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As many as seven <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-group" source="keywords">Adani group</keyword> stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="Adani-Power" source="keywords">Adani Power</keyword> dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of <keyword id="19963163" type="General" weightage="20" keywordseo="ACC" source="keywords" meta.keywordsubtype="org" meta.entityname="ACC" meta.hostid="261" meta.entityid="ACC">ACC</keyword> jumped 1.94 per cent, NDTV climbed 1.01 per cent and <keyword id="20057393" type="General" weightage="20" keywordseo="Ambuja-Cements" source="keywords" meta.keywordsubtype="org" meta.entityname="Ambuja Cements" meta.hostid="261" meta.entityid="Ambuja Cements">Ambuja Cements</keyword> (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 per cent), Adani Total (0.89 per cent), NDTV (0.57 per cent), Ambuja Cements (0.54 per cent) and ACC (0.46 per cent). Swiss authorities have frozen USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of money laundering probe, suspecting he may be a frontman from the Adani group -- a charge the conglomerate vehemently denied saying it was neither involved in any Swiss court proceedings nor any of its accounts are subject to sequestration. US-based short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="261" meta.entityid="Hindenburg Research">Hindenburg Research</keyword>, which had last year targeted the Adani group in a damning report that led to wiping away of USD 150 billion in market value of listed firms of the conglomerate in the following weeks, in a post on X cited "newly released Swiss criminal records reported by Swiss media outlet" to state that "Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021." "Prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius &amp; Bermuda funds that almost exclusively owned <keyword id="20372802" type="General" weightage="20" keywordseo="Adani-stocks" source="keywords">Adani stocks</keyword>," it said citing the report. Adani group rejected the allegations as baseless, saying it had no involvement in any Swiss court proceedings. "We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority," it said. The Swiss media outlet Gotham City in its report stated that a ruling by the Federal Criminal Court (FCC) reveals that the Geneva Public Prosecutor's Office was investigating alleged wrongdoing and more than USD 310 million belonging to an alleged frontman for billionaire <keyword id="19929098" type="General" weightage="20" keywordseo="Gautam-Adani" source="keywords">Gautam Adani</keyword> have been sequestered in five Swiss banks over the last three years. The Swiss investigators suspect that the associate, Chang Chung-Ling, is not the ultimate beneficial owner (UBO) of the company under investigation, but a mere front. The Adani Group, however, said that the court order was not linked to them and they have not been mentioned in it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/western-carriers-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113312196.cms">Western Carriers IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/pn-gadgil-jewellers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113302533.cms">PN Gadgil Jewellers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-is-already-cheaper-than-the-iphone-15-pro-in-india-but-you-can-get-it-for-up-to-30000-cheaper/articleshow/113220789.cms">iPhone 16 Pro is already cheaper than the iPhone 15 Pro in India, but you can get it for up to ₹30,000 cheaper</a>

Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

<ul class="summary-list"><li>Get ready to hear a whole lot more about effective accelerationism – (e/acc).</li><li>The obscure theory has a simple mission: fight against those slowing down tech's progress. </li></ul>If you aren't overflowing with dopamine at the mere thought of technology, AI, and innovation yet, there's a guy in Silicon Valley who wants to change that for you in 2024.Meet Beff Jezos (no, that's not a misspelling).Beff Jezos is several things. For one, he's an ex-Googler and physicist whose real-world name is Guillaume Verdon. More importantly, he's a founding member of the <a target="_blank" href="https://www.businessinsider.com/silicon-valley-tech-leaders-accelerationism-eacc-twitter-profiles-2023-7?r=US&amp;IR=T">effective accelerationism</a> movement.<a target="_blank" href="https://www.businessinsider.com/effective-accelerationism-humans-replaced-by-ai-2023-12?r=US&amp;IR=T">E/acc, as it's known online</a>, represents an obscure but growing movement that has made progress — specifically accelerated technological progress — its moral mission.To date, the movement has won over well-known figures in technology from billionaire venture capitalist <a target="_blank" href="https://www.businessinsider.com/marc-andreessen-manifesto-social-responsibility-esg-enemy-2023-10">Marc Andreessen</a> to Y Combinator CEO Garry Tan. Many of e/acc's proponents are venture capitalists, founders, and engineers who would happen to benefit financially from technology's accelerated progress.In an <a target="_blank" href="https://www.youtube.com/watch?v=8fEEbKJoNbU">episode of the Lex Fridman podcast</a> released last week, Verdon described his ambitions for e/acc: to have a "viral optimistic movement.""We're pushing for entropy, novelty, disruption, malleability, speed," he said.Silicon Valley has, of course, always been defined by its urge to innovate as fast as possible. It was Meta founder and CEO <a target="_blank" href="https://www.businessinsider.com/meta-mark-zuckerberg-new-values-move-fast-and-break-things-2022-2?r=US&amp;IR=T">Mark Zuckerberg </a>who made the "move fast and break things" mantra so popular.So why the need for e/acc now? In Verdon's view: Enemies of progress seem to be everywhere now, so it's time to fight them."We're trying to bring balance to the force, the forces of constraint versus the entropic force," he said. "We created this movement to bring balance."<h2>E/acc's enemies</h2>Silicon Valley leaders have grown increasingly vocal in recent years about forces — mostly social or governmental — that they see as being detrimental to growth and optimism.Take Elon Musk and one of his main bugbears: <a target="_blank" href="https://www.businessinsider.com/elon-musk-says-wading-into-politics-stop-woke-mind-virus-2022-5">the "woke mind virus."</a>Since <a target="_blank" href="https://www.businessinsider.com/did-elon-musk-buy-twitter-acquisition-details">his takeover of Twitter, now known as X</a>, the billionaire has been vocal about this catch-all phrase and his quest to eradicate it.Though Musk hasn't quite explained what he means by the "woke mind virus," it's clear that he thinks of it as something antithetical to progress, or his version of it.In an <a target="_blank" href="https://www.youtube.com/watch?v=qFEaTk--tZo">interview with Bill Maher last year</a>, for instance, he described it as anything that is "anti-meritocratic and results in the suppression of free speech." Elsewhere, he has folded in corporate focus on diversity, equity, and inclusion (DEI) as part of the "woke mind virus." He has also <a target="_blank" href="https://www.businessinsider.com/elon-musk-comments-relationship-transgender-daughter-vivian-jenna-2023-9?r=US&amp;IR=T">suggested his progressively-minded daughter</a>, who he says refuses to see him, has been infected by the virus.The self-described free speech tsar said <a target="_blank" href="https://x.com/elonmusk/status/1602278477234728960?s=20">"the woke mind virus is either defeated or nothing else matters,"</a> just a month after taking charge of Twitter.Now — Elon Musk has distanced himself from the e/acc movement, telling its fans that we "need to be carful [sic] with this stuff." But it's very clear that e/acc is a fan of Musk, and derives some of its philosophies and attitudes from his.<div type="image" title="elon musk" height="4001" width="6000" msid="106575404" hostid="261" sizebytes="760582"></div><a target="_blank" href="https://www.businessinsider.com/marc-andreessen-manifesto-slowing-down-on-ai-preventable-deaths-2023-10">Venture capitalist Marc Andreessen</a>, an investor in <a target="_blank" href="https://www.businessinsider.com/elon-musk-signal-messages-marc-andreessen-deal-making-twitter-investment-2022-9?r=US&amp;IR=T">Musk's deal to acquire X</a>, meanwhile penned a 5,000-word missive to address another kind of mental virus that he thinks has gotten in the way of progress this decade: "pessimism."In his <a target="_blank" href="https://a16z.com/the-techno-optimist-manifesto/">techno-optimism manifesto</a>, published in October, Andreessen suggested pessimism was an enemy facilitated by institutions through initiatives like "sustainability," "tech ethics," and "social responsibility.""Our enemy is stagnation. Our enemy is anti-merit, anti-ambition, anti-striving, anti-achievement, anti-greatness. Our enemy is statism, authoritarianism, collectivism, central planning, socialism. Our enemy is bureaucracy, vetocracy, gerontocracy, blind deference to tradition," he wrote.<h2>E/acc's first big hurdle</h2>One area of technology where e/acc adherents are trying to push forward is AI.Worries from academics, ethicists, journalists, and regulators about the safety of AI could kill something <a target="_blank" href="https://www.businessinsider.com/chatgpt-openai-moat-in-ai-wars-llama2-shrinking-2023-7?r=US&amp;IR=T">as significant as open-source AI</a>, they claim. They refer to these collective doubters disparagingly as "decels" — wanting to decelerate progress.In a <a target="_blank" href="https://x.com/pmarca/status/1742822276171800997?s=20">post on X on Thursday</a>, Andreessen, who at one time put "e/acc" in his bio, called out the "AI safety movement" for attempting an "astroturf" tactic in their attempt to get open-source large language models banned.Andreessen dinged Anthropic, whose Claude model rivals GPT-4 and which describes itself as an "AI safety company," for imposing what he saw as restrictive use terms on researchers and developers. It's unlikely that the e/acc movement will just linger on AI, however.Andreessen and co. have grown tired of what they saw as growing negativity towards progress, exacerbated by the pandemic, multiple wars, an economic crisis, and political uncertainty.Expect 2024 to be Silicon Valley's year of the e/acc positivity virus.

