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OpenAI should continue to be controlled by a nonprofit because the artificial intelligence technology it is developing is too consequential to be governed by a corporation alone. That is the message from an advisory board convened by OpenAI to give it recommendations about its nonprofit structuredelivered in a report released Thursday, along with a sweeping vision for democratizing AI and reforming philanthropy. We think its too important to entrust to any one sector, the private sector or even the government sector, said Daniel Zingale, the convener of OpenAIs nonprofit commission and a former adviser to three California governors. The nonprofit model allows for what we call a common sector, that facilitates democratic participation. The recommendations are not binding on OpenAI, but the advisory commission, which includes the labor organizer Dolores Huerta, offers a framework that may be used to judge OpenAI in the future, whether or not they adopt it. In the commission’s view, communities that are already feeling the impacts of AI technologies should have input on how they are developed, including how data about them is used. But there are currently few avenues for people to influence tech companies who control much of the development of AI. OpenAI, the maker of ChatGPT, started in 2015 as a nonprofit research laboratory and has since incorporated a for-profit company with a valuation that has grown to $300 billion. The company has tried to change its structure since the nonprofit board ousted its CEO Sam Altman in Nov. 2023. He was reinstated days later and continues to lead OpenAI. It has run into hurdles escaping its nonprofit roots, including scrutiny from the attorney generals in California and Delaware, who have oversight of nonprofits, and a lawsuit by Elon Musk, an early donor to and founder of OpenAI. Most recently, OpenAI has said it will turn its for-profit company into a public benefit corporation, which must balance the interests of shareholders and its mission. Its nonprofit will hold shares in that new corporation, but OpenAI has not said how much. Zingale said Huerta told the commission their challenge was to help make sure AI is a blessing and not a curse. To grapple with those stakes, they envision a nonprofit with an expansive mandate to help everyone participate in the development and trajectory of AI. The measure of this nonprofit will be in what it builds, who it includes, and how faithfully it endures to mission and impact,” they wrote. The commission toured California communities and solicited feedback online. They heard that many were inspired by OpenAIs mission to create artificial intelligence to benefit humanity and ensure those benefits are felt widely and evenly. But, Zingale said many people feel they are in the dark about how its happening. They know this is profoundly important whats happening in this Age of Intelligence, but they want to understand better what it is, how its developed, where are the important choices being made and whos making them? he said. Zingale said the commission chose early on not to interact with Altman in any way in order to maintain their independence, though they quote him in their report. However, they did speak with the companys senior engineers, who they said, entered our space with humility, seriousness, and a genuine desire to understand how their work might translate into democratic legitimacy. The commission proposed OpenAI immediately provide significant resources to the nonprofit for use in the public interest. For context, the nonprofit reported $23 million in assets in 2023, the most recent year that its tax filing is available. The commission recommend focusing on closing gaps in economic opportunity, investing in AI literacy and creating an organization that is accessible to and governed by everyday people. For OpenAIs nonprofit to fulfill its mandate, it should commit to more than just doing good – it should commit to being known, seen, and shaped by the people it claims to serve, they wrote. The commission suggested opening a rapid response fund to help reduce economic strains now. Zingale said they specifically recommended funding theater, art and health. We’re trying to make the point that they need to dedicate some of their resources to human to human activities, he said. The commission also recommended setting up a requirement that a human lead the nonprofit, which Zingale said is a serious recommendation and a sign of the times.” Thalia Beaty, Associated Press Associated Press coverage of philanthropy and nonprofits receives support through the APs collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of APs philanthropy coverage, visit https://apnews.com/hub/philanthropy.
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E-Commerce
Wall Street is drifting on Friday toward the finish of its third winning week in the last four, as more big U.S. companies deliver stronger profits for the spring than analysts expected. The S&P 500 was 0.1% higher in morning trading after setting its all-time high the day before. The Dow Jones Industrial Average was down 107 points, or 0.2%, as of 10:05 a.m. Eastern time, and the Nasdaq composite was up 0.2% after coming off its own record. Norfolk Southern chugged 3% higher after an AP source said its talking with Union Pacific about a merger to create the largest railroad in North America, one that would connect the East and West coasts. Any such deal, though, would likely face tough scrutiny from U.S. regulators. Union Pacifics stock fell 1%. Netflix, meanwhile, dropped 5.7% despite reporting a stronger profit for the latest quarter than Wall Street expected. Analysts said its not a surprise the stock was sluggish after it had already soared 43% for the year so far, coming into the day. Thats six times more than the gain for the S&P 500. It was the single heaviest weight on the S&P 500. Stronger-than-expected profit reports for the spring helped several other stocks rally. Charles Schwab climbed 3.1%, Regions Financial rose 4.5% and Comerica added 1.7%. Chevron climbed 0.5% after saying it had completed its acquisition of Hess. The buyout got its go-ahead following a favorable arbitration ruling for Chevron about some of Hess assets off Guyanas coast. In the bond market, Treasury yields eased after a report suggested U.S. consumers may be feeling less fearful about coming inflation. They’re bracing for inflation of 4.4% in the year ahead, down from last month’s projection of 5%, according to preliminary results from the University of Michigan’s survey. That’s important because expectations for