Caracal Daily | June 5
Narendra Modi, MDMA, Dr Pepper, Taylor Swift, Man City, plus 1,000 more actionable insights.
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Happy Wednesday.
Here’s today’s Caracal Daily:
*** Globalization + Geopolitics ***
India votes: Modi’s party looks set to win less than 272 seats (the minimum needed to form a government on its own) and much below the 303 it won in 2019.
Bloomberg: Modi vows to stay in power even as party loses India majority
+ Race starts to form government as opposition delivers surprise
+ Markets plummet as results raise questions about Modi’s future
Modi loses majority in stunning election setback, but is set to keep power in India: WSJ reports the leader’s Hindu nationalist party failed to secure an outright majority on its own.
Narendra Modi set to lose parliamentary majority in shock Indian election result: FT reports the stock market tumbles as vote counts point to ruling BJP relying on allies to secure historic third term in power.
A shock election result in India humbles Narendra Modi: Economist reports instead of strongman rule an uncertain era of coalition government beckons.
India’s election wasn’t the deepfake doomsday many feared: So far, AI-generated content has been more about trolling than information warfare. ROW
Indian voters bring pollsters to tears: Remember all the predictions that Narendra Modi’s party was on track for a landslide? Oops! Jessica Karl
As China’s internet disappears, ‘we lose parts of our collective memory’: The number of Chinese websites is shrinking and posts are being removed and censored, stoking fears about what happens when history is erased. NYT
The goal for China’s chip giant: Cut out the US: Hit by Washington’s export controls, China’s domestic chip industry strives for self-sufficiency. WSJ
How Tiananmen Square remade the modern world: Today, Xi looks on approvingly as Putin tries to salvage what pieces he can from an old wreck. The Spectator
US, Philippines expand exercise to territorial edges amid tension with China: Defense News reports a Philippine fishing vessel was traversing Scarborough Shoal in the South China Sea when two Chinese Coast Guard ships fired water cannons at both sides of the boat.
US finds new 'brand' for Quad, starting with Papua New Guinea relief: Nikkei reports the White House kicks off preparations for foreign ministers in Japan and summit in India.
ASEAN is laying the foundation to effectively govern AI use: New guide should help member states to develop domestic regulations. Eunice Lim
Farage’s return is Rishi Sunak’s worst nightmare James Johnson
Nigel Farage’s return and how Britain follows America: In the new media and internet age, power stems not from politics or the law. The Spectator
Nigel Farage is the continuity chaos candidate: Reform leader is standing against ‘boring’ politics but Britain needs stability, not the further disarray he would bring. Daniel Finkelstein
WSJ: Intel and Apollo in $11 billion joint venture for chip manufacturing plant in Ireland
Meloni and Le Pen: The relationship at the heart of European politics: How Italy’s prime minister and France’s opposition leader work together — or not — will help determine the EU’s future direction. FT
How TotalEnergies and France's foreign ministry work hand in hand: Every year, the French oil company recruits veteran diplomats for its lobbying department. It's a practice that sheds light on the French foreign ministry's contradictions, particularly on the issue of climate change. Le Monde
Zelensky to meet with Macron in Paris on Friday: Le Monde reports the Ukrainian president, who has recently been on a tour of allied countries, is also due to address France's Assemblée Nationale after the country's D-Day commemorations on Thursday, June 6.
The number of NATO members meeting the military alliance’s defense spending benchmark could reach 23 nations this year — an all-time high prompted by the war in Ukraine.
NATO to unveil Ukraine security package as ‘bridge’ to membership: Defense News reports NATO plans to offer Ukraine a security package when the alliance convenes its annual summit this summer in Washington, though it’s expected to stop short of accepting the nation’s long-standing request for membership amid Russia’s invasion.
Moscow ready to strike French military trainers in Ukraine: Politico reports: “No instructor involved in training the Ukrainian military has immunity,” the Kremlin says.
