Circle K Owner Wants to Buy 7-Eleven & This Tech CEO Hates AI
Aug 20, 2024
29:56
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Toby, the CEO of Procreate, a leading design app opposing generative AI, discusses the impact of AI on artists' livelihoods and contrasts their stance with larger firms like Adobe. The conversation turns to Circle K's $38B bid for 7-Eleven, highlighting the potential upheaval in the convenience store market. They also explore rising startup failures and a trend of digital wedding invites via text. Lastly, a Wyoming mayoral candidate proposes using AI for governance, igniting a debate on ethical AI use.
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Quick takeaways
Procreate CEO James Kuda's rejection of generative AI emphasizes the ongoing debate about AI's impact on artistic integrity and creativity.
Circle K's proposed acquisition of 7-Eleven highlights complex regulatory and cultural challenges that could impede the creation of a global convenience store giant.
Deep dives
The Search for Missing Tech Mogul
A British tech mogul, Mike Lynch, is among six people missing after a super yacht sank off the coast of Palermo, Sicily, during a violent storm. This incident occurred just after Lynch celebrated being acquitted of charges related to a long legal battle stemming from his company's sale, which had previously garnered significant media attention. With 22 individuals aboard the yacht, 15 were rescued, and unfortunately, one person was found deceased. The search is ongoing for the remaining missing individuals, including Lynch and another high-profile executive.
Procreate's Stand Against Generative AI
James Kuda, the CEO of Procreate, announced a firm stance against generative AI in an effort to protect artistic integrity, declaring that the company would not incorporate AI into its products. This decision resonates with growing concerns among creatives who feel that AI technologies threaten their livelihood by potentially replacing human-driven creativity. Kuda's anti-AI sentiment has been well-received, positioning Procreate as a stark alternative to competitors like Adobe, which have introduced AI features despite customer resistance. The backlash against AI isn’t isolated to Procreate; other brands, including Dove, are also pledging to stay away from AI-generated content, reflecting broader unease about the technology.
A Potential 7-Eleven Merger Raises Concerns
A Canadian company, Kushtar, seeks to acquire 7-Eleven's parent company, a move that could create one of the world’s largest convenience store chains. However, the takeover faces hurdles, including Japan's historical resistance to foreign acquisitions and potential opposition from the Ito family, which has a significant stake in 7-Eleven. The Japanese government may also be hesitant due to the role that 7-Eleven plays in disaster responses and as part of the community fabric. Analysts remain cautious, noting that regulatory challenges and cultural significance may hinder the progress of this ambitious deal.
Episode 391: Neal and Toby chat about popular design app Procreate stance made against generative AI, led by its CEO. Then, 7-Eleven parent company is offered a buyout by Canadian company Circle K, which could change the face of convenience stores across America and Asia. Next, a labor dispute might bring Canada’s rail network to screeching stop, potentially costing billions of dollars to North America’s supply chain. Meanwhile, the hot startup boom of 2021 is starting to come crashing down as more and more startups are flaming out. Also, Toby looks at the latest trend of wedding invites made by text message. Lastly, a mayoral candidate in Wyoming’s capital city is promising to use AI to make official decisions.