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Will other US companies follow Starbucks’ lead in making major progress in union negotiations?

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Starbucks has been actively resisting unionization efforts for over two years, but now they seem willing to engage in negotiations.

In a surprising move, Starbucks and its union released a joint announcement at the end of February, expressing a willingness to make progress on organizing and collective bargaining.

The union representing Starbucks employees announced plans to resume direct negotiations with the company in late April to establish a basic framework agreement involving over 400 unionized stores.

This development has brought hope not only to Starbucks employees but also to workers at companies like Amazon, Trader Joe’s, and REI, who have been struggling to move contract negotiations forward.

The possibility of Starbucks potentially unionizing after years of aggressive anti-union tactics has sparked curiosity about which company may follow suit in the future.

Claire Chan, an REI employee, expressed excitement about the progress, highlighting the persistence required to bring a company like Starbucks to the negotiating table. She described it as a significant step forward.

John Logan, a labor studies professor, remains cautious about Starbucks’ intentions and whether they will truly commit to ending anti-union practices and reaching an initial contract.

The union representative for Starbucks, Michelle Eisen, remains optimistic about the future collaboration between Starbucks and the union, emphasizing the importance of valuing employee input for business success.

Starbucks has offered a settlement to the union following backlash over union-busting allegations, stock price declines, and disruptive strikes, showing a potential shift towards supporting unions.

Legal experts and union representatives see Starbucks’ possible unionization as a significant step that could inspire other companies to consider similar actions.

Overall, the announcement from Starbucks has far-reaching implications for workers’ rights and the future of unionization in major corporations.

Source: www.theguardian.com

Swiping addiction causing misery: Lawsuits against dating app companies are no surprise

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○Six individuals filed a lawsuit in the United States on Valentine’s Day this year against Match Group, the company responsible for popular dating apps like Tinder, Hinge, and Match. The lawsuit claims that these dating apps employ game-like tactics that promote addictive behavior, turning users into swipe addicts.

Match Group has refuted these allegations, dismissing them as “ridiculous.” However, for those who have used these apps intermittently over the years, similarities between love algorithms and online gaming are apparent. The lawsuit suggests that users are essentially the products of these apps.

Dating apps may have ingrained addictive qualities from their inception. Tinder’s co-founder revealed being inspired by a psychology experiment involving pigeons. Experts note how gamification within dating apps triggers the release of mood-enhancing neurochemicals like dopamine and serotonin in the brain, contributing to their addictive nature.

The lawsuit argues that users are conditioned to constantly seek dopamine rushes from each swipe, creating a “pay-to-play” loop. This dynamic may explain why features like Hinge’s “Most Compatible” often pair individuals unlikely to connect in real life, prompting users to consider options like “freezing” or “resetting” their activity.

While dating apps prioritize profit over fostering genuine connections, many individuals continue to engage with these platforms despite potential negative impacts on their mental health. Dating app addiction has negatively influenced the lives of individuals in their late twenties and early thirties, perpetuating harmful expectations and perceptions about relationships.

Reflecting on personal experiences, the writer acknowledges the detrimental effects of dating apps on self-esteem and mental well-being. The prevalence of superficial interactions and commodification of individuals on these platforms undermines fundamental aspects of romantic love and communication.

Despite the allure of digital options for potential partners, the endless search for something better perpetuates instability and indecision in modern dating culture. The proliferation of dating apps has reshaped relationship dynamics and eroded foundational principles of respect and communication.

Although the writer has personally disengaged from dating apps, the pervasive influence of these platforms remains palpable. Observing the impact of dating app culture on societal norms and individual interactions underscores the importance of mindful engagement and genuine connection in contemporary dating.

Amidst the complexities of modern dating, the writer encourages a balanced approach to dating apps, emphasizing the need to prioritize authentic connections over algorithm-driven encounters. It is essential to recognize that these apps may not always align with users’ romantic aspirations.

