Top stories today:

1. Gemini Pro's API, Duet AI for developers, Imagen 2 launched
2. Fed changes tone, now exp. 75 bps in rate cuts in 2024
3. Google releases MusicFX, free text-to-sound AI
4. Alibaba demos virtual try-on AI with Outfit Anyone
5. Amazon launches Your Books

0. Data and calendar

1. Google launches Gemini Pro API, Duet AI for developers, Imagen 2

Gemini Pro is their 2nd best multimodal AI, with Gemini Ultra expected in early 2024

• Images and videos can be used as inputs to the model, similar to ChatGPT Plus.

• Gemini Pro's API is priced similarly to GPT 3.5 Turbo: $0.0005/1K characters, vs. $0.002/1K tokens. It is the same price assuming 1 token = 4 characters.

• Google is being very careful in releasing these AI models, favoring approved enterprise customers.

Duet AI for Developers is Google's version of Copilot, available for several IDEs

Imagen 2 is Google's new text-to-image AI model, available now for “customers on the allowlist”

• Google also launched MedLM, the new version of its medicine-focused LLM.

2. Fed changes to dovish tone, now expecting 75 bps in rate cuts in 2024

The FOMC's dot plot previously signaled 25 bps of cuts in 2024, in its Sep. 2023 estimate:

• Added a dovish “any” to the FOMC statement: “In determining the extent of any additional policy firming that may be appropriate to return inflation to 2 percent over time…”

• Rates kept steady at 5.25% - 5.50%, as expected.

4. Google releases MusicFX, free text-to-sound AI, which generates 30-second tunes

• Generates realistic audio overall, but does not allow references to real artists.

5. Alibaba demos virtual try-on AI with Outfit Anyone

• Demo, not release, suggests tech is not yet ready.

6. Amazon launches Your Books, personalized space for Kindle + Audible books

Discovery Mode gives you personalized book recommendations

• Of note, Amazon bought Goodreads in 2013 for a reported $150B.

7. 38% support TikTok federal ban, from 50% in Mar.; only 16% of users support ban

8. OpenAI announces 2nd batch of accelerator program, Converge 2

• $1M investment into 10-15 startups.

• 6-week program in San Francisco.

• Initial investments of the OpenAI Startup Fund include Descript, Harvey, Mem, and Speak.

9. iPhone leads in North America, Samsung in Europe, Latam

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10. Interesting videos, posts, and memes

11. Other headlines

AI

• Midjourney tests web version.

• Glean raising $200M+ at $2B, another AI startup to raise at 60+ P/S.

• OpenAI to pay Axel Springer for real time news access, after AP.

Tech

• ByteDance cancels next version of VR Headset Pico 5.

• Adobe's revenue +12% to $5.05B in Q4 FY23.

• Google's AI search tool could hit news traffic by 75%.

• Threads tests integration with Mastodon's ActivityPub protocol.

• Amazon invests in innovation center in Shenzhen to combat Shein, Temu.

• Etsy lays off 225 employees, 11% of staff.

• Roborock's S8 Pro Ultra: get $400 off the #1 robot vacuum.*

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• MindStudio: join a free webinar & learn to build AI applications with no code.*

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Tech & law

• Temu shes Shein in U.S. for alleged anticompetitive practices.

• New nuclear reactor approved by regulators for 1st time in 50 years.

• Starlink fails to get $885M subsidy for rural America coverage.

• Airbnb paying $621M to settle tax dispute in Italy.

• GM Cruise dismisses 9 execs after safety probe.

• EU likely to fine Apple for anti-Spotify practices.

Biotech

• Cholesterol-lowering therapies may treat colorectal tumor.

• “Morning people” may be explained by Neanderthal DNA.

• Pregnancy nausea, vomiting in 1st trimester linked to GDF15.

• Vertex pays $100M to license Editas’ gene-editing tech.

• Tirzepatide now available on Ro.

• Oprah reveals she's on weight loss medication.

Business

• Best-managed companies of 2023: Microsoft, Apple, NVIDIA, Alphabet.

• Berkshire buys another $590M of Occidental, going from 26% to 27%.

• Small colleges suffer with higher acceptance rates but lower yields.

Crypto

• FTX bankruptcy judge schedules hearing to resolve IRS dispute.

• 3AC co-founder Su Zhu questioned in Singapore court about collapse.

• Andalusia Labs raises $48M at $1B+ for risk management for crypto.

• Worldcoin adds integrations with Minecraft, Reddit, Telegram, Shopify.

U.S. politics

• $886B defense bill (+3% YoY) approved in Senate, 87-13.

• House GOP authorizes Biden impeachment inquiry.

• Trump's D.C. trial frozen by judge as immunity appeal ongoing.

• Supreme Court to review scope of obstruction law, could affect Trump.

World

• Putin vows to continue Ukraine war, goals “unchanged.”

• 70% of Palestinians support Oct. 7 attack: new poll.

  • Jake Sullivan arrives in Israel today for meeting with Netanyahu.

  • Hamas's political chief Haniyeh still wants to govern post-war.

• Hungary's new press law criticized by rights groups.

• WSJ reporter Gershkovich's detention extended until Jan. 30.

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