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Musk Sues OpenAI Over Ethics and Deceit
Damon James
August 07, 2024
August 7th, 2024
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Read Time: 10 Minutes
Today’s Menu
Musk Sues OpenAI Over Ethics and Deceit
Is Bitcoin’s Rebound Just a Blip?
Markets
Price | 1 Day Change |
|---|
S&P 500 | 5,257 | .24%↑ |
|---|---|---|
Bitcoin | $55,843 | 1.6% ↓ |
Ethereum | $2,380 | .7% ↓ |
Solana | $146 | 1.3% ↓ |
TODAY IN AI
Musk Sues OpenAI Over Ethics and Deceit
Elon Musk has filed a new lawsuit this week against OpenAI and CEO Sam Altman, accusing them of manipulation and deceit in transitioning the company from a non-profit to a for-profit model.
Musk's complaint alleges OpenAI breached its "founding agreement" and violated federal racketeering laws through "numerous acts of wire fraud." OpenAI has denied the allegations, citing Musk's previous support for the for-profit shift.
This legal action follows recent leadership shakeups at OpenAI, adding fuel to the ongoing controversy surrounding the company's direction and ethics.
I wouldn’t say that Elon Musk has been “anti-AI,” however he’s been very reluctant to embrace it. His approach has always been along the lines of “AI isn’t good for the world but it’s inevitably going to happen, so I might as well help to shape it.”
This is in pretty sharp contrast to Sam Altman who seems intent on sprinting forward as fast as possible to achieving AGI.
I doubt that Musk and Altman are going to quit butting heads anytime soon.
Today In Crypto
Is Bitcoin’s Rebound Just a Blip?
Bitcoin regained $56,000 during the Asian morning, leading a broader market recovery with the CoinDesk 20 Index (CD20) up nearly 8% in 24 hours. Solana's SOL surged nearly 13%, while XRP and DOGE rose by 7.5% and 11.8% respectively.
BTC later pulled back to around $55,000, up 7% on the day. Analysts caution that this rebound may be short-lived due to broader market pessimism.
Meanwhile, spot ether ETFs saw $49 million in inflows despite ETH's significant drop. ARK Invest capitalized on the market slump, buying $17.8 million in Coinbase shares and $11.2 million in Robinhood, betting on a price recovery.
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