🗿 Would You Go to Space?

Today’s No FOMO newsletter is brought to you by…

GM. It’s the last day of June. You know what that means. Hot girl summer is in full effect.

A lot unfurling in tech this week as Open AI battles another lawsuit and Infection AI scoops a billion-dollar-plus bag.

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

No FOMO News 📰 : South Korea Passes Inaugural Standalone Crypto Bill ✍️

No FOMO 🗿 : OpenAI Accused of Violating Copyright Laws to Train AI 🦿

Weekend Alpha What to Watch 👀 : Fidelity Joins Push For Bitcoin ETF 📈

AI Intel 🤖 : How AI Decides Your IG Feed 📷

Group Chat Debate ⚖️ : Would You Go to Space? 👨‍🚀

This is Financial Advice 🤑 : Don’t F*ck with the Orcas 😮‍💨

No FOMO News 📰

• South Korea Passes Inaugural Standalone Crypto Bill After Spate of Scandals (Bloomberg)

• UK crypto bill reaches final stage, on track for passage (Cointelegraph)

• Blockchain Association joins Coinbase in pushing back against SEC over crypto crackdown (Forkast)

• Mastercard’s MTN network is groundbreaking, but crypto connection is unclear (Cryptoslate)

• Germany to reject Binance's bid for a cryptocurrency licence - source (Reuters)

• Blockchain Australia CEO calls for unified efforts to stamp out crypto scams (Cointelegraph)

• Crypto offers Africans a ‘lifeline’ from inflation and corruption, say execs (Cointelegraph)

• Chinese Firms Using Digital Yuan (CBDC) to Pay Electricity Bills (Cryptonews)

Open AI Battles a Lawsuit 👨‍⚖️

A lawsuit says OpenAI violated US authors' copyrights to train AI chatbots.

What you need to know:

• OpenAI is being sued by authors who allege that the company infringed on their copyrights by illegally downloading hundreds of thousands of books to train its AI system.

• The authors say that ChatGPT, OpenAI's AI chatbot, can generate summaries of their novels when prompted, which is only possible if ChatGPT was trained on their copyrighted works.

• They also allege that OpenAI's large language models infringe on derivative works made without their permission and in violation of their copyrights.

• The suit seeks a court order that OpenAI stop using the authors' works and pay damages.

Legal challenges to generative AI companies:

• OpenAI faces several legal challenges over the material used to train its AI systems.

• Getty Images has also sued AI art generator Stable Diffusion for copyright infringement.

• In a May hearing before Congress, key players in Hollywood argued in favor of legislation to bar the rampant, unpermitted collection of their works to train AI systems.

What's next?

• It remains to be seen how the courts will rule on these cases.

• However, the legal challenges facing generative AI companies highlight the growing importance of copyright law in the age of artificial intelligence.

Additional details:

• The authors' lawyer, Joseph Saveri, says the case is "a landmark case that will have a significant impact on the future of AI."

• OpenAI and Microsoft have not yet responded to the lawsuit.

• The AI community is closely watching the case, as it could have looming implications for developing and using AI systems.

Weekend Alpha – What to Watch 👀 

Bitcoin??

• Fidelity joins push for spot bitcoin ETF (CNBC)

• Bitcoin Cash Surges 110% In A Week (Unchained)

AI Intel 🤖

• Inflection AI raises $1.3B in funding led by Microsoft and Nvidia (Cointelegraph)

• Experts scoff at UK Lords' suggestion that AI could one day make battlefield decisions (The Register)

• US antitrust enforcer says generative AI 'raises competition concerns' (Reuters)

• Meta Explains How AI Determines What You See on Instagram (PetaPixel)

• The first fully A.I.-generated drug enters clinical trials in human patients (CNBC)

• Is Steam Rejecting PC Games Created With Generative AI? (Decrypt)

• Microsoft president goes to Europe to shape AI regulation debate (Reuters)

Group Chat Debate ⚖️

Virgin Galactic successfully launched a “Space Tourism” flight yesterday. Not that it’s an option for most of us, but would you go if you could?

This IS Financial Advice 🤑

We’re not sure why, but Orcas seem mad at humans.

Maybe the Orcas are trying to tell us to stop making robot overlords that will take over the world. Or maybe they’re tired of getting hunted by assholes?

Good luck out there on the seas this summer, or just don’t go to the ocean it’s not that hard lol

Shameless Shill + Alpha

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