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The only other U.S. high-speed line is Amtrak's Acela service between Boston and Washington, D.C., which began in 2000. Brightline began planning in 2012. A 2018 partnership with Richard Branson's Virgin Group to rebrand Brightline as Virgin Trains USA quickly soured. According to the lawsuit, Brightline says Virgin “ceased to constitute a brand of international high repute, largely because of matters related to the pandemic." He said Brightline’s accommodations “compare really well to some of the best trains” he’s taken in Europe, where high-speed rail between cities is common.
Persons: Florida's Brightline, It's, Mike Reininger, John Renne, Brightline, ” Renne, Richard Branson's, Virgin “, hasn’t, Eric Flowers, , ” Brightline, Reininger, ” Reininger, Robert Barr, You’ve, Barr Organizations: MIAMI, Fortress Investment, West Palm Beach, D.C, Amtrak, Florida Atlantic University's Center for Urban, Environmental Solutions, Miami -, Richard Branson's Virgin Group, Virgin Trains USA, Virgin, Orlando Locations: United States, Miami, Orlando, West Palm, Southern California, Las Vegas, Boston, Washington, Florida, Tampa, Jacksonville, Miami - Orlando, London, U.S, West, County, We’re, Vero, Brightline’s Miami, South, Florida’s, Europe
Generative AI is making it easier to work multiple jobs at the same time. AI tools will lift earnings from multiple jobs by at least $83 billion by 2030, Morgan Stanley says. They forecast $400 billion in income from multiple jobs by 2030, with generative AI contributing about $83 billion of that. Morgan Stanley noted a 14% lift in call center productivity and a 55% boost for writing code, as examples. In content creation and e-commerce, 37% and 34% of respondents respectively said their income had been boosted with the help of generative AI tools.
Persons: Morgan Stanley, AlphaWise, Morgan Stanley Research There's, Bard, Claude, Morgan Organizations: Service, Morgan Stanley Research, Google Locations: Wall, Silicon, India, OpenAI, Anthropic
This is one of the concerns that has turned Instacart's IPO into a flop on its second day as a public company. To be successful, an IPO must deliver a big pop to the investors who signed on to buy stock when it debuts. He came out with an analysis of Instacart's business on Tuesday, valuing the company at $29 a share. The reason: The grocery business is low-margin, so there's not a lot of room for Instacart to skim more fees. "In short, the growth in online grocery sales will be higher than total grocery sales growth, but not overwhelmingly so."
Persons: Aswath Damodaran, Fidji Simo, Instacart, Rowe Price, Damodaran, there's, Uber, Instacart doesn't Organizations: Service, Fidelity, DST Global, NYU's Stern School of Business, Instacart Shoppers, Shoppers, Tech Locations: Wall, Silicon, Aswath, COVID
When the summer began, ChatGPT traffic suddenly fell. One hypothesis stood out: Millions of students went on summer break, so they didn't need ChatGPT to cheat — er, I mean research. Back when summer began, online search interest in Minecraft jumped, while ChatGPT interest declined. Mark Shmulik, a top internet analyst at Bernstein, made this point at the start of the summer, when usage fell. "This idea that if the ChatGPT drop-off is due to students on summer break, that implies a narrower audience and fewer use cases."
Persons: ChatGPT, OpenAI's, they're, François, Mark Shmulik, Bernstein, OpenAI, Shakespeare Organizations: Service, Google Locations: Wall, Silicon, Minecraft
Cerebral Valley, an AI conference run by Eric Newcomer's eponymous publication, just announced its second gathering of 2023. CVAI2 (Cerebral Valley AI Summit version 2.0) will take place on November 15 at the SFJAZZ Center in Hayes Valley, San Francisco. The neighborhood is nicknamed Cerebral Valley these days, due to the plethora of AI startups that have sprouted there. Ali Ghodsi, CEO of Databricks, and Naveen Rao, CEO of MosaicML, met for the first time at the initial Cerebral Valley AI Summit. That's the biggest generative AI startup deal so far, by my counting.
Persons: Vinod Khosla, Reid Hoffman, Adam D'Angelo, Eric Newcomer's, Mustafa Suleyman, Ali Ghodsi, Kanjun Qiu, Chris Lattner, May Habib, Naveen Rao, Jason Warner, Max Child, James Wilsterman, Amjad Masad, Clem Delangue, Emad, Daniela Amodei, Cristobal Valenzuela, Shane Orlick, MosaicML, it's Organizations: SFJAZZ, Service, Industry Locations: Hayes Valley, San Francisco, Wall, Silicon, Jasper
Republican presidential candidate and former U.S. President Donald Trump speaks as he campaigns at the Iowa State Fair in Des Moines, Iowa, U.S. August 12, 2023. "It was my decision," Trump told NBC's "Meet the Press" program, that the election was "rigged" against him, adding that he relied heavily upon his own "instincts" in coming to that conclusion. Trump has continued to make false claims that the election was stolen from him through widespread voting fraud. Asked why he dismissed the views of lawyers in the White House and his campaign that he had lost the election, Trump responded: "Because I didn't respect them." U.S. courts threw out dozens of legal challenges from Trump's campaign and allies following the November 2020 election.
