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The Center for Investigative Reporting Inc. v. OpenAI Court Filing, retrieved on June 27, 2024, is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This part is 10 of 18. DEFENDANTS’ ACTUAL AND CONSTRUCTIVE KNOWLEDGE OF THEIR VIOLATIONS 105. The OpenAI Defendants have acknowledged that use of copyright-protected works to train ChatGPT requires a license to that content. and, in some instances. Recognizing that obligation, the OpenAI Defendants have entered into agreements with large copyright owners such as Associated Press, the Atlantic, Axel Springer, Dotdash Meredith, Financial Times, News Corp, and Vox Media to obtain licenses to include those entities’ copyright-protected works in Defendants’ LLM training data. 106. The OpenAI Defendants are also in licensing talks with other copyright owners in the news industry, but have offered no compensation to Plaintiff. 107. In a May 29, 2024 interview, OpenAI’s Chief of Intellectual Property and Content, Tom Rubin, stated that these deals focus on “the display of news content and use of the tools and tech,” and are thus “largely not” about training.[15] This admission, while qualified, confirms that these deals involve training, at least in part. 108. The OpenAI Defendants created tools in late 2023 to allow copyright owners to block their work from being incorporated into training sets. This further corroborates that the OpenAI Defendants had reason to know that use of copyrighted material in their training sets is copyright infringement. 109. The creation of such tools also corroborates that the OpenAI Defendants had reason to know that their copyright infringement is enabled, facilitated, and concealed by their removal of author, title, copyright, and terms of use information from their training sets. 110. Defendants had reason to know that the removal of author, title, copyright notice, and terms of use information from copyright-protected works and their use in training ChatGPT would result in ChatGPT providing responses to ChatGPT users that abridged or regurgitated material verbatim from copyrighted works in creating responses to users, without revealing that those works were subject to Plaintiff’s copyrights. This is at least because Defendants were aware that ChatGPT responses are the product of its training sets and that ChatGPT generally would not know any author, title, copyright notice, and terms of use information that was not included in training sets. 111. Upon information and belief, Defendants had reason to know that the removal of author, copyright notice, and terms of use information from copyright-protected works used in synthetic searching would result in ChatGPT or Copilot providing responses to ChatGPT users that abridged or regurgitated material verbatim from copyrighted works in creating responses to users, without revealing that those works were subject to Plaintiff’s copyrights. This is at least because Defendants were aware that Copilot’s and later versions of ChatGPT’s responses to prompts are the product of the articles encoded in their computer memory, from which, upon information and belief, Defendants removed author, copyright notice, and terms of use information. 112. Defendants had reason to know that users of ChatGPT would further distribute the results of ChatGPT responses. This is at least because Defendants promote ChatGPT as a tool that can be used by a user to generate content for a further audience. 113. Defendants had reason to know that users of ChatGPT would be less likely to distribute ChatGPT responses if they were made aware of the author, title, copyright notice, and terms of use information applicable to the material used to generate those responses. This is at least because Defendants were aware that at least some likely users of ChatGPT respect the copyrights of others or fear liability for copyright infringement. 114. Defendants had reason to know that ChatGPT would be less popular and would generate less revenue if users believed that ChatGPT responses violated third-party copyrights or if users were otherwise concerned about further distributing ChatGPT responses. This is at least because Defendants were aware that Defendants derive revenue from user subscriptions, that at least some likely users of ChatGPT respect the copyrights of others or fear liability for copyright infringement, and that such users would not pay to use a product that might result in copyright liability or did not respect the copyrights of others. 115. If a commercial user of Defendants’ ChatGPT and Copilot products is sued for copyright infringement, Defendants have committed to paying the user’s costs in defending against the infringement claim, and to indemnifying the user for an adverse judgment or settlement. These commitments apply only if the user uses the product as advertised. In particular, Microsoft’s “Copilot Copyright Commitment” applies only if the user “used the guardrails and content filters we have built into our products,”[16] and OpenAI’s “Copyright Shield” does not apply if the user “disabled, ignored, or did not use any relevant citation, filtering or safety features or restrictions provided by OpenAI.”[17] Thus, Defendants know or have reason to know that ChatGPT and Copilot users are capable of infringing and likely to infringe copyright even when used according to terms specified by Defendants. Continue Reading Here. About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings.
This court case retrieved on June 27, 2024, motherjones.com is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. [15] Charlotte Tobitt, OpenAI content boss: ‘Incumbent’ on us to help small publishers, not just the giants, PressGazette (May 30, 2024), https://pressgazette.co.uk/platforms/openai-tom-rubinpublishers-news/. [16] https://www.microsoft.com/en-us/licensing/news/microsoft-copilot-copyright-commitment. [17] https://openai.com/policies/service-terms/. The Center for Investigative Reporting Inc. v. OpenAI Court Filing, retrieved on June 27, 2024, is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This part is 10 of 18. The Center for Investigative Reporting Inc. v. OpenAI Court Filing, retrieved on June 27, 2024, is part of HackerNoon’s Legal PDF Series . You can jump to any part in this filing here . This part is 10 of 18. HackerNoon’s Legal PDF Series here DEFENDANTS’ ACTUAL AND CONSTRUCTIVE KNOWLEDGE OF THEIR VIOLATIONS 105. The OpenAI Defendants have acknowledged that use of copyright-protected works to train ChatGPT requires a license to that content. and, in some instances. Recognizing that obligation, the OpenAI Defendants have entered into agreements with large copyright owners such as Associated Press, the Atlantic, Axel Springer, Dotdash Meredith, Financial Times, News Corp, and Vox Media to obtain licenses to include those entities’ copyright-protected works in Defendants’ LLM training data. 106. The OpenAI Defendants are also in licensing talks with other copyright owners in the news industry, but have offered no compensation to Plaintiff. 107. In a May 29, 2024 interview, OpenAI’s Chief of Intellectual Property and Content, Tom Rubin, stated that these deals focus on “the display of news content and use of the tools and tech,” and are thus “largely not” about training.[15] This admission, while qualified, confirms that these deals involve training, at least in part. 108. The OpenAI Defendants created tools in late 2023 to allow copyright owners to block their work from being incorporated into training sets. This further corroborates that the OpenAI Defendants had reason to know that use of copyrighted material in their training sets is copyright infringement. 109. The creation of such tools also corroborates that the OpenAI Defendants had reason to know that their copyright infringement is enabled, facilitated, and concealed by their removal of author, title, copyright, and terms of use information from their training sets. 110. Defendants had reason to know that the removal of author, title, copyright notice, and terms of use information from copyright-protected works and their use in training ChatGPT would result in ChatGPT providing responses to ChatGPT users that abridged or regurgitated material verbatim from copyrighted works in creating responses to users, without revealing that those works were subject to Plaintiff’s copyrights. This is at least because Defendants were aware that ChatGPT responses are the product of its training sets and that ChatGPT generally would not know any author, title, copyright notice, and terms of use information that was not included in training sets. 111. Upon information and belief, Defendants had reason to know that the removal of author, copyright notice, and terms of use information from copyright-protected works used in synthetic searching would result in ChatGPT or Copilot providing responses to ChatGPT users that abridged or regurgitated material verbatim from copyrighted works in creating responses to users, without revealing that those works were subject to Plaintiff’s copyrights. This is at least because Defendants were aware that Copilot’s and later versions of ChatGPT’s responses to prompts are the product of the articles encoded in their computer memory, from which, upon information and belief, Defendants removed author, copyright notice, and terms of use information. 112. Defendants had reason to know that users of ChatGPT would further distribute the results of ChatGPT responses. This is at least because Defendants promote ChatGPT as a tool that can be used by a user to generate content for a further audience. 113. Defendants had reason to know that users of ChatGPT would be less likely to distribute ChatGPT responses if they were made aware of the author, title, copyright notice, and terms of use information applicable to the material used to generate those responses. This is at least because Defendants were aware that at least some likely users of ChatGPT respect the copyrights of others or fear liability for copyright infringement. 114. Defendants had reason to know that ChatGPT would be less popular and would generate less revenue if users believed that ChatGPT responses violated third-party copyrights or if users were otherwise concerned about further distributing ChatGPT responses. This is at least because Defendants were aware that Defendants derive revenue from user subscriptions, that at least some likely users of ChatGPT respect the copyrights of others or fear liability for copyright infringement, and that such users would not pay to use a product that might result in copyright liability or did not respect the copyrights of others. 115. If a commercial user of Defendants’ ChatGPT and Copilot products is sued for copyright infringement, Defendants have committed to paying the user’s costs in defending against the infringement claim, and to indemnifying the user for an adverse judgment or settlement. These commitments apply only if the user uses the product as advertised. In particular, Microsoft’s “Copilot Copyright Commitment” applies only if the user “used the guardrails and content filters we have built into our products,”[16] and OpenAI’s “Copyright Shield” does not apply if the user “disabled, ignored, or did not use any relevant citation, filtering or safety features or restrictions provided by OpenAI.”[17] Thus, Defendants know or have reason to know that ChatGPT and Copilot users are capable of infringing and likely to infringe copyright even when used according to terms specified by Defendants. Continue Reading Here. Continue Reading Here . Here About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on June 27, 2024, motherjones.com is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. About HackerNoon Legal PDF Series: We bring you the most important technical and insightful public domain court case filings. This court case retrieved on June 27, 2024, motherjones.com is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction. motherjones.com [15] Charlotte Tobitt, OpenAI content boss: ‘Incumbent’ on us to help small publishers, not just the giants, PressGazette (May 30, 2024), https://pressgazette.co.uk/platforms/openai-tom-rubinpublishers-news/. [16] https://www.microsoft.com/en-us/licensing/news/microsoft-copilot-copyright-commitment. [17] https://openai.com/policies/service-terms/.

