NEAR Halving, AI is coming for Whitecollar Jobs, Sovereign AI Launching on NEAR

Captions as YouTube publishes them, usually machine-generated, so product and people names can be misheard.

1. 0:01

   Good morning Legion. What a week for both AI news and the NEAR ecosystem. As many of you probably saw, the inflation reduction housing vote to reduce the inflation of NEAR from 5 to 2.5% has passed the validation threshold of 80%.

2. 0:17

   We are back on track with a more sustainable economic system, with popular buy in from the vast majority of the NEAR ecosystem. Well done. Our first story today is a bit contentious, and something that I'm sure many of you saw in at some point.

3. 0:32

   As the Wall Street Journal reports, tens of thousands of white collar jobs have begun to disappear as AI begins to bite. Some people, like Chamath, might think this is because these companies were previously bloated, while others see genuine concern.

4. 0:46

   in one of the most jarring announcements we've seen to date. The capacity letter documents the numbers behind the recent labor market changes. More than 80,000 people at high paying jobs being let go is a huge signal that the economy might be in a more precarious position than many would expect.

5. 1:02

   Is I to blame? Plenty of people think so, and if that's just the case, it's only the beginning. Yesterday we had the opportunity to sit down with Sal and David to talk to them about their DAT strategy and their vision for the new company, Sovereign AI this video is essential for anyone wanting to understand what a DAT is, how it works in the larger strategic scheme of the NEAR ecosystem,

6. 1:23

   and what Sal and David hope to achieve in the future. We discuss their background, the roadmap of the DAT, the stacked board of advisors including an OpenAI researcher, and much more. Give that a watch and then tune in to the Legion Telegram group. The raid bot is here. We'll do this all again real soon.