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📬 ChatGPT Launch "Custom Instructions" - ChatGPT has introduced a new feature...

Today: ChatGPT Custom Instructions | Twitter's Replace Bird Logo | Twitter to Launch Job Listings

Author

Kristoffer Lindström
July 24, 2023

Hey there! I hope you had an amazing and rejuvenating weekend!

Today is Monday, July 24. Get ready for some super exciting tech news coming your way. Here are the top headlines for today:

  • ChatGPT Gains Custom Instructions

  • Threads User Engagement Plummets

  • Musk to Replace Twitter's Bird Logo

  • Twitter (or X?) to Launch Job Listings

  • AI Giants Pledge Responsible Development

  • Mega Tech's Earnings Spotlight

  • and more...

READ TIME: 4.5 MINUTES

🌐 Tech Companies

Meta's microblogging app, Threads, experiences a drastic 70% drop in user engagement with daily active users decreasing to 13 million, down from a July 7 peak. Executives brush off the decline as expected and maintain their focus on feature development. As daily usage drops from 19 minutes to four, industry professionals highlight the app's urgent need to differentiate itself and increase functionality.

Elon Musk plans to replace Twitter's recognizable bird logo with a new, yet-to-be-decided "X" logo. The move accompanies Musk's broader initiative to transform Twitter into a multifunctional super app.

Twitter is nearing the launch of a new feature enabling Verified Organizations to list jobs directly on their profiles. The new feature could increase Twitter's revenue and engagement by tapping into the hiring platform market, which currently sees LinkedIn attracting over 52 million job seekers.

Google advances its plan to kill third-party cookies in Chrome. After the recent release of Chrome 115, Google is set to gradually enable the Privacy Sandbox toolkit, offering API alternatives that protect user privacy. The goal is to eliminate third-party cookies by Q3 2024 completely, but progress may be adjusted based on ongoing monitoring results.

Amazon is committing $120 million towards a new Florida facility for Project Kuiper, aiming to prepare its internet satellites for space launch. The facility's completion and satellite processing are expected by early 2025.

🚀 Startup Scene

o9 Solutions, an AI-powered business planning software vendor, raised $116 million, enhancing its market valuation to $3.7 billion. General Atlantic’s BeyondNetZero fund led the investment round.

Startup Karat Financial, focused on providing financial tools to high-income content creators, has raised $70 million in a Series B round, diversifying offerings beyond a business credit card to a personal credit building card.

🤖 AI Corner

ChatGPT, the AI conversational model by OpenAI, has introduced a new feature called "custom instructions". This allows the chatbot to remember specific information about its users, providing a more tailored response to queries. The feature is expected to benefit users by reducing repetitive context setup, and is presently available to ChatGPT Plus subscribers, except in the UK and EU.

Apple is leveraging its in-house chatbot to assist employees in prototyping future features and answering data-driven questions. Although uncertain about its customer-facing applications, Apple is considering expanding its generative AI usage internally. This includes potentially supporting AppleCare staff in customer service, despite concerns over AI's accuracy.

The White House has secured voluntary commitments from seven leading AI firms – Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI – to address the risks of AI. They pledge to invest in cybersecurity, discrimination research, and a watermarking system for AI-generated content. Although the commitments lack immediate consequences, they signify a collaborative effort to regulate AI technology.

OpenAI is set to release an Android version of its ChatGPT app next week, following its iOS debut in May.

💰´Markets & Money

Investors gear up for a potentially market-shifting week with key events including the Federal Reserve's July meeting, where an interest rate hike is expected, the release of June's Personal Consumption Expenditures price index data, and earnings reports from major tech players like Alphabet, Microsoft, and Meta Platforms.

The market turns its attention to the upcoming Q2 earnings reports of mega-cap tech companies, namely Microsoft, Alphabet, Amazon, and Meta. Trends in cloud spending, alongside developments in AI, are key areas to monitor. Q2 earnings for these tech giants are predicted to increase by 14.1% year-on-year, fueled by 7.9% higher revenues.

⚡ Quick links

Meta cancels the high-end mixed-reality headset Meta Quest Pro and discontinues the development of Quest Pro 2, potentially focusing on more affordable models.

YouTube Premium subscription is now $13.99 per month, a $2 increase, for both new and existing subscribers in the US.

Spotify plans to raise its U.S. Premium subscription by $1 to $10.99, following suit with other streaming services.

Argonne National Laboratory pioneers a low-cost, cobalt-based catalyst for efficient hydrogen extraction from water, advancing green energy initiatives.

Google Photos tests new user interface elements and design changes, including floating navigation bar, for Android.

Apple faces issues with LG displays and a new assembly process for the upcoming iPhone 15 Pro models, potentially affecting launch availability.

Fed launches "FedNow", a real-time payment service aimed at enabling Americans to transfer funds instantly, 24/7, modernizing the U.S payment system.

Reddit has intervened in persistent API blackout protests by seizing control of large subreddits including r/malefashionadvice, r/homeautomation, and r/ShittyLifeProTips.

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