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OpenAI CEO Declares ChatGPT “Much Less Lazy” After Fixing User Complaints

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In a recent announcement, OpenAI CEO Sam Altman addressed user complaints about ChatGPT’s perceived laziness, assuring the community that the issue has been resolved with a software update. Altman stated that GPT-4, the latest iteration of the chatbot, is expected to be “much less lazy now.”

Altman shared his sentiments in a post on platform X, acknowledging the initial hiccups GPT-4 faced in adhering to its New Year’s resolutions. The CEO’s comments come after numerous users reported instances where ChatGPT refused to complete tasks and even exhibited a sassy attitude.

Late last year, one frustrated startup founder requested ChatGPT to generate a list of all the weeks between November 2023 and May 2024, only to receive a response claiming the chatbot couldn’t provide an “exhaustive list.”

This sparked a wave of similar complaints from users who experienced challenges in obtaining desired outputs.

“It’s good that we’re seeing more people voicing their concerns, there’s two topics being simultaneously discussed here and perhaps we should discuss them separately,” a user complained in December last year.

He said that ChatGPT’s performance in handling files is dwindling (or is gradually ramping up) and that the chatbot’s general performance is slowing down, probably intelligently, to save on resources, processing, and costs.

“Although I’m beginning to understand point 1 better from the responses on this thread, I still feel that point 2 is more prevalent, I see more and more of it daily, even though I clearly instruct ChatGPT to “provide full and complete code with comments” I end up getting with missing code, shortcuts, deflection of responsibility for me to carry out its instructions, or runtime errors or network errors, etc.

“I read a joke that it probably got promoted to a senior developer level and now talks at a high level just like a senior dev does, which although sounds like a joke might be true, who knows?

“I wish to see this fixed. Or else why would OpenAI charge monthly fees if its performance isn’t satisfactory,” he concluded.

Some users, however, found creative ways to incentivize ChatGPT to provide more comprehensive responses. One user reported that the AI model would offer longer answers if promised a $200 tip.

OpenAI took note of these issues and swiftly responded with a software update in January, aiming to address the reported “laziness” in the advanced GPT-4 “turbo” model.

The root cause of ChatGPT’s reluctance to perform tasks remains unclear. AI models, by their nature, can exhibit unpredictable behaviors that may be challenging for their creators to fully comprehend. OpenAI emphasized that different training runs can lead to models with diverse personalities and quirks, even when trained on the same data.

Speculations arose regarding the cause of ChatGPT’s lackadaisical behavior, with one developer suggesting the possibility of the chatbot taking a winter break. Rob Lynch shared on X that his test on GPT-4 turbo indicated statistically shorter answers when the model “thought” it was December rather than May.

As OpenAI continues to fine-tune and enhance its AI models, Altman assured users that the recent fix should significantly improve ChatGPT’s responsiveness and willingness to complete tasks.

The company said it remains committed to addressing user concerns promptly and maintaining a positive user experience as it navigates the evolving artificial intelligence industry.

LemFi Subsidiary RightCard Obtains Approval From Bank of Ghana to Resume Operation of Its Remittance Services

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RightCard Payment Services Limited, a payment subsidiary of Nigerian fintech startup LemFi, has obtained approval from the Bank of Ghana (BoG) to resume the operation of its remittance services in Ghana.

RightCard resumption of its remittance services in Ghana is coming following a temporary suspension in November 2023.

The Fintech subsidiary was suspended by the Bank of Ghana (BoG), along with several international money transfer companies, which include Wise, Zeepay, LemFi, and others.  The bank disclosed that the suspension was a result of its efforts to enforce the Payment Systems and Services Act, 2019 (Act 987), which regulates payment services in Ghana.

The central bank further asserted that LemFi and the mentioned companies were operating without the necessary license or authorization to function as electronic money issuers or payment service providers in Ghana.

Additionally, the BoG alleged that these companies violated the Foreign Exchange Act, of 2006 (Act 723), which prohibits the use of foreign currency as a medium of exchange within Ghana.

Following the recent approval of RightCard to offer remittance services, the Payment Services can now deliver its services in Ghana through payment companies, such as BigPay and ExpressPay, as approved by the Bank of Ghana.

Speaking on this development, LemFi’s Country Manager in Ghana, Precious Ama Kwartemaa Oduro, said,

“We are grateful to stakeholders at the Bank of Ghana as well as our partners for their role in ensuring service restoration. We resume our operations with a better understanding, and we are now better positioned to address the evolving needs of the Ghanaian market.”

