Podcast Summary
Innovative approaches in thematic investing and bed manufacturing: Schwab's thematic investing simplifies trend investing, while Hestons creates comfortable, temperature-regulating beds
Schwab and Hestons offer unique solutions in their respective fields. Schwab's thematic investing allows individuals to easily invest in emerging trends by curating relevant stocks into themes, while Hestons provides high-quality natural material beds designed to help regulate body temperature and ensure comfort during sleep. Kara Swisher shared her experience interviewing Bill Maher, discussing his polarizing nature and the interesting conversation they had. She also mentioned her hectic travel schedule and upcoming appearance on The View, expressing her nervousness about the intelligent panel of hosts. Overall, this discussion highlights the innovative approaches of Schwab and Hestons in their industries and Kara Swisher's experiences in media and interviewing notable figures.
Bill Maher's Emphasis on Positivity and Live Nation's Monopoly Allegations: Bill Maher encourages focusing on positivity while dealing with negatives, but was criticized for negativity. The Justice Department is suing Live Nation for monopoly over live entertainment industry, with potential implications for the industry and antitrust landscape.
Bill Maher, during his recent show appearance, emphasized the importance of focusing on the positive aspects of life instead of dwelling on its negatives. He shared his personal struggle with this and praised comedian and role model, Louie, for his fearless and positive outlook. However, their conversation took a turn when Louie criticized Maher for being too negative. Despite this, Maher remains a source of inspiration for many with his resilience and dedication to his craft. In other news, the Justice Department is expected to sue Live Nation for allegedly holding a monopoly over the live entertainment industry. The outcome of this case could have significant implications for the industry and the broader antitrust landscape. While the details of the allegations are not yet clear, it seems that the government may be focusing on Live Nation's control over venue sites and its response to the botched Taylor Swift tour rollout. It remains to be seen how this situation will unfold, but some experts believe that the scrutiny alone could lead to changes in behavior within the industry.
Merger of Live Nation and Ticketmaster faces antitrust scrutiny over ticket price increases: The merger between Live Nation and Ticketmaster may face antitrust investigation due to consumer harm allegations, specifically regarding ticket price increases. Live Nation, with a dominant market share in live events, may be forced to divest from Ticketmaster if they cannot prove they have not violated antitrust laws.
The merger between Live Nation and Ticketmaster may face antitrust scrutiny due to consumer harm allegations, specifically regarding ticket price increases. With Live Nation having a dominant market share in live events, the company may be forced to divest from Ticketmaster if they cannot prove they have not violated antitrust laws by forcing venues and events to use their ticketing service. The European Union's stricter laws on scalping and ticket pricing add complexity to the situation, and the government may rely on high-profile cases like Taylor Swift's ticket debacle to make their case. The difficulty for Ticketmaster will be proving that there is competition in the ticketing market, as there are various players involved. Consumer anger towards high ticket prices adds fuel to the antitrust investigation.
Content Companies Monetize Large Language Models: Content companies like News Corp are partnering with LLMs for revenue, worth potentially high gross margins, as they recognize the value of their data and expertise.
The relationship between content companies and Large Language Models (LLMs) like OpenAI is evolving, with media companies starting to demand payment for the use of their content. OpenAI has recently struck a deal with News Corp, the owner of publications such as The Wall Street Journal and New York Post, to use their content for training chatbots, reportedly worth over $250 million over five years. This comes after several copyright infringement lawsuits against OpenAI by various newspapers. The precedent set by these deals could lead to higher-margin revenue streams for content companies, whose revenue mixes are often low margin due to the expense and difficulty of long-form journalism. The journalistic expertise shared by News Corp is likely seen as less valuable to OpenAI. The top-line number of this revenue may not be significant, but the gross margin could reach 90-95%. The importance of this trend was foreshadowed in a recent interview with Cara Buckley, who wrote about Elon Musk's drug use for The New York Times. The growing awareness among content companies of the value of their data and the potential for revenue from LLMs marks a significant shift in the industry.