Source: www.theguardian.com

FTSE companies urge executives to increase pay and bonuses beyond £17m

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TIt comes as pharmaceutical group AstraZeneca last month cemented chief executive Pascal Soriot’s place as the highest-paid FTSE 100 company leader by increasing his pay by £17m, up from £15.3m a year earlier. It was a shocking moment. This award brings the total amount earned since joining in 2012 to £137 million.

This angered corporate governance experts, but Mr. Soriot’s generous compensation was only a fraction of what he would take home at some of America’s largest companies. Sundar Pichai of Google’s parent company Alphabet is the highest-paid boss on the U.S.-based S&P 500 index, with a paycheck of $226 million in 2022.

This gap is being used to fuel concerns about London’s ability to attract and retain global talent and to strengthen demands in boardrooms to increase executive pay to compete with Wall Street-level salaries. There is.

There is growing concern in the city following a series of defections in recent years. Top executives went across the Atlantic to rival companies, and London-listed companies moved to U.S. stock exchanges. With more money and less shareholder oversight, companies have more control over compensation systems.

Salary comparison of listed companies

“Anecdotally, this competitiveness issue has been a topic of discussion for many years,” says Andrew, who speaks on behalf of pension fund managers and other large shareholders as head of industry body the Investment Association.・Ninian said. “But in reality, we are hearing more and more cases where companies are having a hard time finding the right talent and competing for talent.”

For example, medical device maker Smith & Nephew lost chief executive Namal Nawana in 18 months after a 2019 scandal over demands for high pay commensurate with his U.S. peers. The company reportedly considered moving to the US, where it would be easier to increase his £6m package, but scrapped the plan and Mr Nawana resigned.

Source: www.theguardian.com

AI Companies Will Be Required by Labor to Share Test Data on Their Technology

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Labor is planning to require artificial intelligence companies to share the results of their road tests with authorities, replacing voluntary testing agreements with a statutory system. Peter Kyle, the shadow technology secretary, emphasized the need for greater transparency from tech companies, particularly in the wake of Brianna Gee’s murder.

Under Labor’s proposals, AI companies would be required to disclose their plans for developing AI systems and ensure safe testing under independent oversight. The testing agreement announced at the Global AI Safety Summit was supported by the EU and other countries, including the US, UK, Japan, France, and Germany.

During a visit to the United States, Kyle emphasized the importance of test results in providing independent scrutiny of cutting-edge AI technology. He stressed the need to ensure the safe development of technology that will have a significant impact on workplaces, societies, and cultures.

Tech companies that have agreed to test their models include Google, OpenAI, Amazon, Microsoft, and Meta. Kyle also highlighted the role of the British AI Safety Association in independently scrutinizing AI development.

“We are moving from voluntary regulations to statutory regulations,” Mr Kyle told BBC One’s Sunday with Laura Kuenssberg. We can find out what they’re testing for, so we know exactly what’s going on and where this technology is taking us.”

At the first Global AI Safety Summit in November, Rishi Sunak announced voluntary agreements with major AI companies such as Google and OpenAI. Under Labor’s proposals, AI companies would be required to disclose their plans for developing AI systems and ensure safe testing under independent oversight.

He added: “Some of this technology will have a profound impact on our workplaces, societies and cultures. And we need to ensure that its development occurs safely.”

Source: www.theguardian.com

UK Officials Call for AI Companies to Safeguard Creatives’ Work

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Ministers must protect content creators whose work has been used without permission by tech companies for AI products like chatbots, which generate significant financial gains, according to a House of Lords committee.

The Lords Communications and Digital Committee stated that the UK’s legal framework is failing to uphold copyright principles as AI development progresses.

The commission highlighted that high-tech companies are using copyrighted materials without authorization and reaping substantial benefits.

Copyright has become a crucial issue in the development of generative AI, which involves creating text, images, and audio from human commands.

The committee called for government action against copyright infringement and urged for an update to the legal framework to prevent such outcomes.

