Strike out Hollywood writers and studios have finalized the language of a tentative contract that will lead to the end of a nearly 150-day labor strike, though there isn’t a deal for actors yet. Leaders from the Writers Guild of America voted unanimously to end the strike on Wednesday. Writers were able to gain significant protections against the use of artificial intelligence. Under the agreement, AI cannot write or rewrite literary material and AI-generated material will not be considered source material.
World’s fastest growing economy Guyana, a country in South America with a population of about 800,000 people, is projected to grow 38% by the end of the year — an “extremely fast” pace, according to recent GDP forecasts by the International Monetary Fund. It may be on track to grow by more than 100% by 2028, largely fueled by profits from its oil production and export sector.
PRO Forget India India’s growth prospects have seen many investors and big-name banks turn bullish on the country, but portfolio manager Kamil Dimmich says he’s steering clear because India looks very expensive right now, even considering the fact that it has traditionally been priced higher than other emerging markets. Another market in Asia offers better value — and it’s not China.
The prognosis seems more dire, with JPMorgan Chase chief executive Jamie Dimon and Minneapolis Federal Reserve President Neel Kashkari adding to the bearish undertones Tuesday. Despite the Fed’s official guidance, they are suggesting that more interest rate hikes may be lurking.
Tech-related names, particularly those in the artificial intelligence space, have been some of the more eye-catching outperformers this year — so how do investors refine their thinking on the sector?
“We’re starting to think that the model of a successful tech company in 2023 … the optimal size is probably not that big,” Herman Narula, chief executive of the Softbank-backed virtual reality startup Improbable, told CNBC. “You probably want to be thinking about much smaller companies overall.”
Improbable said it reduced losses by 85% in 2022, a year that saw the company pivot its focus to powering new “metaverse” experiences. Narula said Improbable has managed to ship more products with fewer people, thanks to advances in generative artificial intelligence.
Will productivity gains be manifest in upcoming tech-related names?
Tech, with its inherent pioneering promise, is often thought to offer the best hope against the lack of clarity on the future. That may seem like the case in this moment, but it doesn’t hurt to look more deeply.