Good morning! This is your daily ☕️ Techpresso.
On this day, 22 years ago, inventor Dean Kamen introduced the Segway, a self-balancing, user weight-controlled personal transporter, on "Good Morning America."
Here's the latest tech news from the last 24 hours:
🍕 Silicon Valley’s $445 million robot pizza revolution that wasn’t
🤔 OpenAI committed to buying $51 million of AI chips from startup... backed by CEO Sam Altman
🤖 ChatGPT is writing legislation now
🚫 Google reveals the next step in its war on ad blockers: slower extension updates
🧬 AstraZeneca ties up with AI biologics company to develop cancer drug
🍕 Silicon Valley’s $445 million robot pizza revolution that wasn’tLINK
Zume Pizza, a Silicon Valley startup, raised $445 million to revolutionize pizza delivery with robots and mobile kitchens, but it was liquidated in 2023 due to overly complex operations and lack of a sustainable business model. Despite innovative ideas like automated pizza-making and 'bake-on-the-way' trucks, Zume failed to create a profitable business, facing challenges like technical difficulties and high costs. Zume's collapse reflects a broader issue in Silicon Valley, where ambitious tech-driven ideas, like Zume's robot-made pizza and advanced delivery systems, struggle to translate into viable, profitable businesses.
🤔 OpenAI committed to buying $51 million of AI chips from startup... backed by CEO Sam AltmanLINK
OpenAI has signed a letter of intent to purchase $51 million in AI chips from Rain, a startup in which OpenAI CEO Sam Altman has personally invested over $1 million. Rain, developing a neuromorphic processing unit (NPU) inspired by the human brain, faces challenges after a U.S. government body mandated a Saudi Arabia-affiliated fund to divest its stake in the company for national security reasons. This situation reflects the potential conflict of interest in Altman's dual roles as an investor and CEO of OpenAI.
🤖 ChatGPT is writing legislation nowLINK
In Brazil, Porto Alegre council passed a law written by ChatGPT that prevents charging citizens for stolen water meters replacement.
The council members were unaware of the AI's use in drafting the law, which was proposed using a brief prompt to ChatGPT by Councilman Rosário.
This event sparked discussions on the impacts of AI in legal fields, as instances of AI-generated content led to significant consequences in the United States.
🚫 Google reveals the next step in its war on ad blockers: slower extension updatesLINK
Google is targeting ad blocker developers with its upcoming Manifest V3 changes, which will slow down the update process for Chrome extensions.
Ad blockers might become less effective on YouTube as the new policy will delay developers from quickly adapting to YouTube's ad system alterations.
Users seeking to avoid YouTube ads may have to switch to other browsers like Firefox or use OS-level ad blockers, as Chrome's new rules will restrict ad-blocking capabilities.
🧬 AstraZeneca ties up with AI biologics company to develop cancer drugLINK
AstraZeneca has partnered with Absci Corporation in a deal worth up to $247 million to develop an antibody for cancer treatment using Absci's AI technology for protein analysis. The collaboration is part of a growing trend of pharmaceutical giants teaming with AI firms to create innovative disease treatments, aiming to improve success rates and reduce development costs. This partnership is a step in AstraZeneca's strategy to replace traditional chemotherapy with targeted drugs, following their recent advances in treatments for lung and breast cancers.
Other news you might like
OpenAI applies for GPT-6, GPT-7 trademarks in China.LINK
Richard Branson won't invest more in Virgin Galactic, focusing on its larger Delta vehicle development, as the company aims for financial self-sufficiency post-COVID.LINK
Apple to allow customizable notification sounds for first time ever.LINK
Tech funds shift towards private equity tactics, focusing on faster cash returns to investors amidst market pressure.LINK
EY reports successful detection of audit frauds by implementing AI algorithms, enhancing accuracy and security in financial reviews.LINK
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