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Social media should get warning labels for teens, per Surgeon General

Teens spend almost 5 hours a day on social media

Tom Jones, David Crowther

Doctor’s orders

Just over a year ago, US Surgeon General Dr. Vivek Murthy recommended that legislators, parents, and tech companies take steps to make social media safer for children in light of the youth mental health crisis. Now, he’s ringing the alarm bell even louder with a new piece in the New York Times today where he suggests implementing a surgeon general’s warning label on social media platforms.

The label, akin to those that adorn the packaging of cigarettes and other tobacco products in the US, could show up on apps like Twitter, Instagram, and TikTok, warning parents and adolescent users of the potential damage that such platforms can wreak on young peoples’ mental health. And, in case you needed any reminding, young people are spending a lot of time on those apps — the most recent poll from Gallup found that US teens are, on average, spending almost 5 hours a day on social media, with teen girls racking up some 5.3 hours of scrolling, swiping, and tapping per day.

Teens social media usage

Dr. Murthy was keen to note that this proposition alone wouldn’t be enough to make socials a safer place for young Americans, pointing to his recommendations from last May, such as developing age-appropriate health and safety standards; increasing funding on research into the dangers of social media; and tracking the amount of time young people are spending online, as potential companions for the proposed label.

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Tesla CEO Elon Musk wins appeal for his 2018 pay package

Tesla CEO Elon Musk has won an appeal to the Delaware Supreme Court, restoring his 2018 pay package that was worth $56 billion at the time but has since ballooned in value, Reuters reports.

Two years ago, a lower court had struck down the compensation deal, calling it “unfathomable,” and Musk has been fighting for it since then.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

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Jon Keegan

OpenAI’s reported fundraising valuation keeps jumping by hundreds of billions of dollars

OpenAI is reportedly in talks to raise as much as $100 billion, with a valuation of....$500 billion...$750 billion $830 billion?

This is getting ridiculous. This week we have read multiple reports that OpenAI is in early discussions with potential investors about a significant fundraising round of up to $100 billion, to help cover its cloud computing costs.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

tech
Jon Keegan

Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

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