Trump's election throws tech regulation a curveball
Nov 8, 2024
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A seismic shift in tech regulation is expected with Trump's upcoming presidency, as he aims to dismantle existing AI policies. OpenAI's acquisition of Chat.com raises questions about branding and user experience. Meanwhile, DeepRoute secures $100 million to fast-track its automated systems in the face of Tesla's advancements in China. A new collaboration between Google and Saudi Arabia for an AI hub sparks discussions about climate commitments. Lastly, the rise of predictive betting markets like Polymarket offers a thrilling glimpse into tech and politics intertwining.
Trump's election may lead to deregulation in tech, affecting AI policies that have previously aimed to ensure safety and accountability.
The acquisition of chat.com by OpenAI reflects a trend of prioritizing user-friendly domains in AI as integration becomes more seamless for users.
Deep dives
OpenAI's Acquisition of Chat.com
OpenAI's recent purchase of the domain chat.com highlights the growing importance of user-friendly platforms in the AI space. This acquisition, which occurred after the domain was initially bought for $15 million, reflects a larger trend reminiscent of the dot-com boom, where domains were traded at high prices. The conversation around this deal suggests a potential surge in the market for premium domains related to chat-oriented technologies. Industry experts speculate that integrating AI capabilities into everyday applications will become more prevalent, making the underlying technology less visible to users.
DeepRoot's $100 Million Funding for Automated Driving
The Shenzhen-based company DeepRoot secured $100 million from Great Wall Motor, one of China's largest automakers, to advance its automated driving technology. They are currently focused on developing level four driverless systems, which aim to operate within specific geographic areas under favorable conditions. As DeepRoot pivots towards advanced driver assistance systems, the competitive landscape heats up with Tesla's full self-driving technology poised to enter the Chinese market soon. This funding and subsequent innovation underscore a significant race within the automotive sector to achieve leading-edge automated driving solutions.
Google's AI Hub Partnership with Saudi Arabia
Google's announcement of an AI hub in partnership with Saudi Arabia's Public Investment Fund is a strategic move amidst regional tech competition, particularly with the UAE. This collaboration aims to develop Arab language AI models and enhance access to AI resources within Saudi Arabia. Despite concerns over aligning with a country rich in oil while the tech giant pursues climate commitments, the partnership signifies a push for Saudi Arabia to strengthen its position as a global tech center. Observers speculate about the unique incentives provided by Saudi Arabia that led Google to favor this partnership over its UAE counterpart.
Advancements in Biotech Through AI
The recent Nobel Prize in Chemistry awarded to the University of Washington's Baker Lab emphasizes the significant contributions of AI in protein development and biotechnology. The lab's work, particularly with a new startup named Archon, seeks to improve drug delivery methods by using design principles akin to antibody cages, which enhances the likelihood of medications interacting with targeted receptors. The integration of AI in drug discovery has evolved, with companies now working to streamline the testing process for countless drug candidates generated through AI. As these technologies advance, biotech firms are seeing shorter timelines for bringing innovations to market.
A tech regulation shakeup is on the way with President-elect Donald Trump set to take office in January. Trump has made it clear that he plans to dismantle Biden’s AI policies on "day one," aligning himself with those who’ve pushed back against regulation. Today on TechCrunch’s Equity podcast, hosts Kirsten Korosec, Devin Coldewey and Margaux MacColl dove into what Trump’s win could mean for AI policy and innovation moving forward.
While AI is always on the mind these days, there was so much more startup and venture news for the Equity crew to get into this week. Listen to the full episode to hear about:
OpenAI’s acquisition of Chat.com, the domain previously acquired by HubSpot co-founder and CTO Dharmesh Shah for a whopping $15.5 million. We’re not sure if this signals a brand change for the AI startup, but users’ trips to ChatGPT just got three letters shorter.
DeepRoute’s $100 million raise and the startup’s race to get its automated systems out before Tesla FSD is available in China.
Biotech startup Archon’s $20 million effort to power up drug development with its ‘antibody cages’. Of course, we couldn’t talk about the news without a biochemistry lesson from Devin where we learned a new scientific term: thingies.
Google’s new AI-focused data center and collaboration with the Saudi Public Investment fund. The move had the team thinking more about tech’s climate commitments at large, and who is walking back their pledges in favor of AI.
Equity will be back next week with a special interview between TechCrunch senior editor Julie Bort and Salesforce CEO Marc Benioff, so stay tuned.
Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.
Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes over at Simplecast.
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
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