByteDance's daily active users across all of its media platforms. The short deadline to sell would likely put downward pressure on any potential sale price, making the option even less appealing. Selling the company would mean divesting the algorithms that power TikTok and its video recommendations, which raises more complications.
Oracle has moved to Nashville, Tennessee, to offer its employees a better lifestyle. Nashville pledged $175 million in incentives and the state of Tennessee $65 million to help build the Oracle campus in 2021. There were no additional incentives from the city ahead of Oracle's headquarters announcement. Oracle plans to get closer to the healthcare industry - the Nashville area's healthcare industry employs more than 300,000 people and adds $68 billion to the Nashville region's economy.
Mark Zuckerberg spent almost the entirety of his opening remarks during Meta's earnings call focused on the many ways the company loses money. This resulted in the company's shares dropping by as much as 19% in extended trading on Wednesday, despite Meta reporting better-than-expected profit and revenue for the first quarter. This article discusses the earning call in detail. Topics mentioned on the call include Meta's plans for turning its AI investment into ad dollars, Llama 3, potential opportunities for expansion within the mixed reality headset market, and Meta's AR glasses.
📱Tech Nuts
Intelligent androids will be a part of industrial activities and aspects of everyday life over the next decade. Modern AI models have changed the game, allowing robots to learn from online text, images, and videos. This article takes a look at the modern robotics industry, highlighting new technologies, current capabilities, potential applications, major players in the space, and the impacts the technology will have on society.
Startups and megacorps have used and abused open source to build up billions in revenue over the past decade. Corporate Open Source has died - open source cultures rely on trust, and time and time companies have shattered that trust with the developers who helped build them. Contributor License Agreements are a strategy employed by commercial companies to subvert the open source social contract. Developers should stay away from projects that require them and stick to open source licenses that respect their freedom.
The Rabbit R1 is a $199 AI-powered device that can answer questions, translate speech, play music, take notes, summon an Uber, and a few other things. This article presents an early review of the device. While the roadmap for the device is ambitious, its current feature set is much more straightforward. So far, the device seems to be trying to be a useful companion rather than a smartphone killer.
Other News
TSMC's A16 process technology could deliver the first 1.6nm chips for customers by 2026
Meta's Horizon OS will enable a variety of high-end headsets with full app compatibility
LLMs as they are today can't solve problems that require long series of reasoning steps, especially if they're dependent on previous states or predicting future ones
Paper Plane
Let's bring more fun, trust, and openness back into your dating + love life, and make those hard conversations easier.
💡What else are we reading and seeing?
$39B mining mega-merger is all about the energy transition
Alphabet issues first-ever dividend, $70B stock buyback
McKinsey is under criminal investigation for its opioid work
Minimalism and the benefits of choosing a simple life
6 signs that you’re stuck in a negative narrative
The immediate benefits of mindful meditation
🐦Joke of the Day
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