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If you haven't heard of 'DeepSeek' then you are officially out of touch when it comes to AI chat.
Pick & Scroll News
January 29, 2025
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Good morning. If you haven't heard of 'DeepSeek' then you are officially out of touch when it comes to AI chat.
Here's what you need to know to get through any geeky lunchroom chat:
DeepSeek is a Chinese AI chatbot reportedly made at a fraction of the cost of its rivals, launched last week and has already become the most downloaded free app in the US.
DeepSeek is powered by the open-source DeepSeek-V3 model, which its researchers claim was trained for around $6 million - significantly less than the billions spent by rivals.
Nvidia and other tech firms connected to AI, including Microsoft and Google, saw their values tumble in the last few days.
The company boasted of "performance on par with" one of OpenAI's latest models, which is raising question marks over the expensive alternative models.
All the headlines and more below...
AUSTRALIAN NEWS
Big business launches bid to scrap penalty rates for retail workers
Major retailers Coles and Woolworths are pushing for penalty rate changes whilst the ACTU warns of broader industry impacts. LINK
Victoria's first ticketless public transport trial has drawn criticism for its limited scope while Conduent's $1.7B payment system faces delays. LINK
Nearly 60,000 Build-to-Rent apartments are planned or under construction with Victoria leading development. LINK
Research reveals 700,000 Australians over 65 may be overpaying $650 annually in superannuation taxes. LINK
Australia is testing innovative farming technologies including experimental fungi and robotic bees to combat climate change effects. LINK
1 in 10 people use identical four-digit PINs for multiple accounts. LINK
COMPANY NEWS
Nvidia loses 17% of market value after DeepSeek shock
Nvidia experienced a 17% market value loss after DeepSeek's AI chatbot became the top iPhone app download in the US. LINK
AMP will launch Australia's first numberless debit cards with Mastercard to enhance small business security. LINK
Visa and Mastercard are opposing the RBA's push for payment processing fee transparency. LINK
Microsoft is considering acquiring TikTok as Trump raises national security concerns about the app. LINK
Chemist Warehouse is finalising its merger with Sigma Healthcare as the pharmacy chain reported $5.15B in first-half retail sales. LINK
The AFL seeks larger gambling revenue shares through renegotiated bookmaker partnerships. LINK
Publicis Groupe has acquired Atomic 212 to strengthen its media capabilities in Australia and New Zealand. LINK
DP World will invest $400M to double rail capacity at Port Botany through infrastructure upgrades. LINK
Crown Resorts is pursuing 1,000 slot machine acquisitions for its Sydney casino to expand gaming operations. LINK
The SMSF Association opposes the proposed 15% tax on super fund gains above $3M. LINK
NinjaOne will acquire Dropsuite for $402M to enhance cybersecurity offerings through integrated endpoint management. LINK
Viva Energy forecasts FY25 earnings of $750M following record fuel sales despite refinery challenges. LINK
ONE MORE SCROLL
Editor’s Pick: Predicting the “digital superpowers” we could have by 2030.
Draft Pick: Wallabies announce Test match against Fiji in Newcastle.
Odd Pick: Penguin divorce rates soar on Phillip Island.
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TRIVIA
Coin Consulting
Here is a brainteaser to kick off your Wednesday. If you get it right, consider yourself past the first stage of a McKinsey interview.
You have 8 coins, and one of them is counterfeit and weighs less. How can you find the counterfeit coin in just two weighing's on a balance scale?
Answer below
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ANSWER
Place 3 coins on one side of the balance scale and 3 coins on the other side.
Outcome of the first weighing:
If the scale is balanced,
- The counterfeit coin is in the remaining 2 coins.
- Balance the two coins and you will find the lighter coin.
If the scale tips on the first weigh:
- The lighter group contains the counterfeit coin.
- Put two of the three coins on either side of the scale.
- If the scale tips, you have your lighter coin.
- If the scale is balanced, it is the third coin that you put aside.
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