What we’re reading (11/12)
“Red Lobster Is Bringing Back A Beloved Menu Item After Emerging From Bankruptcy” (CNN Business). “Hush puppies, once a staple on Red Lobster’s menu, are coming back. It’s part of broader changes at the chain, which recently emerged from bankruptcy and is now under the control of a 35-year-old CEO hoping to turn around the seafood restaurant chain’s fortunes. Rolling out this week is an overhauled menu that is 20% smaller but has nine new items, including the beloved cornmeal fritters.”
“OpenAI Is Reportedly Struggling To Improve Its Next Big AI Model. It’s A Warning For The Entire AI Industry.” (Business Insider). “OpenAI's next flagship artificial-intelligence model is showing smaller improvements compared with previous iterations, The Information reported, in a sign that the booming generative-AI industry may be approaching a plateau. The ChatGPT maker’s next model, Orion, showed only a moderate improvement over GPT-4, The Information said, citing some employees who have used or tested it. The leap in Orion has been smaller than that between GPT-3 and GPT-4, especially in coding tasks, the report added.”
“Mexico Signals It Could Hit Back At U.S. With Tariffs Of Its Own” (New York Times). “Mexico’s government on Monday signaled that it planned to hit back with trade restrictions of its own if President-elect Donald J. Trump followed through on his threats to impose sky-high tariffs on Mexican exports to the United States. ‘If you put 25 percents tariffs on me, I have to react with tariffs,’ Marcelo Ebrard, Mexico’s economy minister, told a radio interviewer on Monday. ‘Structurally, we have the conditions to play in Mexico’s favor,’ he added.”
“Saudi Arabian Megacity Neom Replaces Its CEO” (Semafor). “The longtime CEO of Saudi Arabia’s futuristic megacity Neom abruptly left his post, the latest setback for the world’s largest construction project. The departure of Nadhmi al-Nasr, who had led the project since 2018 and reportedly had an aggressive leadership style, marks a major shakeup at Neom, which is a showpiece of Riyadh’s ambition to diversify its economy and become a tourism and entertainment destination. Plans for Neom include a floating industrial city and alpine resort, but it has faced challenges in the last year including budget challenges, delays, and reports of worker deaths.”
“Real-Estate Scions Are Breaking A Cardinal Rule: Never Sell” (Wall Street Journal). “The office market’s severe downturn is forcing some of the city’s multigenerational family owners to do something they managed to avoid during world wars, financial meltdowns and a global pandemic: sell their core properties.”
