In 2019, OpenAI Limited Partnership (OpenAI LP) was created as a for-profit entity to commercialize the technology that OpenAI had been working on. But he resigned his board seat in 2018 over issues around the direction of OpenAI, and what were clearly initiatives to create a for-profit entity. Musk was actually a founder of OpenAI established in 2015. Given the size of his audience, his rational and well-thought-out comments are very welcome in this crazy world we have found ourselves in. He’s always lucid, and in the last few years, he hasn’t strayed away from addressing some of the more sensitive topics that have caused so much division. It’s always fun to listen to Musk’s thoughts. Do you think he has a chance to actually pull this off? He also said that he knows he will be getting into the game well behind the competitors. He stated he wants to create a competitor to OpenAI that will NOT be biased. He went on to express his concern for the negative direction already that OpenAI is taking.
Well, we all know now it is NOT a non-profit and is setting the world on fire. He stated it was a non-profit to study the potential negative potential of AI. He stated he was an early originator of OpenAI 10 years ago.
It is excellent, as it seems everything Elon touches is gold. Don’t bet against Elon Musk…Įlon Musk just did a two-part interview with Tucker Carlson. This is an important distinction because it keeps Apple out of potential regulatory scrutiny, but it also gives it the ability to wrap around its customers with even more sticky services. And the bigger play is that Apple is slowly, and quietly, getting into the financial services business… without actually having to be a bank. An amazing product and user interface for consumers, with the backing of Goldman Sachs. Were Goldman ever to experience liquidity problems, the Fed and the federal government would have no choice but to come to its aid. government would never let Goldman Sachs fail. As such, the accounts are insured.Īnd it’s important to remember that Goldman is considered a “systemically important bank.” In other words, it’s too big to fail. The reality is that the accounts may be branded Apple – and users need an Apple credit card to open one – but the accounts themselves will be serviced on the backend by Goldman Sachs. That’s because Apple partnered with none other than Goldman Sachs to offer the new account. But the good news is that Apple’s new savings account is, in fact, secured by the FDIC. So I understand why we would be skeptical right now about a new savings account from a company like Apple. It’s not yet clear if the bank will collapse altogether, but executives say they are “weighing strategic options.” That’s typically an indication that a company is going under and looking for a buyer as quickly as possible. It happened so fast that many people didn’t even know what had transpired until Monday morning…Īnd as I write, regional bank PacWest is imploding. The bank was seized by federal regulators last weekend and sold to JPMorgan in the span of just a few days. It’s a fair question, especially now…Īs I shared with readers on Monday, First Republic Bank has now supplanted Silicon Valley Bank as the second-largest bank failure in American history. Is Apple’s new savings account insured?Īpple offers a 4.15% savings account. If you have a question you’d like answered next week, be sure you submit it right here. All week, you submitted your questions about the biggest trends in tech and biotech. Welcome to our weekly mailbag edition of The Bleeding Edge.
Early adopters of bleeding edge technology are highly valued by companies because they allow unfinished products to be refined much more quickly once a working version is ready. However, the term is more properly applied to the release of beta versions to early adopters for testing purposes. The term bleeding edge is sometimes applied to officially released technology that experiences problems soon after it becomes widely available. This risk could take the form of limited support, uncaught problems and compatibility issues to name a few. Finally, the technology becomes standard and everyone is on the look for the next big thing.īleeding edge technology suggests that a greater degree of risk is involved for the consumers or organizations that adapt it. Bleeding edge technology is on its way to becoming cutting edge technology, after which it becomes leading edge as more companies release competing products. Bleeding edge is part pun and part ranking of the readiness of the technology for market.
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