Thursday, October 19, 2023

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☕️ Elon Musk admits Telsa "Dug our own grave" with Cybertruck

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This is your daily dose of ☕️ Techpresso, where you get the latest tech news of the day effortlessly.

Here's the latest tech news from the last 24 hours:

🚗 Tesla's Cybertruck challenges highlighted by Musk
🤖 OpenAI’s Sam Altman is working with Jony Ive, but they aren’t making a smartphone
⚖️ New York Attorney General sues crypto firms in $1 billion fraud case
🍃 Sequoia Capital faces scrutiny over China tech investments
🚕 GM, Cruise and Honda to launch robotaxi service in Japan
🎵 YouTube may soon let musicians lend their AI voices to creators

🚗 Tesla's Cybertruck challenges highlighted by MuskLINK

  • Tesla, the electric vehicle manufacturing company, is set to begin production of its unconventional pickup, the Cybertruck, stated CEO Elon Musk.
  • First unveiled in 2019, the Cybertruck features a distinctive Martian-designed exterior made of unpainted stainless steel panels, and it was promoted as having bulletproof properties.
  • CEO Elon Musk has acknowledged potential obstacles ahead as the company navigates the process of scaling the Cybertruck's production.
  • 🤖 OpenAI’s Sam Altman is working with Jony Ive, but they aren’t making a smartphoneLINK

  • OpenAI CEO, Sam Altman, has confirmed that they are not planning to compete with the smartphone market, despite rumors linking the company with former Apple design chief, Jony Ive.
  • A recent report suggested Altman and Ive were collaborating on a device referred to as the "iPhone of artificial intelligence", aiming to provide a more intuitive way to interact with AI.
  • Although the precise nature of the speculated product remains unclear, Altman has reiterated that while he admires the smartphone's capabilities, he does not wish to directly contest in that space.
  • ⚖️ New York Attorney General sues crypto firms in $1 billion fraud caseLINK

  • New York Attorney General, Letitia James, has sued cryptocurrency firms Gemini Trust, Genesis Global Capital, and Digital Currency Group, accusing them of defrauding investors of over $1 billion.
  • The lawsuit alleges that Genesis’ loans were undersecured and concentrated with Alameda Research, and during a digital asset value crash, investors were unable to reclaim hundreds of millions of dollars in cryptocurrency.
  • Gemini and Genesis are alleged to have hidden the risks of investment and the severity of the financial condition from their investors, leading to the Attorney General seeking to permanently stop them from engaging in any business related to the purchase and sale of securities and commodities within or from New York.
  • 🍃 Sequoia Capital faces scrutiny over China tech investmentsLINK

  • Sequoia Capital, a major Silicon Valley investment firm, has been requested by Congress to explain how it plans to prevent further U.S. investment from advancing Chinese interests.
  • The firm recently split into three parts, including a Chinese division, in what appeared to be an anticipation of a legal requirement to divest from certain Chinese business lines.
  • The Select Committee on the Chinese Communist Party has asked Sequoia to provide details on its investments in companies based in China and how it would react if a portfolio company were placed on a U.S. sanctions or trade restriction list.
  • 🚕 GM, Cruise and Honda to launch robotaxi service in JapanLINK

  • GM, Cruise and Honda are aiming to launch a driverless ride-hailing service in Japan by early 2026, using the companies' jointly developed Cruise Origin electric shuttle van.
  • The joint venture hopes to solve Japan's ongoing driver shortage and could serve as an alternative for those unable to use Tokyo's extensive train and subway system.
  • The plan is to start with dozens of Cruise Origins in central Tokyo before expanding the fleet to 500 vehicles and extending the service area beyond the city center.
  • 🎵 YouTube may soon let musicians lend their AI voices to creatorsLINK

  • YouTube is reportedly developing an artificial intelligence tool capable of imitating the voices of renowned recording artists.
  • The company's negotiations with recording companies concerning specifics, including monetization and the artists' ability to opt in/out, are progressing slowly.
  • Despite potential legal hurdles, recording companies are open to the concept as they view the use of AI in music to be inevitable.
  • Other news you might like

    Universal Music sues AI firm Anthropic for copyright infringement, alleging unpermitted use of lyrics by its AI chatbot, Claude.LINK

    FCC proposes to restore net neutrality and regulate ISPs under common-carrier provision, calls for public comment.LINK

    Rapper Pras Michel seeks new trial, claiming his defense was burdened by his lawyer's reliance on an experimental AI program.LINK

    "IBM Consulting expands AWS partnership, applying generative AI to enhance contact centers and supply chains, whilst training 10,000 consultants on AWS AI services."LINK

    Foxconn, Apple's major supplier, aims to specialize in 'specialty chips' for automotive and IoT sectors rather than pursuing dominance in cutting-edge chips.LINK

    Nokia plans to eliminate up to 14,000 jobs, streamline operations, and reduce costs by 1.2 billion euros after a 69% profit drop.LINK

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