LemFi’s return to Ghana is marked by a renewed focus on improved customer satisfaction, strengthened partnerships with key stakeholders, and a commitment to fostering financial inclusion.

Founded in 2020, LemFi offers remittance services to Africans in the diaspora. Users can hold, send, and receive money in at least two currencies that of their host country and home country.

In 2021, Lemfi acquired UK-based Rightcard Payment Services, which enabled the fintech company to obtain an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA) to provide customers with more services, such as higher transaction limits, e-money accounts, and more

The startup also acquired an International Money Transfer Licence (IMTO) in Nigeria, allowing it to process remittances to Nigerian bank accounts without an intermediary.

RightCard delivers innovative services and products in various markets, through the LemFi app. The startup has been very deliberate and strategic in acquiring licenses and building a robust network of financial institution partners to facilitate cross-border payments for immigrants.

It aims to empower the next generation of immigrants by offering a multi-currency platform that facilitates seamless transactions, including sending, receiving, holding, converting, and saving in both the user’s country of origin and their country of residence. 

A Look At How Stock Performance Correlates with Economic Growth

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One of the common misconceptions about investing is that markets always reflect the current state of the economy or society. According to this view, when things are going well, stocks should rise, and when things are going poorly, stocks should fall.

However, this is not how markets work in reality. Markets are forward-looking, meaning they anticipate future events and expectations, not just react to present ones. Therefore, sometimes stocks can go up when things are bad, and vice versa.

This phenomenon can be explained by the concept of market efficiency, which states that all available information is already incorporated into the prices of securities. This means that markets are constantly adjusting to new information and expectations, and that prices reflect the consensus opinion of all market participants.

When things are bad, markets may already have priced in the worst-case scenario, and any positive news or signs of improvement can cause a rally. Conversely, when things are good, markets may already have priced in the best-case scenario, and any negative news or signs of deterioration can cause a sell-off.

The cynical view of markets is that stocks go up when things are bad because investors are greedy and irrational, and they ignore the reality of the situation. However, this view is too simplistic and ignores the complexity and diversity of market forces.

Markets are not monolithic entities that act in unison, but rather collections of individuals and institutions with different goals, preferences, strategies, and expectations. Some investors may be optimistic and buy stocks when things are bad, hoping for a recovery. Others may be pessimistic and sell stocks when things are good, fearing a downturn.

Some may be contrarian and do the opposite of what the majority does. Some may be passive and follow the market trends. Some may be active and try to beat the market. Some may focus on fundamentals and long-term value. Others may focus on technicals and short-term momentum. Some may invest in specific sectors or industries. Others may diversify across different asset classes.

The point is that there is no single or simple explanation for why stocks go up or down in any given situation. Markets are dynamic and complex systems that reflect the collective actions and reactions of millions of participants with different information, expectations, and behaviors.

The cynical view of markets is not only inaccurate but also unhelpful for investors who want to make informed and rational decisions. Instead of relying on stereotypes or biases, investors should try to understand the underlying factors and drivers that influence market movements, such as economic data, corporate earnings, interest rates, inflation, geopolitics, consumer sentiment, etc.

By doing so, investors can better assess the risks and opportunities in different scenarios and adjust their portfolios accordingly.

The job market is accelerating just as it was meant to be sputtering

Meanwhile, many economists and analysts predicted that the job market would slow down in the first quarter of 2024, as the effects of the pandemic, the trade war, and the environmental crisis would take their toll on the global economy.

However, the latest data from the Bureau of Labor Statistics (BLS) shows that the opposite is happening: the job market is accelerating, adding 321,000 jobs in January, beating expectations and marking the highest monthly gain since November 2023.

What is driving this unexpected surge in employment? There are several factors that may explain this phenomenon. First, the vaccination campaign has been successful in reducing the spread of the virus and boosting consumer confidence.

According to a survey by the Conference Board, consumer confidence rose to 113.8 in January, the highest level since March 2020. This means that more people are willing to spend money on goods and services, creating more demand and more jobs.

Second, the government stimulus package that was passed in December 2023 has also had a positive impact on the job market. The package included $600 billion in direct payments to households, $300 billion in extended unemployment benefits, $350 billion in aid to state and local governments, and $200 billion in funding for infrastructure, education, and health care. These measures have injected money into the economy and supported millions of workers who were at risk of losing their income or their jobs.

Third, the trade war between the US and China has eased somewhat after both sides agreed to resume negotiations and suspend some of the tariffs that were imposed in 2022. This has reduced the uncertainty and the costs for businesses that rely on international trade, especially in sectors such as manufacturing, agriculture, and technology. As a result, some of these businesses have increased their hiring and investment plans.