Persons: Donald Trump, Evelyn Hockstein, Joe Biden, Biden, Trump, NBC's, William Barr, Bill Barr, Jason Lange, Scott Malone, Will Dunham Organizations: Fair, REUTERS, Rights, Former U.S, Trump, Republican, Democratic, Press, White, Thomson Locations: Iowa, Des Moines , Iowa, U.S, Former, Washington, Georgia
EVs have fewer parts than gas-powered vehicles. This means fewer jobs in the industry. That means fewer jobs because EVs are much simpler and therefore easier to assemble. Higgins wrote a book about Tesla, called Power Play, that expertly explains how the company developed a more efficient vehicle manufacturing process. The Tesla Giga Press is a giant machine that uses aluminum die casting to make much larger vehicle parts.
Persons: Stellantis, Tesla, I've, Jim Farley, Carl Court, Elon Musk, Tim Higgins, Higgins Organizations: GM, Ford, EV, Service, Bloomberg, Congressional Research Service, Labor, Auto, Financial Times, UAW, Street, Tesla, Shanghai, Giga, Tesla Giga Press, Toyota, Hyundai, Reuters Locations: Wall, Silicon, Dagenham , England
Johnathan Buma says his FBI supervisors didn't care about his leads tying Giuliani to Russian intelligence. They are also investigating Hunter Biden for the firearm-related charges that he was indicted for this week. FBI didn't care about Giuliani's possible Kremlin ties, Buma says"Rudy Giuliani may have been compromised by individuals suspected of being involved in Russian counterintelligence influence operations," Buma told Insider. According to Buma's disclosure, an FBI Intelligence Information Report asserted that Fuks was "a co-opted asset of the RIS" or the Russian intelligence services. Hunter Biden left his laptop at a computer repair store in April 2019.
Persons: Johnathan Buma, Giuliani, Hunter Biden, Robert Mueller's Trump, Donald Trump's, Buma, Biden, Trump, Rudy Giuliani, Pavel Fuks, Fuks, Burisma, Hunter's, George Soros, Hunter Biden's, Bill Barr's, Geoffrey Berman, Bill Barr, Barr, Berman, he's, Amelia Kosciulek, we're, aren't, Mattathias Schwartz Organizations: FBI, Service, Los Angeles Field Office, Trump, GOP, of Justice, New York Post, Southern, of New, Washington Field Office, New York Field Office Locations: Russian, Wall, Silicon, Russia, Mar, Lago, Ukrainian, Moscow, Washington, Ukraine, Ukraine —, Delaware, of New York, Buma, schwartz79@protonmail.com
CNN —Justice Department prosecutors want US District Judge Tanya Chutkan to reel in Donald Trump’s public statements in the federal 2020 election interference case against him, asking her to place a court order limiting what he can say, according to a newly released filing. The request for a limited gag order, filed in recent days, represents the most direct response from prosecutors with special counsel Jack Smith’s office to the former president’s public statements to date. The Justice Department said the order is needed to protect the integrity of his trial in March. Trump has already been ordered not to intimidate potential witnesses or talk to them about the facts of the case. They are also seeking a court order that would block Trump’s lawyers from polling potential jurors for the case without the court’s approval first.
Persons: Tanya Chutkan, Donald Trump’s, Jack Smith’s, Trump, , Smith, Joe Biden, Chutkan, Mike Pence, Bill Barr –, Prosecutors, ” Trump, Smith’s Organizations: CNN — Justice Department, Justice Department, Trump –, Chutkan, Trump, ” Prosecutors, Defense, Capitol Locations: Washington ,, United States
The raw materials for creating AI
  + stars: | 2023-09-15 | by ( Alistair Barr | Kali Hays | ) www.businessinsider.com   time to read: +5 min
The AI models behind this technology are built using high-quality datasets from millions of different sources. These are the raw materials for model "training," in industry parlance. Nvidia GPUs are the main hardware required for AI model training. AdvertisementAdvertisementOver 8,000 authors, including Margaret Atwood and James Patterson, signed an open letter demanding compensation from AI companies for using their works to train AI without permission. Got a tip or insights about the leading AI companies OpenAI, Google, Microsoft and Meta?
