NY TIMES: Sues OpenAI and Microsoft

The New York Times has launched a legal challenge against Microsoft and OpenAI, the creators of the popular AI chatbot ChatGPT, alleging copyright infringement and misuse of the newspaper's intellectual property in developing sophisticated language models.

Filed in the U.S. District Court for the Southern District of New York, the lawsuit by the publisher demands accountability from Microsoft and OpenAI for what it describes as "billions of dollars in statutory and actual damages" due to the "unlawful copying and use of The Times’s uniquely valuable works."

In a statement distributed via email, The Times expressed its recognition of the "power and potential of GenAI for the public and for journalism." However, it emphasized that journalistic content should only be used commercially with proper authorization from the original source.

This action by The Times is part of a broader movement among various media outlets. These organizations are seeking financial compensation from the entities behind advanced AI models, alleging the unauthorized use of their content for training these AI systems.

To address the concerns of news publishers, OpenAI announced a partnership with Axel Springer in December. This agreement, involving the parent company of publications like Business Insider, Politico, Bild, and Welt, will see Axel Springer licensing its content to OpenAI for a fee.

🎯GRIT TAKE: This lawsuit represents one of the biggest…upgrade to VIP to read the full GRIT Take.

APPLE: Wins Temporary Legal Battle

Apple has regained the ability to sell its latest versions of the Apple Watch following a decision by an appeals court to halt an import ban temporarily. This move is a key legal victory for the tech leader.

The company announced that the Apple Watch Series 9 and Ultra 2 models, which include a blood oxygen feature, will be back on shelves at Apple’s retail locations starting Wednesday. Online sales for these models are set to begin on Thursday.

This development follows Apple's decision to stop selling the Series 9 and Ultra 2 models in its stores and online last week. This action was in response to an International Trade Commission order from October, which found that the blood oxygen sensors in these watches infringed on patents held by Masimo, a medical technology company primarily serving hospitals.

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LOANS: Students Aren’t Paying

According to the Department of Education, millions of student borrowers are not meeting their monthly loan repayment obligations. This situation arose as federal student loan payments recommenced in October, following a prolonged pause due to the pandemic and an unsuccessful bid by President Joe Biden for extensive forgiveness of these loans. The Education Department reports that approximately 40% of borrowers missed their first payment after this resumption.

The total amount of student loan debt in the U.S. has now surpassed $1.7 trillion, surpassing both credit card and auto loan debts in terms of the financial burden on Americans.

There has been a notable increase in the average student loan balance at the time of graduation, which has tripled since the 1990s. It has escalated from $10,000 to $30,000. Furthermore, around 7% of students with student loans are over $100,000 in debt.

Headlines You Need To Know: 🎙

• Biden Administration’s Medicare drug price fight faces major tests

• Treasury yields rise as investors consider outlook

• European stocks are muted

• Apple is chasing the ultimate healthcare watch. It could take years.

• Big battles loom in SEC’s war on crypto

• Soft landing talk prompts 1990s flashback

• China wants to move ahead, but Xi is looking at past

Jerry Jones and The Dallas Cowboys

Before the world knew him as the most valuable sports franchise owner, Jerry Jones made his fortune in oil and gas exploration, demonstrating an innate ability to identify and capitalize on opportunities. Fast forward a few years, and everything will change. The year was 1989. The Dallas Cowboys, a team once at the pinnacle of NFL success, were experiencing a decline. Jerry Jones saw an opportunity to own a team and revitalize a legacy.

With a staggering $140 million, he purchased the Cowboys, marking one of the largest transactions in sports history at the time. This move was met with skepticism and shock. Critics questioned the wisdom of investing such a massive sum in a struggling team.

But Jerry Jones was undeterred. He believed in the potential of the Cowboys. He made bold changes in management and coaching, bringing in Jimmy Johnson, a move that initially raised eyebrows but soon proved to be a stroke of genius. The team's fortunes began to turn, and under Jones's leadership, the Cowboys won three Super Bowl championships in four years.

Jones's impact extended beyond the field. He transformed the Cowboys into a global brand, pioneering the way sports teams engage in marketing and merchandising. His vision reshaped not only the Dallas Cowboys but the entire professional sports landscape.

Chart of the Day

📊 Banks Unrealized Losses Grew in Q3:

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