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Inside Tesla's decision to build a 25000 dollar global car

Plus: Report on Frontier Model Training

Author

Cash Nut
September 11, 2023

In Today’s Edition

  • Ripple buys crypto infrastructure startup in its second acquisition of 2023

  • Perfios secures $229 million for its real-time credit underwriting solutions

  • Flexport founder rescinds dozens of job offers to get ‘house in order’ days after CEO pushed out

  • What to expect from Apple's 'Wonderlust event' this week: iPhone 15, Apple Watch Ultra 2, AirPods

  • Report on Frontier Model Training

  • At least 5 people have been cured of HIV. Is the AIDS pandemic ending?

Together With Constant Contact

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From AI automations to content generation, Constant Contact offers a range of advanced features to help you create highly targeted, effective campaigns without the hassle of writer's block. Say goodbye to the frustration of content creation and hello to more time doing what you love with who you love. 🙌

🚀Startups Nuts

Cryptocurrency company Ripple announced on Friday it will acquire Fortress Trust, a startup specializing in crypto infrastructure, for an undisclosed sum. The deal will give Ripple a license in Nevada and allow it to expand beyond its core bread and butter of blockchain-enabled payments. In May, Ripple agreed to buy Metaco, a Swiss provider of crypto custody services, for $250 million.

India-based fintech Perfios has raised $229m in Series D funding, led by private equity firm Kedaara Capital, to expand into Europe and North America. The company has raised a total of $384m to date and offers AI and ML-powered real-time credit underwriting solutions to financial institutions. Perfios, which aims to go public in the next 18-24 months, has a strong presence in Southeast Asia and the Middle East and is the leading player in the Indian market. The funding will help the firm's partners with their digital transformation and financial inclusion efforts.

🏭Business Nuts

Elon Musk apparently vetoed plans for Tesla to build a $25,000 electric car in favor of developing robotaxis. He finally relented when aides revealed a plan to build both a robotaxi and an inexpensive small car side by side. A $25,000 electric car would be a game changer for the auto industry. Tesla's Master Plan always called for using money made from early models to bring down the cost of future vehicles.

Flexport founder Ryan Petersen has rescinded dozens of employment offers two days after Dave Clark's departure as CEO. Petersen says that the company is also looking to lease out office space. The moves are intended to get company costs under control. It appears that Flexport is now shifting from a growth at any cost strategy to curbing spending and becoming profitable.

📱Tech Nuts

Apple will likely unveil this year's newest iPhones, Apple Watches, and AirPods at its fall event on Tuesday. This page contains a list of the products expected to be announced at the event along with industry reports, analyses, and the latest rumors. It also discusses what likely won't be unveiled at the event but may appear in the near feature.

This document is a collection of resources on the different aspects of frontier model training created to help people learn about the field and use the information to help inform their own models.

🔥Newsletter Spotlight

Want free men's and women's college sports coverage in your inbox 3x per week? Subscribe to The GIST's college sports newsletter. Get regional coverage of the Power 5 conferences (a Big 10-specific newsletter, anyone?) including game results, rivalry updates, athlete interviews, and more — all in a fun, bite-sized, women-written newsletter. Win, win, win!

🎁Miscellaneous

The life expectancy of someone in the US infected with HIV is currently about the same as the rest of the population. This is largely due to antiretroviral therapy, a daily treatment regimen that decreases the level of HIV in a person's blood to the point it's no longer detectable or transmittable. There have been a handful of people over the last couple of decades that have been able to reach undetectable HIV levels while off treatment, essentially meaning they've been cured of the disease. New universal cures are now on the horizon.

💡What else are we reading and seeing?

😎Fun Fact

The total weight of all the ants on Earth is estimated to be roughly equal to the total weight of all the humans on Earth

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