Why the World’s Biggest Bitcoin Fund Is Bleeding Assets

WSJ Tech News Briefing

The Wall Street Journal

News, Tech News

4.3 • 1.7K Ratings

🗓️ 19 April 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

For years, the Grayscale Bitcoin Trust was one of the few ways to invest in bitcoin without buying the cryptocurrency itself. But in recent months, more than a dozen competing funds have popped up. Now the trust, which is still the world’s largest bitcoin fund, is bleeding. WSJ reporter Vicky Ge Huang tells host Alex Ossola how Grayscale is fighting to compete. Plus, Meta has released its latest AI model. WSJ social media business reporter Salvador Rodriguez talks about what’s new, and how it might change the user experience on the company’s platforms. Listening on Google Podcasts? Here's our guide for switching to a different podcast player. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Net Suite by Oracle brings accounting, finance, inventory, and HR into one proven platform, helping you reduce costs everywhere.
0:09.0	Back by popular demand, Net Suite is extended its one-of-a-kind flexible financing program for a few more weeks.
0:15.8	Head to Netzweed.com. Wall Street.
0:19.8	Welcome to Tech News Briefing. It's Friday, April 19th. I'm Alex Oscela for the Wall Street Journal.
0:29.0	Coming up on today's show, Meta has come out with its latest artificial intelligence model.
0:34.0	We'll hear about what's new and how it fits into the company's apps from
0:37.9	W.S.J. Social media business reporter Salvador Rodriguez.
0:41.4	And then, Grayskill's Bitcoin fund is the largest in the world. But now, investors are
0:47.1	fleeing in favor of its lower cost competitors like Black Rock and Fidelity.
0:51.1	W.S.J. reporter Vicky Gue Wong tells us how Greyscale is fighting to compete with Wall Street
0:56.8	Giants.
0:58.8	But first, Meta has released its latest publicly available AI model called Lama 3.
1:07.0	To start, it's releasing two versions, an 8 billion parameter model and a 70 billion parameter model.
1:12.0	Parameters are variables in an AI system. model and a 70 billion parameter model.
1:13.0	Parameters are variables in an AI system that measure a model size and capabilities.
1:17.0	So how does Meta's new model stack up to competitors like ChatGPT and Google Gemini?
1:22.0	W.S.J. Social media business reporter Salvador Rodriguez
1:26.0	is here to tell us.
1:27.0	So where might the users of Metas products encounter this new AI model?
1:31.0	Yeah, so before it was a little bit hidden. Now what they're going to do is that they're
1:35.1	putting Meta AI front and center within the search function of the various apps. And so now whenever you go to
1:42.4	search anything you should be encountering Meta AI at that point.
	...

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