Morning Thrust | Weekly Highlights (101st Edition: 17.11.2024)

Welcome to the 101st edition of Morning Thrust ,?your?weekly dose?of?highlights?in future tech,?space economy,?sustainability,?smart cities,?supply chain,?logistics and more! In this edition (17.11.2024), we bring you the?most exciting?developments shaping?our world.?Stay informed and?ahead of the curve?with our curated insights.?Let's dive in!

Large Behavior Models (LBMs) are revolutionising AI by merging generative AI with behavioural learning, enabling robots to learn from both observation and interaction. This new approach allows robots to adapt to tasks through real-time behavioural feedback, enhancing their capability to perform complex actions. As LBMs evolve, they offer exciting possibilities for robotics but also raise concerns about safety and ethical implications.

Calls to abolish the Federal Reserve are growing, with prominent figures like Elon Musk and Senator Mike Lee supporting the idea. While President-elect Trump has not publicly backed dismantling the Fed, he has floated changes to its operations, particularly concerning interest rates. However, the Fed’s independence, backed by law, remains a key issue, with legal challenges to its autonomy unlikely to succeed.

Elon Musk has been appointed to co-lead the newly created Department of Government Efficiency (DOGE) under Donald Trump, a nod to the Doge meme and its cryptocurrency, Dogecoin. The move, which comes after Musk’s long-time support for Dogecoin , has raised eyebrows due to the meme’s political associations, echoing the controversial use of memes like Pepe the Frog in political movements. Critics warn Doge could follow a similar path of reappropriation, becoming intertwined with Trump’s second administration.

Elon Musk and Vivek Ramaswamy have launched a new initiative, the Department of Government Efficiency (DOGE), seeking highly intelligent, unpaid staff to work on cost-cutting measures for federal agencies. The commission aims to target government spending, with Musk emphasising the arduous nature of the work. Despite the lack of compensation, the project seeks “revolutionaries” willing to work long hours to implement reforms.

Elon Musk’s amended lawsuit against OpenAI now includes 微软 , LinkedIn ’s Reid Hoffman, and others as defendants. Musk alleges OpenAI has abandoned its nonprofit mission, accusing the company of monopolistic practices and unfairly benefiting from its partnership with Microsoft. The lawsuit claims that OpenAI, once dedicated to AI for humanity, has transformed into a for-profit entity tied to Microsoft, undermining its original goals.

Microsoft's $13 billion investment in OpenAI, which includes a 49% profit-share agreement, is expected to yield significant returns despite OpenAI's current financial losses. Microsoft has integrated OpenAI's AI models into its software and cloud services, boosting its revenue. Analysts predict that once the funding cap is reached, Microsoft's earnings will accelerate, making the investment one of its best strategic moves.ng cap is reached, Microsoft's earnings will accelerate, making the investment one of its best strategic moves.

Atlas.co, a browser-based mapping tool, aims to make GIS data accessible and user-friendly, similar to Figma ’s approach to design. The Oslo-based startup, founded by university students, offers a freemium service that supports industries like renewable energy and urban planning. With a recent $2 million pre-seed round, Atlas plans to expand its features and empower more industries to use geospatial data, especially in response to climate change.

Ireland has become a leading European tech hub, attracting global giants like 谷歌 , eBay, and Amazon, thanks to its low corporate tax rates, a skilled workforce, and a vibrant startup culture. The country’s focus on innovation, education, and high wages continues to fuel its tech sector's growth, making it a prime destination for international talent. With significant government investment in R&D and a strong entrepreneurial ecosystem, Ireland's tech industry is set for continued success.

微软 , facing a 40% rise in emissions due to its AI business, partners with the Royal Bank of Canada RBC to invest in carbon removal through a direct air capture (DAC) "bake-off." This project, involving eight startups, will test the most efficient carbon removal methods, with credits expected to start flowing by June. The initiative aims to speed up carbon capture and help Microsoft meet its 2030 carbon-negative goal.

亚马逊 's cloud computing unit, AWS, is offering free computing power to AI researchers with its custom Trainium chips, challenging Nvidia's dominance in the field. The initiative includes $110 million in credits for researchers from institutions like Carnegie Mellon and UC Berkeley. AWS aims to attract large customers by offering direct chip programming and potential cost-saving opportunities.

Chinese-backed hackers have breached multiple U.S. telecom providers, including AT&T , Lumen Technologies , and Verizon , to steal wiretap data and private communications, primarily targeting individuals involved in government or political activities. The cyber espionage campaign, named "Salt Typhoon," allowed hackers to access networks for months, compromising sensitive information. The FBI and CISA are assisting in strengthening cybersecurity across the telecom sector.