Microsoft and OpenAI Accused of Copyright Theft

The landscape of digital search is undergoing a transformation with the arrival of SearchGPT, developed by OpenAI. This prototype will infuse the rich capabilities of artificial intelligence with real-time Web information to provide rapid and accurate answers that are rich in context. As we stand on the edge of this technological shift, it gives rise to a thought: will Googling soon be considered archaic, a "boomer" thing? A New Way to Search Search engines have been our friends when looking up information over the web. From simple inquiries to complex research, websites such as Google have been quite instrumental. However, all of this happens with the attitude of getting many search results, opening several sites, and then metabolizing information. It is time-consuming and, at times, irritating, especially when the required information is not easily accessible. Enter SearchGPT, a prototype whose mission was to make the searching process easier by utilizing the conversational power of AI models. Users will no longer need to go through a myriad of links or pages but rather be presented with direct answers that are full and well-sourced in a conversational tone, very much unlike the traditional methods of search. It promises an intuitive and efficient experience for users. The Context Conundrum in Traditional Search One of the major constraints of using traditional search engines, like Google, is that they rely on keywords to generate results. This technique is fine in, let’s say, research; however, most of the time, it misses the context necessary for answering the question. For example, if somebody is looking for a coding error or bug, they will always be presented with so many irrelevant answers that only have some keywords or syntax similarities. Imagine searching for some Python error, such as "IndexError: list index out of range." Conventional search engines might return results that include other kinds of IndexErrors or even errors in other programming languages because the keywords will fit. Such results may not solve the problem at hand. Here's where SearchGPT steps in with the conversational AI ability: it should understand what is wanted from the context. Instead of flooding users with keyword-matched results, it can interpret the specific problem and provide tailored, accurate solutions directly, accompanied by relevant sources. This contextual understanding marks a significant improvement over the aimless results of traditional search methods, ensuring that users spend less time filtering through irrelevant information and more time solving their actual problems. Designed to Give You an Answer SearchGPT's real breakthrough is in terms of quick, direct answers to user queries, which is achieved through a synthesis of the latest web information and the conversational abilities of AI. A user's ability to ask follow-up questions is very much like a conversation with a real person, which makes for a great experience during the search process. The context from the previous queries is shared, which makes the interaction seamless and coherent. Also, this method saves time and ensures that the information is accurate and reliable. SearchGPT keeps a record of all the sources through clear links, which makes it easy for users to check their reliability in case of any doubts related to the information. This speed, accuracy, and transparency may create a new benchmark for what everybody can expect from search engines. Partnering with Publishers and Creators One of the critical facets in the development of SearchGPT will be its ability to partner with publishers and content creators. All these years, search has been one of the most important channels for publishers to reach their audience. The recent entry of AI-powered search contributes to the new dynamic in this relationship. According to Nicholas Thompson, CEO of The Atlantic, it is hugely important to build AI search technology that is very considerate and protective toward journalism and publishers. In an effort to do so, SearchGPT makes a clear increase in the visibility—who.
Such a symbiotic relationship would ensure that high-quality content remains at the top, benefiting the users and content creators equally. It offers publishers the possibility of managing how their content will be displayed in SearchGPT. This shows a level of involvement that will guarantee balance in the ecosystem where technology and content will harmoniously coexist. The Feedback Loop SearchGPT is currently in its prototype stage and is used only by a small set of users and publishers for feedback. Of course, this iterative process will be very instrumental in fine-tuning the technology to really meet all the requirements and expectations of its users. According to News Corp Chief Executive Robert Thomson, what is really central in AI-driven search is the reliable information element. He requires that technology and content can live in harmony where provenance is protected and the very best quality information rises to its top place. What Comes Next SearchGPT is in its very early days of operation. OpenAI describes plans to expand the features, particularly to local information and commerce. That includes porting some of the best features from SearchGPT into ChatGPT so that more people will access advanced search functionalities. Those who want to be part of this new wave in search technology can apply to join SearchGPT's waitlist; while this prototype is still in its development stages, it may end up revolutionizing how people surf and interact with the web. Will Googling Become a Boomer Thing? Considering the amount of power SearchGPT can hold, there is no way we would not think about whether it is the end of googling in the old-school sense. While conventional search engines will not completely go to their graves, the ease and efficiency characteristic of AI-powered searching could grow into a preference for many. Faster and more accurate technologies will probably be adopted, especially by the young. After all, SearchGPT mimics the conversational nature of digital natives' communication style. As this group takes precedence, traditional search methods may indeed start to seem ancient. The value that traditional search engines hold, however, cannot be derogated. In indexing records and years and years of time advantage, they are unparalleled, as a user can drill deep into topics or cover the movement of opinions on a wide range of subjects. For many users attuned to current search paradigms, this granularity remains indispensable. Conclusion SearchGPT certainly marks the next quantum leap in search technology. Integrating AI's strengths with real-time web information is sure to provide a quicker, more transparent, and more interactive search experience. Traditional Googling will not die overnight, but such a potential shift toward AI-powered search will probably redefine expectations and habits over time. AI-powered and traditional methods of search have different strengths that are certainly not inherently mutually exclusive, and in fact, they can coexist to give users a wide array of tools in which to navigate the digital world. Whether Googling does become a "boomer" thing or not, undeniably, the future of search is heading toward exciting advancement. The landscape of digital search is undergoing a transformation with the arrival of SearchGPT, developed by OpenAI. This prototype will infuse the rich capabilities of artificial intelligence with real-time Web information to provide rapid and accurate answers that are rich in context. As we stand on the edge of this technological shift, it gives rise to a thought: will Googling soon be considered archaic, a "boomer" thing? A New Way to Search Search engines have been our friends when looking up information over the web. From simple inquiries to complex research, websites such as Google have been quite instrumental. However, all of this happens with the attitude of getting many search results, opening several sites, and then metabolizing information. It is time-consuming and, at times, irritating, especially when the required information is not easily accessible. Enter SearchGPT, a prototype whose mission was to make the searching process easier by utilizing the conversational power of AI models. Users will no longer need to go through a myriad of links or pages but rather be presented with direct answers that are full and well-sourced in a conversational tone, very much unlike the traditional methods of search. It promises an intuitive and efficient experience for users. The Context Conundrum in Traditional Search One of the major constraints of using traditional search engines, like Google, is that they rely on keywords to generate results. This technique is fine in, let’s say, research; however, most of the time, it misses the context necessary for answering the question. For example, if somebody is looking for a coding error or bug, they will always be presented with so many irrelevant answers that only have some keywords or syntax similarities. Imagine searching for some Python error, such as "IndexError: list index out of range." Conventional search engines might return results that include other kinds of IndexErrors or even errors in other programming languages because the keywords will fit. Such results may not solve the problem at hand. Here's where SearchGPT steps in with the conversational AI ability: it should understand what is wanted from the context. Instead of flooding users with keyword-matched results, it can interpret the specific problem and provide tailored, accurate solutions directly, accompanied by relevant sources. This contextual understanding marks a significant improvement over the aimless results of traditional search methods, ensuring that users spend less time filtering through irrelevant information and more time solving their actual problems. Designed to Give You an Answer SearchGPT's real breakthrough is in terms of quick, direct answers to user queries, which is achieved through a synthesis of the latest web information and the conversational abilities of AI. A user's ability to ask follow-up questions is very much like a conversation with a real person, which makes for a great experience during the search process. The context from the previous queries is shared, which makes the interaction seamless and coherent. Also, this method saves time and ensures that the information is accurate and reliable. SearchGPT keeps a record of all the sources through clear links, which makes it easy for users to check their reliability in case of any doubts related to the information. This speed, accuracy, and transparency may create a new benchmark for what everybody can expect from search engines. Partnering with Publishers and Creators One of the critical facets in the development of SearchGPT will be its ability to partner with publishers and content creators. All these years, search has been one of the most important channels for publishers to reach their audience. The recent entry of AI-powered search contributes to the new dynamic in this relationship. According to Nicholas Thompson, CEO of The Atlantic, it is hugely important to build AI search technology that is very considerate and protective toward journalism and publishers. In an effort to do so, SearchGPT makes a clear increase in the visibility—who.
Such a symbiotic relationship would ensure that high-quality content remains at the top, benefiting the users and content creators equally. It offers publishers the possibility of managing how their content will be displayed in SearchGPT. This shows a level of involvement that will guarantee balance in the ecosystem where technology and content will harmoniously coexist. The Feedback Loop SearchGPT is currently in its prototype stage and is used only by a small set of users and publishers for feedback. Of course, this iterative process will be very instrumental in fine-tuning the technology to really meet all the requirements and expectations of its users. According to News Corp Chief Executive Robert Thomson, what is really central in AI-driven search is the reliable information element. He requires that technology and content can live in harmony where provenance is protected and the very best quality information rises to its top place. What Comes Next SearchGPT is in its very early days of operation. OpenAI describes plans to expand the features, particularly to local information and commerce. That includes porting some of the best features from SearchGPT into ChatGPT so that more people will access advanced search functionalities. Those who want to be part of this new wave in search technology can apply to join SearchGPT's waitlist; while this prototype is still in its development stages, it may end up revolutionizing how people surf and interact with the web. Will Googling Become a Boomer Thing? Considering the amount of power SearchGPT can hold, there is no way we would not think about whether it is the end of googling in the old-school sense. While conventional search engines will not completely go to their graves, the ease and efficiency characteristic of AI-powered searching could grow into a preference for many. Faster and more accurate technologies will probably be adopted, especially by the young. After all, SearchGPT mimics the conversational nature of digital natives' communication style. As this group takes precedence, traditional search methods may indeed start to seem ancient. The value that traditional search engines hold, however, cannot be derogated. In indexing records and years and years of time advantage, they are unparalleled, as a user can drill deep into topics or cover the movement of opinions on a wide range of subjects. For many users attuned to current search paradigms, this granularity remains indispensable. Conclusion SearchGPT certainly marks the next quantum leap in search technology. Integrating AI's strengths with real-time web information is sure to provide a quicker, more transparent, and more interactive search experience. Traditional Googling will not die overnight, but such a potential shift toward AI-powered search will probably redefine expectations and habits over time. AI-powered and traditional methods of search have different strengths that are certainly not inherently mutually exclusive, and in fact, they can coexist to give users a wide array of tools in which to navigate the digital world. Whether Googling does become a "boomer" thing or not, undeniably, the future of search is heading toward exciting advancement.

SearchGPT: Will Googling Become a Boomer Thing to Do?

