đź’Ľ ChatGPT clocks in
Hey Snackers,
Don’t you wanna Fanta… perfume? Coca-Cola’s Fanta brand is releasing a limited-edition fragrance, “Scent of Fanta.” It was previously available only by dousing yourself in the orange soda.
The tech-dense Nasdaq slid again as investors considered the possibility of another Fed rate hike in May. Today, all eyes are on the March consumer inflation report. Next up: Q1 earnings season. US companies are expected to report the steepest profit drop since Covid lockdowns.
Samsung and other companies stress over employee use of ChatGPT as data worries emerge
No “undo” button here… While submitting prompts to ChatGPT, Samsung employees leaked secret company info to the AI chatbot, a report from The Economist Korea said. After Samsung’s chip-making division gave engineers the green light to use OpenAI’s chatty bot, employees apparently shared sensitive source code and meeting recordings to streamline their work. Now Samsung is reported to be restricting employee use of CGPT and trying to build its own bot.
- Feeding the gremlin: The more prompts you feed CGPT, the more its AI brain grows. CGPT’s data policy allows OpenAI to leverage users’ prompts to train its bots (unless they opt out).
CGPT spills the tea… OpenAI urges users not to share private info with CGPT because it could use parts of your prompt input in its responses to others. But recent surveys suggest that CGPT is already broadly used by corporate workers. Meanwhile, OpenAI-backer Microsoft is incorporating CPGT into its productivity software like Word and Excel. Samsung isn’t the only corporate giant sweating over employee chats with ChatGPT.
Corporate titans like JPMorgan, Verizon, and Goldman Sachs have blocked employee access to CGPT, while others like Amazon and Walmart have reportedly issued warnings not to share sensitive info with the tool.
Italy has banned CPGT, at least for now, saying it collected personal data — and other EU countries are also considering restricting it over data-privacy concerns.
New tools need new rules… Nearly half of companies are scrambling to draft guidelines for CGPT, since the haziness around employee use poses a security threat. Meanwhile, the Biden admin is exploring whether rules need to be imposed on AI bots, including whether a certification process should be required before release.
Tupperware says it’s on the brink of going stale as its name-brand power wanes
Put a lid on it… Tupperware's leaking profits. The 77-year-old food-storage icon said that it may have to shut down, and that it’s hired advisers in a bid to seal its survival as sales slump. Since the news hit last week, its stock has plunged nearly 50%. Tupperware enjoyed a pandemic boom as locked-down shoppers breathed new life into leftovers, but it didn't last.
The Tupperware party’s over… Last year sales dropped 18%, and the biz ended the year with $700M+ in debt.
Trays not chic: Tupperware rose to fame with 1950s "Tupperware parties," but has struggled to catch on with younger generations (despite a distribution deal last year with Target).
Going green to get that green… Tupperware lost out as younger shoppers passed on plastic resealable tubs in favor of more sustainable glass or metal options. FYI: 84% of surveyed US shoppers said they're concerned about plastic waste, and more than 60% said they'd pay more for sustainably packaged products. Last year, Tupperware's CEO said the plastic powerhouse would expand its offerings to include more glass and stainless steel. Tupperware's pitch as the OG reusable product wasn't enough to shift consumer shopping sentiment.
Genericized products have generic competition… Tupperware's a name brand, but lots of shoppers equate its products with any resealable food container. It's a common problem for brands that've become so ubiquitous they define an entire category (like: Kleenex, Q-tips, and Ziploc). While consumers might splurge extra on brand-name Coke or Nikes rather than knockoffs, items like food containers and cotton swabs are seen by many as interchangeable. And if generic options are cheaper or more sustainable, they have a leg up.
What else we’re Snackin’
Cure: Credit-reporting biggies Equifax, Experian, and TransUnion plan to remove medical debt under $500 from credit reports. FYI: the move would clear nearly 70% of all the medical debt in collections.
Charged: Ford will invest $1.3B to transition an Ontario assembly plant into an EV hub to produce its next-gen vehicles. It’s all part of the OG automaker’s plan to assemble 2M EVs annually by 2026.
Draft: The Writers Guild of America began voting yesterday to determine if it can call a strike on May 1 if an agreement with studios isn’t met. A strike could mean shorter TV-scripted seasons (and a bump for reality TV).
Dig: Gold-mining giant Newmont upped its bid to buy Australian rival Newcrest from $17B to a record $19.5B as gold prices approach all-time highs. Such mergers have stacked up as gold deposits dry up.
Hike: Google’s YouTube TV, the new rights holder for NFL “Sunday Ticket,” is increasing the package’s cost to $350 for YouTube TV subscribers and to $450 for non-subscribers. It could help draw paying subs.
Wednesday
- March inflation report released
Authors of this Snacks own shares: of Amazon, Microsoft, Google, Newmont and Walmart
ID: 2840316