DIRS.INFO The most relevant business & tech news

☆ My blog was plagiarized using AI. Here's what that means for the future.
▼ + stars: | 2023-01-26 | by ( Alex Kantrowitz | Big Technology | ) www.businessinsider.com time to read: +6 min

Big Technology is a newsletter about tech and society by independent journalist Alex Kantrowitz . A Substack plagiarized analysis from Big Technology and posted it. The core of the story, lifted from Big Technology, was good enough to spark a discussion. The tools enable AI writing and likely helped remix the original article. Follow Big Technology on Twitter.

☆ FTX says $415 million in crypto was hacked
▼ + stars: | 2023-01-17 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

[1/2] The logo of FTX is seen at the entrance of the FTX Arena in Miami, Florida, U.S., November 12, 2022. REUTERS/Marco BelloJan 17 (Reuters) - Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks. Some $323 million in crypto had been hacked from FTX's international exchange and $90 million had been hacked from its U.S. exchange since it filed for bankruptcy on Nov. 11, CEO John Ray said in a separate statement on Tuesday. FTX told a bankruptcy judge in Delaware last week that it had recovered over $5 billion in crypto, cash and liquid securities, nine weeks after declaring bankruptcy. The crypto assets recovered to date include $685 million in Solana, $529 million in FTX's proprietary FTT token and $268 million in bitcoin, based on crypto prices on Nov. 11, 2022.

Harris, the former American Idol contestant whose soulful voice wowed the judges and whose sweet demeanor won him legions of fans, has died of an apparent heart attack. Harris was an incredible talent, and the news of his passing deeply saddens us," a statement posted on American Idol's official Instagram page read. Harris told The Hollywood Reporter in a 2014 interview that his mother was his first musical influence. It wasn't until 2014 that Harris made his musical mark when he placed sixth in American Idol's 13th season. "You sing because you have to sing, not because you want to sing," Urban told Harris.

☆ The contender for tech's next big boom or bubble is here
▼ + stars: | 2023-01-13 | by ( Jake Swearingen | ) www.businessinsider.com time to read: +5 min

It's the hunt for big paydays that keeps VC markets a little frothy when new tech like generative AI hits the scene. And a bubble is only a bubble in the rear-view — in the moment, it's just making sure you don't miss out on the future. Generative AI tools can be used to create a variety of texts and images like this one, which was produced by OpenAI's DALL-E 2. But could generative AI be the next bubble in tech? Click here to read whether the next tech bubble is already here.

☆ ChatGPT and generative AI look like tech's next boom. They could be the next bubble.
▼ + stars: | 2023-01-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Generative AI is the catchall term for artificial intelligence that can create something new — text or images for example — from existing data, when given prompts. OpenAI's generative AI tools can seemingly do anything from write poetry and code to producing frame-worthy art, triggering huge excitement in the space. How generative AI generates revenue is unclearAll of this might be justifiable if there was a clear path for AI firms to make money. Some of the hype around generative AI may be justified and the technology feels genuinely exciting. But to avoid another bubble, investors would do well to quiz the fundamentals of generative AI businesses, before handing out hefty valuations.

☆ ChatGPT is coming for classrooms, hospitals, marketing departments, and everything else as the next great startup boom emerges
▼ + stars: | 2023-01-10 | by ( Emilia David | ) www.businessinsider.com time to read: +4 min

Entrepreneurs are encouraged to look at generative AI as a tool to solve a myriad of problems. This year will be the year new ways of using generative AI will thrive. Jasper competitor Copy.ai, which uses ChatGPT for marketing, raised $11 million in Series A in October 2021. Not all generative AI companies have longevity, and not all sectors have problems that generative AI can solve. For now, investors are confident their bets in generative AI will pay off, said Josh Constine, partner at Signal Fire.

☆ Hot AI startup Scale AI, valued at $7 billion, has laid off 20% of its staff. Insiders say employees found out when they were locked out of their computers.
▼ + stars: | 2023-01-09 | by ( Samantha Stokes | Stephanie Palazzolo | ) www.businessinsider.com time to read: +4 min

Scale AI laid off 20% of its workforce this morning, Insider has learned. Scale AI has raised more than $600 million from investors like Tiger and Y Combinator and was valued at $7 billion. Buzzy artificial intelligence data-management startup Scale AI, which was last valued at $7 billion in 2021, laid off 20% of its workforce Monday morning, Insider has learned. Founded in 2016 by Alexandr Wang and Lucy Guo, Scale AI was a member of the prestigious accelerator program Y Combinator's summer 2016 cohort. However, the job cuts at Scale AI – once a Silicon Valley darling – seem to suggest otherwise.

☆ Generative AI startups were already hot with VCs. ChatGPT poured gasoline onto the fire.
▼ + stars: | 2023-01-06 | by ( Emilia David | ) www.businessinsider.com time to read: +5 min

Generative AI firms, the category that ChatGPT falls under, saw big valuations in the past year. But even before the rise of ChatGPT, the space was buzzing as generative AI companies began raising large amounts of cash from venture capital. Startups using generative AI rose eyeball-popping amounts in the past year, especially during an overall bad year for VC investments. A hot market gets even hotterInvesting in generative AI and machine learning is nothing new for VCs. Defensibility is a key concern for generative AI startups that rely on OpenAI.

