Tag: Elon Musk

Elon Musk Responds to Dogecoin Founder’s Drastic Income Reduction

by Blockchain News

Elon Musk, the CEO of Tesla and SpaceX, recently responded to a tweet from Billy Markus, also known as Shibetoshi Nakamoto, the founder of Dogecoin, regarding a drastic reduction in his social media earnings. This interaction gains significance against the backdrop of Musk’s controversial influence on Dogecoin and allegations of market manipulation.

Markus’s Earnings and Musk’s Response

On September 2, 2023, Billy Markus disclosed that his recent social media earnings had plummeted to about one-third of what they were in the previous two weeks. The tweet quickly gained traction, stating,

my 𝕏 paycheck is about 1/3rd of what it was compared to the previous two weeks, and i want to say… …that it’s all magic bonus money to me that i greatly appreciate and it’s absolutely crazy and amazing that i get paid anything at all to shitpost on this app

In response, Elon Musk tweeted that the fluctuation was likely due to the “beta code” nature of the revenue-sharing algorithm on the platform. He also added that only verified users counted towards ad revenue, hinting at the complexities of monetization algorithms.

Sorry, this should be more stable over time. Revenue share is still very much beta code. Worth noting that only verified users (aka X Premium subscribers) count for ad revenue, otherwise it’s trivial to game.

Implications for Social Media Monetization

The interaction between Markus and Musk serves as a microcosm of larger issues surrounding social media monetization, including high-profile figures of cryptocurrency. It raises questions about the fairness and stability of revenue-sharing models, especially for content creators who rely on these platforms for income. Moreover, it brings into focus the ethical considerations of influential figures like Musk affecting market dynamics.

Musk’s Influence on Dogecoin

Elon Musk has been a polarizing figure in the cryptocurrency world, particularly when it comes to Dogecoin. His tweets have often led to wild price swings, as reported by Blockchain.News, earning him both admiration and criticism. Musk has even faced legal action for allegedly manipulating Dogecoin prices, although these allegations have yet to be substantiated.

Recent Revelations from Wall Street Journal

A recent Wall Street Journal article titled “The Real Story of Musk’s Twitter Takeover” adds another layer of complexity to this narrative. The article, based on an excerpt from Walter Isaacson’s upcoming biography on Elon Musk, reveals that Musk has been quietly funding Dogecoin’s development. It also discusses failed negotiations between Musk and Sam Bankman-Fried (SBF), the CEO of cryptocurrency exchange FTX, over a potential $5 billion investment. Both parties reportedly considered the other “crazy.”

Conclusion

The sharp decline in social media earnings experienced by Dogecoin founder Billy Markus and Elon Musk’s subsequent response have opened up a Pandora’s box of questions related to social media monetization and market influence, a sentiment echoed by other key figures. This issue gains urgency as Meta’s new Twitter-style app, Thread, intensifies competition and challenges Twitter’s operational model.

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Elon Musk Endorses Pro-Crypto Republican Presidential Candidate Vivek Ramaswamy

by Blockchain News

Elon Musk, the CEO of Tesla and SpaceX, publicly endorsed Vivek Ramaswamy, the emerging United States Republican presidential candidate. On August 18, 2023, Musk responded to a post by Tucker Carlson on Twitter, stating, “He is a very promising candidate.” Carlson’s original tweet even highlighted Ramaswamy as the “youngest Republican presidential candidate ever” and emphasized his significance in the current political landscape.

Vivek Ramaswamy has been in the spotlight for his candid opinions on digital finance and cryptocurrencies. His stance appears to diverge sharply from current authorities, especially the SEC chairman Gary Gensler. The SEC has taken action against prominent cryptocurrency firms including Coinbase, Kraken, Binance, and Gemini at the chairman’s direction. This strident regulatory stance has even prompted Coinbase’s CEO to think about moving the business outside of the United States.

