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Mark Zuckerberg’s new goal is creating AGI
Plus: Reddit reportedly seeks to launch IPO in March
Cash Nut
January 19, 2024
In Today’s Edition
Tech's Blind Spots: The Startups Building for Underserved Markets
How many layoffs are really happening?
Reddit reportedly seeks to launch IPO in March
The next iOS update will make it harder to break into your iPhone
Sam Altman Says AI Using Too Much Energy, Will Require Breakthrough Energy Source
Figure's humanoid robots are about to enter the workforce at BMW
🚀Startups Nuts
A Silicon Valley-centric approach to building startups often leads to a Silicon Valley set of solutions. This article argues we’re overlooking a huge opportunity in building startups that help certain generations – like an aging population or an infant population coming into the internet age.
We’re still seeing layoffs across tech, but are they the same flavor as the 2023 vintages? This article argues no. Instead, they’re a symbol that the good times are over in tech - layoffs are simply a way to manage performance and trim the fat.
🏭Business Nuts
Mark Zuckerberg has announced plans to achieve artificial general intelligence (AGI). While he doesn't have a timeline for when AGI will be reached or an exact definition for it, he has moved Meta's AI research group FAIR to the same part of the company building generative AI products across its apps. The move aims to allow Meta's AI breakthroughs to more directly reach its users. Meta plans to own more than 340,000 Nvidia H100 GPUs by the end of the year.
Social media platform Reddit is planning to launch its initial public offering (IPO) in March, marking the first major social media company IPO since Pinterest in 2019. The move comes amid stiff competition for advertising dollars from platforms like TikTok and Facebook. Reddit, valued at about $10 billion in 2021, aims to sell about 10% of its shares in the IPO. The company, founded in 2005, is known for niche discussion groups and user voting on content. Despite generating revenue primarily through advertising and offering premium access, Reddit has yet to turn a profit, citing user engagement issues with ads. The IPO plans could face delays, and the company is expected to generate over $800 million in advertising revenue in 2023, up more than 20% from a year earlier, The Information reported last month.
📱Tech Nuts
Apple's newest security feature, Stolen Device Protection, makes it far harder for thieves to hijack Apple IDs and any financial information stored on the device. It will require users to use Face ID or Touch ID and certain changes may take up to an hour to take effect. The feature addresses a key vulnerability where thieves can lock victims out of their Apple IDs by resetting the password using their passcodes. Stolen Device Protection will be included in the iOS 17.3 release expected next week.
It's no secret that AI models require astronomical amounts of electricity to run. Experts estimate that the industry could soon use as much electricity as an entire country. OpenAI CEO Sam Altman is looking for cheaper energy alternatives. Future models will require even more power to the degree that they'll need a whole new power source. Altman has already invested around $375 million in a nuclear fusion company.
Techpresso gives you a daily rundown of what's happening in tech and what you shouldn't miss. Read by professionals from Google, Apple, OpenAI
🎁Miscellaneous
Figure is sending its general-purpose humanoid robots to start real-world work at BMW's manufacturing plant in South Carolina. The deal may be one of the first-ever commercial deals involving humanoid robots. While the two companies have yet to announce exactly what Figure's robots will be doing on the factory floor, training has already begun in the company's labs for the first tasks. The partnership is milestone-based, so Figure will have to prove its robots can do useful work before it scales its operations.
💡What else are we reading and seeing?
Reddit seeks to launch IPO in March
Davos survey says 25% of CEOs plan to replace human workers with AI this year
Where anti-obesity drugs are taking off the most
Private lenders are opting to go public after valuations jump
Bitcoin drops to lowest level since ETF approval
A huge private equity tech investor predicts who will win the AI wave
JPMorgan fights off 45 billion hacking attempts each day
7 habits that boost emotional intelligence
😎Fun Fact
The world's first paper money, created in China over 1,000 years ago, was originally used for tea trade
🔥 Hot Book of the Day
We may believe that we are the masters of our fates, but in reality, we are at the mercy of hundreds of trillions of single-celled organisms that exert control over every aspect of how our minds and bodies function.
These are the diverse species of microbes living in our guts, mouths, and skin that work together synergistically to communicate with each other and with every system in our bodies.
You are your microbiome’s home, and it wants to take care of you, but first you have to protect it. In Gut Check, Dr. Steven Gundry reveals the emerging science proving that Hippocrates was right – all disease begins in the gut.
When our microbiomes are out of balance, it affects our immune systems, our hormone levels, our mental health, our longevity, and our risk of developing autoimmunity, heart, and neurodegenerative disease, as well as arthritis, diabetes, and cancer.
Yet, not all hope is lost: disease can also be healed in the gut if we choose to treat our microbes right.
“The secret to good health.”
🐦Joke of the Day
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