Additionally, the committee recommended that the government evaluate whether the current copyright law adequately safeguards the rights of copyright owners and consider amending the law if there is legal uncertainty.

Furthermore, the Intellectual Property Office of the government is working on a code of practice for copyright and AI. The Copyright Act of 1988 exempts text and data mining for “non-commercial” research, but the government had initially planned to extend this exemption to all uses in 2022, which has since been withdrawn.

In the US, OpenAI, the developer of ChatGPT, is facing lawsuits for alleged copyright infringement, as it has been accused of using copyrighted material to create its tools. Similarly, Microsoft and other companies have emphasized the potential negative impacts of restricted access to data on the functionality of AI models.

The committee also cautioned the government about the prolonged technological disruption caused by AI and the need to prevent the concentration of market power in a few companies’ hands.

A government spokesperson indicated that the Intellectual Property Office has been collaborating with stakeholders to formulate voluntary regulations on AI and copyright, aimed at facilitating the thriving coexistence of AI and creative industries.

Source: www.theguardian.com

UN Secretary-General condemns big tech companies for prioritizing profits over ethics in AI development at Davos 2024

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The pursuit of profits from artificial intelligence by big technology companies is reckless. Urgent action is necessary to mitigate the risks from this rapidly growing sector, the UN chief has warned.

UN Secretary-General António Guterres issued a scathing attack on technology multinationals during the World Economic Forum meeting in Davos. He stated that each advance in generative AI has heightened the threat of unintended consequences.

Guterres connected the risks related to AI to those posed by the climate crisis, highlighting that the international community lacks a strategy to address either issue.

During the WEF in Switzerland, the UN Secretary-General appealed to technology industry representatives in the audience to collaborate with governments in establishing guardrails for AI.

He referred to a warning in an IMF report, saying, “This technology has great potential for sustainable development, but it is very likely to exacerbate inequality.”

Guterres argued that influential technology companies are prioritizing profits without regard for human rights, personal privacy, and social impact.

While tech companies claim to have preventive measures in place to stop AI from being used for crime or other nefarious purposes, Guterres insisted that more action is necessary, urging governments and international organizations such as the United Nations to play a role in ensuring that AI is a force for good.

He emphasized the need for governments to work with technology companies to develop a risk management framework for current AI developments and to monitor and mitigate future damage, as well as to increase access to AI to bridge the digital divide.

Sam Altman, an executive at OpenAichief, highlighted the requirement for energy breakthroughs to meet the future demands of AI. He underlined the need for climate-friendly energy sources such as nuclear fusion, cheap solar power, and storage.

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Guterres also criticized fossil fuel companies for impeding progress on climate change and stressed the importance of phasing out fossil fuels for a just and equitable transition to renewable energy.

In summary, Guterres highlighted the need for a significant global strategy to address the threats posed by climate change and uncontrolled AI.

Source: www.theguardian.com

The Post Office Horizon Scandal: Valuable Lessons for Big Tech Companies to Learn

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TThe Post Office Horizon scandal has long been a frustrating one to follow as a technology reporter. Because even though it stems from the failure to deploy a large-scale government IT project, it’s not about technology at all.

In such stories there is a desire to uncover the specific fault lines that caused the disaster to occur. Taking Grenfell Tower as an example, the entire system was flawed and the investigation into the fire revealed gory details, but it is also clear that the fatal error was in covering the building with combustible panels. Identifying that fulcrum leads both ways to further questions (how were the panels deemed safe, and was the building able to be safely evacuated despite their flaws?), but the catastrophic It is clear where it is.

I feel like there should be comparable focus points in the Horizon system. “What happened at Horizon that led to so many false accounts?” is a question I’ve asked many times over the decade since I first learned of the scandal. Thanks to Computer Weekly for the coverage. I searched for systems in the hopes of finding some important crux, a terrible decision around which all subsequent problems swirl, that could be sensibly explained to provide a technical foundation for a very human story of malice and greed. I’ve been looking into architecture.

