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jordannovet.bsky.social
Jordan Novet
@jordannovet.bsky.social
3K followers 350 following 670 posts
Technology reporter @cnbc.com in San Francisco. [email protected]
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 1d
"Almost every company in our survey (99%) reported financial losses from AI-related risks ... . On average, the financial loss to companies that have experienced risks is ... an estimated total loss of US$4.3 billion across the 975 respondents" www.ey.com/en_gl/insigh...
How responsible AI translates investment into impact
Explore the ways in which responsible AI converts investment into meaningful impact.
www.ey.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 2d
terrific account
donalgriffin.bsky.social
Donal Griffin @donalgriffin.bsky.social · 3d
Wall Street banks lost $250m when they helped an unknown Ferrari-loving trader amass a $2.6b, 11,000/1 bet against US Treasuries. The bizarre story of Jan Ralph via
@bloomberg.com

www.bloomberg.com/news/features/2025-10-05/citigroup-goldman-mufg-among-banks-burned-in-2-6-billion-trade
Ferrari-Loving Trader Burned Wall Street With Bond Bet Leveraged 11,000-to-1
Citigroup and MUFG were among the firms stung by $2.6 billion trade that’s now at the heart of a London lawsuit, raising questions about client checks
www.bloomberg.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 2d
"Today, Stanford University announced a 14.3% investment return in its Merged Pool for the year ending June 30, 2025, bringing its five- and 10-year annualized return to 11.7% and 9.4%, respectively." news.stanford.edu/stories/2025...
Stanford University reports return on investment portfolio, value of endowment
Stanford University reported returns on its investment portfolio as of June 30, 2025, and the value of its endowment as of the close of its fiscal year, August 31, 2025.
news.stanford.edu
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 6d
"We face challenges with non-text data (embedded tables and spreadsheets), accuracy evaluation methods, and currently lag behind competitors in conversational experience that customers seem to be delighted with." -Amazon on the Q Business assistant, March 2025 www.businessinsider.com/amazon-q-sig...
Amazon internal review found its AI tool Q fell 'significantly' behind rivals on accuracy in its first year
Amazon's AI productivity tool Q Business faced significant accuracy challenges in its first year, leading to customer complaints and service updates.
www.businessinsider.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 7d
"I probably talk to LLMs like 10 times more than I talk to people." -Jake Adler, 21, founder of Pilgrim, a defense biotech startup sfstandard.com/2025/10/02/f...
Four kids, no dates: Tech bros plan families they’re too busy to start
Matchmakers say San Francisco has plenty of beautiful women. The tech bros just won’t show up.
sfstandard.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 7d
"Other Samsung group companies, including Samsung SDS Co., Samsung C&T Corp. and Samsung Heavy Industries Co., will also partner with OpenAI to explore future technologies. Those include floating data centers and collaboration in data center design." www.bloomberg.com/news/article...
Samsung, SK Hynix Ink Deal to Supply Gear to OpenAI’s Stargate
Samsung Electronics Co. and SK Hynix Inc. shares rose to their highest in years after South Korea’s largest companies forged initial agreements to supply chips to OpenAI’s Stargate project, reinforcin...
www.bloomberg.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 9d
"Many firms aren’t replacing workers who quit or retire because they’re paralyzed by the uncertainty around President Donald Trump’s trade policies, said Michael Hicks, an economics professor at Ball State University in Indiana and director of its Center for Business and Economic Research."
jessefelder.bsky.social
Jesse Felder @jessefelder.bsky.social · 10d
‘The “low-hire, low-fire” US labor market is leaving millions on the outside looking in.’ www.bloomberg.com/news/feature...
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Jordan Novet @jordannovet.bsky.social · 10d
still thinking about what Nick Clegg said www.bloomberg.com/news/newslet...
screenshot of Bloomberg article. the highlighted text says. "everybody’s kind of following the same trend. And that’s what's going to happen again, because guess what? The political weather will change." the full quote is as follows: Are you suggesting there’s been an overcorrection toward the US? Yeah, but that’s what Silicon Valley does: It always overcorrects. Silicon Valley is a place of stampedes and fads. The funniest thing is that Silicon Valley is a place that prides itself on challenging orthodoxy, conformity and conventional wisdom — and yet in many ways, it’s the most conformist place I've ever lived in my life: Everyone dresses the same, they drive the same cars, they listen to the same podcasts, they claim to read the same books. You get this extraordinary herd behavior and everyone thinks they’re being super insightful, but in fact everybody’s kind of following the same trend. And that’s what's going to happen again, because guess what? The political weather will change! Politics is always fluid.
jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 10d
"Many of the laws don’t cover generic chatbots like ChatGPT, which are not explicitly marketed for therapy but are used by an untold number of people for it." apnews.com/article/ai-t...