Apple swung for the fences by trying to reclaim AI as “Apple Intelligence” at its __annual WWDC __on June 10. I don’t know if the company will succeed with the branding play, but I do know that OpenAI hit a home run on Apple’s turf. That’s because Apple’s Siri voice assistant is getting a lifeline from OpenAI’s ChatGPT.At WWDC, Apple __announced __that the company is partnering with OpenAI to allow Siri to supplement its responses with information from ChatGPT’s knowledge base after obtaining user consent. This will be effective with the rollout of iOS 18.In addition, Siri is getting a number of major AI upgrades. For instance, Siri now has better contextual awareness, allowing it to link commands and understand the context of queries better based on what’s displayed on the screen and the user’s personal data. Siri can assist with writing tasks like emails, documents, and messages by offering proofreading, rewriting suggestions, tone adjustments, and smart reply options. Siri and OpenAI For certain complex Siri requests, Apple will prompt users to connect with ChatGPT for more complete responses. Additionally, Apple is integrating ChatGPT with other areas of the operating system, such as text composition assistance. (According to  Apple, users will have control over when and if they choose to use ChatGPT.) For example, if a user asks Siri, “Can you summarize the latest research on climate change and its economic impacts?” Siri might recognize that this request requires a more detailed and nuanced response. Instead of providing a brief or potentially insufficient answer, Siri will prompt the user to connect with ChatGPT for a more comprehensive response. Siri will analyze the complexity of the query. If it falls beyond the scope of standard pre-programmed responses, Siri will suggest, “Would you like to get a detailed answer from ChatGPT?” Or let’s say that a user needs to respond to a complex message. They might say, “Siri, help me reply to this message explaining our new product features.” ChatGPT can draft a response that is detailed and tailored to the specific context. Within the Messages app, Siri can invoke ChatGPT to generate responses that are contextually accurate and linguistically refined. Users can review and modify these responses before sending them. The integration extends beyond text-based interactions. If you ask Siri a question about a photo, document, or PDF, it can now connect to ChatGPT to analyze and provide relevant information. For example, you could take a picture of a plant and ask Siri to identify it or point to a paragraph in a document and ask for a summary. The development is part of the larger roll-out of “Apple Intelligence,” a comprehensive software update for its devices that promises to deliver a personalized generative artificial intelligence experience to users. (Oh -- and did someone say, “obvious branding play for Apple”?) Why the Apple/OpenAI Relationship Matters This is all important because the more conversational AI becomes, the more AI can help people solve complex problems more naturally beyond the prompt-and-response format we use with text. (It’s worth noting that the latest version of OpenAI’s ChatGPT generative AI tool is incorporating a voice-based interface, too.) For example, consider contextual understanding. Natural conversation allows AI to maintain context over multiple turns, understanding the nuances and references made earlier in the conversation. This leads to more coherent and relevant interactions. AI can provide personalized responses by remembering user preferences and previous interactions, creating a tailored experience. Or consider complex query handling. A conversational AI can break down complex problems into manageable parts and provide step-by-step guidance. This is particularly useful in areas like technical support, planning, and learning. Users can ask follow-up questions, request clarifications, and refine their queries on the go, leading to more accurate and satisfactory outcomes. Ironically, making generative AI more conversational is what voice search was supposed to be doing all along. Natural conversation eliminates the need for rigid commands or specific prompts, making technology more accessible and intuitive for everyone, regardless of technical expertise. Natural conversation with AI could bridge the gap between humans and machines, making AI a more organic part of our lives to the point where we won’t be writing articles like this one that examine the mechanics of how we collaborate with generative AI. When that happens, AI achieves an essential milestone: being pervasive and transparent. OpenAI’s Ecosystem Generative AI has gained immense popularity, largely due to how OpenAI has effectively built its brand around this technology. But the company has stumbled at times with its business relationships. Content creators, news sources, and entertainment brands have accused the company of exploiting their content to train ChatGPT. OpenAI cannot build a brand by burning bridges any more than Apple could succeed by isolating the iPhone from developers and partners, which, of course, it did not. However, OpenAI has recently been extending its reach through better partnerships. In May, OpenAI and Reddit announced a partnership involving data access and AI-powered feature collaboration, with OpenAI also becoming a Reddit advertising partner. This enables OpenAI to use Reddit’s platform and user base for targeted advertising. The same month, OpenAI and News Corp. revealed a multi-year agreement allowing OpenAI to display content from News Corp.-owned outlets within its ChatGPT chatbot. This was followed by partnerships with Vox Media and The Atlantic. Additionally, PwC has become the largest customer and first reseller of OpenAI’s enterprise product, ChatGPT Enterprise, solidifying OpenAI’s presence in the workplace. The race to dominate the generative AI market hinges on the strength of ecosystems. Brands with ecosystems become pervasive, and when a brand is pervasive, it becomes a more natural part of our lives, as Apple’s iOS has. The relationship with Apple has potential concerns about conflicts because of OpenAI’s own developments in voice technology for ChatGPT. But OpenAI’s voice integration for ChatGPT and its collaboration with Apple can be seen as distinct, if overlapping, product offerings. The Siri integration could be tailored specifically for Apple’s ecosystem, using ChatGPT’s capabilities in a way that aligns with Siri’s existing functions and Apple’s privacy standards. Meanwhile, OpenAI can continue to develop and enhance its own ChatGPT voice features independently.Siri, which follows Google Assistant and Amazon Alexa in popularity, now enjoys the brand cachet of ChatGPT. Bottom line: Apple needed to play catch-up with AI. The company just got some instant offense from OpenAI. Apple swung for the fences by trying to reclaim AI as “Apple Intelligence” at its __ annual WWDC __on June 10. I don’t know if the company will succeed with the branding play, but I do know that OpenAI hit a home run on Apple’s turf. That’s because Apple’s Siri voice assistant is getting a lifeline from OpenAI’s ChatGPT. At WWDC, Apple __ announced __that the company is partnering with OpenAI to allow Siri to supplement its responses with information from ChatGPT’s knowledge base after obtaining user consent. This will be effective with the rollout of iOS 18. In addition, Siri is getting a number of major AI upgrades. For instance, Siri now has better contextual awareness, allowing it to link commands and understand the context of queries better based on what’s displayed on the screen and the user’s personal data. Siri can assist with writing tasks like emails, documents, and messages by offering proofreading, rewriting suggestions, tone adjustments, and smart reply options. annual WWDC announced Siri and OpenAI For certain complex Siri requests, Apple will prompt users to connect with ChatGPT for more complete responses. Additionally, Apple is integrating ChatGPT with other areas of the operating system, such as text composition assistance. (According to  Apple, users will have control over when and if they choose to use ChatGPT.) For example, if a user asks Siri, “Can you summarize the latest research on climate change and its economic impacts?” Siri might recognize that this request requires a more detailed and nuanced response. Instead of providing a brief or potentially insufficient answer, Siri will prompt the user to connect with ChatGPT for a more comprehensive response. Siri will analyze the complexity of the query. If it falls beyond the scope of standard pre-programmed responses, Siri will suggest, “Would you like to get a detailed answer from ChatGPT?” Or let’s say that a user needs to respond to a complex message. They might say, “Siri, help me reply to this message explaining our new product features.” ChatGPT can draft a response that is detailed and tailored to the specific context. Within the Messages app, Siri can invoke ChatGPT to generate responses that are contextually accurate and linguistically refined. Users can review and modify these responses before sending them. The integration extends beyond text-based interactions. If you ask Siri a question about a photo, document, or PDF, it can now connect to ChatGPT to analyze and provide relevant information. For example, you could take a picture of a plant and ask Siri to identify it or point to a paragraph in a document and ask for a summary. The development is part of the larger roll-out of “Apple Intelligence,” a comprehensive software update for its devices that promises to deliver a personalized generative artificial intelligence experience to users. (Oh -- and did someone say, “obvious branding play for Apple”?) Why the Apple/OpenAI Relationship Matters This is all important because the more conversational AI becomes, the more AI can help people solve complex problems more naturally beyond the prompt-and-response format we use with text. (It’s worth noting that the latest version of OpenAI’s ChatGPT generative AI tool is incorporating a voice-based interface, too.) For example, consider contextual understanding. Natural conversation allows AI to maintain context over multiple turns, understanding the nuances and references made earlier in the conversation. This leads to more coherent and relevant interactions. AI can provide personalized responses by remembering user preferences and previous interactions, creating a tailored experience. Or consider complex query handling. A conversational AI can break down complex problems into manageable parts and provide step-by-step guidance. This is particularly useful in areas like technical support, planning, and learning. Users can ask follow-up questions, request clarifications, and refine their queries on the go, leading to more accurate and satisfactory outcomes. Ironically, making generative AI more conversational is what voice search was supposed to be doing all along. Natural conversation eliminates the need for rigid commands or specific prompts, making technology more accessible and intuitive for everyone, regardless of technical expertise. Natural conversation with AI could bridge the gap between humans and machines, making AI a more organic part of our lives to the point where we won’t be writing articles like this one that examine the mechanics of how we collaborate with generative AI. When that happens, AI achieves an essential milestone: being pervasive and transparent. OpenAI’s Ecosystem OpenAI’s Ecosystem Generative AI has gained immense popularity, largely due to how OpenAI has effectively built its brand around this technology. But the company has stumbled at times with its business relationships. Content creators, news sources, and entertainment brands have accused the company of exploiting their content to train ChatGPT. OpenAI cannot build a brand by burning bridges any more than Apple could succeed by isolating the iPhone from developers and partners, which, of course, it did not. However, OpenAI has recently been extending its reach through better partnerships. In May, OpenAI and Reddit announced a partnership involving data access and AI-powered feature collaboration, with OpenAI also becoming a Reddit advertising partner. This enables OpenAI to use Reddit’s platform and user base for targeted advertising. The same month, OpenAI and News Corp. revealed a multi-year agreement allowing OpenAI to display content from News Corp.-owned outlets within its ChatGPT chatbot. This was followed by partnerships with Vox Media and The Atlantic. Additionally, PwC has become the largest customer and first reseller of OpenAI’s enterprise product, ChatGPT Enterprise, solidifying OpenAI’s presence in the workplace. The race to dominate the generative AI market hinges on the strength of ecosystems. Brands with ecosystems become pervasive, and when a brand is pervasive, it becomes a more natural part of our lives, as Apple’s iOS has. The relationship with Apple has potential concerns about conflicts because of OpenAI’s own developments in voice technology for ChatGPT. But OpenAI’s voice integration for ChatGPT and its collaboration with Apple can be seen as distinct, if overlapping, product offerings. The Siri integration could be tailored specifically for Apple’s ecosystem, using ChatGPT’s capabilities in a way that aligns with Siri’s existing functions and Apple’s privacy standards. Meanwhile, OpenAI can continue to develop and enhance its own ChatGPT voice features independently. Siri, which follows Google Assistant and Amazon Alexa in popularity, now enjoys the brand cachet of ChatGPT. Bottom line : Apple needed to play catch-up with AI. The company just got some instant offense from OpenAI. Bottom line