high inflation can feed into behaviors that create a vicious cycle keeping inflation high. Overall sentiment, meanwhile, was a hair better than economists expected but still well below its historical average. Consumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future, according to Joanne Hsu, the survey’s director. The yield on the 10-year Treasury sank to 4.43% from 4.47% late Thursday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do with its short-term rates, also dropped. It fell to 3.87% from 3.91%. A top Fed official, Gov. Chris Waller, said late Thursday that the Fed should cut its overnight interest rate as soon as its next meeting in a couple weeks. That follows sharp criticism from President Donald Trump, who has been castigating the Fed for holding interest rates steady this year instead of cutting them, as it did late last year. Lower rates could give the economy a boost, and Trump has also implied they could help the U.S. government save money on its debt payments, though thats uncertain. The interest rates Washington has to pay on its longer-term debt can depend more on what bond investors think than on what the Fed does, and they can even move in opposite directions. The chair of the Fed, meanwhile, has been insisting that he wants to see more data about how Trumps tariffs will affect the economy and inflation before the Fed makes its next move. The downside of lower interest rates is that they can give inflation more fuel, and prices may already be starting to feel the upward effects of tariffs. Traders on Wall Street still think its much more likely that the Fed will resume cutting interest rates in September, rather than later this month, according to data from CME Group. In stock markets abroad, indexes were mixed across Europe and Asia. Hong Kongs Hang Seng jumped 1.4%, but Tokyos Nikkei 225 slipped 0.2% ahead of an election for the upper house of parliament on Sunday that could wipe out the ruling coalitions upper house majority. Stan Choe, Associated Press AP Writers Teresa Cerojano and Matt Ott contributed.
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E-Commerce
The business model for movie theaters has been under threat since at least the 1980s with the widespread adoption of the VHS. DVDs, streaming, and the COVID-19 pandemic have only compounded the issue. According to Octane Seating, 63% of Americans watch movies at home, which isnt happy news for big chains such as AMC, Cinemark, and Regal. This is in addition to video games, smartphones, prestige TV, and every other form of media that competes for your attention in the 21st century. Popular movie chains have been forced to get creative to stay afloat. Tactics such as luxury reclining chairs and top-shelf alcohol havent been enough. A new controversial way to bring in needed revenue is to add additional non-trailer advertisements in the preshow, increasing the length from 1520 minutes to 30. So if you want to see a summer blockbuster flick, plan accordingly. Lets take a look at the timeline for this change and if it has impacted audience behavior. Cinemark and Regal lead the way In 2019, Cinemark and Regal reached an agreement with National CineMedia to add additional commercials in the preshow slot. One of these was dubbed a platinum spot and would play right before the attached trailers. The movie chains reportedly received 25% of the revenue collected from these prominently displayed ads. National CineMedia CEO Tom Lesinski promised that this would not deter audiences, as a similar practice was already standard in Europe. We dont believe it will be a significant issue for exhibitors or consumers, he explained in an interview with Deadline at the time. AMC jumps on the longer preshow bandwagon AMC initially rejected the idea, but six years later is changing its tune. On July 1, AMC joined Cinemark and Regal. The chain also made sure its patrons were aware of the change by emphasizing it in a disclaimer for ticket buyers. When news of AMCs change of policy broke, the movie chain issued a statement explaining the decision. AMC claims this change will not keep audiences away from theaters but doesnt explicitly say anything about watching trailers. While AMC was initially reluctant to bring this to our theatres, our competitors have fully participated for more than five years without any direct impact to their attendance, the statement explained. This is a strong indication that this NCM preshow initiative does not negatively influence moviegoing habits. How has this impacted the audience? While theater chains may claim the practice hasn’t impacted attendance, the timing of the COVID-19 pandemic and entertainment industry strikes make it difficult to isolate the exact reason for any changes in audience behavior. Thanks in part to the “Barbenheimer” phenomenon of two summers ago, 2023 was the best summer box office since all of this drama came about, bringing in $13.6 billion globally. Last year, meanwhile, saw a 10.3% decline domestically over 2023, according to Comscore. In June of this year, as reported by Deadline, Gower Street Analytics predicted the summer season would make around $12.4 billion in global box office revenue. Moviegoers appear to be holding steady. However, even though audiences are still showing up, they are starting to skip the trailers. According to Steve Bucks firm EntTelligence, only 60% of audiences were present for them this year. The numbers get lower in the movie-centric cities of Los Angeles and New York. Only 42% of Angelino cinephiles were present for every trailer, down from 55% last year. Only 42% of New Yorkers saw each trailer, down 5% from the previous year. These statistics to reveal a potential catch-22. While theater chains have to stay open to new sources of revenue, they may risk repeat business as fewer audience members are exposed to their full slate of coming attractions. What if a trailer plays in a movie theater and no one sees it? What good does it do? Tom Rothman, Sony Motion Pictures Group chairman and CEO, mused to Deadline. Its incredibly self-defeating and shortsighted. Since the beginning of the movie business, the single best inducement to see movies is trailers in movie theaters. And now, nobody sees them. Only questions remain. Will the skipping the trailers trend continue and even grow? Will this lead to opting out of going to the movie theater altogether? Time will tell. For now, be armed with the knowledge that you have extra time to get your popcorn without missing the movie should you so choose.
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E-Commerce
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