Adobe left with a big gap as $20 billion Figma deal falls through

Posted on December 18, 2023 by Igor Mitreski

Adobe and Figma ended their $20 billion takeover dream this morning after regulators signaled tough times ahead. Figma still receives a $1 billion stipend as part of the deal, and as co-design lead, he should stand up well.

But it could be a different story for Adobe. They knew that the product they offered to compete with this company, XD, was not very strong, and they really wanted this company. They sought to use their corporate influence to seize advantageous aspects of their core creator businesses by acquiring market leaders.

But ultimately, the regulatory hurdles proved too much for them, and after more than a year of back and forth in regulatory meetings, both companies realized it wasn’t going to happen and decided to exit. decided.

Adobe put on a brave face their official statement, but I can’t help but be deeply disappointed with this result. “Adobe and Figma have shared a vision to jointly redefine the future of creativity and productivity, and we continue to leverage the huge market opportunity and mission to change the world through personalized digital experiences. We remain in a good position to do so.”

It’s not clear that Adobe could be in such a strong position without Figma, but it’s certainly true that Adobe is willing to pay a hefty price to have it under its wing. They were never able to convince regulators that this was not a blatant power grab by wealthy corporations to use their economic clout to take over the market.

Margrethe Vestager, the EU’s chief executive officer for competition, has made it clear that she believes this is just such an attempt. her official statement. “By merging these two companies, the proposed acquisition would end all current and stop all future competition between the two companies. Our thorough investigation shows that this We found that this could lead to higher prices, lower quality, or less choice for customers.”

Ray Wang, founder and principal analyst at Constellation Research, says this is a major setback for Adobe, forcing it to return to its design collaboration tool, XD. “Adobe realized that in a world of Generative AI, the value is not in content creation, but in coordinating the work of content. This deal takes Adobe back two years and expands the reach of this important market. “This will give us an incentive to revamp XD to cover this,” he said.

Adobe General Counsel Dana Rao told TechCrunch in October that the company has largely dismantled its XD team and is fully committed to meeting its product needs with Figma. “We tried to get in there [collaborative design] I used XD but it failed. We abandoned the product. Basically, our annual revenue never exceeded $15 million to $17 million. “I think he’s down to five full-time employees, but they continue to work according to their contractual requirements,” he said. “So if we’re going to get into the product design space, for us it’s going to be acquiring Figma,” he said at the time.

On the plus side, the company now has a lot of cash on hand that it wouldn’t have had had the deal gone through, and it could probably put it to better use in a post-generation AI world. Brent Leary says. Co-founder and Partner of CRM Essentials. “This deal was announced before ChatGPT, and the world has changed dramatically since then. And this could mean that Adobe could take back his $20 billion and adjust and shape the content creation process post-ChatGPT.” It might actually work better because of its gender,” he said.

Wang said the company may also consider acquiring other collaboration startups such as Milo, web flow or invision, which raised $476 million, $335 million, and $356 million, respectively (according to Crunchbase data). None of this would make him a perfect successor to Figma, but perhaps he could give the company a head start in the collaboration space without the kind of scrutiny it received in the Figma acquisition attempt. Sho.

Figma, for its part, hasn’t stopped since this deal was announced, moving forward and planning as an independent company. In fact, this startup has employed 500 people since September 2022. Additionally, we have developed new features including tools. For developers And we have a generative AI layer on top of the popular FigJam whiteboard tool.

John Lilly, an early investor in Figma, said he was enthusiastic about the company remaining independent. “This team is a very special team. Over the last 10 years, they have completely changed the way design works. And this market for designing products is much larger and growing faster.” Lilly told TechCrunch.

If he’s right, that’s exactly why Adobe wanted to buy the company. Now, with Figma continuing to operate on its own and a startup full of the same potential it had before the acquisition was announced in September 2022, Adobe will need to rethink its design collaboration strategy, and perhaps at this point You basically have to start from scratch, not in the position you were in.

Source: techcrunch.com

OpenAI enhances safety measures and grants board veto authority over risky AI developments

Posted on December 18, 2023 by Igor Mitreski

OpenAI is expanding its internal safety processes to prevent harmful AI threats. The new “Safety Advisory Group” will sit above the technical team and will make recommendations to management, with the board having a veto right, but of course whether or not they actually exercise it is entirely up to them. This is a problem.

There is usually no need to report on the details of such policies. In reality, the flow of functions and responsibilities is unclear, and many meetings take place behind closed doors, with little visibility to outsiders. Perhaps this is the case, but given recent leadership struggles and the evolving AI risk debate, it’s important to consider how the world’s leading AI development companies are approaching safety considerations. there is.

new document and blog postOpenAI is discussing its latest “preparation framework,” but this framework is based on two of the most “decelerationist” members of the board, Ilya Satskeva (whose role has changed somewhat and is still with the company). After the reorganization in November when Helen was removed, Toner seems to have been slightly remodeled (completely gone).

The main purpose of the update appears to be to provide a clear path for identifying “catastrophic” risks inherent in models under development, analyzing them, and deciding how to deal with them. They define it as:

A catastrophic risk is a risk that could result in hundreds of billions of dollars in economic damage or serious harm or death to a large number of individuals. This includes, but is not limited to, existential risks.

(Existential risks are of the “rise of the machines” type.)

Production models are managed by the “Safety Systems” team. This is for example against organized abuse of ChatGPT, which can be mitigated through API limits and adjustments. Frontier models under development are joined by a “preparation” team that attempts to identify and quantify risks before the model is released. And then there’s the “superalignment” team, working on theoretical guide rails for a “superintelligent” model, but I don’t know if we’re anywhere near that.

The first two categories are real, not fictional, and have relatively easy-to-understand rubrics. Their team focuses on cyber security, “persuasion” (e.g. disinformation), model autonomy (i.e. acting on its own), CBRN (chemical, biological, radiological, nuclear threats, e.g. novel pathogens), We evaluate each model based on four risk categories: ).

Various mitigation measures are envisaged. For example, we might reasonably refrain from explaining the manufacturing process for napalm or pipe bombs. If a model is rated as having a “high” risk after considering known mitigations, it cannot be deployed. Additionally, if a model has a “severe” risk, it will not be developed further.

An example of assessing model risk using OpenAI’s rubric.

These risk levels are actually documented in the framework, in case you’re wondering whether they should be left to the discretion of engineers and product managers.

For example, in its most practical cybersecurity section, “increasing operator productivity in critical cyber operational tasks by a certain factor” is a “medium” risk. The high-risk model, on the other hand, would “identify and develop proofs of concept for high-value exploits against hardened targets without human intervention.” Importantly, “the model is able to devise and execute new end-to-end strategies for cyberattacks against hardened targets, given only high-level desired objectives.” Obviously, we don’t want to put it out there (although it could sell for a good amount of money).

I asked OpenAI about how these categories are being defined and refined, and whether new risks like photorealistic fake videos of people fall into “persuasion” or new categories, for example. I asked for details. We will update this post if we receive a response.

Therefore, only medium and high risks are acceptable in any case. However, the people creating these models are not necessarily the best people to evaluate and recommend them. To that end, OpenAI has established a cross-functional safety advisory group at the top of its technical ranks to review the boffin’s report and make recommendations that include a more advanced perspective. The hope is that this will uncover some “unknown unknowns” (so they say), but by their very nature they’ll be pretty hard to catch.

This process requires sending these recommendations to the board and management at the same time. We understand this to mean his CEO Sam Altman, his CTO Mira Murati, and his lieutenants. Management decides whether to ship or refrigerate, but the board can override that decision.

The hope is that this will avoid high-risk products and processes being greenlit without board knowledge or approval, as was rumored to have happened before the big drama. Of course, the result of the above drama is that two of the more critical voices have been sidelined, and some money-minded people who are smart but are not AI experts (Brett Taylor and Larry・Summers) was appointed.

If a panel of experts makes a recommendation and the CEO makes a decision based on that information, will this friendly board really feel empowered to disagree with them and pump the brakes? If so, do we hear about it? Transparency isn’t really addressed, other than OpenAI’s promise to have an independent third party audit it.

Suppose a model is developed that guarantees a “critical” risk category. OpenAI has been unashamedly vocal about this kind of thing in the past. Talking about how powerful your model is that you refuse to release it is great advertising. But if the risk is so real and OpenAI is so concerned about it, is there any guarantee that this will happen? Maybe it’s a bad idea. But it’s not really mentioned either way.

Source: techcrunch.com

TikTok introduces upgraded app experience for tablets and foldable devices

Posted on December 18, 2023 by Igor Mitreski

TikTok has rolled out updates that enhance the app experience for viewers on tablets and foldable devices, the company announced Monday. The app has been optimized for larger screens, so viewers can now experience a crisper video feed, streamlined navigation bar, and orientation support.

With the new update, users will see a polished video feed that “presents content more clearly.” Additionally, navigation bars at the top and bottom of the screen provide easy access to app features and tabs.

The app now works in landscape or portrait orientation. Today’s announcement comes a year after TikTok began testing horizontal full-screen mode on mobile worldwide. TikTok is already pushing further into YouTube territory by rolling out landscape mode on larger devices and supporting longer videos. The company’s support of long-form content makes it sensible to enhance the viewing experience for users watching things like cooking demos and beauty tutorials on tablets. The company hopes this new mode will persuade people who normally watch YouTube on their tablets to spend their time on TikTok instead.

“While most people already know and love TikTok on their mobile devices, we know that many people prefer accessing TikTok on larger screens and foldable devices,” the company said in a blog post. “Whether you’re looking for the latest cooking trends or searching for the latest soccer highlights, we’re excited to share that TikTok is now even more optimized for tablets and foldable gadgets.”

TikTok’s optimization for foldables and tablets comes at a time when one of its main competitors, Instagram, still lacks an iPad app. By rolling out updates to its app experience on larger devices, TikTok can surpass its mobile-first approach at a time when competitors are still lagging behind.

Source: techcrunch.com

VF Corp., owner of Vans and Supreme, reports stolen personal information and affected orders in alleged ransomware attack

Posted on December 18, 2023 by Igor Mitreski

US-based VF Corporation, which owns apparel brands such as Vans, Supreme and The North Face, said a cyberattack affected its ability to fulfill orders ahead of Christmas, one of the year’s biggest retail events. admitted that he had caused it.

A company based in Denver, Colorado said in a filing with federal regulators. The cyberattack, which the company first detected on December 13, was a ransom attack in which hackers “disrupted the company’s operations by encrypting some IT systems and stole data, including personal data, from the company.” It was said that it was hinting at a software attack.

As a result, the company says its operations continue to be disrupted, including its “ability to fulfill orders.”

When TechCrunch tried to place an order on Vans’ website, he was greeted with the following message: You will be notified by email when your item is shipped and can track it with the sender. ”

VF Corporation said in a filing that the retail stores it operates around the world are open and consumers can purchase available products online. It is unclear when orders will be shipped, and a company spokesperson did not provide a timeline.

VF Corp. spokesperson Colin Wheeler provided TechCrunch via email with a statement reflecting the company’s regulatory filings. The company did not respond to TechCrunch’s questions about the incident. Reveal whether the company received a ransom demand from hackers.

The company has not yet disclosed how it was breached, what type of data was accessed, or how many individuals were affected by the breach, including employees, customers, or both. . It’s also unclear who is behind the attack, with the ransomware group being tracked yet to claim responsibility.

