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🗞️Diversity and inclusion news🗞️
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⚽️Football and Racism⚽️
Football has been lauded for bringing people together but it would be amiss to recognise that there is division and racism that impacts the sport as does society at large, We saw this great good news story from Germany which we wanted to share with you⚽️
Football fans in Germany chant ‘Nazis out’ as racist fan is identified and ejected
Read here
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👀What the DEI backlash means for us👀
We often get asked what does the DEI backlash mean for folks at Colorintech?👀
Well one of our partners and inspirational organisations the Hidden Genius Project out of Oakland, California said a lot we emphasize with here in this article📰
Give it a read
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🧠Things that make you go hmmm🧠
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😵Dangerous deepfakes😵
Take a look at these images, What do you think?🤔
Well it turns out a lot of folks are concerned that X's new AI Chatbot, Grok could let misinformation spread unfettered across the internet💻
Following the launch of Grok-2, users are able to generate AI images with simple text prompts. We assume by design along some sort of ideological persuasion, the usual safety guardrails other popular AI models have don't exist leading to people using grok to do almost pretty much what they want... and they did😮
Yep we saw the internet a flood with AI images of Donald Trump caressing a pregnant Vice President Kamala Harris, Elon Musk with Mickey Mouse holding up an AK-47 surrounded by pools of blood outside a school, and countless examples of sexually suggestive content.😱
Elon's reply is simply "Grok is the most fun AI in the world!" This thread shows you some of the other examples😨
So what?
Unfettered AI has its obvious risks. Some will say this is the ultimate tool for freedom of expression and others will point to misinformation, bias and discrimination. Given the potential infringements on copyright, we probably see Grok will probably be a b2c play as brand spot to use other tools (potentially bundled with their existing subscriptions)
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🫂Internet Freedom v Government🫂
That's the way X's lawyers would like the debate framed around how they have departed brazil🇧🇷
For those less familiar with the story, with the election of Brazil's new government we saw Brazilian judge Alexandre de Moraes issue "censorship orders" for a number of accounts, investigated by so-called "digital militias" that have been accused of spreading fake news and hate messages during the government of far-right former President Jair Bolsonaro🧑🏾⚖️
Well it turned out X didn't fully comply citing "operational faults" as a reason. Moraes which says a daily fine of 20,000 reais ($3,653) and an arrest decree would be imposed against X representative Rachel Nova Conceicao if the platform did not fully comply to Moraes' orders which led to Elon Musk calling Moraes an "utter disgrace to justice" and said the company could not have agreed to the judge's "secret censorship and private information handover demands."😮
As a result he shuttered the Brazilian office👋🏾
So what?
Well X is still available in Brazil but will be hoping with no staff there it can evade the requests of the government. There is a wider question for governments too about what to do. Should platforms be able to operate beyond the order of judges and to what extent is X accountable ?
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📲TikTok comes for Whatsapp📲
TikTok announced it has launched an upgrade to its messaging system📲
For up to 32 people the group chat feature for those aged 16 and above, will let users share TikToks with friends and family members without having to open a separate messaging app and take it to another app like Telegram whatsapp or imessage💬.
Why? Well engagement is key so keeping people locked into your app longer gives you more chance at monetizing them.
It's not yet clear whether like with your DM's these messages will be encrypted (in which case watch out for the inevitable meta marketing campaign) however we do expect this to make a meaningful difference with how people interact with the platform and given 1bn people use it every month a small change in percentages of behaviour could have big impacts for competitors📊
Perhaps this is the start of it too. We've seen Whatsapp bring better communities and group functionality to the fore so it wouldn't surprise us that if this is deemed successful Tik Tok will jump on that bandwagon too🤔
So what?
Messaging may just about to get more interesting again
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😢Startup failures😢
No one said running a business was easy and this week we saw news that the number of failures of startups are over 60%📈
Carta, a Data provider noted, start-up shutdowns are rising sharply, even as billions of dollars of venture capital goes into into AI🤖
Why? Well many people have noted if your company isn't an AI enabled one, raising capital as global interest rates have increased has become harder with VC's also feeling the squeeze with reports noting, Only 9% of venture funds raised in 2021 have returned any capital to their ultimate investors compared to 25% of funds had returned capital by the same stage in 2017.💰
You can read more here
One that isn't failing is Bendi one of the startups from and early edition of our #build accelerator who were overfunded and have closed their latest round at £815k with leading VCs Midven (part of future planet capital), APX (the corporate capital fund of Axel Springer & Porsche) and Chasing Rainbows, as well as an angel investment from Ada Ventures and a number of notable angel founders and exited founders forming the investors.🥳
Congrats to them!🎉
Image credit the FT
So what?
If you're getting displaces use the time to reskill
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📈 The tools behind the tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Partner Events & Opportunties 🌐
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💸We're hiring💸
Yes you read that right, We're looking for someone to join the team who is passionate about Venture, Startups and Education as our new Startup and VC lead
Take a look here if you're interested
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💸Meta are giving away money💸
Yes you read that right, Meta will basically pay you (in the form of a grant) to use their latest LLama Model.
You actually need to have a good impactful idea but if you do then apply here and let them know you heard about it from us (it will go in your favour 😉)
https://llama.meta.com/llama-impact-grants/
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💸And so are the UK gov💸
Ok so they sort of are. See the below
Overview of the AI Upskilling Fund:
Eligible businesses are invited to apply for funding to cover up to 50% of the cost of upskilling employees in AI. Funding can be put towards many different types of training, as suits an applicant’s business need. There is no minimum value for an application, which mean a business could claim anywhere from £1-10,000, depending on its size.
Due to the recent election announcement, we have taken the decision to extend the application deadline from 31 May 2024 to 18 August 2024.
Our ask to you:
We would be grateful if you could continue to highlight the scheme to your wider network, including encouraging them to apply.
Here are some additional links on the fund and how to apply including our recent webinar recording.
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🙌🏾The latest from the Colorintech team🙌🏾
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