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Happy Sunday, and welcome to a special pre-inaugural issue of The Hidden 
Layer, my new twice-weekly private email for Puck covering the business of 
artificial intelligence. The first official edition of this newsletter will 
hit your inbox this Tuesday.





July 6, 2025








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PREVIEW VERSION


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 	Ian Krietzberg


Happy Sunday, and welcome to a special pre-inaugural issue of The Hidden 
Layer, my new twice-weekly private email for Puck covering the business of 
artificial intelligence. I’m Ian Krietzberg.

The first official edition of this newsletter will hit your inbox this 
Tuesday—click here to make sure you’re on the list—but until then, I wanted 
to share a bit of my own backstory, my evolving perspective on this 
trillion-dollar industry, and how I made my way to Puck. And as a reminder, 
when you sign up for Puck, you can access every private email from all of 
our authors. See you on the inside.







A.I.’s Hidden Layer (And Why I Joined Puck)



The rise of A.I., already a trillion-dollar industry, is still badly 
misunderstood by the media and warped by its own reality distortion field. 
At Puck, my goal is to reground the reporting surrounding A.I. with an 
insider’s view of the business and unbiased understanding of the technology, 
itself.




 	Ian Krietzberg




I was a business reporter, in early 2023, when Sam Altman, the C.E.O. and 
co-founder of OpenAI, sat before Congress and implored the government to 
regulate artificial intelligence. Just a few months earlier, OpenAI had 
quietly released an app called ChatGPT that promised to usher in a new 
technological revolution, turning Altman into a household name practically 
overnight.

At the hearing, Altman was agreeable and unassuming, gesturing at a world 
that would be remade with more productive and fulfilling jobs. He also 
nodded, darkly, at A.I.’s potential risks. “I think if this technology goes 
wrong, it can go quite wrong. And we want to be vocal about that,” he said. 
“We want to work with the government to prevent that from happening.”

Altman, unlike Elon Musk, his former partner in OpenAI, has always had a 
chameleonic talent for telling people what they want to hear. And yet the 
subtext of what Altman was saying was unmistakable. His testimony grabbed 
the attention of at least two people: Senator Peter Welch—who said he couldn’t 
remember a time “when we’ve had companies come before us and plead with us 
to regulate them”—and me.

I immediately pivoted to reporting on A.I., at that time still an embryonic 
business, but one that was growing exponentially. My own career took off, 
too. Less than a year later, I became editor-in-chief of The Deep View, an 
A.I. industry newsletter, that I grew to nearly half a million readers. 
Today, I’m excited to be sending my first dispatch as the A.I. correspondent 
for Puck, where we’ve just launched The Hidden Layer, a new, twice-weekly 
email covering the business of artificial intelligence.



Mimicry Machines



As always, my goal as a reporter has been to sort science fact from science 
fiction. The trouble—or fascination—with this field in particular is that 
much of the critical science is built on significant unknowns that fuel 
assumptions, educated guesses, and full-on hypotheticals.



The two A.I. factions in Silicon Valley that generate the most headlines are 
the accelerationists, who are racing to create a superintelligence they 
believe will unleash a technological utopia, and the doomers, who worry we’re 
on the precipice of summoning powers we can’t control. Of course, the 
majority of industry players are operators and opportunists: investors, 
engineers, academics, and entrepreneurs concerned with more prosaic 
issues—productivity gains and P&Ls, cost, environmental impacts, grounded 
risk assessments and regulatory policy, etcetera.

Incredibly, even as A.I. has become an all-consuming obsession in 
Washington, Hollywood, and on Wall Street, the conversations surrounding the 
technology are still painfully imprecise. All the major A.I. companies 
(OpenAI, Google, Anthropic, Meta, Nvidia, xAI…) and researchers (Geoffrey 
Hinton, Yann LeCun, Melanie Mitchell, Margaret Mitchell, and Gary Marcus, to 
name a few) use different benchmarks to compare models and offer competing 
definitions of what artificial “intelligence” really is. Is intelligence 
unique to humans? What makes humans intelligent? Is consciousness or 
sentience a requirement for intelligence? What is consciousness, anyway?

It doesn’t help that biological intelligence is a poorly defined and vaguely 
understood concept, at best. Dr. David Cox, a neuroscientist by training who 
now works as IBM’s V.P. for A.I. models, told me this year that “we could 
fill encyclopedias with what we don’t know about how natural brains work.” 
The notion of “artificial intelligence” is probably a misnomer, too: John 
McCarthy, an early computer science pioneer, said he coined the term 
“because we had to do something when we were trying to get money for a 
summer study in 1956”—he and his co-researchers had originally referred to 
their work as “automata studies,” which, they discovered, was much less sexy 
than “A.I.”



Whatever it is, the A.I. we have today has already shattered benchmarks that 
were once held by some within the field of computer science to be sacred 
markers of machine intelligence. The chatbots of today, according to some 
researchers, have arguably passed the Turing test, a 75-year-old proposition 
that, very simply, aims to determine whether a machine can consistently 
convince a human that it is, itself, a human. People are already forming 
close relationships, and even falling in love, with the same chatbots that 
can’t reliably perform basic math. Maybe we’re just easier to fool than we’d 
like to think.