Nestle's New Frozen Food Brand Targets GLP 1 Drug Users: Nestle introduces Vital Pursuit, a frozen food brand catering to GLP 1 drug users, focusing on protein and calcium-rich meals. Critics question if 'obesity index' companies can adapt.
Nestle is entering a new market by launching a frozen food brand, Vital Pursuit, catering to customers taking GLP 1 drugs like Ozempic and Wegovy. The focus is on meals rich in essential nutrients, particularly protein and calcium. Although the packaging won't mention GLP 1 drugs, Nestle plans to connect the product to this market through targeted advertising. Some argue that processed food may be the answer for those on these drugs, which can lead to muscle loss. However, critics argue that these companies, including Coca-Cola, PepsiCo, McDonald's, Kraft Foods, and General Foods, are "obesity indices" and that their reliance on a small percentage of heavy consumers for significant volume could be impacted as more people turn to these drugs. The debate continues on whether these companies can adapt or if they'll struggle as these drugs gain more prevalence.
AI voices sparking controversy over intellectual property rights: The use of Scarlett Johansson's voice by OpenAI's ChatGPT and its resemblance to Samantha in 'Her' has raised questions about ethics, voice rights, and potential intellectual property violations.
The voices of virtual assistants like Samantha in the movie "Her" and the one used by OpenAI's ChatGPT bear similarities, leading to a controversy over voice rights and ownership. Scarlett Johansson's portrayal of Samantha in "Her" and ChatGPT's voice have striking resemblances, with both having an uplifted, slightly flirtatious tone. This similarity has sparked a debate about the ethics of using celebrity voices in AI and the potential violation of intellectual property rights. The future of AI and its impact on creativity and ownership is a complex issue that raises many questions. The use of non-union actors and the lack of documentation about the use of Johansson's voice in OpenAI's project have added fuel to the controversy. The legal implications of this case are still uncertain, but it highlights the importance of clarifying the boundaries of voice rights in the age of AI. Scarlett Johansson's history of standing up for her rights, from her lawsuit against Disney over the release of "Black Widow" to her earlier lawsuit against Ford over the use of her voice, underscores her determination to protect her likeness and intellectual property.
Managing a crisis: Transparency, accountability, and making things right: Companies, especially in tech, need to be transparent and accountable during crises. Acknowledge issues, have top leadership take responsibility, and overcorrect to minimize negative impact and maintain positive public image.
During times of crisis, transparency, accountability, and making things right are key for damage control. In the recent controversy surrounding OpenAI and Sam Altman, the company faced backlash over an equity situation with Scarlett Johansson and stringent departure conditions for employees. The situation has been damaging to their reputation, with many perceiving the company as powerful and greedy. To mitigate the damage, crisis management strategies suggest acknowledging the issue, having the top person take responsibility, and overcorrecting. In this case, OpenAI could establish new standards for royalty payments to those whose voices are imitated and ensure more reasonable equity conditions. Additionally, addressing concerns around safety and communication within the company would help regain trust. The incident serves as a reminder that companies, especially in the tech industry, need to be mindful of their actions and maintain open lines of communication with their employees and stakeholders. The power dynamics between corporations and labor have shifted significantly, and juries, often composed of workers, are increasingly scrutinizing these practices. By being transparent and addressing concerns, companies can minimize the negative impact of crises and maintain a positive public image.
Using AI to improve written communication: AI models like ChatGPT and Anthropic can help refine and clarify written content for more effective communication
AI can significantly improve the clarity and effectiveness of written communication. The speaker shared an experience of rewriting a paragraph multiple times but was unsatisfied with the results. They then used AI models like ChatGPT and Anthropic to refine the paragraph, resulting in a crisper and more engaging version. This demonstrates the potential of AI in helping us express ideas more clearly and efficiently. Additionally, the episode covered various topics including NVIDIA's impressive earnings report, the ongoing trial of Michael Cohen, and the importance of self-care with the help of Thorne and Coda.
