- Arvind's Newsletter
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- Arvind's Newsletter
1.Open AI CEO fired by board but investors want to bring him back reported Financial Times
In a surprising turn of events, Sam Altman has been fired from OpenAI, the AI startup behind ChatGPT, DALL-E 3, GPT-4 and other highly capable generative AI systems. In a post on OpenAI’s official blog, the company wrote that Altman’s departure followed a “deliberative review process by the board” that concluded that Altman “wasn’t consistently candid in his communications” with other board members, “hindering its ability to exercise its responsibilities.” OpenAI CTO Mira Murati will take over as interim CEO.
However, OpenAI investors are working to get rid of the company’s board and reinstate Sam Altman as chief executive of the generative AI start-up, according to people with direct knowledge of the situation, in what would amount to a spectacular counter-coup.
A group of investors including Microsoft and prominent venture capital firms, along with employees at the company, were exploring options to resolve the crisis, according to three people briefed on the discussions.
2.Indian roads have become more fatal, shows latest accidents data, reports Mint
India recorded a sharp increase in road accidents in 2022, and the number crossed the pre-covid level for the first time to 461,312, data released by the road transport ministry earlier this month showed. Accidents have become more lethal over the years: last year, more than one-third of all accidents killed at least one person. The country lost 168,491 persons to accidents in 2022, a quarter of them aged 25-35.
3.Why RBI is making it tough for you to get a personal loan, reports Economic Times
Unsecured loans, though small in size, can pose a risk to the financial system if their expansion goes unchecked. The RBI observed an unusual growth of approximately 23 percent in unsecured loans, surpassing the country's average credit growth of 12-14 percent. This surge has even exceeded the overall bank credit growth of around 15 percent witnessed in the past year.
Small ticket borrowers are slowly starting to miss their repayments and seen to be delaying repayments beyond a month of the scheduled date. For consumers having at least one small-ticket personal loan, the balance-level delinquency rate or the percentage of borrowers missing a repayment was 5.4% in Q2’ 2003-24 , up 120 bps (basis points) since Q2 2022-23 a report by credit bureau Transunion Cibil notes.
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4.New York to finally launch congestion pricing
After multiple false starts over the past two decades, New York City is finally ready to launch a congestion pricing program next year, with the aim of funding subway upgrades, easing Manhattan traffic and clearing the air a bit (that is, if lawsuits by neighbouring New Jersey don’t block it).
5.What the “superforecasters” predict for major events in 2024, reports the Economist
Journalists and commentators often make predictions about the future using ambiguous, carefully chosen words. Other forecasters prefer the more precise language of numbers. Good Judgment, a forecasting firm, has recruited many such people to its team of superforecasters, who work together to provide detailed, specific forecasts. Here are their predictions for events in 2024.
image: the economist
image: the economist
image: the economist