Down Round

Tencent is one of the largest and most valuable companies on earth, with operations that touch just about every part of the digital economy in China and beyond. From WeChat to gaming to film production to payments, Tencent continues to expand far beyond its original station as a Chinese app developer.

In this ep, we take a tour through Tencent, including its weird connections to a South African company. Classic Down Round material.

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You thought that because COVID was long over you could stop hearing about GameStop. Wrong! Keith "RoaringKitty" Gill has returned, and the notorious meme stock has been pumping as a result.

We took this as an excuse to revisit the GameStop story from the beginning, exploring the factors which led to the original phenomenon. 

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This week, Apple held the keynote at its annual Worldwide Developers Conference (WWDC), where it traditionally announces its upcoming software updates.

As predicted, the company announced its moves into generative AI – which it is bundling under the name Apple Intelligence – alongside a partnership with OpenAI. In this ep, we dive into the announcements, and what they mean for Apple going forward.

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A few weeks ago, Microsoft announced its new Surface Laptop with Copilot + PC, which it intends to be a direct competitor with the MacBook Air. On the one hand, it's an interesting attempt to get Windows PCs back into competition. ON the other hand, it's also an attempt by Microsoft to wind LLMs an AI into its operating system.

In this ep, we talk about the Apple/Microsoft rivalry, and whether these attempts to cram AI in at the operating system level will appease investors who are looking for revenue.

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For a long time, it wasn't a great look for startups and big tech – outside of companies like Microsoft – to openly work with the military-industrial complex. That was for contractors like Raytheon and General Dynamics. Tech generally maintained the sunny disposition that it was better to enable world peace through well targeted digital ads.

That has changed, and startups like Anduril are now positioning themselves as a new generation of military supplier, marrying Silicon Valley innovation with surveillance tools and military weaponry. In this ep, we look at the history of Silicon Valley and the military, and this new crop of weapons makers.

Links

• Defence and Anduril unveil first Ghost Shark prototype
• ‘The machine did it coldly’: Israel used AI to identify 37,000 Hamas targets – The Guardian
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In the first part of a two-part episode on Google and OpenAI's tough PR challenges of the past couple of weeks, we dive into Google's launch of AI summaries on the web, which led the venerable search engine to recommend pregnant women blast cigs and amateur chefs to mix glue into their pizza sauce.

We chat about the rocky launch, what it means for Google, and how it might affect the web going forward. Later this week, premium subscribers can hear us talk about OpenAI's fight with Scarlett Johanssen and its own employees over NDAs. (Sign up here and you won't miss out!)

Links

• Google CEO Sundar Pichai on AI-powered search and the future of the web – The Verge
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It's time for another edition of DOWN ROUND Q&A. We solicited questions from both or premium members in Discord and our followers on X, and today we're answering them for you. We cover everything from macOS to LLMs to Boeing and smart homes.

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The pain for the gaming industry doesn't seem over, with Xbox closing studios, more layoffs, Sony fighting with its fanbase and growth looking sluggish. It raises one big question: has blockbuster game development outrun its ability to actually make money?

In this episode, we return to the world of gaming to discuss Microsoft, Sony and Nintendo, the increasingly fraught big budget gaming financial model, and a few fun digressions along the way.

Links

• Inside Microsoft’s Xbox turmoil – The Verge
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Apple and Google are both on the precipice of announcing deeper integration of generative AI into their respective operating systems. Google's IO conference is this week, and reporting abounds that Apple has inked a deal with OpenAI to integrate GPT with iOS. There's a big question as to whether they're doing this because users actually want it, or because investors and the market thinks they should.

In this episode, we talk about Google and Apple, what their AI implementations might look like, and just where this is all going. Also, a sad mea culpa for the Rabbit R1.

Links

• Apple Nears Deal With OpenAI to Put ChatGPT on iPhone – Bloomberg
• Google I/O 2024 will be all about AI again – The Verge
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Quantum computing has been a research and academic pursuit for decades, but it has been picking up buzz over the last few years as both big tech companies and smaller startups get into the space. The Australian government recently announced a $1 billion investment into quantum startup PsiQuantum, which gives us an excuse to talk about it.

What is quantum computing? Is it actually useful? Can I buy one? All will be answered, and more. WARNING: The words 'qubit' and 'entanglement' will be used.

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