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July 11, 2024, 11:45 AM
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Top News

Bloomberg:
Apple settles with the EU over Apple Pay and avoids potential fines by agreeing to open NFC access on iOS to third-party wallet developers for free for a decade  —  - EU accepts Apple pledge to open up payment tech to rivals  — Firm still faces mounting EU antitrust scrutiny in other areas
Leo Schwartz / Fortune:
The US SEC drops its investigation into Paxos over its BUSD stablecoin issued in partnership with Binance, after sending Paxos a Wells notice in February 2023  —  As the crypto industry continues its calls for regulatory clarity, a glaring question has been whether stablecoins …
Vlad Savov / Bloomberg:
IDC estimates that Apple will sell under 500K Vision Pro units in 2024, and the headset's international launch will offset a 75% QoQ drop in US sales in Q3 2024  —  - The pricey headset's US sales are expected to plummet  — A more affordable model in a year's time should help momentum
Sarah Perez / TechCrunch:
An international study of 642 websites and mobile apps offering subscription services finds ~76% with at least one possible dark pattern and ~67% with multiple  —  The U.S. Federal Trade Commission, along with two other international consumer protection networks, announced on Thursday …
Mark Bergen / Bloomberg:
Helsing, which makes AI tools for defense, raised a €450M Series C led by General Catalyst, a source says at a €4.95B valuation, taking its funding to €769M  —  - Company formed in 2021 has now raised nearly €770 million  — Helsing will open entity in Estonia as part of Baltic push
Brady Dale / Axios:
US prosecutors say crypto exchange BitMEX pled guilty to one count of violating the Bank Secrecy Act by not having an adequate AML program from 2015 to 2020  —  - U.S. agencies are paying attention now, and they are aggressively reviewing those early practices, as we've seen again and again recently.
Lauren Smiley / Wired:
A profile of Priscila Barbosa, who defrauded Uber and other apps by building a ~$10K-per-month business renting fake accounts to undocumented workers in the US  —  She came to the US with a dream.  Using platforms like Uber, Instacart, and DoorDash, she built a business empire up from nothing.
Eduardo Baptista / Reuters:
A SAS survey of 1,600 decision makers in key global markets: 83% of Chinese respondents said they've adopted generative AI vs. 65% in the US and 54% globally  —  China is leading the world in adopting generative AI, a new survey shows, the latest sign the country is making strides in the technology …
Chance Miller / 9to5Mac:
Apple and Google launch a data portability tool that lets Google Photos users move their photos to iCloud, after offering iCloud to Google Photos in March 2021  —  Apple and Google have teamed up to introduce a new data portability tool that lets users transfer their Google Photos collections straight to iCloud Photos.
Paayal Zaveri / Bloomberg:
Fireworks AI, which helps companies fine-tune and customize AI models, raised $52M led by Sequoia at a $552M valuation, taking its total funding to $77M  —  - Startup's platform lets companies access multiple AI models  — Investors put $52 into the company, led by Meta alum Lin Qiao
More: Fireworks
Janko Roettgers / Lowpass:
A US court grants Redbox owner Chicken Soup for the Soul Entertainment Chapter 7 bankruptcy, paving the way for shutting down Redbox and liquidating its assets  —  Court hearing included allegations of fraud  —  Redbox is shutting down, corporate parent is being liquidated
Rachel Metz / Bloomberg:
A look at the rise in use of the sparkles emoji to market AI products as magic, as some say the imagery distracts from real-world issues the AI industry faces  —  Have you noticed artificial intelligence is looking a lot more sparkly lately?  But first...  Do you believe in magic?
Eleanor Olcott / Financial Times:
Sources: Xiaohongshu, China's fastest-growing social media platform, sold existing shares in recent weeks at a $17B valuation; DST took part in the round  —  Yuri Milner's DST Global takes stake at $17bn valuation in rare investment from overseas after China's tech crackdown

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This is a Techmeme archive page. It shows how the site appeared at 11:45 AM ET, July 11, 2024.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Reuters:
Palestinian sources say an Israeli airstrike killed five journalists from Al-Quds Today; the Israeli military called the five “operatives posing as journalists”

Washington Post:
How NewsGuard, which attained “sustainable profitability” six years after its launch, became a prime target of the GOP's battle against disinformation watchdogs

Inside Radio:
iHeart reduces its total debt by over $440M and extends most of its debt maturities by three years, by using debt exchange transactions

More News

Bhupendra Paintola / Inc42 Media:
Kearney-Amazon Pay survey of 6K consumers and 1K merchants in 120 Indian cities: 90% prefer digital transactions, 46% of the transactions are digital, and more
Ryan Gould / Bloomberg:
Sources: Alphabet shelves efforts to acquire HubSpot after the companies failed to reach a point of detailed discussions around due diligence; HUBS drops 10%+
Shubham Sharma / VentureBeat:
AWS launches App Studio, which is a generative AI-powered service letting enterprise users create internal apps using text prompts, in public preview

Earlier Picks

Evan Gorelick / Bloomberg:
OpenAI and Los Alamos National Laboratory announce a partnership to evaluate how multimodal AI models can be used safely by scientists in laboratory settings
Brody Ford / Bloomberg:
Intuit plans to cut 10% of its global workforce, or ~1,800 employees, and rehire the same number, primarily in its engineering, product, and sales divisions
Chris Welch / The Verge:
Samsung unveils $250 Galaxy Buds3 Pro and $180 Galaxy Buds3, with ANC and switching to an AirPods-like stemmed design and case, available on July 24
Ben Schoon / 9to5Google:
Samsung debuts the Galaxy Z Fold6, with a wider 22.1:9 display, up to 2,600 nits of brightness, a thinner frame, IP48, and seven years of updates, for $1,899
Wes Davis / The Verge:
Google now lets its users set up Advanced Protection Program with a single passkey, using Android or iOS biometric authentication, instead of two physical keys
Dan Goodin / Ars Technica:
Researchers detail the Blast-RADIUS MD5-based vulnerability affecting RADIUS, a widely used network access authentication protocol first developed in 1991
Harshita Mary Varghese / Reuters:
IDC: global PC shipments rose 3% YoY to 64.9M units in Q2 2024; Apple's shipments rose 20.8% YoY, the biggest jump among PC makers, followed by Acer at 13.7%
Tom Warren / The Verge:
Microsoft hikes the price of Xbox Game Pass Ultimate by $3 to $19.99/month for new subscribers and plans a Standard tier for $14.99/month without day-one titles
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