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Elon Musk’s provide of Clubhouse chat with Putin is fascinating

Russian President Vladimir Putin will attend the expanded ministries of interior in Moscow on February 26, 2020.

Mikhail Svetlov | Getty Images

According to several media reports, Russia has not ruled out President Vladimir Putin talking to Tesla billionaire Elon Musk via the social media app Clubhouse.

Kremlin spokesman Dmitry Peskov told reporters on Monday that the proposal was “interesting” but that more details are needed, according to Tass News Agency. The news was also reported by Reuters and the Russian media company RBC.

“First we want to find out, you know that President Putin does not use social networks directly, he does not run them personally,” said Peskov, loudly translated.

“In general, this is a very interesting proposition, but one must first understand what is meant, what is being proposed.”

The Kremlin did not immediately respond to CNBC’s request for comment.

On Saturday, Musk invited Putin on Twitter to talk about Clubhouse, an audio-only app that is growing rapidly after its popularity in Silicon Valley.

The CEO of Tesla and SpaceX then said in Russian, “It would be a great honor to speak to you.”

According to the app tracker App Annie, the clubhouse has been downloaded around five million times. Like other US social media platforms, it was blocked in China last week.

The invite-only iPhone app allows people to have “on-stage” conversations while an audience is listening. Members of the audience can be invited “on stage” to ask questions of the speakers.

Musk interviewed Robinhood co-founder Vlad Tenev at the clubhouse on January 30th, and last Wednesday the entrepreneur wrote on Twitter that he had agreed to “do clubhouse” with Kanye West.

Last month, Clubhouse was valued at around $ 1 billion by investors. Twitter has launched its own version called Spaces, while Facebook is reportedly working on a similar product.

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Business

Tesla CEO Elon Musk tweeted on Tuesday: “I kinda love Etsy.”

Etsy executives welcome the opening of Nasdaq MarketSite ahead of Etsy going public on April 16, 2015 in New York.

Michael Nagle | Bloomberg | Getty Images

Etsy stocks pop after Tesla CEO Elon Musk sent a simple tweet about the e-commerce company.

Ety’s stock rose as much as 8% after Musk tweeted, “I kind of love Etsy.”

The e-commerce company’s stocks weren’t at all ahead of Musk’s callout at 6:25 a.m. ET. The share recently gained 1.5%.

“I bought a hand-knitted woolen Marvin oar for my dog,” Musk tweeted, apparently referring to why he’s a fan of Etsy.

While Musk’s opinion certainly carries a lot of weight with investors, the stock’s surge in his short message is yet another sign of wild, speculative trading in the market. Musk is no stranger to wildcat activity on Twitter, with a history of swaying stock prices, especially Tesla shares, with bold statements on the social media platform.

Musk infamously tweeted last year that Tesla’s shares were “too high” and sent even higher shares a week later.

Etsy stocks are up more than 340% in the past 12 months as the shopping market emerged as the top winner in the coronavirus pandemic. Etsy helped small businesses with no online presence reach consumers during the lockdown.

The stock is up 25% this year alone.

Also on Tuesday, Jefferies raised its 12-month price target for Etsy to a street high of $ 245 per share.

“We believe that behavioral changes triggered by the pandemic will allow ETSY to tap a broader portion of its $ 1.7 billion addressable market, resulting in higher frequency and higher spending,” said John Colantuoni, analyst at Jefferies. towards customers.

“Our DCF-derived PT climbs to $ 245 (down from $ 205) as the accelerated traffic and our deep dive into the long-term GMS improve our confidence in ETSY’s ability to continue to grow faster than all e-commerce grow, “added Colantuoni.

Correction: Updated the headline to correct that Musk was tweeting about the company in general.

– with reports from Michael Bloom of CNBC.

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World News

Sign Advance jumps one other 438% after Elon Musk fueled shopping for frenzy

BERLIN, GERMANY – SEPTEMBER 2: Tesla boss Elon Musk comes to a retreat of the CDU / CSU parliamentary group of the German Christian Democrats on September 2, 2020 in Berlin, Germany. Musk is currently in Germany, where he met yesterday with vaccine maker CureVac, which Tesla is working with to build equipment to make RNA vaccines. Today it is also said to have the location of the new Gigafactory under construction near Berlin.

Maja Hitij | Getty Images News | Getty Images

Four days after Elon Musk, CEO of Tesla, urged Twitter followers to use “Signal,” a reference to the nonprofit funded Signal-encrypted messaging app, investors got the price from Signal Advance, a maker small components whose shares are traded over the counter, increased even further.

During Monday’s trading session, the stock rose 438% to hit a high of $ 70.85, after closing at 60 cents on Jan. 6, the day before Musk’s tweet. The share recorded its highest trading volume since going public in 2014 on Monday; More than 2 million shares changed hands while not a single share was traded on January 4th. Signal Advance, which had no revenue in 2015 and 2016, is now worth more than $ 3 billion.