Regulators struggle to keep up with the fast-moving and complicated landscape of AI therapy apps
As mental health chatbots driven by artificial intelligence proliferate, a small number of states are trying to regulate them.
apnews.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 10d
hmm
edzitron.com
Ed Zitron @edzitron.com · 10d
Even Microsoft is failing at AI. I can exclusively report that in August, Microsoft had 8 million active paying licenses for Microsoft 365 Copilot, a product with 440 Million customers. Even if they have 4 million inactive ones, that's a 2.72% conversion rate.
www.wheresyoured.at/the-case-aga...
Even Microsoft Is Failing At AI, With Only 8 Million Active Paying Microsoft 365 Copilot Subscribers Out Of 440 Million+ Users Before I go any further, let’s establish some facts: In its last quarterly earnings, Microsoft made $33.1 billion in revenue in its Productivity and Business Processes segment, which includes Microsoft 365 (Word, Excel, PowerPoint, and so on), LinkedIn, its “Dynamics” business products, and its lucrative Microsoft 365 commercial division. As of January 2024, Microsoft’s Office 365 commercial seats grew to 400 million paying subscribers, and The Information reported in September 2024 that these had reached 440 million. Organizations generally pay for a particular SKU (product code) that includes a series of different pieces of software, accessing things like Word, Excel, PowerPoint, SharePoint (an internal document management system) and other business apps. Microsoft offers two SKUs for Copilot for commercial users — a free one called “Copilot Chat,” and “Microsoft 365 Copilot,” a $30-a-month subscription, paid annually, on top of your Microsoft 365 subscription. All of this is to say that Microsoft has one of the largest commercial software empires in history, thousands (if not tens of thousands) of salespeople, and thousands of companies that literally sell Microsoft services for a living. And it can’t sell AI. A source that has seen materials related to sales has confirmed that, as of August 2025, Microsoft has around eight million active licensed users of Microsoft 365 Copilot, amounting to a 1.81% conversion rate across the 440 million Microsoft 365 subscribers. This would amount to, if each of these users paid annually at the full rate of $30-a-month, to about $2.88 billion in annual revenue for a product category that makes $33 billion a fucking quarter. And I must be clear, I am 100% sure these users aren’t all paying $30 a month. The Information reported a few weeks ago that Microsoft has been “reducing the software’s price with more generous discounts on the AI features, according to customers and salespeople,” heavily suggesting discounts had already been happening. Enterprise software is traditionally sold at a discount anyway — or, put a different way, with bulk pricing for those who sign up a bunch of users at once. In fact, I’ve found evidence that it’s been doing this a while, with a 15% discount on annual Microsoft 365 Copilot subscriptions for orders of 10-to-300 seats mentioned by an IT consultant back in late 2024, and another that’s currently running through September 30, 2025 through Microsoft’s Cloud Solution Provider program, with up to 2400 licenses discounted if you pay upfront for the year. Microsoft seems to do this a lot, as I found another example of an offer that ran from January 1 2025 through March 31 2025. An “active” user is someone who has taken one action on Copilot in any Microsoft 365 app in the space of 28 days. Now, I know. That word, active. Maybe you’re thinking “Ed, this is like the gym model! There are unpaid licenses that Microsoft is getting paid for!” Fine! Let’s assume that Microsoft also has, based on research that suggests this is the case for all software companies, another 50% — four million — of paid Copilot licenses that aren’t being used. That still makes this 12 million users, which is still a putrid 2.72% conversion rate. So, why aren’t people paying for Copilot? Let’s hear from someone who talked to The Information: “It’s easy for an employee to say, ‘Yes, this will help me,’ but hard to quantify how. And if they can’t quantify how it’ll help them … it’s not going to be a long discussion” over whether the software is worth paying for, Thompson said. Microsoft 365 Copilot has been such a disaster that Microsoft will now integrate Anthropic’s models in an attempt and make them better.