West grapples with response to Russian sabotage attempts: Moscow has mastered hybrid warfare, covering its tracks when planning arson and other ‘grey zone’ attacks in Europe. FT
Russia is seeking to take over uranium assets in Niger held by a state-controlled French company, sources say, the latest challenge to Western interests in Africa.
Russia trade isolation grows as Chinese banks cut payments: Nikkei reports as US sanctions target Ukraine war aid, Moscow's China imports shrink by 10%.
China is beginning to see Russia as a bad bet: Putin has become a needy ally ahead of challenges that will come with a new US presidency. Roger Boyes
Bloomberg: Jacob Zuma the disruptor has South Africa’s fate in his hands after vote
+ Governing ANC hemorrhaged support to Zuma’s party in election
+ Zuma is major factor in first coalition talks in 30 years
UAE seeks ‘marriage’ with US over artificial intelligence deals: Gulf state’s AI minister says recent investment deal between Microsoft and G42 is part of strategy to reshape its economy. FT
Five challenges facing Mexico’s Claudia Sheinbaum: Big budget deficit and record number of murders top the president-elect’s worries. FT
‘We are the world power.’ How Joe Biden leads Time
The Pentagon is learning how to change at the speed of war: The dynamic Ukraine battlespace has provided a needed jolt to a system that has long been too slow to change. David Ignatius
Nationalism threatens the world order: If America retreats from its security guarantee of Europe, the consequences for global stability will be dire. Martin Wolf
*** US Politics + Elections ***
Biden announces new asylum cap in bid to deter illegal crossings: WP reports President Biden’s executive actions, effective at the end of the day Tuesday, impose broad restrictions on asylum as long as illegal border crossings remain above an average of 2,500 per day, administration officials said.
‘Horrible mistake’: GOP senators urge RNC to back off Hogan: Politico reports Hogan, a popular two-term governor, is probably the only Republican who can truly put Maryland's Senate race in play.
AI’s power needs means new nuclear power tech can’t fail, US energy official says Bloomberg
AI on the campaign trail: The Federal Election Commission (FEC) wants to assert its control over AI in elections. The FEC sees a conflict ahead with the Federal Communications Commission, which intends to issue its own regulations.
+ The FCC wants to mandate AI disclosures for on-air broadcasts, including AI-generated content in political ads for both issues and candidate advertising.
+ The FEC is currently in its own rulemaking process to determine whether new regulations on AI in political communications should be issued.
FDA panel recommends against approval of MDMA to treat PTSD: WP reports the committee members said there is not enough evidence that use of the drug, also known as ecstasy, can be used safely and effectively.
*** Disruption + Innovation ***
Boom or doom: Inside the Silicon Valley influence battle for AI’s future: Billionaire investors of the internet era are now locked in a war of words and influence to determine whether AI’s future will be one of concentrated safety, or of unfettered advancement. The stakes couldn’t be higher. Alex Konrad @ Forbes
How news coverage, often uncritical, helps build up the AI hype: “Research suggests that reporting tends to be led by industry sources, and often takes claims at face value,” our Director Rasmus Nielsen writes. Reuters Institute for the Study of Journalism
What I learned from the UN’s “AI for Good” summit: OpenAI’s CEO Sam Altman was the star speaker of the summit. Melissa Heikkilä
ChatGPT users: Almost 50% are from the US.
The Norwegian Broadcasting Corporation (NRK) recently began adding AI-generated summaries to many articles published on its website as a way to appeal to younger audiences.
Roman Yampolskiy, an AI safety researcher, believes that the chance of AGI eventually destroying human civilization is 99.9999%. He spoke with Lex Fridman.