Signal Advance stock chart

CNBC

The buying fever that set in shortly after Musk’s comment highlights an occasional problem in the public markets of people inadvertently investing in the wrong companies.

A similar case occurred in 2019 when some people bought shares in Zoom Technologies, whose ticker symbol was ZOOM, but not the trending video calling service Zoom Video Communications, which operates under the symbol ZM. Last year, the US Securities and Exchange Commission stopped trading Zoom Technologies, partly because of confusion over its association with Zoom Video.

Signal Advance’s only full-time employee, Chris Hymel, did not immediately respond to a request for comment on Monday.

For many years, Musk’s online statements have attracted considerable attention. Last week, Musk’s profile reached new heights as he became the richest person in the world and Tesla’s market cap surpassed Facebook’s.

On Sunday, Musk said on Twitter that he would be giving money to support Signal.

CLOCK: Palihapitiya on Musk: The richest person in the world should be someone fighting climate change

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World News

Elon Musk-backed OpenAI reveals off Dall-E picture generator after GPT-3

SpaceX founder Elon Musk attends a post-launch press conference after the SpaceX Falcon 9 rocket launched from the Kennedy Space Center in Cape Canaveral, Florida on an unscrewed test flight to the International Space Station on the Crew Dragon spacecraft on March 2, 2019 .

Mike Blake | Reuters

Armchairs in the shape of avocados and baby daikon radishes with tutus are among the quirky images created with new software from OpenAI, an Elon Musk-supported artificial intelligence laboratory in San Francisco.

OpenAI trained the software known as Dall-E to generate images from short text captions. Specifically, it used a data set of 12 billion images and their captions found on the Internet.

The lab said Dall-E – a portmanteau by Spanish surrealist artist Salvador Dali and Wall-E, a small animated robot from the Pixar movie of the same name – learned to create images for a variety of concepts.

OpenAI showed some of the results in a blog post published on Tuesday. “We found that [Dall-E] has a number of capabilities, including creating anthropomorphized versions of animals and objects, plausibly combining unrelated concepts, rendering text, and applying transformations to existing images, “the company wrote.

Dall-E is based on a neural network, a computer system vaguely inspired by the human brain that can recognize patterns and identify relationships between huge amounts of data.

While neural networks have previously generated images and videos, Dall-E is unusual in that it relies on text input while the others don’t.

Synthetic videos and images have become more complex in recent years as it has become difficult for humans to distinguish between the real and the computer generated. For example, General Adversarial Networks (GANs), which use two neural networks, have been used to create fake videos of politicians.

OpenAI acknowledged that Dall-E has “the potential for significant broad societal impacts” and plans to analyze how models such as Dall-E “relate to societal issues such as economic impact on certain work processes and occupations, and the potential for bias the model results and the longer term ethical challenges this technology poses. “

GPT-3 successor

Dall-E comes just a few months after OpenAI announced that they have built a text generator called GPT-3 (Generative Pre-Training), which is also supported by a neural network.

The speech generation tool is able to produce human-like text if necessary. It became relatively famous for an AI program when people realized it could write its own poems, news articles, and short stories.

“Dall-E is a Text2Image system that is based on GPT-3, but is trained on text and images,” said Mark Riedl, associate professor at Georgia Tech School of Interactive Computing, told CNBC.

“Text2image isn’t new, but the Dall-E demo is remarkable for producing illustrations that are much more coherent than other Text2Image systems I’ve seen over the years.”

OpenAI has competed with companies like DeepMind and the Facebook AI Research Group to develop general-purpose algorithms that can perform a wide range of tasks at the human level and beyond.

Researchers have developed AIs that can play complex games like chess and the Chinese board game Go, translate one human language into another, and detect tumors on a mammogram. However, getting an AI system to show real “creativity” is a major challenge in the industry.

Riedl said the Dall-E results showed it had learned to mix concepts coherently, adding that “the ability to mix concepts coherently is seen as a key form of creativity in humans”.

“From a creativity standpoint, this is a big step forward,” added Riedl. “While there isn’t much agreement on what it means for an AI system to ‘understand’ something, the ability to use concepts in new ways is an important part of creativity and intelligence.”

Neil Lawrence, former director of machine learning at Amazon Cambridge, told CNBC that Dall-E looks “very impressive.”

Lawrence, who is now a professor of machine learning at Cambridge University, described it as “an inspiring demonstration of the ability of these models to store and generalize information about our world in ways that people find very natural”.

He said, “I assume there will be all kinds of uses of this type of technology that I can’t even imagine. But it’s also interesting to be another pretty mind-blowing technology that solves the problems that we have have not resolved. ” I even know that we actually had it. “

“Doesn’t improve the state of the AI”

Not everyone is that impressed with Dall-E, however.

Gary Marcus, an entrepreneur who sold a machine learning start-up to Uber for an undisclosed sum in 2016, told CNBC that it was interesting but “didn’t advance the state of AI.”

He also pointed out that it is not from open sources and the company has not yet published any paper on the research.

