Daily LInks
1. Shein says it was profitable in the first half of the year as U.S. IPO rumors swirl. “We recorded the highest H1 net profit in the company’s history, compared to a near break-even during the same period in 2022,” Tang wrote in the letter. “In particular, our continued momentum in the U.S. reinforces our leading position in the market.” – Read More on CNBC
2. What are global companies saying about China’s economy? LVMH logged a strong rebound in China during the second quarter, while EssilorLuxottica continued to benefit from a recovery in China in Q2. – Read More on Reuters
3. How the U.S. could squander its global AI lead. While America raced ahead in generative AI chatbots, Baidu’s Ernie bot and Alibaba’s Tongyi Qianwen only became available to mainland China users in recent weeks — partly because Beijing requires AI providers to submit their algorithms for government vetting. – Read More on Axios
4. The tricky truth about how generative AI uses your data. “Up until this point, tech companies have not done what they’re doing now with generative AI, which is to take everyone’s information and feed it into a product.” – Read More on Vox
5. RELATED READ: Google Sued for “Stealing” Vast Amounts of Consumer Data for AI Products. Google and its owner Alphabet are being sued over their alleged practice of “stealing” web-scraped data and “vast troves of private user data from [its] own products” in order to build commercial AI products. – Read More on TFL
6. What Happened to Victoria’s Secret? Victoria’s Secret is rebooting its fashion show after a four-year hiatus. The feature-film version of the show, launching this fall, takes on the role of rebranding the company after years of struggles. – See More on Bloomberg