Why OpenAI Stole the Show at Apple’s WWDC 2024

Nvidia has caught lightning in a bottle, and boy, is it making the company filthy rich. Investors eagerly awaiting the company's quarterly results were not disappointed after Nvidia said its sales had more than doubled and its profit was up sevenfold, propelling its valuation to record highs. Nvidia generated $26.04 billion in Q1 revenue, up 262% year over year, while net income of $14.88 billion was a jump of 628% from the $2.04 billion the company had posted in the same quarter last year. The company also said it was increasing its cash dividend by 150% to $0.10 per share. "The next industrial revolution has begun," declared Nvidia founder and Chief Executive Jensen Huang. Indeed, it has. Next quarter, Nvidia plans to generate even more in sales: $28 billion, plus or minus 2%. The kicker? The forecast was above what analysts thought the company would be able to generate: $26.66 billion. Nvidia is basing its revenue forecast on the success of the recently announced Blackwell class of AI chips, which are due to begin shipments this quarter. The company already believes that demand will outstrip supply. "We are poised for our next wave of growth. The Blackwell platform is in full production," Huang said. With so much positive news, it's no wonder the company's stock has hit a record high and crossed the $1,000 a share threshold. At this point, Nvidia's stock is so influential that it helped the technology-driven Nasdaq Composite Index to reach a record high! But that's not all; with yet another jump in the company's stock price, Nvidia is slowly inching towards a market capitalization of $3 trillion — only months after it became a $2 trillion company. The only other company valued at above $3 trillion is Microsoft, but the Windows maker did not achieve that milestone as quickly as Nvidia is. "This still doesn't feel like bubble territory," Derren Nathan, head of equity analysis at Hargreaves Lansdown, told Reuters. There is so much interest in Nvidia stock that the company has decided to make it easier for investors to own a piece of the pie. In its earnings announcement, Nvidia said it would be breaking down its shares at a ratio of 10-for-1 to make stock ownership "more accessible to employees and investors." What a great time to be Nvidia. Sponsored Content: Cash is king 👑 Not long ago, investors were chasing rocketship startups in hopes of a huge payday. Boy, how times have changed. Those overvalued, buzzy startups just aren't as attractive anymore. You know what's cool? Undervalued companies that earn real profit.WebStreet finds these companies, acquires them, improves them, and sells them. (And lets you invest) They buy overlooked businesses already earning money
They improve operations, so they make even more money
They bundle everything into a single, powerful fund that you can invest in. It's like micro private equity on autopilot. Unlike a lot of startups, WebStreet is doing great. Are you an accredited investor looking for passive income and want to invest in businesses providing real value? Join WebStreet’s Waitlist Here. Former OpenAI Employee Spills the Beans on Sam Altman Ouster 🤯 Sam Altman concealed the existence of ChatGPT from OpenAI's board. That's coming from former board member Helen Toner, who recently said in a podcast that Altman had a history of withholding information and lying to its members. The Microsoft-backed startup, which kickstarted the generative AI boom in 2022, went through its share of drama after the release of ChatGPT. Apparently, the OpenAI board only found out about the chatbot's existence after it became public on X, formerly Twitter. "After years of these kinds of things, all four of us who fired him came to the conclusion that we just couldn't believe things that Sam was telling us," Toner said. Worryingly, Sam also apparently gave the board inaccurate information on the safety processes for AI. All of this boiled over into the board deciding to kick Sam out, only for him to return just a few days later with Microsoft's blessing and kicking out the same people who fired him. "We are disappointed that Miss Toner continues to revisit these issues," OpenAI board chair Bret Taylor told the host of the podcast where Toner appeared. Meanwhile, on the safety front, OpenAI said it had formed a committee that would deliver recommendations on "critical safety and security decisions for OpenAI projects and operations." Altman will serve on the three-member board. For their first task, the OpenAI Safety and Security Committee will "evaluate and further develop OpenAI’s processes and safeguards over the next 90 days," the startup said in a statement. Despite the serious allegations, neither OpenAI nor Altman seem to be going anywhere. In fact, the company continues to partner with industry heavyweights such as News Corp to train its popular chatbot while attracting the likes of PwC to resell the enterprise version of ChatGPT. That is some serious backing. In Other News.. 📰 BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale — via CoinDesk
AI models have favorite numbers because they think they’re people — via TechCrunch
Prisoners are using VR to prepare them for life after release — via CNN
US court to hear challenges to potential TikTok ban in September — via Reuters
Sam Altman is starting to look a lot like Mark Zuckerberg — via Axios
China’s $47.5 billion chip fund will likely focus on AI amid U.S. export curbs — via CNBC And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's Tech Company Rankings page. Tech, What the Heck!? is a once-weekly newsletter written by HackerNoon editors that combine HackerNoon's proprietary data with news-worthy tech stories from around the internet. Humorous and insightful, the newsletter recaps trending events that are shaping the world of tech. Subscribe here. Nvidia has caught lightning in a bottle, and boy, is it making the company filthy rich. Nvidia Nvidia Investors eagerly awaiting the company's quarterly results were not disappointed after Nvidia said its sales had more than doubled and its profit was up sevenfold , propelling its valuation to record highs. quarterly results quarterly results sevenfold Nvidia generated $26.04 billion in Q1 revenue, up 262% year over year, while net income of $14.88 billion was a jump of 628% from the $2.04 billion the company had posted in the same quarter last year. The company also said it was increasing its cash dividend by 150% to $0.10 per share. also "The next industrial revolution has begun," declared Nvidia founder and Chief Executive Jensen Huang. Indeed, it has. Next quarter, Nvidia plans to generate even more in sales: $28 billion, plus or minus 2%. The kicker? The forecast was above what analysts thought the company would be able to generate: $26.66 billion . more $26.66 billion $26.66 billion Nvidia is basing its revenue forecast on the success of the recently announced Blackwell class of AI chips, which are due to begin shipments this quarter. The company already believes that demand will outstrip supply. recently announced recently announced "We are poised for our next wave of growth. The Blackwell platform is in full production," Huang said. With so much positive news, it's no wonder the company's stock has hit a record high and crossed the $1,000 a share threshold. At this point, Nvidia's stock is so influential that it helped the technology-driven Nasdaq Composite Index to reach a record high! record high record high so influential so influential But that's not all; with yet another jump in the company's stock price, Nvidia is slowly inching towards a market capitalization of $3 trillion — only months after it became a $2 trillion company. inching towards inching towards $2 trillion $2 trillion The only other company valued at above $3 trillion is Microsoft , but the Windows maker did not achieve that milestone as quickly as Nvidia is. Microsoft Microsoft "This still doesn't feel like bubble territory," Derren Nathan, head of equity analysis at Hargreaves Lansdown, told Reuters. told told There is so much interest in Nvidia stock that the company has decided to make it easier for investors to own a piece of the pie. In its earnings announcement, Nvidia said it would be breaking down its shares at a ratio of 10-for-1 to make stock ownership "more accessible to employees and investors." What a great time to be Nvidia. Sponsored Content: Sponsored Content: Cash is king 👑 Cash is king 👑 Not long ago, investors were chasing rocketship startups in hopes of a huge payday. Boy, how times have changed. Those overvalued, buzzy startups just aren't as attractive anymore. You know what's cool? Undervalued companies that earn real profit.WebStreet finds these companies, acquires them, improves them, and sells them. (And lets you invest) They buy overlooked businesses already earning money They improve operations, so they make even more money They bundle everything into a single, powerful fund that you can invest in. It's like micro private equity on autopilot. They buy overlooked businesses already earning money They improve operations, so they make even more money They bundle everything into a single, powerful fund that you can invest in. It's like micro private equity on autopilot. Unlike a lot of startups, WebStreet is doing great. Are you an accredited investor looking for passive income and want to invest in businesses providing real value? Join WebStreet’s Waitlist Here . Join WebStreet’s Waitlist Here Former OpenAI Employee Spills the Beans on Sam Altman Ouster 🤯 Former OpenAI Employee Spills the Beans on Sam Altman Ouster 🤯 Sam Altman concealed the existence of ChatGPT from OpenAI's board. That's coming from former board member Helen Toner, who recently said in a podcast that Altman had a history of withholding information and lying to its members. recently said in a podcast recently said in a podcast The Microsoft -backed startup, which kickstarted the generative AI boom in 2022, went through its share of drama after the release of ChatGPT. Apparently, the OpenAI board only found out about the chatbot's existence after it became public on X, formerly Twitter. Microsoft Microsoft "After years of these kinds of things, all four of us who fired him came to the conclusion that we just couldn't believe things that Sam was telling us," Toner said. Worryingly, Sam also apparently gave the board inaccurate information on the safety processes for AI. All of this boiled over into the board deciding to kick Sam out, only for him to return just a few days later with Microsoft's blessing and kicking out the same people who fired him. kicking out kicking out "We are disappointed that Miss Toner continues to revisit these issues," OpenAI board chair Bret Taylor told the host of the podcast where Toner appeared. told told Meanwhile, on the safety front, OpenAI said it had formed a committee that would deliver recommendations on "critical safety and security decisions for OpenAI projects and operations." Altman will serve on the three-member board. For their first task, the OpenAI Safety and Security Committee will "evaluate and further develop OpenAI’s processes and safeguards over the next 90 days," the startup said in a statement . statement statement Despite the serious allegations, neither OpenAI nor Altman seem to be going anywhere. In fact, the company continues to partner with industry heavyweights such as News Corp to train its popular chatbot while attracting the likes of PwC to resell the enterprise version of ChatGPT. News Corp News Corp resell resell That is some serious backing. In Other News.. 📰 In Other News.. 📰 BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale — via CoinDesk AI models have favorite numbers because they think they’re people — via TechCrunch Prisoners are using VR to prepare them for life after release — via CNN US court to hear challenges to potential TikTok ban in September — via Reuters Sam Altman is starting to look a lot like Mark Zuckerberg — via Axios China’s $47.5 billion chip fund will likely focus on AI amid U.S. export curbs — via CNBC BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale — via CoinDesk CoinDesk CoinDesk AI models have favorite numbers because they think they’re people — via TechCrunch TechCrunch TechCrunch Prisoners are using VR to prepare them for life after release — via CNN CNN CNN US court to hear challenges to potential TikTok ban in September — via Reuters Reuters Reuters Sam Altman is starting to look a lot like Mark Zuckerberg — via Axios Axios Axios China’s $47.5 billion chip fund will likely focus on AI amid U.S. export curbs — via CNBC CNBC CNBC And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan , Editor, Business Tech @ HackerNoon Sheharyar Khan Sheharyar Khan *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's Tech Company Rankings page. *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's Tech Company Rankings page. *All rankings are current as of Monday. To see how the rankings have changed, please visit HackerNoon's Tech Company Rankings page. Tech Company Rankings Tech Company Rankings Tech, What the Heck!? is a once-weekly newsletter written by HackerNoon editors that combine HackerNoon's proprietary data with news-worthy tech stories from around the internet. Humorous and insightful, the newsletter recaps trending events that are shaping the world of tech. Subscribe here. Tech, What the Heck!? is a once-weekly newsletter written by HackerNoon editors that combine HackerNoon's proprietary data with news-worthy tech stories from around the internet. Humorous and insightful, the newsletter recaps trending events that are shaping the world of tech. Subscribe here. Tech, What the Heck!? is a once-weekly newsletter written by HackerNoon editors that combine HackerNoon's proprietary data with news-worthy tech stories from around the internet. Humorous and insightful, the newsletter recaps trending events that are shaping the world of tech. Subscribe here. Tech, What the Heck!? is a once-weekly newsletter written by HackerNoon editors that combine HackerNoon's proprietary data with news-worthy tech stories from around the internet. Humorous and insightful, the newsletter recaps trending events that are shaping the world of tech. Subscribe here . here here

Nvidia Just Became a Whole Lot More Valuable

এনভিডিয়া সবেমাত্র অনেক বেশি মূল্যবান হয়ে উঠেছে

Nvidia ist gerade um einiges wertvoller geworden

Nvidia acaba de volverse mucho más valiosa

Nvidia est devenu beaucoup plus précieux

एनवीडिया अब और भी अधिक मूल्यवान हो गया है

Nvidiaの価値がさらに高まった

Nvidia는 훨씬 더 가치 있게 되었습니다.

