Top stories today:

1. Elon to be investigated by Brazilian Supreme Court after defiance
2. TSMC gets $6.6B in grants, $5B in loans from U.S. under Chips Act
3. GPT-4, Gemini used transcriptions of YouTube videos for training
4. Total solar eclipse to happen today at 2 PM+ in Austin, Dallas, Buffalo

0. Data and calendar

1. Elon to be investigated by Brazilian Supreme Court after defying order

• X originally followed the monocratic (1 judge) Brazilian Supreme Court ruling by Alexandre de Moraes to ban certain opposition-linked X accounts.

• Then he X’d that Moraes’s order violated the Brazilian Constitution:

• Moraes now opened an investigation on Elon and threatened a $20K/day fine for noncompliance.

Elon told his followers to download a VPN, suggesting that X might refuse to comply and potentially get banned in Brazil

2. TSMC gets $6.6B in grants, $5B in loans from U.S. under Chips Act

How the $39B in grants have been allocated so far:

• TSMC adding 3rd factory in Phoenix, in addition to 2 AZ facilities expected to begin production in 2025 and 2028.

• $65B in total investments at the 3 fabs.

4. GPT-4, Gemini used transcriptions of YouTube videos for training, according to sources, potentially violating ToS

• GPT allegedly used 1M+ hours of YouTube videos transcribed by Whisper.

• OpenAI believes training AI with videos was fair use, even though they were “wading into a legal gray area.”

• Meta, relatedly, discussed buying publishing house Simon & Schuster to have access to more training data.

Google changed its privacy policy on July 1 to expand its ability to leverage user data for AI training

Our view: this highlights how we need much better algorithms to get closer to AGI

• Close to 100% of the world’s produced data is already being used by current LLMs.

• Current models cannot think like humans do. We observe the world, hypothesize theories, test and improve them. Existing LLMs cannot do any of these.

5. Total solar eclipse to happen today at 2 PM+ in Austin, Dallas, Buffalo, but clouds will likely cover sight

• 2044: next opportunity to see a total solar eclipse.

6. Spotify launches AI Playlists in beta, allowing playlist generation from text prompts

• Available in the UK and Australia, on iOS and Android, for now.

7. Markets price in 1 or 2 rate cuts in 2024, from 5 in Jan. and vs. 2 for Fed

8. Interesting videos, posts, and memes

9. Other headlines

AI

• Jony Ive + Altman AI device startup in talks to raise $1B.

• ChatGPT Enterprise has 600K users, from 150K in Jan.

• Canada launches $1.8B package for AI.

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Tech

• New iPads likely to launch in May 6 week.

• Instagram was 27% of Meta’s revenue in 2021, higher than YouTube’s.

• Y Combinator invites alumni to invest in new $2B funds.

• Israeli cybersecurity exit deals +65% in 2023 to $7.1B.

• Web Summit’s Paddy Cosgrave returns as CEO after resignation.

• Snapchat turns off controversial “Solar System” feature by default.

• Marissa Meyer interview on her new photo app Shine.

• Sidebar: how to join the 21st century’s millionaires club.*

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Tech & law

• Bipartisan privacy bill released by House, Senate commerce chairs.

• Maryland passes 2 major tech privacy bills.

• Chinese Google employee charged with stealing AI trade secrets.

• Apple Watch import ban challenged by Apple to U.S. appeals court.

Biotech

• Naked mole rats resistant to cardiac ischemias.

Business

• Yellen’s trip to China includes criticism of export-led growth.

Crypto

• FTX sells 25M-30M locked-up SOL tokens for $64 each, steep discount.

• Do Kwon, Terraform Labs found liable for fraud in SEC civil trial.

• Solana devs rally to combat congestion, led by memecoin rally.

• Uniswap tops $2T in all-time trading volume.

U.S. politics

• Ukraine aid package from House GOP may be unveiled this week.

• Biden raises $90M in Mar., ending with $192M, vs. $66M/$93M for Tump.

• Trump plans to press Ukraine to give some land for peace: sources.

• Trump: “great honor” to go to jail for violating gag order.

World

• Israel pulls some troops out of Khan Younis, preparing for Rafah.

• Hamas continues to arrest Palestinian Authority officials in Gaza.

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