E/acc is Silicon Valley's response to all your negativity 

<ul class="summary-list"><li><a target="_blank" href="https://www.businessinsider.com/ai-dangers-effective-altruism-sam-altman-openai-2023-11">Disagreements over the speed of AI development</a> factored into Sam Altman's brief ousting at OpenAI.</li><li>It's highlighted a broader debate in Silicon Valley about how to approach artificial intelligence.</li></ul>Sam Altman's brief ousting as <a target="_blank" href="https://www.businessinsider.com/sam-altman-return-openai-ceo-2023-11">OpenAI CEO</a> didn't just thrust the company further into the global spotlight amid reported personality clashes. It's also highlighted a bigger ethical debate in Silicon Valley: how fast companies should move when pushing out AI technology.While Altman has spoken about the <a target="_blank" rel="" href="https://www.businessinsider.com/openai-chatgpt-sam-altman-world-not-far-potentially-scary-ai-2023-2">dangers of "potentially scary" AI</a> and the "critical" need to regulate it, he's been chiefly a poster child for rapid innovation. But others at the company have preferred to tread more carefully.And it's not just at <a target="_blank" href="https://www.businessinsider.com/openai-sam-altman-firing-what-happened-with-helen-toner-2023-12">OpenAI that people have butted heads</a>: it's now a top talking point across the tech industry. Broadly speaking, the debate lies in whether you think that moving full-speed ahead on AI technology will save the world or you think the industry needs to slow down. The big question: Are you an e/acc or a decel?<h2>So, what's an e/acc?</h2>Those who want to amp up AI progress identify as <a target="_blank" href="https://www.businessinsider.com/silicon-valley-tech-leaders-accelerationism-eacc-twitter-profiles-2023-7">effective accelerationists</a>, or e/accs ("ee-acks") if you've come across the label on social media.They believe that the forces of technology, innovation and capitalism should be harnessed to drive rapid social change.One key Silicon Valley backer of the idea is veteran venture capitalist <a target="_blank" href="https://www.businessinsider.com/techno-optimism-silicon-valley-controversial-new-philosophy-marc-andreessen-2023-10">Marc Andressen</a>. In a <a target="_blank" href="https://a16z.com/the-techno-optimist-manifesto/">5,000 word manifesto</a> published in October, he lauded the value of developing technology as fast as possible, saying that as developments in AI ramp up, "we are poised for an intelligence takeoff that will expand our capabilities to unimagined heights."Meantime, "any deceleration of AI will cost lives. Deaths that were preventable by the AI that was prevented from existing is a form of murder," he wrote.<h2>And what's a decel?</h2>Decels (a term that's broadly used critically) represent the other side of the debate, and have crossover with a field known as effective altruism, or EA.<a target="_blank" href="https://www.businessinsider.com/effective-altruism-how-started-how-its-going-after-ftx-collapse-2023-1">EA is a social movement</a> that looks at how resources should be allocated towards helping as many as possible — such as saving humanity in the face of existential risks like an AI apocalypse. It's claimed a swath of famous (and infamous) adherents from Elon Musk to Peter Thiel, as well as Sam Bankman-Fried.EA adherents have come to dominate the world of AI safety research — with two of the OpenAI board members who played a hand in Altman's ousting, <a target="_blank" href="https://www.businessinsider.com/openai-criticized-for-lack-of-diversity-on-board-2023-11">Helen Toner and Tasha McCauley</a>, identified with the movement (though in recent years, Toner has started distancing herself from EA, <a target="_blank" href="https://www.wsj.com/tech/ai/helen-toner-openai-board-2e4031ef">the Wall Street Journal reported</a>). Neither Toner nor McCauley responded to BI's request for comment. Both have left the board.<h2>How OpenAI's shakeup magnified the e/accs vs. decels debate</h2>In the days that followed Altman's brief ousting, investors, entrepreneurs, and techies aligned with the ideas of e/acc came out against EAs — a group they saw as responsible for the drama at OpenAI and slowing down technological progress."Effective altruism might be the villain a lot of us here should be focused on," Sriram Krishnan, general partner at venture firm Andreessen Horowitz wrote on X after Altman was ousted. However, in response to the online backlash about Altman's ousting, Toner wrote on November 29, "Though there has been speculation, we were not motivated by <a target="_blank" href="https://twitter.com/hlntnr/status/1730034017435586920">a desire to slow down OpenAI's work</a>."That's not to say there isn't a middle ground. Responsible Innovation Labs, a nonprofit, <a target="_blank" href="https://www.rilabs.org/news/responsible-ai-protocol-launch#:~:text=SAN%20FRANCISCO%2C%20November%2014%2C%202023,AI%20protocol%20specifically%20focused%20on">launched an AI protocol in November</a>, developed with support from the US Department of Commerce."If you haven't built responsibly and with trust you stand a high risk of wiping out your shareholders," said Gaurab Bansal, the executive director of Responsible Innovation Labs.His advice to Silicon Valley: "I would encourage any watchers of the industry to not get stuck in a divisive set of rhetoric."

