TechCrunch - Meta's Llama drama and how Trump's tariffs could hit moonshot projects
The podcast begins with a discussion on a false report by a news aggregator account on X, which claimed President Trump was considering a 90-day pause on tariffs, causing market volatility. This was later confirmed by Trump, leading to further market fluctuations. The hosts then delve into a secretive EV startup backed by Jeff Bezos, which plans to produce a low-cost electric pickup truck. This startup, Slate, has connections to Amazon and aims to generate profits through aftermarket accessories, similar to Harley-Davidson's business model. The conversation shifts to Colossal Biosciences, a company involved in genetic tinkering, which recently announced the creation of wolves with certain genetic traits. The company, valued at $10.2 billion, aims to contribute to conservation efforts but faces skepticism about its long-term viability and ethical implications. Finally, the podcast covers Meta's release of Llama 4, an AI model that failed to impress the industry. Meta faced criticism for allegedly gaming benchmarks to enhance the model's perceived performance, highlighting a broader issue of companies focusing on benchmark scores rather than practical applications.
Key Points:
- A false tariff report caused extreme market volatility, highlighting the impact of misinformation on financial markets.
- Jeff Bezos-backed EV startup Slate aims to produce a $25,000 electric pickup, focusing on profits from aftermarket accessories.
- Colossal Biosciences' genetic experiments raise ethical questions and skepticism about its $10.2 billion valuation.
- Meta's Llama 4 AI model release was underwhelming, with accusations of gaming benchmarks to improve perceived performance.
- The tech industry is criticized for focusing on benchmark scores rather than developing practical AI applications.
Details:
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2. 🎙️ Welcome to Equity Podcast
- The podcast is a flagship program of TechCrunch focused on the business of startups and the latest trends in the tech industry.
- Episode features hosts Kirsten Corsac, Max Ze, and Anthony Ha, recorded on April 11th.
- The hosts highlight a week filled with significant events, setting the stage for discussions on notable occurrences in the business world.
- Key topics include startup funding trends, major tech acquisitions, and the impact of new regulations on tech companies.
3. 📉 False Trump Tariff Report Causes Market Chaos
3.1. False Report Triggers Market Surge and Plunge
3.2. Actual Tariff Announcement by Trump
4. 🔍 Unraveling Walter Bloomberg's Influence
- $2.4 trillion was lost due to tweets, highlighting the significant impact of social media on financial markets. This example underscores the power of digital communication in affecting economic landscapes.
- Walter Bloomberg operates an anonymous account, primarily aggregating content from Bloomberg terminal and interpreting headlines and interviews aggressively. This approach amplifies the reach and influence of Bloomberg's financial insights.
- Approximately 90% of posts are snippets from the Bloomberg terminal, indicating a heavy reliance on this source for content. This reliance ensures that followers receive timely, data-driven insights.
- The account's influence is notable given the rapid-fire nature of its updates, which can quickly alter market perceptions and investor behavior. This real-time information dissemination is crucial for traders and investors looking to make informed decisions.
5. 🚗 Inside Jeff Bezos's Secretive EV Startup
- Jeff Bezos is backing a secretive electric vehicle (EV) startup named Slate, which has been under investigation for about a year.
- The discovery of Slate was linked to an investigation into another company, with initial clues arising from personnel movements and tips indicating Bezos's involvement.
- Extensive communication and verification efforts with various sources were undertaken, utilizing investigative methods to confirm Bezos's backing by the end of the year.
- The startup, Slate, aims to innovate in the EV market, though specific details about its operations and strategic goals remain undisclosed, adding to its secretive nature.
- Understanding Bezos's involvement is crucial as it could signify strategic moves in the burgeoning EV sector, potentially impacting market dynamics.
6. 🔧 Slate's Innovative EV Strategy and Rivian Speculation
6.1. Slate's Affordable EV Strategy
6.2. Strategic Connections to Amazon and Rivian
7. 🧬 Colossal Biosciences and the Direwolf Experiment
7.1. Direwolf Genetic Engineering Project
7.2. Financial and Strategic Implications
8. 💸 The Business and Ethics of De-Extinction
8.1. Ethical Considerations in De-Extinction
8.2. Strategic Considerations in De-Extinction
9. 🔍 The Ripple Effects of Trump's Tariff Policies
9.1. Overview of Tariff Policies and Initial Reactions
9.2. Impact on Technology Industry
9.3. Broader Market and Consumer Implications
10. 🏭 Tariffs' Impact on Tech and Auto Industries
10.1. Impact on Data Centers and Tech Investments
10.2. Political and Economic Considerations
10.3. Broader Business Implications
10.4. Impact on Automotive Industry
11. 🤖 Meta's Llama 4: An AI Release Under Scrutiny
- Meta released Llama 4 with three models: small, medium, and behemoth, as part of their strategy to advance open-source AI, although these models are not fully open-source.
- The release was seen as underwhelming by the AI community due to a lack of new capabilities and failure to advance open-source AI standards.
- Controversy arose when allegations surfaced that Meta manipulated benchmarks to inflate performance results, which Meta executives denied.
- Meta reportedly released a version of Llama on LM Arena that was fine-tuned for chatting, not representative of the general model available on platforms like Hugging Face.
- The fine-tuned model on LM Arena used engaging response starters to perform well in benchmarks, differing from the general release model.
12. 🔍 AI Benchmarking: Competition or Stagnation?
12.1. AI Industry Trends and Challenges
12.2. Practical Applications of AI
13. 👋 Closing Remarks and Gratitude
- Equity podcast will return next week, available under the handle @EquityPod on X and Threads.
- Produced by Terresa Locon Solo with editing by Kell, highlighting the importance of collaborative production efforts.
- Acknowledgement of TechCrunch's audience development team, emphasizing the role of support teams in content dissemination.