A Trillion-Dollar Gold Rush



In the years since ChatGPT’s fateful launch, I’ve spoken with hundreds of 
technologists and academics alike, spanning computer scientists, engineers, 
psychologists, cognitive scientists, philosophers, investors, inventors, and 
executives. I’ve read all the research and white papers, studied the 
industry’s history, and followed every cutting-edge development from new 
L.L.M.s to entirely different systems and the unique hardware innovations 
that might unlock future progress. Much has changed since this field became 
mainstream, but much remains the same.



Governments around the world, for one, are now very publicly all in on A.I., 
as I’ve been reporting for months. Billions of dollars’ worth of investments 
into the infrastructure that makes A.I. possible have been announced, even 
as the Trump administration’s adoption of the technology has been 
haphazardly accelerated, at least in part, by Musk’s time with DOGE. 
(Indeed, the president’s initial Liberation Day tariffs appeared to be 
calculated by ChatGPT.) Just last month, the U.S. Department of Energy made 
a somewhat stark claim, calling A.I. “the next Manhattan Project.”

As large language models grow larger, more sophisticated, and add hundreds 
of millions of users, the hardware that makes them tick has been consuming 
steadily increasing quantities of energy and raw materials. Both 
environmental transparency and cost-benefit analyses are essentially 
nonexistent. There’s no clearer example of the vibe shift than Altman, 
himself, who began his public-facing career pleading for regulation, and is 
now promising a near-term technological utopia and calling for more 
government assistance (and dollars) with fewer guardrails. Last month, after 
striking a deal with Trump to build a large data center in Abu Dhabi, OpenAI 
secured a $200 million defense contract with the U.S. government.



The Hidden Layer



At Puck, my ambition is to cover these rapid developments in A.I. by 
returning critical thinking to an industry that’s often misunderstood by the 
media and warped by its own reality distortion field. Reporting on A.I. 
badly needs to be regrounded with a more expert and unbiased understanding 
of the technology itself—both its mystery and its limitations. That’s why we’ve 
named this newsletter The Hidden Layer—a reference to the complex, unseen 
process that occurs within a neural network between when you prompt a model 
and it responds. It’s the black box connecting input and output where deep 
learning happens and creativity appears to emerge.

The Hidden Layer nods at the opacity and misconceptions surrounding the 
business of A.I., too. The truth is that large language models remain bound, 
for now at least, by many of the same constraints as existed in 2022: 
persistent issues of bias and reliability; an inability of these systems to 
differentiate truth from falsehood; no obvious path to true human-like 
intelligence, despite billions of dollars spent and gigawatts of electricity 
expended chasing a tipping point that is perpetually right around the 
corner. Microsoft and Google say about 25 percent of their code is now being 
generated by A.I.; Meta predicts “most” code will be written by A.I. in 
12-18 months. And yet, implementation has been nonlinear. A.I.-based 
software engineering products remain, like their more general-purpose 
counterparts, brittle and difficult to trust. And while Duolingo is now an 
“A.I.-first” company, others, like Klarna, have backtracked after diving 
headfirst into A.I.—a development I’ve been tracking closely.

Of course, I’ll also be covering the genuinely remarkable ways in which A.I. 
might improve our lives. We’ve seen advancements in A.I.-centric projects 
designed to enable more advanced weather prediction and rapid wildfire 
detection; generative A.I.–based programs that are helping kids overcome 
dyslexia at scale; and promising research into the potential of this 
technology to aid in the discovery of new molecules, drugs, and treatments, 
all while advancing hyper-personalized medical diagnostics.

Can A.I. cure cancer? Well, no, not yet… and probably never, at least in 
those terms (it’s not really as simple as it sounds). But there’s no 
question that the biomedical field is now moving faster than ever, as tasks 
that once took days or weeks are now done in hours. Still, utopia does not 
lie on the horizon; the context that surrounds each of these applications is 
rife with moral and ethical complications and calculations that make even 
the positive applications difficult to blindly pursue.



As with any new technology, how these tools will be used or abused comes 
down to incentives, regulations, and risk assessment. Igor Jablokov, the 
A.I. pioneer behind Siri and Alexa, rather creatively summed up the state of 
the field in 2025 as a force for good or evil. “You’re creating this hammer 
on the presumption that Jimmy Carter is going to put it in his hand and he’s 
going to build Habitat for Humanity for you,” Jablokov said. “Sometimes, you 
can’t foresee that Ted Bundy is going to be hitting people over the head 
with it.”

It also requires improving communication and building trust—with the public, 
with the people building and deploying these systems, and with the systems 
themselves. When I first began reporting on A.I., I did so out of awe but 
also fear—because the better you understand something, the less reason you 
have to be afraid. (As such, I can tell you quite a bit about the physics 
behind aviation.) I want to build that trust with you, too. After all, when 
it comes to A.I., it’s vital that everyone—regardless of their technical 
expertise—recognize that they have a very real stake in whatever happens 
next.