Bankman-Fried left the courthouse, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters Video. The Ministry of Foreign Affairs in The Bahamas said in a statement that the foreign minister had signed off on allowing Bankman-Fried's extradition to the United States. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/10] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited.

Bankman-Fried left the courthouse, surrounded by guards with assault weapons, and entered a vehicle, according to Reuters Video. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/10] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

It paves the way for the founder of the FTX cryptocurrency exchange to be flown to the United States as early as Wednesday afternoon. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/8] Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted into the Magistrate Court building in Nassau, Bahamas December 21, 2022. This rule, which is in The Bahamas’ extradition treaty with the United States, says a person can be tried only on the charges for which they are extradited. Bankman-Fried has acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability.

NASSAU, Dec 21 (Reuters) - Sam Bankman-Fried left a Bahamas correctional facility and arrived in court on Wednesday morning, a source said, a day after the founder of the FTX cryptocurrency exchange signed papers paving the way for his extradition to the United States, where he faces fraud charges. Bankman-Fried is expected to sign additional papers in court finalizing his waiver of rights to fight extradition, another person close to the matter told Reuters. Bankman-Fried was arrested on a U.S. extradition request last week in The Bahamas, where he lives and where FTX is based. [1/6] Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Wednesday's hearing will follow a confusing sequence of events this week that left the status of Bankman-Fried's expected extradition unclear.

☆ VCs say hybrid work, generative AI, and niche collaboration tools will be some of the top future-of-work trends that dominate 2023
▼ + stars: | 2022-12-20 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +6 min

Insider talked to VCs about the rising trends they say will revolutionize the way we work and live. Insider spoke with 15 venture capitalists about the trends and verticals they think are most likely to revolutionize the way we work and live today. Therefore, startups that will thrive going forward are those that embrace a mix of in-person and remote work, known as hybrid work, Thacker and other VCs said. An increase in workers caregiving for aging or sick family members is also supported by flexible work, the CRV general partner Kristin Baker Spohn said. "A lot of employees, whether it's the Great Resignation or the pandemic, found themselves changing the way that they work."

It was not immediately clear when Bankman-Fried would depart the Bahamas, where he was arrested on Dec. 12 per a U.S. extradition request. At the hearing, his local criminal defense attorney, Jerone Roberts, told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. Serville said at the hearing that he could not take any action on Bankman-Fried's extradition without the former billionaire's consent. [1/9] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. At one point during the hearing, Bankman-Fried leaned back with his eyes closed and appeared to be awakened by a court official.

Krystal Rolle, a lawyer who has represented Bankman-Fried on other matters in the Bahamas, told Reuters Bankman-Fried had decided to consent to be extradited to the United States. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. During Monday's hearing, Bankman-Fried, dressed in a dark blue jacket and an untucked white shirt, spoke only to greet Magistrate Shaka Serville and confirm he would speak with his U.S. counsel. Roberts told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. When the hearing concluded, Bankman-Fried was given the chance to speak on the phone with his U.S. defense lawyer with Roberts present.

When the hearing concluded, Bankman-Fried was given the chance to speak on the phone with his U.S. defense lawyer with Roberts present. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas' Department of Corrections. [1/9] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried leaves the Magistrate Court building in Nassau, Bahamas December 19, 2022. Roberts told Serville initially that he did not know why Bankman-Fried was brought to court on Monday morning. Following a recess, the lawyer said Bankman-Fried wanted to see the indictment before consenting to extradition.

Bankman-Fried initially had said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. [1/7] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried arrives at the Magistrate Court building in Nassau, Bahamas December 19, 2022. Bankman-Fried's defense lawyer initially told Serville that he did not know why Bankman-Fried was brought to court on Monday morning. Following a recess, the lawyer said that Bankman-Fried wanted to see the indictment before consenting to extradition. Mark Cohen, a U.S. lawyer who represents Bankman-Fried, did not immediately reply to a request for comment.

Bankman-Fried initially had said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. Reuters reported first on Saturday that Bankman-Fried would return to court to reverse his decision, citing a source. Bankman-Fried's defense lawyer however told Magistrate Shaka Serville that he does not know why Bankman-Fried was brought to court this morning. LONG ROAD TO EVENTUAL TRIAL[1/7] The Founder and former CEO of crypto currency exchange FTX Sam Bankman-Fried arrives at the Magistrate Court building in Nassau, Bahamas December 19, 2022. REUTERS/Dante Carrer 1 2 3 4 5Upon being extradited to the United States, Bankman-Fried would be required to appear before a judge in Manhattan within two days, though the hearing would likely take place quickly.