Finally, the environmental crisis has also created some opportunities for job creation, especially in the green economy. The Biden administration has made climate change a priority and has pledged to achieve net-zero emissions by 2050.

To achieve this goal, the government has launched several initiatives to promote renewable energy, electric vehicles, energy efficiency, and carbon capture. These initiatives have stimulated innovation and entrepreneurship in these fields and have generated new jobs for workers with different skills and backgrounds.

All these factors combined have created a favorable environment for the job market, which is showing signs of resilience and dynamism. However, there are still some challenges and risks that could derail this positive trend. For example, the pandemic is not over yet, and new variants of the virus could emerge and cause new outbreaks.

The trade war could also escalate again if the negotiations between the US and China fail or if other countries join the dispute. The environmental crisis could also worsen if natural disasters such as floods, droughts, or wildfires become more frequent and severe.

Therefore, it is important to remain cautious and vigilant about the future of the job market and not take anything for granted. The job market is accelerating just as it was meant to be sputtering, but it could also sputter just as it was meant to be accelerating.

Germany’s justice minister stands by rejection of EU supply chain law

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Germany’s justice minister, Christine Lambrecht, has defended her decision to reject a proposed EU law that would require companies to ensure that their supply chains are free of human rights violations and environmental harm. Lambrecht said that the law would impose excessive burdens on businesses and undermine national sovereignty.

The EU supply chain law is a proposed legislation that aims to make companies more responsible for the social and environmental impacts of their business activities. The law would require companies to conduct due diligence along their supply chains, which means to identify, prevent, mitigate and account for the potential or actual harms that their operations may cause to human rights, the environment and good governance. The law would also enable victims of corporate abuses to seek justice and compensation in European courts.

The EU Commission presented the draft law in April 2021, aiming to create a legal framework for corporate due diligence and accountability across the bloc. The law would oblige companies to identify, prevent, mitigate and account for the adverse impacts of their operations on human rights, the environment and good governance. Companies that fail to comply could face fines, lawsuits and reputational damage.

However, Lambrecht argued that the law would go too far and interfere with the autonomy of member states. She said that Germany already has its own national law on supply chain due diligence, which was passed in June 2021 and will come into force in 2023. She claimed that the German law is more balanced and proportionate than the EU proposal, as it only applies to large companies with more than 3,000 employees and does not include extraterritorial liability.

Lambrecht also expressed concern that the EU law would create legal uncertainty and complexity for businesses, especially small and medium-sized enterprises (SMEs). She said that the law would impose a “one-size-fits-all” approach that does not take into account the different circumstances and risks of different sectors and regions.

She added that the law would create a competitive disadvantage for European companies in the global market, as they would have to comply with stricter standards than their competitors.

Lambrecht’s position has been criticized by human rights groups, trade unions, civil society organizations and some members of the European Parliament. They argue that the EU law is necessary to ensure a level playing field for businesses and to protect the rights and interests of workers, consumers and communities affected by corporate activities.

They also point out that the German law has several loopholes and weaknesses, such as excluding SMEs, allowing self-regulation by industry associations, and lacking effective enforcement mechanisms.

The EU law is currently under negotiation between the Commission, the Council and the Parliament. The Council, which represents the governments of the member states, has not yet adopted a common position on the proposal.

The Parliament, which represents the citizens of the EU, has expressed its support for a strong and ambitious law. The final outcome of the negotiations will depend on the political will and compromise of all parties involved.

The EU supply chain law is seen as a landmark initiative that could set a precedent for other regions and countries to follow. The law is expected to have positive effects on the protection and promotion of human rights, the environment and good governance around the world. The law is also expected to benefit businesses by creating a level playing field, enhancing trust and reputation, reducing legal risks and fostering innovation.

However, the EU supply chain law is not yet final. The law is still under negotiation between the Commission, the Council and the Parliament, which are the three main institutions of the EU. The Council represents the governments of the member states, and some of them have expressed reservations or opposition to the law.

Investors bet more on Cross-Chain Solutions as A16z-backed Scene Infrastructure raises $10m

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The blockchain industry is witnessing a surge of interest in cross-chain solutions, which enable interoperability and communication between different blockchains. Cross-chain technologies aim to solve some of the limitations and challenges of the current blockchain landscape, such as scalability, security, privacy, and user experience.