Join Emmy Award-winning journalist Peter Hamby, along with the team of 
expert journalists at Puck, as they let you in on the conversations insiders 
are having across the four corners of power in America: Wall Street, 
Washington, Silicon Valley, and Hollywood. Presented in partnership with 
Audacy, new episodes publish daily, Monday through Friday.







A professional-grade rundown on the business of sports from John Ourand, the 
industry’s preeminent journalist, covering the leagues, players, agencies, 
media deals, and the egos fueling it all.




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Hollywood’s A.I. Fireworks



MATTHEW BELLONI, IAN KRIETZBERG & ERIQ GARDNER




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London’s $43.5M Canaletto



JULIE BRENER DAVICH




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Armani-Ralph Succession Planning



LAUREN SHERMAN








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9pbi8_dXRtX2NhbXBhaWduPUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcis=
tK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JYW4rS3JpZXR6YmVy=
ZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJGNiUyRjI1JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6NTU4Njc5fQ/825f33daad0c8a9ae6f81c8d6dbe39b33=
d15603fbd61e5fd54888003c208ccf3" target=3D"_blank" rel=3D"noopener" =
style=3D"text-decoration:underline;color:
#d40000;">Start a free 14-day trial</a></strong>=C2=A0to unlock =
unlimited access to Puck.</p></div>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-top:24px;"><div align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid =
#d9d9d9;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table class=3D"n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:24px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
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ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclM=
kY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDMwfQ/9930d8bc4=
830f47d0bda720f5adfe2e1ac1e758425a71c9f2536e4c612d58240" =
target=3D"_self" style=3D"text-decoration:none;"><img alt=3D"Ian =
Krietzberg" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1748885050291_avatar-ian_01JWRTR51X4A2YBH1JWXMPVSVM.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL0lhbi1LcmlldHpiZXJnLz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCt=
ub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250=
ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclM=
kY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDMwfQ/9930d8bc4=
830f47d0bda720f5adfe2e1ac1e758425a71c9f2536e4c612d58240" =
target=3D"_self" style=3D"color:#d40000;text-decoration:none;">Ian =
Krietzberg</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Happy =
Sunday, and welcome to a special pre-inaugural issue of The Hidden =
Layer, my new
twice-weekly private email for Puck covering the business of artificial =
intelligence. I=E2=80=99m <strong>Ian Krietzberg</strong>. <br/><br/>The =
first <em>official</em> edition of this newsletter will hit your inbox =
this Tuesday=E2=80=94<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvdGhlLWhpZGRlbi1sYXllci8_dXRtX2NhbXBhaWduPUlhbitLcmlldHpiZXJ=
nK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1=
dG1fY29udGVudD1JYW4rS3JpZXR6YmVyZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEU=
yslMjg3JTJGNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG=
1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjg=
iLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIyMTQwNn0/=
e7088b6df25bb5fa77ac184dd219bec287b6c2ed6391808a76182af594e69583" =
style=3D"text-decoration:underline;color:#d40000;">click here</a> to =
make sure you=E2=80=99re on the list=E2=80=94but until then, I wanted to =
share a bit of my own backstory, my evolving perspective on this =
trillion-dollar industry, and how
I made my way to Puck. And as a reminder, when you <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcis=
tK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JYW4rS3JpZXR6YmVy=
ZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJGNiUyRjI1JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6NTU4Njc5fQ/825f33daad0c8a9ae6f81c8d6dbe39b33=
d15603fbd61e5fd54888003c208ccf3" =
style=3D"text-decoration:underline;color:#d40000;">sign up</a> for Puck, =
you can access every private email from all of our authors. See you on =
the inside.=C2=A0</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"u" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:12px;vertical-align:top;border-radius:0px;">
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"width:100%;"><div align=3D"center"><div =
style=3D"max-width:600px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
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tcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4=
NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uL=
UhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1=
mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgi=
LCJsaW5rX2lkIjoyMjU4MDMxfQ/3826270d3836c24eca854aae8331eaf17dee252596acd8=
f4ef96f0a7433edf88" target=3D"_blank"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1751841454311_altman_01JZGY6ERJM5PQ958NJZ77NXV4.jpg" =
style=3D"display:block;height:auto;border:0;
width:100%;" width=3D"600" alt=3D"A.I.=E2=80=99s Hidden Layer (And Why I =
Joined Puck)" title=3D"A.I.=E2=80=99s Hidden Layer (And Why I Joined =
Puck)" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"g oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"padding-bottom:16px;padding-left:24px;padding-right:24px;padding=
