This week in charts
Small-cap stock returns
U.S. equity returns following Liberation Day
Markets reactions to the Great Financial Crisis
Valuation metrics across regions
Valuation range by country
Price performance – small-cap vs. large-cap
Price performance – growth vs. value
European index sales exposure
Domestic and foreign ownership of equities
European defence companies
This conversation is being recorded — and so is everything else you do in San Francisco
A crop of startups is selling stealthy AI-powered recording devices and software that’s becoming increasingly popular across Silicon Valley. Regardless of whether you’re in a contentious work meeting, having coffee on a first date, or enjoying the wild abandon of a house party, there’s a growing likelihood that someone is listening.
Some of these devices are wearables masquerading as fashionable pendants, like those made by Limitless, or discreet lapel pins, like those by Plaud. Bee has a device that resembles a Fitbit. Others are apps that run quietly in the background of phones and laptops, like Cluely, Granola, and OpenAI’s new ChatGPT Record feature.
It can be hard to know when one is being used. Some devices flash or light up when they’re recording; others glow when they’re switched off. Most automatically generate AI transcripts and audio recordings of everything with which their owner interacts.
Why would anyone voluntarily wear these roving surveillance devices? It’s not necessarily to catch people saying things they’ll regret. Enthusiasts report that the recorders help them stay “present” in meetings, outsource busywork, and act as a perpetually available collaborator.
But many who work in offices where the devices are becoming the norm report that they have begun to self-censor, worried about every offhand comment being etched into an AI-generated transcript. Meanwhile, lawyers warn that it’s only a matter of time before these nonconsensual records and audio files become liabilities in court.
The always-listening crowd
For many in the tech industry, AI recording tools have become a way of life.
But some users acknowledge that Silicon Valley’s newfound recording culture has them on edge. Even a confidential chat in the back of a coffee shop may not be safe.
Is this even legal?
The rules around recording permission differ by state. California’s wiretapping law requires everyone in a confidential conversation to give explicit consent before being recorded in situations where there’s a “reasonable expectation of privacy.”
For now, the responsibility for getting appropriate consent has largely fallen on users, with companies distancing themselves from legal liability. An OpenAI spokesperson told The Standard that users must get consent and obey local laws; the company encourages this by placing a grayed-out reminder — “ask before recording others” — beneath its red “record” button.
This week’s fun finds
Visiting from Montreal, relationship manager Raphaelle hosted a special moai where we could celebrate not only great food but the sense of family that makes us who we are. A culture that’s dear to her heart, she sees the same family spirit at EdgePoint that she does with her Italian family.
“Siamo una famiglia, sempre pronti ad accogliere chiunque voglia farne parte”.
“We are family, welcoming anyone who wants to be part of it”.
A Glowing Inflatable Canyon by ENESS Squeezes Inside Melbourne’s Prahran Square
Although it appears that thousands of tons of boulders have been dropped into Prahran Square in Melbourne, the enormous rocks are actually as light as air. Art and technology studio ENESS (previously) has installed its inflatable “Iwagumi Air Scape” in the park, creating an immersive canyon for visitors to wander through.
While the 16 massive stones have a grainy, granite-like texture during the day, at night, they glow in otherworldly pinks and yellows, creating a surreal landscape that illuminates the urban environment. Audio of flora and fauna accompanies the work, so that when viewers squeeze through what would be a treacherous pass between real boulders, the soft inflatables and mountain sounds wrap them in a natural embrace.
