Music Giants vs. AI: Labels Sue for Billions

Author

Damon James
June 26, 2024

June 26th, 2024

If you are one of 800 new subscribers who’ve joined since Friday, welcome! Before diving into today’s newsletter…

One of the biggest areas that will be impacted by AI over the coming years is investing. I’ve been using AI-driven trading bots for the last several years now to invest my money

If you want to learn more about them…check this out. 

Read Time: 10 Minutes

Today’s Menu

  • Music Giants vs. AI: Labels Sue for Billions

  • XRAI Unveils AR One Smart Glasses for Real-Time Subtitles

  • Bitcoin's Wild Ride and Trump's Crypto Bet

TODAY IN AI

Music Giants vs. AI: Labels Sue for Billions

Universal Music Group, Warner Music Group, and Sony Music Entertainment are suing AI music startups Udio and Suno. The Recording Industry Association of America (RIAA) claims these startups illegally trained their AI models on copyrighted music, seeking up to $150,000 per infringed work. The platforms reportedly mimic specific artists and songs, admitting to using copyrighted material. Suno recently raised $125M, while Udio secured $10M. This legal battle could either set industry precedents or result in settlements and licensing deals, impacting the future of AI in music.

This is actually very similar to many of the legal conflicts we’ve seen with OpenAI and a few legacy media companies. 8 newspapers sued OpenAI earlier this year for pulling articles behind a paywall.

It’s difficult to stop LLM’s from pulling data because they have basically crawled the entire internet. However, there’s no shortage of companies who are fighting back.

Tools To Try Out:

  • Eleven Labs - AI Audio to create a custom voice of yourself

  • Synthesia - AI Video to create a custom avatar of yourself

  • Synthflow - Build AI Voice Assistants to automate key tasks

TODAY IN Crypto

Bitcoin's Wild Ride and Trump's Crypto Bet

The crypto market steadied on Tuesday as concerns over Mt. Gox's distribution of 140,000 BTC appeared overblown. Bitcoin rose above $61,000 after hitting a low of $58,580 on Monday. The CoinDesk 20 Index climbed to 2,083 points from 2,020. Despite this, Bitcoin is down nearly 10% for the month, in stark contrast to Nasdaq's 5% gain.

Traders predict a Trump victory in the 2024 U.S. Presidential Elections, with Trump favored at 57% versus Biden’s 35%. Biden is projected to win the popular vote, but this has no electoral impact. Trump's pro-crypto stance could boost Bitcoin and the wider market leading up to the election.

Meanwhile, U.S. spot ether ETFs might see less demand compared to Bitcoin ETFs. Analysts from Bernstein and JPMorgan cite the lack of an ETH staking feature as a limiting factor. The SEC’s recent approval of regulatory filings for ether ETFs has stirred anticipation, but some analysts believe expectations for significant price swings are overblown.

Sovereign is the official clothing brand of Future of Disruptive Tech. Sovereign’s goal is to bring awareness to the importance of:

  • Owning Multiple Passports

  • Purchasing Crypto Assets

  • Creating Online Income Streams and

  • Building a life where you’ll gain independence from corrupt institutions

I will also be starting a separate email list over the next month where I talk about second residency/passport attainment. All Sovereign shirt purchasers will gain lifetime access to this list.

What Did You Think of Today's Email?

Login or Subscribe to participate in polls.

Want to share The Future of Disruptive Tech with a friend, family member, or coworker? Pass this link along to them.

Thanks for reading!

Until next time,

P.S. Want To Subscribe To My Personal Newsletter?

If you’re interested in learning more about disruptive tech, marketing, and everything else I’m exploring from day to day, then click here to subscribe to my personal list now.

Reply

or to participate.