Still, the conclusion I’m forced to draw is that Horizon was really, really broken. From toe to toe, the system was terrible. Each postmaster had fundamentally different flaws, so a plethora of technical errors, worst practice decisions, and lazy cutbacks were probably part of the reason the Postal Service continued to fight for so long. Masu.

One system continued to accept input even when the screen froze, writing transactions to the database invisibly, while other systems simply had edge-case bugs in the underlying system that caused transactions to change. It just couldn’t lock when it shouldn’t have. There was also a problem with the network with the central database, causing transactions to be dropped without warning whenever there was a problem with the data connection.

Still, if you want to trace the point in time when bad IT became a crisis, you need to look completely into the technology past. The Post Office declared Horizon to be functional as legal tender. Everything that happened after that was a logical conclusion. If Horizon works, the cause of the error should be in the subpostmaster operation. If they say they haven’t made a mistake, they must have committed fraud. If they committed fraud, a conviction is morally right.

But Horizon didn’t work.

Today’s big technology companies aren’t so cocky as to claim that their software is perfect. In fact, the opposite is accepted as reality. The phrase “all software has bugs” is repeated too often and casually, implying that users are demanding too much of the technology they rely and work reliably on.

But they often still act as if they believe the opposite. My inbox is constantly filled with unmanageable people who have been falsely flagged as spammers, scammers, or robots by Facebook, Google, Amazon, and Apple’s automated systems. These people have lost years of shopping, lost access to friends and family, and lost the pages and profiles on which they built their careers. I can’t help them all and still do my day job, but strangely enough, the cases I decide I can contact a large company for are almost always easily resolved. It turns out.

No one would argue that even the worst software Google has put out is as broken as Horizon. (The Post Office says the current version of the software, created in 2017, has been found to be “robust compared to comparable systems.”) But the real culprit is broken software with flaws. If you’re acting like something isn’t supposed to be there, that’s serious. The tech industry may have more lessons to learn from this scandal than it’s willing to admit.

Source: www.theguardian.com

Technology companies express concerns over potential “irreparable harm” due to White House-backed sales suspension of Apple Watch | Science and Technology News

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Apple expressed concerns about potential “irreparable harm” after the White House backed a ban on imports of certain watches due to a dispute over blood oxygen technology.

The tech giant has submitted an emergency motion to the court, seeking permission to continue selling two popular models, the Series 9 and Ultra 2, until the patent dispute with medical monitoring tech company Masimo is resolved.

Apple has requested the ban to be temporarily lifted until U.S. Customs determines whether a redesigned version of its watch infringes Masimo’s patents, with a decision expected on January 12th.

Masimo has accused Apple of stealing pulse oximetry technology for monitoring blood oxygen levels and incorporating it into their watch, as well as luring some of its employees to switch to Apple.

The US ITC has ordered a ban on the import and sale of models utilizing blood oxygen level reading technology.

Wealth management analyst Dan Ives stated that the halt in watch sales before the holiday season could cost Apple $300-400 million, but the company is still expected to make nearly $120 billion in sales for the quarter, including the holiday period.

Read more:
– Have an old iPhone? You could be entitled to compensation in a UK court case
– Apple updates iPhone 12 software after radiation test

U.S. Trade Representative Katherine Tai upheld the ITC’s decision, but previously purchased Apple Watches with blood oxygen measurement capabilities are not affected by the ban.

Apple contests the ITC’s decision, claiming it is based on factual errors and that Masimo does not sell significant quantities of competing products in the U.S., and would not be harmed by a ban on orders.

Source: news.sky.com

Nine new IndieBio companies from New York to pitch to venture capital next month

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It was a complete coincidence that a few months before the pandemic spread across the world. indie bio — A startup accelerator specializing in startups that use biology to solve big problems — expanded Its authority was to add a New York division to operations already conducted outside San Francisco. Of course, thanks to what the world has endured, life sciences startups are in the spotlight now more than ever. So readers thought he might be interested in giving a sneak peek at the latest startups that IndieBio NY is preparing to introduce to investors.almost One month.

