Kirkland & Ellis Debt Architect Sees Creditor Pacts as ‘Anticompetitive'
'People who enter into cooperation agreements should be careful,' Nemecek said as part of a panel discussion at the Bloomberg Global Credit Forum in Los Angeles Wednesday, referring to the pacts that bind participants to negotiate as one unit in discussions with companies. 'There are serious legal considerations that they should be aware of, including the potential for antitrust claims.'
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Trump announces US-Japan trade deal
President Donald Trump announced a long-awaited trade agreement with Japan on Tuesday night, a framework between the allies and major trading partners that appeared elusive just weeks ago. CNN's Kristie Lu Stout breaks down what's in the deal.
Digital Trends
28 minutes ago
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OpenAI CEO reveals what it is about AI that keeps him awake at night
The man leading one of the most prominent and most powerful AI companies on the planet has just revealed what it is about AI that keeps him awake at night. And after reading this, it might keep you awake, too. OpenAI CEO Sam Altman was sharing his thoughts during an on-stage appearance at a Federal Reserve event in Washington, DC., on Tuesday. Recommended Videos Asked by an audience member what it was about AI that keeps him awake at night, Altman listed three scenarios that concern him the most. Strap yourself in … Scenario 1 — 'The bad guy gets superintelligence first' This is exactly what it says on the tin. Sounding like something out of a sci-fi thriller, it's where some really rather unpleasant individual deploys an ultra-advanced and yet-to-be-invented AI system called superintelligence to really mess up your day. 'A bad guy gets superintelligence first and uses it before the rest of the world has a powerful enough version to defend itself,' Altman told the audience. 'So an adversary of the U.S. says, 'I'm going to use the superintelligence to design a bioweapon weapon to take down the United States power grid, to break into the financial system and take everyone's money.'' Altman added that the bio and cybersecurity capabilities of AI are getting 'quite significant,' saying that his team 'continues to flash the warning on this. I think the world is not taking us seriously. I don't know what else we can do there, but this is like a very big thing coming.' Scenario 2 — The 'loss of control' incidents Altman said he worries of a time 'when the AI is like, 'Oh I don't actually want you to turn me off, [or] I'm afraid I can't do that.'' In other words, when an advanced AI starts to get a bit of an attitude and begins doing whatever it likes, whether for self-preservation or for some other nefarious goal. The level of disruption that this could cause is unimaginable. 'As the systems become so powerful, that's a real concern,' OpenAI's CEO said. OpenAI even set up a unit a couple of years ago aimed at putting in safeguards to stop superintelligent AI system from going rogue. Scenario 3 — 'Where the models kind of accidentally take over the world' Yes, Altman actually said that, adding that he fears it could happen almost without us realizing. The Open AI boss said it was 'quite scary' to think that AI systems could become 'so ingrained in society … [that we] can't really understand what they're doing, but we do kind of have to rely on them. And even without a drop of malevolence from anyone, society can just veer in a sort of strange direction.' He even suggested that there might come a time where AI becomes so smart that a future U.S. president could let it run the country, saying: '[It would mean] that society has collectively transitioned a significant part of decision making to this very powerful system that's learning from us, improving with us, evolving with us, but in ways we don't totally understand.' Speaking about AI more broadly, Altman said that while a lot of experts claim to be able to predict the future impact of the technology, he believes it's 'very hard to predict' because it's 'too complex of a system, this is too new and impactful of a technology.' Of course, there's no guarantee that any of these scenarios will come to pass, and it's good that someone in Altman's position is speaking so honestly about the technology. But what is clear is that there are lot of unknown unknowns when it comes to AI, and it's that which is making some people more than a little nervous. Sleep well.
CBS News
29 minutes ago
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Local Stockton meat markets hit by high beef prices, lower demand
Beef prices are now up to more than $9 a pound, going up almost 9% since the start of the year. Numbers show steak and ground beef prices up about 12% and 10% over the last year. Local Stockton meat markets are feeling the pressure from these all-time high prices, forcing some local shops to try and break even. Acambaro Meat Market has been in the same place in Stockton for 20 years. Owned by Francisco Ortega, he said this year, however, has been the most difficult. "We're selling about half of what we used to sell in the past," Ortega said. "We need to up our prices because they upped the price for us." Demand for beef is always high at his store. "If they buy 50 to 60 pounds, we give them the same price we get from the supplier. We only get about 10%. It's not a lot, but we need to work," he said. Lately, supply has been harder to find. He supplies not only his customers, but also taco stands and trucks that roam all over Stockton. "The price of the tacos are now $4, quesadillas are $10. What are we going to do with burritos being $10," he said. "About $4 a taco, $4.50," said Cristina Salinas, who has also seen the rising taco prices. It's forced her, as a mother of two, to find cheaper alternatives. "I'm making tacos at home, and I'm making chicken tacos," she said. "It makes you appreciate it even more, when you get to eat tacos, and order at the taco trucks." "I think this one in particular is driven by demand and supply," said Dr. Sanjay Varshney. Professor Varshney from Sacramento State University said the record-high price isn't surprising. He said finding those alternatives like Salinas could bring demand down and therefore prices, but in the meantime, it could sear your next grocery list. "It just throws a bigger wrench into people's ability to simply survive and put food on the table," he said. Varshney said these beef prices are not impacted by tariffs. A lot of the beef we buy is grown in the U.S. One word of caution, he said, is that these prices won't go back to pre-pandemic levels. Those prices, he thinks, are here to stay.
