🚨 NYT Restricts AI Training Use

Hey there!

Happy Tuesday, August 15th! No need to waste any more of your precious time with small talk. Here are the top headlines for today.

• PayPal's New CEO

• Threads' Users Drop Dramatically

• FTC Preps Amazon Antitrust

• Anthropic Funding

• NYT Restricts AI Training Use

• Pixel Watch 2 Insights Emerge

• iOS 17 Introduces Passkeys

• and more...

READ TIME: 3.4 MINUTES

From our partner: monday.com

Looking for a platform to manage your team's workflow? Check out monday.com!

With essential features like saving login data and ensuring good performance, monday.com supports your preferences, such as selected currency, region, and language.

Plus, with performance and analytics cookies, you can understand and improve the use and performance of your services.

Get started with monday.com today; it’s free forever.

Tech Companies

PayPal Welcomes New CEO (3-minute read)

Alex Chriss, an executive from Intuit, has been named as PayPal's new CEO, succeeding Dan Schulman starting September 27. Schulman, planning to retire, will remain a director until May 2024.

Threads' Users Drop Dramatically (4-minute read)

Meta's social platform, Threads, witnessed a staggering 79% decline in daily active users within a month, from 49.3 million to 10.3 million between July and August (according to Similarweb). Moreover, user engagement dipped, dropping average daily usage from 14 minutes to just three minutes.

FTC Preps Amazon Antitrust (5-minute read)

The Federal Trade Commission (FTC) is set to meet with Amazon next week, possibly preceding one of its most significant antitrust lawsuits. This follows a yearslong probe into various Amazon business practices. Key allegations suggest Amazon prioritizes online merchants using its logistics services.

Saudi Savvy Games Reportedly Backed Out of The Embracer Deal (5-minute read)

Saudi's Savvy Games Group is reportedly the potential partner that backed out of a $2 billion deal with Embracer Group. Savvy, part of Saudi Arabia's Public Investment Fund, had previously invested $1 billion in Embracer, aiding in acquisitions of major gaming assets.

AI Corner

SK Telecom Funds Anthropic (4-minute read)

South Korea's SK Telecom invests $100 million in Anthropic, a US AI firm rivaling OpenAI. Anthropic, backed by investors like Google, and SK Telecom aim to co-develop a global telecom-driven multilingual AI model.

Amazon's AI Tackles Reviews (6-minute read)

Amazon unveils an AI tool to condense customer reviews, highlighting prevalent features and opinions alongside product details. The system will categorize reviews by topics like Ease of Use and Performance. Amazon promises strict oversight against AI-generated fake reviews, having blocked over 200 million suspected ones last year. Yet concerns persist as fake reviews surge, especially with tools like ChatGPT.

NYT Restricts AI Training Use (6-minute read)

The New York Times updated its Terms of Service to prevent its content from aiding in the training of AI systems. Automated tools accessing or collecting this content need written permission. The move follows Google's decision to train AI with public web data, which could include copyrighted content. Despite a recent $100 million deal with Google, the Times' new terms could target firms like OpenAI or Microsoft.

Markets & Money

US Stocks Rebound, Eyes Retail (2-minute read)

US stocks rallied on Monday, with the Nasdaq Composite surging over 1%. Investors anticipate July's retail sales data and key earnings releases this week from major retailers.

Mastercard Invests in MTN Fintech (3-minute read)

Mastercard Inc. agrees to acquire a minority stake in MTN Group's fintech unit, valuing it at $5.2 billion. This move leverages Africa's rising mobile banking trend among its young, tech-forward population.

Monday.com's Stellar Revenue Report (4-minute read)

In its recent report, Monday.com projects its annual revenue to hit between $713M-$717M, marking a significant 37%-38% growth. With a positive quarterly cash flow of $47M and plans to expand its workforce by 10% by 2023's end, the company's Q2 revenue touched $175.7M, a 42% YoY increase.

Cloud 100's 2023 Shifts (3-minute read)

The eighth Cloud 100, showcasing top private cloud firms, reveals AI-driven changes. OpenAI claims the top, followed by AI startups such as Anthropic and Abnormal Security. Notably, 55% use generative AI. Challenges persist: IPO hesitations, layoffs, and diminished CEO diversity.

Apps & Gadgets

Pixel Watch 2 Insights Emerge (3-minute read)

Google Pixel Watch 2's FCC filing reveals four strap options, including a new metal slim strap. However, the expected ultra-wideband (UWB) technology is absent. The launch is speculated in October alongside Google Pixel 8.

iOS 17 Introduces Passkeys (3-minute read)

Apple's iOS 17 beta introduces Passkeys, QR code-based passwords improved by iPhone biometrics. Currently, they work only with Apple sign-in accounts, limiting their scope. More apps may soon support this feature.

Advertise on Business Edge.

Show your message and get traffic!

Want to advertise to a technology-focused, professional, and highly engaged audience?

Get in contact now.