Tech Brew Ride Home Mon. 10/28 – Betting On The Election
Oct 28, 2024
Discover how Robinhood is shaking things up with their new election-themed derivatives, giving bettors a stake in political outcomes. Dive into the rise of Loops, TikTok’s open-source challenger in the Fediverse. Explore the significance of the newly defined open-source AI and how it aims to foster transparency in the tech community. Plus, learn about Netflix’s innovative ‘Moments’ feature and Meta's new tool for podcast creation, paving the way for fresh media experiences.
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Prediction Markets Breakthrough
- Prediction markets are gaining popularity, with platforms like Robinhood, Forecast, and Polymarket offering election contracts.
- Controversy exists around low trading volumes potentially skewing markets and single users impacting outcomes.
Polymarket's Trump Trader
- Polymarket found a single French user controlled four accounts and spent millions buying Trump contracts.
- Despite this, an investigation concluded this wasn't market manipulation.
Indonesia's Apple Ban
- Indonesia banned iPhone 16 sales for Apple's failure to meet local content rules and investment commitments.
- Apple invested $95 million, falling short of the $108 million requirement.