Nvidia acaba de se tornar muito mais valiosa

Nvidia стала намного более ценной

Nvidia Artık Çok Daha Değerli Hale Geldi

Nvidia vừa trở nên có giá trị hơn rất nhiều

Nvidia 的价值大幅提升

Crypto bros, rejoice! 2024 might as well be renamed the year of the crypto now that the US Securities and Exchange Commission has opened the floodgates into crypto investment with the approval of a spot bitcoin exchange traded fund, causing the world's most popular cryptocurrency to hit the highest it has ever been since April 2022. And it's not even the end of January! The approval of the ETF, which had been a hot topic for years and had recently picked up steam after the likes of Blackrock and Grayscale had knocked again on the US SEC's door seeking its nod, is now being described as a watershed moment for bitcoin and cryptocurrencies as a whole. But the writing was on the wall though. In fact, a recent poll conducted by betting platform Polymarket showed the odds in favor of a bitcoin ETF being approved by the US Securities and Exchange Commission by the 15th. According to a CoinDesk report, an overwhelming 85% of market participants believed the ETF could be approved later this month. Meanwhile, the good folks at Bloomberg, (yes, Bloomberg!), had pegged the chances at over 90%! At HackerNoon, however, readers were a lot more pessimistic as only 46% thought such a thing would be possible while another 31% thought it might happen, just not this month. HackerNoon CEO David Smooke was one of the beliebers believers (unlike *some*HackerNoon editors). Now that the ETF is approved, it does raise some questions about exactly how valuable bitcoins and/or cryptocurrencies actually are. Most will tell you that the magical $100,000 number is now in sight, and while that may or may not happen, there are the likes of data provider CryptoQuant which had previously warned that the ETF approval would trigger a sell off. As of publication, it doesn't look like bitcoin has actually gone past the $50,000 mark, but that's no reason for the hodlers and diamond hands to worry as optimism surrounding cryptocurrencies persists, with more and more people pointing at a flurry of events to drive home the fact that maybe, just maybe, cryptocurrencies will finally live up to their promise (whatever they might be). And so, it just might be: 2024, The Year of the Crypto™. 👋 You’re reading HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Subscribe here to receive the complete newsletter in your inbox every Tuesday. Microsoft, OpenAI Hit With Copyright Lawsuits Ah. What edition of HackerNoon's Tech Company News Brief be complete without a mention of artificial intelligence? I mean, if it's not crypto, it's definitely AI. Well, it looks like Microsoft and OpenAI are getting into trouble for profiteering off of other peoples' work by building AI products using content available on the internet. The big one, in case you missed it, was this lawsuit the New York Times filed against Microsoft and OpenAI for allegedly copying and using millions of its works to build generative artificial intelligence tools that rely on so-called large-language models. But funnily, while the NYT is taking the lawsuit route now, it had been in negotiations with OpenAI on licensing its content. For one reason or the other (maybe it was the money?) negotiations fell through, and the NYT decided to file a lawsuit. But while that plays out in court, the NYT itself reported that other large US media organizations are already in talks with the companies to license their work. We're talking about the likes of Gannett, News Corp and IAC, who are deciding the pricing and terms of licensing the work they produce to Microsoft and OpenAI to build or enhance their AI products, like ChatGPT. In fact, a new report now says CNN, Fox and Time are also discussing terms with the ChatGPT creator. If news organizations licensing their content alarms you, it's important to note that The Associated Press already sells its content to OpenAI and so does Germany's Axel Springer, but that doesn't mean Sam Altman just wants to keep everyone that comes knocking to his offices. In fact, only recently the OpenAI CEO tried to make a case for continuing to use copyrighted work to train AI by arguing it fell under fair use. That is essentially the same argument that Mark Zuckerberg's Meta plans to make if any of Facebook or Instagram's users try to sue the company for using their posts to develop the company's own AI. But think about it, though. If something like ChatGPT can learn how reporters write stories, could it then replicate seemingly believable stories to fool the masses into one action or the other? The future looks bleak if one were to believe so. It seems like jokes about AI manipulating people by controlling the media and the news are no longer going to remain jokes. 🤫 Microsoft ranked #14 on HackerNoon's Tech Company Rankings this week. New Year, New Layoffs Looks like we're experiencing a repeat of 2023. While the extent of job cuts isn't as severe as the one we saw at the beginning of 2023, Google just announced that it would be laying off hundreds of its employees across multiple teams, and damn*!* Last year was a tough time to be working in tech as almost every major tech giant announced job cuts affecting thousands of people. We're talking Meta, Microsoft, Amazon, Google, Twitter/X - you name it, and they were there. The rationale was that these companies had hired way too many people during the COVID-19 pandemic and didn't really know what to do with them anymore now that demand for their products was tapering off (and like, why wouldn't it, now that people could go outside and touch grass!). While things at Google might not be pleasant, they're downright nasty at videogame software provider Unity Software which is letting go of about a quarter of its workforce (roughly 1,800 people). The company recently courted some controversy after introducing a fee system for developers using its software to create games; the move was not popular, forcing the company to revert the changes. To top things off, Amazon too is letting go of several hundred people at some of its divisions marking yet another tumultuous start to the year for tech works. Google ranked #2 on HackerNoon's Tech Company Rankings this week. Amazon was on the #11 spot. In Other News.. 📰 Apple shares the most popular podcasts of 2023 — via Apple
CES 2024: The weirdest tech, gadgets and AI claims from Las Vegas — via TechCrunch
Snapchat to let parents decide whether their teens can use the app’s AI chatbot — via CNN
Microsoft overtakes Apple as world's most valuable company — via Reuters
Exclusive: Even Bill Gates was surprised by ChatGPT — via Axios And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon Crypto bros, rejoice! 2024 might as well be renamed the year of the crypto now that the US Securities and Exchange Commission has opened the floodgates into crypto investment with the approval of a spot bitcoin exchange traded fund, causing the world's most popular cryptocurrency to hit the highest it has ever been since April 2022. And it's not even the end of January! The approval of the ETF, which had been a hot topic for years and had recently picked up steam after the likes of Blackrock and Grayscale had knocked again on the US SEC's door seeking its nod, is now being described as a watershed moment for bitcoin and cryptocurrencies as a whole. Grayscale Grayscale knocked again knocked again But the writing was on the wall though. In fact, a recent poll conducted by betting platform Polymarket showed the odds in favor of a bitcoin ETF being approved by the US Securities and Exchange Commission by the 15th. According to a CoinDesk report , an overwhelming 85% of market participants believed the ETF could be approved later this month. Meanwhile, the good folks at Bloomberg, (yes, Bloomberg!), had pegged the chances at over 90%! report report At HackerNoon, however, readers were a lot more pessimistic as only 46% thought such a thing would be possible while another 31% thought it might happen, just not this month. HackerNoon CEO David Smooke was one of the beliebers believers (unlike * some *HackerNoon editors). some some Now that the ETF is approved, it does raise some questions about exactly how valuable bitcoins and/or cryptocurrencies actually are. Most will tell you that the magical $100,000 number is now in sight, and while that may or may not happen, there are the likes of data provider CryptoQuant which had previously warned that the ETF approval would trigger a sell off. $100,000 $100,000 warned warned As of publication, it doesn't look like bitcoin has actually gone past the $50,000 mark, but that's no reason for the hodlers and diamond hands to worry as optimism surrounding cryptocurrencies persists , with more and more people pointing at a flurry of events to drive home the fact that maybe, just maybe, cryptocurrencies will finally live up to their promise (whatever they might be). persists persists flurry of events flurry of events And so, it just might be: 2024, The Year of the Crypto™. 👋 You’re reading HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Subscribe here to receive the complete newsletter in your inbox every Tuesday. 👋 You’re reading HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. Subscribe here to receive the complete newsletter in your inbox every Tuesday. You’re reading HackerNoon's Tech Company News Brief, a weekly collection of tech goodness that combines HackerNoon's proprietary data with internet trends to determine which companies are rising and falling in the public consciousness. S ubscribe here to receive the complete newsletter in your inbox every Tuesday. S here complete Microsoft, OpenAI Hit With Copyright Lawsuits Microsoft, OpenAI Hit With Copyright Lawsuits Ah. What edition of HackerNoon's Tech Company News Brief be complete without a mention of artificial intelligence? I mean, if it's not crypto, it's definitely AI. Well, it looks like Microsoft and OpenAI are getting into trouble for profiteering off of other peoples' work by building AI products using content available on the internet. The big one, in case you missed it, was this lawsuit the New York Times filed against Microsoft and OpenAI for allegedly copying and using millions of its works to build generative artificial intelligence tools that rely on so-called large-language models. Microsoft Microsoft OpenAI OpenAI lawsuit lawsuit But funnily, while the NYT is taking the lawsuit route now, it had been in negotiations with OpenAI on licensing its content. For one reason or the other (maybe it was the money?) negotiations fell through, and the NYT decided to file a lawsuit. But while that plays out in court, the NYT itself reported that other large US media organizations are already in talks with the companies to license their work. We're talking about the likes of Gannett, News Corp and IAC, who are deciding the pricing and terms of licensing the work they produce to Microsoft and OpenAI to build or enhance their AI products, like ChatGPT. In fact, a new report now says CNN, Fox and Time are also discussing terms with the ChatGPT creator. new report new report If news organizations licensing their content alarms you, it's important to note that The Associated Press already sells its content to OpenAI and so does Germany's Axel Springer, but that doesn't mean Sam Altman just wants to keep everyone that comes knocking to his offices. In fact, only recently the OpenAI CEO tried to make a case for continuing to use copyrighted work to train AI by arguing it fell under fair use. That is essentially the same argument that Mark Zuckerberg's Meta plans to make if any of Facebook or Instagram 's users try to sue the company for using their posts to develop the company's own AI. fell fell same argument same argument Facebook Facebook Instagram Instagram But think about it, though. If something like ChatGPT can learn how reporters write stories, could it then replicate seemingly believable stories to fool the masses into one action or the other? The future looks bleak if one were to believe so. It seems like jokes about AI manipulating people by controlling the media and the news are no longer going to remain jokes. 🤫 Microsoft ranked #14 on HackerNoon's Tech Company Rankings this week. New Year, New Layoffs New Year, New Layoffs Looks like we're experiencing a repeat of 2023. While the extent of job cuts isn't as severe as the one we saw at the beginning of 2023, Google just announced that it would be laying off hundreds of its employees across multiple teams, and damn*!* Google Google Last year was a tough time to be working in tech as almost every major tech giant announced job cuts affecting thousands of people. We're talking Meta , Microsoft , Amazon , Google, Twitter/X - you name it, and they were there. The rationale was that these companies had hired way too many people during the COVID-19 pandemic and didn't really know what to do with them anymore now that demand for their products was tapering off (and like, why wouldn't it, now that people could go outside and touch grass!). Meta Meta Microsoft Microsoft Amazon Amazon Twitter/X Twitter/X While things at Google might not be pleasant, they're downright nasty at videogame software provider Unity Software which is letting go of about a quarter of its workforce (roughly 1,800 people). The company recently courted some controversy after introducing a fee system for developers using its software to create games; the move was not popular, forcing the company to revert the changes . letting go letting go revert the changes revert the changes To top things off, Amazon too is letting go of several hundred people at some of its divisions marking yet another tumultuous start to the year for tech works. letting go letting go Google ranked #2 on HackerNoon's Tech Company Rankings this week. Amazon was on the #11 spot. In Other News.. 📰 In Other News.. 📰 Apple shares the most popular podcasts of 2023 — via Apple CES 2024: The weirdest tech, gadgets and AI claims from Las Vegas — via TechCrunch Snapchat to let parents decide whether their teens can use the app’s AI chatbot — via CNN Microsoft overtakes Apple as world's most valuable company — via Reuters Exclusive: Even Bill Gates was surprised by ChatGPT — via Axios Apple shares the most popular podcasts of 2023 — via Apple Apple Apple CES 2024: The weirdest tech, gadgets and AI claims from Las Vegas — via TechCrunch TechCrunch TechCrunch Snapchat to let parents decide whether their teens can use the app’s AI chatbot — via CNN CNN CNN Microsoft overtakes Apple as world's most valuable company — via Reuters Reuters Reuters Exclusive: Even Bill Gates was surprised by ChatGPT — via Axios Axios Axios And that's a wrap! Don't forget to share this newsletter with your family and friends! See y'all next week. PEACE! ☮️ — Sheharyar Khan, Editor, Business Tech @ HackerNoon — Sheharyar Khan, Editor, Business Tech @ HackerNoon

