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☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

Mr. Trump, even as he seeks to bring the Republican Party fully on board with his renomination, faces significant questions about the political and financial impact of his many legal troubles. For one thing, both Mr. Trump and Mr. Biden are raising money through joint fund-raising committees, which do not have to file reports until April. Mr. Trump, on the other hand, is still fending off a primary challenger, Nikki Haley. And, perhaps more critically, committees backing Mr. Trump are spending millions each month on legal expenses. Mr. Trump faces four criminal indictments along with civil cases, which are proving costly.

Persons: Pete Marovich, Sean Rayford, Biden’s, Donald J, Trump, Biden, Trump’s, Nikki Haley, Haley, Trump’s divisiveness, Julie Chávez Rodríguez, Harris, Donald Trump, Donald Trump’s, Steven Cheung, MAGA, Timothy Mellon, Mellon, Robert F, Kennedy Jr Organizations: The New York Times, The New York Times Credit, Democratic Party, Republican Party, Federal, Democratic National Committee, Mr, Republican National Committee, Biden, Trump, Trump Save America, PAC Save America, Fox News, Save America, MAGA Inc, PAC, New York Times Locations: Iowa, New Hampshire, South Carolina, California

☆ Warren Buffett's Berkshire keeps new stock pick secret — again. Here's what it means
▼ + stars: | 2024-02-18 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

A new stock pick from the 93-year-old Buffett almost always leads some investors to follow suit, quickly moving the share price. Berkshire has been a longtime shareholder in credit rating agency Moody's , and bought a big stake in Citigroup in early 2022. The last financial stock Berkshire bought was Capital One Financial in the first quarter of 2023. If the new stake ever exceeds 5% of whatever stock it is, Berkshire would be required to report its holding with the SEC. Buffett might be asked to reveal the identity of the mystery stock at Berkshire's annual shareholder meeting in early May.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Todd Combs, Ted Weschler, Berkshire's, Goldman Sachs, David Kass, University of Maryland's Robert H, Jamie Dimon, Kass, there's Organizations: Berkshire, The Securities, Exchange, Chevron, Verizon, Apple, Buffett, Bank of America, American Express, Citigroup, Mastercard, Visa, JPMorgan, U.S . Bancorp, Bank of New York Mellon, University of Maryland's, Smith School of Business, outperforming Bank, SEC Locations: Omaha, Berkshire, McLean, Va, Wells, outperforming

☆ Students can soon major in AI at this Ivy League university—it'll prepare them for 'jobs that don't yet exist'
▼ + stars: | 2024-02-16 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

"This dedicated AI program will accelerate students to become AI leaders as quickly as possible in order to address societal challenges as soon as possible." At Penn, all students in the AI program will be required to satisfy an ethics requirement. The new AI courses will be available to all Penn students, regardless of their major. "A cohort of AI engineering students makes for the perfect educational laboratory for testing how best to integrate AI in learning." Penn's new degree will be "training students for jobs that don't yet exist," Ghrist said in the press release.

Persons: Penn grads, Neera, George Pappas, Pappas, Robert Ghrist, Andrea Mitchell, Ghrist Organizations: University of Pennsylvania, Ivy League, Penn, Intelligence, Carnegie Mellon's School of Computer Science, Purdue's College of Science, Stanford University and Massachusetts Institute of Technology, UPS, Penn Engineering, CNBC, Robotics, Machine, Andrea Locations: Penn, U.S

☆ David Tepper's Appaloosa cut exposure to several semiconductor stocks, but bought into one well-known ETF
▼ + stars: | 2024-02-14 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

David Tepper's Appaloosa Management trimmed positions in multiple semiconductor stocks during the fourth quarter, while buying into a closely-watched technology exchange-traded fund. Tepper cut back exposure to Advanced Micro Devices , Intel , Lam Research , Micron , Nvidia and Taiwan Semiconductor in the latest quarter, regulatory fillings show. Taiwan Semiconductor saw the largest sale on a percentage basis, with the Carolina Panthers football team owner approximately halving his stake. Elsewhere in technology, Tepper built an initial stake in Oracle , while adding to Microsoft and Amazon . Microsoft and Amazon are now the second and third largest positions.

