â¦and the Mouse House has unmagical vacancies A new chapter for AI lawsuits (Lars Niki/Getty Images) Yesterdayâs Market Moves Dow Jones
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$30,295 (+0.41%) Dow Jones
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$30,295 (+0.41%) Hey Snackers, A Beijing restaurant where US Treasury Secretary Janet Yellen recently dined is going viral for a [menu]( that features the dishes she ordered. Hollywood celebs get branded smoothies at Erewhon; economic icons get the âGod of Moneyâ menu in China. Stocks ticked up yesterday, led by the Dow, which snapped a three-day losing streak. Investors have eyes on tomorrowâs US consumer-inflation report and the start of Q2 earnings season. Copywrong Sarah Silverman sues Meta and OpenAI, alleging their language models ripped off her book âWrite a joke in the style of Sarah Silvermanâ⦠The comedian is suing OpenAI and [Meta]( saying they [infringed]( on the copyrights of her book, âThe Bedwetter,â in a case that could spark unfunny consequences for AI companies. Silverman, along with authors Christopher Golden and Richard Kadrey, say OpenAIâs ChatGPT and Metaâs LLaMA were âknowingly and secretly trainedâ using illegally obtained copies of the authorsâ books. - Exhibit A: The lawsuitsâ claims include summaries of the authorsâ works that they say ChatGPT churned out when prompted, as well as a document trail suggesting that LLaMA was trained on a âshadow libraryâ site called The Pile, which the complaint says contained illegally copied full works. - Payback: The authors seek payment and other damages, and the suit says thousands of other scribes could be plaintiffs in the case. When imitation â flattery⦠Generative AI has created a legal obstacle course for copyright law. [Getty Images]( sued StabilityAI earlier this year, accusing its image generator of using copyrighted pics without permission. And Hollywood actors and writers are seeking protections against AI ripping them off in studio-contract negotiations. Meanwhile, major news publishers may be [prepping]( for a case to force [Microsoft]( and [Alphabet]( to compensate them for using their articles in AI search results. - Law and AI order: Last month the EU passed a draft of its âAI Act,â a historic law that would make AI companies create safeguards against illegally generating content. - Cite your sources: It would also require companies to disclose any copyrighted materials used in training their models (which critics say is technically impossible). THE TAKEAWAY AI is a two-headed beast for creators⦠Not only are AI programs trained on original works, but they also use those works to churn out new content. AI has the potential to make pre-existing works less valuable while stealing future opportunities from human creators. Yet some argue AI programs are just another tool that creators can leverage (think: photographers editing in Photoshop). GOOFY Disney parks see thinner crowds as family travelers seek bargain experiences The Mouse House has rooms for rent⦠Travel seasonâs in full swing, but the âHappiest Place on Earthâ may be feelinâ a summer slump. [Disney]( US amusement parks are said to be seeing [thinner crowds]( and shorter ride wait times. Disney World, whose Magic Kingdom puts on a special fireworks show every July Fourth, saw its lightest Independence Day attendance in nearly a decade. Execs have said theyâre expecting weaker US earnings this year. Losinâ the magic⦠Despite Disneyâs fantasy-land park stylings, attendance may be dropping for earthly reasons. Disney has in recent years upped pricing across the board (tickets, merch, food) and nixed some freebies. Last year Disney raised ticket prices twice, with hikes of up to 14% at Floridaâs Magic Kingdom. The goal: squeeze more $$ out of fewer customers. Higher prices appear to be giving would-be visitors pause, and not just in Disney parks: - More-lando: Orlando, Florida (home of Disney World and Universal Orlando) is one of the priciest family-vacay destinations. On average, a weeklong trip will cost a family of four $7.3K. - Adding up: Travel costs more broadly are up 16% from prepandemic times. THE TAKEAWAY Experiential spending enters the discount phase⦠Demand for ârevenge travelâ shows few signs of slowing, but it may be shifting as experience-seeking vacationers try to spend smarter. In Europe, families are opting for cheaper summer destinations (picture: Costa Brava over the Canaries, Albania over Italy) or delaying trips to shoulder-season September. Cooling attendance suggests Disneyâs magic may have a price cap too. In May, Disney said [it would close]( its âStar Warsâ hotel. The cost of a two-night stay for a family of four: $6K. What else we're Snackin' - [Threats]( Threads, Meta's Twitter rival, became the fastest-growing app ever with 100M users in five days (it took TikTok nine months to do that). And Twitter usage appears to be taking a hit. - [AI-pply]( NYCâs AI hiring law (one of the USâs first) went into effect last week, mandating that employers who use AI for hiring must inform applicants and submit to audits to show their systems arenât biased. - [Covered]( Medicare agreed to cover the Alzheimerâs treatment Leqembi, which recently got FDA approval. In a clinical trial, it was shown to slow cognitive decline by 27% in early stages of the disease. - [Plug]( [Mercedes Benz]( said itâll adopt [Tesla]( EV-charging standard, allowing its cars to use Teslaâs 12K superchargers in North America next year. [Ford]( [GM]( and [Rivian]( have also hopped on the Tesla bandwagon. - [Wired]( Democratic Sen. Chuck Schumer called on the FDA to investigate KSI and Logan Paulâs Prime energy drink, which has grown popular with the influencersâ young fans â and contains the caffeine equivalent of six Cokes. ðª Thanks for Snacking with us! Want to share the Snacks? Invite your friends to sign up [here](. Snack Fact Of the Day Goldman Sachs said India's economy will surpass the USâs by 2075 [Read more]( Tuesday - Earnings expected from América Móvil Authors of this Snacks own shares of: Alphabet, Disney, GM, Tesla, and Microsoft Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( ⢠[Our Editorial Principles]( ⢠[Contact Us](mailto:hellosnacks@sherwoodmedia.com) ⢠[Privacy Policy]( ⢠[Advertise with us](mailto:advertising@sherwoodmedia.com)
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