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a16z doesn’t care about your copyright

Venture capital firm Andreessen Horowitz (a16z) has expressed concerns about potential devaluation of billions of dollars in AI investments if companies engaged in developing the technology are compelled to pay for copyrighted data essential to its functionality.

In comments submitted to the US Copyright Office, the VC firm emphasized the substantial scale of AI investments and cautioned that any new regulations pertaining to the content used for training models could significantly disrupt the investment community’s plans and expectations regarding the technology.

In their statement, a16z asserted, “The bottom line is this: Imposing the cost of actual or potential copyright liability on the creators of AI models will either kill or significantly hamper their development.” The US Copyright Office is currently deliberating on new rules specifically addressing the tech industry’s unrestricted use of owned and copyrighted content for training large language models (LLMs).

You can read more on the matter here.

What’s going on?

• MrBeast Gets ‘Canceled’ for Helping Provide Clean Drinking Water to Africa (theDeepDive)

• Ether tops $2,000 for the first time since April, bitcoin climbs to an 18-month high (CNBC)

• Embattled Realtor Association Is Also the Top-Spending Lobbying Group in the US in 2022 (theDeepDive)

• Fed’s Barkin, Bostic Say Full Impact of Rate Hikes to Come (Bloomberg)

• 'We wouldn’t sign' grocery code if it raised prices: industry group exec (BNN)

• King Charles Reads A Speech About Easing the Cost of Living While Wearing A Diamond-Encrusted Crown (theDeepDive)

• Private jets of Russian oligarchs keep flying but not to Europe (Reuters)

• Hollywood Actors Reach Tentative Deal, Ending 118-Day Strike (theDeepDive)

• IRS data reportedly shows Buffett traded Berkshire stocks in personal account, according to ProPublica (CNBC)

• NDP’s Rachel Notley Alleges Conservatives Want To “Rip Apart” Healthcare In Alberta (theDeepDive)

What’s the latest?

• Further Rate Hikes?: The Bank of Canada is divided on whether to increase interest rates further, as revealed in their October 25 deliberations. While some members see a need for a rate hike to curb inflation, others believe maintaining the current rate of five percent could be sufficient. The central bank is particularly concerned about persistent inflation, especially in the housing market, despite the economy's response to existing higher rates.

• Continuing Claims Fall: The number of new U.S. unemployment claims slightly decreased last week, with initial claims for state unemployment benefits dropping by 3,000 to a seasonally adjusted 217,000. However, the count of those receiving benefits after the first week of aid rose for the seventh consecutive week to 1.834 million, the highest since April.

• Russia To Lift Fuel Export Ban: Russian authorities have informed fuel producers to prepare for the lifting of all remaining restrictions on diesel and gasoline exports. This move comes alongside Russia's commitment to continue a voluntary supply cut of 300,000 barrels per day of its crude oil and petroleum product exports until the end of December.

• Cruise Layoffs: Cruise, a subsidiary of General Motors, has laid off contract workers involved in its driverless ridehailing service, following recent safety concerns and incidents. The layoffs impact those responsible for vehicle cleaning, fleet charging, and customer support, although the specific number of affected workers was not disclosed.

• Investment Disclosures: U.S. Senators Bob Casey and Rick Scott plan to introduce a bipartisan bill requiring private equity firms to disclose their investments in China and other countries of concern, including Iran, Russia, and North Korea. The bill aims to increase transparency over U.S. investments in these nations, particularly in light of over $80 billion invested in China by U.S. firms from 2018 to 2022.

Is a recession coming?

The stock market and stuff

• AMC Surpasses Q3 2023 Expectations, Swinging to Profit Amidst Box Office Challenges (theDeepDive)

• AstraZeneca, GSK, Teva All On FTC’s Notice Due To “Improperly Listed” Patents (theDeepDive)

• Rogers reports Q3 net loss on joint venture charge, adjusted profit up from year ago (BNN)

• Canadian Tire Cuts 6% Of Full Time Positions While Announcing $200 Million In Buybacks (theDeepDive)

• Disney Exceeds Q4 2023 Earnings Expectations Amidst Streaming Success (theDeepDive)

In the juniors

• NexGen Receives Provincial Environmental Approval For Rook 1 Project (theDeepDive)

• Trulieve Sees Q3 Revenues Fall Slightly To $275 Million, Cash Flow Improves (theDeepDive)

• F3 Uranium Drops $217k On 3% Interest In Private Jet (theDeepDive)

FULL DISCLOSURE: Carlyle Commodities is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Carlyle Commodities. The author has been compensated to cover Carlyle Commodities on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.