Persons: David Tepper's, Tepper, ARKK, Cathy Wood's Organizations: Devices, Intel, Lam Research, Micron, Nvidia, Taiwan Semiconductor, VanEck Semiconductor, Carolina Panthers football, Qualcomm, AMD, Pittsburgh, Innovation, Oracle, Microsoft, Amazon . Holdings, Meta, United Parcel Service, HCA Healthcare, General Motors, FMC, Pitt, Carnegie Mellon, Arista Networks, PDD Holdings, Uber Locations: Lam, Caesars, Alibaba

☆ Penn is the first Ivy League to offer a degree in AI
▼ + stars: | 2024-02-14 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Penn announced its new program in AI on Tuesday, and it's the first of the Ivys to do so. But over the last 10 years, the engineering program has been aligning itself more toward AI and onboarding AI courses. The BSE in AI will offer courses in machine learning, computing algorithms, data analytics, and advanced robotics. In addition to being the first Ivy League to offer a degree in AI, Penn is also the first school to offer a degree in AI engineering. Carnegie Mellon was one of the first schools to start an AI undergraduate program back in 2018.

Persons: —, Neera, Penn, J, Larry Jameson, Penn Engineering Robert Ghrist, Ghrist, Carnegie Mellon Organizations: Service, University of Pennsylvania, Penn, Artificial Intelligence, Telcom Ventures, Business, Education, Penn Engineering, Ivy League, Carnegie, MIT, Stanford Locations: Northwestern

☆ Higher rates raising ‘downside risks’ for regional banks, warns Bank of America
▼ + stars: | 2024-02-14 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The danger of higher rates for longer following the latest hot inflation reading raises the "downside risk" for regional banks, according to Bank of America. "Fewer and later Fed rate cuts pose downside risk to bank stocks," analyst Ebrahim Poonawala wrote in a Tuesday note. "We are especially concerned about the failure of the broader market to project the trajectory of interest rates – a consistent theme since the Fed began raising interest rates in March 2022." "We worry about the risk from no rate cuts in 2024 and a far more elevated level of interest rates across the UST yield curve," Poonawala added. Net interest margin is the difference between the interest banks earn on loans and pay on deposits.

Persons: Ebrahim Poonawala, Poonawala, Goldman Sachs, BNY Mellon, — CNBC's Michael Bloom Organizations: Bank of America, Federal, Treasury, Silicon Valley Bank, Fed, UST, Regional Banking, Regional Banking ETF, JPMorgan, BNY, U.S . Bancorp, First Bancorp Locations: Silicon, U.S, Puerto Rico

“It seems like a great opportunity to highlight that he’s running for president,” Ms. Shanahan said. “I do think we have an environmental health crisis in this country,” Ms. Shanahan said. Stefanie Spear, the press secretary for the Kennedy campaign, did not respond to a request for comment on Monday. Mr. Mellon’s role has raised eyebrows among some Democrats, with fears widespread in the party that Mr. Kennedy could siphon votes away from Mr. Biden. “Neither of us were willing to give up on the idea of the Super Bowl ad,” Mr. Lyons said.

Persons: Robert F, Kennedy Jr, John F, Kennedy, Nicole Shanahan, Sergey Brin, Ms, Shanahan, ” Ms, ”, ” Mr, “, ” Tony Lyons, Shanahan’s, Stefanie Spear, Brin, Biden’s, —, Biden, Emily Elconin, Lyons, Gavin de Becker, de Becker, Kennedy’s, Timothy Mellon, Donald J, Trump, Mr, he’s, Jim Rutenberg Organizations: Sunday, Google, CBS Sports, Paramount, Paramount Global, PAC, Bay Area, Democratic, Democratic National, Trump, Federal Locations: Bay, United States, New York

That's because, the DNC argues, many states — including Arizona, Illinois and Michigan — have rules that candidates or their campaigns be the ones collecting ballot signatures, meaning Kennedy's campaign will have to violate federal rules to meet state requirements. “They simply cannot comply with federal law and state law at the same time,” DNC legal counsel Bob Lenhard said on a conference call with reporters. Tim Mellon, a major donor to Donald Trump, gave American Values $15 million last year, according to federal filings. In December, a campaign watchdog group filed a complaint alleging that Never Back Down, a super PAC supporting Republican Ron DeSantis, was coordinating too closely with the Florida governor's since-suspended presidential campaign. But Linhart said the DNC took the unusual step of filing a complaint against Kennedy itself because what was occurring was “striking” and “dramatic” given that some states mandate candidates or their campaigns collect ballot signatures.

