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- charity: water | June 20th, 2024
charity: water | June 20th, 2024
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Today's insights are courtesy of charity: water, a nonprofit organization on a mission to bring clean water to the 703 million people living without it.
| Market | Day | Month | Year |
|---|---|---|---|
| Dow | ▲0.00% | ▼3.03% | ▲13.36% |
| S&P | ▲0.00% | ▲3.16% | ▲24.50% |
| Nasdaq | ▲0.00% | ▲6.92% | ▲30.89% |
| Bitcoin | ▼2.01% | ▼8.80% | ▲129.47% |
| 10-Year | ▲0.00% | ▲1.27% | ▼2.98% |
GOOD MORNING
Here's everything you need to know this week: Boeing CEO David Calhoun faced intense scrutiny from senators over the 737 MAX crashes and ongoing safety failures during a Capitol Hill hearing. The scrutiny revealed new whistleblower allegations and highlighted Boeing’s extensive lobbying efforts and significant political contributions.
OpenAI co-founder Ilya Sutskever has launched Safe Superintelligence Inc. (SSI), a new AI company dedicated to developing a safe and powerful AI system. Supported by AI luminaries, SSI aims to advance AI capabilities while prioritizing safety, setting new standards in the industry.
Frank McCourt, a U.S. billionaire, is considering purchasing TikTok as part of his Project Liberty initiative to decentralize the internet and give users more control over their data and privacy. This move comes amid increasing legislative pressure on TikTok to divest from its Chinese ownership.
Let’s dive into more detail below.
AEROSPACE
Boeing CEO Grilled Over 737 MAX Crashes and Safety Failures
Boeing’s ongoing safety failures and extensive lobbying efforts amid significant political contributions come under scrutiny during intense Senate hearings
BREAKING NEWS
Boeing’s CEO, David Calhoun, faced intense scrutiny from senators during a Capitol Hill hearing Wednesday, where he apologized for the 737 MAX crashes. Despite earning a $32.8 million salary, Calhoun was criticized for prioritizing profits over safety, revealing new whistleblower allegations, and highlighting the company’s extensive lobbying efforts.
WHAT HAPPENED
During the Capitol Hill hearing, David Calhoun was confronted by emotional testimonies from victims’ families and severe criticism from lawmakers, who focused heavily on Calhoun’s salary amid Boeing’s ongoing safety failures. One notable instance was when Senator Hawley cited a report stating, “One door seal was lubricated with Dawn liquid dish soap and cleaned with a wet cheesecloth.” Senators presented numerous whistleblower claims that Boeing concealed safety issues from regulators, questioning the company’s commitment to transparency and reform.
Boeing is known for its significant ties to the U.S. government and defense sector, with its lobbying expenditures nearly reaching $3 million in Q1 2024. Additionally, Boeing Co.’s Political Action Committee (PAC) contributions to federal candidates for the 2023-2024 cycle amounted to $1,139,000, with 36.74% ($418,500) going to Democrats and 61.94% ($705,500) to Republicans. This substantial financial support underscores Boeing’s strategy to favorably influence legislative and regulatory outcomes, ensuring their business interests are well-represented across both major political parties.
| Together, We Can End The Water Crisis |
When a community receives access to clean water, everything changes. Health improves. Girls don’t miss school. Parents have time to earn extra income.
Funding a water project is one of the best investments you can make. When you do so, charity: water will keep you updated along the way and, once completed, show you the water project(s) you funded with photos and GPS coordinates.
AI
OpenAI Co-Founder Launches Safe Superintelligence Inc. to Tackle AI Safety Concerns
SSI’s founding team, supported by AI luminaries, seeks to set new standards for AI safety and development in the industry
BREAKING NEWS
Do not be alarmed if you feel anxious or threatened by the prospect of an AI takeover. Ilya Sutskever, OpenAI’s co-founder and former chief scientist, has launched Safe Superintelligence Inc. (SSI), a new AI company dedicated to developing a safe and powerful AI system.
SSI, co-founded with Daniel Gross and Daniel Levy, aims to advance AI capabilities while prioritizing safety and avoiding the commercial pressures faced by other AI firms.
WHAT HAPPENED
Safe Superintelligence Inc. (SSI) has been established with a singular mission: to build a safe superintelligence system. The founders, Ilya Sutskever, Daniel Gross, and Daniel Levy, emphasize that their business model is designed to insulate safety, security, and progress from short-term commercial pressures. They aim to address safety and capabilities as interconnected technical challenges, advancing AI capabilities rapidly while ensuring safety measures are always a step ahead.
