The term “social media” is beginning to be synonymous with “cesspool for children.” A Wall Street short seller’s report out today about Roblox, an online kids’ gaming service, painted a picture of a site you wouldn’t want your worst enemy to visit, let alone your children. It came the same day as attorneys general from a dozen states sued TikTok, alleging that the company designed the app to be addictive... Read more ›
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At the end of the last decade, one of the early ways investors and founders thought they could harness blockchain technology was to run prediction markets. Proponents believed blockchain would help ensure payouts to winners, without the need to find a bookie and argue over results. Those efforts largely failed because those sites were clunky to use and failed to attract enough users. But venture capitalists are newly excited about... Read more ›
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I’m delighted to be at The Information’s annual conference for women in media, tech and finance in Napa Valley. We’ve covered a lot of ground throughout the two-day event, ranging from artificial intelligence to the future of consumer and issues impacting young people.I heard one theme again and again: As the consumer market has gotten more crowded, that makes it increasingly harder for startups to stand out, so they have... Read more ›
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Brazil’s Supreme Court is lifting a suspension on Elon Musk’s X service in the country, Bloomberg reported, after Musk complied with the court’s demands. About a month ago, the Supreme Court had ordered internet service providers in Brazil to restrict access to X because the ... Read more ›
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Cerebras Systems is likely to postpone its initial public offering, Reuters reported on Tuesday, as a result of delays with the U.S. government’s review of United Arab Emirates’ tech conglomerate G42 investment into the company. The report comes just eight days after the AI chip maker ... Read more ›
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The U.S. Department of Justice doesn’t want Google to use its illegal monopoly in web search to also dominate the next version of search, which incorporates conversational artificial intelligence to provide answers rather than a list of links. But the head of Google’s search engine, Liz Reid, said a U.S. court ruling that Google engaged in anticompetitive behavior in search won’t change how it pursues improvements to the product, where... Read more ›
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Shein’s business in the U.K. reported $2 billion in revenue for 2023, according to a filing Tuesday. Shein did not disclose figures for the full year in 2022. The 2023 revenue was 38% higher than what Shein reported for a 16-month period from September 2021 to December 2022. Shein also reported ... Read more ›
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Attorneys general from 13 states and the District of Columbia sued TikTok on Tuesday, alleging that the company deliberately designed the app to be addictive to children. The lawsuits, which were filed separately in New York, the District of Columbia and 12 other states, are the latest in a ... Read more ›
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Hindenburg Research, a noted short-selling firm, says Roblox, a publicly traded online gaming company popular with children, repeatedly overstated individual user numbers and engagement metrics in communications with investors. The research firm has taken a short position in shares of Roblox and ... Read more ›
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The Amazon executive who oversaw its Just Walk Out cashierless checkout technology has left the company, an Amazon spokesperson confirmed. He is now the chief technology officer of the electric scooter and bike sharing company Lime, according to his LinkedIn profile. The executive, Jon Jenkins, ... Read more ›
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First off, check out my colleagues’ story this morning about how OpenAI is growing impatient with Microsoft’s ability to provide it with enough servers to run its technology, prompting OpenAI to take greater control of its own data center, chip and power planning.Onto today’s issue…Venture capitalists have recently funded half a dozen or so artificial intelligence startups concentrating on the AI field known as mechanistic interpretability (try saying that 10... Read more ›
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OpenAI and Microsoft soared to new heights by developing and sharing artificial intelligence, specialized servers and product revenue with each other. Microsoft’s cash has paid for nearly all of that work. After marching in lockstep, their relationship is changing. Last week, after OpenAI CEO Sam Altman and Chief Financial Officer Sarah Friar raised $6.6 billion in capital, mostly from a slew of financial firms, they told some employees OpenAI would... Read more ›
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Dave Clark, a former senior Amazon executive who oversaw the buildup of the commerce giant’s sprawling delivery operations, is launching a logistics software startup with $100 million in funding from investment firm Oak HC/FT. Clark’s next move had been a question mark for the logistics and retail tech world since he was ousted as CEO of venture-backed freight company Flexport last year. His new Bellevue, Wash.–based startup, Auger, will focus... Read more ›
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Amazon’s top human resources executive defended the company’s full return-to-office mandate announced last month, noting that young employees have been asking for in-office work to gain mentorship from their colleagues. The move to five days a week in-office is a return to Amazon’s pre-pandemic approach, where workers showed up in person but still had flexibility to attend to family and other matters, Beth Galetti, Amazon’s senior vice president of people... Read more ›
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Talk about an epic decision. Epic Games scored a huge victory in court on Monday, when the judge overseeing Epic’s antitrust case against Google essentially shattered the company’s Android app store monopoly. Among other things, the judge ruled that for the next three years, the tech giant can’t require developers to use only Google’s app payment methods. The judge also ruled that Google had to stop trying to block the... Read more ›
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Daniel Ho, a former senior Tesla executive who managed the launch of the Models 3, Y and Cybertruck, has joined Waymo as program director, he said in a LinkedIn post. Ho left Tesla in April at the same time CEO Elon Musk dismissed Rebecca Tinucci, head of Tesla’s Supercharger group and ... Read more ›
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FTX received approval from a U.S. bankruptcy court for its plan to fully repay customers plus interest, almost two years after the collapse of the crypto exchange. Thanks to rising crypto prices, FTX expects the total value of its assets, when converted to cash and available for distribution, ... Read more ›
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A federal judge in California took extraordinary actions to weaken Google’s Android app store, known as Google Play, after the company lost an antitrust trial late last year. App developer Epic Games filed the case. The judge, James Domato, ordered Google to stop requiring American Android app ... Read more ›
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Amazon has acquired MX Player, an Indian an ad-supported video streaming service, Amazon said Monday. The companies did not disclose the value of the deal, but TechCrunch reported it valued MX Player at less than $100 million. Amazon said it’s combining its own Indian ad-supported streaming ... Read more ›
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OpenAI closed out its big week of fundraising news with a rather understated product announcement: the release of Canvas, a new ChatGPT interface that makes it easier for users to draft documents and code.That might not sound like a big deal. But it has bigger implications for the company’s position in the AI race and its relationship with its customers than you might think.With Canvas, users can open up a... Read more ›
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24.11.2024 16:01
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