🧠🔎 OpenAI Releases Search Engine?

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Jul 28, 2024

Happy Sunday,

Hope you’re well - we’re almost at the end of July so time is flying by. I’m personally going to England and Scotland for 11 days starting on Wednesday for vacation, so I have been scrambling to get some content ready to publish while I am gone!

Last July, Rickie and I tried taking a month off with only 2 videos to publish, and we noticed a huge decrease in viewership and growth, and my attempt to “take a month off” backfired, since I didn’t have anything special planned for that month, I felt like I was half-working, half-not - which just made me anxious on both ends. Anxious when I wasn’t working, and anxious when I was working because I was supposed to be taking time off.

This year, we’re taking a more traditional approach to vacation - 10-12 days fully off. So while I will still be checking on videos and replying to some comments, I’ll mostly be turned off. I hope to post some fun pictures of my trip, and if you have any recommendations for London, Edinburgh, the Isle of Skye, or Scottish Highlands - let me know!

I’ll also be taking time to reflect and figure out how we can offer you, the reader, more value in this Newsletter and on the channel.

Chat soon,

— Humphrey

Market Report

OpenAI unveils SearchGPT, the new Google Rival

OpenAI recently unveiled SearchGPT, a new AI-powered search prototype designed to provide timely answers to queries using information from the web.
The interface is similar to ChatGPT, offering responses with links to sources, follow-up questions, and related searches in a sidebar.
Powered by GPT models, SearchGPT aims to enhance search experiences by combining conversational capabilities with real-time web information.
- Currently available to a limited group of users and publishers, OpenAI plans to eventually integrate some of SearchGPT's features into ChatGPT.

US Economy Grew Faster Than Expected Last Quarter on Strong Demand

In the second quarter of 2024, the U.S. economy grew at an annualized rate of 2.8%, surpassing expectations and doubling the 1.4% growth rate from the first quarter.
- This acceleration was driven by a 2.3% increase in consumer spending, particularly on durable goods and services, and robust business investment in equipment.
Despite high borrowing costs, inflation showed signs of cooling, with the PCE price index rising 2.9%, down from 3.7% in the previous quarter.
Government spending, especially in defense, also contributed positively, while residential investment declined due to high mortgage rates.

Fed’s Favored Price Index Rises at Mild Pace, Spending Holds Up

The Federal Reserve's preferred measure of inflation, the core PCE index, rose 0.2% in June from May and 2.6% from a year ago, slightly above expectations but still indicating a cooling trend.
While these figures suggest progress in the Fed's efforts to tame inflation without severely impacting the economy, some indicators point to potential challenges ahead.
- The savings rate fell to 3.4%, the lowest since December 2022, and wage growth slowed to 0.3% in June.
Despite the overall positive trend in inflation data, consumer sentiment declined to an eight-month low in July, indicating that Americans still feel the impact of higher prices.