🧑‍⚖️ Google Sued Over Monopoly, 🤖 OpenAI AI Lobbying, 💰 SoftBank on AI Offensive

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Top headlines today:

• Google Sued Over Monopoly

• Apple's Suppliers' Sales Decline

• EA Sports and Games Division Split

• OpenAI Lobbies Against AI Regulations

• Cybersecurity Market Grows 12.5% in Q1

• SoftBank on AI Offensive

• and more...

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🌐 Big Tech

Gannett Sues Google Over Ad Monopoly (7-minute read)

Gannett, the largest news publisher in the US, is suing Google for monopolistic behavior in the digital advertising space. The lawsuit alleges that Google's control over the online ad business has led to decreased industry revenue. Gannett claims that Google's ownership of the largest ad exchange and ad server, both acquired rather than built, has resulted in this diminished revenue. Google, however, insists its services are popular due to their quality, not a lack of competition.

Apple's Taiwan Suppliers' Sales Decline (3-minute read)

Sales among Taiwan's major Apple suppliers, including Hon Hai Precision Industry Co. and Taiwan Semiconductor Manufacturing Co., fell for the fourth consecutive month in May. The drop is attributed to high living costs impacting consumer discretionary spending. This comes after Apple experienced a challenging first quarter, with hardware sales either stagnating or declining.

Instagram Enables Public Reels Downloads (3-minute read)

Instagram now allows users to download public Reels for sharing outside the app, and a feature rival TikTok has offered for years. Only Reels from public accounts can be downloaded, and these accounts can disable the download feature.

Microsoft Defends Activision Acquisition (3-minute read)

Microsoft CEO Satya Nadella and other executives are set to testify in court this week against the FTC's injunction on the proposed Activision Blizzard acquisition.

🚀 Startups Scene

Spotify to Launch Pricier Subscription (3-minute read)

Spotify is reportedly planning to introduce a more expensive subscription tier, internally named "Supremium", that will include high-fidelity audio. The new option is set to launch in non-U.S. markets first. This move comes as Spotify seeks to increase revenue and stay competitive with Apple and Amazon's music streaming services.

Shopify's Shop Day Breaks Records (6-minute read)

Shopify's first Shop Day event set new records for offers redeemed and first-time buyers in 2023, indicating the success of its app-focused strategy.

Uber Introduces Video Ad Targeting (2-minute read)

Uber's advertising division is now offering long-form video messaging to advertisers across Uber, Uber Eats, and Drizly platforms. Early tests on Uber Eats post-checkout video ads reportedly outperformed industry viewability benchmarks by 37%.

Grab to Cut 11% of Workforce (1-minute read)

Grab Holdings, Southeast Asia's leading ride-hailing and food delivery app, plans to cut 1,000 jobs, or 11% of its workforce, to manage costs and ensure affordable services.

EA Sports and Games Division Split (5-minute read)

Electronic Arts (EA) is undergoing a significant internal reorganization, splitting EA Games and EA Sports. The former will be renamed "EA Entertainment," indicating EA's intention to expand beyond games.

🤖 AI & Emerging Tech

OpenAI Lobbies Against EU AI Regulations (3-minute read)

OpenAI has been lobbying the European Union to dilute forthcoming AI legislation, according to documents obtained by Time. The AI company argued against all general-purpose AI systems being classified as "high risk" under the EU AI Act's risk categorizations. OpenAI's lobbying efforts appear to have been successful, as the final draft of the act does not automatically classify such systems as high risk.

SoftBank Shifts to AI Offensive (4-minute read)

SoftBank CEO Masayoshi Son announced the company's shift from defensive to offensive, focusing on artificial intelligence investments. After years of asset sales and cash accumulation, SoftBank is now ready to resume its tech investments.

OpenAI Mulls AI Software Marketplace (2-minute read)

OpenAI is reportedly considering launching a marketplace for customized AI models. This platform could function as an app store, providing businesses with access to advanced AI models for specific needs, such as detecting financial fraud or providing market-specific information.

💰´Tech Market Pulse

Cybersecurity Market Grows 12.5% in Q1 (3-minute read)

The global cybersecurity market expanded by 12.5% YoY in Q1 2023, reaching $18.6 billion. Palo Alto Networks led the market with a 23.6% growth, while Fortinet and CrowdStrike also saw significant increases. However, Cisco's growth was slower at 1.4%.

SoftBank CEO Breaks Silence (4-minute read)

Masayoshi Son, CEO of SoftBank, is set to make his first public appearance in seven months at the company's annual shareholder meeting. The focus is on the potential IPO of Arm Ltd and the future of SoftBank's Vision Fund.