Industry Insights: October 25, 2023
by Jordan DeGraw • October 25, 2023
A.I Gets a Nutrition Label
Hello, friends! It’s a new week, and soon the sugar high of All Hallow’s Eve will be upon us. I hope you have your costume picked out and your candy bowls prepped. This week we’re talking about how a coin flip isn’t exactly 50/50, how the age of buying a home is over, and how California is coming for your favorite childhood snacks.
Well, folks, when it comes to predicting a recession, economists seem to be as unsure as the rest of us… They say it’s essentially a coin flip, but it turns out scientists just proved that a coin flip isn’t exactly 50/50 like we always thought! In October 2022, a whopping 63% of economists were pretty gloomy about the US economy, but now, they’re more evenly divided and less fearful thanks to falling inflation, a pause on interest rate hikes, a labor market that’s stronger than the Hulk, and economic growth that’s basically doing a mic drop on their expectations.
Meanwhile, over in the world of finance, JPMorgan’s Jamie Dimon said as part of his Q3 earnings remarks that he thinks we might be living through the “most dangerous time the world has seen in decades”as Israel prepares an expected ground offensive on Gaza. “The war in Ukraine compounded by last week’s attacks on Israel may have far-reaching impacts on energy and food markets, global trade, and geopolitical relationships.”
And speaking of war, it looks like Americans are getting a bit fed up with our two-party system. 63% of folks are like, “Can we please have a third party? Because these other two are bumming me out…” That’s the most thumbs-up for a third party since they started asking in 2003. Maybe we’ll get a “Pizza Party” or a “Netflix and Chill Party” – my fingers are crossed.
Lastly, if you’ve been dreaming of that white picket fence, maybe think again? Renting is the new cool kid on the block, and it’s cheaper than buying a house. The gap’s wider than the grand canyon and it hasn’t been this way since 2015. It’s not a housing market; it’s a renting riot!
A new challenger has entered the arena with Utah fighting TikTok on behalf of child mental health. They’re slapping a lawsuit on the app, claiming it’s messing with our kids’ heads. But hey, they’re not the only ones. Arkansas and Indiana have also filed similar suits. Reports say that more than half of American teenagers are glued to their screens for at least four hours a day, and that’s probably only half the time it takes to master the latest TikTok dance.
Now, in the world of tech, Adobe’s serving up a new dish – it’s called the “nutrition label” for AI-generated content. Yep, you read that right. You’ll soon be able to see a watermark icon on AI creations that spills the beans on who made it and what tools they used. It’s like the nutrition facts on your cereal box, but for virtual stuff. Adobe’s hoping this will bring some honesty into the world of AI-created images and videos. So, get ready for some AI transparency – you’ll be able to tell whether or not your latest tech dish fits in your macros 💪
Just for Fun:
Hold onto your rainbow, folks, because California is declaring a candy crackdown! Well, not on Skittles themselves, but they’re banning all the colorful concoctions containing red dye No. 3, potassium bromate, brominated vegetable oil, or propylparaben. Translation: they’re coming for all your childhood snack favorites so time to blow your grocery budget and STOCK UP.
And speaking of budgeting, Disney just turned “happiest place on Earth” into “expensive-est place on Earth.” If you thought taking your family to a Disney park was pricey before, well, get ready to break open that piggy bank! Park admission, season passes, and even parking tolls are all getting pricier. But hey, it’s all in the name of a $60 billion investment in the parks over the next decade. Mickey’s not just wearing big ears; he’s got deep pockets too!
That’s all our industry insights for now, friends! Join me next week when I buy all the Skittles, Reese’s Pieces, M&Ms, & Strawberry Twizzlers I can afford.
Your friendly Industry Insights devotee,