If you’re a founder, a venture capitalist, or just an interested industry observer looking for insight into what’s happening in a variety of related fields such as agriculture, diagnostics, carbon and methane upcycling, cancer treatment, etc. If so, check out what the nine teams have been up to so far. I’m working on it.

IndieBio’s previous breakthrough startups include cultured meat company Upside Foods. $400 million Led by two sovereign wealth funds that valued the company at more than $1 billion last year, MycoWorks, a company that makes leather from fungi, closed a $125 million Series C round last year at an undisclosed valuation. did.

Here’s a quick snapshot of each:

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FREZENT Biological Solutions

FREZENT said it is developing a new class of bispecific antibodies that target dormant cancer cells that survive chemotherapy and can cause recurrence. The approach is to block the metabolism of dormant cancer cells, preventing their reactivation and survival. The team is currently focused on monoclonal antibody discovery and proof-of-concept studies. Click here for details.

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Xias Bio Limited

according to Cias Bio, the three most important proteins in skin and hair care products, collagen, keratin, and elastin, are typically derived from cow skin, chicken feathers, and meat processing by-products (breck). In light of growing concerns about greenhouse gas emissions, water pollution and deforestation, a new generation of cosmetics consumers want the industry to replace animal proteins with sustainable alternatives, and Xias Bio We are responding to that request. Specifically, we developed a molecular platform to create and license multifunctional proteins that are free of animal-derived components. L’Oreal buys what it already sells. The startup’s founders have since said that the idea is to go beyond cosmetics to replace animal protein in many other sectors, including the pharmaceutical and food industries.

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serious farming

Earnest Agriculture says it has engineered a microbial consortium that protects crops from disease, pests and drought while improving soil health. The group claims that applying these patented microorganisms as a seed coating will increase yields seven times, reduce the use of synthetic chemicals and make crops more resilient to climate change. Click here for details.

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biometallica

biometallica’s pitch That means tens of millions of tons of electronic equipment are thrown away every year, much of it incinerated, releasing billions of dollars of recoverable material in the smoke. Not to mention the release of toxic gases. This startup’s eco-friendly solution to recovering some of these rare metals (palladium, platinum, rhodium) is a biochemical that separates palladium group metals (PMG) from e-waste, including used catalytic converters. It uses genetically modified bacteria that produce .

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Affinia

Affinia has developed and patented a blood test for early diagnosis of endometriosis. This blood test will provide results within a few days. The company says it will be available starting next year in clinics and through home collection kits. As with many women’s health startups, if all goes to plan, the team’s endometriosis testing will be just the beginning. The idea is to build a digital platform that provides diagnosis, virtual care, and prescription delivery for endometriosis and other conditions. Click here for details (Note that the startup was originally called AIMA and has not updated its site yet).

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carbon bridge

Freight carriers are already ordering methanol-powered ships to meet EU emissions standards, but uptake has been slow because green methanol cannot compete with oil on price. carbon bridgeThe solution to the challenge is described as a low-temperature, low-pressure microbial process that uses a bioreactor to upcycle carbon dioxide and methane into liquid methanol. Furthermore, it is said that gas can be procured cheaply from all over the world. 16,000 Wastewater treatment facilities in the United States typically burn it off.

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Equol

Aequor has discovered a marine microorganism that produces a molecule that removes bacterial slime in minutes, and when applied to water treatment facilities, the concentrate reduces traditional chemical usage by 90% and reduces energy usage. It says that it can reduce the amount of slime by up to 15% and prevent the formation of slime. The filter may become clogged and cause a shutdown. The larger goal is to enable access to safe and affordable drinking water while reducing the cost and environmental impact of water treatment. Click here for details.

