A brief earnings update:
The Q4 results were very good, esp. profitability—adjusted EBITDA was much better then guided for.
The loss ratio of 77% was a huge improvement (12 pt. YoY), however I was expecting even better, perhaps 75% or less.
The main issue is relatively weak 2024 guidance. They expect to grow in-force premium (annualized insurance fees) about 26% by the end of the year. I was expecting much faster acceleration of the growth, closer to 35 or even 40%.
Another mild negative is their cautious communication about loss ratios in Q1 and Q2 (seasonality).
LMND is a small cap and therefore it’s a playground of traders and short seller. The stock is now down about −27% basically deleting the huge gains of the past two weeks. Classic “buy the rumor, sell the news” situation.
Given the slower planned growth there is perhaps less urgency in building a position. However the current price seems attractive long term.
TL;DR: GoodAI launched the Solving the AI Race round of the General AI Challenge. $15,000 in prizes are available for entering suggestions on how to mitigate the risks associated with a race to transformative AI.
They will be accepting submissions until 18 May 2018, and are asking participants to come up with detailed proposals of how to avoid AI research becoming a race where:
Key stakeholders, including developers, may ignore or underestimate safety procedures, or agreements, in favor of faster utilization
The fruits of the technology might not be shared by the majority of people to benefit humanity, but only by a selected few