Ramaswamy’s pro-crypto attitude is evident in his advocacy for a robust crypto environment within the United States. Notably, during the Bitcoin 2023 conference in Miami, he announced his campaign’s decision to accept Bitcoin contributions. This move positions him as the second presidential contender in the 2024 U.S. election race to endorse BTC donations, following closely behind Robert F. Kennedy Jr.

Ramaswamy’s political path has encountered some difficulties, nevertheless. He is now dealing with legal problems resulting from his prior association with Strive Asset Management, a business he co-founded.  Despite these hurdles, his rising popularity has brought him into proximity with fellow Republican Ron DeSantis, the Bitcoin-friendly Governor of Florida.

The increasing integration of cryptocurrencies in the political arena underscores their growing significance. 44% of American voters either own or are contemplating owning digital assets, according to a survey done last year. Given the pro-crypto positions of top Republican candidates like Ramaswamy and DeSantis, the result of the next 2024 U.S. elections might have a significant effect on the cryptocurrency sector.

Musk’s endorsement, along with the shifting political dynamics and existing regulatory environment, indicates that the 2024 elections might play a crucial role in shaping the trajectory of cryptocurrencies in the U.S.

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AI.com Now Redirects to Elon Musk’s New AI Project X.ai

by Blockchain News

On August 2, the website X.ai, which is the official website of Elon Musk’s new artificial intelligence project, started diverting traffic from the domain AI.com. Previously, traffic on this site was redirected to ChatGPT using the same URL.

According to research conducted by the website DN.com, the domestic domain field, the AI.com domain was registered in May 1993, making it more than 30 years old and a domain with considerable historical significance.

Since February of this year, AI.com has been redirecting to ChatGPT, which has led to the assumption that Musk personally owns the site. It has been used by Musk in the past in connection to his investment in ChatGPT, but now it has been reclaimed for Musk’s own artificial intelligence project.

The information pertaining to the domain AI.com was most recently updated on April 8, 2022. As a result, the ownership of the domain that previously redirected to ChatGPT and will now redirect to X.ai has not changed hands.

On July 12, 2023, the establishment of xAI was announced on the official website of X.ai, which can be accessed via the website AI.com. DeepMind, OpenAI, Google Research, Microsoft Research, Tesla, and the University of Toronto are just some of the illustrious organisations that have been represented on this team in the past.

Elon Musk, a visionary entrepreneur and CEO of Tesla and SpaceX, has been a prominent figure in the technological landscape. His latest venture, xAI, aims to take AI to the next level by developing a mathematical “theory of everything” for large neural networks.

This initiative is seen as a response to the rapid rise of ChatGPT, a language model created by OpenAI, which Musk has criticized for alleged political biases.

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Elon Musk Foresees an AI-Dominated Future, Believes China will Command Significant AI Capabilities

by Blockchain News

Elon Musk, CEO of Tesla, opened up about the future of artificial intelligence (AI) and autonomous driving during his virtual address at the World AI Conference in Shanghai on July 6, 2023. Musk expressed a willingness to share Tesla’s self-driving technology to foster industry growth. In addition, Musk recognized the impactful contributions of skilled Chinese professionals in the AI sector, forecasting a future where China emerges as a dominant force in artificial intelligence.

Musk anticipates a future ruled by AI, where the balance could tip towards machines outnumbering humans, ushering in a period of unprecedented prosperity. Tesla’s humanoid robots, currently in development, are expected to relieve humans from mundane and dangerous tasks, requiring no exceptional intelligence to do so.

One key application of AI is in autonomous vehicles. Musk reaffirms Tesla’s readiness to license its technology to other automakers, enabling them to liberate their customers from the tedium of driving and granting them more freedom and time. By improving vehicle utilization rates, autonomous cars can transform usage patterns, a revolution Musk hopes to catalyze by sharing such technologies more widely.

Tesla’s self-driving technology is approaching full autonomy, with little human intervention required in the US road tests. Musk is optimistic about achieving Level 4 or Level 5 autonomous driving capabilities by the end of the year.