OpenAI insiders warn of a ‘reckless’ race for dominance: A group of current and former employees are calling for sweeping changes to the artificial intelligence industry, including greater transparency and protections for whistle-blowers. NYT
OpenAI employees want protections to speak out on ‘serious risks’ of AI: Current and former staffers of OpenAI and Google DeepMind say “broad confidentiality agreements block us from voicing our concerns.” Bloomberg
AI employees fear they aren’t free to voice their concerns: A group of current and former OpenAI and DeepMind employees want more whistleblower protections and fear retaliation. WSJ
AI employees warn of technology’s dangers, call for sweeping company changes: A letter signed by current and former OpenAI, Anthropic and Google DeepMind employees asked firms to provide greater transparency and whistleblower protections. WP
OpenAI insiders’ latest open letter is a warning against AI. Will anyone listen? Yet another open letter was released warning about the risks of artificial intelligence. But are we seeing diminishing returns with these calls to action? FC
The CEO of Zoom wants AI clones in meetings: The Verge reports Zoom founder Eric Yuan has big ambitions in enterprise software, including letting your AI-powered ‘digital twins’ attend meetings for you.
Touchcast, a startup that caches frequently asked generative artificial intelligence queries to make AI systems more efficient, is raising $100 million from venture backers, including OpenAI investor Microsoft.
Cohere has raised $450 million in funding from returning investors such as Nvidia and Salesforce Ventures, as well as new investors including Cisco and Canadian pension fund PSP Investments, according to a source familiar the matter.
Bloomberg: Shutterstock’s AI-licensing business generated $104 million last year
FC: Musk reportedly orders Nvidia to ship AI chips slated for Tesla to X and xAI
No physics? No problem. AI weather forecasting is already making huge strides. New model that predicts global weather can run on a single desktop computer. Ars Tech
AFP: AI could help with bereavement, but technology is fraught with risks, researcher says
AI apocalypse? ChatGPT, Claude, and Perplexity all went down at the same time TC
Ford rescues a Detroit train station as it plots its own future: The automaker paid $90 million for the ravaged Michigan Central Station in 2018, and will spend millions more to create a hub of businesses focused on transportation. NYT
Bill Ford reveals why giving up on Michigan Central Station was never an option. Phoebe Wall Howard
Why Ford spent $1 billion to transform an abandoned Detroit train station: Bill Ford Jr. has spearheaded an ambitious, expansive, and possibly crazy effort to remake Michigan Central Station into a tech hub. FC
Dr Pepper is now as popular as Pepsi. It’s still shrouded in mystery. Does it contain prune juice? Was there an actual doctor? And more questions about the quirky soda. WP
The ballad of Birkenstock: How the 250-year-old German orthopedic shoe company with Succession-level family drama transformed itself into a luxury behemoth. Bloomberg
*** Culture ***
Why are some Taylor Swift fans reporting post-concert amnesia? Known as 'transient global amnesia,' this not-so-rare phenomenon has been described in connection with emotionally-charged events. Le Monde
*** Sport ***
A new wave of stadium-building is busting budgets in America: The economics of ballparks are lousy, but politicians can’t resist subsidising them. Economist
Bloomberg: Tepper asks Charlotte for $650 million to fix NFL stadium
+ Bank of America Stadium would be upgraded under new plan
+ Billionaire owns Carolina Panthers and Charlotte Football Club
14,155 NFL players have been drafted since 1970. 99.965% played college football.
Man City launch unprecedented legal action against Premier League: Claim has plunged top flight into civil war and hearing on Monday could change competition for ever as club say they are victims of discrimination and ‘tyranny of majority.’ The Times
Kylian Mbappe’s Real Madrid transfer: The full inside story The Athletic
MLB issues its first lifetime ban for betting on baseball since Pete Rose: WP reports MLB announced that Tucupita Marcano, a 24-year-old from Venezuela, had been “declared permanently ineligible.”
Sergio Perez has signed a new two-year deal with Red Bull that will keep him at the Formula One team until the end of 2026.
Enjoy the ride + plan accordingly.
-Marc
Marc A. Ross | Chief Communications Strategist @ Caracal
Caracal Daily | June 5
