⚔️ Musk vs OpenAI

Musk sued OpenAI and Microsoft to save the world | The UK's mergers and acquisitions scene has been thriving | [Finimize](   TOGETHER WITH     Hi {NAME}, here's what you need to know for March 2nd in 3:12 minutes.   🏦 The ISA rules have changed, but the deadline's still the same. So join us for [A Masterclass On Building Your ISA Portfolio]( on March 26th, and find out how to make the most of your tax-free options before time runs out. [Grab your free ticket]( Today's big stories - Elon Musk is suing Microsoft-backed OpenAI and CEO Sam Altman, accusing them of working more for profit than the greater good - Bitcoin’s been speedier out of the starting blocks this year, but ether just might pull ahead – [Read Now]( - UK companies caught the eyes of overseas buyers, but not necessarily for the right reasons Doubt Your Intelligence [Doubt Your Intelligence] What’s going on here? Elon Musk sued Microsoft-backed OpenAI for the sake of humanity – apparently. What does this mean? OpenAI was originally a non-profit company with a mission to make sure that AI would benefit humanity. It takes a lot of cash to develop world-changing technology, though, so ChatGPT’s owner added a capped profit-making arm in 2019. But Elon Musk believes the company’s veered too close toward a traditional money-making model, arguing that truly working for the benefit of humanity would involve sharing the underlying code with the world. Mind you, plenty of skeptics believe that Musk’s lawsuit is a shrewd competitive move. He has his own rival AI firm, after all. Either way, the Tesla tycoon isn’t afraid to pick a fight: he’s currently battling Google, Disney, and the US government. Why should I care? For markets: Microsoft’s in hot water. Microsoft makes a fortune selling ChatGPT services, a revenue stream that would likely dry up if the latest updates were freely available. Plus, Musk’s lawsuit alleges that OpenAI’s latest model should be classed as artificial general intelligence, the Black Mirror-style type that can do as well as humans on some tasks. Microsoft doesn’t have a deal for that, though, so it could lose its exclusive access. On top of that, the New York Times has also sued Microsoft and OpenAI for copyright infringement, and US, European, and British competition watchdogs are keeping a close eye on the duo. Bear in mind, though, that legal threats have a habit of harboring more bark than bite. The bigger picture: This could be the start of the storm. Economist Carlota Perez has described a necessary “reset” that takes place when a revolutionary technology moves from development to deployment. According to Perez, that includes social tensions, government interventions, a shift in political thoughts, and often, a financial crash. Take note, AI investors. You might also like: [How to invest in AI](. Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Doubt Your Intelligence&utm_campaign=daily-global-02-03-2024&utm_source=email) Analyst Take Three Reasons Why Ethereum Might Outrun Bitcoin This Year [Three Reasons Why Ethereum Might Outrun Bitcoin This Year]( By Jonathan Hobbs, CFA, Analyst Bitcoin’s price rallied over 150% last year, while ether’s gained “only” 90%. But this year, the [No. 1 and No. 2 crypto]( have been running neck and neck – with each of them up about 50% so far. There are still ten months left to go until the new year, but I’m ready to [bet]( on the winner. That’s today’s Insight: [three reasons why I see ether coming out ahead of bitcoin](. [Read or listen to the Insight here]( SPONSORED BY IG Peek into IG’s watchlist of AI stocks and ETFs [Artificial intelligence]( has gone from a sci-fi concept to a widely used tool in a matter of months. And with the technology’s capabilities expanding exponentially, the number of workers, companies, and whole industries relying on the tech is only going in [one direction](. But that’s the obvious stuff. It’s not just healthcare and carmakers using AI to change their businesses: the tech is revolutionizing the behind-the-scenes production of computer chips too. So unless you have the net worth of Bill Gates, making you able to invest in just about every company that touches the tech, you might struggle to pick [the few with the highest potential](. Luckily, IG has found the needles in the haystack: [check out the round-up of the best AI stocks and ETFs to watch now](. Disclaimer Your capital is at risk. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. [Find Out More]( When you support our sponsors, you support us. Thanks for that. If you want your brand featured here, [get in touch.]( Vulture Culture [Vulture Culture] What’s going on here? The UK’s boardrooms [filled]( up this year, as bargain-hunting dealmakers picked up the companies that investors have dropped. What does this mean? British companies have been attracting a lot of attention lately, with both foreign and local buyers spending over $22 billion so far this year on acquisitions in the country. That’s more than double the amount spent by this time last year. Just this week, warehouse business Wincanton was caught in a bidding battle between a US logistics firm and a French company. Some companies are still opting to go it alone, though: Direct Line Insurance Group and electrics retailer Currys both turned down offers from abroad this week. Why should I care? Zooming out: Americans love to shop. It might sound like British companies are simply too good to resist, but that’s not quite the case. Companies around the world are struggling to find lucrative investment opportunities in today’s economy, so they’re buying up other firms to quickly expand their businesses and cut down on costs. Remember, the last decade of low interest rates made it easier for companies to store away some extra cash. So now that the US dollar is a lot stronger than the British pound, stateside companies can use their savings to snap up UK firms for a decent price. The bigger picture: Check your metrics. When a business is eyeing up a deal, it'll check out the firm’s “enterprise value-to-earnings multiple”. That basically tells investors how much they’d pay for each unit of earnings compared to the company's total worth. As far as that metric’s concerned, British companies would cost around 40% less than their European and US rivals. No surprise: the country’s been up against rampant inflation, sharp interest rate hikes, lagging economic growth, and a mass exodus of investors. Mind you, now that inflation seems to be skipping town, putting interest rate cuts back on the table, today’s cheap-as-chips British stocks could turn into tomorrow’s fish supper. You might also like: [The UK’s stocks are almost embarrassingly cheap.]( Copy to share story: [( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Vulture Culture&utm_campaign=daily-global-02-03-2024&utm_source=email) 💬 Quote of the day "If you don't know where you are going, any road will get you there." – Lewis Carroll (an English author, poet, and mathematician) [Tweet this]( "If a tree falls in a forest and no one is around to hear it, does it make a sound?" You're a brilliant business with great products. (We've taken the liberty of making an assumption.) Now you need to [find the right audience](, so you can really make a sound. Our one-million-strong international [financial community]( is on the lookout for any products and services that can help them make smarter decisions with confidence. That sounds like a perfect pairing to us. [Get in touch today.]( [Get Your Name Out There]( 🎯 On Our Radar 1. The Rock has copyrighted his catchphrases. Bad luck, [Vin Diesel](. 2. Humans never stop learning. 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