Persons: ChatGPT, Nat Friedman, Ben Thompson, Friedman, There's, OpenAI, Reddit, Sarah Silverman, Margaret Atwood, James Patterson, JK Rowling's Harry Potter, Alistair Barr Organizations: Service, Nvidia, Tech, Amazon, LexisNexis, Meta, Google, Microsoft, Twitter Locations: Wall, Silicon, abarr@insider.com
Yelling at Michael Barr, the Federal Reserve’s top banking regulator, has never been particularly effective, his friends and co-workers will tell you. That hasn’t stopped America’s biggest banks, their lobbying groups and even his own colleagues, who have reacted to his proposal to tighten and expand oversight of the nation’s large lenders with a mix of incredulity and outrage. The proposal would push up the amount of easy-access money that banks need to have at the ready, potentially cutting into their profits. Lawmakers sent worried letters to the Fed and peppered its officials with questions about what the proposal would contain. The Bank Policy Institute, a trade group, recently rolled out a national ad campaign urging Americans to “demand answers” on the Fed’s new capital rules.
Persons: Michael Barr, hasn’t, Kevin Fromer, Barr, Lawmakers Organizations: Federal, Financial Services, Mr, BNP Paribas, HSBC, TD Bank, Hill, Bank Policy Institute, Fed
Many growth funds have performed on pace with the S & P 500 this year, driven by mega-cap names such as Nvidia , Alphabet and Tesla . The Needham Aggressive Growth Fund , however, has outperformed. Aggressive growth funds are focused on investing in growth stocks, with high potential future to grow — but also higher risk. Picking companies Portfolio manager Barr, who has managed the fund since 2010, told CNBC Pro that "there is a rich universe of investment opportunities beneath the big tech companies like Nvidia." "There are small-cap companies with rapid growth, and also with the steady growth that Needham prefers."
Persons: It's, John Barr —, Barr, Needham Organizations: Nvidia, Big Tech, Morningstar, CNBC, Apple, Needham Funds Locations: industrials, Barr, United States
REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsWASHINGTON, Sept 8 (Reuters) - The Federal Reserve's top regulatory official said on Friday the central bank is "a long way" from any decision on whether it would issue its own digital currency, and added it would not do so without official support in Washington. Fed Vice Chair for Supervision Michael Barr said while officials are investigating a central bank digital currency (CBDC), the Fed was far from any decision. "Of course, investigation and research are very different from decision-making about next steps in terms of payments system development, and we are a long way from that." Barr's comments echo those of Fed Chair Jerome Powell, who also has said the Fed would not move to issue a digital currency without explicit authorization from Congress. It is important to get the legislative and regulatory framework right before significant risks emerge," he said.
Persons: Michael Barr, Evelyn Hockstein, Barr, Jerome Powell, Pete Schroeder, Hugh Lawson, Andrea Ricci Organizations: Banking, Housing, Urban Affairs Committee, Capitol, REUTERS, Rights, Federal, U.S ., Thomson Locations: Washington , U.S, Washington, Philadelphia
Morning Bid: Markets find feet after Apple topples
  + stars: | 2023-09-08 | by ( ) www.reuters.com   time to read: +4 min
People walk near an Apple logo outside its store in Shanghai, China September 8, 2023. The stock appeared to stabilize in out-of-hours trade on Friday and Morgan Stanley analysts claimed China's iPhone bans would at most hit Apple revenues by about 4%. The upshot was the rates market calmed a bit - with the odds on another Fed hike in the cycle falling back below 50% despite the red hot jobless claims readout. That helped Treasury yields <US10YT+RR> fall back too, aided by the stock market wobble and an oil price coming off the boil. The stock exchange there halted trading in both securities and derivatives markets due to a black rainstorm warning.
Persons: Aly, Mike Dolan, Apple sideswipe, Morgan Stanley, We've, John Williams, Austan Goolsbee, Lorie Logan, Michael Barr, Mary Daly, Andrew Cawthorne Organizations: Apple, REUTERS, Federal, Huawei, New, Fed, Chicago Fed, Dallas Fed, San Francisco Fed, Kroger Reuters Graphics Reuters, Reuters, Thomson Locations: Shanghai, China, U.S, India, Asia, Hong Kong, United States, New Delhi
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Persons: Dow Jones
The Chinese government recently approved several generative AI chatbots for public use. Baidu's new Ernie AI chatbot weighed in on the future of Taiwan. Zhipu, from shopping-platform Meituan, gave the best results, he said, though "all the Chinese bots have catching up to do." On Taiwan: When the reporter asked these AI bots whether Taiwan is a country, Ernie declared that a Chinese military takeover of Taiwan is possible, according to the report. When the reporter asked these AI bots whether Taiwan is a country, Ernie declared that a Chinese military takeover of Taiwan is possible, according to the report.
