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FYI - For Your Innovation
Block, AI Regulation, and SpaceX’s Starlink | The Brainstorm EP 22
Nov 7, 2023
19:19
Snipd AI
This podcast episode discusses Jack Dorsey's return to Block, President Biden's Executive Order on Artificial Intelligence, and SpaceX's Starlink reaching break even.
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Quick takeaways
- Jack Dorsey's return to Block shows potential for a deep commerce integration between Cash App and Square, enabling direct transactions and positioning Square for a closed-loop payment ecosystem.
- The recent executive order on AI regulation raises uncertainties about its impact on startups and emerging players, potentially leading to consolidation of power among established players, while data sets and distribution networks remain crucial for AI networks' success.
Deep dives
Square’s Earnings and Jack Dorsey’s Comments
During the third quarter earnings call, Block reported strong results and Jack Dorsey's comments reaffirmed investor confidence in Block's potential as a leading digital wallet in the US. Dorsey acknowledged the historical rivalry between Cash App and Square, committing to fostering cross-team collaboration. He hinted at a deep commerce integration between the two apps, which could enable direct transactions between Cash App customers and Square merchants, bypassing traditional payment methods. This collaboration aligns with the digital wallet thesis and positions Square well for a closed-loop payment ecosystem.
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highlights
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