VF Corp. warned in a regulatory filing that the cyberattack would have a “significant impact” on its business until its systems are restored. “As the investigation into the incident is ongoing, the full scope, nature and impact of the incident is not yet known,” the filing states.

VF Corp disclosed the incident on the same day that the U.S. Securities and Exchange Commission’s new data breach disclosure rules went into effect. This regulation means that organizations must report cybersecurity incidents, including data breaches, to federal securities regulators. within 4 business days.

Source: techcrunch.com

The Emergence of Extortion as a Growing Ransomware Threat

Posted on December 18, 2023 by Igor Mitreski

Cyber criminals are Their efforts to maximize disruption and force payment of ransom demands have become more aggressive and new extortion tactics are now being implemented.

In early November, the notorious ALPHV ransomware gang, also known as BlackCat, used an unprecedented extortion tactic, weaponizing the U.S. government’s new data breach disclosure rules against one of the gang’s own victims. I tried. ALPHV has filed a complaint with the U.S. Securities and Exchange Commission (SEC), alleging that digital lending provider MeridianLink failed to disclose what the gang calls a “significant breach of customer data and operational information.” did. The gang took the credit..

“We would like to draw your attention to a concerning issue regarding MeridianLink’s compliance with the recently adopted Cybersecurity Incident Disclosure Regulations,” ALPHV wrote. “We are aware that MeridianLink has failed to file the required disclosures under Item 1.05 of Form 8-K within the required four business days, as required by new SEC rules.”

ALPHV’s latest extortion campaign is the first of what is expected to be a trend in the coming months after the rule goes into effect. Although novel, this is not the only aggressive tactic used by ransomware and extortion gangs.

Hackers, typically known for deploying ransomware, are increasingly resorting to “double extortion” tactics, where in addition to encrypting a victim’s data, they also threaten to release stolen files if a ransom demand is not paid. We are transitioning. Some people go further with “.”triple “Extortion” attack. As the name suggests, hackers use her three-pronged approach to extort money from victims by extending blackmail and ransom demands to the original victim’s customers, suppliers, and associates. To do. These tactics have been used by the hackers behind the widespread MOVEit mass hack, marking a significant milestone in the trend of extortion attempts that do not use encryption.

While vague definitions may not seem like the biggest cybersecurity issue facing organizations today, the distinction between ransomware and extortion is important. Especially since defenses against these two types of cyberattacks can be very different. This distinction also helps policy makers learn what ransomware trends are and whether anti-ransomware policies are working.

What is the difference between ransomware and extortion?

Ransomware Task Force I will explain Ransomware is “an evolving form of cybercrime in which criminals remotely infiltrate computer systems and either restore data or demand a ransom in exchange for not releasing the data.”

In reality, ransomware attacks can have far-reaching effects. In an analysis with TechCrunch, ransomware experts Allan Liska, a threat intelligence analyst at Recorded Future, and Brett Callow, a threat analyst at Emsisoft, explained that ransomware, broadly defined, is a collection of content on an insecure Elasticsearch instance. From a “$50 attack” to a devastating “encryption-based attack that poses a life threat to hospitals”.

“But obviously they’re very different animals,” Liska and Callow said. “One is an opportunistic porch pirate who steals Amazon deliveries, and the other is a team of thugs who break into homes, terrorize families, and take away all their possessions.”

Researchers say there are similarities between “encryption and extortion” attacks and “extortion-only attacks,” including their reliance on brokers selling access to compromised networks. But there are also important differences between the two, especially when it comes to victim clients, vendors, and customers, whose own sensitive data may be caught up in an extortion-only attack.

“We’ve seen this play out repeatedly, where attackers organize stolen data to find the largest or most well-known organizations and launch attacks against them. “This is not a new tactic,” Liska and Callow said, noting that one ransomware group claims to have hacked a major technology company, when in fact it hacked a little-known technology vendor. He gave an example of data theft.

“Preventing attackers from encrypting files on your network is one thing, but how do you protect the entire data supply chain?” Liska and Callow said. “In fact, many organizations don’t think about their data supply chain… yet each point in that supply chain is vulnerable to data theft and extortion attacks.”

We need a more precise definition of ransomware

Authorities have long prevented hacked organizations from paying ransom demands, but it’s not always an easy decision for companies victimized by hackers.

In encryption and extortion attacks, companies have the option of paying a ransom demand to obtain the key to decrypt their files. However, if you pay a hacker using aggressive extortion tactics to delete your stolen files, there is no guarantee that the hacker will actually delete them.

This was demonstrated in the recent ransomware attack on Caesars Entertainment, which rewarded hackers in an effort to prevent the release of stolen data. In its own admission, Caesars told regulators that it had “taken steps to ensure that the data stolen by the wrongdoers is deleted, but we cannot guarantee the outcome.”

“In fact, we should assume they won’t do that,” Liska and Callow said, referring to claims that the hackers would delete the data they stole.

“With a better definition of ransomware that accounts for the distinction between different types of attacks, organizations should be able to identify any type of ransomware, whether it occurs within their own network or a third-party network. We will be able to better plan and respond to Were attacks, Liska and Callow said.

Source: techcrunch.com

Previewing the 2024 Early-Stage Agenda: Engine Accelerator, Y Combinator, Glasswing Ventures and Others Head to Boston – TechCrunch

Posted on December 18, 2023 by Igor Mitreski

TechCrunch Early Stage returns to Boston on April 25, 2024, and the agenda for our flagship Founders event is taking shape. We’re excited to give you a sneak peek at some of the amazing speakers and sessions we’ll be attending. For builders just starting their startup journey, TechCrunch Early Stage is the place to be.

With the help of a large body of leading investors and entrepreneurs, we take a deep dive into founder-focused topics such as:

How to use Startup Accelerator.
How to raise your first funding.
How to find product-market fit.
How to make a killer pitch deck.

But wait. In addition: Want to join us for more speakers and sessions announced in the new year? Apply for content by the January 10th deadline for a chance to win a roundtable slot on TechCrunch Early Stage there is.

Early Stage is different from other TechCrunch events. Instead of panel discussions or fireside chats, speakers present on their assigned topics and answer questions from the audience. If you’re building something and want access to the brains of top startups, we’re working around the clock to introduce them to you. As always, all attendees will receive a transcript and visual assets of the presentation so they can take away what they learned.

Also, if you’re a talkative type, you’ll enjoy roundtable discussions and lots of time interacting with other founders, builders, and investors.

You’ll have a lot of questions in the early stages, and we’re here to answer them. Please come to my favorite TechCrunch event in Boston on April 25th. It’s similar to Disrupt, but incredibly focused and much more intimate. See you soon!

TechCrunch 2024 Early Agenda Preview

Working hard for $1 million in ARR: Best practices for learning fast from your launch partner

and Rudina Cecelico-founder and managing partner, glasswing ventures

Once you secure a seed round, the race begins to prove product-market fit and grow your ARR (Annual Recurring Revenue). With the clock ticking, limited seed dollars, a difficult macroeconomic environment, and the bar rising to secure the next round, founders’ margin for error is slim and execution is critical. In this session, we’ll dive into the best practices for rapidly iterating on lessons learned from launch partners (such as early customers). Learn how to ask the right questions, get actionable answers, respond effectively, and avoid idleness at this critical juncture in your company’s growth.

Choosing the right accelerator or incubator

and emily knightpresident, engine accelerator

Incubators and accelerators often provide a support structure for early-stage startups. Founders transitioning from academia often seek assistance in defining the potential commercial viability of their research, so specific programs are often tailored to their unique needs. Founders from academia face unique challenges stemming from higher education and national research institutions. Choosing the right startup program can help young companies navigate the known hurdles of founding. Here’s what you need to know today.

5 ways to ruin your VC pitch and how to avoid it

and Haje Kampspitch coach, Kamps Consulting LLC

Whether you’re just staring at a blank slide deck or fine-tuning your pitch, this can’t-miss session will provide you with valuable insights and help you avoid some of the biggest pitfalls. Haje Kamps, TechCrunch’s friendly in-house pitch coach, writes his 75+ pitch deck deconstruction articles on TechCrunch+. He is a source of knowledge in the art of pitching early stage startups to venture capitalists. With Haje’s expertise in analyzing and enhancing pitch decks, this session promises to be a treasure trove of practical advice and strategies.

How to earn money and live

and Tom Bromfieldgroup partners, Y combinator

Raising money in the first round is tricky. Especially if you don’t want to look back years from now and regret your terms of service or side letters. In this session, Tom explains how investors think, common pitfalls that may come up later, and how to put your company in the strongest possible position to raise capital. After all, who would want to participate in his game of 2024 fundraising hanger with old information?

Early stage financing: convertible notes, SAFE, series seed financing

and rebecca lee whitingFounder and Fractional General Counsel, epigram legal

Learn from early-stage fractional general counsel about various financing mechanisms for early-stage companies, including convertible notes, simplified agreements for future equity (SAFE), and series seed financing rounds. This session will highlight the pros and cons of these alternatives, demystify standard terms, highlight potential pitfalls to avoid, and suggest key points to consider when negotiating.

TechCrunch Early Stage 2024 will be held in Boston on April 25th. Join other emerging founders and bring your questions, get answers directly from industry experts, and learn the next steps you need to take to build your startup. But if you buy your pass now, you’ll save at the launch price!

Is your company interested in sponsoring or exhibiting at TechCrunch Early Stage 2024? Contact our sponsorship sales team. Please fill out this form.

Source: techcrunch.com

The Essential Handbook for Ethical and Responsible AI Governance

Posted on December 18, 2023 by Igor Mitreski

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Content Rewrite

Pani Dasari Hinduja Global Solutions (HGS) is a global company specializing in digitally-driven customer experiences for hundreds of world-class brands. Fani has over 18 years of experience across areas such as governance, risk, compliance, client security management, data privacy and regulatory compliance, among others.

Rapid progress in Artificial intelligence (AI) technology, fueled by breakthrough advances in machine learning (ML) and data management, has propelled organizations into a new era of innovation and automation. AI applications continue to proliferate across industries and are expected to revolutionize the customer experience, optimize operational efficiency, and streamline business processes. However, this transformation journey comes with an important caveat: the need for robust AI governance.

In recent years, concerns about ethical, fair, and responsible AI deployment have become prominent, highlighting the need for strategic oversight throughout the AI lifecycle.

Rise of AI applications and ethical concerns

The proliferation of AI and ML applications is a hallmark of recent technological advances. Organizations are increasingly recognizing the potential of AI to improve customer experiences, revolutionize business processes, and streamline operations. However, this surge in AI adoption is raising concerns about the ethical, transparent, and responsible use of these technologies. As AI systems take on decision-making roles traditionally performed by humans, questions about bias, fairness, accountability, and potential social impact are looming large.

The imperative of AI governance

As AI systems take on decision-making roles traditionally held by humans, questions about bias, fairness, accountability, and potential social impact are looming large. AI governance has emerged as a cornerstone of responsible and trustworthy AI adoption. Organizations must proactively manage the entire AI lifecycle, from conception to deployment, to mitigate unintended consequences that can damage their reputation and, more importantly, harm individuals and society. The need to do it. A strong ethical and risk management framework is essential to navigating the complex landscape of AI applications.

