Equity Equity Monday: The AI race, crypto doldrums, and the future of fake fish
Oct 9, 2023
This episode dives into the recent turbulence in global stock and cryptocurrency markets, spurred by geopolitical tensions. It highlights China's advances in AI infrastructure and the ongoing competitive landscape with the US. The discussion also features the implications of a new Anthropic paper on large language models. Additionally, innovative startups like Wanda Fish Technologies, which specializes in sustainable fake fish, and Lottie, focused on care home solutions, showcase exciting developments amid regulatory challenges.
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Market Downturn
- Global stock markets are down due to the Hamas attack on Israel, causing concern about wider unrest in the Middle East.
- Crypto markets are also down, with Bitcoin and Ethereum experiencing losses.
Crypto Winter
- The crypto market downturn continues, with major tokens like Bitcoin and ETH showing losses.
- Yuga Labs, Bitmain, and reduced Web3 VC funding signal a tough market.
The AI Race Continues
- While the US initially led in large language models (LLMs), the AI race with China is far from over.
- China is bolstering national computing power, essential for AI, indicating its renewed focus on the AI race.