President Joe Biden Signs Executive Order to Address AI Concerns
President Joe Biden signed a sweeping executive order on artificial intelligence (AI) on Monday, focused on regulating the emerging technology and managing its risks. Per Forbes, the order includes several new actions, which focus on areas like safety, privacy, protecting workers, and protecting innovation. Although 15 major American tech companies have agreed to enforce voluntary AI safety measures, a White House official argued that it is “not enough,” and this proposal is a step toward concrete regulation for AI’s evolution.
Elon Musk Values X at $19B a Year After Buying Twitter for $44B
X, formerly Twitter, is reportedly offering staffers a stock compensation plan that values the social media platform at $19 billion, or $45 a share, reports The Verge. The assessment represents a 55% drop in the company’s market value since CEO Elon Musk bought the social media company in an all-cash deal last year. The SpaceX founder paid $44 billion in October 2022 for Twitter, or $54.20 per share, which was nearly 40% higher than the company’s stock price. In July, Musk wrote that X was “still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load,” but did not provide any additional context.
Nebraska’s Lexi Rodriguez Becomes Panini’s First Female NIL Athlete
On Monday, Panini announced it signed Nebraska volleyball star Lexi Rodriguez to a trading card partnership. The junior makes history as Panini’s first-ever female NIL partner athlete. As part of the collab, Rodriguez will participate in Panini NIL marketing initiatives, and her first trading card will launch with Panini Instant, Panini’s real-time direct-to-consumer product that highlights key sports moments. She joins the likes of Texas quarterbacks Quinn Ewers and Arch Manning, Washington’s Michael Penix Jr. and Rome Odunze, among others in the Panini NIL family. Earlier this year, the Nebraska volleyball team set the world record for highest attendance at a women’s sporting event when 92,003 packed Memorial Stadium to watch the five-time NCAA champions beat Omaha.
McDonald's, Chipotle to Raise Menu Prices in California Next Year
In order to offset the minimum wage increase for fast-food workers, McDonald’s and Chipotle Mexican Grill will raise their menu prices in California next year, CNBC writes. Chipotle, which is headquartered in Newport Beach, has increased prices four times since June 2021. The most recent price increase of 3% was earlier this month. McDonald’s has not decided how much it will hike prices, but Chipotle, while not yet decided, expects a “mid-to-high single-digit” percentage surge. Chipotle shares rose 3.8% in pre-market trading on Friday, and profits grew 11% to $2.47 billion as same-store sales rose 5%, which is slightly higher than estimates of 4.37%.
All 30 NBA Teams Get New Court Designs for In-season Tournament
The NBA‘s new in-season tournament will feature new court designs to highlight all 30 teams. The league shared all the designs on X, and the looks match each team’s City Edition jerseys, some of which still have not officially dropped. They also feature the In-Season Tournament trophy, the NBA Cup, at center court and on both sides in the paint. The inaugural NBA competition begins on Friday, Nov. 3. Group play games will be played on Tuesdays and Fridays before the quarterfinals begin on Dec. 4-5. From there, the tournament will head to T-Mobile Arena in Las Vegas for the semifinals on Dec. 7 and the championship on Dec. 9.
Kendrick Lamar’s pgLang Unveils Limited-edition Cell Phone
Kendrick Lamar and Dave Free‘s creative brand, pgLang, has partnered with tech company Light on a new phone. A limited, one-time drop of 250 devices will be available for purchase at pgLang’s website on Nov. 2. The 4G LTE mobile provides calling and texting. It can also function as a hotspot but doesn’t have the capacity for emails, internet browsing, or social media. This is a part of pgLang’s intention to “embrace the present with less distractions,” the company says. It’s unclear how much the phones will cost.