The Year of the Crypto

ক্রিপ্টোর বছর

Das Jahr der Krypto

El año de las criptomonedas

L'année de la crypto

क्रिप्टो का वर्ष

暗号通貨の年

암호화폐의 해

O ano da criptografia

Год крипты

Kripto Yılı

Năm của tiền điện tử

加密货币年

All about the OTT App Market The best over-the-top, or OTT, apps provide an essential turnkey to offer customized solutions. find this a potential opportunity to launch a scalable application in just a matter of weeks! For example, Netflix or Hulu over-the-top services have turned the entertainment sector into a profitable industry, especially for content owners, social media marketers. OTT platform providers These apps enhance popular video streaming services with essential features to stream digitized content in smart TVs, laptops, personal computers, androids, & many more compatible devices. This helps them facilitate elevated user engagement within their best OTT platforms, providing customers with a convenient and ad-free experience. According to , the global video streaming market is expected to have an impactful compound annual growth rate of about . grand view research’s report 21% from 2021 to 2026 Outlining Predominant Market Players: 1. Netflix The ever-growing top of by Marc Randolf and Reed Hastings. Initially, they pioneered the very concept of renting DVDs through the mail by charging viewers a monthly fee. Later, they came up with TVshows, movies directly streaming into , they grew as top distributors and producers for both of the streaming genres mentioned earlier. OTT platform Netflix was started in 1997 customers' PCs. In 2012 To top it all, the movie streaming apps in both media formats, Android and iOS apps, have an impressive collection of content libraries which include original series, movies, and programs captured in distinctive languages, making it well-diversified. Undoubtedly, that states the reason why Netflix carries . paid customers spanning 190 countries Some of the amazing factors that pick up attention are: Netflix largely captures a 63% market share in the U.S. OTT video streaming industry is expected to see a hike of $73.9B by 2024 In the majority, 60% of Gen-Xers watch their streaming videos on a daily basis Watching Pay-TV is fading, and users allot less than 30 mins a day 2. Hulu The pioneer OTT video platform of Hulu, based in the U.S., provides video streaming subscription services. and was initially a joint venture between NBC, News Corp., Province Equity Partners, and later The Walt Disney Co. but is now majority-owned by Disney. Hulu was launched in the year 2007 This OTT streaming solution facilitates users with unique and unfettered access to new episodes, and in 2017 they launched Hulu with Live TV offering over-the-top IPTV services that featured linear television channels.  As of 2021, Hulu carries 41.6 million subscribers. A look into some exceptional facts: As per records, Hulu is known to invest more than $2.5 billion each year on content Surprisingly, Hulu Ads are found to be 2x more effective than TV Ads Hulu OTT TV app allows registration via email as well as social media They offer 43 different video ads to their users every month Hulu is one and only available in two countries: the U.S. and Japan 3. HBO Now HBO Now is one of the biggest inspirations you can use to build your best OTT app development company. It was , and this American subscription video-on-demand streaming service became one of the favourite amongst consumers. launched officially in 2015 The surprising factor catches our attention when we come to know that this 5-year old standalone Subscription-based OTT solution provider facilitates access control to the platform through HBONow.com, Google, or  Apple TV to their users by effortlessly getting switched to Max no extra charge.. Interesting facts that hold and attracts views are: HBO Now has more than 10,000 hrs of content at launch Home Box Office (HBO) was originally named the green channel HBO carries around 44.2M subscribers as of the fourth quarter of 2021 In the early 1970s, they distributed signals using microwave Its first live event coverage was 1973’s Pennsylvania Polka Festival So far, we have seen the industry's pioneer leaders of OTT streaming solutions and their growth over time. Now we will get into its types and check how to create an exclusive OTT app! What are the Types of OTT Apps? There are two major types in which you can capture your audience’s attention when you plan to have your own application specifically designed via OTT app development. Primarily, they are developed where the majority of your audience resides to watch your content. And, that is in mobile or television. Both are broadcasted in audio as well in video formats. You can have your dynamic OTT apps in a categorical manner, suiting its niche preferences. 1. Video When you plan to have an effective interactive streaming platform or an app in the OTT industry, you want to engage markets, as most service providers do, with high-quality video players and content with clickable user interfaces to entice all kinds of demographics on the move. 2. Audio You can set your niche brand by having audio-based OTT platform apps where your users can listen to your curated pieces of OTT content, such as live audio, engaging podcasts, and radio broadcasts. Now, in the next segment, let’s take a look at: Building a Streaming App for OTT Business 1. Wherever your target audience is, be there Due to sophisticated streaming capabilities, providing an engaging viewing experience with high-end quality is the backbone of your OTT development. As a result, you can quickly reach out to every target base through devices like smart TVs, Android, iOS, mobile or web apps;  smartphones; tablets; desktops, etc., and observe user behavior to serve as per their preferences. 2. The Key to Engagement is Personalization Only by providing new streams of material within your white-label OTT platform, your audiences will remain continually engaged. For example, if you broadcast a big movie every Thursday, people will devote their entire schedule to watching it within the OTT branded apps on the go. So, pick which form of personalization will catch their interest and stick to it for a while. 3. Each Screen Has Its Own Viewing Experience Every device has its own unique OTT TV solution viewing experience that is feasible and versatile for your users worldwide. Also, with streaming analytical capabilities, you'll be able to target and analyze every device user who can now effortlessly use your platform and make any subscription transaction. 4. Help Audiences Find Your Content In Seconds Is your information categorically placed in a way that allows easy searchability? If you've already done it, the best method to talk about your popular content is to incorporate a theme around your OTT platform development, such as movies, music shows, kids, news, games, and so on, so that people may find your content under these categories while they're surfing the web in general and have no specific preferences. 5. The way to scale your OTT TV platform success Through analytical tools and feature-rich services offered under a single white-label OTT solution, you may constantly or periodically update your over-the-top software's functionality and control its efficiency. Furthermore, you can now effortlessly acquire insights like audience tracking data, live custom analytics, browsing insights, reviews of your OTT app platform, and more while on the go! Highlighted Features to Determine Your OTT App Revenues 1. Easy App Onboarding Improve your user’s entire OTT streaming app experience by making registration, verification, and profile creation as simple as possible. Make it possible for them to sign up through social networking platforms as well. 2. Search Feature It’s a must for over-the-top app builders to ensure your users have smooth navigation where they can find their favorite content. It's a quintessential function that you may customize with genre, language, and other options. 3. Multilingual Content Definitely, your subscribers might want to enjoy streams globally. They need to understand your content in the language they prefer and make it more relatable. So, your OTT streaming app should be flexible in streaming content in many languages. 4. Watchlist The watchlist integration lets you know whether your viewers want to save items for later viewing. In addition, this feature will aid in creating an in-app notification strategy and monetize new streams that are introduced using their own white-label OTT solution. 5. Payment Gateway Integration Whether you're using Google or Apple as your operating system, you can add your own payment gateway service. In addition, in-app purchases in advanced mobile frameworks are available and made easy for your potential customers. 6. Push-Notifications Use pop-up messages to remind your platform members about their membership expiration dates or promote new popular content available for purchase. This has the potential to boost app engagement and reduce retention rate too. 7. Social Feature You may also freely promote your developed OTT apps by including a share button on social media handles to increase your chances of attracting new users through online marketing. 8. Subtitles This functionality lets your users engage with non-localized material and boost the engagement of your films in apps created by your in-hand OTT developers and are streamed globally. 9. Ratings and Reviews Allow your viewers to evaluate and rate videos, movies, or shows that they just saw to collect their opinions or thoughts and share them with other users via rapid clicks. Popularize your content in social forums & similarly have user personalized feedback. 10. Admin-Panel Manage your app's functionality and growth in real-time with an all-in-one live dashboard to see exact view counts, subscribers, and other metrics and improve the user experience with new features. How Much Will It Cost to Develop an OTT Application? 1. Platform Genre I am sure the type of platform with which you plan to skyrocket your revenue will be outstanding! Besides, you can have two choices of building a SaaS platform or else go for SaaP venture. This purely depends on your brand objectives and cost factors. 2. Features & Tech Stack Choose the ideal list of features, technology-driven capacities for you to launch an enticing business based on for setting business cornerstone with these top emerging (OTT) services. OTT app development OTT App Support Any Industry 1. Content Owners They are the foundation of building any OTT platform that is used to broadcast a creation. These content creators have a variety of opportunities to promote their work, including VOD, movies, virtual events, seminars, and more, all of which rely on the power of streaming technology. 2. Health & Fitness Many fitness enthusiasts & health activists find this a key source for staying healthy and fit, allowing fitness professionals who stream their valuable workouts through OTT services that provide expert advice and supervised programs. 3. Enterprise Owners Every organization has now become touch-friendly. Also, pairing to streaming technology has made visual presentation more effective, resulting in a significant increase in the revenue ladder. Entrepreneurs have a tremendous influence over their target market with the strategic exhibition of ideas that give practical answers. 4. Schools and Universities The advancement of technology has provided great opportunities for connecting and catching up on learning! Curriculum tutors and university chairpersons can now use the e-learning mobile OTT platform to hold live sessions, webcasts, and other events using the power of smart applications. 5. Sports Clubs Now, sports personalities or athletes may easily broadcast their must-see events or tournaments via mobile connectivity, courtesy of launching their own sports-based OTT tv apps, allowing every sports lover to enjoy the classic replays or best shots via video on demand. 6. Personal Trainers Create a bespoke OTT app with leading streaming solution providers and tailor your training platform with live streams, one-to-one personalized video conference sessions, physical fitness courses, and more. 7. Charitable organizations As charitable or NGO activists, you can reach the poor much more quickly than you might think, just as celebrities using real-time streams, motivational on-demand videos, and vocational streaming courses to raise funds. Top OTT App Monetization Strategies With different video monetization possibilities that revolve around learning & apps, a personalized library of increasing income spikes is always worth it. Here are a few examples: how to create OTT platforms 1. SVOD A subscription-based video-on-demand package, also known as SVOD, can be used for a set period of time, such as monthly, quarterly, or annually. Establish a loyal customer base and regular revenue for your streams. 2. AVOD Advertising-based video on demand monetization, which is popularly known as AVOD gives you an ad-supported streaming app. Build an OTT platform with third-party ad integration apps to captivate large audiences and instantly gain increased viewership. 3. TVOD Transactional-based video on demand, often known as pay-per-view, is a great way to generate income for your premium video streaming. Showcase top-rated VOD and one-time watch videos by charging per content and quickly increase revenue. Last but not least: Hey folks, we have now come to the end of this blog, where you have gotten a detailed picture of how to start and how to proceed with an OTT streaming business. Our list of guides can help you outline deciding points for shaping the finest OTT app/platform to construct a worldwide user base. Also, please let us know what you think in the comments section below for more information on how to use the potential of OTT right now!

How to Create a World Class OTT App for Mobile and Smart TV

Does anyone still remember MySpace? Well, the story about MySpace should be told over and over again. Why? Because you can learn a lot from it. To begin with, they made a movie about called “Social Network,” if I’m not mistaken. Now, if you’re asking me, they should’ve made a movie about the rise and fall of MySpace. That would’ve been one more interesting and far way more dramatic movie. The sweet irony is that Justin Timberlake, who had one of the lead roles in this movie, now owns MySpace. Who could have thought that would be possible? Maybe he got an idea to buy MySpace while participating in a movie about Facebook. I don’t know for sure. What I do know is that MySpace deserves a special place. Here’s why. Facebook Oh Boy, Those Were the Days Back in the day, from 2005 to 2008 MySpace was THE most popular, visited, and used social network in the world. “By 2006, MySpace was being visited more times than Google Search and Yahoo! Mail, becoming the most visited website in the United States. In June of 2006, it was reported that MySpace was responsible for nearly 80 percent of all traffic-related to social networking sites.” That’s something not only Facebook, but any other social network out there can only dream about. Who could have thought that it would be possible to lose $600M in six years? That’s precisely what happened to MySpace. “News Corp bought the site for $580 million in 2005. The company eventually sold MySpace to Specific Media for $35 million in 2011.” So, What Went Wrong and Why? Any online platform with millions of users is a gigantic money-eating machine, plain and simple. Here’s what good old Wiki has to say about that: “Marvin L. Gittelman suggested that the $900 million three-year advertisement deal with Google while being a short-term cash windfall, was a handicap in the long run. That deal required Myspace to place even more ads on its already heavily advertised space, which made the site slow, more difficult to use, and less flexible. Myspace could not experiment with its own site without forfeiting revenue, while rival Facebook was rolling out a new clean site design.” Truth be told, things are a bit more complicated in MySpace’s case. You know what they say. All great empires fall from within, including the digital ones. The virus of decadence is alive and kicking. He obviously didn’t die out with the fall of the Roman Empire. While MySpace was occupied with Facebook was working hard with the modest underdog budget. The rest is the shiny Facebook’s history and the new social networks world order. “the opening of extravagant new offices around the world, ” “According to Businessweek, the pressure to drive revenue, when other startups were using the luxury of venture money to create and explore, stifled the possibility that MySpace would have the breathing room it needed to innovate. Instead, executives were focused on trying to raise advertising profits.” What Does It Mean When Someone Says That You Are the Next MySpace? When someone says that your startup, company, business, platform, or whatever is the next MySpace, you have to immediately stop what you’re doing and take a deep breath. It’s not a curse, but it’s a serious warning. This means that you’re already on the road to Mandalay, but you just don’t know it yet. So, here I am and I am asking this question, Now, Upwork may reply, my dear Upwork are you the next MySpace? what are you talking about? We’re having the time of our freelance lives. The trouble with Upwork, though, is that it just had its “MySpace Google advertising” moment when it made its NASDAQ debut. Meaning, that Upwork took the money, and now it has to live up to its investors’ expectations the same way MySpace had to satisfy Google’s advertising appetites. We know how that one turned out for MySpace. The pressure is going to be enormous and Upwork will have to be very creative in finding new ways to ensure liquidity. Here’s the problem. Upwork already doubled its fees. That wasn’t enough. So, it had to go public. I’m afraid that’s not going to be enough too. Why? Feel free to check Upwork’s NASDAQ situation. While you’re reading this article, its shares are hitting a record low. Punk Is Not Dead, Neither Is MySpace MySpace is still alive, but it isn’t kicking, that’s for sure. The numbers never lie. “Last November, the site got 50 million unique visitors in the U.S. That’s a lot of visitors for a site that most people haven’t thought about in 8 years. Facebook currently boasts 864 million daily active users worldwide.” How do MySpacers feel about it? Well, here’s what they had to say to Business Insider: “MySpace: Yes, Facebook Kills Our Traffic, But At Least We Make Money!” Now, that’s a definition of a positive attitude. Steve McQueen had put it nicely in “The Magnificent Seven.” “ It reminds me of that fellow back home that fell off a ten-story building. As he was falling people on each floor kept hearing him say, “So far, so good.” Well, Upwork, so far, so good, but for how long? Also published here. Vote for this and my other freelance-related stories in Noonies 2022 category: . HACKERNOON CONTRIBUTOR OF THE YEAR- FREELANCING

Is Upwork Going to Pull a Myspace?

