Apple Axes Pay Later, Aims at Global Installment Loan Expansion

TECH BRIEF

Meta Halts AI Training in EU Amid Data Privacy Concerns (5 minutes read)

Meta has agreed to halt its AI training using European users' Facebook and Instagram posts, complying with requests from European regulators. Meta criticizes this as a setback for European innovation, as the development results from data protection complaints in 11 European nations. The stoppage delays Meta's AI launch in Europe, while training continues elsewhere utilizing users' public posts. The decision also hampers Meta's ability to understand European languages, cultures, or trending topics, resulting in a lesser experience for European users of the platform.

Mailchimp's Ben Chestnut Unveils Journey to $1B ARR and $12B Acquisition (15 minutes read)

In a recent fireside chat, Ben Chestnut, Mailchimp's Co-Founder, discussed the company's journey to $1B ARR and its $12B acquisition by Intuit. Chestnut shared insights into how MailChimp navigated various challenges, from rejecting VC funding to making a successful entry into the eCommerce world. He emphasized the importance of product tinkering, listening to customers, and securing key hires to drive growth. Moving forward, Chestnut anticipates MailChimp's further integration into QuickBooks as part of its sustained growth strategy.

Apple Axes Pay Later, Aims at Global Installment Loan Expansion (3 minutes read)

Apple has halted its "buy now, pay later" service, Apple Pay Later, which was only available in the U.S. Existing loans can be managed via the Wallet app. Apple will focus on introducing global installment loan offerings, accessible through Apple Pay with credit/debit cards or lenders such as Affirm, launching later this year. These new features will provide flexible payment options in more locations worldwide.

Adobe Revamps Acrobat with Firefly AI, Boosts Image Generation Capabilities (3 minutes read)

Adobe's iconic PDF editing software, Acrobat, is getting a functionality boost. The company's AI platform, Firefly, will improve the software's compatibility with Word, PowerPoint, and text files, among other document types. The update also includes tools for creating and editing images via text prompts within PDFs. Additionally, Adobe's meeting transcript tools will provide ""generative summaries"" to highlight crucial meeting aspects. Adobe will offer free access to all the new features from June 18 to June 28.

Apple Unveils Next-Gen Wireless CarPlay: Tech-Auto Collaboration in 2024 (5 minutes read)

Apple unveiled its next-gen CarPlay at WWDC 2024, presenting a strictly wireless interface for a more comprehensive infotainment experience. The new design includes a customizable ""punch-through UI"" and enhanced features such as HVAC controls and 360 cameras. Aston Martin and Porsche have partnered with Apple, aiming to offer the "ultimate" iPhone experience, courting tech and automotive industry convergence despite contrary trends by Tesla and General Motors.

Perplexity Expands in Japan as SoftBank Offers Free AI Search Subscriptions (5 minutes read)

AI search engine Perplexity has intensified its international expansion through alliance with SoftBank in Japan. Y!mobile and LINEMO plan to offer free subscriptions to premium Perplexity Pro for one year from June 19. Apart from SoftBank, Deutsche Telekom is also a partner, highlighting widespread telecom interest in collaborating with AI firms. Perplexity raised nearly $63 million in April, and is currently raising another capital of at least $250 million, eyeing a valuation of $2.5 - $3 billion.

RunwayML's Gen-3 Alpha AI Catches Up to OpenAI's Sora in Video Generation (8 minutes read)

Runway has launched Gen-3 Alpha, an improved AI model for video generation that can generate human characters with a variety of actions and emotions. It's the first model in a series based on a new training infrastructure for large multimodal models. Gen-3 Alpha also offers enhanced security features along with additional creative tools for greater control over style and motion. Customized versions for industry customers are also on offer.

OpenAI Unveils Free ChatGPT Upgrade, Offers PDF Analysis and Summaries (5 minutes read)

OpenAI's free version of ChatGPT is now capable of summarizing, analyzing, and understanding hefty PDF files, following a recent upgrade. The chatbot can respond to specific queries on any document, producing engaging summaries. In an effort to make AI tools more accessible, OpenAI has also premiered a new AI model, ChatGPT Edu, designed specifically for universities, offering advanced educational features.

ByteDance Sheds Indonesian Staff Post Tokopedia's E-commerce Merger (2 minutes read)

ByteDance, TikTok's parent company, is set to lay off staff in its Indonesian unit following the acquisition and integration of local e-commerce firm, Tokopedia. The number of affected employees remains undisclosed.

QUICK

SpaceX to Rollout Affordable Starlink Mini Dish, Announces 50% US Discount - SpaceX plans to launch a cost-friendly Starlink mini dish with 4K streaming capabilities soon. The dish will be portable, and the company has introduced aggressive pricing strategies, offering discounts up to 50% on certain plans.

Google Chrome Unveils 'Listen to This Page' Feature with Upgraded Controls - Google Chrome for Android introduces 'Listen to This Page' feature, helping users listen to webpages with podcast-like controls and multiple language support, enhancing browsing convenience and accessibility.

Apple Watch 10 Predicted to Sport Larger, Slimmer Design - Apple analyst Ming-Chi Kuo predicts the Apple Watch 10, set to launch in September, will feature a larger screen, a thinner design, and potentially utilize 3D-printed parts for improved manufacturing efficiency.

Reddit's New Conversation Ads Boost Brand Engagement and Drive Sales - Reddit has revamped its conversation page ads, introducing "Conversation Ads" and new machine learning-based safety controls.

Terraform Labs' CEO settles with SEC for $4.5B Amid Crypto Fraud Fallout - Do Kwon, Terraform Labs' co-founder, has settled a $4.5 billion lawsuit with the US Securities and Exchange Commission for the collapse of cryptocurrencies terraUSD and luna, costing investors $40 billion overnight.

TikTok Boosts Brand Opportunities with AI-Generated Avatars - TikTok is expanding its Symphony suite, introducing AI-generated avatars for brands and creators. The platform's new tool includes AI-dubbing, facilitating content translation in over 10 languages to reach larger audiences internationally.

Naver's Webtoon Targets $2.67B Valuation in US IPO - Webtoon Entertainment, majority-owned by Naver, seeks a $2.67 billion valuation in its US IPO, hoping to raise $315 million. The online comics platform aims to list on the Nasdaq as "WBTN".

TravelPerk Acquires US Rival AmTrav, Secures $135M For Expansion - TravelPerk acquires Chicago-based startup AmTrav, bolstered by a $135m debt financing round from Blackstone and Blue Owl, to intensify its U.S. expansion efforts.

AI Replaces Writers, Humans Hired to Fix Robot Errors - AI's adoption in copywriting triggers job losses and new roles that blend human intelligence with AI to improve content quality. The scenario reveals significant industry change.

Samsung's Galaxy Watch 7 Ultra to Rival Apple with Competitive Pricing - Leaked prices suggest Samsung's Galaxy Watch 7 and Watch 7 Ultra, set to launch at the next Unpacked event, could potentially undercut Apple and Huawei offerings.

Amazon Hit with $122m Fine in AlmondNet Patent Breach Case - Amazon must pay $122m for patent violations of adtech firm AlmondNet's targeted advertising tech, with final award due to reach around $200m with interest.

Tinybird Secures $30M Series B, Scaling Data Analytics Value to $240M - Data analytics startup Tinybird raised a Series B funding round of $30M, now valuing the company at $240M. The firm aids companies in optimising large-scale data for near real-time reuse.