July 19, 2024 | Read Online

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0. Data and calendar

All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).

All times are ET.

1. OpenAI's GPT-4o mini released: strongest small model with very low pricing

GPT-4o mini's MMLU of 82% is the highest among small language models, and its pricing is close to being the cheapest:

X: Artificial Analysis.

"Supports text and vision in the API, with support for text, image, video and audio inputs and outputs coming in the future."
128K context window.
Oct. 2023: knowledge cutoff.
$0.60 per 1M output tokens.
OpenAI has talked to Broadcom about developing new AI chip.

Mistral released its open 12B model NeMo today, performing in line with Google's Gemma 2 9B and Meta's Llama 3 8B

Mistral.

Open models remain 6-12 months behind OpenAI.

2. CrowdStrike deploying fix for Microsoft outage that hit banks, airlines, stock exchanges globally

Status.Cloud.Microsoft.

American, United, and Delta had grounded all flights.
London Stock Exchange, McDonalds, and many other companies reported issues.
CrowdStrike CEO said "a fix has been deployed.""This is not a security incident or cyberattack."
Stock -2% in the pre-market.

3. Athyna, how Bay Area Times hires global talent, has new $1K discount

Athyna.

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*Disclaimer: Athyna is a partner of the Bay Area Times.

4. Netflix's revenue +17% YoY to $9.6B in Q2, subscribers +8M QoQ to 278M

Netflix.

Netflix has been performing much better than peers like Disney+, which generally have experienced lower growth and no profitability.

The 8M subscriber growth figure was in line with prior quarters but higher than the 5M expected

Bloomberg.

5. Harris odds jumps to 22%, from 18%, after Obama, other Dems pressure Biden

Polymarket.

Obama told allies that Biden should reconsider viability of campaign.
Biden allies say he appears to accept he may have to leave race.
This weekend: estimate of "several top Democrats" of when Biden drops.
Trump speech at RNC calls for unity, "largest deportation operation."
Trump fundraiser at Bitcoin conference asks for $844.6K per seat.
Nate Silver criticizes 538's model forecasting Biden at 52%.

6. Interesting videos, posts, and memes

EP70: AI Poker, GPT-4o Mini, Mistral NeMo, Codestral Mamba, MathΣtral & LMSYS Wars

7. Other headlines

AI

Coalition for Secure AI (CoSAI) formed by Google, OpenAI, Microsoft, others.

Athyna: hire incredible global talent with the same company that Bay Area Times uses!*

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Tech

Meta's Reality Labs hardware teams to cut 20% of spending by 2026.
Meta weighs buying stake in Ray-Ban maker.
Amazon Prime Day(s) sales +1YoY to record $14.2B.
Saronic, defense tech startup, raises $175M at $1B.
Instagram adds expiring, semiprivate comments.

Open Source CEO: learn how to be a leader and outperform the competition, with this free newsletter.*
Sidebar is a personal board of advisors for the next generation of leaders.
Mercury saves you and your finance team time and headaches.*

*Sponsored. Clicking on ad links may share your email with Mercury for remarketing purposes.

Biotech

Aortic calcification: deep dive in search of points of intervention.

Business

Texas's $202B pension fund reduces PE allocation from 14% to 12%.
Chess.com says 1% of victories are result of cheating.

Crypto

Winklevoss twins donate $1M in BTC to Sen. Warren's rival.
Wintermute in talks to sell $100M in shares.
Ryan Selkis, Messari CEO, asked to cool down after strong tweets.

tea Protocol: click to subscribe to tea's newsletter and learn more about how to get rewards for your open-source contributions.*

*Sponsored.

U.S. politics

Another $1.2B in student debt canceled by Biden admin.
Hunter Biden seeks dismissal of tax, gun cases on Constitutional grounds.

World

Tel Aviv: 1 dead, 10+ injured after Houthi drone strike.
Israel weighs giving control of Rafah border to Palestinians, EU.
U.S. agencies warning Russia may supply Houthis with antiship missiles.
Russia seeks 18-year prison term for U.S. reporter Gershkovich.
French Macron-aligned parliament speaker re-elected in surprise move.
Brazil's Sabesp privatized via $2.7B stock sale.

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