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Plus: AI Is Heating the Olympic Pool
Read time: 5 minutes
AI is taking Silicon Valley by storm?
Kids usually attend space, science, or soccer camps in the summer, but now some parents are sending their children to AI camps. The effort to teach kindergarteners “Advanced AI Robot Design & AR Coding” shows how far the excitement has spread.
What are on FIRE 🔥
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AI REPORT
📊 Cloud 100 Report: 2024's Record-Breaking List
Source: Bessemer Venture Partners
The 2024 Cloud 100 list by Bessemer, Forbes, and Salesforce Ventures shows record growth, with AI and fintech leading the charge.
Key Takeaways:
The Cloud 100 list value reached $820 billion, a 25% increase from last year.
AI companies drove a significant market cap jump of over $100 billion.
The average Cloud 100 company is now valued at $8.2 billion.
It took this year's Cloud 100 companies an average of 7.8 years to reach $100 million ARR.
97% of the companies are expected to reach $100 million ARR by the end of the year.
The top 10 companies represent $299 billion of equity value.
Why it matters: This year's Cloud 100 highlights the resilience and rapid growth of cloud companies, particularly in AI, amid economic challenges. The list's record valuation underscores the increasing value and impact of these private companies.
TODAY IN AI
AI HIGHLIGHTS
📱 ByteDance launches Jimeng AI video app, joining OpenAI's Sora rivals. TikTok parent enters the text-to-video market with subscriptions starting at 69 yuan monthly.
🤖 Five U.S. state officials urge Musk to fix X's AI chatbot Grok for spreading election misinformation.
👩🏫 Silicon Valley parents send kids as young as 5 to AI-focused summer camps. Teaching advanced AI concepts. Camps cost $600/week, with 30,000 children expected to participate this year.
📉 Magnificent Seven tech stocks set to lose $800 billion in value. Apple leads sell-off amid recession fears and Berkshire Hathaway halving its stake.
🚀 OpenAI co-founder John Schulman leaves for rival Anthropic. Greg Brockman takes extended leave. Peter Deng also exits. Only 3 of 11 original founders remain.
DAILY AI FUNDRAISING
ProRata.ai, a generative AI startup, raises $25M and partners with major media companies like Financial Times and Universal Music. The startup aims to fairly distribute revenue from AI chatbot subscriptions to content owners.
AI SOURCES FROM AI FIRE
Yes, time will tell, but if this program is successful, I believe we will have a much better AI model because the training data will be valuable, rather than being based on all content, including the trash.
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AI QUICK HITS
🔍 OpenAI creates watermark to detect ChatGPT content (Link)
🌊 AI Is Heating the Olympic Pool (Link)
🆕 Open AI: API now supports structured outputs with JSON Schemas (Link)
⚖️ Elon Musk sues OpenAI again for 'major deceit' (Link)
📹 Nvidia scrapes massive video data daily to train AI (Link)
📺 Google launches 4K TV streaming device with AI for under $100 (Link)
AI CHART
Foundational AI < AI Chatbots < AI Workflows < AI Agents
When AI agents can do a task, they do it for about 1/30th the cost of an average US worker with a bachelor’s degree.
AI agents will gradually replace tasks and then entire jobs.
What’s next?
Prediction: Skeptics will ignore the rise of AI because job numbers won’t change much at first, but those jobs will quickly disappear.
AI agents will handle 10% of tasks, then 30%, then 50%, and more.
Many people will become unemployable because they will be too expensive and slow compared to AI agents, who can do most things humans can.
Companies will record employees' work to train AI agents.
One worker will oversee 3 agents, then 10, and eventually, agents will manage themselves.
AI agents will work with humans who check their daily tasks on a dashboard. Humans will only need to look at it once a day.
Do you think companies should record employees' work to train AI agents? |
AI TUTORIAL
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You can turn any audio file into social media posts, blogs, Quora answers, business memos, technical papers, and more.
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