AI enters a new era
Specifically, ChatGPT just levelled up (pun intended).
“ChatGPT builder” is a new innovation where anyone can create their own version of Chat GPT—a specialized bot for your own purposes. The idea is to share access with others and potentially build businesses in some cases.
GPT builder to build your own version of GPT. They have instructions for you here.
Like many apps, your New GPT would connect to your data and work with better context.
A “GPT store” is coming. Think of the app store but for new GPTs (AI agents), and apps.
Just like how millions of people made fortunes on iPhone and Android apps, we will see the same with AI.
A real example:
Nomad List is a go-to if you work and travel. The business (the website) helps digital “nomads” (people who work from a laptop), live and work anywhere in the world by sharing:
Best places to stay
Travel tips for each location
Recommendations on where to stay, eat, and have fun
The founder (and only employee) just finished “NomadGPT,” an AI agent that can explain everything like their website’s personal agent. It’s accurate, fast, and is familiar with all the information on the website. Plus, it connects the dots, and speaks like a human.
To put the power of this builder in perspective. He just says, “sometimes you miss the names of places, but they’re on the file I gave you.” The AI updates itself.
This is absolutely mind-blowing. Expect every company to have their own GPT in a few years.
Sam Bankman-Fried (SBF) was found guilty
The disgraced crypto “king” has been found guilty on seven counts of fraud. He was specifically charged with two counts of wire fraud and five counts of conspiracy, including money laundering.
There were mountains of evidence that showed how SBF accessed, misrepresented, and spent over $10 billion of other people’s money.
The jury reviewed for over four hours before the verdict, which is a clear message.
SBF faces 100 years in jail. But how long will he actually spend in jail? We’ll see, but remember, the judge sets an amount based on what they believe is sufficient to punish Bankman-Fried, deter others, and promote respect for the law.
It’s a clear message, and “deterring others” likely requires a heavy hand.
Admittedly (if you remember), many people were involved in crypto and scammed along the way. Those smaller-scale offenders got away with it in a majority of cases.
Potentially 100 years in jail.
Considering he did that with other people’s money, in the billions, I doubt people are upset.
While the story doesn’t fully end here (it’ll end when we see the jail time), and he may appeal, it’s vindication for many.
Telus sees a 74% drop in profits
I know what you’re thinking.
How do you let go of 6,000 people and then lose that much money?
It’s the costs associated with restructuring.
The fact is that the costs are upfront, but they anticipate realizing profits over the coming year. This means the restructuring will result in savings eventually (so they say).
This is not like Sam Bankman-Fried. There’s no vindication here.
Canadian Corner: banks notice the price hikes
But it looks like the price hikes have caught the attention of central banks. Nicolas Vincent, Deputy Director Governor at the Bank of Canada, clearly stated that there’s a “firm risk” of not reaching the target of 2% inflation if price hikes continue.
The banks seem to know that the overall cost of living increases and inflation is not just from printing money during the pandemic. It’s also corporate price-hikes that use “increasing costs,” and “inflation” as excuses.
The gap between the red and blue lines is their extra profits
But what are they not saying?
Experts have weighed in. They’re implying the government may need to implement new laws limiting price hikes on essential goods (food, gas, etc).
Aside from housing, this is the biggest challenge facing most Canadians today.
Let’s see how it plays out.