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In Today’s Edition
NASA says SpaceX’s next Starship flight could test refueling tech
Spotify jumps after saying it will cut 17% of the workforce
Tesla is officially losing half $7,500 tax credit on two Model 3 trims
The first humanoid robot factory is about to open
‘Animate Anyone’ heralds the approach of full-motion deep fakes
Regretful Accelerationism
Worth the buzz: Amazon, Saas, and 12.1% Returns
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🚀Startups Nuts
X.AI has filed with the SEC to raise up to $1 billion in an equity offering. It has already raised nearly $135 million from four investors and has a binding and enforceable agreement for the purchase of the remaining shares. The startup released an AI chatbot with real-time knowledge of the internet called Grok last month. It aims to directly compete with companies like OpenAI, Google, and Anthropic.
SpaceX and NASA may be demonstrating orbital refueling technology on the next Starship test flight. NASA has yet to make a decision on when to start testing the capability. Cryogenic propellants must be kept at super-low temperatures or they turn into a gas and boil off. Rockets using these types of propellants typically need to complete their missions within hours - NASA wants to extend this lifetime to months and enable the transfer of the propellants from one vehicle to another.
🏭Business Nuts
Spotify is laying off 17% of its workforce to reduce costs and adjust for a slowdown in growth. News of the layoffs sent Spotify shares up more than 7%. Spotify says it took on too many employees over 2020 and 2021. The company reported a 65 million euro profit for the third quarter. The layoffs could supply a nearly 2% reduction in operating expenses in 2024.
Tesla has confirmed that it will lose half of the $7,500 tax credit on the Model 3 Rear-Wheel-Drive and Model 3 Long Range from next year. The eligibility criteria for the $7,500 federal tax credit have changed to include things like price and source of components. The battery material criteria are becoming more strict to include more batteries and materials built in North America. This will likely be helpful for Tesla in Q4 as they are trying to sell a record number of vehicles to deliver on its annual guidance.
📱Tech Nuts
Agility Robotics is building a manufacturing facility in Salem, Oregon, that will eventually pump out 10,000 bi-pedal robots a year. The RoboFab will open early next year. Agility Robotics' Digit is the first commercially available human-shaped robot designed for warehouse work. Deliveries of the robots will start in 2024.
Animate Anyone uses a generative video technique to create videos from pictures of people. While its results are far from perfect, the model is a huge leap over the previous state of the art, which produced way more artifacts or completely lost important details. The team behind the model hasn't released the code for it yet. Videos showing deepfakes made with Animate Anyone are available in the article.
🎁Miscellaneous
The Internet can not be portrayed as a district development from a world increasingly in turmoil. Removing the constraint of physical distribution may have accelerated the development of many technologies, but it also created many problems. An increasingly AI-generated world where all content is customized for every individual may help more people realize the only way to survive online is to pay it increasingly little heed.
💡What else are we reading and seeing?
12 lessons from 5 years of running a tech meetup
When Product Markets Become Collective Traps: The Case of Social Media
Colonizing Mars isn't a rocket problem
Things Every Hacker Once Knew
The weight-loss drug gold rush is getting larger
How regulators tamed crypto and helped drive a Bitcoin rally
Robots make good junior analysts
The power of starting clean with a full reset
The most productive habits to pick up in 2024
10 frugal habits that rarely pay off
😎Fun Fact
The world's smallest bank is a mobile bank in the UK that operates out of a converted ice cream truck.
🐦Joke of the Day
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