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unibio

Almost all farmers$230 billion Herbicides, pesticides, and fertilizers designed to increase crop yields are used every year, but the unintended consequences are well documented. not good. unibio They say there are better alternatives. The company says it has developed natural microparticles that can enhance biological crop protection agents by allowing them to penetrate plants more efficiently and reducing the amount of traditional chemicals required by up to 80%. It is said that it was developed.

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Terra Bio Industries

discarded food account 8-10% As the founder of Terra Bioindustries talks about greenhouse gas emissions. That’s why the company has developed a platform to upcycle brewing spent grain, a byproduct of beer that is difficult to sell. It works through a low-energy enzymatic process that separates the grain into edible sugars and proteins, which are then sold to food manufacturers and precision fermentation companies. Installation costs are also low by using commercial equipment found in most food processing facilities. Click here for details.

Source: techcrunch.com

Bestwell secures $125 million in funding to aid in the advancement of workplace savings programs for companies

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Bestwell, which provides infrastructure for employers to promote workplace savings programs, has raised $125 million in what the company calls a “pre-emptive” funding round.

Lightspeed Venture Partners led the round, with participation from existing backers Fin Capital, Primary Venture Partners, and FinTech Collective, as well as new investors Blue Owl and HarbourVest.

The New York-based fintech company declined to reveal its valuation.

As part of this round, Justin Overdorff, Lightspeed’s lead fintech partner, joined Vestwell’s board of directors.

bestwell CEO Aaron Schumm founded the company in 2016 and launched its cloud-native platform in 2017. In this latest round, he raised $227.5 million.

Shumm declined to provide specific revenue numbers, but told TechCrunch via email that the startup: “We achieved revenue growth of over 1,000% in three years.”

“ARR and sales will also increase by more than 100% in 2023,” Schumm said, noting that the company is “on the path to profitability in the near term.”

bestwellHe added, “Prior to this pre-empted Series D funding, it was funded through profitability.” The company’s last raise was a $70 million Series C round in 2021.

More than 1 million employees at 300,000 companies use the Vestwell platform, which the company says has contributed to nearly $30 billion in asset savings over time. The company operates in partnership with financial institutions such as Morgan Stanley and JPMorgan, state governments, and payroll companies, and generates revenue for Bestwell through per-employer or “per-saver” monthly fees. . Bestwell says that as a partner extension, it enables an array of programs that include retirement, health, and education, including 401(k), 403(b), IRA, 529 Education, ABLE disability programs, and emergency savings programs. There is.

Earlier this year, JPMorgan used Bestwell to expand its 401(k) product.

“We help these companies migrate away from outdated legacy platforms, giving them a competitive edge when entering severely underserved markets,” Schum said. states.

Schum said Bestwell’s public-private partnerships are increasingly driving the company’s business by giving state governments a way to provide a “personalized savings experience.”

“We are now a leading partner in this space, currently powering 80% of the Live State Auto IRA savings programs in this country,” he said.

The company will use the new funding to expand its National Savings and other public savings program initiatives, enhance existing products and develop new products. About half of the new funding will go toward acquisitions, Schumm said. July, Bestwell Acquires student loan benefit provider Gradifi It was acquired from Morgan Stanley for an undisclosed amount.

Vestwell has just over 350 employees and has grown its team size by approximately 40% in the last year.

Lightspeed’s Oberdorf said the company was “deeply impressed with Bestwell” and impressed by the company’s “groundbreaking infrastructure-first approach to solving America’s systemic savings problem.” He said he received it.

“They are undeniably a dominant player and a true disruptor when it comes to the world of savings. Lightspeed is excited about our investment. I am proud to join the board and look forward to accelerating this I look forward to working closely with Aaron and his team to bring the company together. ”

Want more fintech news in your inbox? Sign up for Interchange here.

Source: techcrunch.com

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

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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.”

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Source: nypost.com

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

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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

Companies in San Francisco are progressing with a new wave of innovation

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The cycle begins anew, with up-and-coming companies taking over prime office space. “I’ve been selling rugs for 17 years, so I have some negotiating skills.”

