Tech Elite Meltdown in NYC, Meta's AI Power Move, and Billionaire Wedding in Venice: OWITH.ai Podcast Recap

OWITH.ai - Only What's Important to Hear around AI and Tech

Good morning from OWITH.ai: the podcast that gives you only what's important to hear in AI and tech world.The election of Zohran Mamdani as a mayoral candidate in New York City has caused a meltdown among the tech elite, with some comparing the city to San Francisco. Mamdani, a self-proclaimed socialist, has proposed policies such as government-run grocery stores and freezing rent hikes, which has sparked backlash from tech figures like Tyler Winklevoss. The reaction mirrors the contempt that the tech elite have directed at San Francisco in the past. However, it remains to be seen how the New York tech scene will respond to Mamdani's election, as technology issues were not a focus during the primary. Despite the uncertainty, there is confidence that New York City will continue to thrive and reinvent itself under new leadership.Meta, formerly known as Facebook, has hired four researchers from OpenAI to join their "superintelligence" team, despite previous claims by OpenAI CEO Sam Altman that Mark Zuckerberg failed to recruit their talent. Meta has been aggressively acquiring talent in the AI space, including bringing on high-profile leaders like Daniel Gross and Nat Friedman. Additionally, Meta is in talks to acquire AI voice startup PlayAI, indicating their commitment to dominating the AI field. Apple's movie "F1" had a successful opening weekend at the box office, generating $55.6 million in ticket sales in the U.S. This marks Apple's first box office hit, although it comes after a string of underperforming films. Apple's entertainment arm is crucial to its strategy of diversifying revenues and producing content for its devices.Tech billionaires gathered in Venice to celebrate the wedding of Amazon founder Jeff Bezos to Lauren Sanchez. The guest list included Bill Gates, Sam Altman, Amazon CEO Andy Jassy, and former Google CEO Eric Schmidt, among others. The intimate wedding included tech billionaires as well as Hollywood celebrities and sports figures. Other tech news includes a $100 million deal between a nuclear company and Palantir to develop AI software for nuclear power, Nvidia nearing a $4 trillion valuation, American Airlines experiencing delays due to an IT glitch, Microsoft unveiling an AI diagnostic tool for radiology, Elon Musk making changes at Tesla amid declining EV sales, and OpenAI renting Google's TPUs for their ChatGPT model. HP and Juniper Networks have also reached a settlement with the U.S. DOJ regarding antitrust concerns.The text discusses various topics, including conversations with economist Nouriel Roubini, Carlyle's David Rubenstein, and Kraken's Arjun Sethi about the future of wealth. Roubini predicts 8% GDP growth due to a tech-driven renaissance, while Rubenstein emphasizes measuring wealth by health and longevity. Sethi discusses the democratization of access to capital through crypto. The text also mentions the looming tariff deadline, tax cuts, and tariff news, as well as Trump's attacks on Powell and insider sales at Nvidia. The markets are analyzed, with S&P 500 futures rising and various global market updates provided. Analyst notes from UBS, Goldman Sachs, and Pantheon MacroEconomics are also included. Watercooler chat covers topics such as investors exiting U.S. bond funds, Victoria's Secret's stock drop, Twilight superfans buying Bella Swan's house, and a Gen X CEO's loyalty to one company for 35 years. The email concludes with information about CEO Daily's editors and contact details.

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