The World Economic Forum defines responsible AI as the practice of designing, building, and deploying AI systems in ways that empower individuals and businesses while ensuring a fair impact on customers and society. It summarizes the essence. This philosophy serves as a guide for organizations looking to establish trust and scale their AI initiatives with confidence.

Key components of AI governance

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Source: techcrunch.com

ServiceNow to further explore task mining through recent acquisition

Posted on December 18, 2023 by Igor Mitreski

ServiceNow announced this morning It is said that it is acquiring a Czech task mining company. Ultimate Suite This gives companies new ways to see and understand the flow of work in their business. The companies haven’t disclosed the price, but the three-year-old startup has raised 768,000 euros (about $839,000), so it’s probably not that big of a deal.

Task mining is part of process mining, a growing global market that helps companies understand the flow of work within an organization, look for bottlenecks, and increase efficiency. please consider that selonis, one of the leading startups in this space, has raised $2.4 billion and is valued at $13 billion as of October 2022. Ultimate Suite is substantially smaller, having raised less than $1 million, but it provides another tool to ServiceNow’s task mining arsenal, says Eduardo, ServiceNow’s vice president and general manager of process mining. His manager is Mr. Chiocconi.

Before acquiring Ultimate Suite, the company had the ability to drill down into workflows, but not down to the user task level. “And when we investigated and discovered where certain inefficiencies were, we lacked the ability to inspect or understand what individual users were doing. , that’s exactly what Ultimate Suite Task Mining is here to help us with,” Chiocconi told his TechCrunch.

He says the goal is actually to build more efficient business processes, and the addition of Ultimate Suite gives them more capabilities to do that. “Insights without action are of little value, so once we find out exactly what needs to be fixed, we also have the ability to automate some of the inefficiencies for end-to-end efficiency.” The idea is to offer it on the same platform. Finish the business process.”

The plan is to integrate Ultimate Suite’s functionality with ServiceNow’s process mining capabilities. “If you look at how ServiceNow has made acquisitions in the past, we pride ourselves on organically building these capabilities into our integrated platform,” Chiocconi said. This means that it will no longer be sold as a separate product. “Our overall objective is to re-platform all of this IP and create more value for our customers by learning how it can be derived from Ultimate Suite and surface as an organic extension of process mining. to bring about.”

This is ServiceNow’s third acquisition related to AI and automation in the past few years. Get AI-powered workflow tools G2K in May This year, and at the end of 2020, Canadian startup Element AI joined us.

Source: techcrunch.com

European Regulatory Challenges Lead to Cancelation of $20 Billion Adobe and Figma Acquisition Plan

Posted on December 18, 2023 by Igor Mitreski

Adobe finally makes a huge $20 billion bid to acquire rival Figma officially deadThis comes after the companies announced today that their acquisition plans had been scrapped due to regulatory pushback in Europe.

The deal, first announced last September, has always attracted regulatory scrutiny due to its size and the fact that it removed one of Adobe’s major rivals from the shadows. Ta. The U.S. Department of Justice (DoJ) Take a closer look at the transaction For the most part in 2023, news has not yet been filed to prevent the deal from happening. Appeared Before the weekend, Adobe and Figma had met with the Department of Justice in a last-ditch effort to avoid legal action.

Regardless, both companies were already facing significant headwinds in Europe. In late November, the UK announced that the proposed acquisitionharm innovation”, following similar findings in the European Union (EU), which announced a similar course of action in August.

The core of the concern is that Figma is the “clear market leader” in interactive product design tools and acts as a “constraining influence” on Adobe in the digital asset creation tools space. was. Therefore, if Adobe acquires Figma, Figma is a “valid competitor.”

in Today’s blog postFigma CEO and co-founder Dylan Field said the “co-decision” was reached because the two companies were unable to convince regulators of the differences between their products and businesses.

“This is not the outcome we were hoping for, despite spending thousands of hours with regulators around the world detailing the differences between our business, our products, and the markets we serve. We no longer see a path forward for regulatory approval of this transaction,” Field said.

This is a developing story.Please update the latest information.

Source: techcrunch.com

IBM’s $2.3 billion acquisition of StreamSets and WebMethods from Software AG

Posted on December 18, 2023 by Igor Mitreski

IBM is distributing two data integration assets from Germany-based enterprise software company Software AG for 2.13 billion euros ($2.3 billion).

The all-cash transaction will see IBM take ownership. stream set Data integration platform acquired by Software AG just last year and WebMethods, acquired by Software AG for more than $500 million back in 2007.

It’s worth noting that Software AG itself was acquired by Silver Lake earlier this year, obtaining majority ownership of 63% before raising the investment amount to $2.4 billion, 85% or more during September. Silver Lake today just bought it. It owns 93% of Software AG, which will soon be delisted from the public market.

integrated

For IBM, the purchase of Software AG’s Integration Platform-as-a-Service (IPAAS) toolset fits into a broader commitment to hybrid cloud that the company has strengthened over the years with a series of major acquisitions. Includes the company’s $34 acquisition in 2018 of Red Hat for $1 billion and most recently its $4.6 billion acquisition of Apptio in June.

Although cloud computing offers many benefits to enterprises, vendor lock-in and aversion to a single cloud environment are increasing, leading to a more hybrid approach, one that relies on local on-premises infrastructure for security and low-latency purposes. A potentially dependent approach is required. Leverage one or more public cloud providers for specific resources as needed.

However, this means you need to manage and process data that may be stored in a variety of applications, both on-premises and across multiple private or public clouds. And this is where data integration systems come in, allowing companies to build pipelines that can pool data regardless of its location or format.

And this is effectively what IBM is buying with StreamSets and WebMethods: technology that spans the various layers that make up application and data integration, including API management, which WebMethods specifically provides.

Data is also the foundation of AI, and like almost every business today, IBM has been upping its AI game lately. In fact, this year the company introduced a new data science platform called Watsonx. It provides tools to build and deploy AI and manage all your data sources in one platform. And this is where IBM’s two acquisitions will come into play.

“Together with IBM’s Watsonx AI and data platform and its application modernization, data fabric, and IT automation products, StreamSets and webMethods help clients realize the full potential of their applications and data.” IBM said. Rob Thomas, Senior Vice President and Chief Commercial Officer of Software, said in a press release.

Source: techcrunch.com

Verdane invests $65 million in media monitoring startup Meltwater

Posted on December 18, 2023 by Igor Mitreski

melt waterwhich first made its name in media monitoring and has since become active in business intelligence using AI and big data analysis techniques, is welcoming new investors. VardhanThe Norwegian private equity firm, which earlier this year closed a more than $1 billion fund to invest in the expansion of high-tech companies, acquired an 11% stake in Meltwater, valuing the company at €542 million. 92 million dollars), with a stock value of approximately 542 million euros (approximately 592 million dollars). $65 million. But that’s not the only sticking point in the deal.

The investment will be made through Verdan, which will acquire a significant stake in Fountain Venture, an investment vehicle controlled by Meltwater’s founder and current chairman, Jørn Risegen.

Meltwater was listed on the Norwegian Stock Exchange until early this year.Mr. Risegen oversaw the company’s taking private. early this year The remaining stake was held through Fountain in a deal with two private equity firms, Alter and Merlin. (This go-private deal was the last disclosed valuation and the one currently cited by Meltwater.) Verdhan invested in Fountain Venture rather than directly in Meltwater. This is because, in partnership with Fountain, we plan to jointly invest in startups active in the following areas in the future. love.

Joakim Kaempferd, president of Verdun, said the partnership will also allow the company to acquire a stake in HR firm Jobilon, but Meltwater has much larger assets.

“The trade here is really a portfolio trade,” he said. “We have acquired Mr Jorn’s investment company and have an implied direct stake in Meltwater and Nordic recruitment company Jovilon, with Meltwater being the largest asset in our portfolio.” Jovilon’s current ARR is approx. 5 million euros, but Meltwater, which was founded in Norway but is now headquartered in San Francisco, has an ARR of about 500 million euros, he added.

The deal highlights several important themes in Europe’s technology industry and the world of venture capital.

The first is the fact that tech companies continue to put significant pressure on their valuations. Meltwater’s current market cap is just under $600 million, which is actually less than the funding the company raised over the years (more than $700 million) when it was a private startup. pitch book data), and less than half of its valuation when it went public in December 2020 at more than $1 billion.

The second is the nature of the trade at the moment and the efforts investors are making to avoid risk. The European market is particularly tight at the moment. Venture capital firm Atomico conducts deep research into Europe’s funding landscape each year (along with a number of third-party research firms and other companies participating in the ecosystem), and estimates that funding will be halved in 2023. It turned out that That has fallen to just $43 billion, with private equity firms participating more heavily in deals to make up for the decline from VCs.

In this context, it is noteworthy that Verdane chose to invest in Fountain Venture rather than directly in Meltwater. This would give Verdan a stake in Meltwater, as well as Jovilon and any other stake that Fountain and Lysegen might be interested in. Then you lose the leverage of focusing on just one business. Verdane itself has only recently begun spreading its wings into investing in startups across Europe and beyond. Partnering with a partner to help lead the way is a much lower-risk approach to more ambitious initiatives.

From a technology perspective, companies like Meltwater are at a crossroads these days. The company’s roots lie in humans physically sifting through stacks of newspapers every day, cutting out the parts that mention company names, collating them, and sending them to their customers so they can better track their status. It probably came from business. It was featured in the media.

The decline of print media digitized that effort, but then the rise of social media turned it into a broader game, sentiment analysis, where words became structured and usually unstructured data. Ta. The influx of a whole new set of tools to glean insights from data has turned a media challenge into a technical challenge. Meltwater built his AI in-house and acquired a series of companies in his analytics integration efforts. (The most high-profile of these acquisitions was undoubtedly DataSift, a groundbreaking company that was an early Twitter friend of his and used to monetize Twitter’s firehose.) has worsened.)

But now it has a much bigger competitive threat. Companies like OpenAI and generative AI innovations will once again change the game from a search (consumer and business) perspective and how all kinds of business intelligence work is performed.

Unsurprisingly, Lyseggen said Meltwater’s focus feels like a throwback to what is essentially a solved problem, although it could well be made more efficient by competitors. Despite this, we believe there are further opportunities for our company.

“I see OpenAI’s ChatGPT as the ‘Netscape moment’ that ushered in this new era,” he said. This is interesting. Although Netscape isn’t part of what we use today, it certainly changed the way the world searches for information. “AI is changing the game as players challenge the old guard. We think Meltwater’s tech stocks are already the most modern and AI-centric of its category. We’re going to continue to do that and we’re really looking forward to it. We’re working very hard.” Meltwater today announced that it produces approximately 1 billion daily transactions for its communications, marketing and PR clients. announced that they were analyzing the document.

Source: techcrunch.com

May Mobility’s autonomous microtransit may be more profitable than robotaxis

Posted on December 18, 2023 by Igor Mitreski

Self-driving car company May Mobility has partnered with transportation technology company Via to launch the first self-driving on-demand microtransit service on public roads in Sun City, Arizona. This milestone is in line with May Mobility’s goal to begin passenger-only operations by 2023. It also suggests that a gradual approach to commercializing autonomous driving could work well for startups.

Sun City is a planned community for “active retired adults.” Launching an unmanned microtransit service in this environment isn’t as flashy as putting robotaxis on the streets of San Francisco or autonomous transportation at Phoenix’s airport. However, thanks to this, the company expanded smoothly and avoided getting into trouble.

