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Here are this weeks insightful reads:
1.) Federal Judge Questions SEC's Broad Approach in Coinbase
2.) The Evolution of Writing: A Glimpse into AI's Impact on the Human Writing Industry
3.) TikTok's AI Song Feature: A Note of Caution in the World of AI-Generated Music
Federal Judge Questions SEC's Broad Approach in Coinbase
A recent hearing in a Manhattan federal court has brought to light the concerns of the presiding judge, Katherine Polk Failla, over the U.S. Securities and Exchange Commission's (SEC) expansive interpretation of securities laws. The case involves the SEC's allegations against Coinbase, accusing it of operating as an unregistered broker and labeling several cryptocurrencies, including SOL, ADA, and MATIC, as securities.
The heart of the matter lies in the SEC's proposed application of the Howey test, a standard for identifying an investment contract, which Judge Failla fears might be too broad. The Howey test has long been used to determine whether an asset qualifies as a security. During the five-hour hearing, the judge expressed concern about the potential wide-reaching implications of the SEC's interpretation, questioning whether it could extend to classifying collectibles or commodities as securities.
The SEC's argument hinges on the idea that token holders in these cryptocurrencies are part of a common enterprise with an expectation of profits, making the tokens securities. If this logic prevails, it could pave the way for numerous private actions against issuers under securities laws.
What makes this case particularly significant is the SEC's comments about Layer 1 projects like Cardano and Solana, suggesting they should be considered securities. The judge's decision on Coinbase's motion to dismiss could have far-reaching consequences, especially for Layer 1 projects, potentially impacting their regulatory standing and market dynamics. A dismissal could not only influence price action but also set a precedent challenging the SEC's stance on a broader spectrum of crypto assets.
As Judge Failla deliberates on the motion, the outcome could significantly shape the regulatory landscape for cryptocurrencies, providing insights into the SEC's jurisdictional reach and the potential impact on Layer 1 projects.
The Evolution of Writing: A Glimpse into AI's Impact on the Human Writing Industry
As we stand on the precipice of 2024, a bold prediction echoes through the corridors of the writing industry: the "human writing" profession will be nearly extinct by the year's end. We find ourselves in the initial phase of this transformation, witnessing the metamorphosis of human writers into operators and editors of AI tools.
Currently, AI tools demonstrate an impressive 90% efficiency in handling a substantial part of content creation. Yet, they still depend on human intervention for nuanced tasks. For example, ensuring search queries receive NLP-friendly answers remains a distinctly human responsibility, with these subtleties holding the key to effective SEO and user engagement.
Surfer AI, among other tools, is on the brink of solving these remaining subtleties, presenting a future where AI might handle what was once deemed "only humans can do." ChatGPT, with the right prompts, already produces content more engaging than many professional copywriters, signaling a paradigm shift in the industry.
The landscape is changing, evident in content agencies like Niche Website Builders facing insolvency. The pertinent question arises: how do we redefine the role of human writers in this new era? Will they transition into supervisors and quality controllers of AI-generated content, or will entirely new roles emerge, pushing the boundaries of our current imagination?
Adaptation becomes the writer's mantra in this evolving environment. Embracing the productivity surge enabled by AI tools, a single writer transforms into a content agency capable of producing ten 2000-word articles daily. The writing profession stands at a crossroads, prompting reflection on the future and the potential for a redefined, symbiotic relationship between human creativity and AI efficiency.
This glimpse into the evolution of writing forces us to pause, contemplating how other industries will undergo similar transformations in the blink of an eye. The demise of the "human writing" industry is just a prelude to the broader wave of AI's influence on our professional landscapes.
TikTok's AI Song Feature: A Note of Caution in the World of AI-Generated Music
TikTok, the viral sensation that has birthed numerous musical hits, is now venturing into AI-generated songs with its new feature, AI Song. This tool utilizes the vast language model Bloom to transform text prompts into musical compositions. While the concept is intriguing, early experiments suggest it might be a leap too soon.
Users can input lyrics into the text field when creating a post, prompting TikTok to recommend AI Song to add sounds with the option to toggle the song's genre. Despite this seemingly innovative approach, the initial results have been less than stellar. TikTok users like Jonah Manzano and Kristi Leilani have encountered issues, with songs going out of tune and lyrics losing their intended rhythm.
The platform has seen previous success with AI-generated songs, notably the infamous AI Drake and The Weeknd collaboration, "Heart on My Sleeve." However, criticism from artists like Bad Bunny highlights the potential pitfalls of embracing AI sound-alikes.
TikTok isn't alone in exploring generative AI features. YouTube, too, has delved into this realm, allowing users to create songs from text prompts or hummed tunes through its Dream Track functionality, offering 30-second snippets in the style of popular artists.
In response to the rise of AI-generated content, TikTok has taken steps to enhance transparency. The app now features tools to identify AI-created content, and updated rules require users to be upfront about utilizing AI in their posts.
As TikTok pioneers the integration of AI in songwriting, the journey seems to be in its early stages. The not-so-harmonious results indicate that, while the future may hold promising developments, there's a need for refinement and caution before the "human touch" in songwriting is entirely relinquished to artificial intelligence.
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This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions or investments. Please be careful and do your own research.