-top:16px;text-align:center;width:100%;"><h1 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:48px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:
58px;"><span style=3D"word-break:break-word;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
FuLWtyaWV0emJlcmctYWktaGlkZGVuLWxheWVyLXdoeS1pLWpvaW5lZC1wdWNrLz91dG1fY2F=
tcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4=
NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uL=
UhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1=
mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgi=
LCJsaW5rX2lkIjoyMjU4MDMxfQ/3826270d3836c24eca854aae8331eaf17dee252596acd8=
f4ef96f0a7433edf88" target=3D"_blank" =
style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener">A.I.=E2=80=99s Hidden =
Layer (And Why I Joined Puck)</a></span></h1>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-left:24px;padding-right:24px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:19px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:29px;"><p style=3D"margin:0;">The =
rise of A.I., already a trillion-dollar industry, is still badly =
misunderstood
by the media and warped by its own reality distortion field. At Puck, my =
goal is to reground the reporting surrounding A.I. with an =
insider=E2=80=99s view of the business and unbiased understanding of the =
technology, itself.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;border-bottom:8px solid =
transparent;border-left:24px solid transparent;border-right:24px solid =
transparent;border-top:8px solid transparent;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:
left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;vertical-align:top;border-radius:0px;">
<table class=3D"n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#d40000;font-family:&#39;PuckSerifDi=
splay&#39;,&#39;Georgia&#39;;font-size:20px;font-weight:400;padding-botto=
m:8px;padding-right:8px;padding-top:8px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL0lhbi1LcmlldHpiZXJnLz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCt=
ub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250=
ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclM=
kY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDMwfQ/9930d8bc4=
830f47d0bda720f5adfe2e1ac1e758425a71c9f2536e4c612d58240" =
target=3D"_self" style=3D"text-decoration:none;"><img alt=3D"Ian =
Krietzberg" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1748887621842_avatar-ian_01JWRX6M8H1QYPP3CAF3J03PYH.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/></a>
</td><td =
style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;text-align:left;line-height:normal;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvYX=
V0aG9yL0lhbi1LcmlldHpiZXJnLz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCt=
ub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250=
ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclM=
kY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDMwfQ/9930d8bc4=
830f47d0bda720f5adfe2e1ac1e758425a71c9f2536e4c612d58240" =
target=3D"_self" style=3D"color:#d40000;text-decoration:none;">Ian =
Krietzberg</a>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:12px;vertical-=
align:top;">
<table class=3D"n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">I was =
a business reporter, in early 2023, when<strong> Sam Altman</strong>, =
the C.E.O.
and co-founder of OpenAI, sat before Congress and implored the =
government to regulate artificial intelligence. Just a few months =
earlier, OpenAI had quietly released an app called ChatGPT that promised =
to usher in a new technological revolution, turning Altman into a =
household name practically overnight. <br/><br/>At the hearing, Altman =
was agreeable and unassuming, gesturing at a world that would be remade =
with more productive and fulfilling jobs. He also nodded, darkly, at =
A.I.=E2=80=99s potential
risks. =E2=80=9CI think if this technology goes wrong, it can go quite =
wrong. And we want to be vocal about that,=E2=80=9D he said. =E2=80=9CWe =
want to work with the government to prevent that from =
happening.=E2=80=9D<br/><br/>Altman, unlike <strong>Elon Musk</strong>, =
his former partner in OpenAI, has always had a chameleonic talent for =
telling people what they want to hear. And yet the subtext of what =
Altman was saying was unmistakable. His testimony grabbed the attention =
of at least two people: Senator <strong>Peter
Welch</strong>=E2=80=94who said he couldn=E2=80=99t remember a time =
=E2=80=9Cwhen we=E2=80=99ve had companies come before us and plead with =
us to regulate them=E2=80=9D=E2=80=94and me. <br/><br/>I immediately =
pivoted to reporting on A.I., at that time still an embryonic business, =
but one that was growing exponentially. My own career took off, too. =
Less than a year later, I became editor-in-chief of The Deep View, an =
A.I. industry newsletter, that I grew to nearly half a million readers. =
Today, I=E2=80=99m excited to be sending my first dispatch as the
A.I. correspondent for Puck, where we=E2=80=99ve just launched <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvdGhlLWhpZGRlbi1sYXllci8_dXRtX2NhbXBhaWduPUlhbitLcmlldHpiZXJ=
nK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1=
dG1fY29udGVudD1JYW4rS3JpZXR6YmVyZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEU=
yslMjg3JTJGNiUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG=
1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjg=
iLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIyMTQwNn0/=
e7088b6df25bb5fa77ac184dd219bec287b6c2ed6391808a76182af594e69583" =
style=3D"text-decoration:underline;color:#d40000;">The Hidden Layer</a>, =
a new, twice-weekly email covering the business of artificial =
