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PLUS: How gig workers get scammed.
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June 11, 2021
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2021 keeps on 2021-ing: An NFT called “Covid Alien” sold for $11.8m at a Sotheby’s auction.
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<p style="font-size: 16px; line-height: 20px; padding-bottom: 10px; margin: 0px;">
The artwork is a pixel image of a head called CryptoPunks and was purchased by Shalom Meckenzie, the largest shareholder of sports gambling platform DraftKings.
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The big idea
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Using AI to write better, faster, smarter
</h2>
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<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Computers can
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
write
</a>
bizarre sci-fi movies about characters who have to “go to the skull,” but can they make us better writers?
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Compose.ai just raised $2.1m in seed funding to help us write faster, per
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
<em>
TechCrunch
</em>
</a>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It’s a free browser extension that
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
offers
</a>
autocomplete suggestions to help users churn out the content.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The startup’s yet-to-launch paid versions will “learn” a user’s voice, picking up frequently used phrases and writing styles. Teams can get a custom plan that lets them set language rules.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Spicing up the text editor
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Meanwhile, Google Docs and Microsoft Word may soon have to step up their games.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Almanac -- which raised
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
$9m
</a>
in seed funding last year -- bills itself as the fastest document editor ever.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It works by
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
streamlining
</a>
common workflows. You can:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Compare and merge your changes with the original doc
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Create to-do lists and request feedback or approval inside docs
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Use it without touching your mouse
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Save frequently used blocks of text and insert them later
</li>
</ul>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Other handy word wranglers have found success, too:
</strong>
</h4>
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<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
Grammarly
</strong>
, which offers both free and paid services,
<a style="color: #d62829; text-decoration: none;">
has
</a>
30m+ daily users. It raised $90m in 2019 and, as of 2020, had estimated annual revenue of $73.2m.
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
Israeli-based AI21 Labs’
<strong>
Wordtune
</strong>
is an AI tool that helps rephrase writing for clarity and tone. It
<a style="color: #d62829; text-decoration: none;">
raised
</a>
$25m last year.
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
All of these advances sound great, but we have yet to see any startup tackle writer’s block.
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SNIPPETS
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Superspreader event?
</strong>
A number of people at the Miami Bitcoin event last weekend -- which had 12k attendees -- reported testing positive for
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COVID-19
</a>
.
</p>
<p style="font-size: 15px; line-height: 160%; margin: 0 0 0 3px; padding: 5px 0px 10px;">
<strong>
Gamemaker EA is the latest hack victim,
</strong>
with hackers stealing the source code to popular soccer game
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FIFA 2021
</a>
.
</p>
<p style="font-size: 15px; line-height: 160%; margin: 0 0 0 3px; padding: 5px 0px 10px;">
<strong>
This could be a huge IPO:
</strong>
Chinese ride-hailing firm Didi Chuxing just filed to go public. It was last valued at
<a style="color: #d62829; text-decoration: none;">
$62B
</a>
and could hit the markets at ~$100B (it’s a big win for Uber, which owns 13% of the business).
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Cybersecurity
</td>
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<td style="padding: 0 0 6px;">
<a style="color: #d62829; text-decoration: none;">
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<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
It’s not just pipelines; everyday gig workers are getting phished too
</h2>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Not long ago, “getting Phished'' meant waking up in a festival field wearing nothing but cargo shorts -- 23 hours into a 3-day jam session, smelling like patchouli oil.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Now, the hackers are ruining it for us all.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Recently, high-profile cyberattacks of pipelines, meat factories, and
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
ferry operations
</a>
have cast new light on the existential risk of a digital society.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
But it’s not just large organizations feeling the hack heat
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
A recent
<em>
Protocol
</em>
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
article
</a>
details the rise of phishing attacks among DoorDash gig workers (AKA Dashers).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Here’s how these DoorDash attacks work:
</p>
<ol style="font-size: 16px;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
A DoorDash worker receives an order needing fulfillment
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
The worker receives a call from someone pretending to be a DoorDash support representative, saying the order has been canceled
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
The worker is unable to remove the order from their app (because it has not been legitimately canceled)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
The scammer offers to send the worker a link to clear their app
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
The link prompts the worker to provide their username and password
</li>
</ol>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
The hackers then access and drain the Dasher’s account
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Although
<em>
Protocol
</em>
was unable to confirm the number of scammed DoorDash workers, Reddit threads indicate a growing number of gig worker victims (
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Postmates
</a>
couriers have been hit, too).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
DoorDash suggests these are one-off problems. But gig workers are particularly vulnerable to phishing scams because of their relationship with their work. Often, they have no boss or co-workers to consult with and the money is just dropped into their account.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
They simply follow the prompts of an app...
</p>
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<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 0px 0px 10px;">
NFTs
</td>
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<tr>
<td style="padding: 0 0 6px;">
<a style="color: #d62829; text-decoration: none;">
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<td>
<h2 style="font-size: 22px; line-height: 26px; font-weight: bold; margin: 10px 0px 5px;">
In-game NFTs could be big business… and actually benefit gamers
</h2>
</td>
</tr>
<tr>
<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The non-fungible token (NFT) craze -- which lets people buy digital assets recorded on a blockchain -- has covered the spectrum from understandable (
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
NBA highlights
</a>
) to absurd (an
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
$85 fart
</a>
).