¿Upwork va a sacar un Myspace?

Upwork va-t-il tirer un Myspace ?

क्या अपवर्क एक माइस्पेस खींचने वाला है?

Upwork は Myspace をプルする予定ですか?

Upwork vai puxar um Myspace?

Upwork có tạo được Myspace không?

Upwork 会拉动 Myspace 吗？

How would you feel if I told you that making business-related decisions doesn't have to be hard? What if I said that, in reality, it can be as simple as knowing your values? Having strong values is something I take pretty seriously but in a subconscious way. I hadn't given the concept much thought until my interview with ex- -employee-turned-entrepreneur, Sarah Gibbons. Amazon Values, as it turns out, can mean the difference between success and failure in business. Those with strong values have a clear advantage over those who don't because they know what they stand for. This allows them to make better decisions, faster – and they're less likely to waiver when things get tough. Today's newsletter is going to be a brief but powerful one. Let's talk about the importance of values in and how you can use them to make better decisions. business Sarah Gibbons' Take on Values I interviewed Sarah on the Success Story Podcast about a year ago now, and it was one of the most value-packed (pun intended) interviews I've ever done. We only spoke for about 40 minutes, which is much shorter than my usual shtick – but in that time, we talked about: Sarah's pivot from the corporate world to entrepreneurship, The true meaning of fulfillment in business and how it relates to growth, Re-defining leadership, Knowing your values and sticking to them, Spiritual psychology and how to stop yourself from getting triggered, and Other important lessons for entrepreneurs. If any of that appeals to you, I'd highly recommend checking out the interview. It was one of my favorites to do. But for the purposes of today's newsletter, I want to focus on something Sarah said towards the beginning about values: "Once you get clear on your values and you define them on your terms, then you have a very different experience.” Let's dig into exactly what Sarah means by this. From Corporate Work to Values-Based Leadership If you saw the interview, you know that Sarah had an incredibly interesting start to her career. She worked for Amazon's IMDB division for a while, and then she was asked to join MySpace (now News Corp). Can you imagine being part of that team in the early days? As many of us have experienced, though, Sarah soon grew tired of the corporate 'way'; the ladder climbing, the high stress, and the constant grind. She was in search of a new type of fulfillment – and again, like many of us, she found it in entrepreneurship. "I became apparent that I did not want to go back into digital media. The part that I loved was always hearing people's stories, but also getting into people's leadership and really helping them see what's possible beyond what they were currently doing. I ended up starting my coaching business, and with a lot of trial and error, ended up where I am now." Where Is She Now? Sarah is actually something called a spiritual psychologist; she coaches leaders who have become so focused on their success, that they've neglected their personal happiness, growth, and fulfillment. What an incredible role to play in someone's life. "When I got my masters in spiritual psychology, it started to introduce to me a way of leading that used practical tools – particularly around communication – that helped me realize the way in which fulfillment works is through exponential growth, not through doing things on a horizontal line." It was through her training that Sarah began to see just how important it is to connect with and be in alignment with, your core values. "I started to ask, what does it mean to live from my values? What does it mean to really connect with my own intuition, and start to make choices that honor what I want, versus these expectations that I had for myself based on parental and societal influence?" Sarah's training helped her to reach many pivotal realizations about her business, her life, and her way of perceiving the world. "I can create what I want – as long as I get clear, and I'm paying attention to my mindset and my intention, and I'm taking action. What I know to be true is that, then, the universe will meet you at the point of action." Nowadays, Sarah coaches her clients to really get in touch with their core selves and align everything else accordingly. It's a highly values-based approach that helps people make the right decisions – not based on expectations, but on their highest-held beliefs. "I now teach my clients around communication leadership, and so they're having very similar experiences. Many of them are staying in their current roles, but they're experiencing a level of fulfillment and impact that they didn't think was possible." Where Do Values Come In? I was excited to ask Sarah about her views on core values because it's a topic that I'm incredibly fascinated by. What role do our values play in our lives, and how do they shape the way we live and work? Values Shape Your Perceptions “Think about leadership as ‘who you informs what you do’. So if you are disgruntled, overwhelmed, and anxious on the inside, then as you are doing whatever it is you need to do, that's the experience you're going to have.” This was Sarah's insight: values shape the way in which you see and experience the world. If one of your values is compassion, then you're going to be more likely to see the world through a compassionate lens. I find this so powerful because it means that we can actually change the way we experience life. What if I were to change from a mindset of scarcity to one of abundance? Would I then start to see more opportunities? Sarah believes that the answer is yes; her experience has been that, when clients shift to define and live by their values, they start to see different results in their businesses and lives. Values Influence Your Attitude “One of my top values is connection. So as I'm moving throughout the day, I'm asking myself, ‘What value does this align with? Is this in accordance with my values?’ That's a very different experience than ‘What should I be doing?’” Similar to the point above, Sarah believes that our values influence our attitude. If we're constantly questioning whether our actions are in line with our values, we're going to approach life – and work – very differently. For instance, if my top value is freedom, then I'm going to be very aware of anything that constrains my freedom. This might manifest in the way I work – perhaps I'll only take on projects that allow me to work from home, or maybe I'll start my own business so that I can set my own hours. If I value honesty and transparency, I'm going to be much more likely to build relationships based on those values. I might avoid working with companies that have a history of misleading their customers, or I might make an effort to be open and honest in all my interactions. Values Help You Understand Yourself More than anything, your values are a clear indication of the person you are – because values are, at their core, what you believe in. “One of the best ways to get really clear on who you are is to define your values. Everyone has a round 5-7 values; once you get clear on your values and you define them on your terms, then you have a very different experience.” Sarah explained that most of her clients insist they know exactly what their values are. After a bit of digging, though, she soon realizes they're not clear on what their values actually are at all. For instance, they'll list “family” as a value – but when Sarah probes a little further, she realizes that what they really value is connection. Or they might say “success” – but what they really mean is freedom. So, how can we overcome this obstacle? How can we make sure that we're clear on our values? Defining Your Values as an Entrepreneur , your values are the beliefs that determine what your priorities are. They're not simply 'I try to be nice to people or 'I believe in the afterlife' – they go much deeper than that. According to MindTools Some values are personal (like honesty or courage), while others are more universal (like fairness or respect). You might have values that guide your personal life, and different ones that shape the way you work. As an entrepreneur, it's essential to be clear on what your values. After all, you're the one in charge – which means that your values will have a direct impact on your business. So, how can you go about defining your values? I had a look at Sarah's handy ten-minute guide to finding out exactly where your needle points. Here's what I took away from it: 1. Find a list of values. There are plenty of resources for this on the internet; has one. The point of looking at a mega-list like this is to help you start thinking about the values that might be important to you. MindTools It's also interesting to see what counts as a value, and what doesn't. For instance, I would have never considered 'beauty' to be a value – and I thought that 'financial wealth' would be included, but it's not. Here are some of my personal favorites from Sarah's list: Determination Growth Respect Commitment Compassion Wisdom Study the list, and start making a note of the values that stand out to you. I really enjoyed this first step because it made me take the time to consider what I actually value, rather than vaguely understanding myself. 2. Narrow it down to your top 10 values. This is a bit harder than it sounds, but Sarah has a great tip: "You'll know when you hit it because you'll feel it in your gut; you may have memories, feel inspired, or feel a connection." What Sarah actually recommends is to create five core values instead of ten basic values. For instance, if you value kindness, empathy, and love, you might group those under a core value – 'compassion' – which would be one of your five. What this does is it makes you think harder about what each value means to you. It's harder than you think to draw connections between values, but don't overthink it. Your gut will tell you more than your brain ever could. 3. Define each value on your own terms. This is the part where you get to be creative; turn those core values into mini definitions and principles to live by. For instance, if one of your values is 'compassion', you might say: "I practice compassion by being understanding and kind, even when it's difficult." Or if your value is 'growth', you might say: "I commit to continuous learning and self-improvement." Sarah also recommends answering a few questions to help with the process: How might this value shape the decisions you make today? Which value do you live in the most, and what does that look like for you? Which value do you live in least? How can you re-define it so that it feels more natural for you? From there, it's simply a matter of getting super familiar with those definitions. Maybe you read through them as part of your morning routine, or post them on your vision board. Either way, the idea is to keep those values top-of-mind, so that you can make decisions based on them in your day-to-day. Where Your Values Will Take You My interview with Sarah was such a wholesome one, and it really got me thinking about how our values shape the way we live. But what's interesting is that, as entrepreneurs, our values will also shape the businesses we build. And that makes them crucial to success. In fact, that values-based decision-making leads to better business outcomes. It makes sense, really; if every decision is based on the values that are most important to you, then you're more likely to end up in a place that feels good – both for you and for your business. studies have shown Of course, that's not to say that every decision will be easy, or that there won't be trade-offs. But if you know your values and are clear on what they mean to you, those decisions will get a lot easier. Sarah says it best: “It allows people to feel so much more empowered. Get clear on your values, define them, and you'll be amazed at the different kinds of results you get both in the workplace and at home.” Don't forget to check out Sarah's , and I'll see you next week! full interview Also published here.

What Do You Think Your Values Are?