intelligence.</p></div>
</td></tr></tbody></table>
<table class=3D"g oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"padding-bottom:32px;text-align:center;width:100%;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:24px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;=
mso-line-height-alt:29px;"><strong>Mimicry Machines</strong></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;margin-bottom:0px;">As always, my goal as a reporter =
has been to sort science fact from science
fiction. The trouble=E2=80=94or fascination=E2=80=94with this field in =
particular is that much of the critical science is built on significant =
unknowns that fuel assumptions, educated guesses, and full-on =
hypotheticals.</p><p style=3D"margin:0;margin-bottom:0px;">=C2=A0</p><p =
style=3D"margin:0;margin-bottom:0px;">The two A.I. factions in Silicon =
Valley that generate the most headlines are the accelerationists, who =
are racing to create a superintelligence they believe will unleash a =
technological utopia, and the
doomers, who worry we=E2=80=99re on the precipice of summoning powers we =
can=E2=80=99t control. Of course, the majority of industry players are =
operators and opportunists: investors, engineers, academics, and =
entrepreneurs concerned with more prosaic issues=E2=80=94productivity =
gains and P&amp;Ls, cost, environmental impacts, grounded risk =
assessments and regulatory policy, etcetera.<br/><br/>Incredibly, even =
as A.I. has become an all-consuming obsession in Washington, Hollywood, =
and on Wall Street, the conversations
surrounding the technology are still painfully imprecise. All the major =
A.I. companies (OpenAI, Google, Anthropic, Meta, Nvidia, xAI=E2=80=A6) =
and researchers (<strong>Geoffrey Hinton</strong>, <strong>Yann =
LeCun</strong>, <strong>Melanie Mitchell</strong>, <strong>Margaret =
Mitchell</strong>, and <strong>Gary Marcus</strong>, to name a few) use =
different benchmarks to compare models and offer competing definitions =
of what artificial =E2=80=9Cintelligence=E2=80=9D really is. Is =
intelligence unique to humans? What makes
humans intelligent? Is consciousness or sentience a requirement for =
intelligence? What is consciousness, anyway? <br/><br/>It =
doesn=E2=80=99t help that biological intelligence is a poorly defined =
and vaguely understood concept, at best. Dr. <strong>David Cox</strong>, =
a neuroscientist by training who now works as IBM=E2=80=99s V.P. for =
A.I. models, told me this year that =E2=80=9Cwe could fill encyclopedias =
with what we don=E2=80=99t know about how natural brains work.=E2=80=9D =
The notion of =E2=80=9Cartificial intelligence=E2=80=9D is probably a
misnomer, too: <strong>John McCarthy</strong>, an early computer science =
pioneer, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cueW91dHViZS=
5jb20vd2F0Y2g_dj0wM3AyQ0FEd0dGOFx1MDAyNnV0bV9jYW1wYWlnbj1JYW4rS3JpZXR6YmV=
yZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJGNiUyRjI1JTI5XHUwMDI2=
dXRtX2NvbnRlbnQ9SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBR=
FMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dX=
RtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyNTgwMzJ9=
/858d3ffa1a5620893db8b031073823bea304c9101c478c03de873d7a15d95b11" =
style=3D"text-decoration:underline;color:#d40000;">said</a> he coined =
the term =E2=80=9Cbecause we had to do something when we were trying to =
get money for a summer study in 1956=E2=80=9D=E2=80=94he and his =
co-researchers had originally referred to their work as =
=E2=80=9Cautomata studies,=E2=80=9D which, they discovered, was much =
less sexy than =E2=80=9CA.I.=E2=80=9D</p><p =
style=3D"margin:0;margin-bottom:0px;">=C2=A0</p>
<p style=3D"margin:0;">Whatever <em>it</em> is, the A.I. we have today =
has already shattered benchmarks that were once held by some within the =
field of computer science to be sacred markers of machine intelligence. =
The chatbots of today, according to some researchers, have <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuc2NpZW5jZS=
5vcmcvZG9pLzEwLjExMjYvc2NpZW5jZS5hZHE5MzU2P3V0bV9zb3VyY2U9dGhlZGVlcHZpZXd=
cdTAwMjZ1dG1fbWVkaXVtPW5ld3NsZXR0ZXJcdTAwMjZ1dG1fY2FtcGFpZ249bGxtcy10aGUt=
aW1pdGF0aW9uLWdhbWUtYW5kLXRoZS1jb21wbGV4LWhpc3Rvcnktb2YtdGhlLXR1cmluZy10Z=
XN0XHUwMDI2dXRtX2NhbXBhaWduPUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYX=
llcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1JYW4rS3JpZXR=
6YmVyZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJGNiUyRjI1JTI5XHUw=
MDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvX=
HUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjI1ODAzM30/37e05339f3dc03345ff7f7fb7aa=
5fc9c8d7ed5b3e13d4607c718cde5ade5aaf2" =
style=3D"text-decoration:underline;color:
#d40000;">arguably passed the Turing test</a>, a 75-year-old proposition =
that, very simply, aims to determine whether a machine can consistently =
convince a human that it is, itself, a human. People are already forming =
close relationships, and even falling in love, with the same chatbots =
that can=E2=80=99t reliably perform basic math. Maybe we=E2=80=99re just =
easier to fool than we=E2=80=99d like to think.</p></div>
</td></tr></tbody></table>
<table class=3D"g" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"padding-bottom:32px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:24px;font-weight:700;letter-spaci=
ng:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;=
mso-line-height-alt:29px;"><strong>A
Trillion-Dollar Gold Rush</strong></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;margin-bottom:0px;">In the years since =
ChatGPT=E2=80=99s fateful launch, I=E2=80=99ve spoken with hundreds of
