Good Morning!

Happy Wednesday 🌞 

Today’s article is brought to you by: 100% human and 0% AI 

Market Update

📉 Markets rose Tuesday as February inflation came in at 6% and nerves calmed down from the shit-storm that was SVB.

🟢 🏦 First Republic Bank rose 30% after falling over 60% Monday on fears of another bank run stemming from SVB. Charles Schwab was also up 9.2%

🔴 United Airlines fell 5.5% as the company is forecasting a surprising Q1 loss.

Banger Tweet of the Day

Make sure to thank a VC today!

OpenAI Announces GPT-4

OpenAI, the company behind the infamous ChatGPT, just released the latest version of its large language model (LLM) GPT-4.

Watch out Lawyers: CEO Sam Altman said the LLM exhibits “human level performance” on many professional tests, scoring in the 90th percentile on the Bar exam, and the 93rd percentile on an SAT reading exam.

See its full scores here:

Get it Right: The model will also produce fewer incorrect answers or “hallucinations”, and “go off the rails” on forbidden topics less often.

The new model is available to chatGPT subscribers and can be accessed through their API.

Business Bytes

🎮️ Microsoft Signs Third Call of Duty Deal As It Seeks Approval To Buy Activision (WSJ)

• Microsoft reached a deal with cloud gaming company ‘Boosteroid’ to distribute Call of Duty.

• Microsoft agreed to purchase Activision last year for $75 billion, but regulators are attempting to block the deal on anti-competitive grounds.

• The company hopes to show they won’t make popular games exclusive to Xbox only, a key worry for regulators.

📉 February Inflation clocked in at 6%, down from 6.4% in January (CNBC)

• The inflation number was the lowest since September 2021 🤯 

• While we’re seeing consistent month-over-month declines, we’re still a long way from hitting the 2-3% target set by the Fed.

🍎 💵 Apple Reportedly Delaying Bonuses as the Company Cuts Costs (CNBC)

• Some bonuses expected in April won’t hit employee accounts until October.

• The company is also reducing travel & entertainment and slowing hiring.

🏢 Zuck Says Employees who Joined Meta In-Person Performed Better Than Those Who Joined Remote (Techcrunch)

• Mind you, this is the guy losing $15 billion a year to build the metaverse.

🪓 TikTok Mulls Splitting With ByteDance if US Proposal Fails (Reuters)

Google Punches Back with Integrated AI Tools

On the heels of OpenAI (whom Microsoft owns 49% of) announcing their new LLM, Google released a host of integrated AI tool throughout their Work products.

Google’s product announcement included a video where a lady asked AI to summarize a long Gmail chain, draft a response, draft up a brief in Google Docs based on the emails, then create a beautiful slide deck in Google Slides.

She literally did no work!

Use Google’s AI to get a head start on your writing:

Or turn notes into a formalized email:

My favorite features amongst the rollout:

• Draft, reply, & summarize in Gmail.

• Brainstorm, proofread, & write in Docs.

• Auto-generate images & video in Slides. Getting a first draft on a slide deck will be a huge time saver and great idea-generator.

More to come: Google promises to continue iterating on its AI workspace tools, and is leaning towards a focus on shipping products and getting user feedback.

The company is historically known for being slow to ship new products or make changes to existing products, they have to change that with the speed that AI moving at.

🤖 

Today’s Challenge: Get some sunlight as soon as possible.

Thanks for reading, go out and make today a great one ❤️‍🔥 

Much Love,

Andrew (and AI)