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January 20, 2023, 2:40 PM
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| Bloomberg: |
Memo: Alphabet plans to cut ~12,000 jobs, 6%+ of its global workforce; CEO Sundar Pichai says he takes “full responsibility for the decisions that led us here” — Google parent Alphabet Inc. said it will cut about 12,000 jobs, more than 6% of its global workforce …
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| Kevin Simauchi / Bloomberg: |
Crypto lender Genesis Global files for Chapter 11 bankruptcy in New York, listing the estimated range for both assets and liabilities as between $1B and $10B — Cryptocurrency lender Genesis Global Capital filed for bankruptcy, the latest firm to collapse in the aftermath of FTX's swift downfall.
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| Ryan Weeks / The Block: |
Bankruptcy filing: Genesis Global owes more than $3.6B to its top 50 creditors, including $766M to the Winklevoss' Gemini Trust Company and $151M to Mirana — - Genesis Global filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of New York.
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| Nico Grant / New York Times: |
Sources: Google executives met with Larry Page and Sergey Brin in December to discuss AI products; Google plans to demo web search with chatbot features in 2023 — A rival chatbot has shaken Google out of its routine, with the founders who left three years ago re-engaging and more than 20 A.I. projects in the works.
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Tweets: @modestproposal1, @trippmickle, @jessefelder, @schuldensuehner, @sociogeeks_, @nicoagrant, and @kantrowitz
| Bloomberg: |
Sources: Nintendo plans to increase production of its six-year-old Switch console in the coming fiscal year, starting in April 2023, as demand remains strong — Nintendo Co. plans to increase production of its six-year-old Switch console in the coming fiscal year after shipping roughly 21 …
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| The Verge: |
Source: CNET owner Red Ventures has used AI tools like Wordsmith to write stories for at least a year and a half, causing unease amid layoffs and restructuring — Fake bylines. Content farming. Affiliate fees. What happens when private equity takes over a storied news site and milks it for clicks?
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Futurism, The Verge, Washington Post, Search Engine Land, TheStreet, and Gizmodo
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| Anna Nicolaou / Financial Times: |
Netflix co-founder Reed Hastings steps down as co-CEO but plans to stay on as executive chair; the company promotes COO Greg Peters to co-CEO with Ted Sarandos — Streaming company names new leadership as it looks to reset after ‘tough year’ in 2022 — Reed Hastings is stepping …
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About Netflix, Silicon Valley Business …, Financial Times, New York Times, Wired, City A.M., and Bloomberg. Tweets: @reedhastings
| Emily Baker-White / Forbes: |
According to six employees and an internal doc, TikTok and ByteDance staff engage in “heating”, or inflating video view counts, to court influencers and brands — TikTok and ByteDance employees regularly engage in “heating,” a manual push that ensures specific videos …
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Search Engine Land, Digiday, and Ad Age
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| Karissa Bell / Engadget: |
Twitter quietly updates its developer agreement with a clause banning third-party clients, after claiming the company was “enforcing long-standing API rules” — In case there was any doubt about Twitter's intentions in cutting off the developers of third-party apps …
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| Catherine Larkin / Bloomberg: |
SEC filing: T-Mobile says a hacker stole the data of ~37M customers, including names, addresses, and phone numbers, but not passwords, SSNs, or credit cards — T-Mobile US Inc. said a hacker obtained data for 37 million customer accounts, though it didn't include payment card information or personal identifying numbers.
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| Iris Deng / South China Morning Post: |
Canalys: Xiaomi shipments in India fell 40% YoY in Q4 2022 amid government scrutiny, falling behind Samsung and Vivo after holding the top spot for 20 quarters — Chinese smartphone giant Xiaomi was dethroned in India for the first time in five years by Samsung Electronics and Vivo … | Dean Takahashi / VentureBeat: |
A survey of 2,300+ game developers: 45% say the metaverse won't deliver on its promise, 53% back unionization, 91% say player harassment is an issue, and more — Game developers are more skeptical of metaverse and blockchain projects, according to a new survey by the Game Developers Conference.
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Tweets: @danieljkelley, @goldenboyftw, @official_gdc, @stephentotilo, and @vgc_news
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