Persons: Robert Kennedy Jr, Kennedy, Bob Lenhard, Tim Mellon, Donald Trump, Joe Biden, Trump, ” Tony Lyons, Biden, Ron DeSantis, Linhart, ” Linhart Organizations: WASHINGTON, —, Democratic National Committee, Federal Elections Commission, White, Super PAC, DNC, RFK Jr, Biden, Democratic, Trump, Florida Locations: Arizona , Illinois, Michigan

☆ DNC files complaint over RFK Jr. super PAC's efforts to put him on state ballots
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +3 min

The Kennedy-aligned super PAC American Values 2024 announced late last year that it would be investing eight figures to assist the signature-gathering efforts of Kennedy's campaign. According to the DNC complaint, that amounts to an illegal contribution from American Values 2024 to Kennedy's campaign, "in violation of federal law." The Kennedy campaign did not immediately respond to a request for comment. The campaign has previously denied coordinating with the super PAC on ballot access efforts. FEC filings show Mellon also donated $10 million to MAGA Inc., the main pro-Trump super PAC, last year.

Persons: Robert F, Kennedy Jr, Kennedy, Bob Lenhard, Lenhard, Tony Lyons, vilify, Lyons, Tim Mellon, Mellon, Gavin De Becker Organizations: Democratic National, PAC, Trump, MAGA Inc, NBC, RFK Jr Locations: Utah

☆ DNC alleges RFK Jr. campaign illegally coordinated with outside group on signature gathering operation
▼ + stars: | 2024-02-09 | by ( Aaron Pellish | David Wright | ) edition.cnn.com time to read: +6 min

Kennedy has stated that his goal is to appear on the ballot in all 50 states and DC,” the DNC wrote. But the complaint argues that coordination is required for the ballot access efforts by American Values and Team Kennedy, and thereby the group’s support runs afoul of campaign finance laws. Kennedy campaign manager Amaryllis Fox Kennedy denied coordinating with the outside group in a statement to CNN. In the complaint, the DNC alleges the PAC “must coordinate” with the Kennedy campaign to successfully operate its supplemental signature gathering operation. It’s pretty clear that Trump and his mega donors are propping up RFK Jr. as a stalking horse,” DNC adviser Ramsey Reid said.

Persons: Robert F, Kennedy Jr, ’, Kennedy, “, “ Mr, ” Kennedy, —, ”, Amaryllis Fox Kennedy, Tony Lyons, Bobby Kennedy, ” Lyons, Jr, ” Deirdre Goldfarb, Donald Trump, Tim Mellon, Donald Trump’s, Lis Smith, ” Mellon, “ We’re, Trump, Ramsey Reid Organizations: CNN, Democratic National Committee, White, DNC, ”, American, PAC, Trump, Republican, RFK, America, GOP, RFK Jr Locations: United States, Michigan , Arizona, Georgia

☆ It Started as Winter Break. It Ended With a Doomed Moon Mission.
▼ + stars: | 2024-02-09 | by ( Kenneth Chang | ) www.nytimes.com time to read: +1 min

A gaggle of students from Carnegie Mellon University in Pittsburgh traveled to Florida last month during their winter break. The students, many of them studying to be engineers and scientists, went there to watch a rocket launch that would send a small 4.8-pound robotic rover that they had helped build on its journey to the moon. Afterward, they hoped to have time for some sun and fun, renting a large house just three blocks from the beach. The rover, named Iris, headed toward the moon on schedule in a perfect inaugural flight of Vulcan, a brand-new rocket. “We had a mission,” said Connor Colombo, the chief engineer for Iris.

Persons: ”, Nikolai Stefanov, Iris, “, Connor Colombo, I’m Organizations: Carnegie Mellon University Locations: Pittsburgh, Florida

☆ One of Wall Street's favorite ways to control workers is under attack
▼ + stars: | 2024-02-08 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +9 min

One of Wall Street's favorite employee leverage tactics — non-compete agreements — is facing a major threat, and there could be far-reaching implications for how the financial industry does business. But it's also clear that Wall Street firms are under particular attention for the practice. With major Wall Street firms already having among the most unpopular back-to-work policies in the market, "Wall Street is already in a position where they are recognizing they don't have all the hands they had before," Chamberlin said. Shore recommends Wall Street firms undertake a thorough competitive analysis at every level in every department to ensure they are market competitive. Even if the FTC rule goes through, Wall Street firms still have options to protect their business.

