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- 🤖 Google’s AI Scrapping Update, 🧵 Threads Release Date, 🏆 Tesla's Record
🤖 Google’s AI Scrapping Update, 🧵 Threads Release Date, 🏆 Tesla's Record
Google has updated its privacy policy, openly stating it may use virtually everything posted online to develop its AI tools, including the data from public posts.
Kristoffer Lindström
July 04, 2023
Hello!
I wish our USA readers a happy 4th of July! To the rest of us, let’s see what is happening in the world of tech.
Today’s top headlines:
Apple vs. Epic Continues
Instagram's 'Threads' Nears Launch
Tesla Sets Sales Record
Google’s AI Scrapping Update
Andreessen on AI
and more...
Read time today is about 4.4 minutes; enjoy!
🌐 Tech Companies
Apple is escalating its ongoing legal dispute with Fortnite creator Epic Games to the U.S. Supreme Court. The tech giant seeks to overturn an appeal court ruling, which partially favored Epic Games, concerning the App Store policies, primarily anti-steering provisions that developers argue limit alternative payment systems.
Insight: We assess this news as having an Industry-wide impact. Should Apple succeed, it could influence the freedom of other tech companies to dictate terms on their digital platforms. Conversely, a win for Epic could invite broader regulatory scrutiny on digital marketplace practices.
Instagram is set to launch Threads, its Twitter competitor, on July 6. The app will leverage the existing Instagram community, enabling users to interact with their current followers. The standalone platform aims to bring communities together for diverse discussions and content sharing.
Tesla recently announced record-breaking global auto sales, selling 466,000 vehicles, 4% more than estimated. These impressive figures were achieved following price cuts across all models and the reintroduction of federal tax credits for EV buyers. Additionally, the falling costs of EV battery packs and the overall market shift towards electric vehicles are increasing consumer demand for electric mobility options.
Meta is in discussions with Tencent to reintroduce its Quest VR headsets in China, despite facing concerns about Zuckerberg's criticisms of the country. This move comes over a decade after Facebook was blocked in the region. The partnership could offer significant benefits for both entities, tapping into China's massive consumer market.
Insight: This partnership could mark a significant industry-wide impact. By bridging the East-West divide, Meta could open the door for other tech giants facing similar challenges. However, the success hinges on how well Meta navigates China's regulatory environment and public sentiment.
Netflix is reimagining its advertising strategy to enhance revenue from its ad-supported service. The plan includes targeted advertising, episodic campaigns, and a focus on bespoke marketing utilizing customer data.
🤖 AI Corner
Google has updated its privacy policy, openly stating it may use virtually everything posted online to develop its AI tools, including the data from public posts. The policy amendment details how Google could utilize users' online activities to improve its AI-based services like Google Translate, Bard, and Cloud AI capabilities.
Insight: We foresee this policy shift leading to significant repercussions in the tech industry, especially for data privacy.
AI start-up Humane, led by ex-Apple executives, has announced its first product, the 'Ai Pin', a wearable that features a camera and projector, transforming any surface into a touch input. However, questions about its compatibility and usage with iPhones and Android phones persist.
💰´Markets & Money
Typeface, a generative AI platform, recently closed a $100 million Series B round, hitting a $1 billion valuation. The funding aims to scale further and innovate their AI offerings.
Wharton's Jeremy Siegel suggests tech stocks offer investors a 'win-win' scenario, remaining relatively resilient irrespective of economic downturns or interest rate changes.
The US economy showed resilience in H1, yet persistent inflation, rising bankruptcies, and consumer debt delinquencies hint at potential challenges. While tech and energy sectors remain stable, less established companies face increased risk.
💡Insights & Analysis
Marc Andreessen, co-founder and general partner of the Silicon Valley VC firm Andreessen Horowitz, argues in his essay "Why AI Will Save the World" that the transformative potential of AI should be seen as a tool that will significantly enhance the world rather than as a threat.
He addresses five commonly proposed risks of AI, arguing that four of them are not real and that the fifth (AI making it easier for bad people to do bad things) is a risk that comes with any technology. He suggests that rather than banning AI, society should focus on developing AI in a way that maximizes its benefits and minimizes its risks
⚡ Quick links
Apple, spurred by iPhone sales and anticipated mixed-reality headset, has become the first-ever company to achieve a $3 trillion valuation.
Elon Musk's new Twitter policy limits the number of daily tweets users can read, causing significant issues for TweetDeck users, with many reporting loading failures.
Twitter's TweetDeck will now be accessible only to verified users, potentially driving revenue through Twitter's Blue program.
The Biden administration plans to restrict Chinese companies access to US cloud services, further straining global economic relations.
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