Connie Loizos

@cookie
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7 hours

10 years ago, pear VCAt the time, it was a small new venture operating out of a nondescript Palo Alto office enlivened by bright computer-themed art.This costume was sold out last week largest fund As of May, it had quietly signed a deal with file storage giant Dropbox to sublease 30,000 square feet of Class A office space in San Francisco’s Mission Bay neighborhood.

It’s one of the fastest-growing companies taking up more space in San Francisco while previous generations of companies have shrunk their physical footprints.

First issue of the San Francisco Chronicle report OpenAI, the creator of ChatGPT, also just subleased two buildings totaling 486,600 square feet from Uber last week. The ride-hailing giant initially leased four buildings along the street from Dropbox, and will continue to occupy two of the buildings, which the company told the paper is “the right size.”

Meanwhile, OpenAI’s rival Anthropic has also just reportedly Large sublease contract. The plan is for him to take over his entire 250,000 square foot building in downtown San Francisco, which was previously Slack’s headquarters.

Salesforce, which acquired Slack in 2021, is an investor in Anthropic. Meanwhile, his Pejman Nozad, co-founder of Pear VC, was still relatively new to the United States from Iran and selling Persian rugs to Silicon Valley bigwigs when he sent his first check to Dropbox. I rolled one. However, such subleases don’t necessarily start with a handshake deal. When Nozad asked if his connection to Dropbox drew him to Pear’s new space, he scoffed. With space for more than 200 desks, more than 20 conference and call rooms, and a dedicated event space to host speakers, the office “was a business deal for them,” Nozad said. . “The founders were not involved. You know, I’ve been selling rugs for his 17 years, so I have some negotiating skills,” he adds with a laugh.

Certainly, if you are a growing company with deep pockets, this is a good time to enter into a sublease agreement. Sublease rates in prime locations such as Mission Bay and the city’s financial district currently range from $60 to $80 per square foot, said Colin Jaskoci, executive director of commercial real estate services firm CBRE. The higher the floor and the more amenities, the higher the price. Conditions are better for startups willing to sublease space with fewer than five years left on their lease (because they will need to lease it again somewhere else in the not-too-distant future). By contrast, office rents were above the $75 per square foot level in September 2019, before the pandemic upended the city.

There is no shortage of options at this point. San Francisco’s commercial buildings are currently 35% vacant, and more tenants are still leaving than moving in.

However, a turning point appears to be in sight. There was 1.85 million square feet of “negative net absorption” in San Francisco in the third quarter of this year, according to CBRE data. At the same time, market demand reached 5.2 million square feet, the largest increase since the first quarter of 2020. Much of that change is due to companies like OpenAI, Yasukochi suggested, and a flurry of new equipment has begun. The opportunity to rent a swanky space in a more central part of the city for the same or better price than a few years ago prompted him to set up shop. “This is a huge opportunity for companies looking to bring back their employees,” Yasukochi said. (OpenAI CEO Sam Altman has long said he believes hiring employees makes companies more efficient.) convene directly.)

In fact, Yasukochi predicts that if the economy improves and interest rates fall in the second half of the new year, tech companies in particular will recover more quickly, and cities will also be dragged along. “Many technology companies quickly shed excess employees, along with real estate and other costs,” says Yasukochi. He also said that tech companies are generally “faster to cut back, but also faster to grow.” I can’t think of any other industry where technology is driving so much growth. ”

Worth noting: Yasukochi doesn’t necessarily think these tech companies will grow in San Francisco’s Hayes Valley. The district has led a resurgence of interest in San Francisco this year, enthusiastically embracing the nickname “Celebrity Valley” due to its concentration of AI communities, but most of those teams “congregate in restaurants and bars.” “We’re training,” he observes. The state of their apartment. There’s not much office space there. ”

Pictured above: 1800 Owens Street in San Francisco. It’s home to Dropbox’s headquarters and is currently home to Pear VC’s San Francisco office.

Source: techcrunch.com