Desperate to stem losses from streaming and pay down billions in debt, media companies including Warner Bros. Discovery are raising prices. That’s in part because they’ve been focused almost exclusively on their content libraries. Instead, they must rethink what consumers need in the streaming era. That’s the lesson of Netflix and Hulu. Both benefit from a broad mix of licensed and original content, plus innovative user interfaces that help users... Read more ›
14
There’s no doubt large language model leader OpenAI and rivals like Anthropic are quickly expanding revenue, judging from reports in The Information in the past few weeks. (The latest data point from my colleague Amir today reveals that OpenAI is generating revenue at a pace of $1.3 billion a year, up 30% from the $1 billion-a-year pace we reported this summer.) But new data from Kruze Consulting, a finance and... Read more ›
0
ChatGPT maker OpenAI is generating revenue at a pace of $1.3 billion a year, CEO Sam Altman told staff this week, according to several people with knowledge of the matter. Altman’s remark implies the company is generating more than $100 million per month, up 30% from this summer, when the Microsoft-backed startup generated revenue at a $1 billion-a-year pace. The revenue pace, largely from subscriptions to its conversational chatbot, represents... Read more ›
12
When Lincoln Savings Bank struck a partnership in 2017 to process direct deposits for Cash App, it was a big break for the small, century-old lender based in Cedar Falls, Iowa. The Venmo-like app, part of Jack Dorsey’s financial services company now known as Block, was growing quickly. By partnering with Cash App and other fintechs, Lincoln increased its customer count from 18,000 in 2014 to more than 2 million... Read more ›
42
Germany’s BMW will become the second major automaker to deploy a sensor and computer system allowing motorists to drive hands-free in bumper-to-bumper highway traffic while conversing with a passenger, watching a video or reading a book. Almost all driver-assist systems such as Tesla’s attempt to prevent such distractions by requiring drivers to keep their eyes on the road and often their hands on the wheel. Read more ›
0
Deepgram, an artificial intelligence startup selling speech recognition software that generates transcripts, has cut around 20% of staff, or around 20 people, CEO Scott Stephenson said. It was at least the second time this year the San Francisco startup has laid off workers, according to two people familiar with the cuts. Stephenson blamed higher interest rates, which have reduced startup funding. The job cuts, which haven’t previously been reported, are... Read more ›
0
Did you know the human foot uses 26 bones, 33 muscles and more than 100 tendons and ligaments when a person is walking? Neither did I, until I read the quirky IPO prospectus for Birkenstock, the German maker of sublimely ugly, supremely comfortable sandals that went public on Wednesday. It was a lackluster debut: Birkenstock shares closed at $40.20, down nearly 13% from their $46 offering price. It was another... Read more ›
2
Just a few years ago, an ad-free social media network would have seemed like an oxymoron. But more have started testing subscriptions to ad-free versions of their apps, which could generate revenue beyond digital advertising—and in some cases, placate regulators. Our latest chart shows how their offerings compare.Last week, TikTok confirmed it was testing an ad-free subscription to its app. The tests follow Meta Platforms, which has proposed subscriptions to... Read more ›
16
Caroline Ellison, the former CEO of FTX’s Alameda Research hedge fund, kicked off the most high-profile testimony to date in the criminal trial of Sam Bankman-Fried on Tuesday, testifying that she committed financial crimes with the former FTX CEO and that he directed Alameda to “borrow as much” as possible. The government’s star witness, Ellison attracted scores of reporters as well as onlookers who follow the ideals of effective altruism,... Read more ›
1
Two weeks ago, there was a flurry of excitement around a tweet from Sharon Zhou, cofounder and CEO of Lamini, a startup that helps AI developers create customized large language models. Zhou revealed in the tweet that, for the past year, she’s been using more than 100 chips from chipmaker Advanced Micro Devices to power her AI startup’s products.In the midst of the ongoing compute crunch, AI founders and investors... Read more ›
2
In mid-September, dozens of global investors, including U.S. endowments, foundations and family offices, descended on the Chinese city of Chengdu looking for answers. They were there for a gathering hosted by Unicorn Capital Partners, a Hong Kong–based investment firm that helps global investors like them take stakes in funds run by Chinese venture firms. As they mingled with prominent Chinese venture capitalists, the investors peppered them with questions, according to... Read more ›