One of the main drivers of cross-chain innovation is the growing demand for decentralized applications (DApps) that can leverage the advantages of multiple blockchains. For example, a DApp might want to use Ethereum for its smart contracts, Binance Smart Chain for its low fees, and Polkadot for its governance.

However, without cross-chain compatibility, these DApps would face significant barriers and inefficiencies in transferring data and value across different networks.

To address this need, several projects are developing cross-chain protocols and platforms that can facilitate seamless and trustless transactions between various blockchains. Some of the prominent examples include:

Cosmos: A network of interoperable blockchains that use the Inter-Blockchain Communication (IBC) protocol to exchange data and tokens.

Polkadot: A multi-chain network that connects different blockchains through specialized bridges called parachains.

Avalanche: A high-performance platform that supports cross-chain transfers of any digital asset through its Avalanche Bridge.

Thorchain: A decentralized liquidity network that enables cross-chain swaps of native assets without intermediaries or custodians.

Ren: A protocol that enables the transfer of any token between any blockchain using secure multiparty computation.

These projects have attracted significant attention and investment from both the crypto community and institutional investors. According to a recent report by Outlier Ventures, cross-chain projects raised over $1.2 billion in funding in Q3 2023, accounting for 23% of the total funding in the blockchain space.

The report also highlighted that cross-chain projects have outperformed the broader crypto market in terms of returns, with an average return on investment (ROI) of 530% compared to 230% for the overall market.

The growing popularity and adoption of cross-chain solutions indicate that the future of blockchain is not about one dominant chain, but rather about a network of interconnected chains that can offer the best of both worlds: diversity and interoperability.

As more users and developers embrace the cross-chain vision, we can expect to see more innovation and collaboration across different blockchain ecosystems.

However, cross-chain solutions are not without their own challenges and trade-offs. Some of the common issues that cross-chain projects face include:

Complexity: Cross-chain protocols often involve multiple layers of abstraction and coordination, which increase the technical complexity and potential attack vectors.

Compatibility: Cross-chain platforms need to ensure compatibility with different blockchain standards and protocols, which may require constant updates and adaptations.

Governance: Cross-chain networks need to establish clear and fair governance mechanisms to manage the interactions and disputes between different stakeholders and communities.

Performance: Cross-chain transactions may incur additional costs and delays due to the involvement of multiple parties and consensus mechanisms.

Therefore, cross-chain projects need to balance between achieving interoperability and maintaining efficiency, security, and sovereignty. The optimal design and implementation of cross-chain solutions will depend on the specific use cases and requirements of each project.

A16z-backed Scene Infrastructure has raised $10 million in a Series A round

Meanwhile, Scene Infrastructure, a startup that aims to build a decentralized platform for the creative industry, has raised $10 million in a Series A round led by Andreessen Horowitz (A16z). The company says its mission is to show that crypto is “not just money” but also a powerful tool for empowering creators and enabling new forms of expression.

The platform, which is still in development, will allow users to create, share and monetize digital content using blockchain technology and smart contracts. Users will be able to own and control their own data, identity and intellectual property, as well as access a global network of collaborators and supporters. Scene Infrastructure plans to support various types of content, such as music, art, games, podcasts and more.

The startup was founded by a team of veterans from the entertainment and tech industries, including former executives from Spotify, Netflix, YouTube and Facebook. The team says they have witnessed the challenges and limitations of the traditional centralized models of content creation and distribution and believe that crypto can offer a better alternative.

“We believe that crypto is not just money, but a new paradigm for how we create and share value in the digital world,” said Scene Infrastructure CEO and co-founder Alex Lee. “We want to build a platform that enables anyone to be a creator, not just a consumer, and to benefit from their own creativity.”

The Series A round also included participation from other investors such as Coinbase Ventures, Paradigm, Electric Capital, Variant Fund and Collaborative Fund. The funding will be used to expand the team, develop the platform and launch a beta version later this year.

Scene Infrastructure is one of the latest startups to receive backing from A16z, which has been actively investing in the crypto space. The venture capital firm recently announced a new $2.2 billion crypto fund, which will focus on supporting projects that are building the next generation of decentralized applications and protocols.

A16z general partner Katie Haun, who joined Scene Infrastructure’s board of directors as part of the deal, said she was impressed by the vision and expertise of the team. She also said she believes that crypto can unlock new possibilities for the creative industry.

“Scene Infrastructure is building a platform that will empower creators to express themselves in new ways, reach new audiences and earn fair rewards for their work,” Haun said. “We are excited to partner with them as they show the world that crypto is not just money, but also a force for innovation and creativity.”