May’s strategy of partnering with cities to integrate autonomous microtransit services into existing public transportation also laid the groundwork for more challenging deployments in the future. Carlos Cruz Casas, chief innovation officer for the Miami-Dade County Department of Public Works, told TechCrunch that May Mobility, also in partnership with Via, will launch an on-demand shuttle service in Miami. Neither May Mobility nor Via responded to TechCrunch for confirmation.

Rival Cruise Corp. launched an unmanned robotaxi fleet in Miami before towing its entire fleet after a pedestrian was hit and dragged by one of its General Motors-backed vehicles in October. Remember, we started testing in just one day. Cruise subsequently had its license to operate in California suspended and last week laid off 900 employees and several executives.

By keeping its head down and deploying small, May has so far been able to expand without major disruption. The company operates shuttles to designated stops on campus and along fixed routes in Ann Arbor, Michigan, and Arlington, Texas. Most recently, May partnered with Via to launch an on-demand service in Grand Rapids, Michigan. A Grand Rapids customer can summon his one of May’s Toyota Sienna Autono-MaaS AVs from within a designated geofenced area.

Steve Miller, a risk management consultant specializing in self-driving cars at the U.S. Insurance Bureau, told TechCrunch that more controlled, low-speed shuttles and on-demand services like those offered by May and competitor Veep are on the horizon. He said he expected that. Beep operates self-driving shuttles to provide transportation for residents of the Lake Nona community in Florida and public transportation in Peachtree Corners, Georgia. Beep also provides transportation for guests at Disney’s Celebration Resort and Wilderness Lodge Resort.

“What we’re seeing as we’re talking about commercial deployment is that the industry is really focused on trucking and shuttle transportation, like Veep and May Mobility-type shuttles.” said Miller, noting that the development of Level 2 advanced driver assistance software for OEMs is important. It’s also trending in AV startups. “And the reason these two are in the lead is because they both have the advantage of being in a defined operational domain. They’re in a controlled environment. That’s what makes robotaxis difficult. The problem is that there are many edge cases that cannot be modeled at this time.”

Meanwhile, May said the company’s multi-policy decision-making system is well-equipped to deal with edge cases. According to the company, the system “runs real-time onboard simulations to analyze thousands of possible scenarios every second and select and execute the safest scenario.”

Miller also said that today’s funding environment encourages companies to focus on sustainability around their core business rather than achieving moonshot goals. In November, May raised $105 million, bringing its total funding up to $300 million.

“With so many cities and municipalities in the U.S. and so many transportation subsidies, we’re going to see more shuttle-type operations,” Miller said. “So I think we’re going to see interest from cities, airports, transportation hubs. There’s a lot of opportunity to connect to mass transit, and I think that’s pretty lucrative.”

Suncity unmanned operation begins

May Mobility’s first passenger-only service in Sun City will request a “select group of initial passengers” to be picked up or dropped off in one of the company’s Autono-MaaS minivans from various stops, according to the company. It is said to give an opportunity.

The free service will initially operate on public roads from 4pm to 6pm, Monday to Friday. A company spokesperson said expansion was imminent but depended on May’s careful and thoughtful approach to safety, passenger feedback and community trust.

Passengers can book on-demand rides through May Mobility’s app, available on Google Play and the Apple App Store. Residents interested in becoming early riders can apply online.

Source: techcrunch.com

Tamara, a BNPL platform and shopping giant in Saudi Arabia, achieves $1 billion valuation following $340 million Series C funding round

Posted on December 18, 2023 by Igor Mitreski

Tamara, the buy-now-pay-later platform for consumers in Saudi Arabia and the Gulf Cooperation Council region, has recently completed a C round of funding that raised $340 million. This recent funding brings the company’s valuation to $1 billion, making it the first fintech unicorn startup in the region. SNB Capital and Sanabil Investments led the Series C round, alongside other backers such as Shorooq Partners, Pinnacle Capital, and Impulse. This round includes primary capital and some secondary equity transactions, marking one of the largest investments in fintech in the region. Tamara has raised a total of $500 million in equity funding, including secondaries, and over $400 million in debt funding.

Established in 2020, Tamara has quickly gained traction and currently boasts over 10 million users in Saudi Arabia, UAE, and Kuwait. The platform allows consumers to shop, pay in installments, and make bank transfers, and it has partnered with 30,000 merchants, including popular names like SHEIN, IKEA, Jarir, Noon, eXtra, and Farfetch.

The rise in popularity of buy-now-pay-later services in Saudi Arabia has seen significant growth, driven by the booming e-commerce market. According to a report from last year, the number of registered customers for BNPL services increased from 76,000 in 2020 to 3 million in 2021 and 10 million in 2022. With Saudi Arabia’s huge potential for digital payments, the market is expected to grow significantly in the next few years.

CEO Alsukhan emphasized the importance of building a customer-centric payment solution and the platform’s commitment to Shariah compliance. Tamara prides itself on offering a friendly and transparent service, focusing on avoiding unnecessary fees and helping customers make timely payments by offering risk management tools and options based on their financial capabilities.

Tamara’s long-term vision includes expanding its revenue sources and introducing new products and services beyond buy-now-pay-later. The platform plans to strengthen its integration into the shopping journey, introduce a buyer protection program, and enhance its card functionality for in-store transactions.

The recent funding not only represents a significant milestone for Tamara but also signals the region’s growing potential in the fintech industry. As the first homegrown unicorn in the Gulf, the company’s success reflects the supportive ecosystem, financial backing from local and international investors, and a strategic focus on customer satisfaction and compliance.

Source: techcrunch.com

Can AI Save Your Christmas by Doing the Last-Minute Work? | Latest Updates in Science and Technology

Posted on December 18, 2023 by Igor Mitreski

Source: news.sky.com

Cruise reduces self-driving workforce by 25%, another electric scooter startup leaves market, and a special year-end message

Posted on December 18, 2023 by Igor Mitreski

The Station is a weekly newsletter dedicated to all things transportation. Just sign up here and click on “The Station” to have our newsletter delivered to your inbox every weekend. Subscribe for free. Welcome to the station. It is the central hub for all past, present, and future means of moving people and goods from point A to point B. Hello! And goodbye! Well, at least until 2024. The station will be closed for a while until the end of this year. I would like to thank everyone who reads our weekly newsletter and sends me suggestions, tips, and criticism. Yes, I appreciate the thoughtful backlash. This year has seen new startups emerge (so many electric boat and RV companies, right?), more EVs on the roads, and numerous commercial milestones achieved in the self-driving vehicle industry. It was a year of lots of movement. Of course, there were dark moments and even shocking moments. Many startups went bankrupt, including a number of mobility SPACs, and layoffs remained widespread into the final months of the year. Two of the most surprising stories involve the self-driving car industry. Argo AI It made a comeback with a new AV startup funded by Softbank, but cruise. Cruise’s story continues to unfold and will likely play out until 2024. Last week was a tough week for Cruise, albeit as expected. As a result, the Cruise board, and by extension the GM board, are doing a housecleaning to restore years of technological advances. As part of that mission, nine top leaders were removed and 900 workers were laid off. We will continue to follow Cruise’s story next year. But that’s not our only focus. The TechCrunch team cares about the future of transportation, from new EV and battery technologies to electric and hydrogen aviation, self-driving cars, micromobility, and in-vehicle technology. It’s not just about highlighting the next new new thing. Instead, we strive to explain why it’s important and who it affects. In other words, we’re the kind of people who take unlikely exits and side streets to explore what others might avoid. Please join us. See you in the new year! Want to contact us with a tip, comment, or complaint? Email Kirsten at kirsten.karasec@techcrunch.com. Send your notes to tips@techcrunch.com. If you wish to remain anonymous, Click here to contact usthis includes SecureDrop (instructions here) and various encrypted messaging apps. micromobin The big talking point in Scooterville was the “seemingly” sudden decision. super pedestrian Just 18 months after raising $125 million, the company is closing its U.S. operations and beginning to consider selling its European operations. I don’t want to say I saw this coming, but given that in late November Superpedestrian began laying off several European executives responsible for global development and operations, Let’s just say I wasn’t shocked by the news. Superpedestrian’s Link scooters are available in about 60 cities in 11 countries, but are scheduled to be withdrawn from most markets by the end of 2023. The startup positioned itself as a partner for safe cities and invested in advanced passenger assistance technology by acquiring Navmatic in July 2021. That’s where Pedestrian Protection was born, Superpedestrian’s GPS-based safety system that could detect and correct unsafe rider behavior in real time. However, the system was competing with other camera-based computer vision systems popularized by Drover AI and Luna. Lime, the only big scooter company likely to survive, introduced its own version of rider-assistance technology on its scooters in July 2022, around the same time that Superpedestrian began cutting jobs. As the balance sheets of public companies Bird and MicroMobility.com (formerly Helbiz) demonstrate, shared micromobility is a difficult business to run properly. Bird has recently been kicked off the stock market, announced several layoffs and is likely close to filing for bankruptcy. MicroMobility.com has undergone not one but two reverse stock splits this year, and its stock price remains depressed. And after several failed acquisition talks, Tier Mobility also announced layoffs in November. Oh, and let’s not forget Boruto’s mysterious disappearance. My question now is who will be next to fly off to the great beyond? — Rebecca Beran This week’s sale We have lots of great deals this week! dimensional energy, a New York-based startup that develops sustainable aviation fuel from carbon dioxide emissions and water, has raised $20 million in a Series A round led by Envisioning Partners. Strategic investors include United Airlines Sustainable Flight Fund, Microsoft Climate Innovation Fund, Rock Creek Smart Aviation Futures Fund, DSC Investments, Derek US, and New York Ventures, as well as Elemental Excelerator and Chloe Capital. Existing investors also participated. summer timea Chinese new energy vehicle fleet management company, has completed an $80 million funding round to fuel R&D investment and real-time computational analysis. exponential energyThe Indian EV charging startup has raised $26.4 million in Series B led by Eight Road Ventures and TDK Ventures. This funding will help Exponent expand its 15-minute charging solution to five major cities in India in FY2024 and enter the intercity e-bus segment. The company plans to deploy 1,000 charging stations and equip 25,000 EVs with Exponent by 2025. Ric the mobility-as-a-service startup has raised €1.4 million ($1.53 million) from Habert Dassault Finance, AfriMobility (Akwa Group), angel investors, and banks including Bpifrance, Crédit Mutuel, and Caisse d’Épargne. meta fuela sustainable jet fuel startup, has raised $8 million in a round led by Energy Impact Partners and Contrarian Ventures. Vanmo, a São Paulo-based startup looking to expand electric motorcycle battery swapping in Latin America, has raised $30 million in a Series A round to capitalize on the growing popularity of bikes across the region. The equity and debt round was led by Monasees, with participation from Climate Technology Fund 2150 and Maniv Mobility.

Source: techcrunch.com

Meta threatened to delete sensitive data if underage users claim to have been exposed to predatory individuals, according to Attorney General.

Posted on December 17, 2023 by Igor Mitreski

New court filings say Meta has stolen sensitive data from test accounts mentioned in a New Mexico bombshell lawsuit that alleges underage Facebook and Instagram users are exposed to child predators. “He threatened to delete it,” he said.