This development comes after Sutskever’s departure from OpenAI and amid growing concerns about AI safety within the industry. The company has garnered support from prominent figures in the AI community, including Tim Berners-Lee and Jonathan Haidt, highlighting the significance of their mission. By focusing exclusively on building safe superintelligence, SSI aims to set a new standard in AI development, potentially reshaping the landscape of artificial intelligence.
 | Your Next Running Shoe Is Here |
M&A
Billionaire Frank McCourt Eyes TikTok Purchase
If successful, McCourt’s TikTok would be a part of Project Liberty to help decentralize the internet, giving users more control over their data and privacy
BREAKING NEWS
Frank McCourt, a U.S. billionaire, is considering purchasing TikTok to counteract the influence of major tech platforms he believes are detrimental to society. McCourt, known for owning the Los Angeles Dodgers and Olympique de Marseille, announced his intentions at the Collision tech conference in Toronto. His initiative aims to develop a new internet paradigm, Project Liberty, which seeks to decentralize control from big tech companies.
WHAT HAPPENED
Frank McCourt’s plan to purchase TikTok is part of his vision to create Project Liberty, a decentralized internet that gives users control over their data. Driven by concerns about the negative impact of social media on children and society, McCourt criticized big tech platforms for manipulating users and contributing to societal polarization. By acquiring TikTok, McCourt aims to leverage its extensive user base to implement a more ethical, user-centric internet framework.
McCourt’s initiative coincides with increasing legislative pressure on TikTok to divest from its Chinese ownership. The U.S. government has given TikTok a deadline to find a non-Chinese buyer or face a ban. McCourt’s Project Liberty, supported by internet pioneer Tim Berners-Lee and other notable figures, aims to address the systemic issues of data privacy and algorithmic manipulation. However, the feasibility of this acquisition is uncertain due to legal battles and resistance from the Chinese government. McCourt’s vision for a new internet paradigm will require overcoming significant geopolitical and technological challenges but represents a step in the right direction for privacy and surveillance.
YESTERDAY | Here’s what you missed |
1. Disney's Abandoned $1B Florida Relocation Plan Breeds Employee Class Action Suit In Fallout From DeSantis Dust-Up
Over a year after Disney canceled a significant migration of staff to Florida, some employees are now suing the company due to the fallout from political conflicts with Governor DeSantis.
2. Walmart Will Bring Digital Price Tags to 2,300 Stores Over the Next Few Years
Walmart is rolling out digital price tags in 2,300 stores, a move that simplifies price adjustments and could change supermarket operations.
3. Bitcoin Whales Are Taking Profits, Cashing In $1.2 Billion in 2 Weeks
Large Bitcoin holders have sold $1.2 billion worth of BTC in two weeks, almost doubling the previous record for such transactions.
4. Elon Musk Walks Back ‘Go F— Yourself’ Comments to Advertisers
Elon Musk retracted his previous harsh comments directed at advertisers, which he made after several companies pulled their ad spending from his social media platform.
5. California Reaches $15 Million Settlement With Snapchat Over Alleged Sex Discrimination
California has settled with Snapchat for $15 million over allegations of sex discrimination, with eligible women employees from the last decade able to receive compensation.
6. Bank of England Set to Hold Interest Rates Despite Inflation Hitting 2% Target
The Bank of England is expected to maintain current interest rates even though inflation has reached the 2% target, due to ongoing high service inflation and wage growth.
7. Cyberattack Led to Harrowing Lapses at Ascension Hospitals, Clinicians Say
A cyberattack on Ascension hospitals caused significant issues, including delayed lab results, medication errors, and missed safety checks, according to clinicians.
8. Toyota Chairman’s Investor Support Tumbles
Support for Toyota Chairman Akio Toyoda fell to 71.9% amid scrutiny from investor groups over governance concerns.
9. WestJet Cancels Flights to Prepare for Potential Mechanic Strike
WestJet has canceled 40 flights, impacting 6,500 customers, as it prepares for a possible strike by mechanics starting Thursday.
10. Almost Half of Dell's Full-Time US Workforce Rejects Return-to-Office Push
Nearly half of Dell’s US employees have continued to work remotely, resisting the company's new return-to-office policy introduced in February.
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Today's insights are courtesy of charity: water, a nonprofit organization on a mission to bring clean water to the 703 million people living without it.
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