Considering Risks for NVIDIA's Growth: NVIDIA's dominance in AI drove stock growth, but expanding into new sectors and careful competition management are necessary for continued success. Diversification and consulting advisors recommended.
While NVIDIA's stock has seen unprecedented growth in the last 12 months, it's important for investors to consider the risks and potential for a market correction. The company's dominance in AI has led to its meteoric rise, but it may need to expand into new sectors to continue growing at its current pace. Additionally, the company's increasing dominance in the tech industry has made it a valuable target for competitors, potentially leading to price increases and decreased bargaining power for buyers. The recent stock split may attract new investors, but it's essential to remember that fundamentals, such as a company's ability to grow and produce cash flow, ultimately determine its long-term success. As always, it's crucial to diversify and consult with financial advisors before making investment decisions. Meanwhile, companies like Trump Media continue to struggle with significant losses and revenue shortfalls, highlighting the importance of thorough research and due diligence before investing in individual stocks.
Data-driven journalism and visual storytelling in modern media: Julia Angwin, a data-passionate journalist with a background in math and accounting, founded Proof News to produce data-driven videos for YouTube and TikTok, aiming to build trust with audiences through rigorous reporting.
Data-driven journalism and visual storytelling are becoming increasingly important in today's media landscape. Julia Angwin, the CEO and founder of Proof News, shared her experience in the journalism industry and her motivation for launching a nonprofit journalism studio focused on producing videos for platforms like YouTube and TikTok. Angwin, who has a background in mathematics and accounting, has always been passionate about bringing more data and rigor to journalism to build trust with audiences. She has worked at various news organizations, including The Wall Street Journal and ProPublica, and has seen the value of data-driven reporting firsthand. Despite facing challenges in the past, such as during her tenure at The Markup, Angwin remains committed to her mission of making complex data accessible and understandable to the public.
Data journalism's growing importance in investigative reporting: Inaccurate AI models at the top of search results can mislead the public, highlighting the need for fact-checking and accurate data in journalism. Proof, a nonprofit fact-checking organization, aims to provide accurate data and inspire stories, differentiating itself from other fact-checking resources.
Data journalism, which has traditionally been seen as a support function in newsrooms, is increasingly becoming a central part of investigative reporting. The speaker, who has advocated for integrating data teams more closely into the newsroom, shared an example of testing AI models' accuracy in answering simple election-related questions, revealing significant inaccuracies. These inaccuracies, when presented at the top of search results, can mislead and confuse the public. Proof, the organization the speaker is part of, aims to address this issue by fact-checking and providing accurate data to inform journalistic stories. Unlike other fact-checking resources, Proof is unique in its nonprofit status and reliance on philanthropy for funding, with potential future revenue streams from platforms like YouTube and TikTok. The ultimate goal is to inspire stories and provide valuable context, differentiating Proof from other fact-checking resources.
The Hype vs. Reality of Advanced AI Technology: Despite investment and excitement, AI technology may not meet expectations due to reliability issues. Creators face different monetization opportunities on platforms, and OpenAI's overhyped launch set unrealistic expectations. Focus on engineering, iteration, and solving reliability issues for a realistic approach.
While there's excitement and investment in advanced AI technology, it's important to acknowledge that it may not live up to the hype and could be unreliable. The relationship between creators and platforms like OpenAI, YouTube, and TikTok was discussed, with monetization being a key consideration. OpenAI's overhyped launch may have set unrealistic expectations, and the technology still faces reliability issues. Creators looking to monetize their content have different opportunities on various platforms, with YouTube potentially offering more financial rewards. The monetization of AI itself was also touched upon, with the News Corp deal serving as an example. Ultimately, it's crucial to approach AI with a realistic perspective, focusing on engineering, iteration, and solving reliability issues.