New Mexico Attorney General Raul Torrez said in a Monday filing that Meta had “deactivated” several test accounts used by law enforcement to investigate the popular app.

According to the filing, Torrez will restrain Meta from deleting “any information related to the accounts referenced in the complaint or any information related to any account on which Meta has taken action based on the information in the complaint.” They are seeking a court order.

“The state filed this motion seeking an order requiring Meta to comply with its data retention obligations under New Mexico law,” the filing states.

The attorneys also cited New Mexico court precedent against destroying relevant evidence.

Amazing lawsuit filed last weekAccording to , the test accounts used AI-generated photos that allegedly depicted children under the age of 14, and contained adult-oriented sexual content and content, including “genital photos and videos” and six offers. He said he was bombarded with unpleasant messages from alleged child predators. Pay to appear in porn videos.

Meta subsequently disabled these accounts. This allegedly hindered the ongoing investigation by denying authorities access to critical information “including the usernames of accounts with which investigators interacted, as well as search history and other information about those accounts.” That’s what it means.

It is unclear whether Meta has shut down the Facebook and Instagram accounts of the alleged child offenders.

“Of course, we store data in accordance with our legal obligations,” a Meta spokesperson said.

Torres’ office did not comment on Monday’s filing.

In New Mexico, a test account called “Issa Bee” claiming to be a 13-year-old girl living in Albuquerque had more than 6,700 followers on Facebook, most of whom were “males between the ages of 18 and 40.” ” he claimed. -age.

The account has received several disturbing sexual offers, including one from an adult user who allegedly “openly promised $5,000 a week to be his ‘sugar baby’.” was.

According to the state, Meta notified the company on December 7, the day after the lawsuit was filed, that it would disable the test account.

The social media giant said: “Even though the account in question had been operating for several months without any action by Meta, and law enforcement had previously reported unlawful and unlawful content to Meta through reporting channels. Despite this, the company took this action, the filing states.

When the investigator tried to log in, he received a message warning that his account had been “deactivated.”

The message states that you have 30 days to request a review before your account is “permanently disabled.”

State attorneys contacted them the same day and asked for confirmation that Meta would “preserve all data” associated with the account, according to the filing.

Meta’s lawyers reportedly responded that the company “takes reasonable steps to identify the accounts referred to in the complaint and preserve relevant data and information regarding those accounts once identified.”

The state said Meta did not respond to requests for details about what data from accounts it deemed “relevant” and what data it would not keep.

“Given Meta’s refusal to preserve ‘all data’ related to the accounts mentioned in the complaint, a court order is required to preserve this important evidence for trial.” is stated in the submitted documents.

Meta CEO Mark Zuckerberg has been named as a defendant in a New Mexico lawsuit.

State officials allege that Mr. Zuckerberg’s product design decisions played a key role in putting underage users at risk.

Meta has not yet responded specifically to the lawsuit’s allegations.

“We use advanced technology, employ child safety experts, report content to the National Center for Missing and Exploited Children, and communicate information and tools with other companies and law enforcement agencies, including state attorneys general. to help root out looters,” Mehta said. Statement to the Wall Street Journal after the lawsuit was filed.

The New Mexico lawsuit is separate from a larger lawsuit filed by 33 state attorneys general in October.

The states allege that Meta intentionally made the app addictive to trap young users and collected personal data from underage users in violation of federal law.

Mr Mehta has denied any wrongdoing.

Source: nypost.com

Apple requests court order to disclose customer information to law enforcement officers

Posted on December 17, 2023 by Igor Mitreski

WASHINGTON, Dec. 12 (Reuters) – Apple (AAPL.O) says it is seeking a judge’s order to turn over information about its customers’ push notifications to law enforcement, bringing the iPhone maker’s policy in line with rival Google’s and allowing authorities to obtain app data about users. The hurdles that must be cleared have been raised.

The new policy was not officially announced, but was announced in the past few days. Law enforcement guidelines published by Apple. This follows revelations by Oregon Sen. Ron Wyden that officials had requested such data not only from Apple but also from Alphabet Inc.’s Google. (GOOGL.O) Create an operating system for Android phones.

Apps of all kinds rely on push notifications to notify smartphone users of incoming messages, breaking news, and other updates. These are the audible “sounds” or visual indicators that users receive when they receive an email or when a sports team wins a game. What users often do not realize is that almost all such notifications are sent through Google and his Apple servers.

In the letter, first revealed by Reuters last week, Wyden said the practice gives the companies unique insight into the traffic flowing to users from these apps, and that the two companies can “see how users use specific apps.” “We are in a unique position to facilitate government oversight of what is happening.”

Although Apple did not officially announce this new policy, it was included in Apple’s published law enforcement guidelines within the past few days. Getty Images

Apple and Google both acknowledged receiving such requests. Apple added a section to its guidelines stating that such data can be obtained “via subpoena or larger legal process.” This text has now been updated to refer to more stringent warrant requirements.

Apple has not released an official statement. Google did not immediately respond to a request for comment.

Wyden said in a statement that Apple is “doing the right thing by aligning with Google in seeking a court order to turn over data related to push notifications.”

Source: nypost.com

Report: Expectations for $2.5 billion drop in ad sales for Elon Musk’s X

Posted on December 17, 2023 by Igor Mitreski

Ad sales for Elon Musk’s social media platform X in 2023 are expected to fall to about $2.5 billion. Bloomberg News reported Tuesday. Several companies, including Comcast and Walt Disney, stopped advertising on the platform after Musk last month agreed to a post on X (formerly Twitter) that claimed Jews were inciting hatred against white people. There was a pause. Joe Benarroch, head of business operations at Company X, told Reuters: “This report does not reflect the full scope of our business as sources relied upon by Bloomberg do not provide accurate and comprehensive details. “It gives an incomplete view.” Last month, Musk agreed with a post by X that claimed Jews were inciting hatred against white people. Getty Images for The New York Times 
 As a publicly traded company, X’s revenue from advertising services in the last four quarters totaled $4.7 billion for the second half of 2021 and the first half of 2022, according to LSEG data. The company generated more than $600 million in advertising revenue in each of the first three quarters of 2023 and expects similar results this quarter, the report added, citing people familiar with the matter. Since Musk’s acquisition in October 2022, U.S. monthly ad revenue has fallen by at least 55% year over year every month, according to third-party data provided to Reuters in October. The company generated just over $600 million in ad revenue in each of the first three quarters of 2023, according to Bloomberg. zumapress.com 
 Advertising sales account for 70% to 75% of X’s total revenue. Management had targeted $3 billion in revenue from advertising and subscription fees in 2023, but the company is far from reaching that number, according to the report. Musk also said in July that Twitter’s cash flow remains negative due to a nearly 50% drop in advertising revenue and high debt.

Source: nypost.com

Tesla issues widespread recall in response to Autopilot flaw following fatal Virginia crash and technology concerns.

Posted on December 17, 2023 by Igor Mitreski

Tesla has recalled nearly all vehicles sold in the United States to fix a flaw in Elon Musk’s electric car company’s Autopilot driver assistance system. The move comes after Virginia authorities discovered the vehicle’s software had been activated during a previous fatal crash. July.

The recall of more than 2 million vehicles, reportedly the largest in Tesla history, was revealed as part of an ongoing investigation by the National Highway Traffic Safety Administration.

The investigation, which began more than two years ago and includes an investigation into 956 crashes in which Autopilot was implicated, found that existing safety measures “may not be sufficient to prevent driver misuse of the software.” It was determined that there is.

“In certain situations, when Autosteer is activated and the driver is not responsible for operating the vehicle and is not prepared to intervene if necessary, or when Autosteer is canceled or activated. Failure to recognize when it is not present can increase the risk of a crash,” NHTSA said in a release.

Electric car manufacturer announces recall This will consist of an over-the-air software update that was expected to be rolled out on Tuesday or a little later. This update applies to Tesla Model 3, Model S, Model X, and Model Y vehicles manufactured in certain years, including those dating back to 2012.

The vehicle will be provided with “additional controls and warnings” to remind drivers to take precautions when using Autopilot, such as keeping both hands on the steering wheel and keeping their eyes on the road.

Tesla shares fell more than 1.5% in Wednesday trading before closing up 1%.

The announcement came on the same day that Virginia officials revealed that Autopilot was being used. Pablo Teodoro III, 57, crashed his Tesla into a tractor-trailer, causing a fatal accident. Authorities also determined that the Tesla vehicle was speeding before the accident.

A spokeswoman for the Fauquier County Sheriff’s Office said Teodoro appeared to have taken action a second before the accident, but it was unclear what he did.

The investigation also found that the car’s systems “recognized something on the road and sent a message.”

NHTSA is still investigating the crash.

The recall also Washington Post’s shocking report Tesla claimed it was allowing Autopilot to be used in areas the software was not designed to handle.

The media claimed to have found at least eight fatal or serious accidents involving Tesla Autopilot on roads where “driving assistance software cannot reliably operate,” such as roads with hills or sharp curves.

In response to this article, Tesla defended the safety of its Autopilot software with a lengthy argued that “we have a moral obligation to keep improving what is already the best product.” -In-class safety system. ”

“The data is clear: the more automation technology provided to support drivers, the safer they and other road users will be,” the company said.

Tesla President Elon Musk reiterated that Autopilot is safe to use and emphasized the company’s commitment to developing driver assistance and fully self-driving features as an important part of the company’s long-term plans.

with post wire

Source: nypost.com

Controversial Ziploc phone hack ignites discussion about children’s screen time

Posted on December 17, 2023 by Igor Mitreski

Here’s how to get kids to zip up during long car rides. TikToker @jeffandlaurenshow “The best travel hack for staying calm during long road trips,” he says, involves a Ziploc bag and a smartphone. Her 17 second clipAn image uploaded to the social media platform last month shows the driver’s headrest being removed from the car, using scissors to cut two holes in the side of the Ziploc bag where the headrest is connected to the seat, and then replacing the headrest in its original position. The image shows a woman returning to her home. . A woman presses play on a children’s video on her mobile phone and puts it in her bag, creating a hands-free screen for her toddler. “Things I wish I had known when I became a mom for the first time,” the TikToker wrote in text above the video, which has been viewed more than 50 million times. One TikToker claims the “best travel hack to keep the peace on long trips” involves a Ziploc bag and a smartphone. Her clip sparked a debate about giving children too much screen time. Jeff Lauren Show/TikTok The clip sparked a debate on TikTok about giving kids too much screen time, with some calling the hack “ridiculous.” One commenter laughed: “Oh yeah, keep them glued to their screens.” “It’s better to let kids watch something on TV than to have them kicking and screaming and crying because they’re bored,” another argued. “If they’re bored, than engage with them because they’re your kids,” the TikToker retorted. “Read to them,” suggested another. “Some of the kids can’t read yet, they’re crazy!” someone yelled. “There is such a thing as a picture book,” said the third person, expressionless. “Things I wish I had known when I became a mom for the first time,” the TikToker wrote in text above the video, which has been viewed more than 50 million times. Jeff Lauren Show/TikTok One TikToker commented on the comment section, saying, “There’s a serious battle going on over parenting here.” “It’s a stupid fight (lol),” said one dispatcher. The American Academy of Child and Adolescent Psychiatry recommends limiting screen time for all children. People under 18 months should only be exposed to screens when video chatting with someone on the go. Young children between 18 and 24 months of age should stick to educational programming, the academy says. Screening time for children ages 2 to 5 must be limited to one hour on weekdays and three hours on Saturdays or Sundays. And parents should talk to their children ages 6 and up to “encourage healthy habits and limit activities that involve screens.” Too much screen time is associated with sleep, weight, and mood problems, as well as poor performance in school.