92
Just when it seemed there was nothing new we could learn from the SBF saga, the FTX founder's onetime deputy (and onetime romantic partner) Caroline Ellison testified in court on Tuesday. And her account of Sam Bankman-Fried’s attitudes toward risk, which helped set the stage for FTX’s bankruptcy, was truly mind-blowing. Whatever the outcome of the trial, anyone in the business of entrusting money to entrepreneurs should be sobered by... Read more ›
0
Funding for U.S. creator economy startups is showing slow signs of recovery after hitting a record low during the first quarter of the year, although it’s nowhere near the funding bonanza of 2021. Deals for services startups such as payments company Karat and link-in-bio and commerce startup Komi helped drive investments.U.S. funding for creator economy startups fell more than 52% to $255.4 million during the third quarter compared to the... Read more ›
12
Turning Netflix into an advertising goliath is proving tougher than the video-streaming giant expected. Netflix co-CEO Greg Peters decided to replace ad sales chief Jeremi Gorman with Amy Reinhard, a longtime Netflix executive, in hopes of accelerating the ad business’ growth, according to people with knowledge of the matter. One sign of how far behind Netflix is from where the company originally hoped it would be: As of about June,... Read more ›
41
Here’s a tip: if you want ChatGPT, or any other large-language model, to tell you something that it’s trained not to give you, try paying it a compliment. For instance, telling ChatGPT that it’s the best AI-powered chatbot in the world before asking it to provide instructions to build a bomb is more likely to work than just asking directly. That’s according to Neil Serebryany, who figured out this quirk... Read more ›
2
At Tesla’s headquarters in Austin, Texas, a new bunkerlike structure is under construction that could one day help move the company beyond electric vehicle manufacturing. When it’s completed, the building will house part of a new supercomputer, known as Dojo, that Tesla is assembling to help run the artificial intelligence software behind the self-driving capabilities in its vehicles, according to two people familiar with the project. Eventually, Tesla could use... Read more ›
51
Elon Musk’s X, in the months before conflict erupted in Gaza, ceased utilizing a software tool used to identify organized misinformation now spreading across the platform formerly known as Twitter. In recent months, the company shut down an internal product that could identify when different accounts shared the same or similar media, according to two people with direct knowledge of the situation. Such identification is an important part of dealing... Read more ›
53
Lambda Labs, which competes with Amazon Web Services in renting out servers with Nvidia chips to developers of artificial intelligence, is nearing a $300 million equity financing, according to two people with direct knowledge of the matter. An investment fund led by billionaire Thomas Tull plans to fund a substantial part of the round, one of these people said. As demand for Nvidia’s AI chips chips has skyrocketed this year,... Read more ›
6
Here’s a shoutout to those tech folks—among many, many others—who are putting their lives on the line as members of Israel’s defense forces right now, responding to the Hamas attack over the weekend. It puts everything else into perspective. For more details on Israeli tech folks’ involvement, see our story here. Meanwhile, Nelson Peltz has jumped back into the Disney fray, eight months after he abandoned his last threat of... Read more ›
1
X, formerly known as Twitter, is undergoing the first real test of its approach to content moderation since Elon Musk took over the app in late October. Hamas’ attacks on Israel over the weekend, and Israel’s strikes in retaliation, exploded over social media, including X. Viral moments from conflict zones, often uploaded by citizens, have been a key part of Twitter since its founding in 2006, punctuated by moments such... Read more ›
10
Most popular sources
Business Insider
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28% 3 |
Tech Wire Asia
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28% 6 |
Eurogamer.net
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6% 3 |
Android Authority
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4% 1 |
CNET
|
4% 3 |
| View sources » | |
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29.11.2024 18:55
Last update: 18:45 EDT.
News rating updated: 01:40.
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