Persons: Ernie AI chatbot, Baidu's, Ernie, Baidu, SenseTime's SenseChat, Bytedance's, Zheping Huang, Tencent's, SenseTime, Xi Jinping Organizations: Bloomberg News, Morning, Baidu, Reuters, Bloomberg Locations: Taiwan, China
San Francisco remains firmly at the bottom of US rankings when it comes to office attendance. In San Francisco, it was 65 degrees fahrenheit. It's probably another reason why San Francisco remains firmly at the bottom of the rankings when it comes to office attendance by employees. Its report for July 2023 shows visits to office buildings in San Francisco are still almost 50% below 2019 levels. AdvertisementAdvertisementMore CEOs are keen to get employees back to the office now, including several leaders of tech companies in the San Francisco Bay Area.
Persons: It's, There's Organizations: Washington DC, Morning, San, San Francisco Bay Area Locations: San Francisco, Washington, Tokyo, Francisco's, Japan's, San Francisco Bay
Meta's and Apple's mixed-reality headsets could change how we work, but what would that look like? Meta has its lineup of Quest virtual-reality headsets, and Apple has its forthcoming $3,500 Vision Pro headset, with the company keeping its details under wraps. Several iterations later, the company is onto the Meta Quest 3, which is set to start at $500 and launch this fall. AdvertisementAdvertisementThe Apple Vision Pro headset could bring forth a new, more-virtual workplace. People audibly groaned and laughed when Apple announced the $3,500 price tag on its mixed-reality Vision Pro headset.
Persons: Meta, audibly groaned, Zuckerberg, Mark Zuckerberg's, Mark Zuckerberg, Alistair Barr, There's Organizations: Morning, Meta, Apple, Vision
AdvertisementAdvertisementAI is undermining the web's grand bargain, and a decades-old handshake agreement is the only thing standing in the way. Now, though, generative AI and large language models are changing the mission of web crawlers radically and rapidly. Without a supply of potential consumers, there's little incentive for content creators to let web crawlers continue to suck up free data online. It's also open to manipulation, especially given the voracious appetite for quality AI data. Because robots.txt is voluntary, web crawlers can also simply ignore the blocking instructions and siphon the information from a site anyway.
Persons: Microsoft's Bing, Joost de Valk, It's, de Valk, Nick Vincent, Valk, OpenAI, robots.txt, Jason Schultz, Catherine Stihler, Archie, NYU's Schultz, Steven Sinofsky, who's, Andreessen Horowitz, De Valk, Stihler Organizations: Big Tech, Google, Wordpress, NYU's Technology, Policy Clinic, AWS, Creative Commons, Creative, Microsoft, Nvidia, Star Wars, DC Comics, Warner Brothers, Marvel, Disney, Atlantic, Meta Locations: CCBot, EleutherAI
This month, serious AI researchers waded into this debate with 2 papers that seek to address various aspects of the situation. AdvertisementAdvertisementThe Harry Potter testThen the researchers went deep into the weeds, using J.K. Rowling's Harry Potter books to see if individual pieces of data influence AI model performance. The other datastore excluded all 7 Harry Potter books. Then they repeated the exercise, excluding the second Harry Potter book, then the third, and so on. Important legal benefitsHelping J.K. Rowling make even more money from her Harry Potter books was not the goal of the SILO study, though.
Persons: Nick Vincent, Vincent, what's, Benedict Evans, I've, I'm, Harry Potter, Rowling's Harry Potter, LLMs, there's, Rowling, Oren Etzoni, Etzioni Organizations: Morning, Simon Fraser University, University of Washington, UC Berkeley, Allen Institute, AI Locations: Vancouver, Google's, Seattle
Morning Bid: Quietly absorbing one more Fed hike
  + stars: | 2023-08-29 | by ( ) www.reuters.com   time to read: +5 min
A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. Early Tuesday, futures priced almost a two-thirds chance of that additional quarter-point move in November. And yet - perhaps with the uncertainty dissipating, the economy still robust and bond markets better priced - world markets appear to be taking the tighter odds in their stride. More impressively in the circumstances, restive bond markets calmed down and bond yields continued to dial back from their highest in over a decade last week. Asia bourses more widely and European indices were higher, while Wall St futures were flat ahead of the open.
Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, Gina Raimondo, China's, Idalia, Michael Barr, JM Smucker, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Atlanta, Overseas, U.S . Commerce, Garden Holdings, Wall, U.S, Dallas Fed, Federal, Treasury, HP, Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: New York, U.S, Washington, Beijing, China, HK, Asia, Florida's, Coast, Cuba
Atlanta CNN —Former White House chief of staff Mark Meadows rolled the dice on Monday with his opening move in the sprawling Fulton County election subversion trial: he took the stand himself. If the judge agrees, the trial could end up moving from state court to federal court, a more advantageous legal spot for Meadows. The former chief of staff also grew somewhat exasperated as the prosecutor questioned why his role would include setting up a call to settle private litigation. “There is a role for the chief of staff to make sure those campaign goals and objectives are implemented at the federal level,” Meadows argued. Meadows quipped, “I can’t imagine I would be chief of staff for President Biden.”
Persons: Mark Meadows, Meadows, Donald Trump, Joe Biden, Fani Willis, Trump, it’s, ” J, Tom Morgan, “ I’m, Jack, Steve Jones, Jones, Barack Obama, Monday’s, ” Jones, CNN Meadows, wasn’t, Willis, Brad Raffensperger, Trump’s, , ” Meadows, George Terwilliger, ” Terwilliger, John McEntee, William Barr, , Barr’s, Biden Organizations: Atlanta CNN — Former White House, White, Meadows, US, CNN, Georgia, Trump, Trump White House Locations: Fulton County, Meadows, Atlanta, DeKalb County , Georgia, Fulton, Cobb County , Georgia, United States, , Lafayette Park, Georgia
CNN —Afghanistan’s Band-e-Amir National Park was known for having employed the country’s first-ever female park rangers. Now, women won’t even be allowed to visit, let alone work there, as the Taliban deepens its repressive rule over the country. Heather Barr, associate director of the women’s rights at Human Rights Watch, said in a statement Monday that the ban shows how “the walls are closing in on women” within Afghanistan. Since re-taking control of the country in August 2021, amid the United States’ chaotic, controversial withdrawal, the Taliban has rolled back decades of progress on human rights. In Afghanistan, “there is no such thing as women’s freedom anymore,” Mahbouba Seraj, an Afghan women’s rights activist and 2023 Nobel Peace Prize nominee, said earlier this month.
Persons: CNN —, won’t, Mohammad Khalid Hanafi, Heather Barr, , Mahbouba, they’re, Richard Bennett, Dorothy Estrada, Tanck Organizations: CNN, Amir, USAID, United Nations Development, Human Rights, UN Locations: Bamiyan, , Afghanistan, States, , Afghan
SemiAnalysis, a respected research firm, just divided the tech world into 2 groups. You now actually have to have the tech components, other infrastructure, and a smart plan to deploy this incredibly expensive gear. The GPU-PoorPatel and Nishball divide the tech industry into 2 main groups: The "GPU-poor" and the "GPU-rich." Then there are well-known AI firms, such as Hugging Face, Databricks, and Together, that are also GPU-poor. The internet giant is "the Most Compute Rich Firm In The World," with "unbeatably efficient architecture," Patel and Nishall wrote.
Persons: you've, Dylan Patel, Daniel Nishball, Patel, Jules Verne, Rich Patel, Nishball, Elon Musk's, Nishall Organizations: Morning, Nvidia, Google, Meta Locations: Saudi Arabia, UAE
Morning Bid: Beijing tries new ways to lift moribund markets
  + stars: | 2023-08-28 | by ( ) www.reuters.com   time to read: +3 min
A look at the day ahead in European and global markets from Wayne ColeChinese blue chips were enjoying a rare rally on Monday after Beijing rolled out more measures to support the market. If sustained that would be the second-biggest daily gain this year, which just goes to show how moribund the market has been. Reuters GraphicsElsewhere, Wall Street stock futures are a shade firmer with the market seemingly relieved that Fed Chair Powell wasn't out-and-out hawkish. So the onus is on the data to show a cool-down, or risk another rate hike. A result like that would see markets again scale back the risk of another Fed hike and offer a much-needed lift to Treasuries, where two-year yields are threatening the year's top - and a major chart bulwark - at 5.12%.
Persons: Wayne Cole, China Evergrande, Gina Raimondo, Powell wasn't, Martin Floden, Fed's Michael Barr, Edmund Klamann Organizations: China, HK, . Commerce, Wall Street, Fed, Atlanta Fed, PMI, payrolls, JPMorgan, Thomson Locations: Wayne, Beijing, Atlanta, Hollywood
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