🗿 OpenAI Tricked by Lawsuit??

OpenAI published a juicy blog post yesterday regarding the NYT lawsuit, calling it “without merit.”

GM. Bitcoin reaches $47K for the first time since late 2021. The SEC issues its latest warning. OpenAI rebuts against the New York Times. Billionaires catfight on X.

Without Further Ado. ☕ knuckle cracks ☕ Let’s get into it.

Today’s No FOMO is brought to you by … LVCIDIA …. A Digital Fine Art Platform Founded By Fvckrender

Today’s Specials:

No FOMO News 📰 : Gary Gensler issues latest crypto warning ⚠️

No FOMO 🗿: OpenAI to NYT: You Tricked Us 🤡

AI Intel 🤖 : Asian AI Stocks Are Hot 📈

Max’s Gaming Corner 🎮 : 10 VCs Deploying Capital in Web3 👇

No FOMO News 📰

  • U.S. Arrests 'Bitcoin Rodney,' Alleged HyperVerse Crypto Scheme Promoter, on IRS Charges of Fraud (CoinDesk)

  • Bitcoin surpasses $47,000 for first time since late 2021 (The Block)

  • Donald Trump may be crypto’s unexpected savior (Politico)

  • Upbit Singapore wins full digital asset license from MAS (The Block)

  • Gary Gensler issues warning on crypto ahead of potential spot Bitcoin ETF approval (CT)

OpenAI to NYT: You Tricked Us

OpenAI published a juicy blog post yesterday regarding the NYT lawsuit, calling it “without merit.” Let’s break it down.

What is the argument, and what does it mean for the future of AI-generated content, not only for media and journalism but for all human creativity? Because that’s ultimately what’s at stake here.

Illustration: Justin Jay Wang × DALL·E

  • OpenAI says training AI models using publicly available internet materials is fair use

  • They have an opt-out clause, which the NYT has been using since Aug 2023

  • They claim NYT makes up a tiny slice of training data, and is ultimately not significant for the model’s intended learning

  • OpenAI claims the NYT intentionally manipulated prompts to give them the desired outcome.

Our take: OpenAI is right. There is no legal basis for a lawsuit. But that’s more because our legal system is completely unprepared for the onslaught of AI developments that will fundamentally change our society. And less because they are justified in using other people’s work.

In the future, we will remember this time as the “Wild West” of Artificial Intelligence when you could get away with anything. A few lucky bastards will make a fortune. Regulators will level out the playing field and eventually overcompensate and become power-hungry. Then innovators will push back and leave us somewhere in the middle. Like literally any other new technology in a free society.

Honorary Mention 

SEI network. It’s hot right now. We’re planning a deep dive. What do you think or know about SEI?

AI Intel 🤖

Going Up High School GIF by Pudgy Penguins
  • OpenAI Claims New York Times Isn’t ‘Telling the Full Story’ in Suit (Bloomberg)

  • Samsung is primed to seize AI chipmaking crown (Reuters)

  • Asian stocks rise as tech surges on AI hype; Inflation remains in focus (Investing)

  • OpenAI says it is ‘impossible’ to train AI without using copyrighted works for free (yahoo)

  • Mayo Clinic pairs with Cerebras Systems to help develop AI for health care (Reuters)

Max’s Gaming Corner 🎮

Our web3 gaming update, brought to you by Max Kaufman

10 VCs Deploying Capital in Web3 👇

Conviction in blockchain tech is high 💸

Mining Memes ⛏️

Referral Contest - Win a Free NFT!

Refer a friend, win free NFTs like Azuki, Sappy Seals, Dippies, and more.

How it works:

One referral = one ticket to win our monthly NFT giveaway.

At the end of the month, we’ll do a raffle and one of our readers will be given a free NFT. The more friends you refer, the better chance you’ll have to win.

If you don’t win, we’ll roll your referral points over from the previous month so your efforts never go to waste.

No catch, no nonsense. Just refer, and win!

Want to Advertise with Us?

This is NOFOMO, the newsletter keeping you up-to-date on all things emerging tech — from AI to Blockchain to Virtual Reality.

Advertise with No FOMO to reach a real, engaged community - our open rate is over 30%.

Our discerning readers are always looking for the latest tools and products in the industry. Connect with the right people and make a difference in tech.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.

Join the conversation

or to participate.