This episode discusses the drama at OpenAI, including the firing and rehiring of the CEO, the money laundering violation case against Binance and its CEO, and the impact of AI-generated content on the online news ecosystem.
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Quick takeaways
AI-generated content is becoming more prevalent in the media industry, raising concerns about credibility and integrity.
AI is being used unethically in the SEO industry, with claims of stealing traffic from competitors.
Binance's legal troubles continue despite a settlement with the US Department of Justice, with ongoing lawsuits and potential impacts on operations and reputation.
Deep dives
AI-generated content infiltrates the Internet: Sports Illustrated debacle
Sports Illustrated, once a pillar of American journalism, has been caught publishing AI-generated articles with fake authors and photos. The articles in question were reportedly written by a content partner called Advan Commerce, and several authors were found to have AI-generated headshots available for purchase online. While Sports Illustrated claims that the articles were not AI-generated, the controversy highlights the growing presence of AI-generated content in the media industry.
SEO heist: AI used to steal traffic from competitor
An SEO consulting firm, Content Growth, claimed to have carried out an SEO heist using AI-generated content. The company allegedly downloaded a competitor's article list and used AI writing platforms to create near-replicas of the content. According to the claims, they were able to steal a significant portion of their competitor's traffic using this strategy. While the story has not been independently verified, it raises concerns about the ethical use of AI in the SEO industry.
AI takes over online news landscape
Recent incidents involving AI-generated content in media outlets highlight the growing influence of AI in the news industry. From Sports Illustrated publishing articles with AI-generated authors and photos to SEO companies using AI to steal traffic from competitors, the impact of AI on online content creation and distribution is becoming more evident. These incidents raise concerns about the credibility and integrity of online information and call for greater transparency and regulation in the use of AI-generated content.
Binance's long-standing compliance issues
Binance, the world's biggest cryptocurrency exchange, has faced significant compliance problems for a long time. This was evident from the recently revealed statements made by Binance employees admitting to illegal activities, including running an unlicensed securities exchange in the US. Despite these issues, Binance continued to operate and attract billions of dollars in transactions. The delay in holding Binance accountable can be attributed to law enforcement's slow-moving nature and the challenge of extraditing Binance's secretive founder and CEO, who has been residing in the UAE without an extradition treaty with the US.
Binance's future and ongoing legal challenges
Although Binance reached a settlement with the US Department of Justice and its CEO stepped down, the company's legal troubles are not fully resolved. The Securities and Exchange Commission (SEC) has a separate ongoing lawsuit against Binance, which includes allegations of commingling customer funds with corporate accounts. The recent settlement with the Department of Justice did not address these claims. However, Binance is determined to present itself as a reformed and compliant entity, having hired new compliance personnel and a former federal prosecutor to lead the compliance operation. The future of Binance remains uncertain, as the SEC's case and potential further legal actions could impact the exchange's operations and reputation.
Warning: This episode contains some explicit language.
The drama at OpenAI is not over. Kevin and Casey take stock of new information they’ve gathered since last week, and look at how other artificial intelligence companies are trying to capitalize on the debacle. Then, why people are still buying cryptocurrency even after Binance, the world’s largest crypto exchange, and its founder pleaded guilty to money laundering violations. And finally, three ways A.I. is ruining web search. Or is it?
Today’s guest: David Yaffe-Bellany covers crypto for The New York Times.
Additional Reading:
Casey has new details from the OpenAI board fight.
Changpeng Zhao, the Binance founder, agreed to pay a $50 million fine and step down from his role as chief executive.
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