Persons: Charles Scharf, Wells, Brian Thomas Moynihan, Jamie Dimon, JPMorgan Chase, Jane Fraser, Ronald O’Hanley, Robin Vince, BNY Mellon, David Solomon, Goldman Sachs, James Gorman, Morgan Stanley, General Mills, —, Wall, it's, Kathy Hochul, that's, Covid, Laurie Chamberlin, Chamberlin, Lina Khan's, Khan, It's, David Fisher, Gilbert, Fisher, Juan A, Crowell, Arteaga, Paul Webster, Matt Shore, Kareem Bakr, Webster, Leslie John, Ballard Spahr, John Organizations: Company, Bank of America, JPMorgan, Citigroup, BNY, Google, Apple, Pfizer, Exxon Mobil, General Electric, Procter, Gamble, Nike, Economic, Institute, Federal Trade Commission, North America, American College of Emergency Physicians, Davis, FTC, Supreme, Industry, Moring, Wall, Phaidon International, Wall Street Locations: Wells Fargo, Hart, Washington ,, New York, . California, U.S, Gilbert . Massachusetts, Oregon, Washington, Massachusetts

☆ Check out the pitch deck video AI firm ViralMoment used to raise $2.5 million in seed funding
▼ + stars: | 2024-02-05 | by ( Lauren Johnson | ) www.businessinsider.com time to read: 1 min

ViralMoment raised funds to expand its AI-based video tools. The tools help marketers identify what people are talking about on social media. It recently identified fake, explicit images of Taylor Swift that appeared online. ViralMoment, which uses AI to analyze short-form social videos on platforms like TikTok, raised $2.5 million in seed funding. This story is available exclusively to Business Insider subscribers.

Persons: ViralMoment, Taylor Swift, Techstars, Chelsie Hall Organizations: Supernode Global, Crush Ventures, Duo Partners, Carnegie Mellon University, US Department of Defense, Department of State, Business

☆ These ETFs could help investors reduce Big Tech exposure
▼ + stars: | 2024-02-03 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +1 min

Big Tech's market dominance may push more investors to equal-weight exchange-traded funds, according to VettaFi's Todd Rosenbluth. Rosenbluth lists the Invesco S&P 500 Equal Weight ETF and the Invesco S&P 500 Equal Weight Technology ETF as options for investors who want to reduce exposure to the "Magnificent Seven." "You own the same companies that you'd find within the S&P 500 or in the technology sector. But instead of being dominated by Apple and Microsoft and Nvidia, you spread that risk around to the other companies," Rosenbluth said. CNBC's Magnificent 7 Index, which is comprised of Apple, Alphabet, Meta , Microsoft , Amazon , Nvidia and Tesla , soared almost 6% Friday.

Persons: VettaFi's Todd Rosenbluth, Rosenbluth, BNY Mellon's Ben Slavin, CNBC's Organizations: Nasdaq, Apple, Microsoft, Nvidia, Big Tech, Tesla

☆ This bond ETF will get the biggest bang for its buck in 2024, says VettaFi’s Rosenbluth
▼ + stars: | 2024-02-01 | by ( Natalie Zhang | ) www.cnbc.com time to read: +1 min

Long-term yields might be the best bond investment this year, according to one exchange-traded fund expert. "The iShares 20-year Treasury ETF (TLT ) will get the biggest bang for its buck [and] some of the intermediate-term products like the Vanguard Intermediate-Term Corp Bond (VCIT ) will get some bang for the buck," VettaFi's Todd Rosenbluth told CNBC's "ETF Edge" on Monday. Rosenbluth added that while the short-term products were very popular last year, they will "largely tread water or earn a little more than their overall income." The firm's head of research reasons that if the Federal Reserve cuts interest rates more than expected then investors should stay in longer-term products to benefit. "We saw a lot of money start to move out of the short end of the curve into intermediate duration," said Slavin, the company's global head of ETFs.

Persons: VettaFi's Todd Rosenbluth, CNBC's, Rosenbluth, BNY Mellon's Benjamin Slavin Organizations: Treasury, Corp, Federal Reserve

☆ Consumers are running out of excess savings, says BNY Mellon's Sonia Meskin
▼ + stars: | 2024-02-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are running out of excess savings, says BNY Mellon's Sonia MeskinSonia Meskin, head of U.S. macro at BNY Mellon Investment Management, joins 'Money Movers' to discuss the Federal Reserve's decision to cut a March rate off the table, her expectations from the Fed, and more.

Persons: BNY Mellon's Sonia Meskin Sonia Meskin Organizations: Consumers, BNY Mellon Investment Management

☆ The Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent Reinhart
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will put off policy action until at least June: Dreyfus and Mellon's Vincent ReinhartVincent Reinhart, Dreyfus and Mellon chief economist and former Fed economist, joins 'Money Movers' to discuss what to expect from the Federal Reserve in March, the risks to inflation, and clues to see an incrementally weaker job market.