YouTube vs TikTok: Economics and Future Potential: YouTube offers creators a 50-50 ad revenue split and responds to community concerns, but the small business economy may disappoint investors. AI investments focus on a singular, general intelligence, but recognizing specialized machines could lead to more rational investments.
The relationship between content creation platforms like YouTube and TikTok and their creators, as well as the investment in AI technology, raises important questions about the economics and future potential of these industries. From the creator standpoint, YouTube has built a healthier relationship with its content creators through a 50-50 ad revenue split and responsiveness to community concerns. However, the small business economy of content creation may disappoint venture capitalists seeking large returns. Regarding AI, the belief in a singular, general artificial intelligence capable of surpassing human abilities has driven massive investments. But acknowledging the likelihood of specialized machines may lead to more rational resource allocation and different investment choices. The debate continues on the potential of AI and the impact on various industries, including content creation, but a more nuanced perspective may be necessary.
Considering externalities and regulating technology: We must address the negative impacts of tech advancements, like data privacy and algorithmic control, and establish regulations to protect individual rights and freedoms.
We need to consider the externalities and potential negative impacts of technological advancements, such as compute being compared to oil extraction, and invest in mitigating these issues early on. Regarding the TikTok ban, there are concerns about the lack of regulation on algorithms and privacy, and the potential for a few wealthy individuals to impose their political agendas if the app is sold. If the ban holds up in court and TikTok is forced to divest, it's crucial to establish guardrails to prevent the new owner from imposing their political views on the populace. The debate ended with a 59%-41% vote in favor of the TikTok ban, but it's essential to continue focusing on regulating technology and protecting individual rights and freedoms.
Users should control social media algorithms: Users should have the power to adjust algorithms for balanced perspectives, with independent fact-checking and labeling ensuring accuracy and transparency.
Users should have control over social media algorithms for a more balanced and diverse online experience. This idea was discussed in relation to the concern of government and corporate control over information. The suggestion is that users should have the ability to adjust the algorithms to their preferred perspectives, similar to a dial, to promote free speech and reduce the impact of biased content. Additionally, there is a need for independent fact-checking and labeling to ensure accuracy and transparency. The effectiveness of labeling was highlighted with reference to internal studies from Facebook. Overall, giving users control over algorithms, combined with independent fact-checking and labeling, could help address some of the problems with social media.
Government seeks public input on data transparency and control: Companies like OpenAI and News Corp are making deals for data control, blurring lines between physical and digital worlds, and raising questions about creator compensation and ultimate beneficiaries.
There's a growing recognition of the importance of transparency and control over data in various aspects of our lives, from food labeling to digital consumption and intellectual property. The ongoing federal comment period about rescheduling marijuana is an example of the government seeking public input on such matters. In the tech world, companies like OpenAI and News Corp are making deals that could potentially give media companies more control over their data and generate new revenue streams. However, there are also questions about who ultimately benefits from these deals and how creators will be compensated. As the lines between physical and digital worlds continue to blur, it's essential for individuals and organizations to stay informed and advocate for their rights.
Engaging with the audience shapes Pivot's content: Listeners' questions help create interactive and community-focused podcast episodes, fostering engagement and shaping content.
Learning from this episode of Pivot is the importance of engaging with the audience. The hosts encourage listeners to submit questions for the show through the website nymag.com/pivot or by calling 855-51-PIVOT. This not only helps to shape the content of the show but also fosters a sense of community and interaction between the hosts and their audience. The episode was produced by Lara Naiman, Zoe Marcus, and Taylor Griffin, with engineering by Ernie Endertaut, Drew Burrows, and Neil Sberio, and executive production by Nishat Kurwa. If you enjoyed the episode, make sure to subscribe to the show on your preferred podcast platform and to the magazine at nymag.com/pod. Tune in next week for more tech and business insights on Pivot from New York Magazine of Vox Media.