⚠️ Meta Faces EU's Billion-Dollar Warning

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🤖 AI

The latest on AI from leaders like OpenAI, Microsoft, Midjourney, Anthropic Google, and more.

Nvidia Joins Oracle, Salesforce in Cohere's $270M Funding Round

AI startup Cohere raises $270M in a Series C round involving AI titan Nvidia, Oracle, and Salesforce. Cohere, focusing on enterprise concerns about proprietary data, creates AI tools for functions like copywriting and search.

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Meta Targets Generative AI Integration Across Platforms

Meta CEO, Mark Zuckerberg, prioritizes AI integration across all platforms, including Facebook, WhatsApp, Instagram, and the metaverse. His focus on generative AI - technology that creates new content from language prompts - aims to innovate in ways not yet explored by competitors.

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Insight: This move signifies a Company level shift in Meta's strategy, hinting at a potential paradigm shift in AI application. By prioritizing generative AI, we can expect Meta to pave the way for innovative AI applications in both social media and the emerging metaverse.

🥽 AR/VR

News on Oculus, Apple Vision, Metaverse, and the growing AR/VR market.

Meta Trials Instagram Reels on Quest VR

Meta experiments with bringing Instagram Reels to its Quest VR headset, signaling tighter integration of Meta's apps with its VR systems. The announcement follows the unveiling of Meta's $499 Quest 3 device and Apple's $3,499 Vision Pro.

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HTC Vive Unveils Business-focused VR Headset

HTC's Vive has launched a VR headset, Vive XR Elite Business Edition, aimed at businesses and priced at $1,299—approximately half the price of Apple's Vision Pro. Features include a dedicated web app for device management, high-resolution displays, and a swappable battery for extended use.

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🛍️ E-commerce

Take the temperature of the growing E-commerce market with the most exciting stories in a concise format.

Walmart Surpasses Amazon as World's Largest Retailer

In Forbes' Global 2000 list, Walmart reclaims its title as the largest retailer, taking advantage of high inflation and economic uncertainty. Meanwhile, Amazon falls behind after experiencing losses and slowing sales.

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💳 Fintech

Money is now digital, and here, we track the crucial players in the Fintech space.

Revolut Expands Into E-commerce and Advertising

The financial super app, Revolut, plans to introduce new advertising formats to its platform, allowing brands to reach its 30 million worldwide users.

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Insight: This move signals an Industry-wide shift as fintech companies continue diversifying their offerings. We see a growing trend of financial platforms expanding into advertising and e-commerce.

AmEx Partners with Plaid and Yodlee for Secure Data Sharing

American Express (AmEx) has partnered with Plaid and Yodlee, integrating their services into its financials API to enhance secure data sharing with third-party apps.

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🎮 Gaming

The largest entertainment industry in the world is Gaming. Here we keep check of crucial actors like Sony, Nintendo, EA, Microsoft, Take-two, and more.

Apple and Epic Games Appeal Antitrust Ruling over App Store

Apple and Epic Games have jointly requested that an appeals court review its previous decision on their antitrust dispute. Apple insists its payment practices are "pro-competitive" and don't violate antitrust laws, while Epic Games argues that the court didn't fully consider the anticompetitive consequences of Apple's practices.

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Insight: This ongoing legal battle holds Industry-wide significance as the outcome may influence future antitrust regulations for tech companies. We foresee intensified debates over app store policies and their impact on competition.

Ubisoft Forward 2023: Updates and Expectations

Ubisoft is set to hold its live-streamed game showcase, Ubisoft Forward, on June 12, providing updates on anticipated titles such as Assassin's Creed Mirage and Avatar: Frontiers of Pandora. Fans can expect deeper insights into the gameplay and potential release dates for several delayed titles.

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🚖 On-demand Services and Sharing Economy

Here we track the news from Airbnb, Uber, Lyft, and other key players in the space.

Uber's 'Carshare' Debuts in North America in Climate Drive

Uber is expanding its "Go Green" initiative, bringing its car-sharing service, 'Carshare', to North America starting in Boston and Toronto. The move is part of a series of updates aimed at reducing environmental impact, including an emissions savings feature, and eco-friendly routes.

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Insight: This step can have an Industry-wide impact, potentially influencing other companies in the ride-hailing sector to focus more on sustainability. We expect the 'Carshare' service to contribute significantly to Uber's zero-emission 2040 goal.

☁️ SaaS, Software & Cloud

Software is eating the world. Here we check key players in SaaS, Software, and Cloud service providers.

Google Cloud Offers AI Consulting Services

Google Cloud is launching consulting services to help businesses use generative AI, intending to identify trends, increase automation, and generating content.

