😳 Elon Musk Drops OpenAI Lawsuit

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Hey Waivly Crew! 🌊 In today’s edition, Elon Musk withdraws his lawsuit against OpenAI and CEO Sam Altman. Meanwhile, a dormant Bitcoin whale awakens, moving 8,000 BTC worth $536.5 million.

‎‎‏‏‎ Here’s what’s on the horizon today:

• Elon Musk threatens to ban Apple devices from his companies

• Dormant Bitcoin wallet moves $536M after 5 years

• Elon Musk withdraws his lawsuit against OpenAI

• Light introduces its latest minimalist phone

Let’s dive in!

STORIES MAKING A SPLASH

^_AI
Elon Musk threatens to ban Apple devices from his companies

Elon Musk, CEO of Tesla and SpaceX, threatened to ban Apple devices from his companies after Apple announced a partnership with OpenAI. Musk expressed concerns about user privacy and security, calling the integration of Apple and OpenAI software an "unacceptable security violation."

Apple's announcement included an update to its voice assistant Siri, which now incorporates OpenAI's ChatGPT chatbot. While Apple assures users that their information will not be logged without permission, Musk criticized Apple's reliance on OpenAI for AI capabilities.

Musk specifically warned of a ban on Apple devices if the integration extends to Apple's operating system. He directly addressed Apple CEO Tim Cook, urging him to halt what Musk described as "creepy spyware" or face restrictions on Apple devices at his companies' premises.

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The Daily Munch

^_CRYPTO
Dormant Bitcoin wallet moves $536M after 5 years

After over five years of dormancy, a Bitcoin whale moved 8,000 BTC, valued at $536.5 million, from a Coinbase cold storage wallet. The transfer occurred on June 11 at 1:26 pm UTC, with the entire stash sent to a Binance deposit address shortly after, according to Arkham Intelligence.

The original accumulation of 8,000 Bitcoin happened through multiple transfers in 2018, mostly in batches of 200 BTC. Dormant addresses with significant holdings becoming active often suggest potential selling, particularly if the funds move to an exchange deposit address.

While it remains uncertain if the whale cashed out, the transfer marked a staggering 1,700% increase from the acquisition price of $3,750 in 2018. Recent activity among Bitcoin whales includes other substantial transfers, indicating potential shifts in the market.

TECH SPECIAL

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Elon Musk withdraws his lawsuit against OpenAI

Elon Musk has withdrawn his lawsuit against OpenAI and CEO Sam Altman, which accused the company of deviating from its mission and breaching a contract. The case, initially filed in a California state court in February, was dismissed without prejudice.

Musk's decision came just before a scheduled hearing where the judge would review OpenAI's motion to dismiss. This move follows Musk's earlier threats to ban Apple devices at his companies if OpenAI's tech was integrated into Apple products.

The lawsuit claimed OpenAI violated an agreement to remain nonprofit and keep its tech open source. OpenAI denied Musk's allegations, asserting he sought "absolute control" by merging it with Tesla. Meanwhile, Musk's own AI venture, xAI, has raised $6 billion to develop its AI chatbot, Grok, which recently made headlines for allegedly diverting Nvidia H100 AI chips from Tesla to xAI.

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Light introduces its latest minimalist phone

Amid Apple's push for smartphone innovation, Light has unveiled the Light Phone III, a minimalist device in a sea of feature-packed gadgets. Ditching its previous e-paper screen for a sleek OLED display, it remains dedicated to core phone functions, devoid of social media or internet access. However, it includes essentials like a camera, NFC for payments, navigation tools, music player, texting, and a calendar.

With a larger yet compact design, reminiscent of the Rabbit R1 but more serious, it lacks AI integration but offers an analog scroll wheel for navigation. Light emphasizes privacy by securing navigational data and provides a basic camera for functional use.

However, its $800 price tag, double that of its predecessor, might deter buyers seeking simplicity. Deleting intrusive apps on existing smartphones remains a cost-effective alternative, albeit challenging.

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THE WAVES

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