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Axios
2 hours ago
- Axios
David Sacks' "Goldilocks" scenario
David Sacks — famed tech founder & investor, co-host of the "All-In Podcast" ("The Rainman") and now White House special adviser for AI & crypto — declared Saturday on X that "Doomer narratives were wrong" about AI. Why it matters: The big takeaway from Sacks' post is that the fear of one AI frontier model dominating all now looks far-fetched, since high-performing competing models are diffusing power. "The AI race is highly dynamic so this could change," Sacks wrote. "But right now the current situation is Goldilocks": "We have 5 major American companies vigorously competing on frontier models. This brings out the best in everyone and helps America win the AI race." "So far, we have avoided a monopolistic outcome that vests all power and control in a single entity." "There is likely to be a major role for open source. These models excel at providing 80-90% of the capability at 10-20% of the cost. This tradeoff will be highly attractive to customers who value customization, control, and cost over frontier capabilities. China has gone all-in on open source, so it would be good to see more American companies competing in this area, as OpenAI just did. (Meta also deserves credit.)" "There is likely to be a division of labor between generalized foundation models and specific verticalized applications. Instead of a single superintelligence capturing all the value, we are likely to see numerous agentic applications solving 'last mile' problems. This is great news for the startup ecosystem." "There is also an increasingly clear division of labor between humans and AI. Despite all the wondrous progress, AI models are still at zero in terms of setting their own objective function. Models need context, they must be heavily prompted, the output must be verified, and this process must be repeated iteratively to achieve meaningful business value. Reality check: Though there's plenty of competition, as Sacks notes, the administration has worked closely with OpenAI on the Stargate Project. And as Axios' Scott Rosenberg noted recently, the history of tech shows that early dominant players could still fall to a competitor not yet born: Google came along to dominate what seemed like a well-established search industry in the early dot-com era. The bottom line: The "current state of vigorous competition is healthy," Sacks concluded. "It propels innovation forward, helps America win the AI race, and avoids centralized control. This is good news — that the Doomers did not expect."
Wall Street Journal
2 hours ago
- Wall Street Journal
Stock Funds Add to Their Gains
Fund investors aren't ignoring tariff turmoil, but they—and investors in general—seem to be making some peace with it. For July, the average U.S.-stock mutual fund or exchange-traded fund posted a total return of 1.7%, according to LSEG data, to push the year-to-date advance to 5.4%. (See funds-data tables including Mutual-Fund Yardsticks.)
Forbes
2 hours ago
- Forbes
Google Data Breach — August 8 Email Warnings Now Confirmed
Google confirms it has now notified victims of hack. SOPA Images/LightRocket via Getty Images It has been quite a week for Google users: first came the confirmation that the technology giant had been hacked and Google user data breached, quickly followed by news of another hack attack, this time impacting Google Cloud customers. The release of the Chrome 139 security update following the disclosure of multiple vulnerabilities, a spike in Google account attacks, and three email warnings from Google seemed somewhat tame by comparison. But it's confirmation of official email warnings that is the latest development in the Google data breach saga. Here's what we know. Forbes Emergency Microsoft Security Warning Confirmed — Act Now, CISA Says By Davey Winder The Google Threat Intelligence Group first alerted the world to a successful hack attack against Google on August 5, when it confirmed that a database had been accessed by attackers thought to be associated with the ShinyHunters ransomware and extortion group, also more formally known as UNC6040, leading to the compromise of user data. The database, a Salesforce instance, was used 'to store contact information and related notes for small and medium businesses,' the Google announcement stated. The full extent of the breach is still to be confirmed. Google has so far said that the stolen data comprised 'basic and largely publicly available business information, such as business names and contact details.' Now Google has updated that confirmation with another. This time, answering a question that had been on the lips of many in the cybersecurity industry, as well as Google users themselves. That question being whether impacted organizations had been informed of the attack and the data that had been stolen. 'This could mean these organisations are only finding out about the breach now,' William Wright, CEO of Closed Door Security told me at the time, 'meaning the criminals could have held on to the data, unknown to victims, for almost two months.' The August 8 update by Google provides some closure in that it first confirmed 'Emails are actively being sent to those affected by this incident,' and shortly after that, 'Google has completed its email notifications to those affected by this incident.' It has not been made clear what the precise content of those Google data breach notification emails might be, but if you have received one, I would be more than happy if you were to forward it to me. I will update this article with further information should I get hold of an email, suitably redacted, of course. Forbes Microsoft Windows Security Bypass — Hello Hackers Use Own Faces By Davey Winder