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Freshworks Initiates Third Round of Performance-Based Layoffs

Nasdaq-listed SaaS firm Freshworks is conducting another round of layoffs within its US product, engineering and GTM teams, based on performance reviews.

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Snowflake Debuts Government and Education Data Cloud

Data management company, Snowflake, has unveiled a government and education data cloud to consolidate and streamline data for public agencies and educational institutes.

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🔍 Search & browser

The window to the Internet is search and the browser. Here we follow news from Google, Bing, DuckDuckGo, Opera, and more.

Google's News Showcase Service Set for Summer U.S. Launch

Google intends to roll out the U.S. edition of its News Showcase aggregation platform in summer. Partnering with publications like the Wall Street Journal, AP, Reuters, and Bloomberg, the service was initially announced in October 2020.

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Google Unveils Custom Chatbots for Enterprise Search

Google Cloud has introduced the Enterprise Search on Generative AI App Builder, a platform for developing customized chatbots and semantic search apps. Mayo Clinic, an early adopter, is utilizing the tool to streamline the interpretation of patient health data while preserving privacy.

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💬 Social media

Everything is social. Here we curate the most important news stories from leaders like Facebook, Instagram, TikTok, Snapchat, Twitter, and more.

EU Threatens Meta with 'Heavy Sanctions' Over Child Protection Failures

The European Union has warned Meta of possible 'heavy sanctions' if it fails to address child protection issues on Instagram. The action follows a Wall Street Journal report revealing a network of Instagram accounts used for child sexual abuse material (CSAM). Meta is expected to demonstrate effective measures to comply with the EU's Digital Services Act by August 25.

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Insight: This is a Company-level incident with potential Global implications. If Meta fails to act swiftly, it faces a multi-billion-dollar fine in the EU, which could trigger tighter regulations on social media platforms worldwide.

Reddit CEO to Address User Concerns Amid API Outrage and Planned Protests

Reddit CEO Steve Huffman is set to host an AMA regarding the company's planned API changes, which have led to widespread user outrage and planned protests. Over 3,000 subreddits plan to 'go dark' in protest, and two popular third-party clients announced shutdowns due to new API pricing.

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Insight: This incident affects the Company, but could potentially have Industry-wide impacts. Should Reddit fail to address user concerns adequately, it could catalyze broader discussions about platform openness and third-party integration policies.

Meta Introduces Channels, A New Broadcasting Feature on WhatsApp

Meta aims to create "the most private broadcast service available" with a new WhatsApp feature called Channels. This one-way broadcast tool allows users to send content to a specific channel. However, unlike regular WhatsApp messaging, Channels will not initially use end-to-end encryption. The feature is currently being piloted in Colombia and Singapore.

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LinkedIn Unveils AI Tool for Automated Ad Copywriting

LinkedIn has launched AI Copy Suggestions, a generative AI tool designed to automate the creation of ad copy. This feature uses data from the platform and OpenAI's GPT models to suggest relevant introductory text and headlines for ads.

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Meta Plans Twitter Rival with Project93

Meta is progressing with plans to launch a Twitter rival, code-named Project93, aiming to offer a more stable platform for creators and public figures. The app will reportedly integrate with ActivityPub, allowing interoperability with other social networks.

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Insight: This move has an Industry-wide impact. The entrance of a Twitter alternative may disrupt social media dynamics and could drive existing platforms to re-evaluate their strategies and policies for user engagement and content moderation.

Reddit Announces Workforce Reduction Amid Economic Challenges

Reddit is laying off approximately 5% of its workforce (about 90 employees), following the trend of tech companies reducing staff numbers in preparation for a potential economic downturn. Additionally, the company plans to scale back hiring for the rest of the year.

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📺 Streaming Services

The latest from the leading streaming services like Netflix, Disney+, Spotify, and more.

Twitch Retracts Branded Content Changes Following Creator Outcry

Twitch has retracted new branded-content guidelines intended to restrict certain ads, after considerable pushback from its creator community.

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Apple Reveals Upcoming Enhancements Across Services

Apple has announced new features coming to its services such as Apple Music, Maps, and Podcasts, including collaborative playlists and offline map access.

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💰 Venture capital

Data on the VC market and funding rounds on key upstarts.

U.S. Startups Seeing Increased Delay Between Series A and B Funding Rounds

The gap between Series A and B funding rounds for U.S. startups has been widening, reaching an average of 31 months, according to a recent Crunchbase analysis. This delay is being attributed to venture funding contraction and startups attempting to cut costs and extend their runways.

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Insight: This is an industry-wide impact. The prolonged funding gap could signify a more cautious investment climate and may influence startups to reassess their strategies, focusing on sustainability and efficient use of resources.