The US has ordered TSMC to stop shipping advanced chips used in AI applications to China, following concerns over export control violations involving Huawei. The restriction affects chips with designs of 7 nanometers or more, used in AI accelerators and GPUs. TSMC has complied, halting shipments to Chinese clients starting Monday.

Meta has been fined €797.72 million by the European Commission for anticompetitive practices related to Facebook Marketplace, which unfairly tied the service to Facebook, disadvantaging competitors. The company plans to appeal, arguing that the decision ignores the competitive dynamics of the European market. This fine adds to a growing list of regulatory penalties Meta has faced in Europe.

Bluesky Social has reported over 1 million sign-ups in the last 24 hours, pushing its total user count to 16 million. This surge in users, growing from 9 million to over 14.6 million, as unhappy X (formerly Twitter) users migrate following the U.S. election results. The app briefly became the No. 2 iPhone app in the U.S., as people flee X's political shifts. Bluesky’s decentralized platform offers higher engagement, with users appreciating its focus on quality over quantity, contrasting with X’s increasingly partisan environment.

Just Eat Takeaway.com has sold its U.S. business, Grubhub, to Wonder Group for $650 million, a significant loss from the $7.3 billion it paid in 2020. The deal, which includes $500 million of Grubhub’s debt, is set to close in Q1 2025. Wonder plans to integrate Grubhub’s restaurant partners into its app, aiming to create a "super app" for food delivery.

Delivery Hero's Middle Eastern business, talabat, will go public on the Dubai Stock Exchange in mid-December, offering 15% of its shares in one of the UAE's largest IPOs this year. The company, which operates in several Middle Eastern countries, plans to pay a minimum dividend of $100 million in 2025. Delivery Hero will retain a majority stake after the listing.

AI's growing energy demand could lead to power shortages for data centres by 2027, with new servers expected to consume 500 terawatt-hours, equivalent to 46 million households. This increase, on top of the 349 terawatt-hours used by existing centres, highlights the need for carbon-free energy sources. Sam Altman’s $375 million fusion power investment is gaining relevance in light of this.

Generative AI startup Writer has raised $200M in a Series C round, bringing its valuation to $1.9B. Co-led by Premji Invest and Radical Ventures, the funding will support product development and solidify its position in enterprise AI. With major clients like Salesforce and Accenture, Writer aims to deliver next-gen AI solutions to streamline business workflows.

Amazon has launched the Amazon Haul store to compete with low-cost retailers like Temu and SHEIN, offering discounted mass-produced items, mostly from China. Unlike Amazon's typical fast delivery, these products can take one to two weeks to arrive. The move comes as competitors face scrutiny over environmental impact and consumer protection issues, but Amazon's established trust with consumers may give it an edge.

Encore, an AI-powered search engine, simplifies secondhand shopping by aggregating listings from platforms like eBay and Poshmark. Founded by former 苹果 and Twitter engineers, the startup aims to make finding specific items easier, addressing the fragmented secondhand market. Currently part of Y Combinator ’s batch, Encore is growing rapidly with over 50,000 searches per month and plans to introduce a subscription model.

In-space manufacturing is emerging as the next frontier for foreign direct investment (FDI), with the potential to become a $1-2bn market by 2035. Advancements in space technologies and falling rocket costs are making it a viable commercial method, particularly in industries like semiconductors, pharmaceuticals, and biotech. Countries with strong space programmes, like the US, UK, and Japan, are well-positioned to lead this new space-based value chain.

ABL Space Systems has pivoted from the commercial launch market to missile defense, shifting focus after difficulties with their RS1 rocket and a saturated launch market. Despite raising $461 million, the company sees greater potential in applying its technology to enhance U.S. missile defense capabilities, a sector receiving significant government investment. The move comes amid challenges in scaling up their launch program and evolving market conditions.

Axiom Space is exploring partnerships with India and Europe for launch vehicles to support its commercial space station mission. The company, which won a NASA contract to build a module for the ISS, is also working on developing its own orbital station post-ISS. Meanwhile, India’s growing private space sector, with firms like Skyroot and Agnikul, is making strides in rocket development.

Former SpaceX engineers Halen Mattison and Luke Neise have launched General Galactic, a startup using Mars-inspired CO2-to-methane technology to replace natural gas. Their pilot system can produce 2,000 litres of methane per day, aiming to supply industries like chemicals and plastics, with plans to expand into transportation fuels. The company recently raised $8 million in seed funding and is set to deploy its first modules in 2025.

NASA - National Aeronautics and Space Administration's Nancy Grace Roman Space Telescope is set to launch in May 2027, equipped with the Roman Coronagraph to detect exoplanets by blocking starlight. This groundbreaking technology will help identify faint planets, advancing the search for Earth-like worlds and life beyond our solar system. The coronagraph’s success paves the way for future missions aimed at detecting habitable planets.

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