- The Mortgage + Media Newsletter
- Posts
- ChatGPT accidentally fired itself š¤Æ
The only newsletter (probably) where you can get the latest market trends, mortgage news, and social + AI updates all in one place
November 27th, 2023
Last Week:
Last week was actually kinda slow in terms of real estate news. So weāre gonna focus on a big shakeup in the media/AI world insteadā¦ with a little mortgage stuff still mixed in.
Sam Altman got ousted as Open AI CEO, then hired at Microsoft, then un-ousted at Open after his ousters got oustedā¦ yes it really was that confusing
Home inventory is up š
But only because home sales are at record lows š
The doesnāt look it theyāll be taking the foot off the break just yet
Fannie Mae says the recession is almost here
Rates sat flat
Really quick, if someone forwarded this email to you, donāt settle for being at mooch. Sign up and get it for yourself here š
Ok, now letās get to it!
Check out this weekās video š½š
The Media Part
š Just for you, a shiny new (and FREE) content calendar
If youāre like most of the Real Estate industry, you know how important social media is going to be in this upcoming 2024 market.
Let me put it this way: now that AI has entered the chat, the importance of your online presence (and consequently the death of your old marketing tactics ā ) just hit the gas petalā¦ hard!
But the last thing you need to do is get discouraged or overwhelmed, now is the time to GET MOVING! And this new weekly content calendar will help you get some momentum. Itās
Engaging topics
Trending sounds and styles to use
New hooks and ideas
Video guides
A little coaching + encouragement
ALOT MORE!
Just fill out this quick form and Iāll start sending it to you this week! š
š¤ OpenAI, the company behind ChatGPT and the rest of the AI revolution, almost imploded
Well, things got crazy fast over at OpenAI. Out of nowhere on November 17th, the board up and fired longtime CEO Sam Altman, claiming he hadn't been straight with them about...something. They canned president Greg Brockman too just minutes later. Yikes.
Investors and staff were shocked and immediately started clamoring to get Altman back. See, Altman is a big deal in the AI world. Plus, Microsoft CEO Satya Nadella, whose company has invested majorly in OpenAI, said they didn't even get a heads up. Awkward.
Over the next few days, OpenAI was a hot mess. Execs quit or got removed, they blew through 3 CEOs in 3 days, and researchers leaked concerns about some powerful new AI model called Q* that could apparently solve complex new math problems.
By Monday November 21st, staff weren't having it anymore. In an epic angry letter, over 90% of OpenAIās employees told the board to reinstate Altman and Brockman or else they'd all quit on the spot. They called the board incompetent and said they clearly didn't care about OpenAI's mission. Even board member Ilya Sutskever signed the diss letter!
Then, plot twist - Microsoft suddenly hired Altman to lead their own new AI team with an open invite to Openās disgruntled staff. But a day later, OpenAI caved to employee pressure. The board was dissolved and rebuilt with heavy hitters like Bret Taylor and Larry Summers. Then they took Altman back as CEO.
The whole insane saga seems to boil down to internal tensions over how fast OpenAI was charging towards advanced AI without enough care for oversight or ethics. The board got spooked and axed Altman, but literally no one else was cool with that decision. For now, Altman is back while an independent investigation looks into why he got canned in the first place. But one thing's sure - OpenAI can't afford more drama if they wanna keep pushing the AI envelope!
What do you think was this a rash mistake by a chicken board, or is there something to this desperate need to pump the breaks on all these new AI innovations?
The Mortgage Part
š” Homes For Sale: Inventory is up a smidge as high rates and prices continue to drive buyers to the sidelines
š¤ Real Estate Sales: Hit lowest numbers since the Great Recession as low inventory and buyer burnout take their toll
š The Fed: Showing no signs of a reversal in course any time soon, despite positive inflation outlook
š Recession in the Works?: Top housing authority says to prepare for a long and bumpy 2024 before a bounce back in 2025
% Mortgage Rates: Basically flat amid a short and uneventful week
š Coming this week: Back to a busy week with consumer spending and confidence, GDP, home sales and prices, big inflation numbers, and a bunch of Fed officials speak
Well thatās it for the best (and likely only) Mortgage AND Media Newsletter out there. I hope you had a great Thanksgiving weekend and didnāt overdo it on the stuffingā¦ or the Black Friday sales. But hey isnāt that what stretchy pants and year-end bonuses are for??
And as always, Iām happy to help you and your clients with anything mortgage, marketing, or social media. See you next week and
Thanks for reading!
John Birke | Mortgage Advisor | Content Coach
NMNLS 1150795
Movement Mortgage
9726 Old Bailes Road, Suites 121 & 130, Fort Mill, South Carolina 29707
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