Issue #29

"Doom spending" on the rise, robot learns to play ping pong, Tesla building 1950s diner, and more.

News from August 8 - August 15, 2024

Perplexity Enters AI Fight 

Perplexity AI, an AI-driven search engine, has seen a sevenfold increase in revenue and usage since early 2024, fueled by a $250 million funding round that raised its valuation to $3 billion. 

The company is shifting its business model toward advertising, aiming to challenge Google’s dominance in the $300 billion search ads market. 

However, this growth is tempered by plagiarism allegations, prompting Perplexity to adjust its platform and enhance attribution. 

Source

House Prices Lower Birth Rates 

A study by the National Demographic Research Institute (Nidi) reveals a connection between rising home prices and declining birth rates. 

Since 2010, the birth rate has dropped most significantly in regions where housing prices have surged, with every €100,000 increase in home prices leading to a decline of 0.03 to 0.06 children per woman. 

In countries like the Netherlands, the national average birth rate decreased from 1.80 in 2010 to 1.43 in 2023, the lowest since WWII.

Source

‘Doom Spending' On The Rise 

Young people, facing anxieties about global warming, economic instability, and seemingly unattainable milestones like homeownership, are turning to "doom spending" as a coping mechanism. 

This trend involves spending on instant gratification rather than saving for the future and is often fueled by social media platforms like TikTok, particularly through trends like the #TikTokMadeMeBuyIt hashtag. 

While this behavior offers short-term relief, experts warn it could lead to long-term financial issues, especially if fueled by "buy now, pay later" schemes.

Source

Bulletin Board

• Robot Learns to Play Ping Pong. Google's DeepMind has unveiled an AI-powered robot that can outplay most casual table tennis players. The robot, designed to adapt to opponents' strategies, won 55% of matches against intermediate players. DeepMind: “It’s the first agent to achieve amateur human-level performance in this sport.” Source 
• Wooden Skyscraper 55 Stories High. A Vancouver-based architecture firm has unveiled plans for a 55-story skyscraper in Milwaukee, set to become the world's tallest mass-timber building. The skyscraper, part of a larger multi-tower development near the Marcus Center, will primarily feature engineered wood, pushing the boundaries of sustainable high-rise construction. Source
• Raspberry Pi's Launches £4.80 Computer. Raspberry Pi has launched the Pico 2, a new model featuring upgraded performance and security, priced at £4.80. The device is available for pre-order and is expected to stay in production until at least 2040. Raspberry Pi shares rose 2.5% upon news of the computer becoming public. Source
• YouTube CEO Dead at 56. Former YouTube CEO Susan Wojcicki passed away at 56 after a two-year battle with cancer. Wojcicki, who led YouTube from 2014 to 2023 and was a key figure in Google's early days, was remembered by her husband, Dennis Troper, as a brilliant mind and loving mother of five. Alphabet CEO Sundar Pichai expressed deep sorrow, calling her core to Google’s history. As Google's 16th employee, Wojcicki had personally convinced the company's board to purchase YouTube for $1.65 billion in 2006. Source
• Tesla Building 1950s Style Diner. Tesla is moving forward with plans for a 1950s-style diner at a Supercharger station in West Hollywood, hiring a "Tesla Diner Experience Specialist" to oversee operations. Elon Musk in 2018: “Gonna put an old school drive-in, roller skates & rock restaurant at one of the new Tesla Supercharger locations in LA.” The diner is projected to operate 24/7 with around 30 Supercharger stations and two outdoor movie screens. It’s expected to open by the end of 2024. Source 

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