Persons: Dreyfus, Mellon's Vincent Reinhart Vincent Reinhart Organizations: Mellon, Fed, Federal Reserve

☆ Here are Tuesday's biggest analyst calls: Amazon, Tesla, Goldman Sachs, Meta, Salesforce, Boeing, Spotify & more
▼ + stars: | 2024-01-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan initiates Light & Wonder as outperform JPMorgan initiated the Australian gambling company with an overweight and said it has earnings momentum. Evercore ISI reiterates Meta as outperform Evercore said it's bullish on Meta heading into earnings later this week. " Evercore ISI reiterates Amazon as outperform Evercore said it's bullish heading into Amazon earnings later this week. We are upgrading Bank of America (BAC) to OW from EW, upgrading Citigroup (C) to OW from UW, upgrading Goldman Sachs (GS) to OW from EW, and upgrading BNY Mellon (BK) to EW from UW. Bank of America reiterates Uber as buy Bank of America raised its price target on the stock to $73 per share from $68.

Persons: Oppenheimer, Raymond James, CrowdStrike, Mizuho, Evercore, it's, Morgan Stanley, Instacart, Morgan, Goldman Sachs, Raymond James downgrades, McDonald's, Wells, Baird, Tesla, TSLA, BTIG, Jefferies, Masimo, MASI, Uber Organizations: Accenture, Mizuho, JPMorgan, Morgan Stanley, Bank of America, Citi, Citigroup, BNY Mellon, BK, UW, Trust, AMD, Salesforce Inc, UBS, Spotify, sss, Western Alliance, WAL, Boeing, Olema Oncology, Breast Cancer, " Bank of America, Netflix, Seaport Locations: OW, UW, Wells Fargo

☆ Investors are looking to buy spot bitcoin ETFs in the next four to six months: VettaFi's head of research
▼ + stars: | 2024-01-29 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors are looking to buy spot bitcoin ETFs in the next four to six months: VettaFi's head of researchBen Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss investing in spot bitcoin ETFs.

Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani

☆ Investing opportunities beyond the Magnificent 7
▼ + stars: | 2024-01-29 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvesting opportunities beyond the Magnificent 7Ben Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss how investors are expanding beyond the Magnificent 7 stocks.

Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani

☆ ETF Edge: Alternatives to the 'Magnificent 7'
▼ + stars: | 2024-01-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: Alternatives to the 'Magnificent 7'Ben Slavin, BNY Mellon's global head of ETFs, joins CNBC's Bob Pisani on 'Halftime Report' to discuss the state of spot bitcoin ETFs and the alternative stocks to the 'Magnificent 7'.

Persons: Ben Slavin, Bob Pisani

☆ How to best position for rate cuts
▼ + stars: | 2024-01-29 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to best position for rate cutsBen Slavin, BNY Mellon's global head of ETFs, and Todd Rosenbluth, VettaFi's head of research, join CNBC's Bob Pisani on 'ETF Edge' to discuss how investors are investing amid rate cuts, bond flows and more.

Persons: Ben Slavin, Todd Rosenbluth, Bob Pisani

☆ Mark Cuban: Here's the moment I knew I wouldn’t succeed in corporate America
▼ + stars: | 2024-01-28 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Mark Cuban once pictured himself running a major corporation — until he started his first job out of college. The experience "sealed" something he probably already knew, Cuban told CNBC Make It via email: If he wanted to run a company, he'd likely have to build his own. "I was a lousy employee because I was a know-it-all," Cuban told Wired last year. But not every prospective entrepreneur is as successful as Cuban, who launched a software company called Microsolutions in 1983 and kept it afloat through some turbulent early years. Cuban's second business, Broadcast.com, was acquired by Yahoo for $5.7 billion in 1999.

Persons: Mark Cuban, Cuban, Trevor Noah's, unkindly, he's, didn't, he'd Organizations: —, University of Indiana, Mellon Bank, CNBC, Software, Wired, Yahoo Locations: Pittsburgh, Cuban, America, Dallas

☆ A new AI detection tool may have solved the problem of false positives for student writing, researchers say
▼ + stars: | 2024-01-24 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

The researchers tested Binoculars on large sets of data compiled of news writing, creative writing, and student essays. As generative AI tools like ChatGPT explode in popularity, concerns have grown about students using AI to complete academic work while passing it off as their own. At the same time, many students have been wrongly accused of using AI, based on results of AI detection tools. Last year, schools and universities began disabling such AI detection tools. The researchers claimed Binoculars' method corrects for the role a person prompting an AI tool plays in the output, which has been pointed to as a cause for false positives in AI detection tools.

Persons: they've, Abhimanyu Hans, Dustin Moskovitz, Abu Dhabi's Falcon, Hans, Perplexity Organizations: Business, University of Maryland, Vanderbilt University, Carnegie Mellon University, New York University, Tübingen AI, Capital, Amazon Research

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