đ OpenAI expands to Asia
Good morning, Quartz readers!
Hereâs what you need to know
OpenAI is expanding into Asia. Its first office on the continent will be in Tokyo, and Japanese businesses will get early access to a custom GPT-4 model.
Hong Kong is behind Bitcoinâs latest revival. The cryptocurrency rebounded yesterday after Hong Kong approved its first spot Bitcoin and Ether exchange-traded funds (ETFs).
Trump Media stock is plummeting as it plans to issue millions of more shares. The audit firm of the company behind former President Donald Trumpâs Truth Social is also under new scrutiny.
In other stock news, Salesforce and Informatica investors arenât thrilled about the companiesâ potential tie up. Shares of both organizations were down yesterday. Big bank stocks, on the other hand, had a dandy day.
Everything you need to know about Teslaâs layoffs
Tesla decided Mondays arenât already hard enough and dished out lots of bad news to employees and investors yesterday.
Three of the most important takeaways:
đ More than 10% of Teslaâs global workers (14,000 people) are being laid off
đđ Key Tesla leaders are calling it quits, raising succession concerns
đ€€ Tesla is âlean, innovative and hungry for the next growth phase cycle,â CEO Elon Musk said in a leaked memo to staff
And if that wasnât a big enough day for Musk, he also said all new X users may have to pay to post.
Charted: Wall Streetâs Reddit expectations arenât reality
Redditâs stock price fell to a new low yesterday.
But Wall Street has much, much higher ambitions.
Whatâs going on? Quartzâs Laura Bratton looked at the growing discrepancy.
More from Quartz
𫧠The AI craze is no dot-com bubble. Hereâs why
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đ” Warren Buffettâs Berkshire Hathaway keeps buying up Liberty Sirius XM stock
đ„Ÿ L.L. Bean is laying off employees as customers move toward online shopping
âïž The 10 busiest airports in the world â including 1 airport new to the list
đ”ïž Microsoft is âground zeroâ for foreign state-sponsored hackers, executive says
Surprising discoveries
A million returns are sent to the U.S. Internal Revenue Service every hour on Tax Day. Thatâs with 70% of the countryâs expected returns having already been submitted as of April 5.
An orbital garbage truck is trying to get rid of space debris from 2009. An idea for a new TV show: Space junk hunters.
Pyrite, known as foolâs gold, is actually worth something. The metal may contain lithium, which is in high demand.
Believe it or not, scientists are still looking for a ninth planet. They havenât found it in 78% of the places it could be, but thereâs still a chance itâs in hiding.
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Our best wishes for a productive day. Send any news, comments, orbital trash bins, and celestial hiding places to [email protected]. Todayâs Daily Brief was brought to you by Morgan Haefner.