😳 Fyre Festival 2 Is Happening

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Hey Waivly Crew! 🌊 In today’s edition, we’ve got a variety of topics to explore.

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Here’s what’s on the horizon today:

• UK competition watchdog launches Oasis tickets probe

• Fyre Festival founder says sequel event is happening

• US, UK, EU and others sign landmark AI safety treaty

• YouTube develops new tools to combat deepfakes

Let’s dive in!

STORIES MAKING A SPLASH

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UK competition watchdog launches Oasis tickets probe

The UK's Competition and Markets Authority (CMA) has launched an investigation into Ticketmaster following the recent Oasis reunion ticket sales. The probe will focus on Ticketmaster’s use of dynamic pricing and whether it violated consumer laws.

Dynamic pricing adjusts ticket prices based on demand, often resulting in significantly higher costs. Fans of Oasis, who faced long waits in Ticketmaster's virtual queues, reported paying two to three times more for tickets than expected due to this pricing model. The CMA will examine whether the pressure of quick purchase decisions and lack of clear pricing information constituted unfair commercial practices.

While dynamic pricing itself isn’t illegal in the UK, the CMA will assess if Ticketmaster provided transparent and accurate information about how prices fluctuate and whether this approach complies with consumer protection laws.

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Fyre Festival founder says sequel event is happening

The infamous Fyre Festival is officially making a comeback, according to co-founder Billy McFarland, five years after the disastrous event left attendees stranded. McFarland, who spent nearly four years in prison for his role in the 2017 fiasco, told the Wall Street Journal, "Fyre II has to work."

The original festival had promised guests an ultra-luxury experience, with tickets costing up to £9,200. Promotional materials featured supermodels like Bella Hadid and Emily Ratajkowski, offering the allure of fine dining, music, and pristine beaches on a Caribbean island.

However, when festival-goers arrived, they were greeted by a rain-soaked disaster, with makeshift tents and subpar food, including a now-infamous cheese sandwich. The event was later chronicled in the 2019 Netflix documentary, FYRE: The Greatest Party That Never Happened.

AI SPECIAL

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US, UK, EU and others sign landmark AI safety treaty

The United States, United Kingdom, European Union, and several other nations have signed a landmark AI safety treaty from the Council of Europe (COE), a leading human rights organization. Known as the Framework Convention on AI, it was signed in Vilnius, Lithuania, and is the first legally binding agreement aimed at aligning AI systems with democratic values.

The treaty targets three key areas: protecting human rights, including privacy, safeguarding democracy, and upholding the rule of law. It also sets a legal framework for the full lifecycle of AI systems, encouraging innovation while managing risks.

In addition to the US, UK, and EU, signatories include countries like Iceland, Israel, and Norway. The treaty will take effect three months after ratification by five signatories, including three COE member states.

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YouTube develops new tools to combat deepfakes

YouTube is rolling out new tools to protect creators from unauthorized use of their likenesses, including AI-generated content. The company announced that face-detection technology is set to launch next year, helping creators, actors, and musicians identify and manage deepfake videos of their faces.

This upcoming tech will allow individuals to choose how to handle AI-generated versions of their likeness. YouTube aims to give creators control over such content, though no specific release date has been provided for the face detection feature.

Additionally, YouTube plans to incorporate "synthetic-singing identification" into its Content ID system, enabling artists to detect AI-generated versions of their singing voices. YouTube emphasizes that AI should enhance, not replace, human creativity, and remains focused on developing safeguards to protect its partners.

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THE WAVES

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More Stories Surfing The Web

🤖 Elon Musk's AI rivals are alarmed by his new GPU cluster

💰 Snapchat expands ad offerings with 'sponsored snaps'

🏋️‍♂️ YouTube restricts teenager access to fitness videos

💼 Rob Arnott’s new ETF likes market ‘rejects’

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Discover more Waves in the Waivly Community. Click here to get onboard and join the community! 🌊

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