Grocery upstarts Instacart and Gopuff haven’t been able to deliver two things at once this year: growth and profits. Privately held Instacart disappointed some investors last week by reporting the number of grocery orders it facilitated declined by 2% in the first quarter from the same period last year, and was flat compared to last year’s fourth quarter, people familiar with the matter said. The company’s gross transaction volume—the amount... Read more ›
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After OpenAI’s ChatGPT took the world by storm six months ago, social media companies have been scrambling to join the cluster of tech giants integrating and adapting OpenAI's large language models or rival technology to their platforms to create conversational chatbots.Snapchat was the first to enter the fray, launching its My AI chatbot, which is based on OpenAI’s ChatGPT technology, in February for its paying Snapchat+ subscribers. The company then... Read more ›
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Meta Platforms has notified employees they will need to return to the office three days a week starting in September, according to a person familiar with the matter. The announcement, which has not been previously reported, marks the strictest policy change since it embraced remote work during the pandemic. While tech companies have met resistance from employees about such mandates in the past, leverage has swung to employers in the... Read more ›
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Welcome back,Amid all the hype for generative artificial intelligence, some venture capitalists have refused to join the fray. These young companies need so much capital and so much computing resources, the VC skeptics say, that they’ll have little chance of competing against Google, Amazon and other big tech companies that may soon have similar products.Our recent reporting this week was a reminder of how the internet giants are staking out... Read more ›
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OpenAI’s ChatGPT launched six months ago, igniting a boom in generative artificial intelligence. Since then, all manner of startups have emerged, building technology to compete with ChatGPT and developing services that use generative AI. Despite an otherwise cool funding environment, investors are jockeying to join the action. The most recent sign: The Information reported Wednesday that Google led a roughly $100 million round in video-generation company Runway. Runway is one... Read more ›
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One of the biggest open-ended questions in the tech world is whether Twitter is truly dying—and if it is, what will replace it. Last December, I argued that whatever came next might feel like Twitter in certain ways, but that ultimately there was probably no way to recapture the lightning in a bottle that was the infamous bird site. Six months later we’re a little closer to getting answers. The... Read more ›
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When Kevin Smyth learned in April that Goldman Sachs and Apple were offering a savings account with higher yields than anyone else, he jumped at the chance to shift money that was earning less at another online bank. But within a few weeks, when he had to withdraw a small portion of the funds to pay for a home renovation, everything went awry. A transaction that was supposed to take... Read more ›
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Nvidia’s business of selling chips for artificial intelligence is going gangbusters, but the company faces a looming problem. Its biggest customers—cloud providers including Microsoft, Google and Amazon—are making their own AI chips to reduce their reliance on Nvidia. In response, Nvidia is helping two upstart cloud providers whose ambitions don’t include developing their own AI chips. Nvidia has given the startups access to its latest graphics processing units, which the... Read more ›
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Congress appears poised to shrink a key obstacle to the creation of a competitive U.S. electric vehicle battery industry—the agonizing, often yearslong wait to obtain permits to mine for battery metals such as lithium and nickel. On Wednesday night, the House approved small but important changes to the permitting process as part of a bill to lift the federal debt ceiling. Now the Senate takes up the bill in the... Read more ›
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These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift profits is about as basic a concept as there is in business.... Read more ›
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Google is investing in Runway, a New York–based startup that lets customers generate video from text descriptions using artificial intelligence it pioneered, at a valuation of around $1.5 billion including the new capital, according to two people familiar with the matter. The investment, part of a roughly $100 million funding round, underscores the fierce competition among cloud providers to get close to companies with cutting-edge AI services that could become... Read more ›
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Over the past two years, I’ve interviewed dozens of creators. It’s very rare that I speak to one that hasn’t experienced burnout or a toll on their mental health, sometimes spurred by hateful comments, declining views, or simply the loneliness of working solo. Two recent creator suicides, of long-time influencer Heather Armstrong and TikTok dad Bobby Moudy, have trained a spotlight on creators’ mental health strains–and the startups trying to... Read more ›
1
In case you missed it, I scooped Tuesday that insiders at MoonPay, including its DJ-turned-CEO Ivan Soto-Wright, sold $150 million worth of shares in a secondary transaction as part of its $555 million November 2021 funding round. And a few weeks after the Series A announcement, Soto-Wright bought a $38 million Miami Beach estate that was previously owned by retired Miami Heat star Chris Bosh.It was one of the largest... Read more ›
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If Apple unveils its long-awaited mixed-reality headset next week as expected, it will represent the company’s riskiest gamble on a new product since the iPhone. It will also test the company’s prowess in design and manufacturing like nothing before. The headset is the most complicated hardware product Apple has ever created due to its unconventional curved shape, thinness and ultralight weight—which has resulted in an expected budget-busting price tag of... Read more ›
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Well that’s one way to get attention. According to a statement issued today by a bunch of leading names in AI, “mitigating the risk of extinction from AI should be a global priority.” Right. It’s hard to imagine anyone out there disagrees—who but the most extreme misanthrope wants to extinguish the human race? The question, then, is why the very people responsible for AI’s development are suggesting it should be... Read more ›
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Like most startups, gaming companies have seen interest from venture capitalists fall off sharply in the last year. But appetite is not completely dead. Investors have been backing those that prioritize creator-generated content and those that incorporate generative artificial intelligence—and sometimes both.Gaming startups raised $1.1 billion in 140 deals in the first quarter, according to a report out Tuesday from PitchBook, down 76% in dollar terms from a year ago... Read more ›
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Activist investor Legion Partners, which owns a stake in Twilio, has met several times with the company’s board of directors and management, urging them to make changes to the board and consider divestitures, among other moves, according to people familiar with the matter. The conversations come at a critical moment for the $11.5 billion communications software company. Its use of supervoting shares, which gives CEO and co-founder Jeff Lawson a... Read more ›
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In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service—announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management. There was more to the deal than met the eye. MoonPay raised... Read more ›
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The technology hype cycle would have us believe that the metaverse—so recently the darling of digital trendsetters—is on the decline, its place usurped by generative artificial intelligence. Yet this narrative, while superficially attractive, is a fiction. The truth is that emerging technologies are part of a synergistic ecosystem. Rather than heralding the demise of the metaverse, generative AI may well prove to be its catalyst, fueling accelerated development in extended... Read more ›
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Merger and acquisition activity has been anemic for more than a year, with buyers and sellers often far apart on price after valuations have taken a beating. But one corner of the M&A market has held up much better than others during the doldrums: the sale of companies owned by a founder with neither venture capital nor private equity backers. The number of deals of that type declined just 5.7%... Read more ›
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05.04.2026 14:41
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