Category: Reddit Post

Apple’s $100B Gamble, Musk’s Brazil Meltdown, and Oasis Chasing Old Glory: Just Another Day in the Wild West of Tech and Fame

🍎 Apple is about to throw $100 billion at OpenAI. Recently, the Apple crew teamed up with them to pump up Apple Intelligence – even though they have their own language model for basic stuff, it’s just not as good. Surprised? Well, Apple rarely invests in startups… if you can call a $100 billion company a “startup.” Oh, and NVidia is jumping on the bandwagon, too, planning to back one of its biggest clients! 🇧🇷 Musk’s platform X just got nearly wiped out in Brazil. Judge Moraes straight-up cut off 40 million users. Musk called him “a criminal of the worst kind posing as a judge” and also “Dictator Voldemort” for good measure. And why not? To top it off, the judge froze Starlink’s accounts – absolute madness. It all started when the court ordered the blocking of dozens of accounts on the platform, and at first, Musk was like “okay,” but then turned around and called it censorship. The blocked accounts belonged to supporters of former President Jair Bolsonaro, who were stirring up riots over the “stolen election.” This whole thing is nuts. I never thought something like this could happen in a civilized country! What a bunch of savages! Wait… hold on… 🏒 A sad story out of the NHL: a drunk driver hit and killed some guys on bikes. Turns out they were hockey stars with salaries close to $10 million a year. Moral of the story? No matter how high you climb, be careful. One minute you’re scoring goals to the crowd’s roar for crazy money, the next, you’re under the wheels. One moment you’re dining with the President of France, and the next, you’re locked up behind bars. 🖋 Yelp (yeah, the biggest restaurant review site) is suing Google. The beef? Google’s showing its own reviews in search results instead of Yelp’s. I mean, what else are they gonna show? Wait, you can actually do that? Alright then, let’s go ahead and sue Yandex while we’re at it. For everything. 🎙 Oasis is reuniting for… you guessed it, a reunion tour across the UK next summer. The Gallagher brothers blew through their massive paychecks, and now they need some cash. Just a little – like £400 million for 17 shows in five cities. Analysts are saying that’s more than they made during their entire wild run in the ’90s. Taylor Swift was pulling in $13.5 million per show on her last tour. And there are only 2 songs from that era that hit over 2 billion streams on Spotify: you know which Nirvana song, and Oasis’ “Wonderwall.” Can’t stand that whining. Worse than Mummy Troll, seriously. submitted by /u/XGramatik [link] [comments]

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90% of US cities saw a rise in year over year unemployment rates in July, according to the BLS. The labor market is weakening.

Unemployment rates increased in 350 out of 389 U.S. metro areas last month, according to the BLS. In 8 major metro areas with over a million residents, fewer people were employed in July 2024 compared to July 2019. Meanwhile, average weekly wages fell in 43% of these regions. Among the 8 highest-paying areas with average weekly wages above $1,400, 5 saw a year-over-year salary drop. https://preview.redd.it/rx8emu9r8cmd1.jpg?width=796&format=pjpg&auto=webp&s=0a6f9500718771ee5fec479ecf798602f044a0bc Looks like the “American Dream” just woke up to a nightmare. submitted by /u/FXgram_ [link] [comments]

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Singapore topped the ranking of countries in terms of cryptoasset adoption.

Henley & Partners has published a ranking of countries in terms of cryptoasset adoption. The top three include Singapore, Hong Kong and the UAE. They stand out for economic factors, developed infrastructure and relatively more lenient taxation. None of the CIS countries made it into the top 20. https://preview.redd.it/ia6mkwzgd9md1.png?width=731&format=png&auto=webp&s=675a0d3062004bee87e0f6fe1de845178b821291 submitted by /u/Lor1al [link] [comments]

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A clever use or cheating, or how tech giants are outsmarting regulators

In the high-stakes arena of artificial intelligence, big tech companies are rewriting the playbook on talent acquisition. Heavyweights like Google, Microsoft, and Amazon are cleverly boosting their AI capabilities without setting off antitrust alarms—by acquiring the brains and tech of AI startups without formally buying the companies. A recent example of this tactic came when Google struck a deal with Character.ai, bringing on its high-profile founder along with over 20% of the company’s staff, and securing a license for its technology. It looks like an acquisition, sounds like an acquisition, but technically, it isn’t one. Google isn’t the only player using this creative approach. Microsoft led the charge with a similar arrangement involving Inflection, and Amazon quickly followed suit with its pseudo-acquisition of Adept. These deals have become a new strategic weapon for tech giants, allowing them to bypass regulatory scrutiny while still scooping up the talent and cutting-edge tech that keeps them competitive in the fierce AI race. For AI startups, which often struggle to monetize their innovations, these deals offer a crucial opportunity—a chance to thrive under the umbrella of a tech giant. Meanwhile, these companies get to hand-pick the brightest minds and most innovative technologies without the legal headaches that accompany traditional acquisitions. However, this cunning strategy comes with its own set of risks. While tech companies might believe they’re sidestepping antitrust watchdogs, they could be treading dangerous ground. As these quasi-acquisitions become more common, they’re likely to draw closer scrutiny from regulators determined to keep the tech landscape fair and competitive. As the AI revolution accelerates, one thing is certain: the battle for talent and technology is intensifying, and tech’s biggest players are willing to do whatever it takes to stay ahead of the competition—and the regulators. submitted by /u/Aftermebuddy [link] [comments]

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Capital expenditures on large tech projects are enormous. Major tech companies are betting on the AI revolution (and then on the AI uprising—just kidding).

https://preview.redd.it/g3c41x2vd8md1.jpg?width=859&format=pjpg&auto=webp&s=80a27008dc5ec78d7364ead4e3fa71076ac2762e The capital expenditures of the Magnificent 7 reached approximately $44 billion in the second quarter of 2024, the highest on record. This is about 25% more than the $35 billion recorded in the previous quarter and 47% more than in the second quarter of 2023. A significant portion of these expenses was driven by investments in AI as the hype around AI intensified. A large part of this capital went to Nvidia, NVDA, and other major chip manufacturers. submitted by /u/FXgram_ [link] [comments]

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Chris Weston, Pepperstone: US Election dashboard – Polls, prediction markets and cross-asset election expressions.

Markets may start become more sensitive to changes in the polls post Labor Day, although this week election trades are fighting NFPs and Wallers outlook – so keeping tactical capital until at least after the 1st live debate, perhaps even end of Sept seems more likely. https://preview.redd.it/ugylvhail5md1.png?width=1710&format=png&auto=webp&s=c1335b38590ed3110aa9587bd47497f6920ccd7b submitted by /u/XGramatik [link] [comments]

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