Dec 19 (Reuters) - Sam Bankman-Fried, founder of now-bankrupt crypto exchange FTX, is expected to appear in court in the Bahamas on Monday and agree to be extradited to the United States, where he faces fraud charges. Bankman-Fried initially said he would fight extradition after his arrest a week ago in the Bahamas, where he lives and FTX is based. Reuters reported first on Saturday that Bankman-Fried would return to court to reverse his decision. Upon being extradited to the United States, Bankman-Fried would be required to appear before a judge in Manhattan within two days, though the hearing would likely take place quickly. Any trial of Bankman-Fried is likely more than a year away, legal experts told Reuters.

☆ 'How dare he?' New Hampshire seethes at Biden's planned changes to the 2024 Democratic presidential primaries
▼ + stars: | 2022-12-18 | by ( Natasha Korecki | Natasha Korecki Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +9 min

“How dare he?” Laurie Jasper, a member of the New Hampshire Federation of Republican Women, said. Salting the wound was the revelation that South Carolina hadn’t even asked to be first, and officials there contend they were as surprised as anyone to be handed the spot. In South Carolina, the majority of Democratic primary voters are African American. “North Carolina is more diverse than South Carolina. Democrats say they aren’t about to retreat behind South Carolina and anyway, they can’t.

☆ Exclusive: Sam Bankman-Fried to reverse decision on contesting extradition
▼ + stars: | 2022-12-17 | by ( Jasper Ward | ) www.reuters.com time to read: +4 min

His decision to consent to extradition would pave the way for him to appear in U.S. court to face wire fraud, money laundering and campaign finance charges. At his initial court hearing in Manhattan, Bankman-Fried would be asked to enter a plea and a judge would make a determination on bail, Margulis-Ohnuma said. The attorney added that such a hearing must take place within 48 hours of Bankman-Fried's arrival in the United States, though it would likely be sooner. Bankman-Fried has acknowledged risk management failings at FTX but has said he does not believe he has criminal liability. 'BIGGEST FINANCIAL FRAUDS IN AMERICAN HISTORY'It was not immediately clear what prompted Bankman-Fried to change his mind and decide not to contest extradition.

☆ Sam Bankman-Fried to reverse decision on contesting extradition -source
▼ + stars: | 2022-12-17 | by ( Jasper Ward | ) www.reuters.com time to read: +1 min

Dec 17 (Reuters) - Former FTX CEO Sam Bankman-Fried is expected to appear in court in The Bahamas on Monday to reverse his decision to contest extradition to the United States, where he faces fraud charges, a person familiar with the matter said on Saturday. The cryptocurrency mogul was indicted in federal court in Manhattan on Dec. 13 and accused of engaging in a scheme to defraud FTX customers. Bankman-Fried, 30, was arrested on Monday in The Bahamas, where he lives and where FTX is based. Neither a spokesman nor a U.S.-based lawyer for Bankman-Fried immediately responded to requests for comment. Bankman-Fried had made a new bail application before The Bahamas Supreme Court on Thursday, a person familiar with the matter told Reuters at the time.

Dec 16 (Reuters) - The Bahamas should not be blamed for the collapse of bankrupt cryptocurrency platform FTX, the country's foreign minister said on Friday, following repeated accusations by FTX management of alleged misconduct by the Caribbean nation's authorities. In a withering voice recording distributed over WhatsApp on Friday morning, Bahamas Foreign Minister Fred Mitchell, said "this blame game directed at The Bahamas" is undermining efforts to recover assets that were lost as a result of fraud. "We in The Bahamas can ask the question: How did the mastermind of FTX get on the front page of Forbes magazine, a U.S. magazine? On Thursday, his lawyers filed a new bail application, this time before the Supreme Court, according to a source. Reporting by Jasper Ward in Washington and Brian Ellsworth in Miami Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Bankman-Fried makes new bail application after losing first request: source
▼ + stars: | 2022-12-15 | by ( Industry Insight | Saw Law Firms Move Past The Pandemic Into A More Client-Focused Service Environment | Thomson Reuters Institute | ) www.reuters.com time to read: +1 min

Dec 15 (Reuters) - Former FTX CEO Sam Bankman-Fried has made a bail application before The Bahamas Supreme Court, a source familiar with the matter said on Thursday, after a magistrate judge on Tuesday rejected the former crypto mogul's request for bail. The source, who asked not to be identified, said the application was made on Thursday. Bahamas broadcaster Eyewitness News on Thursday reported that the Supreme Court would hear the bail application on Jan. 17, without citing sources. Bankman-Fried amassed a fortune valued over $20 billion as he rode a cryptocurrency boom to build FTX into one of the world's largest exchanges before it abruptly collapsed this year. Reporting by Jasper Ward in Washington, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Three sources briefed on OpenAI's recent pitch to investors said the organization expects $200 million in revenue next year and $1 billion by 2024. OpenAI was most recently valued at $20 billion in a secondary share sale, one of the sources said. The startup has already inspired rivals and companies building applications atop its generative AI software, which includes the image maker DALL-E 2. OpenAI has also attracted attention as an AI provider and potential Google search competitor, with ChatGPT answering queries for more than 1 million users so far. OpenAI warns users, ChatGPT "may occasionally produce harmful instructions or biased content."

Search resuls for: "JASPER"

25 mentions found