“ ” Venture services focuses on solving a specific sub-section of founder needs: the need for quality software and the need for capital to pay for it. This post is the second part in a series on and . examined the ‘what’ and the ‘why’ of venture, primarily from the perspective of the providers. venture venturing Part One This second part deep dives into ‘how’ venturing actually works in the context of , the corner of the venture ecosystem I occupy as a partner of London-based . venture services Pivot Venture Services My first experience of venture was via , a pioneer of the corporate venture model. facilitate a number of innovation programmes globally and, in collaboration with NewsCorp, helped birth , for whom I was Product Director in 2015. PreHype PreHype Newsmart My first real break in venture came as MD for (aka ‘Castle Digital Partners’), a venture services firm based in Charlotte, NC. I set up Castle’s London Studio and inked their first European venture deals. Castle Venture, in all its forms, is the professionalisation of angel investing. Angel investment has a bad reputation. One that is characterised by chaos, amateurism and exceptionally high levels of risk. I once attended an investment seminar where a seasoned angel presented his view that one shouldn’t expect to make any money from angel investing and that it was more about having fun. This seemed counter-intuitive. But when your company is you, a big idea and a slidedeck, it’s hard to convince others to back you (especially if you’ve never started a company before.) Given the obstacles, it’s a miracle first-time founders ever make it out the gate. Super-early startups are a ‘dead-zone’ analytically. Valuations, forecasts, market sizes and business plans are like ; simultaneously worth zero and one million. Shrodinger’s Cat An early-stage startup valuation. Institutional investors don’t engage until much later on. They are , as opposed to startup, investors. They enjoy the comparative luxury of a working product, market traction, even revenue from the companies in which they invest. scaleup What is Venture Services? Venture services firms serve two sets of interests, those of and those of . They facilitate transactions that align the interests of both towards the rapid creation of equity value. early-stage founders early-stage (‘angel’) investors Jeff Bezos is well known for advising founders to if they want to build a durable business. He bet on customers’ desire for low prices and fast delivery not changing and both seem to have paid off well. ‘bet on the things that don’t change’ For venture services firms, the bets are as follows: We are betting that startup founders will continue to need capital and great quality software. We are betting that wealthy individuals will increasingly want to invest in startups whilst reducing the risk of losing their investment. (In the UK in particular, they will continue to take advantage of the UK Government’s generous tax relief schemes, such as , for as long as they are available. More on this later…) SEIS and EIS Bet #1: Founders Proptech. Lawtech. Connected Enterprise. Smart Cities. IoT. The tech-sector is diversifying rapidly. And so is the archetypal startup founder. Outside of Silicon Valley, it’s increasingly rare for first time founders to be hackers or coders. Instead, most are who have identified an opportunity to disrupt or transform the status quo with software. They are, in , “just some business person.”* domain experts the words of Paul Graham [ : Mr Graham uses this term in a somewhat derogatory manner. We most definitely do not.] *Important note And for “just some business person” with a vision but no technical experience, the challenge of building an initial product and finding sufficient capital to pay for it can be insurmountable. It’s a much greater obstacle to startup progress than is commonly acknowledged. Historically, non-technical founders looking to start a company have had two options to choose from. they find a technical co-founder / CTO and rely on them to build a product in exchange for a healthy slice of equity. Either they reach further outwards to one of the many providers of software services (aka ‘dev shops’), typically located on the eastern edge of the European Union (think Poland, Czechia, Belarus, Ukraine, Russia), or in India and pay them in cash. Or Each route has its pros and cons, both of which have been well documented and . here here Venture services firms offer a third option to founders, one that sits between an invested employee and a detached supplier. And one which, ideally, offers the benefits of both. These firms don’t create companies or lay claim to their ideation. They partner with mission-driven founders to solve a specific subsection of their needs: the need for working software and the need for capital to pay for it. For startup founders, finding a partner willing to remove the two biggest obstacles to early-stage progress can be compelling. It’s common to hear founders talk of their desire for . Done correctly, venture services should feel like an accelerator on steroids. value-added capital By trading in equity, venture services firms attain goal congruence with founders that suppliers are unable to achieve. This creates a partnership culture of trust and shared outcomes. What’s most appealing to investors, however, is that venture services significantly . This includes team risk, technical risk and (above all) execution risk at pre-product stage. reduces risk The percentage of startups who burn through their initial capital but fail to deliver an actual product remains surprisingly high. This usually occurs when CEOs unexpectedly part company with their CTO and find themselves with half a product that has little or no value. Experienced angels will have witnessed this on multiple occasions. Having confidence that a product will be delivered, on time and on budget, is rare and appealing. Bet #2: Investors Investment decisions don’t exist in a vacuum. They occur within a complex macro-economic environment of financial incentives and opportunities, notably tax relief and grant-funding. All governments seek economic growth. As startups are high-growth vehicles by definition, governments are increasingly trying to incentivise early-stage investment. Widespread awareness of the generosity of these schemes, combined with the explosion of interest in startups, has created a perfect storm of capital searching for a home. By way of example, let’s examine the UK government’s , better known as SEIS. For early-stage startups, SEIS is the financial equivalent of methamphetamine. Seed Enterprise Investment Scheme In the words of , CrowdCube “To say that the Seed Enterprise Investment Scheme, or SEIS, is incredibly generous is somewhat of an understatement. Of course we all hope our investments do well, but if you pay tax at 45% and make an investment of £10,000 that fails completely, you only lose £2,750 due to the tax relief.” Wealthy individuals with high income tax bills have stampeded to find startups that will allow them to take advantage of the tax relief offered by SEIS. But few have direct access to qualifying companies or the time to find them. Whilst the relief is an end in itself, investors also want to protect their investment and minimise downside potential. They’re not just looking for startups that qualify for SEIS tax-relief. They’re looking for that qualify for SEIS tax-relief. the best startups Via access to select early-stage startups, venture firms are well positioned to broker these trades. How Venture Services works In Part One, I observed that the economic details of venture deals are rarely disclosed. It’s hard to quantify how much equity (and cash) really changes hands between founders and venture firms. The spectrum is very broad. As a first stab at demystification, below is a breakdown of how a successful venture engagement works at . It’s a happy path, one in which all the boxes are checked. Pivot The very short summary is that venture services means building software in exchange for equity, syndicating part of the equity to cover costs, and retaining the remainder as margin. This aligns the firm’s incentives and upside with those of the founder(s) with whom they partner. The slightly longer version is as follows: The firm meets a startup founder and makes an investment decision based on the market opportunity and the extent to which quality software will create momentum and initial traction. Working closely with the founder(s), the firm scopes and estimates the cost of the software development required to help the startup reach its agreed goals. The firm’s Investment Manager determines if additional cash is necessary and calculates the equity premium the firm will add as margin. The firm agrees a pre-money valuation with the founder(s) and makes a proposal to develop their software in exchange for a % of the equity in the company. If both parties agree to terms of the venture proposal, the founder(s) transfer the agreed equity to the firm, typically via an option or an Advanced Subscription Agreement (ASA). The venture firm designs, develops and deploys the agreed software for the startup and maintains/iterates upon it for an agreed period of time. The software engineering team are paid directly by the venture firm from their fund capital or by syndicating a % of the equity to investors in exchange for cash. Why Venture Services is Hard Compared to other forms of venture capital, venture services remains niche. This is primarily due to the complexity of the business model. There are more moving parts, and more factors to align, in a successful venture deal than a conventional investment. Most investors prefer to avoid the additional overheads and responsibilities of being a venture partner. Additional reasons I have observed are as follows: #1: Cashflow In Part One, we explored why venturing can’t be funded by profits from a services business; at least not long-term. Services businesses generate revenue in the form of cash. Venturing is investing, which is deferred revenue. What makes the two irreconcilable is usually the cost base. As software companies are asset-light, the lion’s share of their cost base is payroll. If you have a lot of salaries to pay at the end of each month then you need the cash to pay them. And, if all of your profits are funding ventures, then you are dangerously exposed in a downturn. I have experienced services companies with large workforces all but go bankrupt trying to move into venture. The consequences were drastic and unfortunate, mainly for the employees. So, how can venture firms build software without the overhead of large team of developers and designers? We solve for this at Pivot by mobilising teams on a deal-by-deal basis and working within a tightly managed, fixed cost environment. We generally employ a mixed model, with CPO and CTO working ‘onshore’ (in our case, in London) and UX, design and engineering working ‘near shore’, typically in Eastern Europe. We always seek to build long term partnerships by working with the same individuals across a number of ventures. This creates bonds of familiarity and trust that generate real team effectiveness over time. The costs for the team are rolled into the overall capital raised by the venture firm and then exchanged for equity in the company. #2: Market-size Finding startups that are good investments is hard. Finding startups that are pre-product, pre-revenue a good investment is a treasure hunt of mythical proportions. and It’s hard to accurately size the market for venture services. It be very small based on the ratio of deals we have done versus the opportunities we have passed on. could The downside of working at the highest risk end of the investment spectrum is that it’s, well, risky. Most investors prefer to see proof of market traction. It’s a giant leap of faith to invest in a market for something that doesn’t yet exist. Pivot endeavours to de-risk this by backing founders who sell back into their primary network, at least in the first instance. Ex-lawyers are well positioned to sell lawtech solutions to other lawyers. Ex-marketers selling marketing platforms to their former (marketing) colleagues is a reasonable bet. Unlike hackers, “just some business person” often has the edge when it comes to sales. And sales is the bigger challenge long-term. #3: Culture Venture services firms combine expertise (and application) in two distinct fields: early-stage investment and software product development. Folks from these respective fields come from different places, have different mindsets and speak different languages. Service providers are instinctively inclined to work with whoever wants to work with them. Investors are instinctively sceptical. Service providers are default ‘yes.’ Investors are default ‘no’. I speak from experience when I say that the two are also very differently by founders and the startup community in general. treated Investors are top of the food chain and get treated accordingly. They enjoy high response rates to their emails and meeting requests. They don’t sell or hustle as a rule. Life is different for providers of software services. Much of their time is taken up writing estimates and proposals that go unacknowledged. Their communications are ignored. They have to hustle constantly. Part of the achievement of a venture services firm is finding a common ground for these very different individuals to interact within. This alone is a barrier to entry. TL:DR That’s pretty much all I have to share, so far. As you can probably tell, I’m bullish about the potential of venture (and venture services) as an emerging category within venture capital as a whole. Any other players (or aspiring players) within the space, I’d love to hear from you. : Here’s the TL:DR Venture is still a niche space, primarily due to the complexity of its business model. All equity deals (ie. where startups pay no cash) are the most compelling, differentiated, and potentially lucrative form of venture. Smart founders value the opportunity to onboard an experienced product team at speed and are prepared to trade their equity accordingly. It’s impossible to succeed in venture without access to a pool of capital, typically a fund or syndicate of investors. Keeping overheads as low as possible is key to success. Whilst the value proposition is compelling and the problem large and frequent, the size of the addressable market remains hard to quantify (and may be very small.)

On Venture Services

It is unlikely that the word “contributing” means anything to people who neither work in IT industry nor actively participate in the development of open source projects. However, in the light of recent events, there is every reason to believe that such terms as “contributing” and “contributor” will soon become very popular. You might ask “why?” Let’s start with the common IT terminology. Contributor is a person participating in the implementation and improvement of innovative ideas and promising projects. Contributing is a type of activity aimed at implementing interesting projects to gain experience in this field. Mostly, this means involvement in the process of developing new functions, improving open source projects, and fixing bugs. One of the largest hosting services for contributing to open source projects is GitHub. In the IT field, such activity is usually conducted by volunteers. However, in the Bitbon system, which was developed on the basis of Blockchain applying the smart contract technology, contributing acquired a fundamentally new meaning and became a separate type of business and financial activity. Unlike contributing in the field of investments and IT, contributing in the Bitbon system means the ability to earn money without studying in detail the niche for investment or spending huge amounts of time. A vivid example of unsuccessful investment as well as insufficient analysis of the market situation in an invested niche was the case when News Corp bought out MySpace for $580 million in 2006, at the peak of its popularity. Later, it turned out that MySpace could not withstand competition from Facebook, and the social network was sold again, but this time for only $34 million. In the Bitbon system, the contributor selects an interesting project from those already verified by qualified specialists, which not only increases the return on the contributor’s investments but also saves his/her precious time. It is exactly the reason why contributing can serve both as additional and main source of income — after all, contributors themselves can determine the degree of their involvement in a certain project. In 2009, Blockchain wasn’t internationally recognized, and Bitcoin just began to gain popularity. At that time, probably anyone could have invested in both projects. It is not surprising that, since then, the development and digitalization of economy led to the emergence of new technologically advanced occupations, one of which was contributor.

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