Adobe Falls and Bitcoin Slides from Record High | Bloomberg Technology

16 Mar 2024 (8 months ago)

Adobe's Stock Performance and Concerns

Adobe's stock experienced its worst day since 2002 due to concerns about its acquisition focus and delayed monetization of AI products.
Investors worry that competitors focused on generative AI could make Adobe's software obsolete in the long run.
Adobe's CEO emphasizes customer acquisition and believes safety and copyright credentials give an edge over competitors like OpenAI.

Bitcoin is pulling back from record highs amid concerns about excessive leverage in the crypto market.
Unprecedented inflows into Bitcoin ETFs increase demand while supply decreases.
Significant leverage exists in the system, including perpetual futures, margin trading, and debt issuance by major crypto players.
Market analyst Devon Ryan predicts substantial inflows into crypto ETFs, potentially driving up Bitcoin's price.

Coinbase analyst Devin Ryan discusses the recent opening up of additional capital for investing in crypto and Bitcoin specifically.
Ryan believes ETF approvals will lead to increased flows into the crypto market, transforming the industry.
He is bullish on the broader blockchain ecosystem and sees Coinbase benefiting from its growth.
Ryan also discusses the potential impact of other brokerages like Robinhood and Galaxy S8 on the crypto market.
He estimates $70 billion of net flows from retail investors, either self-directed or advisor-led.

Microsoft's personal security management tool, Copilot for Security, will be widely available on April 1st.
The tool, based on OpenAI models, helps defenders respond to increasingly sophisticated attacks.
Copilot for Security has received positive feedback during quiet rollout and testing with customers and partners.
Microsoft discloses recent compromises by Chinese hackers and Russian-affiliated groups, considering them inexcusable.
The company continues to investigate the Russian hack, committed to protecting customers and integrating knowledge for comprehensive protection.
Cybersecurity tools demand remains strong, with Copilot for Security seeing global demand and expansion into new languages.
Microsoft's security products have not faced pressure to pull back and continue to attract interest from customers worldwide.

Senator Blumenthal supports separating TikTok from ByteDance but warns of a too-short deadline in the bill.
Senator Ted Cruz suggests referring the bill to the Senate panel for more work, potentially slowing down the process.
Lawmakers receive numerous calls opposing the TikTok ban or divestment bill, citing concerns about its impact on users and potential negative consequences for Democrats in upcoming elections.
Potential buyers for TikTok in case of divestment are limited due to the company's high valuation, estimated between $20-30 billion.
The US government considers banning TikTok due to data privacy concerns and potential manipulation by the Chinese government.

Entrepreneur First, an organization investing in early-career technical founders, opens an office in San Francisco to connect European and Asian founders with the Bay Area tech ecosystem.
The organization aims to strengthen ties between tech ecosystems and provide founders with a wider network and deeper competition.
Founders express concerns about running a company in a new country and the high cost of living in the Bay Area.
Co-founder Alice Bentinck discusses the benefits of expanding ambitions to the U.S. market for European startups, given its size and potential for global growth.
Most startups invested in by Entrepreneur First use AI in some way, highlighting its importance as the technology of our generation.
Entrepreneur First focuses on geographic diversity and signs founders early, backing them from the idea stage and building their companies from within.
Diversity remains a challenge, with only 20% of founders being women. Entrepreneur First partners with Code First Girls to address gender diversity and increase the number of women founding companies.

Cerebras Systems co-founder and CEO Andrew Feldman announces their third Wafer Scale Engine chip, an AI supercomputer optimized for training big generative AI models.
The new chip, the largest ever made in the computing industry with 4 trillion transistors, cuts the cost per unit to compute in half, making generative AI models less expensive and more impactful.
The chip's architecture involves complex mathematical considerations and years of development.
Advancements in AI infrastructure enabled by Cerebras' technology have the potential to permeate the economy and impact various aspects of our lives.