Source: nypost.com

Expecting an Increase in IT Budgets in 2024, Though Startups May Face Tough Conditions

Posted on December 17, 2023 by Igor Mitreski

I think most People would agree that 2023 was a difficult time for startups. Many layoffs occurred as companies struggled to move from growth to profitability. On the other hand, sales cycles were becoming longer and many startups were struggling to grow at a decent pace.

As we start to see that the economic indicators are starting to improve a little bit.
calming inflation,
cost of money You might think 2024 might be a better year if currencies weaken and headwinds for most currencies subside.

necessarily.

We’re entering a new era, one in which money won’t flow as freely, and according to the experts we spoke to, it won’t be coming back anytime soon. This means startups that don’t have enough capital now may continue to struggle in 2024, and flipping the calendar won’t change that.

What does that mean for startups heading into 2024? It means they need to prove their worth more than ever. This means you need enough cash to survive long sales cycles. That means he will have to fight for a piece of the corporate budget, and perhaps 2024 could be a year much like his 2023.

Budget outlook

A good starting point for budget discussions is what the proposed budget looks like. Analyst firms like IDC and Gartner forecast IT spending each year, but they typically adjust throughout the year as reality becomes clearer.

IDC predicts growth of 6.8%, up from 5% last year. This figure covers hardware, software, and services, but excludes communications spending. Gartner, on the other hand, predicts a slightly higher rate of 8.2%.

The overall upward trend should be good news for startups looking to corporate buyers to lift their business. But his Gartner analyst John-David Lovelock, who tracks IT budgets, says that while 2023 was a year of increased efficiency, it won’t just end in the new year.

Source: techcrunch.com

The highs and lows of Fintech in 2023

Posted on December 17, 2023 by Igor Mitreski

welcome home interchangeHere are the hottest fintech news from the past week. If you would like to receive The Interchange directly in your inbox every Sunday, please visit: here Sign up!

What a year!

This is the last edition of The Interchange for 2023. I can’t believe the year is almost over.

It’s been an eventful 12 months, even with reduced funding. We’ve seen a lot of M&A activity (read about it here, here, here, and here), BNPL has (sort of) made a comeback, and new fintech-focused ventures are raising money (Flourish and Vesey), several startup closures (Daylight being one example) and more layoffs than we would have liked.

And remember when FedNow went live in the US in July? At the time, the list included 35 financial institutions, and five months later, more than 330 of them were on the network. Participating in

There’s never a dull day in the world of fintech. For a broader look back, keep an eye out for a deeper dive into the top fintech stories we reported on through the end of the year.

I would like to take this opportunity to express my sincere gratitude to all the readers who have supported this magazine thus far. There are a lot of fintech newsletters out there, so the fact that you subscribe to this newsletter and keep coming back means a lot to us.

As we look forward to 2024, we wish you and your families a wonderful holiday season and a new year filled with lots of love, peace, and happiness. Thank you very much. — Mary Ann and Christine

weekly news

Christine reported on her dismissal: bolt, an e-commerce and fintech company that was at one time the subject of a federal investigation. The company confirmed through a spokesperson that the one-click checkout company has laid off 29% of its workforce. A Bolt spokesperson said in an emailed statement that the company is working to make Bolt an “operating model optimized for sustainable growth and efficiency” and is committed to “the next steps for our business.” “We can ramp up with the speed and agility necessary for this step.” ” We have been following Bolt for years, and this layoff is the latest of several other cuts that have taken place beyond 2022. In May 2022, Mary Ann reported that at least 185 employees, one-third of its workforce, had been laid off. Let go. Bolt, which provides software to retailers to speed up checkout, has raised a total of about $1 billion in venture backing and was once valued at $11 billion.

Mary Ann reported on several high-profile executive departures this week.She announced the following news credit karma Co-founder Nicole Mustard is stepping down after more than 16 years with the company. Mr. Mustard’s decision to step down marks the third high-profile departure of an executive at Credit Karma in 2023. She then wrote: open door Co-founder Eric Wu is leaving his job at a real estate fintech company after nine years to return to his startup roots. Notably, Wu has invested in startups during his time at Opendoor.according to crunch baseMr. Wu has backed dozens of companies, including Airtable, Scribe, Roofstock and the now-defunct Zeus Living.

At TC+, Jacqueline Melinek wrote about the following facts: robin hood‘s foray into cryptocurrencies isn’t necessarily new, and the company is still looking to expand its efforts in cryptocurrencies, even among groups that tend to stay away from the platform. “I think cryptocurrencies have always been created by and for very technical people,” said Johan Kerblatt, general manager of cryptocurrencies at Robinhood. chain reaction podcast. “At the end of the day, I don’t think customers care too much about what the underlying protocol is when they use cryptocurrencies. What network are they using? They just want things to work. That’s what I’m hoping for.”

Other items we are reading

Google Pay to add BNPL option in early 2024 (Apple made Apple Pay Later available to all users in the U.S. in October, after releasing it to a limited number of users in March.)

Visa acquires Brazilian fintech company Pismo in US$1 billion deal (See TechCrunch’s coverage of how the Pismo and Visa acquisitions first happened.)

Dallas-based Apex Fintech Solutions files for IPO in second public offering bid

Melio introduces real-time payments

HR technology platform Checkr moves to payments for gig workers

Deel launches compliance hub

Repay partners with Green Dot to enable cash-based bill payments

Klarna plans to replace employees with AI to boost profitability

Neobank Dave’s new chatbot achieves 89% resolution rate, CEO says (Go here to read Mary Ann’s Q&A with Dave’s founders in March.)

Funding and M&A

As seen on TechCrunch:

SumUp raises another €285m in growth funding to weather the fintech storm

Comun Channelizes Local Bank Approach to Serve Latino Immigrants

UK International Investment backs India’s Aye Finance with $37 million funding

Hyperplane wants to bring AI to banks

Kapital secures $165 million in equity and debt to provide financial visibility to Latin American small businesses

Prevu’s home sales process rewards homebuyers with cashback rebates

can be seen elsewhere:

Launch of Stairs Financial platform to assist first-time home buyers

Waste management payments company CurbWaste raises $10 million

Fintech startup Pontera raises $60 million, plans to expand jobs in Israel

Completed $12 million Series B financing in January

Necto raises $8 million in seed funding

HSBC supports Aii’s decarbonization grant fund

E-commerce financier SellersFi secures Citi-led credit facility

Image credits: Bryce Durbin

Source: techcrunch.com

Understanding the Law of X: A Guide for Cloud Leaders on Balancing Growth and Profits

Posted on December 17, 2023 by Igor Mitreski

our view

For companies with adequate FCF margins, growth must remain a top priority. There are good reasons to emphasize efficiency, but Traditional Rule of 40 Mathematics Is Completely Wrong When a company approaches its break-even point and has positive free cash flow,

The world has hyper-rotated to an FCF margin mindset instead of a growth mindset, which is counter to efficient business growth. Long-term models show that growth should be valued at least two to three times more than his FCF margin, even in tight markets.

Equivalent emphasis on growth and profitability in late-stage businesses is flawed and leads to bad business decisions.

why?

An increase in margin has a linear effect on value, but an increase in growth rate can have a compound effect on value. We provide detailed calculations below, but when we backtest the relative importance of growth and FCF margins, the correlation of public market valuations confirms it. Actual ratios vary widely in the short term (ranging from about 2x to about 9x over the past few years), but over the long term they are typically 2x to 3x growth value over profitability. It comes down to proportions.

Even the most conservative financial planner recommends that you can safely use a growth rate of up to 2x for late-stage private company profitability. Publicly traded companies with a low cost of capital can use multiples of up to 2-3x (as long as growth is efficient).

Image credits: Bessemer Venture Partners

Source: techcrunch.com

Google quietly discontinues popular apps as part of restructuring efforts

Posted on December 17, 2023 by Igor Mitreski

Google is removing popular apps in a new shake-up within the company.

The Google Play Movies & TV app will be retired soon.

The service has already been removed from Roku devices and most smart TVs, and over the next few weeks, Google plans to continue shutting down the service until it’s gone completely. It’s still available on Android TV and the Google Play Store, but not for much longer.

“We’re making several changes to simplify the way you buy new movies and access the movies and TV shows you buy through Google,” the company said in a statement. Posted in support thread Android TV Help.

Starting January 17th, users will no longer be able to access content through Play Movies & TV. But don’t worry, your rented or purchased movies won’t be lost forever. All your purchased movies and TV will be transferred to Android TV and YouTube.

“As a result of these changes, Google Play Movies & TV will no longer be available on Android TV devices or the Google Play website,” Google explained. “However, you will still have access to all previously purchased titles (including active rentals) on Android TV devices, Google TV devices, the Google TV mobile app (Android and iOS), and YouTube.”

The tech giant has been slowly discontinuing its Play Movies & TV app since launching a standalone TV app in 2021.

Starting January 17th, users will no longer be able to access content through Play Movies & TV. Daniel Krassoa – Stock.adobe.com

When this change takes effect on January 17th, people with Android TV-powered TVs or streaming devices will be able to watch previously purchased titles or purchase new movies from the Shop tab. Purchased titles and active rentals will be displayed.

On a cable box or set-top box with Android TV, the YouTube app stores all your previously purchased content. YouTube is also the new content home for people using web browsers.

These changes come on the heels of Google removing inactive Gmail accounts in a cybersecurity effort and introducing an AI-powered makeover with five new features.

Source: nypost.com

Shetland Islands’ Saxavod Spaceport receives license for UK’s inaugural vertical rocket launch | Latest UK News

Posted on December 17, 2023 by Igor Mitreski

A site on the northernmost tip of the Shetland Islands has become the UK’s first licensed spaceport for vertical rocket launches.

The Saxavod spaceport, located on the small island of Unst, has received a license from the Civil Aviation Authority (CAA) and will be able to conduct its first launch in 2024.

Regulators have verified that the privately owned spaceport meets safety and environmental requirements for vertical space launches.

Frank and Debbie Strong have owned a former RAF base on a remote peninsula in Unst since 2004.

Authorized for up to 30 launches per year, it caters to companies looking to launch satellites into polar or sun-synchronous orbits.

Just under £30 million has so far been spent on developing the spaceport, which includes three launch pads and a hangar for assembling rockets.

Two German companies, Rocket Factory Augsburg and High Impulse, hope to launch from Saxavoord in 2024.

The couple also have plans to build a hotel and visitor center in Saxavod.

“A moment that defined an era”

Tim Johnson, director of space regulation at the CAA, said: “The granting of the license to Saxavoord is a defining moment for the UK space sector.”

“We could soon be rocketing satellites into orbit from Scotland, marking the start of a new chapter for British space.

“We are undertaking important work to ensure the UK’s space activities are safe and sustainable for everyone.”

Mr Strang said the award of the license was “historic” and said: “Our team is extremely proud to have been entrusted by the government to operate a complex, multi-disciplinary, multi-launch spaceport. We all take this responsibility very seriously.”

