SEC Accepts Blackrock's ETF Application, signaling regulatory review - Several countries outside the US have been officially allowing ETFs, which make it easier to invest in a basket of crypto assets. So far the US has been blocking the creation of these financial instruments, so this is quite big news. Especially because Blackrock is such a large organisation. Also this week, the U.S. courts have pushed back on regulators for being overly zealous going after crypto companies. They officially ruled that Ripple's token XRP is not security. Securities typically have to follow much more stringent rules, and regulators have been attempting to apply these rules to many other cryptos, effectively putting them out of business. There appears to be a break in the clouds for the crypto industry. cointelegraph.com #
2023/07/18 #
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Incumbents vs. Startups in the AI Race - The speed at which the large established companies have deployed AI products has been unnexpected. Historically startups have been able to out maneuver larger organisations, at least initially, because they are less encumberred by beaurocracy. That's led to a healthy diversity in the ecosystem, but the AI era appears to be unfolding somewhat differently. The startups aren't getting the chance to get a foothold. Interesting observation, it had occurred to me too. It's beyond totally crazy that 6 or 7 companies basically run most of tech. How is that sustainable on a planet with 8 billion people? blog.autopilot.fund #
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A Bleak VC Outlook - There's an AI boom happening, but only a very small number of companies are benefitting. The startup ecosystem is getting decimated. I fear that this could spread to other non-tech sectors as established players essentially garner tools that make themselves invinsible, while still keeping a cut throat culture. There are many similar unsustainable large scale dynamics currently occuring, like AI eating the old websites internet, like actors being replaced by AIs etc, that could result in very broad dystopian futures. How do we avoid large scale collapse of culture? www.newcomer.co #
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They're really not into RFK Jr over at the BBC are they? I've listenned to him on several long form podcast interviews and I thought he sounded pretty smart. A few anti-establishment views, and that might even be a good thing, but on the whole he didn't come across at all like this article describes him. I wonder why there is such an enormous disparity. It's so extreme it's almost like they know something that they can't or won't say. I guess that's how politics goes, there will likely be some scandals revealed in due course. www.bbc.com #
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🚀 New Post: Testing auto posts to social media markjgsmith.com #