Web browser Mozilla is investing $30 million into launching a startup, called Mozilla.ai, focused on building a "trustworthy, independent, and open-source AI ecosystem."
The company wrote in a blog post about the investment: "This new wave of AI has generated excitement, but also significant apprehension. We aren’t just wondering What’s possible? and How can people benefit? We’re also wondering What could go wrong? and How can we address it? Two decades of social media, smartphones and their consequences have made us leery."
Mozilla said it still sees the potential of AI to enrich peoples' lives, but it doesn't see those positive effects coming from "big tech and cloud companies with the most power and influence."
The company pitched Mozilla.ai as a "counterweight to the status quo" that will make "generative AI safer and more transparent." Moez Draief, who researched AI at Imperial College and LSE, will lead the initiative.
Senators Richard Blumenthal (D-Conn.) and Marsha Blackburn (R-Tenn.) have introduced a new bill to afford greater protection to minors on social media. The genesis of the Kids Online Safety Act came from a Facebook whistleblower case exposing the harm apps can have on the mental health of young girls.
Ride share competitors Uber and Lyft both posted their fourth quarter earnings days apart from each other. Both companies have been trying to get back on their feet after taking some pandemic-related hits, but the Omicron variant had other ideas as the year came to a close, with each company taking a hit in ridership in December. Lance Ippolito, head trader at The Future of Wealth explains how Uber and Lyft measured up this earnings period and why Uber may still have an edge over the competition.
Parallel Systems has been selected to receive $4.5 million from the Department of Energy for an advanced testing program of its autonomous, battery-electric rail vehicles. The startup, which has raised more than $53 million to date, was founded by former SpaceX engineers to reimagine the rail system by creating a more efficient, decarbonized freight network. Matt Soule, Co-founder & CEO of Parallel Systems, joined Cheddar's Opening Bell to discuss what the company hopes to achieve.