The CEO also touched upon Artificial General Intelligence (AGI), a smarter-than-human level of AI, and the idea of a regulated “Artificial Super Intelligence” (ASI) created from thousands or millions of advanced computers. Despite the risks associated with this superintelligence, Musk urges everyone to work towards ensuring a positive future.

Expressing admiration for the intelligence and talent in China, Musk is confident that the nation will excel in AI along with other sectors, ensuring a powerful AI capacity in the future. He concluded by expressing gratitude for the invitation to the conference and looking forward to future interactions

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Elon Musk Plans to Launch AI Startup to Compete with OpenAI

by Blockchain News

According to recent reports, Elon Musk is planning to launch an AI startup to compete with OpenAI, one of the most popular generative AI companies that he co-founded in 2015. Musk is reportedly assembling a team of AI researchers and engineers for the new venture and is in talks with existing investors from SpaceX and Tesla for investment. The new AI startup will place Musk among other tech giants, such as Google and Microsoft, in the race to build next-gen AI.

The alleged findings complement recent reports that Musk has been procuring nearly 10,000 graphics processing units to power Twitter’s AI initiatives. In addition, Musk has incorporated a company named X (X.AI) and changed the name of Twitter to “X Corp” in company filings as part of his plans to create an “everything app” under the “X” brand.

However, it is worth noting that Musk and more than 2,600 tech leaders and researchers signed an open letter urging a temporary pause on further AI development on March 30, citing “profound risks to society and humanity.”

Meanwhile, Amazon Web Services (AWS) has launched the Bedrock initiative to allow its users to build generative AI from foundation models. This move by AWS is another sign that tech companies are heavily investing in AI and trying to develop their own AI capabilities.

In conclusion, Elon Musk is reportedly launching an AI startup to compete with OpenAI, and is in talks with existing investors from SpaceX and Tesla for investment in the new venture. Musk’s recent incorporation of X (X.AI) and his plans to create an “everything app” under the “X” brand suggest that he is making significant investments in AI. Additionally, AWS’s Bedrock initiative highlights the ongoing efforts by tech companies to develop their own AI capabilities. While AI holds enormous potential for advancing society, it is crucial that the development of this technology is done in a responsible and ethical manner to minimize potential risks to society and humanity.

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Elon Musk Warns of AI Destructive Potential

by Blockchain News

Artificial intelligence (AI) has been a hot topic in the tech industry for years, with many researchers and engineers working tirelessly to bring the concept of a generative AI to life. However, some experts have raised concerns over the potential risks associated with AI, including its potential to destroy civilization. One such expert is Tesla and Twitter CEO Elon Musk, who has been vocal about the dangers of AI falling into the wrong hands or being developed with ill intentions.

On March 15, news surfaced that Musk had plans to create a new AI startup, which would undoubtedly stir up even more debate around the topic. Despite his involvement in AI development, Musk has not shied away from acknowledging the potential risks associated with the technology. In fact, he has been one of the most prominent voices warning of its destructive potential.

During an interview with FOX, Musk stated that AI could be more dangerous than mismanaged aircraft design or production maintenance. He stressed that the probability of such an event occurring may be low, but it is non-trivial and has the potential for civilizational destruction. Musk believes that it is critical to have a proactive approach in managing the development of AI technology, to ensure it is used ethically and safely.

Musk’s warnings are not without merit, as there have been instances where AI has been used for malicious purposes. For example, AI-generated deepfakes have been used to spread disinformation and deceive the public. Additionally, the development of autonomous weapons powered by AI has raised concerns about the potential for the technology to be used in warfare and conflict.

To mitigate the potential risks associated with AI, Musk has called for regulation and oversight in its development. He has also advocated for the establishment of ethical guidelines and standards that ensure the technology is developed and used safely and ethically. Furthermore, he has encouraged researchers and engineers to focus on developing AI systems that align with human values, rather than those that prioritize efficiency and productivity over human wellbeing.