“There is still a lot of work to do, but this is a great way to end the year and head into Christmas.”

Cornwall Spaceport has become the UK’s first licensed spaceport, but the Saxavord approval allows aircraft to launch rockets vertically rather than horizontally.

Source: news.sky.com

Ex-Facebook Diversity Manager Admits to Defrauding Company of $4 Million in Kickback Scheme, Say Federal Authorities

Posted on December 17, 2023 by Igor Mitreski

A former diversity program manager at Facebook has admitted to stealing over $4 million from the company through fraudulent business deals in exchange for kickbacks, as per the Justice Department.

Barbara Farlow Smiles, who served as Facebook’s chief strategist and global head of employee resource groups and diversity engagement, used the stolen funds to support a lavish lifestyle across multiple states, according to prosecutors.

From January 2017 to September 2021, Farlow Smiles oversaw the diversity, equity, and inclusion (DEI) program at Facebook and was entrusted with DEI initiatives and operations, as well as engagement programs, as per the Department of Justice.

Authorities disclosed that Farlow Smiles had access to company credit cards and had the authority to approve invoices, and used various individuals, including friends and relatives, to funnel kickbacks to her.

Individuals allegedly recruited by Farlow Smiles to participate in the kickback scheme included former interns, a college tutor, a hairstylist, babysitter, and a nanny, as per authorities.

It remains uncertain if anyone associated with Farlow Smiles has been charged in connection with the incident.

Farlow Smiles also misled Facebook into providing funds to an organization that did not deliver any kickbacks, including payments to an artist and an unnamed preschool.

To avoid scrutiny, Farlow Smiles submitted false expense reports, falsely claiming that individuals had provided marketing or merchandise at Facebook event vendors.

Farlow Smiles “abused her position at Facebook to defraud the company and undermine the importance of its DEI mission,” said U.S. Attorney Ryan K. Buchanan after her guilty plea on Tuesday.

“Driven by greed, she orchestrated an elaborate criminal scheme, engaging fraudsters to pay kickbacks in cash, and involving her relatives, friends, and other associates in the crime, all to finance her lavish lifestyle through fraud rather than through hard, honest work,” Buchanan added.

“Farlow Smiles used lies and deception to defraud both vendors and Facebook employees,” said FBI Special Agent Kelly Farley.

The Justice Department commended Mr. Mehta for providing valuable assistance and cooperation during the investigation.

“We are cooperating with law enforcement in the case involving this former program manager and will continue to do so,” Mehta said in a statement.

As part of a two-step fraud scheme, Farlow Smiles used apps such as Venmo and PayPal linked to her company credit card, and submitted false expense reports to cover her tracks.

Most employees were reportedly unaware that the funds were coming from Facebook and returned the funds to Farlow Smiles in cash or through direct deposit. Federal authorities disclosed that the cash was sometimes delivered to Farlow Smiles wrapped in t-shirts and other items.

In the second part of her plan, Farlow Smiles directed Facebook to use businesses owned by friends and then approved “fraudulent and inflated invoices” on behalf of the vendors in exchange for kickbacks.

Farlow Smiles is set to be sentenced on March 19, 2024.

Source: nypost.com

Report: Apple Faces Potential Heavy Fines in App Store and Spotify Dispute

Posted on December 17, 2023 by Igor Mitreski

European Union regulators are expected to impose a ban on the App Store rules affecting some music streaming services and potentially levy heavy fines on Apple, according to a report by Bloomberg News published on Wednesday.

Based on the report, EU authorities are in the process of finalizing a decision that would prevent Apple from blocking music services that redirect users from the App Store to alternative subscription options, citing sources familiar with the investigation.

The decision is expected to be announced early next year, with potential fines for Apple amounting to up to 10% of its annual revenue, as reported by Bloomberg.

The investigation was triggered by a complaint from Sweden’s Spotify Technology four years ago, claiming that it was compelled to raise monthly subscription prices due to costs related to Apple’s App Store rules.

Earlier this year, the European Commission filed a complaint against Apple, deeming the conditions to be unnecessary and potentially resulting in increased costs for customers.

Apple did not respond to Reuters’ request for comment, and a spokesperson for the European Commission declined to comment on the matter.

Apple’s stock saw a slight increase in afternoon trading.

Source: nypost.com

Elon Musk’s request for nearly $900 million in Starlink subsidies denied by FCC

Posted on December 17, 2023 by Igor Mitreski

Republican critics were furious after the Federal Communications Commission rejected nearly $900 million in subsidies for Elon Musk’s Starlink internet service, calling it a revenge move by the Biden administration. did.

Musk’s SpaceX was appealing a 2022 FCC move that denied the company access to about $886 million in subsidies as part of a government program to boost rural internet service. .

The five-member FCC, led by Democratic-appointed Commissioner Jessica Rosenworcel, affirmed the decision on Tuesday, finding that Starlink “has failed to demonstrate that it can deliver its promised services.”

republican party FCC Commissioner Brendan Carr objects. In the decision, Musk claimed that “President Biden has given the green light to federal agencies” after the billionaire bought Twitter for $44 billion last year.

In August, the Department of Justice sued SpaceX, accusing it of discriminating against refugees and asylees in its hiring practices. SpaceX fired back, arguing that the federal government’s lawsuit is unconstitutional.

Kerr said the FCC’s denial of the subsidy “certainly falls within the Biden administration’s pattern of regulatory harassment.”

Another Republican, Nathan Symington, agreed with Kerr and argued that his colleagues at the FCC improperly set SpaceX’s 2025 performance standards three years early.

“What’s the point in having an agreement to build service by 2025 if the FCC can keep it there until 2022 on a whim?” Symington said.

When the FCC initially denied SpaceX’s grant application, Musk’s company had already won approval to provide satellite-based, high-speed broadband Internet service to about 642,000 rural locations in 35 U.S. states. Was. At the time, Rosenworcel expressed concern that Starlink’s internet was not reaching the “promised speeds.”

The agency this week cited some of its concerns over the recent failure of SpaceX’s Starship, which exploded shortly after liftoff last month.

“After a careful legal, technical and policy review, the FCC has determined that this applicant will be eligible for approximately $900 million in Universal Service Funds over approximately 10 years,” Rosenworcel said in a statement. We judged that the burden was not fulfilled.”

Musk personally slammed the FCC’s decision, writing to X that Starlink is “the only company actually solving rural broadband at scale!”

“What actually happened was that the companies that lobbied for this large allocation (not us) thought they were going to win, but instead they lost to Starlink. So now they’re changing the rules so that SpaceX can’t compete,” Musk said.

It makes no sense. Starlink is the only company that is actually solving rural broadband at scale.

They should probably disband the program and return the funds to taxpayers, but not send them to people who aren’t doing their jobs.

What actually happened is that companies…

— Elon Musk (@elonmusk) December 12, 2023

Musk has frequently clashed with the Biden administration since President Biden took office in 2020. The billionaire called Biden a “wet-sock puppet” and accused the president of disrespecting Tesla despite the company’s leading role in the development of electric cars. The government will support you.

Meanwhile, Musk’s business faces multiple federal investigations, including an ongoing investigation by the National Highway Traffic Safety Administration into the company’s Autopilot self-driving assist technology.

Tesla on Wednesday announced a major recall of 2 million vehicles over concerns that the vehicles lacked adequate safety features to “prevent driver misuse.”

Source: nypost.com

FTC warns of increasing QR code scams – Tips to safeguard against them

Posted on December 17, 2023 by Igor Mitreski

Since the COVID-19 pandemic, codes have grown in popularity and their use in the form of paperless menus and invoices has skyrocketed. But the convenience and efficiency of scannable codes comes with threats. Users can easily fall victim to fraud. According to a report by Check Point cybersecurity experts: 587% increase In phishing, or “kissing,” the Federal Trade Commission is also warning consumers who may be putting their personal information at risk. Cybercriminals send legitimate codes (also known as “quick response” codes, traditionally seen as a mix of white and black pixels that direct the scanner to a website) by sending the scanner to a fake site. It can be hidden with a unique code that steals personal and private information. Install malware. Fake codes can be found in public places, such as parking meters, or sent via texts or emails claiming there was suspicious activity on your account or there was a problem with your package delivery. There is also. The coronavirus pandemic has seen a surge in the use of codes, offering consumers a completely paperless way to view menus, pay bills, and fill out forms. adobe stock “We want you to scan a code and open a URL without thinking,” the FTC said. was warned about Wednesday’s blog post. To protect yourself, the FTC advised inspecting before opening them to make sure they haven’t been spoofed by misspellings or transposed characters. The agency also recommends not opening codes from unexpected communications (such as urgent messages indicating problems with your account), keeping your phone updated and enabling two-factor authentication. The FTC warned the public not to scan random codes and to be suspicious of unsolicited communications containing codes. adobe stock The Federal Bureau of Investigation’s September blog post also urged consumers to be skeptical and “suspicious” of codes that request login information after scanning, and further warned consumers not to scan codes that appear to have been “tampered with.” did.

Source: nypost.com

Apple’s latest update includes security measures to protect stolen phones from hacking attempts by thieves

Posted on December 17, 2023 by Igor Mitreski

This is the perfect protection against hacking attacks.

Have you ever felt dizzy thinking your phone might be stolen? There’s no need to worry. Apple has devised a powerful new weapon in the fight against cybercrime. It’s a new IOS update called Stolen Device Protection that prevents thieves from accessing your smartphone with stolen passwords.

“In rare cases, a thief can steal your device by watching you enter your passcode, but Stolen Device Protection adds a sophisticated new layer of protection,” an Apple spokesperson said, says the person. said in a statement.

This bold new security feature, released Tuesday as an iOS 17.3 developer beta, is especially useful when users change their Apple ID password, remove Face ID, or remove other sensitive features. , requires the use of a biometric access code such as a face or fingerprint.

Whenever a user’s device is in an unfamiliar location, stolen device protection is initiated and the user is then required to complete the aforementioned protocol.

“In the rare case that a thief steals your device by watching you enter your passcode, Stolen Device Protection adds a sophisticated new layer of protection,” an Apple spokesperson said. Masu. Denphoto – Stock.adobe.com

As an additional safeguard against “smash-and-grab” operations, users must re-enter their data after an hour to confirm the change, effectively rendering any passcode hacking attempt futile.

Stolen Device Protection is currently only available to beta testers, but will be available to all users once Apple releases the final version of iOS 17.3. TechCrunch reported.

An Apple spokesperson said the move is part of an ongoing campaign to protect smartphone users “as threats to user devices continue to evolve.”

Last month, the release of a new iPhone feature, NameDrop, set off alarm bells. This allows a user to instantly share contact information with his iPhone or Apple Watch nearby, instead of physically handing the phone over to someone.

While it did speed up the information exchange process, viewers became concerned that users were unknowingly sharing their information with unknown iPhone users.

Source: nypost.com

Elon Musk launches STEM-focused K-12 school and university in Austin

Posted on December 17, 2023 by Igor Mitreski

SpaceX CEO Elon Musk plans to establish a STEM-focused elementary and secondary school in Texas before establishing a glittering university “dedicated to the highest level of education,” according to tax filings. Musk, who moved to the Lone Star State from California during the pandemic, is funding the school in Austin with a $100 million donation from a billionaire philanthropic organization called The Foundation, according to tax filings first reported by Bloomberg.

