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Top stories today: - Mistral releases Ministral edge LLMs optimized for laptops, phones
- Amazon unveils Kindle Colorsoft Signature Edition with color display
- FTC finalizes "click-to-cancel" rule to ease subscription cancelations
- TSMC's profit beats estimates as demand for AI chips booms
- Global unicorn count hits 1,550 startups, valued at $5.2T
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0. Data and calendar |
| All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). |
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| All times are ET. |
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Listen to our AI-generated podcast summarizing today's newsletter: |
| Bay Area Times Daily - Oct. 17, 2024 ► Play Online |
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1. Mistral releases Ministral edge LLMs optimized for laptops, phones |
Ministral 3B and 8B generally outperform Google's Gemma 2 2B and 9B and Llama 3.2 3B and 3.1 8B on benchmarks, according to Mistral: |
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128K token context window on both models. Interleaved sliding-window attention pattern is also available on Ministral 8B. $0.04 / M tokens (input and output) price for Ministral 3B $0.10 / M tokens (input and output) for Ministral 8B. Not open weights: Ministral 8B is only available for download but for research at the moment. In the coming weeks, cloud platforms will start offering both Ministral LLMs.
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3. Amazon unveils Kindle Colorsoft Signature Edition with color e-ink display |
Featuring a Kindle Paperwhite-like design and carrying E Ink's Kaleido display tech with 300ppi pixel density: |
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Kindle Paperwhite Kids has debuted with Cyber City and Starfish covers and a 2-year guarantee |
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$179.99 price. Oct. 30 availability.
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Amazon also updated 3 of its Kindles |
Scribe: new stylus, white bezels, and a more paper-like feel, at $399.99, available on Dec. 4. Paperwhite: larger, brighter 7-inch display and faster page turns, starting at $159.99 for the standard model and $189.99 for the Signature Edition. Entry-level: 25% brighter display and improved contrast levels, and an option for Matcha green color, at $109.99.
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5. FTC finalizes "click-to-cancel" rule to make canceling subscription as easy as signing up |
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First proposed in Mar. 2023. Applies to any automatically renewing subscription and covers free trials. 180 days: when most of the provisions of the rule will go into effect. "Too often, businesses make people jump through endless hoops just to cancel a subscription. The FTC's rule will end these tricks and traps, saving Americans time and money," FTC chair Lina Khan said.
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6. TSMC's profit beats estimates as demand for AI chips booms |
TSMC stock is +70% this year, outpacing many of Asia's biggest tech firms: |
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TSMC's sales have 2x'ed+ since the start of 2020 |
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7. Global unicorn count hits 1,550 startups, valued at $5.2T |
9 unicorns added in Sep., including 4 from the U.S., 2 from India, and 1 each from Japan, Germany, and Chile: |
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Safe Superintelligence, Sakana AI, and 24M Technologies were among the new unicorns. AI, energy, fintech, fitness, and property tech sectors saw new unicorns in Sep. ~290 startups have reached a $5B value or greater over all time. 2 unicorns were acquired last month.
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8. Morgan Stanley shares hit all-time high as revenue exceeds expectations |
The stock jumped 8.2% on Wed., marking the biggest intraday increase since November 2020, before closing at $119.51: |
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$193B market cap. +32% YoY net profit to $3.18B in Q3. +16% overall revenue to $15.38B. +56% investment banking revenue to $1.46B. +21% equity trading revenue to $3.05B. Morgan Stanley's rivals also posted better-than-expected results in Q3.
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9. Interesting videos, posts, and memes |
| Why Design Matters: Lessons from Stripe, Lyft and Airbnb |
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| The blueprint for a $340k/mo premium dating app |
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| Zach Perret: Why 'Founder Mode' is the Most Dangerous Blog Post for Founders | E1215 |
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10. Other headlines |
AI |
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Tech |
Amazon buys stake in X-Energy in push to power data centers. Uber explored possible bid for Expedia in "super app" growth push. Musk appoints Omead Afshar to oversee Tesla's U.S., Europe operations. Huawei suppliers face effort by U.S. lawmakers to block chip gear access.
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Tech & law |
Google asks 9th Circuit for emergency stay, calling Epic ruling "dangerous." EU declines to designate X as DMA gatekeeper.
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Biotech |
Tolerance Bio launches with $17M in seed for thymus regeneration. Neuralink's top surgeon Matthew MacDougall: profile. WHO says Western Pacific to miss UN lifestyle disease death goal. Novartis loses latest bid to block generic version of blockbuster heart drug. UK's assisted dying campaigners say people deserve control.
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Business |
Boeing hones $15B financing plan to weather crises: sources. GM, Foxconn to swap imports to Mexico for local production. Airbus to cut up to 2.5K jobs in defence and space. McKinsey cuts ~500 jobs in China business: report. China to boost credit support for "whitelist" properties to $560B.
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Crypto |
FTX's Nishad Singh urges judge to spare him from prison. Radiant Capital loses $50M to 2nd blockchain exploit in 2024. A16z says crypto usage setting records amid regulatory uncertainty.
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U.S. politics |
Harris grilled on Fox News on immigration, Biden's fitness for office. JD Vance says Trump didn't lose 2020 U.S. election. Trump calls himself "father of IVF" at all-women town hall.
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World |
Israel lets 50 aid trucks into Gaza after U.S. threat. Iran says it will respond "decisively" if Israel attacks. U.S. military strikes Houthi weapons storage facilities in Yemen. Zelensky to pitch "victory plan" to EU, NATO.
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