In conclusion, the potential risks associated with AI cannot be ignored, and Musk’s warnings should be taken seriously. While the development of AI has the potential to transform industries and improve our daily lives, it is crucial that we approach its development with caution and prioritize safety and ethics above all else.

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Elon Musk developing AI startup to rival OpenAI

by Blockchain News

In a move to expand his footprint in the AI industry, tech entrepreneur Elon Musk is reportedly creating a startup to rival one of his own previous ventures, OpenAI. According to the Financial Times, Musk is putting together a team of AI researchers and engineers to develop a new AI company that will compete with OpenAI. While Musk resigned from the board of OpenAI in 2018, the launch of his new AI startup will put him in direct competition with other tech giants like Google and Microsoft.

The report also suggests that Musk is in talks with investors, including existing supporters of SpaceX and Tesla, for investment in the new AI venture. According to a source, “a bunch of people are investing in it, it’s real and they are excited about it.”

This revelation follows a recent report stating that Musk procured almost 10,000 graphics processing units to power Twitter’s AI initiatives. On March 9, Musk also incorporated a company named X.AI, which he listed as the sole director. He changed the name of Twitter to “X Corp” in company filings as part of his plans to create an “everything app” under the “X” brand.

Interestingly, despite Musk’s involvement in AI development, he and over 2,600 other tech leaders and researchers signed an open letter on March 30 calling for a temporary halt on further AI development due to “profound risks to society and humanity.”

In the broader context of AI competition, Amazon Web Services (AWS) has also recently launched its Amazon Bedrock initiative. This will allow AWS users to build generative AI from foundation models.

Overall, Musk’s new AI venture will undoubtedly be one to watch in the coming months. As one of the most well-known and influential tech entrepreneurs of our time, his latest AI startup will undoubtedly capture the attention of the industry and the wider public.

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Elon Musk Moves Forward with AI Plans for Twitter

by Blockchain News

Elon Musk, the chief executive officer of SpaceX, Tesla, and Twitter (as of October 2022), has made news for his attempts to limit the development of artificial intelligence owing to fears about the influence AI would have on society. In spite of this, it would seem that Musk is proceeding with his own ideas for AI infrastructure. An article published by Business Insider claims that Elon Musk has acquired roughly 10,000 graphics processing units (GPUs) for the purpose of implementing an artificial intelligence project at Twitter.

As a result of the vast amount of compute power needed by the technology, it is common practice for large-scale AI models to make use of graphics processing units (GPUs). Prior to this, on March 18, 2018, Musk stated that the business will employ AI to “detect & highlight manipulation of public opinion” on Twitter. According to unnamed individuals acquainted with the firm, the procurement of such a large amount of graphics processing units (GPUs) demonstrates that Musk is devoted to this initiative. In addition, the sources disclosed that the project makes use of a substantial language model; nonetheless, the precise function of generative AI at Twitter is yet unknown.

Twitter has just just added two new engineers who both have substantial experience working in AI, in addition to the GPU purchase. After working at DeepMind, an artificial intelligence research unit of Alphabet, which is the parent company of Google, Igor Babuschkin and Manuel Kroiss joined Elon Musk’s team. These new advances come only a few short weeks after Elon Musk signed an open letter, along with hundreds of other experts working in the technology area, asking for a temporary pause to the development of artificial intelligence due to the threats it presents to mankind.

Musk has been quite open about his fears surrounding artificial intelligence, and he has in the past cautioned regulatory bodies that AI research needs to be controlled “before it’s too late.” It seems that he is adopting a proactive approach to the development of artificial intelligence technology, as shown by the fact that he has acquired AI expertise at Twitter and has also purchased GPUs. Although it has been claimed that the project is still in its early phases, Musk’s devotion to it suggests that he has no intention of slowing down in his attempts to enhance AI infrastructure.

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