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The Internet Archive just lost its appeal over ebook lending
(www.theverge.com)
This is a most excellent place for technology news and articles.
The valuation is based on the expectation of the company to make massive profits. And if you think investor money is not profit for the people running Open AI, you're crazy. We could only hope that they run out of money and go out of business. But that'll never happen now with the amount of faith these corporations are putting in "AI" research.