Top stories today:

1. Sergey Brin: "we definitely messed up" on image generation
2. Reddit targets $6B - $6.5B valuation in IPO, vs. $10B in 2021
3. Apple may announce new iPads, Macbooks, accessories this week
4. OpenAI memo rebuffs Elon’s main lawsuit claims

0. Data and calendar

1. Google co-founder Sergey Brin: "we definitely messed up" on image generation

Brin spoke at the AGI House in San Francisco on Saturday:

• Said most AI models today say “far-left” things when stress-tested, that this issue isn’t something exclusive to Gemini.

• Suggested a Google text-to-video + audio may be coming, calling it “an exciting field.”

2. Reddit targets $6B - $6.5B valuation in IPO, vs. $10B in 2021

• Price-to-sales (P/S) of 7-8, vs. 29 in 2021.

• Price range of $31 - $34.

• Ticker RDDT.

4. Apple may announce new iPads, Macbooks, accessories this week

• Likely an online-only announcement this week, with Apple skipping a formal launch event.

• A March or April announcement was reported in parallel by Bloomberg, which expects new Macbook Airs (M3 chip), iPad Pro, iPad Air, Pencil, and Magic Keyboards.

5. OpenAI memo rebuffs Elon’s main lawsuit claims

OpenAI’s Chief Strategy Officer Jason Kwon wrote in a memo to employees:

• On GPT-4 representing AGI: “an AGI will be a highly autonomous system capable enough to devise novel solutions to longstanding challenges — GPT-4 can't do that.”

  • The lawsuit cites a Microsoft paper claiming GPT-4 has “sparks of AGI.”

• On OpenAI’s mission: “We've found that the strategy of creating frontier technology and making it broadly available by APIs and products best serves both parts of this mission, since we're able to attract the necessary capital, make the technology broadly usable, and also provide guardrails as required by society and conscience.”

• On being a subsidiary of Microsoft: “We decide what to research and build, how to run the company, who our products serve and how to live out our mission.”

Many legal experts think the lawsuit will be an uphill battle for Elon, since OpenAI never put in writing that it would open source all its models.

6. Super Micro joins S&P 500, as market cap breaks $50B

• Replaces Whirlpool in S&P 500.

• Shares surged 20x+ in 2 years.

• Deckers Outdoor is also joining the S&P 500, replacing Zions Bancorporation.

7. Interesting videos, posts, and memes

8. Other headlines

AI

• India: most AI models need “explicit permission” before launch.

• Art authentication latest use case of AI.

• AI worm: new generative AI can infect other AI, steal data.

• Groq: profile and CEO interview.

Tech

• Meta rebuffed Google proposal for VR, AR partnership in 2023.

• SpaceX-backed flying car firm Alef: 2.85K preorders for $300K car.

• Apple tells support staff not to discuss 3rd-party app stores outside EU.

• AARoads: new U.S. highway wiki to assuage Wikipedia editors’ frustrations.

• Spotify launches $9.99/mo standalone audiobooks service.

• Waymo can now charge for robotaxi riders in LA, SF freeways.

• citizenM has 14 tech-ready hotels stateside for the best night's sleep of your life.*

• Zoho's new CRM, Bigin, can be the game changer for your business success.*

• HubSpot: download the 2024 State of Marketing Report, for free.*

*Sponsored.

Tech & law

• Google offers compromise to restore delisted Indian apps.

  • Judge: Google must face some advertisers’ antitrust claims.

Biotech

• Viking: profile on new weight loss drug player.

• Physical fitness in early life correlated to less athero in later life.

Business

• Nikkei rises above 40K for 1st time.

• Turkish annual inflation reaches 67% in Feb.

• ESG becoming bad name, as BlackRock starts “transition investing.”

• Saudi, Russia, other OPEC+ members extend voluntary cuts until Jun.

Crypto

• Bitcoin crosses 65K, nearing 70K ATH.

• DOE scraps crypto energy survey, settles with miner Riot Platforms.

• Uniswap: making it easier to buy, sell and trade tokens on Ethereum.*

*Sponsored.

U.S. politics

• Haley beats Trump in D.C. by 63% to 33%.

  • Trump endorsement in doubt, if she loses.

• DeSantis vetoes social media ban for minors, seeks alternative measure.

• Congress unveils plan to fund parts of governments through Sep.

• SCOTUS's decision on barring Trump could come as soon as today.

World

• Ceasefire deal TBD as Gantz flies to U.S. to meet with Blinken, Harris.

• Hezbollah's Nasrallah has grandson killed by Israeli drone: report.

• Israel to try new solutions for humanitarian aid in Gaza: source.

• China’s premier skips annual press briefing, 1st in 30 years.

Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below).

Advertise on the Bay Area Times

Disclaimer: The Bay Area Times is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. The information, tools, and material presented are provided for informational purposes only, are not financial advice, and are not to be used or considered as an offer to buy or sell securities; and the publisher does not guarantee their accuracy or reliability. You should do your own research and consult an independent financial adviser before making any investments. Neither the publisher nor any of its affiliates accepts any liability whatsoever for any direct or consequential loss howsoever arising, directly or indirectly, from any use of the information contained herein. Assets mentioned may be owned by members of the Bay Area Times team.

Please read our Terms of Service and our Privacy Policy before using Our Service.