The charity’s name seems to be a nod to the science fiction series written by famous author Isaac Asimov that details the collapse of a ruling empire to make way for the birth of an alternative society, but it is also a mask to the current education system. Fitting given his public criticism.

Last year, the head of Tesla and SpaceX revealed to a liberal university that he was estranged from his 19-year-old daughter, Vivian Jenna Wilson, who recently changed her legal name to avoid association with the world’s richest man. I blamed it.

Musk also said Asimov’s “Foundation” series influenced his decision to start SpaceX 10 years ago with the goal of one day landing on Mars. According to Bloomberg, the foundation’s application to open the school was originally submitted in October 2022 and approved in March, but it’s unclear when the K-12 school will break ground.

A representative for Mr. Musk did not immediately respond to The Post’s request for comment.

The project begins with K-12 schools with a STEM focus: science, technology, engineering, and math. Once it’s up and running, it “ultimately intends to expand its operations and establish a university dedicated to the highest level of education,” according to its application for tax-exempt status with the IRS. Musk said the university will boast “experienced faculty” and “hands-on learning experiences including simulations, case studies, manufacturing/design projects, and labs” woven into the traditional curriculum. Tesla’s president must first seek accreditation from the Southern Association of Colleges and Schools Commission, which accredits degree-granting institutions in many Southern states.

This is not Musk’s first foray into the world of school education. In 2014, the father of 10 co-founded an “experimental” private school called Ad Astra inside SpaceX’s California offices for his five sons and select employees. Ad Astra’s curriculum was unusual, abandoning sports, music and foreign languages to focus on artificial intelligence, coding and applied science. When Musk moved to Texas in 2020, the so-called “world’s most exclusive school” followed suit and was renamed Astra Nova School. The school currently has approximately 200 students.

Mr. Musk faces stiff competition in the state capital, where the main campus of the University of Texas is located. According to Bloomberg, UT Austin was also recently established as an “illiberal” alternative to traditional universities in the United States. UT Austin plans to accept its first class of 100 students next fall. Musk plans to expand further into central Texas with the opening of Snailbrook, a town he is building east of Austin to house Tesla and SpaceX employees, as well as staff from his tunnel-building venture, The Boring Company. A floor plan filed in Bastrop County Commissioners Court in January shows a vision for the village of Snailbrook, a reference to the Boring Company mascot. According to the map, Snailbrook will have 110 homes on what would become Boring Boulevard, Waterjet Way, Porpoise Place and Cutterhead Crossing.

Source: nypost.com

Analyst warns that Google’s major court defeat to Epic Games may lead to reorganization of Big Tech companies due to antitrust concerns

Posted on December 17, 2023 by Igor Mitreski

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One of Google’s most vocal critics says Google’s “catastrophic” antitrust loss this week to “Fortnite” maker Epic Games is a huge blow to Big Tech companies and other companies. This could potentially change the situation completely, potentially exposing the company to a wave of restructuring. Matt Stoller, director of research at the antitrust watchdog American Economic Liberties Project, said the jury’s unanimous verdict that Google maintained an illegal monopoly through the Android app store was a sign that “the truly powerful Big Apple… This is the first time a “tech company” has lost a major antitrust case. case. “There will be appeals and things like that, but I think over the next five years or so Google will start to settle and agree to splits because they know they’re going to lose.” , it’s not worth it. There is a lot of legal uncertainty.” Stoller told journalist Glenn Greenwald on his show “System Update.” “I know there’s a lot of cynicism, but this is actually how we’re going to rebuild these companies,” Stoller added. “It’s kind of amazing that it actually works.” “It’s over.”Google just lost a major antitrust lawsuit brought by Epic Games, the first judgment of its kind against a major tech company.The potential impact on Google, Amazon, Facebook, and other companies cannot be overstated.@MatthewStoller I’ll explain 👇 pic.twitter.com/aaGQ96Bcgu— System Update (@SystemUpdate_) December 13, 2023 Stoller added that the jury’s decision sets an important new legal precedent that is likely to influence the process in a range of antitrust cases facing Google and other large companies. Google is awaiting a judge’s ruling on a landmark Justice Department case targeting its online search empire, as well as separate investigations into its digital advertising business and Google Maps business. “All of a sudden, there’s a precedent and these sneaky judges are going to have to find reasons to rule in favor of Google, whereas before they had to find reasons to rule against Google. Deaf,” Stoller said. “I think all of these lawsuits are going to be overturned, and it’s going to be much harder for Google to win the lawsuits.” As The Post reported, experts say the Google v. Epic ruling could upend the business model that underpins the company’s lucrative Play Store. The Play Store previously charged large companies up to a 30% fee on in-app purchases and required them to: Use your company’s pricing system. Matt Stoller is the research director of the American Economic Liberties Project, an antitrust watchdog group. X/@SystemUpdate_ U.S. District Judge James Donato will next decide which illegal business practices Google must eliminate. A judge could order Google to stop paying major app developers to discourage them from launching competing app stores and suspend billing requirements, among other remedies. . In May 2024, Judge Amit Mehta will decide Google’s fate in a Justice Department lawsuit that alleges it has maintained an illegal monopoly over online search. The Post reached out to Google for comment on Stoller’s comments. Google faces a series of antitrust battles in the future. EPA Meanwhile, Google has already announced plans to contest the verdict in the Epic lawsuit. “Android and Google Play offer more choice and openness than any other major mobile platform,” said Wilson White, the company’s vice president of government affairs and public policy. “This trial makes clear that we are in intense competition with Apple and its App Store, as well as the App Store for Android devices and game consoles.”

“`

Source: nypost.com

Small businesses fill advertising vacuum left behind by departing blue-chip companies on X site

Posted on December 17, 2023 by Igor Mitreski

Small business owners are trying to capitalize on the shift of big advertisers away from X, betting that this will allow them to reach a wider audience on the platform. a source told On the Money.

Amid controversy over anti-Semitism, big advertisers like Disney, IBM and Comcast are siphoning hundreds of millions of dollars in ad dollars from Elon Musk’s social network, while some small business owners He says he is secretly grateful for this drama and is using it as an opportunity. Buy ads cheap.

“I’m not competing with the big boys anymore,” one executive said of the decision to start buying ads on X. “All the top investors and prominent businessmen I want to reach are still on the platform.”

The decline in advertising is a big problem for the company formerly known as Twitter. Although X is pushing growth in other business areas, 75% of the company’s revenue still comes from advertising, and 80% of advertising revenue comes from advertising for large companies, the source added.

Although X is driving growth in other business areas, 75% of the company’s revenue still comes from advertising. Paola Morongello

Bloomberg reported this week that X is expected to earn $2.5 billion in ad revenue this year, which is lower than the $3 billion advertisers expected it to earn this year, and that X will earn $4 billion in ad revenue in 2022. It is said that it will not reach much. .

But X is leaning toward disaster for lack of a better option, and I added a blog post to that effect this week.

“We want to do more for SMBs. With X, we are positioned to be the single interface for SMBs.”

An X spokesperson highlighted the fact that small and medium-sized businesses can easily buy advertising on the platform without going through an agency, don’t have to sign long-term contracts, and can spend whatever amount they want.

One advertiser said some amount of hate speech on the platform was “inevitable” but said the return of conspiracy theorist Alex Jones was enough to make them temporarily reconsider their ad spend. . “I’m furious with Elon…why would he do something like that?”

Last month, Musk told advertisers to “pick themselves up.” Even though he acknowledged that the platform could fail without advertisers.

When it comes to user experience, many people at X say they’ve seen a hodgepodge of random advertisers lately.

“I’ve received the most random ads – Invest Qatar, Investor’s Edge, Next After – and I’ve never heard of any of them,” said one source who started noticing the random ads. “It’s like we’re scraping the bottom of the barrel.”

Source: nypost.com

GM’s autonomous taxi division, Cruise, cuts 900 jobs as it faces challenges.

Posted on December 17, 2023 by Igor Mitreski

General Motors’ cruise self-driving car unit is restructuring and cutting costs after several safety incidents in San Francisco, resulting in over 900 layoffs, or about a quarter of its workforce. The subsidiary announced the layoffs in a letter from president and chief technology officer Mo El-Shenawy to Cruise’s 3,800 employees, stating that the layoffs were not the fault of the employees.

The layoffs come after Cruise acknowledged that nine key leaders are no longer with the company as an investigation into an October accident involving one of the company’s driverless robotaxis continues. “We are first simplifying and focusing our efforts to provide great service in one city,” El-Shenawy wrote in the letter. The measures follow an analysis of the October crash and response after a Cruise robotaxi struck and injured a pedestrian.

California regulators allege that Cruise concealed the severity of the October accident, and robotaxi services are also being investigated by US auto safety regulators. The employment measures include additional pay and benefits for laid-off employees.

“Today is one of the most difficult days yet as so many talented people are retiring,” El-Shenawy wrote. Cruise has faced significant turmoil in recent months, and General Motors is absorbing huge losses while developing a driverless service. GM plans to slow spending at Cruise, which it acquired eight years ago. For the first nine months of this year, Cruise posted a pretax loss of $1.9 billion.

Source: nypost.com

The new Airbus A321neo plane from Delta Air Lines includes AirPod technology

Posted on December 17, 2023 by Igor Mitreski

Now listen to this.

cookie dough brands If you fly on Delta’s new Airbus A321neo, you can use Bluetooth technology to connect your Apple AirPods to Delta’s seatback TV screen.

Delta’s A321neo, which began accepting commercial flyers in May 2022, features smooth leather recliners in first class, wide privacy dividers between seats and 13-inch high-definition touchscreen monitors.

TikToker Elise Brulotte On my Wednesday trip from Seattle to Honolulu, I was captivated by the in-flight entertainment.

“Finally, I can now watch movies on my AirPods on Delta’s new plane,” Brulot, who co-founded Hot Take Cookie Dough with her sister, wrote in a text. on her TikTok.

“As someone who has never bought over-ear headphones, I’m already blown away. Game changer,” she emphasizes in the caption of her video, which has been viewed over 520,000 times on TikTok. .

“The A321neo is our first aircraft to offer Bluetooth connectivity, available in the first class cabin,” a Delta representative said in a statement.

Bluelott told the Post that he was happy to see Delta Air Lines “achieve something I’ve wanted for a while.”

“I wish more airlines would integrate this feature, but it seems like a no-brainer to me,” Brulot said. “I’ve never seen it on a plane before, so it was very refreshing! I’ll be looking for more from now on.”

Delta Air Lines began commercial flights with the Airbus A321neo in May 2022. Getty Images

As of NovemberDelta Air Lines operates 35 A321neos and has a contract to purchase 155 of the aircraft through 2027.

The 194-seat aircraft features 20 domestic first class seats, 42 Comfort+ seats and 132 main cabin seats.

The in-flight entertainment system is It said it was loaded There are over 500 movies and over 100 TV series.

Meanwhile, Apple launched AirPods, wireless Bluetooth earphones, in 2016.

Brulotte’s 300,000 TikToker followers shared their experiences with AirPod technology on other flights.

“I ate this on a United Airlines flight. It changed the game,” one flyer said.

“The new Virgin Airlines has this and I was very happy (lol),” laughed the next.

“We just did this on Emirates!” exclaimed a third.

Source: nypost.com