technologists and academics alike, spanning computer scientists, =
engineers, psychologists, cognitive scientists, philosophers, investors, =
inventors, and executives. I=E2=80=99ve read all the research and white =
papers, studied the industry=E2=80=99s history, and followed every =
cutting-edge development from new L.L.M.s to entirely different systems =
and the unique hardware innovations that might unlock future progress. =
Much has changed since this field became mainstream, but much remains =
the same.</p><p style=3D"margin:0;margin-bottom:0px;">=C2=A0</p><p =
style=3D"margin:0;">Governments around the world, for one, are now =
<em>very</em> publicly all in on A.I., as I=E2=80=99ve been reporting =
for months. Billions of dollars=E2=80=99 worth of investments into the =
infrastructure that makes A.I. possible have been announced, even as the =
<strong>Trump</strong> administration=E2=80=99s adoption of the =
technology has been haphazardly accelerated, at least in part, by =
Musk=E2=80=99s time with DOGE. (Indeed, the president=E2=80=99s initial =
Liberation
Day tariffs appeared to be <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cudGhldmVyZ2=
UuY29tL25ld3MvNjQyNjIwL3RydW1wLXRhcmlmZnMtZm9ybXVsYS1haS1jaGF0Z3B0LWdlbWl=
uaS1jbGF1ZGUtZ3Jvaz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlk=
ZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlhb=
itLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMj=
UlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9=
tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoi=
ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDM0fQ/5f42c8c9edc4f51a3a=
10c0496c735b6ce1509a18760db9a861c8c5daad978c0b" =
style=3D"text-decoration:underline;color:#d40000;">calculated</a> by =
ChatGPT.) Just last month, the U.S. Department of Energy made a somewhat =
stark claim, calling A.I. =E2=80=9Cthe next Manhattan =
Project.=E2=80=9D<br/><br/>As large language models grow =
<em>larger</em>, more sophisticated, and add hundreds of millions of =
users, the hardware that makes them tick has been consuming steadily
increasing quantities of energy and raw materials. Both environmental =
transparency and cost-benefit analyses are essentially nonexistent. =
There=E2=80=99s no clearer example of the vibe shift than Altman, =
himself, who began his public-facing career pleading for regulation, and =
is now <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9ibG9nLnNhbWFsdG=
1hbi5jb20vP3V0bV9zb3VyY2U9dGhlZGVlcHZpZXdcdTAwMjZ1dG1fbWVkaXVtPW5ld3NsZXR=
0ZXJcdTAwMjZ1dG1fY2FtcGFpZ249aG93LWJpZy10ZWNoLWlzLXVzaW5nLXRoZS1haS1yYWNl=
LWFuZC10aGUtc3BlY3Rlci1vZi1hZ2ktdG8tY2VtZW50LWl0cy1wb3dlclx1MDAyNnV0bV9jY=
W1wYWlnbj1JYW4rS3JpZXR6YmVyZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMj=
g3JTJGNiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SWFuK0tyaWV0emJlcmcrV0lKUCtub24=
tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09=
ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtP=
WY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOC=
IsImxpbmtfaWQiOjIyNTgwMzV9/f00f64d7c081ce9b8c1f25a089f3581615c0db3695be5c=
ba6e88d358a3182edf" =
style=3D"text-decoration:underline;color:#d40000;">promising</a>
a near-term technological utopia and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9jZG4ub3BlbmFpLm=
NvbS9nbG9iYWwtYWZmYWlycy9vc3RwLXJmaS9lYzY4MGI3NS1kNTM5LTQ2NTMtYjI5Ny04YmN=
mNmU1Zjc2ODYvb3BlbmFpLXJlc3BvbnNlLW9zdHAtbnNmLXJmaS1ub3RpY2UtcmVxdWVzdC1m=
b3ItaW5mb3JtYXRpb24tb24tdGhlLWRldmVsb3BtZW50LW9mLWFuLWFydGlmaWNpYWwtaW50Z=
WxsaWdlbmNlLWFpLWFjdGlvbi1wbGFuLnBkZj91dG1fc291cmNlPXRoZWRlZXB2aWV3XHUwMD=
I2dXRtX21lZGl1bT1uZXdzbGV0dGVyXHUwMDI2dXRtX2NhbXBhaWduPWhvdy1iaWctdGVjaC1=
pcy11c2luZy10aGUtYWktcmFjZS1hbmQtdGhlLXNwZWN0ZXItb2YtYWdpLXRvLWNlbWVudC1p=
dHMtcG93ZXJcdTAwMjZ1dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZ=
GVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlhbi=
tLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjU=
lMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9t=
ZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZ=
jZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDM2fQ/43b3123961b7596285d=
dd64874a2a754e14836a12d6c0ad8d8a1977c95ec7cdd" =
style=3D"text-decoration:underline;color:#d40000;">calling</a> for more =
government assistance (and dollars)
with fewer guardrails. Last month, after striking a deal with Trump to =
build a large data center in Abu Dhabi, OpenAI secured a $200 million =
defense contract with the U.S. government.</p></div>
</td></tr></tbody></table>
<table class=3D"g" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"padding-bottom:32px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:24px;font-weight:700;letter-spaci=
ng:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;=
mso-line-height-alt:29px;"><strong>The
Hidden Layer</strong></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;margin-bottom:0px;">At Puck, my ambition is to cover =
these rapid developments in A.I. by returning
critical thinking to an industry that=E2=80=99s often misunderstood by =
the media and warped by its own reality distortion field. Reporting on =
A.I. badly needs to be regrounded with a more expert and unbiased =
understanding of the technology itself=E2=80=94both its mystery and its =
limitations. That=E2=80=99s why we=E2=80=99ve named this newsletter =
<em>The Hidden Layer</em>=E2=80=94a reference to the complex, unseen =
process that occurs within a neural network between when you prompt a =
model and it responds. It=E2=80=99s the black box connecting
input and output where deep learning happens and creativity appears to =
emerge.<br/><br/>The Hidden Layer nods at the opacity and misconceptions =
