😳 Microsoft & Apple Drop OpenAI Board Seats

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Hey Waivly Crew! 🌊 In today’s edition, Microsoft and Apple step back from OpenAI’s board amid regulatory scrutiny. Plus, the Department of Energy revisits its survey on energy use in U.S. crypto mining.

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Here’s what’s on the horizon today:

• Samsung launches foldable phones with enhanced AI

• Microsoft and Apple drop OpenAI board seats

• Goldman Sachs to launch 3 new tokenization products

• How to start a career in Web3

• DOE prepares for take two of crypto mining survey

Let’s dive in!

STORIES MAKING A SPLASH

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Samsung launches foldable phones with enhanced AI

Samsung unveiled its latest foldable phones at its annual Unpacked event in Paris, showcasing the Galaxy Z Fold 6 and Galaxy Z Flip 6. These devices emphasize AI integration, promising enhanced user experiences with lighter designs and improved durability.

Both models feature upgrades like a more robust hinge, extended battery life, and Qualcomm's Snapdragon 8 Gen 3 processor optimized for AI tasks. The Galaxy Z Fold 6 unfolds into a tablet-like display, while the Galaxy Z Flip 6 adopts a nostalgic flip phone design.

Despite advancements, pricing remains a hurdle, with the Galaxy Z Fold starting at $1,899.99 and the Z Flip at $1,099.99. Industry analysts suggest that while foldable shipments are increasing, they still account for less than 3% of total smartphone sales, highlighting ongoing challenges in mainstream adoption.

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Ankord

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Microsoft and Apple drop OpenAI board seats

Microsoft, the main supporter of ChatGPT-maker OpenAI, is leaving its advisory role on OpenAI’s board amid US and European scrutiny of Big Tech’s influence on AI startups. Apple, set to join OpenAI’s advisory board after integrating ChatGPT into its products, also withdrew, as reported by the Financial Times.

OpenAI and other AI startups like Anthropic, driven by innovations such as ChatGPT, shook up the tech industry last year. Analysts suggest these newcomers could challenge giants like Microsoft but rely heavily on their funding for costly AI development. Algorithms like ChatGPT require expensive computing hardware.

Microsoft’s large investment in OpenAI in early 2023, along with Google and Amazon’s support for Anthropic, has drawn regulatory attention. In January, the Federal Trade Commission launched an investigation into whether these partnerships stifle AI competition.

WEB3 SPECIAL

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Goldman Sachs to launch 3 new tokenization products

Goldman Sachs plans to launch three new tokenization products in the US and Europe later this year due to increasing client interest in crypto. According to Fortune, Mathew McDermott, the bank’s digital assets head, revealed these plans in an interview on July 10. The products will focus on tokenized real-world assets and target financial institutions using permissioned blockchains for enhanced speed and asset variety.

McDermott attributed the crypto momentum to the rise of digital asset exchange-traded funds (ETFs), with nearly a dozen Bitcoin ETFs approved since January. In the US, funds specializing in tokenized money market instruments, like BlackRock’s BUIDL fund with $500 million in assets, are gaining traction.

Looking ahead, Goldman Sachs anticipates further growth in crypto opportunities pending potential regulatory shifts following the US presidential election.

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How to start a career in Web3

Looking to start a career in Web3? 🚀 Our comprehensive guide has everything you need to thrive in this dynamic field - from mastering fundamentals to exploring career paths and networking like a pro

Start your Web3 journey now at Work.Waivly.com! 🙌

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DOE prepares for take two of crypto mining survey

The Department of Energy is revisiting efforts to create a survey on energy consumption from proof-of-work crypto mining in the U.S., following legal challenges earlier this year. The Energy Information Administration recently began public discussions led by Steve Harvey to refine the survey's design.

In February, the DoE faced legal action over a previous survey deemed to overreach emergency powers. The agency subsequently scrapped the data collected and committed to collaborating more closely with industry stakeholders on a new survey.

Harvey highlighted three pivotal questions in the ongoing design process: industry priorities on energy use, necessary data points, and potential alternatives or cost-saving measures. The finalized survey will undergo DoE approval and enter a public comment phase before implementation.

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THE WAVES

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More Stories Surfing The Web

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🚫 Thousands of Samsung workers are striking indefinitely

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

SAIL INTO A NEW CAREER

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Waivly Work Highlights

👩‍💻 Governance Project Manager at Polygon

👩‍💻 Korean Content Curator at Duolingo

👩‍💻 Senior PHP Developer at GR8 Tech

👩‍💻 Product Design Lead at OpenSea

BACK TO THE SHORE

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That wraps up today’s newsletter

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