👀 Eye-Opening Survey: Teens' Social Media Habits Shift Towards YouTube and TikTok in 2023

Welcome to today's tech briefing!

It's December 12, 2023. In this edition, discover TikTok's $10B success, Epic Games challenging Google, and more. Dive in for today's key tech insights.

• TikTok's Milestone - Surpassing $10B, a non-game app phenomenon.

• Epic vs. Google - Epic Games exposes Google Play's antitrust issues.

• Teen Trends - Shifting to YouTube and TikTok in 2023.

• Temu's Triumph - Leading in daily user engagement.

• Microsoft's Pricing - A significant price increase across Asia.

• iOS 17.2 Launch - Apple introduces a game-changing Journal app.

• AI Union Breakthrough - Microsoft's landmark deal empowers workers.

• EU AI Debate - Macron questions the impact of new AI legislation.

• Nvidia's AI Ventures - A dominant force with 35 AI investments in 2023.

• Google's TV Move - Transitioning from Play Movies to a new TV app.

• and more…

Read on for more in-depth insights into these captivating topics!

Tech Companies

TikTok, First Non-Game App Hits $10B, Outshining Mobile Titans (5-minute read)

TikTok has become the first non-game mobile app to exceed $10 billion in consumer spending, thanks to users purchasing virtual coins for gifting content creators. Boosted by a 61% growth rate, TikTok's revenue surpassed that of other mobile apps including YouTube and Tinder. Forecasts predict the social media giant to achieve $15 billion in consumer spending by 2024.

Epic Games Triumphant: Google's Play Store Breaches Antitrust Laws (5-minute read)

A federal jury has found that Google's Play Store violates antitrust laws, standing in favor of Epic Games. The verdict, if it withstands appeal, could significantly change how Google and Apple regulate third-party app distribution. Google plans to dispute the verdict, continuing to defend their Android business model.

Eye-Opening Survey: Teens' Social Media Habits Shift Towards YouTube and TikTok in 2023 (8-minute read)

A Pew Research Center study found that despite growing concerns, U.S. teens are frequently using social media, with YouTube being the most popular platform followed by TikTok, Snapchat, and Instagram. Declines in Facebook and Twitter (now “X”) usage among teens occurred over the last decade. While usage patterns remain stable since 2022, 13% of teens reportedly use newcomer app BeReal. Survey results also indicated that teens' usage varies by gender, race, ethnicity, and household income.

Temu App Tops Rivals: Users Spend Almost Double Time Daily (3-minute read)

Chinese-backed online platform, Temu, has reportedly outpaced rivals, Amazon and Alibaba in user engagement, averaging 18 minutes per day in Q2, compared to Amazon's 10 minutes and Alibaba's 11. Temu's advantage is attributed to the firm's interactive features that allow users to earn rewards. Notably, Temu's popularity has surged in the US, overtaking sales of the bargain-hunting giant, Shein.

Microsoft Raises Prices Across Asia, Leaving Tech Industry Reeling (7-minute read)

Microsoft plans to increase its software and services prices across Asia aligning with its US dollar charges. From April 2024, Japanese cloud and on-premises services will see a 20% rise—the highest announced so far. Price increases will begin in India, South Korea, and Taiwan from February 2024, with Taiwan only seeing a 7% rise for cloud services. These price changes will also apply to China from May 2024.

AI Corner

Microsoft Strikes Historic Union Deal Over AI Use: Workers Gain Power (8-minute read)

In a landmark move, Microsoft has agreed to union contract terms about its artificial intelligence (AI) implementation, providing workers with recourse if they feel unfairly treated. This contract was negotiated with the Communications Workers of America union and covers staff at Microsoft's ZeniMax game studio. Microsoft also created an agreement with the AFL-CIO labor federation for an open dialogue on AI's impact on workers. This comes amid wider concerns about AI's effects across multiple industries.

Macron Warns: EU's New AI Act May Cripple Tech Innovation (22-minute read)

French President Emmanuel Macron has criticized the EU's new Artificial Intelligence Act, warning that it may stifle innovation and leave European tech firms trailing behind competitors in the US, UK, and China. He expressed concern on the Act's potential impact on the EU's enforcement policy for foundational models. The Act, which still requires member states' ratification, introduces strict regulations on the use of powerful AI models and facial-recognition technology, among other provisions.

Nvidia Dominates 2023 with 35 AI Investments Amid Chip Demand (23-minute read)

Nvidia, the world's top chipmaker, is now the leading investor in AI start-ups, having participated in 35 deals this year, a six-fold increase from 2022. Besides capitalizing on its dominant role as an AI processor provider, Nvidia also secures its market by investing mainly in companies that utilize its technology. This strategic investment approach offers not only financial returns but also strengthens its client base.

Markets & Money

Anticipated No-change Fed Policy Meeting Fuels Stock Market Surge (8-minute read)

Major U.S. indexes like the S&P 500 and Nasdaq Composite finished near their 21-month highs ahead of key inflation updates and a Federal Reserve policy meeting which will most likely end with no increase in benchmark interest rates. Retail and semiconductor companies notably boosted the market, with Macy’s stocks skyrocketing by 20% following a buyout offer of $5.8 billion from two investment firms. Experts warn a hawkish Fed or better-than-expected economic data could spur near-term yield fluctuations.

Oracle Shares Tumble 8% Amid Revenue Shortfall, Despite Cloud Growth (5-minute read)

Oracle's Q2 revenue fell short of Wall Street estimations, causing an 8% drop in share prices. Despite a 5% YoY increase, earning $12.94 billion against the projected $13.05 billion. Notably, the tech company saw a 44% rise in net income and a 52% increase in cloud infrastructure revenue. Furthermore, Oracle announced it had gained cloud businesses from Microsoft, with plans for future collaborations.

Three Sectors Dominate Surprising Job Growth in November (5-minute read)

In November, nearly all job growth came from three sectors: healthcare, government, and leisure and hospitality. These sectors, plus private education employment, accounted for 81% of all jobs created in 2023. The economy added 199,000 jobs in November, slightly more than expected, with 83% coming from the three main sectors.

Apps & Gadgets

Unveiling iOS 17.2: Apple's Journal App Revolutionizes User Experience (7-minute read)

Apple has released iOS 17.2, introducing the new core app, Journal, designed to prompt iPhone users to reflect and journal daily activities using suggestions from other apps. Other features include an Action button for instant translation on iPhone 15 Pro models, support for Qi2 charging on all iPhone 13 and 14 models, the ability to capture spatial video that can be viewed in 3D, and an AutoFill option for PDFs and forms. Apple Music, Messages, and Weather apps also received updates.

Apple's iPad Revolution: Shaking Up Lineups & Chips in 2022 (5-minute read)

Apple is reportedly planning to simplify its iPad lineup next year by discarding the 9th-generation model and potentially phasing out older Pencils. The next iPad Air, expected to be launched by March, will feature an M2 chip and could support the same Magic Keyboard as the iPad Pro.

Google Abandons Play Movies & TV for Google TV App (5-minute read)

Google is set to retire Google Play Movies & TV entirely in January, directing users to Google TV and YouTube apps, where content bought or rented from Google Play Movies & TV will be available. The move forms part of a wider trend of tech companies, like Apple, consolidating their entertainment applications.