surrounding the <em>business</em> of A.I., too. The truth is that large =
language models remain bound, for now at least, by many of the same =
constraints as existed in 2022: persistent issues of bias and =
reliability; an inability of these systems to differentiate truth from =
falsehood; no obvious path to <em>true</em> human-like intelligence, =
despite billions
of dollars spent and gigawatts of electricity expended chasing a tipping =
point that is <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuZnQuY29tL2=
NvbnRlbnQvMDI3YjEzM2YtZjdlMy00NTlkLTk1YmYtOGFmZDgxNWFlMjNkP3V0bV9jYW1wYWl=
nbj1JYW4rS3JpZXR6YmVyZytXSUpQK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJG=
NiUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZ=
GVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haW=
xfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxp=
bmtfaWQiOjIyNTgwMzd9/f1e7e2e8e91549323120640191a45e6c2800b374b123bed0687e=
c35956ab9822" =
style=3D"text-decoration:underline;color:#d40000;">perpetually right =
around the corner</a>. Microsoft and Google say about 25 percent of =
their code is now being generated by A.I.; Meta predicts =
=E2=80=9Cmost=E2=80=9D code will be written by A.I. in 12-18 months. And =
yet, implementation has been nonlinear. A.I.-based software engineering =
products remain,
like their more general-purpose counterparts, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cudGhlZGVlcH=
ZpZXcuY28vcC9pbnRlcnZpZXctbWFraW5nLWFpLWZvci1jb2RlLWdlbmVyYXRpb24tYWN0dWF=
sbHktd29yaz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZGVuK0xh=
eWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PUlhbitLcmlld=
HpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdT=
AwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9=
cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2=
MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDM4fQ/3a64578ac40cda34293d8aa0f0=
6a7a70f35e2c389fb7216dd3628b5af4bc07a8" =
style=3D"text-decoration:underline;color:#d40000;">brittle and difficult =
to trust.</a> And while Duolingo is now an =E2=80=9CA.I.-first=E2=80=9D =
company, others, like Klarna, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuYmxvb21iZX=
JnLmNvbS9uZXdzL2FydGljbGVzLzIwMjUtMDUtMDgva2xhcm5hLXR1cm5zLWZyb20tYWktdG8=
tcmVhbC1wZXJzb24tY3VzdG9tZXItc2VydmljZT91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJl=
cmcrV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyN=
nV0bV9jb250ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQU=
RTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV=
0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQy=
OCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjU4MDM5f=
Q/d8ba32877854454fcc0630284a825674d5e09e56d698a46cab811180511b8649" =
style=3D"text-decoration:underline;color:#d40000;">have backtracked</a> =
after diving
headfirst into A.I.=E2=80=94a development I=E2=80=99ve been tracking =
closely. <br/><br/>Of course, I=E2=80=99ll also be covering the =
genuinely remarkable ways in which A.I. might improve our lives. =
We=E2=80=99ve seen advancements in A.I.-centric projects designed to =
enable more advanced weather prediction and rapid wildfire detection; =
generative A.I.=E2=80=93based programs that are helping kids overcome =
dyslexia at scale; and promising research into the potential of this =
technology to aid in the discovery of new molecules, drugs, and
treatments, all while advancing hyper-personalized medical diagnostics. =
<br/><br/>Can A.I. cure cancer? Well, no, not yet=E2=80=A6 and probably =
never, at least in those terms (it=E2=80=99s not really as simple as it =
sounds). But there=E2=80=99s no question that the biomedical field is =
now moving faster than ever, as tasks that once took days or weeks are =
now done in hours. Still, utopia does not lie on the horizon; the =
context that surrounds each of these applications is rife with moral and =
ethical complications and
calculations that make even the positive applications difficult to =
blindly pursue.</p><p style=3D"margin:0;margin-bottom:0px;">=C2=A0</p><p =
style=3D"margin:0;">As with any new technology, how these tools will be =
used or abused comes down to incentives, regulations, and risk =
assessment. <strong>Igor Jablokov</strong>, the A.I. pioneer behind Siri =
and Alexa, rather creatively summed up the state of the field in 2025 as =
a force for good or evil. =E2=80=9CYou=E2=80=99re creating this hammer =
on the presumption that
<strong>Jimmy Carter</strong> is going to put it in his hand and =
he=E2=80=99s going to build Habitat for Humanity for you,=E2=80=9D =
Jablokov said. =E2=80=9CSometimes, you can=E2=80=99t foresee that =
<strong>Ted Bundy</strong> is going to be hitting people over the head =
with it.=E2=80=9D<br/><br/>It also requires improving communication and =
building trust=E2=80=94with the public, with the people building and =
deploying these systems, and with the systems themselves. When I first =
began reporting on A.I., I did so out of awe but also =
fear=E2=80=94because
the better you understand something, the less reason you have to be =
afraid. (As such, I can tell you quite a bit about the physics behind =
aviation.) I want to build that trust with you, too. After all, when it =
comes to A.I., it=E2=80=99s vital that everyone=E2=80=94regardless of =
their technical expertise=E2=80=94recognize that they have a very real =
stake in whatever happens next.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
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ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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g-top:32px;vertical-align:top;">