How Sam Altman's OpenAI drama highlighted the debate splitting Silicon Valley: Are you an e/acc or decel?

Asian Cricket Council (<keyword id="6374289" type="General" weightage="80" keywordseo="acc" source="Orion">ACC</keyword>) on Thursday announced a hybrid model for the upcoming <keyword id="22687" type="General" weightage="50" keywordseo="asia-cup" source="Orion">Asia Cup</keyword> 2023, with <keyword id="3001" type="General" weightage="80" keywordseo="pakistan" source="Orion">Pakistan</keyword> set to host four matches out of 13, while the remaining nine games will be played in <keyword id="6355572" type="General" weightage="100" keywordseo="sri-lanka" source="Orion">Sri Lanka</keyword>. India, Pakistan, Sri Lanka, Bangladesh, Afghanistan, and Nepal will compete in 13 exciting <keyword id="40478" type="General" weightage="80" keywordseo="odi" source="Orion">ODI</keyword> matches from August 31 to September 17, 2023. ACC released an official statement to announce the dates and reveal that the competition will feature two groups, with two teams from each group qualifying for the Super Four stage. The top two teams from the Super Four stage will then face off in the final. "We are delighted to announce that the Asia Cup 2023 will be held from 31st to 17th September 2023 and will see the elite teams from India, Pakistan, Sri Lanka, Bangladesh, Afghanistan, and Nepal, compete in a total of 13 exciting ODI matches. The tournament will be hosted in a hybrid model with four matches being held in Pakistan, and the remaining nine matches being played in Sri Lanka," ACC announced in a statement. "The 2023 Edition will feature two groups, with two teams from each group qualifying for the Super Four stage. The top two teams from the Super Four stage will then face off in the final." "We look forward to welcoming fans from around the world to witness this celebration of cricket at its finest," it further read. As of now the venues and fixtures are yet to be revealed by the ACC. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/supertech-plans-to-raise-1600-crore-by-july-to-complete-18-ongoing-housing-projects-in-ncr-chairman/articleshow/101018985.cms">Supertech plans to raise ₹1,600 crore by July to complete 18 ongoing housing projects in NCR: Chairman</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/raptee-plans-to-invest-85-crore-in-its-chennai-manufacturing-facility/articleshow/101020026.cms">Raptee plans to invest ₹85 crore in its Chennai manufacturing facility</a>

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Majority of Adani group stocks settle lower; Adani Power drops nearly 3%

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E/acc is Silicon Valley's response to all your negativity

Hasan Chowdhury

How Sam Altman's OpenAI drama highlighted the debate splitting Silicon Valley: Are you an e/acc or decel?

Lakshmi Varanasi

Pakistan to host four games of Asia Cup 2023 out of 13, Sri Lanka get 9 matches in hybrid model

ANI

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