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Top stories today:
1. Google to announce PaLM 2 and multimodal Bard tomorrow
2. Tech earnings roundup: Palantir AI up, Covid, EVs, and lower margins down

0. Data and calendar

1. Google to announce PaLM 2 and multimodal Bard tomorrow

The materials to be presented at Google I/O tomorrow got leaked to CNBC:

• “PaLM 2 includes more than 100 languages and has been operating under the internal codename ‘Unified Language Model.’

  • It’s also performed a broad range of coding and math tests as well as creative writing tests and analysis.”

• Multimodal Bard: “The company has worked on a multimodal version called ‘Multi-Bard,’ which uses a larger data set and solves complex math and coding programs, according to separate documentation viewed by CNBC. The company has also tested versions called ‘Big Bard’ and ‘Giant Bard.’”

• AI for Workspace:

  • “Template generation in Sheets and image generation in its Slides and Meet products”

  • “Slides sidebar with a chat box that allowed a user to enter text with the option to “create” an image based on the words.”

• Google Lens: “The company will show advancements to “multi-search” for camera and voice, after last year allowing users to ask questions about what they’re viewing in images.” - CNBC

Our view: Google can catch up to OpenAI, but will it actually release products?

• Google has all it takes to catch up and compete effectively with OpenAI: the talent, the technology, the history — of note, Google researchers created (and patented) Transformers technology, the T in ChatGPT.

• The question is: will it actually release the best products? Google explicitly just released Bard, one of its smaller LLMs, and it was a total flop — of course, how could it compete with GPT-4, OpenAI's largest model?

  • It would be a game-changer if Google released this “Giant Bard.” We're certainly eager to try it and compare it with GPT-4.

2. Tech earnings roundup: Palantir AI up, Covid, EVs, and lower margins down

• BioNTech's profit plunges to $554M as Covid vaccine demand fades.

• Lucid misses on revenue, which jumps 159% to $149M.

• Palantir has strong earnings forecast on high demand for AI products.

• Paypal drops on worse guidance on operating margin; revenue +9% to $7B.

3. Tired of one-sided political news?*

• *SPONSORED: Tangle is an independent, non-partisan politics newsletter that summarizes the leading arguments from the right, left, and center on one big debate every day. Sign up for free to get a 360-degree political read. - Tangle

4. Tesla to provide 1-month free trial of Full Self Driving once service is “super smooth”

• Lithium refinery: Tesla also said its Texfinery will build battery metal for 1M cars by 2025. - Techcrunch

Our view: if Tesla can provide good updates at a distance, a hacker can provide bad updates

• Imagine malicious software that caused all Teslas to crash, rather than drive properly. With 2M cars sold, it could be a “Black Swan” event that kills millions.

  • This is true of any vehicle that can be updated or controlled by software from a distance. Scary stuff. - Techcrunch

5. Ranking: most trusted media organizations

• Republicans distrust the media more than Democrats across the board.

  • This might be why they are more prone to believing fake news (e.g., Covid vaccines have 5G chips).

  • Their view on CNN, MSNBC, and the NYT is fascinating, at between -30 and -40 net trust.

• Pro-tech pro-business WSJ is well up high, and we're glad to see it.

  • Bloomberg is shockingly in the middle — but that is likely explained by founder Michael Bloomberg being a controversial political figure.

6. Chart: Roundup of Big Tech's AI server chips

Read more: The Information.

7. Other headlines

Tech

• VicunaChat: possibly the best open-source version of ChatGPT.

• MultiModal-GPT: new paper on an open-source multimodal LLM.

• LinkedIn to cut 716 jobs, 3.5% of staff; shutting down China app.

• iPhone 16 Pro and Pro Max to feature larger 6.3-in and 6.9-in displays.

• Meta to end news content in Canada if “flawed legislation” is approved.

• AI emergent abilities are a mirage, actually linear: Stanford researchers.

• Twitter purging accounts with “several years” inactivity to free up usernames.

• Whatsapp allowing in-app payments for Singapore, after Brazil.

  • Potential to become a super-app, but so far has been slow.

Biotech

• EU: on the difficulties of launching new medicines across all 27 states.

• AI identifies 3 new antiaging senolytic drugs for Integrated Bio.

• IPOs: only 6 so far this year, compared to 19 in 2022.

• Epigenetic contribution to aging: proposing a model.

Business

• Yellen calls CEOs to warn on debt ceiling and ask for pressure on GOP.

• Saudi Aramco's profit -19% YoY to $31.9B in Q1.

• NYT to get $100M from Google over 3 years of content partnership.

• Biden to propose airline rule with compensation for cancellations, delays.

• Puck co-founder and CEO leaving. Company at 240K free subs / 30K paid.

• Goldman to pay $215M to end case of underpaying women.

Crypto

• Coinbase not leaving the U.S. despite regulations: CEO.

• SEC v. Ripple lawsuit to cost company $200M: CEO.

• SBF moves to dismiss most criminal charges, citing extradition agreement.

• Sam Altman's WorldCoin launches World App wallet; 500K MAUs.

• BTC tx fees larger than block subsidy, as BRC-20 explodes in demand.

• BRC-20 tokens have 900M in value; Ordi, a memecoin, $540M.

• Bittrex, U.S. crypto exchange, files for bankruptcy in Delaware.

• Apollo involved in NovaWulf's bid for Celsius: source.

• Blockchain Association calls for revisions to SEC custody rule.

• Family offices invested in crypto rise from 16% in 2021 to 26% now.

U.S. politics

• Georgia GOP Chairman: just following orders from Trump lawyers.

• Trump prohibited from posting evidence online in hush money case.

• McConnell on his 2024 strategy; 23 open Dem seats, just 11 GOP ones.

World

• Putin gives defiant, but short (10-min) speech in Victory Day parade.

• Russia continues to bomb Kherson.

• Kissinger predicts China involvement will lead to Ukraine peace by year-end.

• Israel kills 3 Gaza terrorist commanders in airstrikes.

8. Interesting tweets, memes, and images

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