As customers withdrew billions of dollars from crypto exchange FTX one frantic Sunday this month, founder Sam Bankman–Fried worked the phones in a futile bid to raise $7 billion in emergency funds. Hunkered in his Bahamas apartment, Bankman–Fried toiled through the night, calling some of the world’s biggest investors, including Sequoia Capital, Apollo Global Management Inc and TPG Inc,… Continue reading Bankman-Fried begged for funds from Sequoia, Apollo Global in FTX’s frantic final daysSequoia was shocked at the amount of money ($7b) needed to save …
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Abu Dhabi state fund Mubadala picks up strategic stake in Singapore’s AirCarbon
Abu Dhabi state fund Mubadala Investment Company confirmed on Wednesday that it has acquired a strategic stake in Singapore-based AirCarbon Exchange (ACX). Two sources close to the matter had earlier told Reuters about the deal. AirCarbon in February this year partnered with Abu Dhabi‘s financial freezone, Abu Dhabi Global Market (ADGM), to establish the first regulated carbon trading exchange and clearing house in the capital. Mubadala‘s acquisition supports the plan… Continue reading Abu Dhabi state fund Mubadala picks up strategic stake in Singapore’s AirCarbon
Singapore’s Temasek said to be writing down its FTX investment
Singapore state investor Temasek Holdings is writing down its entire investment in the embattled crypto bourse FTX, Bloomberg reported on Wednesday. The firm is understood to have invested between $200 million and $300 million in FTX, the report added. This follows a series of similar write-downs by FTX’s other investors including Sequoia Capital, SoftBank Group… Continue reading Singapore’s Temasek said to be writing down its FTX investment
Waabi unveils its first generation self-driving truck
Autonomous trucking startup Waabi has unveiled its first generation of trucks that are purpose-built for OEM integration. The trucks are powered by the Waabi Driver, a combination of Waabi’s software, sensors and compute. Their launch signals both that Waabi is ready to verify and validate its self-driving stack and that it’s open for business. Waabi… Continue reading Waabi unveils its first generation self-driving truck
Parallel Domain says autonomous driving won’t scale without synthetic data
Achieving autonomous driving safely requires near endless hours of training software on every situation that could possibly arise before putting a vehicle on the road. Historically, autonomy companies have collected hordes of real-world data with which to train their algorithms, but it’s impossible to train a system how to handle edge cases based on real-world… Continue reading Parallel Domain says autonomous driving won’t scale without synthetic data
The 20-year boondoggle
Just a week after 9/11, while the country was still reeling, a series of letters began arriving at news organizations and Senate offices. The envelopes were innocuous, indistinguishable from other mail, but inside was a white powder, a rare bacteria that can be fatal if inhaled — anthrax. Five people died, and 17 were sickened… Continue reading The 20-year boondoggle
Notion is using AI to automatically write your blog posts, job descriptions, and poetry
/ Large language models mean your note-taking app can understand what you’re trying to write — and just write it for you. Notion’s AI turns your prompt into blog posts, poems, to-do lists, and brainstorms.Image: Notion / David Pierce Someday soon, Notion will be able to write your notes for you. The company is starting… Continue reading Notion is using AI to automatically write your blog posts, job descriptions, and poetry
Waabi announces ‘plug-and-play’ autonomous trucking solution
/ The Waabi Driver is a turnkey solution for semi truck manufacturers who want fleets of self-driving trucks on their delivery routes. Image: Waabi Waabi, the autonomous vehicle startup founded by former chief scientist at Uber’s Advanced Technology Group Raquel Urtasun, announced a new turnkey solution for semi truck manufacturers who want to transform their… Continue reading Waabi announces ‘plug-and-play’ autonomous trucking solution
The unbearable lightness of BuzzFeed
BuzzFeed built a digital media empire in part by aggregating viral content from social media. A decade later, what’s next? Share this story Nina* was scrolling Apple News in July 2021 when she came across a headline that looked familiar. Even before opening the story, she had a feeling she might be in it. The… Continue reading The unbearable lightness of BuzzFeed
Grab’s Q3 losses more than halve to $342m, revenue surges 143%Strong growth in the mobility and delivery segments lifted revenue.
Southeast Asian superapp Grab on Wednesday reported a net loss of $342 million for the third quarter of 2022 — an improvement of 65% from the $988 million loss posted in the year-ago quarter. Grab also reported revenues of $382 million in Q3 2022, up 143% from $157 million a year ago. On a constant… Continue reading Grab’s Q3 losses more than halve to $342m, revenue surges 143%Strong growth in the mobility and delivery segments lifted revenue.