🍋 AI Making Professors Lose Sleep

Unless you’ve been living under a rock, you’ve probably heard of ChatGPT. The AI bot is taking the world by storm, but schools are starting to ban it.

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Good Morning and Happy Friday! With an estimated 15% of Americans participating in ‘Dry January," this popular health ritual is leaving many bars feeling like they've been left out in the cold. On top of dealing with high inflation and the post-Covid recovery, these bars are now faced with the sobering reality of a significant drop in sales.

The U.S. has reached its debt limit and it's time for another round of "Let's raise the roof" with Congress. Despite the self-proclaimed Crocodile of Wall Street’s current status as a house arrestee for allegedly masterminding a $4.5 billion crypto heist, Heather Morgan landed herself a gig at an NYC tech firm.

Larger hedge funds flexed their muscles and left their smaller counterparts in the dust last year, outperforming them for the first time since 2018. For finance bros looking for a quick way to flex on coworkers - Carhartt announced it will launch a smart vest that uses AI to keep you warm.

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1. Story of the Day: Robo Rebellion

Unless you’ve been living under a rock, you’ve probably heard of ChatGPT. The AI bot is taking the world by storm, and big-time CEOs are using it to write emails to employees from the Davos conference.

But high school teachers and college professors haven’t been as thrilled. Some teachers suspect students are using the chatbot to cheat on their homework, leading to bans on the tool in certain school systems. New York City and Seattle have since banned the tool on public school Wi-Fi networks and devices to prevent cheating.

ChatGPT is the new hot topic on college campuses, leaving administrators scrambling to keep up. Task forces are being formed left and right, and professors aren’t sure how to respond. Higher education institutions are hesitant to ban the tool, instead opting to redesign their courses to include more oral exams, group work, and handwritten assessments.

Some professors and universities are turning to plagiarism detection services to root out cheating. Over 6,000 teachers from universities like Harvard and Yale, have signed up to use GPTZero, a program that promises to quickly detect A.I.-generated text.

Takeaway: AI is set to revolutionize the world of education, but for now, there’s still a ton of gray area on what's cheating and what's not. When ChatGPT was first released, some college students thought that the chatbot would help take their finals for them. But let's hope that AI evolves into a tool that truly helps us learn and grow, rather than taking our jobs (and our tests).

2. Markets Rundown

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Stocks closed lower as investors digest mixed recession data.

Movers & Shakers

(+) Curevac ($CVAC) +9% after the pharmaceutical company was upgraded by UBS.
(–) Norwegian Cruise Line ($NCLH) -5% after the cruise line expects a net loss for 2022.
(–) Alcoa ($AA) -7% after the aluminum company reported disappointing Q4 earnings.

Private Dealmaking

Shell unit bought EV charging firm Volta for $169 million
Xpansiv, a marketplace for trading environmental commodities like carbon, raised $125 million
Synthekine, a startup that develops immunotherapy drugs, raised $100 million
Peppy, a British women's health platform, raised $45 million
No Meat Factory, a Canadian plant-based protein maker, raised $42 million
Volta Medical, a developer of AI-powered heart treatment software, raised $38 million

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3. Top Reads

Bankers gone mild - on a recession (Axios)
Jamie Dimon says rates will rise above 5% because there’s a lot of underlying inflation (CNBC)
FTX CEO says a viable business could emerge from bankruptcy (YF)
ChatGPT is the talk of Davos (Axios)
Tesla uses its prices as a weapon in the EV price wars (Reuters)
Fed sees higher rates ahead even with inflation progress (CNBC)
How the debt fueling changes may impact you (CNN)
Fears of a white-collar recession are overblown (Vox)
Amazon ends its charity donation program after other cost-cutting efforts (NPR)

4. Book of the Day: The Tools

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5. Short Squeez Picks

7 shareholder letters that will teach you more than an MBA
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6. Daily Visual: Americans Spend More Than They Make as High Prices Pinch

Share of US adults that said their expenses are higher than their income

Source: Axios

7. Daily Acumen

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8. Memes of the Day

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