OpenAI Hits Back

OPENAI: Responds to Lawsuit

On Monday, OpenAI, the company behind ChatGPT, responded to a lawsuit by The New York Times alleging copyright infringement. The lawsuit, initiated in December against Microsoft and OpenAI, claims the companies used the Times' journalistic content in ChatGPT's training data, seeking billions in damages.

OpenAI countered in a statement, arguing that their training methods constitute fair use and highlighting their collaboration with news organizations. They acknowledged the issue of 'regurgitation' of content as a rare problem they are working to fix.

This case is part of a series of recent legal challenges against AI companies. OpenAI faced earlier lawsuits from U.S. authors over using their works in ChatGPT's training. Similarly, Getty Images and others have sued companies like Stability AI for unauthorized use of images in training data in the AI imagery sector.

Microsoft, GitHub, and OpenAI face a 2022 class action lawsuit for allegedly using licensed code to train their AI code generators. These lawsuits are among numerous ongoing legal cases related to generative AI technology.

🎯 GRIT TAKE: The implications of this lawsuit…upgrade to VIP to read the full GRIT Take. 

OPENAI: Responds to Lawsuit

On Monday, OpenAI, the company behind ChatGPT, responded to a lawsuit by The New York Times alleging copyright infringement. The lawsuit, initiated in December against Microsoft and OpenAI, claims the companies used the Times' journalistic content in ChatGPT's training data, seeking billions in damages.

OpenAI countered in a statement, arguing that their training methods constitute fair use and highlighting their collaboration with news organizations. They acknowledged the issue of 'regurgitation' of content as a rare problem they are working to fix.

This case is part of a series of recent legal challenges against AI companies. OpenAI faced earlier lawsuits from U.S. authors over using their works in ChatGPT's training. Similarly, Getty Images and others have sued companies like Stability AI for unauthorized use of images in training data in the AI imagery sector.

Microsoft, GitHub, and OpenAI face a 2022 class action lawsuit for allegedly using licensed code to train their AI code generators. These lawsuits are among numerous ongoing legal cases related to generative AI technology.

🎯 GRIT TAKE: The implications of this lawsuit will be huge for the artificial intelligence space. Spotify is the first that comes to mind when we think of music streaming services. However, Napster was the original streaming service that was led by great founders. However, they went bankrupt due to the same type of lawsuits that OpenAI faces. The main difference between Napster and OpenAI is that OpenAI has a plethora of cash and Microsoft as a partner. OpenAI has to figure out how to navigate these legal challenges so they don’t end up like Napster.

BOND KING: Weighs In On Market

The "bond king" Bill Gross, who accurately predicted yield trends last year, advised avoiding Treasuries, labeling ten-year U.S. government bonds as "overvalued." He recommends Treasury Inflation-Protected Securities with a 1.80% yield instead, although he personally is not investing in them.

Gross, a Pacific Investment Management Co. (PIMCO) co-founder, profited huge last year from betting on Federal Reserve rate cuts. Despite a slight drop in ten-year Treasury yields to 4.02% recently, Gross suggests that shorter-term notes might be a better option for bond market investors. Gross recently recognized the success of his investment recommendations, noting the growth in regional bank stocks and mortgage REITs he suggested six months ago and in December. The SPDR S&P Regional Banking ETF (KRE) surged 49% since May, and the iShares Mortgage Real Estate ETF (REM) gained 21% from its October low.

BOEING: More Bad News

Boeing faces even more setbacks following the recent mid-air emergency on an Alaska Airlines flight. Alaska Air and United Airlines have discovered additional loose bolts during inspections of their grounded Boeing 737 Max 9 planes. The National Transportation Safety Board's Chair has indicated the possibility of expanding investigations to include other Max 9 models beyond the one involved in the incident.

Such an extended inquiry could delay Boeing's efforts to return these aircraft to service and prevent a prolonged grounding. On Tuesday, Boeing executives are organizing a company-wide safety meeting for all employees. The "Safety Webcast," led by CEO Dave Calhoun and other top executives, will be broadcast from the company's Renton, Washington factory, the production site for the 737 Max jets.

Headlines You Need To Know: 🎙

• Unity Software to lay off 25% of staff

• Blackstone raises $1.3 billion in new fund

• Chinese billionaire is the second-biggest foreign owner of US land

• Shein’s revenue is a lot more than $30 billion annually

• Samsung warns fourth-quarter profit could plunge

• iPhone survives 16,000-foot fall

Tiger Woods x Nike

In 1996, the sports and business worlds were captivated by the beginning of one of the most iconic partnerships: Tiger Woods and Nike. This historic alliance redefined athlete-brand relationships and profoundly impacted the sport of golf. Woods entered a groundbreaking deal with Nike, reportedly worth $40 million over five years, reflecting his potential to revolutionize the sport.

As Woods ascended to prominence, his success propelled Nike's aggressive expansion into the golf market. This partnership led to significant financial gains for both parties, with Woods playing a pivotal role in elevating Nike Golf into a multi-million dollar business by the early 2000s.

Tiger's golf dominance and soaring marketability resulted in lucrative contract renewals with Nike. This included a reported $100 million deal in 2001 and another substantial extension in 2013, underscoring his value to the brand despite personal and professional challenges.

On January 8th, 2024, this remarkable partnership came to a close. The end of this era marked the conclusion of a groundbreaking and financially successful collaboration that has transformed the landscape of sports marketing.

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📊 Psychology Of A Market Cycle 

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