🏆🤖What do 3 Water Bottles and ChatGPT have in Common?

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THE PROFITS💸

Good morning Opportunists. Ever wondered what three water bottles and ChatGPT have in common? A look at how McDonald's ordering kiosks are surprisingly benefiting workers in the fast-food landscape and we’ll uncover the latest innovation from the creator of PUBG.

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Read Time: 6 mins

ChatGPT

What do 3 Water Bottles and ChatGPT have in Common?

Since launching ChatGPT in 2022, OpenAI has made remarkable strides in artificial intelligence, transforming our daily lives while still grappling with some growing pains, like the pesky issue of "hallucinations"—that is, generating incorrect responses.

Thankfully, reports of these blunders are dwindling, although copyright challenges still loom large, creating a murky landscape for training AI models. Did you know that OpenAI's GPT-4 guzzles up to three bottles of water for just 100 words?

This startling fact, highlighted by research from the University of California, adds to the ongoing conversation about the environmental costs of AI, as companies like Microsoft and Google consume more energy than 100 countries combined to fuel their AI ambitions.

Meanwhile, OpenAI has been navigating a financial tightrope, facing a projected $5 billion loss and the specter of bankruptcy, but recent investments from tech giants like Microsoft and NVIDIA could provide the much-needed lifeline to keep ChatGPT afloat. As the demand for AI chips surges, Microsoft is also working on a $100 billion project called Stargate to lessen its dependence on NVIDIA, all while Elon Musk warns that the world may not have enough electricity to sustain AI's explosive growth by 2025.

McDonalds

McDonalds Ordering Kiosks has a Bright Side for Workers

When self-service kiosks first emerged in fast-food chains like McDonald's, they were touted as potential job killers, but the reality has turned out quite differently.

Instead of replacing cashiers, these touchscreen wonders have reshuffled tasks, encouraging customers to order more while allowing employees to focus on delivering food and maintaining dining areas.

Shake Shack's CEO noted that kiosks effectively upsell items like fries and milkshakes—something cashiers may overlook during peak hours.

However, some implementations have flopped, revealing that kiosks can create stress for customers and may not always speed up service, raising questions about their true impact on the industry amidst evolving labor dynamics and minimum wage discussions.

Gaming Innovation

PUBG Creator’s New Idea in Gaming

After revolutionizing the multiplayer gaming scene with the hit battle royale Playerunknown's Battlegrounds in 2017, creator Brenden Greene has turned his attention to an ambitious new project: a colossal, Earth-scale open-world game called Project Artemis.

Greene is exploring just how vast he can make this virtual universe, jokingly asking, "How big can we go?" and ultimately deciding to take on the daunting task of designing the world himself.

This isn't just about creating a massive space; Greene envisions a "holodeck" where players can craft their own experiences, requiring a delicate balance of emergent gameplay and creativity.

While he acknowledges the road ahead will be challenging and filled with ups and downs, he promises that those who join him on this journey will witness something truly special emerge from the adventure.

Science and Technology

A New AI Device: Jony Ive has officially teamed up with OpenAI CEO Sam Altman on an exciting AI hardware project, as revealed in a recent New York Times profile. While details are still under wraps, the venture is backed by Ive and the Emerson Collective, and they're aiming to secure up to $1 billion in funding by year's end, all while operating from a swanky 32,000-square-foot office in San Francisco—part of a $90 million real estate acquisition. The device is rumored to leverage generative AI to revolutionize computing, blending ideas from the original iPhone and touchscreen tech, but as LoveFrom cofounder Marc Newson noted, many specifics are still being ironed out.

Jamie xx’s Stance on Phones and Tech: Jamie xx has returned from a refreshing retreat in Norway, where he fished for his meals without the distraction of technology, revealing his struggle with the overwhelming influence of his phone. Technology only appreciates when you rarely use it. Not having a phone is the life.

Tech Industry Resets: The tech job landscape has undergone a seismic shift, transforming from a realm of stability and generous perks to one of layoffs and tightened hiring practices, with over 137,500 workers axed this year alone across 438 companies. While giants like Alphabet, Amazon, and Microsoft have slashed their workforces, the only sector still thriving appears to be AI, where salaries for engineers can soar to $1 million annually, highlighting a dramatic pivot toward revenue-generating roles and a focus on versatile skill sets amid a fundamental reset in the industry.

Business & Markets

Solarbank is Overlooked: Solarbank (SUUN) has hit an all-time low of $3 a share, raising eyebrows among investors who see potential for a turnaround. With the global shift toward renewable energy, this could be an opportune moment to consider SUUN as a promising investment for the future.

The Last of Kmart: The iconic big-box era is officially wrapping up as the last full-size Kmart in the continental U.S. prepares to shut its doors in Bridgehampton, New York, on October 20, 2024. With only a smaller convenience-style Kmart in Miami still operating, the once-mighty chain has seen a steady decline since merging with Sears in 2005, culminating in a significant loss of stores, including the last one in Southern New England that closed in 2021.

The Boeing Strike: The ongoing strike at Boeing is rooted in a significant sore point for workers: the loss of traditional pension plans back in 2014. While unions are rallying to reclaim these essential retirement benefits that once provided security for many, companies have increasingly shifted the burden onto employees through 401(k) plans, leaving workers feeling vulnerable and discontented. As 33,000 members of the International Association of Machinists take a stand, it’s clear that the echoes of past labor disputes still resonate strongly in the fight for fair compensation and security in their golden years. Despite the company's proposals to enhance 401(k) contributions, the desire for restored pensions looms large in the hearts of the workers.

For Retired People: The Federal Reserve's unexpected 0.5% cut to the federal funds rate is set to ripple through consumer lending and impact the stock, labor, and housing markets, aiming to boost confidence and spending. However, retirees may need to rethink their investment strategies as lower interest rates could lead to diminished returns on conservative options like Certificates of Deposit (CDs) and annuities; financial expert Bob Powell suggests exploring money market funds and CD ladders to secure higher rates that outpace inflation and enhance their portfolios.