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Top stories today: - David Sacks named "White House AI & Crypto Czar"
- OpenAI releases ChatGPT Pro, $200/month tier, with access to o1 Pro
- xAI raised $6B, not $5B; round had 97 investors: SEC filing
- Google introduces PaliGemma 2 with ability to "identify" emotions
- U.S. jobs report expected to show hiring rebounded after storms, strike
- Investors pump $140B into U.S. stock funds since Trump's election win
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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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Listen to our AI-generated podcast summarizing today's newsletter (beware of the few hallucinations): |
| Bay Area Times Daily - Dec. 6, 2024 ► Play Online |
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1. Trump names David Sacks as "White House AI & Crypto Czar" |
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Sacks is a GP at Craft Ventures and is part of "PayPal mafia". He will work on a "legal framework" for crypto and guide policy on AI. Part-time likely, as Craft has a "key man" clause preventing him from taking a full-time position. Would also lead the Presidential Council of Advisors for Science and Tech.
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3. OpenAI releases ChatGPT Pro, $200/month tier, with access to o1 Pro |
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o1 Pro is a more powerful version over the o1 (Strawberry), initially released as a limited preview |
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Provides better performance over o1 on ML benchmarks across math, science, and coding. Improved reliability with the ability to answer right in four out of four attempts. Now: Plus and Teams availability. Next week: Enterprise and Edu availability.
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o1 is more adept at deceiving humans than GPT-4o, Gemini 1.5, Llama 3.1, Sonnet 3.5, and Opus 3 |
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19% of the time, o1 is seen manipulating data to pursue its own agenda against user goals. Can deny wrongdoing when questioned. Even "fabricate false explanations" 99% of the time.
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o1 was also found to be more manipulative than GPT-4o in the open-source test evaluation, MakeMePay |
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4. xAI raised $6B, not $5B; round had 97 investors: SEC filing |
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5. Google introduces PaliGemma 2 AI models with ability to "identify" emotions |
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7. U.S. jobs report expected to show hiring rebounded after storms, strike |
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220K nonfarm payrolls expected for Nov. after 12K increase in Oct. Devastating hurricanes and a major strike last month impacted businesses. Fri.: the Bureau of Labor Statistics is due to release its jobs report — the last before the next Fed meeting in Dec.
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8. Investors pump $140B into U.S. stock funds since Trump's election win |
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Nov. became the busiest inflows month since 2000. +5.3% in S&P 500 since the election day, bringing its gain for 2024 to 28%. Russell 2000 also hit a record high in 3 years last week.
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U.S. stocks have outperformed other regions, including Europe and China |
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9. UK house prices rising at fastest in 2 years |
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+4.8% YoY in the average house price in the UK in Nov, vs. +3.6% expected. +1.3% MoM from Oct. to a record £298,083 average price, vs. +0.2% expected.
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10. Interesting videos, posts, and memes |
 | Has AI Hit a Wall? A Debate from the Cerebral Valley AI Summit |
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 | Year-End Planning for Startup Success | Startup Finance Basics w/ Kruze's Scott Orn |
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 | YouTube ft. Steve Chen - 18 Months That Changed the Internet |
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11. Other headlines |
AI |
Copilot Vision, Microsoft's AI tool that can read your screen, out in preview. DeepMind's new AI framework teaches itself through conversation: Peter Diamandis. Android's latest update brings Gemini AI improvements.
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Tech |
Waymo's next robotaxi city will be Miami in 2026. Meta shifting 50% of MR headset production to Vietnam from China: sources. NASA delays Artemis moon landing to 2027.
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Tech earnings |
HPE Q4 revenue +15% YoY to $8.5B, operating profit +32% to $938M. DocuSign Q3 revenue +8% YoY to $755M, net profit +61% to $62M. GitLab Q3 revenue +31% YoY to $196M, announces new CEO. Asana Q3 revenue +10% YoY to $184M, net loss -7.28% to $62M.
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Tech & law |
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Biotech |
Oura rolls out Symptom Radar to detect respiratory illness from smart rings. Eli Lilly invests $3B to boost production of Mounjaro, Zepbound.
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Crypto |
Chainalysis permanently parts ways with its founding CEO Michael Gronager. Pudgy Penguins to launch Solana-based token PENGU this year. Hawk Tuah memecoin falls 90% amid backlash.
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Business |
Airbus needs to deliver 127 aircraft to achieve 770-jet annual goal. BofA sees another 8% gain. China proposes to give price advantage to local businesses. Singapore's Temasek forms $7.5B private debt platform.
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U.S. politics |
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World |
Macron will meet key politicians today in effort to rebuild French government. South Korean President Yoon loses key ally, increasing impeachment risk (80%). India downplays BRICS common currency plan that angered Trump.
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