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Top stories today:
- Elon sues Sam Altman, OpenAI for breach of contract, fiduciary duty
- Microsoft launches Copilot for Finance in preview
- Core PCE inflation +0.4% MoM / 2.8% YoY, much above Fedās goal of 2%
- Startup M&A transactions -11% YoY to 574 in 2023
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. Elon sues Sam Altman, OpenAI for breach of contract, fiduciary duty
Elon says Altman and OpenAI abandoned its āFounding Agreementā by keeping GPT-4 closed-source, with āno scientific publications describing the design of GPT-4.ā
āIts technology, including GPT-4, is closed-source primarily to serve the proprietary commercial interests of Microsoft. Indeed, as the November 2023 drama was unfolding, Microsoftās CEO boasted that it would not matter ā[i]f OpenAI disappeared tomorrow.ā He explained that ā[w]e have all the IP rights and all the capability.ā
2. Microsoft launches Copilot for Finance in preview
Automatic data reconciliation.
Variance analysis.
One-click charts and reports.
TBD: public launch date.
Our view: AI is still not ready for most business uses
Currently available features, like variance analysis, have very limited use cases:
Trends that have generated the highest ROI.
The top things to try out in 2024.
Social media websites with the biggest ROI: Facebook leads; click here to see the rest.
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4. Core PCE inflation +0.4% MoM / 2.8% YoY, much above Fedās goal of 2%
