📉 Musk's X: Users and Advertisers Drop Amidst Dwindling Engagement Metrics

Hey there, Tech Maven!

It’s Friday, October 27. Another day, another tech revelation! Here's a sneak peek into today's highlights:

• Musk's X Declines - Significant drop in user engagement.

• Uber-Waymo Collaboration - Autonomous rides launched in Phoenix.

• Google Maps Evolution - AI-powered features introduced.

• OpenAI's Safety Measures - New team focuses on AI's potential risks.

• Amazon's Profit Jump - Earnings surpass all projections.

• Intel's Stock Triumph - Stocks surge post-Q3 forecast success.

• Instagram's Tech Tips - Discover screenshot secrets for the tech-savvy.

Eager to dive deeper? Read on for a comprehensive take on today's tech waves.

Tech Companies

Musk's X: Users and Advertisers Drop Amidst Dwindling Engagement Metrics (8-minute read)

Following Elon Musk's acquisition, X experienced a significant loss in users and advertisers, casting doubt on initial investor optimism. Data reveals a 38% global drop in app downloads and a 57% decline in U.S mobile downloads. Further, global and U.S monthly active Android users dropped 14.8% and 17.8%, respectively, while daily user time spent declined by 2%. Despite a slight increase in traffic to Musk's profile, the global web traffic dipped by 7%, impacting the company's advertising revenue, which plummeted by approximately 30%.

Unity's Controversial Fee Plan: Strategic Move in Mobile Ad War? (7-minute read)

Unity's controversial 'pay per install' fee structure, revealed a month ago, was reportedly rushed due to urgent financial needs as senior management was split on its launch. Aimed at increasing revenue and acquiring a larger share of the mobile ad mediation market, the policy focused on competing against AppLovin and promoting IronSource, a tool Unity acquired a year ago. However, due to major criticism, the final policy reduced the cap to 2.5%.

Uber Partners With Waymo: Autonomous Rides Now Available in Phoenix (5-minute read)

Uber users in Phoenix, Arizona, now have the option of rides in fully autonomous vehicles, following a partnership between the ride-share giant and Alphabet-owned Waymo. The self-driven trips are offered at the same price as conventional rides. Users will be notified if they are matched with an autonomous car, which they can either accept or reject.

AI Corner

Revolutionary AI-Powered Features Remodel Google Maps: What to Expect (8-minute read)

Google Maps is introducing many updates to enhance navigation and exploration for users. The updates include AI-powered search features, improved navigation interfaces, and more detailed information around EV chargers. Based on AI and advanced image recognition, the search feature is initially rolling out in France, Germany, Japan, the UK, and the US. Additional enhancements such as better-organized search results and more realistic mapping, are set to roll out globally on Android and iOS in the coming weeks.

OpenAI Builds Special Team to Curb AI's Catastrophic Risks (3-minute read)

OpenAI is creating a team to mitigate the "catastrophic risks" linked with artificial intelligence (AI). The team will address issues like nuclear threats, autonomous replication, and cyber threats posed by AI. Aleksander Madry will lead the team and develop a "risk-informed development policy".

Markets & Money

Amazon Shatters Revenue Projections: Profits Surge Thanks to Sales and Cost-Cutting (8-minute read)

Amazon recently reported Q3 revenue of $143.1 billion, a 13% increase, surpassing analysts' estimated $141.6 billion. Operating income rose significantly, from $2.5 billion a year ago to $11.2 billion. The success can be attributed to the 7% increase in the company's central online store sales, a 26% jump in advertising sales, and considerable cost cuts. Amazon Web Services also reported a higher operating margin than previous quarters despite slightly lower-than-expected total sales.

Amazon Cloud Surges in Profit, Despite Revenue Shortfall: A Deeper Look (7-minute read)

Amazon Web Services (AWS) has reported a 12% year-on-year revenue growth in Q3, falling short of analysts' expectations. Despite this, the division generated $6.98bn in operating income, a 29% increase and significantly more than the forecasted $5.63bn. With a margin growth to 30.3%, AWS surpassed operating income generated by Amazon's entire business. Now venturing into AI, AWS has started selling Bedrock service and is set to invest $4bn in AI startup Anthropic.

Intel Exceeds Q3 Forecasts, Stocks Skyrocket After-Hours (8-minute read)

Intel Corporation surpassed Q3 2023 profit and sales forecasts, driving a surge in its stock price. Its revenue fell 8% YoY to $14.2 billion, outperforming the $13.53 billion expected by analysts. Active divisions included Intel's CCG, generating $7.9 billion, DCAI with $3.8 billion, and NEX, Mobileye and IFS contributing $1.5 billion, $530 million, and $311 million respectively. The company anticipates Q4 revenues of $14.6 billion to $15.6 billion, with a gross margin of about 46.5% and EPS of $0.44.

Apps & Gadgets

Unveiling Instagram's Screenshot Secrets For Tech-Savvy Users (7-minute read)

Instagram's screenshot notification system only alerts users if a screenshot is taken in Vanish mode. In Vanish mode, private texts, videos, and pictures disappear after being viewed, with users alerted via an inline message or a new message notification. Screenshots can be taken undetected using airplane mode or by screen recording. The app does not currently support a way to restrict screenshots, so users are advised to review all posts before sharing.