Marcus previously questioned whether some of the research published in recent years by the competitor’s DeepMind lab should be classified as “breakthroughs”.

OpenAI was founded as a nonprofit with a $ 1 billion commitment by a group of founders including Elon Musk, CEO of Tesla. In February 2018, Musk left the OpenAI board, but continues to donate and advise the organization.

OpenAI turned for-profit in 2019, raising an additional $ 1 billion from Microsoft to fund its research. GPT-3 will be OpenAI’s first commercial product and Reddit signed up as one of the first customers.

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World News

Elon Musk boosts Sign app, Sign Advance inventory jumps 1100%

Elon Musk, CEO of Tesla, stands on the construction site of the Tesla Gigafactory. In Grünheide near Berlin, September 3, 2020.

Patrick Pleul | Image Alliance | Getty Images

When Elon Musk, CEO of Tesla, asked his Twitter followers on Thursday to “use Signal”, he meant the encrypted messaging app. Some people seem to have got it wrong.

Shares of an obscure and independent company called Signal Advance, which trades over the counter, rose 527% Thursday and another 91% on Friday, from 60 cents to $ 7.19.

The signal Musk was referring to is operated by a non-profit organization and serves as an alternative to SMS apps like Facebook Messenger, WhatsApp, and Apple’s messaging service. That signal went to Twitter on Friday to clarify that it has nothing to do with Signal Advance.

“It’s understandable that people would want to invest in Signal’s record growth, but it’s not us,” Signal wrote. “We are an independent 501c3 and our only investment is in your privacy.”

It’s a known problem on Wall Street.

In April 2019, the day Zoom Video Communications made its much-anticipated market debut under the ticker symbol ZM, a Chinese company called Zoom Technologies rose more than 80% in two hours of trading. The stock gave up most of those gains that day, closing 10%.

Six years earlier, as investors waited for Twitter to go public, shares in Tweeter Home Entertainment Group rose more than 1,000%.

Signal Advance was founded in Texas in 1992 under the name Biodyne and provided services to medical and legal professionals. The company shifted its focus to the use of technology in healthcare and changed its name to Signal Advance. The thinly traded stock hit the market in 2014.

Signal Advance is so small it doesn’t file any financial information with the SEC. As of March 2019, there were no full-time employees other than CEO Chris Hymel who did not immediately respond to a request for comment.

Due to the swarm of unintended investor interest, the company now has a market cap of $ 660 million, down from $ 55 million two days ago. As of Thursday, the stock had traded below $ 1 since 2015.

The Signal Messaging app, supported by the Signal Technology Foundation, “runs on donations only,” said a New York article published in October.

The group had other concerns after Musk tweeted his 41-plus million followers. Signal said Thursday there were technical issues with reviews because “so many new people are trying to join”.

Both technical snafu and frantic trading in an unrelated stock underscore Musk’s growing influence. On Thursday, he became the richest person in the world thanks to Tesla’s nearly 800% increase in market cap last year. On Friday, Tesla became the fifth largest public company in the United States, surpassing Facebook.

CLOCK: Former Ford CEO Mark Fields on what Tesla needs to focus on in 2021

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Business

Jay Leno reveals what he thinks is the genius behind Elon Musk, Tesla

Jay Leno said he thinks the genius of Tesla CEO Elon Musk was that “he built the infrastructure while he built the vehicle”.

“Even today, many major manufacturers build an electric car, but where do you charge it?” Leno told The News with Shepard Smith during a Friday night interview. “Elon was smart when he started, he knew this idea would work, so he built charging stations.”

Electric car maker Tesla will be the newest member of the S&P 500 on Monday.

2020 was a monster year for Tesla, the sixth largest company in the world – its inventory has grown by about 700% that year. CNBC’s “Jay Leno’s Garage” host said he was confident Tesla could maintain its dominance in electric vehicles, adding that he had seen European electric cars fall short.

“You don’t have the range of the Tesla,” Leno said. “They’re not doing it because Tesla is leading the field. We seem to have this inferiority complex that things in Europe are somehow better than the things that were built here.”

Leno gave host Shepard Smith examples of superior American innovation, including General Motors’ Corvette, which he believes rivals the Lamborghini and Ferrari and costs just $ 60,000.

He highlighted America’s dominance in private industry and pointed to Musk’s success in the space industry.

“The fact that Elon can send a rocket into space and land it back on earth for a tenth the price of the US government?” Said Leno. “Well, that’s exactly what the private sector should do – cheaper, faster, more efficiently.”

Leno suggested that those who want to feel the “rumble of a car beneath them” should “buy another car.” He admitted that he loves Ferraris, Ford Cobra and Lamborghinis on weekends, but that sitting in traffic and driving on the spot just isn’t practical.

“When you’re in a quiet electric vehicle, you don’t pollute and save,” Leno said. “When I want to have fun, I take out my 1960 Triumph TR3 and bomb around, but in terms of everyday vehicles you can’t beat it.” [the Tesla]. “