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 10d
"About half of retail investors say they would use AI tools such as ChatGPT ... or Google's Gemini to pick or alter investments in their portfolio, and 13% of them already use these tools, according to a survey from broker eToro, which polled 11,000 retail investors" www.reuters.com/business/fin...
'ChatGPT, what stocks should I buy?' AI fuels boom in robo-advisory market
As ChatGPT nears its third birthday, at least one in 10 retail investors is using a chatbot to pick stocks, fuelling a boom in the robo-advisory market, but even fans say it is a high-risk strategy that cannot replace traditional advisors just yet.
www.reuters.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 10d
yeah credit goes to Om!
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 10d
"I came here in an Uber this morning and asked the guy what street we were on. He had no clue. He said, 'I just follow it.'" -Rodney Brooks to @om.co crazystupidtech.com/2025/09/29/i...
iRobot Founder: Don’t Believe The (AI & Robotics) Hype!
Rodney Brooks, co-founder of three robotic companies and an AI guru has a pragmatic and honest opinions about the state of AI and Robotics. An interview!
crazystupidtech.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 11d
"Thawing permafrost is thought to have exposed sulfide minerals to weathering, delivering iron and other potentially toxic metals to aquatic ecosystems."
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 11d
"The streams of Alaska’s Brooks Range lie within a vast (~14M ha) tract of protected
wilderness and have long supported both resident and anadromous fish. However,
dozens of historically clear streams have recently turned orange and turbid." www.pnas.org/doi/10.1073/...
Wild, scenic, and toxic: Recent degradation of an iconic Arctic watershed with permafrost thaw | PNAS
The streams of Alaska’s Brooks Range lie within a vast (~14M ha) tract of protected wilderness and have long supported both resident and anadromous...
www.pnas.org
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 14d
news you can use Dan
jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 14d
"Increasingly, we're finding that when we launch innovative new things at Reinvent it's valuable if we can actually launch them, as opposed to just pre-announce them." Matt Garman, CEO, Amazon Web Services www.reuters.com/business/fin...
Amazon's AWS CEO chides staff for slow product rollouts
Amazon Web Services' top executive admonished staff on Thursday for what he called slow product rollouts by the cloud computing provider at its premier Reinvent customer event in December, according to a transcript of a meeting reviewed by Reuters.
www.reuters.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 14d
try not to run dirty clothes through the dryer. it's a good idea to put them in the washer first
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 14d
"Between 2018 and 2022 big tech firms hired an average of 133 graduates from four top MBA programmes. Last year they hired 50." www.economist.com/business/202...
The individual usurps the firm as the leading actor in business
The winners who take it all
www.economist.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 15d
in 1999, Oracle employed the slogan "The Internet Changes Everything" web.archive.org/web/20030212...

on Monday, Oracle executives discussed the appointment of the company's two new CEOs on a webcast entitled "AI Changes Everything"
screenshot of Q4 webcast from Oracle. at the center is an image showing a building with a red Oracle sign near the top. In white text in the clouds there are the words "AI Changes Everything"
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 15d
emerging profession: workslop cleaner
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Jordan Novet @jordannovet.bsky.social · 15d
"In our time together, I hit only one roadblock: Deep into the night, when I tried to bring up politics, Johnson raised his glass and clinked it on mine. 'Sam, brother, you’ve asked a lot of great questions today,' he said. 'What’s your next one?'" www.nytimes.com/2025/09/21/m...
What Dwayne ‘the Rock’ Johnson Knows About Pain
www.nytimes.com
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jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 16d
right - currently more curious about the "site in the Midwest"
jordannovet.bsky.social
Jordan Novet @jordannovet.bsky.social · 16d
Andi we've got to keep these computers from taking drugs
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Jordan Novet @jordannovet.bsky.social · 16d
lol try again Bing
screenshot of Bing. search query is "nvidia to buy arm." the headline of the AI-generated title says "NVIDIA has officially acquired Arm from SoftBank for $40 billion, aiming to create a leading computing company for the age of AI." below that is an overview of the deal. it says "NVIDIA announced a definitive agreement to acquire Arm Limited from SoftBank Group Corp. in a transaction valued at $40 billion. This acquisition is seen as a strategic move to combine NVIDIA's AI computing platform with Arm's extensive ecosystem, enhancing innovation across various technology sectors, including smartphones, PCs, and self-driving." and then it cuts off. a "read more" button is below.
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