🤖Ai craze and blooming flowers

Is Ai is taking over the world but first lets talk about crypto.

What. A. Week.

If you thought the US midterm elections were a big-ticket item you missed out on the crypto drama…

I was enjoying my coffee while scrolling Twitter and boom!!.

The crypto Twitter was going off!

Rob DenBleyker @RobDenBleyker

just to confirm i'm understanding the FTX collapse: over a million people put $1 billion in assets into a crypto company, founded in the bahamas, by a 28 year old. am I understanding this right.

So what happened to FTX?

1/ One of the crypto’s largest exchanges, FTX just filed for bankruptcy and the CEO is potentially on the run.

Let’s start with a brief backstory

2/ Binance (another centralized crypto exchange) was a strategic partner with FTX

3/ In 2021 FTX bought Binance for about $2B mostly paid in FTT (an FTX token) - remember this!

4/ Since the divorce the 2 CEOs became bitter with each other. Public spats became a thing.

5/ Over the weekend Binance CEO announced that “due to recent revelations” they were going to sell all of their FTT tokens. Remember, FTT is FTX’s “money/token”. It sent shockwaves and people started selling off their FTT tokens or withdrawing.

6/ Binance announced that it will acquire FTX to save the consumers.

CZ 🔶 Binance @cz_binance

This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.

7/ But wait there is more!! 24hrs later Binance announces this, which sends FTX on a complete tailspin and essentially crushed.

Binance @binance

As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com.

What happened after the announcement?

8/ Consumer quickly found out FTX CEO, Sam Bankman-Fried (SBF) was using their money to invest in companies like Alameda Research (trading company) which he founded.

9/ SBF happens to date Alameda Research CEO, Caroline 28. Messy shit!

10/ Crypto Twitter is tracking a plane heading to Argentina from the Bahamas. They think SBF is on the run.

11/ FTX has some serious affiliations with athletes like Tom Brady and Steph Curry. It also has the naming rights to Miami Heat’s stadium. Watch this space.

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The rise of Generative Ai

What is it? In short, it is a program that you can give text, audio, images, or video to it and it will generate new plausible content.

Without going too deep, you have what’s called transformers that can be divided into language and vision models.

Transformers do scale when you keep feeding them tons and tons of data points which improves accuracy and performance.

An example of generative artificial intelligence (Ai) is when you give a program a series of prompts to create an image.

Here is an image I created using artificial intelligence

The prompt I used: film still , portrait of a young black woman, no wrinkles, dignified look, curly hair, peculiar nose, peculiar lips, wise, eternal wisdom and beauty, incredible lighting and camera work, depth of field, bokeh, screenshot from a Hollywood movie

How is generative AI trending?

There is a sharp rise in demand for generative Ai programs. Looking at google trends for keywords like “ai art generator” you can see the search volume hitting 120,000 searches per week in the month of October. That’s a lot.

What changes to expect

1. Marketplaces like Fiverr and Upwork will not look the same in the next five years.

2. More venture capital funds are going to be poured into Ai platforms. Jasper.ai just raised $125M at a $1B valuation. Read more here.

3. Accelerated medical research on complicated maladies like cancer.

4. Improved agricultural yields through seed selection and robust precision farming.

5. The rise of “Getty images” for Ai images.

6. NY Bestseller novel that’s completely written by Ai.

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Business Idea of the Week

The demand for indoor plants has stayed the same even after the lockdown. The keyword “indoor plants” has a whooping 110,000 searches per month on google.

Indoor market size is currently at $17.93B and is expected to reach $26.23B by the year 2029, according to Data Bridge Market Research.

We are also seeing a lot of appetite for indoor plants on platforms like TikTok. The hashtag #indoorplants has amassed 393.1M views

Here are some indoor plants business ideas

• Teaching people how to take care of succulents.

• Selling indoor plants online. Some of the players here include companies like bloomscape.com and

• App identifying plants and any diseases.

• Selling potting soil specifically for indoor plants.

• Auction marketplace for rare indoor plants

Well, that’s all I have for this week