How can AI help you today? (Jakub Porzycki/Getty Images)
How can AI help you today? (Jakub Porzycki/Getty Images)
Hey Snackers,
Have a Coke… movie. Coca-Cola’s breaking into the film biz with a series of short and quirky Christmas flicks. Picture: a vampire love story and talking computers.
Stocks fell yesterday for the fifth straight trading day. Wall Street’s “fear gauge” VIX index was up 10% from last Wednesday, suggesting investors expect more volatility.
“Are you tired of feeling like a robot when you talk to your computer?... Well, fear not, my friend, because chatGPT is here to save the day!” These prosaic lines were written by AI chatbot ChatGPT in response to “Write a humorous article about ChatGPT.”
A trained model… we’re not talking Gisele. In our unexclusive interview with CGPT, the bot told us where its words came from: “As a large language model trained by OpenAI, I have been trained on a massive amount of text data.” After some prodding, CGPT explained that said data is “typically compiled from a wide variety of sources, such as books, articles, and websites.” It essentially uses those text examples to make educated guesses about how to string together an answer. Yet there are concerns about CGPT’s powers. People fear that it’ll kill:
Generative AI is a many-pronged tool… It could be valuable to automate work, though dangerous if it becomes a crutch. Meanwhile, investment is booming. Jasper, a genAI tool largely used for marketing copy, recently hit a $1.5B valuation. (As of October, OpenAI was valued at ~$20B.) And Google is previewing apps that’ll allow people to have their text rendered to images (similar to Dall-E).
Crypto ads are in the spotlight… and investigators are turning up the heat. The Federal Trade Commission's reportedly looking into numerous crypto companies in connection with potentially deceptive or misleading ads. Crypto firms found violating advertising laws could face large fines and be forced to refund customers. There's a lot for the FTC to sift through: crypto brands have shelled out $223M+ on US ads so far this year alone.
Fortune favors the warm… Big spending was the norm before crypto winter kicked off in May. Late last year, Crypto.com said it would pony up $100M for a celeb-infused campaign (picture: Matt Damon insisting "fortune favours the brave"). It also reportedly shelled out $700M on its LA Lakers stadium-naming rights, while FTX splurged for Miami. Meanwhile, Coinbase spent $14M on a single Super Bowl ad. Now:
Big spending doesn't negate big risk… for investors, crypto firms, or celeb promoters. Ad blitzes — like the $60M FTX spent on TV commercials — suggest a biz has cash aplenty and is here to stay, but brand image doesn't always = brand reality. As the FTC moves forward with its investigation, and dozens of investors file claims in bankruptcy court, expect the (more than) once bitten crypto world to be twice as skeptical about future ad splurges.
The most searched term on Google this year is “Wordle”
Authors of this Snacks: own shares of Apple, GM, and Google
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