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  • 😳 TikTok Creators SUE US Government

😳 TikTok Creators SUE US Government

Over violatations of their First Amendment rights

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Hey Waivly Crew! 🌊 In today’s edition, we talk OpenAI chief scientist Ilya Sutskever leaving the company, TikTok creators suing the U.S. government to block the divest-or-ban law, and much more. Let’s dive in!

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OpenAI chief scientist Ilya Sutskever departs

Ilya Sutskever, co-founder and chief scientist at OpenAI, has departed from the company. His exit follows a period of significant internal turmoil triggered by a board decision to remove CEO Sam Altman, a move that led to staff unrest and subsequent restoration of Altman. Sutskever had notably reduced public appearances for OpenAI following Altman's return.

In an announcement on X, Altman confirmed Sutskever's departure and expressed gratitude for his contributions to OpenAI's growth. Jakub Pachocki, the research director since 2017, will succeed Sutskever as chief scientist.

Sutskever, in his own post on X, acknowledged his departure after nearly a decade with OpenAI and hinted at forthcoming projects of personal significance. He expressed confidence in OpenAI's leadership to advance toward safe and beneficial AGI, emphasizing a positive outlook for the future.

CoinShares posts record revenue in Q1

CoinShares, a leading European asset manager, achieved record-breaking performance in Q1 2024 following the launch of Bitcoin ETFs and market recovery. Revenue soared to Β£19.5 million ($24.5 million), up by 216% from the same period in 2023, with gains totaling Β£24.4 million ($30.6 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to Β£34.2 million ($43 million), a remarkable increase from Β£7 million ($8.8 million) in the previous year, resulting in a substantial fourfold rise. The company's CFO, Richard Nash, noted an EBITDA margin of 78%, approaching levels seen in 2021.

Nash detailed the revenue breakdown: 45% from asset management, 40% from capital markets, and 15% from principal investments. CoinShares also recorded management fees of Β£19.5 million ($24.5 million), its second-highest ever reported, trailing only the Q4 2021 figures.

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The Waves

πŸŽ₯Β Google unveils AI video generator Veo

πŸ‘€ Meta explores AI-assisted earbuds with cameras

πŸš€Β Google announces the upcoming arrival of Gemma 2

🀝 Airtel partners with Google Cloud for GenAI solutions

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Tech Special

Eight TikTok creators are suing the U.S. government over a law compelling ByteDance, TikTok's Chinese owner, to sell the app or face a U.S. ban, citing First Amendment violations. Attorney Davis Wright Tremaine shared details of the filing, emphasizing the law's threat to free speech and communication mediums.

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The lawsuit underscores the potential stifling of expression and economic impact on creators. TikTok, in a similar lawsuit, argues divestment is unfeasible due to technological and legal constraints. President Biden signed the legislation amid concerns about TikTok's data practices and national security risks.

Among the plaintiffs is Brian Firebaugh, a Texas rancher who relies on TikTok income to support his family, highlighting the profound consequences of a TikTok ban on creators' livelihoods and freedom of expression.

Google unveiled Project Astra at its I/O developer conference, aiming to create a universal AI agent. Demonstrated in its early stage, Astra strives to be a multimodal assistant, understanding the world and aiding in tasks in real-time. The company is still developing Astra, with some features expected to be integrated into its Gemini assistant soon.

Project Astra, or Advanced Seeing and Talking Responsive Agent, enhances user interaction by comprehending surroundings and providing accurate responses. Google showcased prototypes identifying objects, understanding code, and even offering personalized suggestions in real-time.

Though significant progress has been made, achieving human-like response times remains a challenge. Google tackles this by continuously processing video frames to improve its agents' performance.

Waivly Work Highlights

πŸ‘©β€πŸ’»Β Senior Full-stack Developer (React/PHP) at SD Solutions

πŸ‘©β€πŸ’»Β Senior DevOps Engineer at Horizen Labs

πŸ‘©β€πŸ’»Β Accountant, Finance at Orderly Network

πŸ‘©β€πŸ’»Β Financial Data Analyst at Quadcode

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