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Top stories today: - Neuralink gets FDA's breakthrough device tag for "Blindsight"
- California passes 3 laws to restrict election-related deepfakes
- Fed expected to cut rates by 25 or 50 bps today at 2 PM ET
- o1-preview can be 30x+ more expensive than GPT-4o
- Instagram brings "Teen Accounts" to address children's safety
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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). |
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 | All times are ET. |
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1. Neuralink gets FDA's breakthrough device tag for "Blindsight" aimed at visually impaired |
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Blindsight "will enable even those who have lost both eyes," Elon said. Users could see "infrared, ultraviolet or even radar wavelengths" eventually. The Breakthrough tag accelerates FDA feedback and response time. TBD: when clinical trials will start for Blindsight. Previously, Neuralink developed a brain chip and implant for paralyzed patients.
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3. California passes 3 laws to restrict election-related deepfakes |
Several states have passed or are close to election deepfake laws: |
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4. Fed expected to cut rates by 25 or 50 bps today at 2 PM ET |
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65% odds of a 50 bps cut, 35% of a 25 bps one: what's priced in by investors. 2:30 PM ET: Fed Chair Powell speaks at the FOMC conference, after the meeting ends.
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The FOMC will also update its dot plot, giving market participants an updated insight into how they see rates moving forward |
June's dot plot: |
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6. o1-preview can be 30x+ more expensive than GPT-4o despite ~6x higher per-token price |
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6x output tokens on o1-preview than those of GPT-4o. 50% of o1-preview's output tokens were "reasoning," priced at $60/1M price. o1-mini, with a similar per-token price, generates ~2.6x more output tokens.
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o1-preview and o1-mini scored significantly higher in quality vs. GPT-4o, Claude 3.5, and others |
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7. Instagram brings "Teen Accounts" to address children's safety amid regulatory pressure |
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~50% of U.S. teenagers between 13–17 use Instagram at least once a day |
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Instagram is the 4th most popular social network among youngsters in the U.S. Jul.: the Senate passed Kids Online Safety Act to push children's safety. Instagram arch-rival TikTok made teen accounts private by default in 2021.
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8. TikTok becoming popular news source for Americans, despite looming ban threats |
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The number of TikTok users consuming news has 2.4x'd since 2020 |
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TikTok has sued the U.S. government to prevent its ban. Est. 30% chance of TikTok winning the lawsuit now, from 70% previously, according to a Bloomberg analyst.
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9. Snapchat gets redesigned, new Spectacles debut to push AR adoption |
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Snap's 5th-gen Spectacles cost developers $1,188 for an annual lease, despite a small consumer use base |
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10. Xiaomi surpasses Apple to become world's #2 smartphone brand in August |
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Xiaomi regained the 2nd position in terms of sell-through volumes after 2021. Apple's seasonal declined helped Xiaomi to overtake. 22% growth in Xiaomi's sales volume in H1 2024. Samsung continued to lead the market.
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11. Pet care startup funding on track to slowest year since 2019 |
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$500M raised by 50 pet- and vet-care startups globally this year. 2023: 100 pet startups raised $1.2B in total. Loyal and Sploot Veterinary Care ($40M each) among startups that raised funding in 2024.
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12. Citadel, Millenium lead in spawning most startup hedge funds, taking Tiger's old role |
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13. Interesting videos, posts, and memes |
 | Dave Portnoy | The All-In Interview |
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 | Signs Your Company Is Recovering From A Bad Case Of ZIRP |
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 | Jim Fan on Nvidia's Embodied AI Lab and Jensen Huang's Prediction that All Robots will be Autonomous |
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14. Other headlines |
AI |
BlackRock, Microsoft plan $30B+ AI fund for data centers, energy projects. Google to start flagging AI-generated images using C2PA metadata.
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Tech |
Workday acquires AI-powered contract management startup Evisort. Pentagon to award $269M to 33 chip research projects across the U.S. 23andMe's all independent directors resign, CEO "disappointed." Apple's A16 SoC is currently being produced at TSMC's Fab 21 in Arizona. Microsoft, G42 to establish 2 AI centers in Abu Dhabi. Apple pulls iPadOS 18 update for the M4 iPad Pro after bricking complaints.
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Tech & law |
Elon says SpaceX will sue FAA for "regulatory overreach." Google wins legal fight over €1.5B EU antitrust fine. FDIC proposes rules for banks to keep record of fintech customers. EU's decision to fine Meta for Marketplace-FB linking to come in Oct.: sources.
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Biotech |
Novo says diabetes shot Ozempic "very likely" target for next U.S. price cut. Philip Morris to sell Vectura for $198M after health shift criticism. Express Scripts sues FTC over drug pricing report.
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Business |
Steve Cohen stops trading for Point72, will focus on growth, mentoring. Intuitive Machines bags $4.8B navigation services contract from NASA. Boeing, striking union set to resume contract talks on Wed. Tupperware files for bankruptcy, listing liabilities of up to $10B.
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Crypto |
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U.S. politics |
Trump says he is getting more Secret Service protection. Trump pledges to restore SALT, tax break on state taxes he curbed. Harris calls for end to Israel-Gaza war, no Israeli reoccupation. Senate IVF bill fails after Republicans block it, despite Trump support. Judges warned of election-year risks of foreign hacking. Indian PM Modi to meet Trump in U.S. next week.
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World |
Hezbollah faces 3K+ injuries after mass pager explosion, blaming Israel. Israel planted pager explosives: sources. UN likely to demand Israel end presence in Palestine within 12 months. Senate Republicans condemn UN's bid to undermine Israel. Chinese carrier enters Japan's contiguous waters for 1st time: report. EV tariffs will damage Germany, China, says Chinese commerce minister.
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Reviewed by Diogenes
on
September 18, 2024
Rating:
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