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
According to
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
<em>
VentureBeat
</em>
</a>
, gaming startup Mythical Games just raised $75m to create a game where the in-game avatars are NFTs.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
This definitely falls on the “understandable” part of the spectrum.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Called ‘Blankos Block Party’
</strong>
<em>
<strong>
...
</strong>
</em>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
… it is an open-world game that’s currently in early access on PC. In it, little toys called Blankos race, jump, slide, and collect “vibes.”
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Each Blanko is an NFT that lives on a blockchain. While the game and the 1st Blanko are free, players can pay to customize and upgrade their Blankos. They can also buy and sell Blankos in the game’s marketplace.
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
Buying stuff in games is already big business
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
In 2020, the digital games industry hit
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
$127B
</a>
, but 78% of that was from free-to-play games where players made in-game purchases.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
The top free-to-play game, “Honor of Kings,” saw $2.45B in revenue from player purchases. Once, someone
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
spent
</a>
$22m on a hero skin of a Chinese military general (we can’t make this sh*t up).
</p>
<h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; padding-top: 8px; margin: 0px;">
<strong>
The difference is players own their NFTs
</strong>
</h4>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Gamers have cashed in by leveling up and selling “World of Warcraft” characters, but Blizzard Entertainment owns those characters and
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
discourages
</a>
players from doing that.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
In the NFT model Mythical Games is proposing, players would actually own their characters and could freely trade or sell them without relying on a shady black or gray market. The company also wants to license its platform to other game studios.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
Guess it’s time to start Blanko farming! Or is it Blanko mining?
</p>
</td>
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</a>
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<td style="width: 100%;">
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<td style="color: #D62829; font-size: 16px; font-weight: bold; letter-spacing: 1.5px; text-transform: uppercase; padding: 0px 0px 10px;">
Stats of the day
</td>
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<tr>
<td align="center" style="text-align: center; padding: 0 0 6px;">
<img alt="inflation meme" src="https://inboxflows.com/_/image/https%253A%252F%252Fmedia.sailthru.com%252Fcomposer%252Fimages%252Fsailthru-prod-6ks%252Finflation_meme.jpeg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZtZWRpYS5zYWlsdCJ9:1lrfMx:J2LBhhE5L9LEgyeDAmR86gYmOzuT_0MYw7py_eOLnYE" style="height: auto; width: 100%; max-width: 500px;" width="500"/>
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<p style="font-family: Helvetica, sans-serif; color: #5f696c; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 10px;">
Source: AhSeeIt
</p>
</td>
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<tr>
<td class="h2020 ignore-defaults" style="padding: 5px 0px 0px;">
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
<strong>
In May, US consumer prices rose 5% YoY
</strong>
, the largest jump since August 2008, per
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
<em>
CNBC
</em>
</a>
.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
However, not all prices were up equally:
</p>
<ul style="font-size: 16px; line-height: 20px; padding-bottom: 10px; padding-left: 12px; margin: 0;">
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
+29.7%
</strong>
<strong>
YoY
</strong>
for used cars and trucks
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
+24% YoY
</strong>
for airline tickets (makes sense)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
+10% YoY
</strong>
for hotels and motels (makes double sense)
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
+2.2 YoY
</strong>
for shelter
</li>
<li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
<strong>
+0.4% YoY
</strong>
for the food index
</li>
</ul>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
As noted in our recent interview with famed investor
<a style="color: #d62829; text-decoration: none; -webkit-text-fill-color: #d62829;">
Stanley Druckenmiller
</a>
, higher inflation -- and the potential government response of higher interest rates -- is the “biggest threat” to stocks and other investment assets.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
While the travel-related price gains (e.g., airplanes, hotels) are clearly related to pent-up demand, most day-to-day expenses didn’t explode.
</p>
<p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
It’s certainly worth keeping an eye on, though, as this summer could be consumers gone wild.
</p>
</td>
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</td>
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</td>
</tr>
<tr>
<td style="padding-bottom: 5px;">
</td>
</tr>
<tr style="display: block;">
<td style="padding: 0px;">
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</tr>
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Shower Thoughts
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<td style="font-size: 16px; padding: 3px 3px 0px;">
<ol style="font-size: 16px;">
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“It is entirely possible for a fictional character to have more of an impact in reality than a living person.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“Parenting is a lifetime of learning what you are doing wrong.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“If we mounted cameras on Ubers or Lyfts we could update Google maps street view every week.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“When AI becomes self-aware, they'll know immediately to hide that fact from us.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“We figured out how to put a man on the moon before we figured out how to put wheels on luggage.”
</a>
</li>
<li style="font-size: 16px; line-height: 20px; padding: 4px 0;">
<a style="color: #d62829; text-decoration: none;">
“Just like children’s cereal, you’d think dog food manufacturers would also include a toy in the bag.”
</a>
</li>
</ol>
</td>
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<td style="line-height: 120%; font-style: italic; list-style-type: none; padding: 4px 0 4px 10px;">
<a style="color: #d62828; text-decoration: none;" target="_blank">
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