good morning. Elon Musk and Donald Trump were not fighting the president's “big beautiful bill.” In X, Musk, if the “unusual spending bill” passes, he will New political party (Can you guess what it's called?).
In response, Trump suggested that Doge investigate Reduce government contracts with mask companies. “Without subsidies, Elon would probably need to close his shop and return to South Africa,” Trump wrote of the Truth Society. This is the latest.
In today's big story, beware of fake job seekers, fake recruiters, fake sales. There are American small business owners I was overwhelmed by the con artist.
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What's on the deck?
market: Why Morgan Stanley is predicting potential stock market highs Later of the year.
Technology: Mira Murati's Secret AI Startup offers salaries of over $450,000 to lock in Top talent.
work: Apple's “F1” movie got no. One spot at the box office revenue – But it may be just one time.
But first, something seems suspicious…
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Big story
Deep Fake Economy
Getty Images; Ava Horton/bi
If you fall into it, the outcome can be devastating. Last year, the treasurer at engineering firm Arup took part in a video call with people he believed he was a colleague. Each participant was found to be a deep faux-creation creation of a real colleague, including the company's finance chief. Convinced of the plot, the clerk approved it. $25 million for overseas transfer.
Such scams are becoming more common. Since ChatGpt exploded into the scene, online businesses have had to navigate the rapidly expanding deep fake economy. According to the platform Chainabuse, in the past year alone, genai-enabled scams have quadrupled.
Bye spoke with experts from several industries, including recruitment, graphic design, publishing, and healthcare. Scramble to keep yourself and your customers safe Against the ever-evolving threat of AI.
Many feel like they are playing the endless game of horse carriages, Shubham Agarwal writes for BI. Moles are now multiplying and becoming smarter.
Giulio Bonacera for bi
You'll never be fooled, right?
Don't be sure. The vice president of strategy for a cybersecurity company said that Genai tools are now able to write the perfect scam message within minutes with beginners with cheap programs and almost technical know-how.
Agarwal Put this in your test It uses a tool called Llama Press. Sure enough, they created an almost perfect clone of their online store and personalized it with just a few lines of instruction.
Bi's Amanda Hoover was also available Deepfake her own bank Relatively easy. All I got was an AI voice generator and a phone call.
Platforms such as Teams and Zoom have improved detection of deepfakes; problem. The CEO of a cybersecurity company can make the data that these platforms collect fake can ultimately be used to train more sophisticated Genai models.
Three things about the market
Getty Images; Alyssa Powell/bi
1. AI is speeding up slow investment games. Basic investors are known for taking a slow, orderly approach to investing, but AI is trying to change all of that. Three companies using technology share how it looks Transform your investment process.
2. Market veterinarians predict that by the end of the decade the S&P 500 has beaten the 10,000. Longtime forecaster and president of Yaldeni Research, Ed Yaldeni, said the stock is currently in “melt-up” mode and the S&P 500 can. Surge 60% by 2030.
3. A secret weapon in the stock market. The number of analysts undertaken revenue revisions or estimates have improved significantly over the last few months. Morgan Stanley sees it Promotes further market improvements.
Three things about technology
Microsoft CEO Satya Nadella (left) and Openai CEO Sam Altman (right) Picture Alliance/Getty, Yuichi Yamazaki/Getty
1. The most powerful relationship of technology lies in the rocks. Microsoft is Openai's biggest investor, but tensions over the terms of the partnership It's boiling. Money and fairness are a major fixture, and they are also strengthened by AGI and Openai's acquisition of co-pilot competitors.
2. Mira Murati startup is paying the best dollars to win the AI Arms race. Murati's Thinking Machines Lab pays two members of the technical team a $450,000 salary, with the other earning $500,000. According to federal data obtained by BI. This is far more than the average salary offered to technical talent by top open and human competitors.
3. Here's what $14 billion in employment is doing in Meta: Alexandr Wang, 28-year-old AI founder Mark Zuckerberg, was hired last month, but will collect former Github CEO Nat Friedman and Meta's new Superintelligence Lab. Please read the notes We will announce their roles.
Three things about business
Lululemon accused Costco of copying the design. Chen Sing/Getty Images
1. Lululemon is suing Costco. The Athleisure brand accuses Costco of creating “confusing and similar” dupes That yoga jacket and chino. Lululemon seeks damages in the form of loss of profits and compensation for patent infringement, but it is not the first time a brand has denounced a company that infringes copyright.
2. Apple's “F1” has a special sauce of epic proportions. The racing films received a huge boost from IMAX. This said Monday that it accounted for 19% of the film's global box office revenue. IMAX tickets cost more and support Apple I will hit box office exploration expectations – But that boost may not apply to other films.
3. Trump's “big beautiful bill” changed GOP Senators. Senate Republicans change controversial provisions and discourage the state from regulating AI Five years Instead of the 10 originally written, the bill is passing through Congress. Elon Musk is disappointed.If that's the last thing I do. ”
In other news
What's going on today?
- A settlement between the NCAA and university athletes will be enacted, allowing the university to directly compensate athletes for use of their name, image, and portrait (nil).
- Jerome Powell will speak at the ECB Forum on Central Banks in Sintra, Portugal.
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The results of the New York City Mayor Democratic primary were expected.
Hallam Brock, senior editor in London. Meghan Morris, director of Singapore. Grace Lett, Chicago editor. Amanda Yen, Associate Editor in New York; Lisa Ryan, executive editor in New York. Akin Oyedele, Associate Editor in New York. Associate Editor Ella Hopkins of London. Dan DeFrancisco, assistant editor and anchor in New York (on parental leave).