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class=3D"r" style=3D"padding-bottom:32px;width:100%;"><div =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdHMvdGhlLXBvd2Vycy10aGF0LWJlLz91dG1fY2FtcGFpZ249SWFuK0tyaWV0emJlcmc=
rV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYlMkYyNSUyOVx1MDAyNnV0=
bV9jb250ZW50PUlhbitLcmlldHpiZXJnK1dJSlArbm9uLUhpZGRlbitMYXllcistK0xFQURTK=
yUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV=
9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo2MTc1MTd9/422=
d1fdeaf928c299b13806ff20aadfe40f6adc03e6c16da518489a32e5f384c" =
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GF.png" style=3D"display:
block;height:auto;border:0;width:100%;" width=3D"552" alt=3D"The Powers =
That Be" title=3D"The Powers That Be" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r"><div =
style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Ari=
al&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">Join =
Emmy Award-winning journalist Peter Hamby, along with the team of expert =
journalists at Puck, as they let you in
on the conversations insiders are having across the four corners of =
power in America: Wall Street, Washington, Silicon Valley, and =
Hollywood. Presented in partnership with Audacy, new episodes publish =
daily, Monday through Friday.</p></div>
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ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYNGhQQnhNSVdwUTVZMkp0b3dobz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvdGhlLXZhcnNpdHkvP3V0bV9jYW1wYWlnbj1JYW4rS3JpZXR6YmVyZytXSUp=
QK25vbi1IaWRkZW4rTGF5ZXIrLStMRUFEUyslMjg3JTJGNiUyRjI1JTI5XHUwMDI2dXRtX2Nv=
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yUyRjYlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdX=
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0ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjc1NDg2NH0/ef2472c8=
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
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;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A =
professional-grade rundown on the business of sports from John Ourand, =
the industry=E2=80=99s preeminent journalist,
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href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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ktaW4taG9sbHl3b29kLXJlYWxpdHktdnMtc2NpZW5jZS1maWN0aW9uLz91dG1fY2FtcGFpZ24=
9SWFuK0tyaWV0emJlcmcrV0lKUCtub24tSGlkZGVuK0xheWVyKy0rTEVBRFMrJTI4NyUyRjYl=
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itMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2=
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style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
data-mce-attributes-count=3D"1" rel=3D"noopener">Hollywood=E2=80=99s =
A.I. Fireworks</a></h2>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r"><div =
style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">MATTHEW =
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</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
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cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;color:#000000;border-radius:0;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"41.666666666666664%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:16px;padding-left:24px;padding-right:16px;paddin=
g-top:16px;vertical-align:top;">
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"width:100%;padding-right:0px;padding-left:0px;"><div =
align=3D"center"><div class=3D"f" style=3D"max-width:210px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
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style=3D"display:block;height:auto;border:0;width:100%;" width=3D"210" =
alt=3D"London=E2=80=99s $43.5M Canaletto" title=3D"London=E2=80=99s =
$43.5M Canaletto" height=3D"auto"/></div></div>
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class=3D"r" =
style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000;direction:ltr;font-family:&#39;PuckSerifDisp=
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normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;mso-l=
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href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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style=3D"text-decoration:none;color:#d40000;" =
data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
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style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">JULIE =
BRENER DAVICH</p></div>
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width=3D"600"><tbody><tr><td class=3D"y o" width=3D"41.666666666666664%" =
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style=3D"padding-bottom:8px;text-align:center;width:100%;"><h2 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:&#39;PuckSerifD=
isplay&#39;,&#39;Georgia&#39;;font-size:32px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
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href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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UhpZGRlbitMYXllcistK0xFQURTKyUyODclMkY2JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
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style=3D"text-decoration:none;color:#d40000;" =
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r"><div =
style=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&=
#39;;font-size:14px;font-weight:700;letter-spacing:0px;line-height:1.2;te=
xt-align:left;mso-line-height-alt:17px;"><p style=3D"margin:0;">LAUREN =
SHERMAN</p></div>
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