Business and Tech News - 4.1.24

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Skool Projekt Staff
April 01, 2024

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AT&T Data Leak

The personal data of 73 million AT&T customers, including names, emails, and birthdates from 2019 or earlier, has been leaked online. AT&T is working with cybersecurity experts to investigate the source of the breach, as the origin of the data remains uncertain, and has reset customer passcodes as a precaution. The company advises customers to monitor their accounts and credit reports, following a major outage that led to an investigation by NY prosecutors.

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Missed out on Ring and Nest? Don’t let RYSE slip away!

Ring 一 Acquired by Amazon for $1.2B

Nest 一 Acquired by Google for $3.2B

If you missed out on these spectacular early investments in the Smart Home space, here’s your chance to grab hold of the next one.

RYSE is a tech firm poised to dominate the Smart Shades market (growing at an astonishing 55% annually), and their public offering of shares priced at just $1.50 has opened. 

They have generated over 20X growth in share price for early shareholders, with significant upside remaining as they just launched in over 100 Best Buy stores.

Retail distribution was the main driver behind the acquisitions of both Ring and Nest, and their exclusive deal with Best Buy puts them in pole position to dominate this burgeoning industry.

 

California Fast Food Minimum Wage Goes Into Effect

Starting today, California's fast food workers will earn a minimum wage of $20 per hour, acknowledging the financial needs of adult workers and their families. The law, a compromise between the fast food industry and labor unions, aims to improve wages but has raised concerns among franchise owners about higher operational costs and potential price increases. It targets fast food chains with at least 60 locations nationwide, excluding restaurants within grocery stores or those primarily selling bread.

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Japanese Officials Inspect Another Kobayashi Pharma Facility

Japanese authorities inspected a second Kobayashi Pharmaceutical factory amid an investigation into five deaths possibly linked to dietary supplements containing toxic "Beni-Koji" red yeast, with 114 people hospitalized. Kobayashi is investigating a suspected link between its products and kidney disease, prompting an international recall after delays in announcing the risks. The health scare has prompted reactions from Japan, Taiwan, China, and South Korea, affecting potentially over 1,800 foodmakers globally.

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U.S. Inflation Rose Slightly in February

Inflation and consumer spending data released showed core personal consumer expenditures (PCE) inflation hitting a 2.8% annual increase, in line with forecasts, while consumer spending outpaced expectations with a 0.8% monthly rise. The comprehensive PCE inflation rate, accounting for volatile food and energy prices, aligned with annual predictions but surpassed monthly expectations. Despite these figures, the market remains optimistic about the Federal Reserve beginning interest rate cuts by June, maintaining a watchful eye on inflation trends.

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OpenAI Can Clone Your Voice in 15 Seconds

OpenAI has launched Voice Engine, a platform capable of creating synthetic voices from brief audio clips, supporting multi-lingual output, and currently accessible to a handful of companies for diverse uses. Developed since 2022, the technology powers OpenAI's text-to-speech services, including ChatGPT's Read Aloud feature, with strict usage policies to avoid misuse and impersonation. To address potential risks, OpenAI recommends several strategies, including eliminating voice-based authentication and increasing awareness about the capabilities and dangers of AI-generated audio content.

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Here’s how the markets closed on Friday:

 

 

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Disclaimer: This content is not intended as financial guidance. The purpose of this newsletter is purely educational, and it should not be interpreted as an encouragement to engage in buying, selling, or making any financial decisions regarding assets. Exercise caution and conduct your own research before making any investment choices.