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July 24, 2024, 3:45 AM
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Top News

Mark Zuckerberg / Meta:
Mark Zuckerberg argues that “open source AI” is the path forward, closed models are vulnerable to vendor lock-in and state-backed espionage, and more  —  In the early days of high-performance computing, the major tech companies of the day each invested heavily in developing their own closed source versions of Unix.
Bloomberg:
Meta debuts Llama 3.1 405B, the “first frontier-level open source AI model”, as well as new Llama 3.1 70B and 8B models, and says it's working on Llama 4  —  The Meta CEO defends both his open source strategy and a massive investment in artificial intelligence.
Benj Edwards / Ars Technica:
Meta says it will allow developers to use the outputs from Llama models, including Llama 3.1 405B, to improve other models for the first time  —  “Open source AI is the path forward,” says Mark Zuckerberg, misusing the term.  —  In the AI world, there's a buzz in the air …
Alphabet:
Alphabet Q2: revenue of $84.7B, up 14% YoY, net income of $23.6B, up 29% YoY, Search revenue of $48.5B, up from $42.6B YoY, and headcount down 1% to 179,582  —  MOUNTAIN VIEW, Calif. - July 23, 2024 - Alphabet Inc. (NASDAQ: GOOG, GOOGL) today announced financial results for the quarter ended June 30, 2024.
Jennifer Elias / CNBC:
Google Cloud Q2 revenue grew 29% YoY to $10.35B, vs. $10.2B est.; Cloud exceeded $10B in quarterly revenues and $1B in operating profit for the first time  —  Google parent company Alphabet reported earnings after the bell Tuesday.  —  Here's how the company did, compared with estimates from analysts polled by LSEG:
Jennifer Elias / CNBC:
Alphabet reports Other Bets Q2 revenue of $365M, up from $285M in Q2 2023, a $1.13B loss, up from $813M, and announces a “multiyear” investment of $5B in Waymo  —  Alphabet is again investing in its self-driving car unit Waymo — this time with $5 billion.
The Information:
Sources: Apple is working on a foldable, clamshell-design iPhone that could debut as soon as 2026, and reached out to Asian component suppliers in recent months  —  Apple is working on a foldable iPhone that could be released as early as 2026 and in recent months reached out to suppliers …
Eva Roytburg / Fortune:
Elon Musk says “I am not donating $45M a month to Trump”, and that he created America PAC to support Trump, without revealing precisely how much he is donating  —  Elon Musk is not spending $45 million a month to elect former President Donald Trump, though he has created …
Politico:
Some in Silicon Valley hope Kamala Harris would provide a chance for a reset, after years of bipartisan criticism in Washington DC toward big tech companies  —  Would she bring continuity with Joe Biden's policies?  A more centrist vibe?  A sharper progressive bite?
Keith Broni / Emojipedia:
X reverts its water pistol emoji back to a firearm on the web, after Twitter originally switched the pistol emoji from a realistic-looking handgun in 2018  —  X (fka Twitter) has quietly redesigned its 🔫 Water Pistol emoji to display as a firearm.  This diverges from the cross-platform conversion …
Danny Nelson / CoinDesk:
dYdX says v3, an older version of its DeFi crypto exchange that is reportedly for sale and averages ~$1.5B/week in derivatives trading, “has been compromised”  —  News of the problem emerged just as Bloomberg reported dYdX v3 is for sale.  —  Decentralized crypto-exchange giant dYdX …
Suzanne Smalley / The Record:
The US FTC seeks info from Mastercard, Accenture, and six other companies related to their “surveillance pricing products” that use personal data, AI, and more  —  The Federal Trade Commission (FTC) announced Tuesday that it has launched an inquiry into how companies surveil consumers …
Benjamin S. Weiss / Courthouse News Service:
US Senate Majority Leader Chuck Schumer says the Senate will take up the Kids Online Safety Act this week, signaling there's enough support among his colleagues  —  The Kids Online Safety Act would force tech companies to enable the highest possible privacy settings for minor users …
Bloomberg:
US spot ether ETFs hit over $1B in trading volume across nine funds, a strong debut, but far from the $4.6B traded during the spot bitcoin ETFs debut in January  —  - Trading volume still trailed amount posted by Bitcoin ETFs  — Debuts for two of the funds rank among some of the best ever
Chris Welch / The Verge:
Daniel Ek says Spotify is working on a deluxe Spotify tier, around a $17-$18 price point, that has “a lot more control, a lot higher quality across the board”  —  The saga of Spotify HiFi has many twists and turns.  First announced over three years ago, the music service's higher …
Ashley Carman / Bloomberg:
Spotify reports Q2 revenue up 20% YoY to €3.8B, MAUs up 14% YoY to 626M, subscribers up 12% YoY to 246M, above est., and €266M operating income; SPOT jumps 12%+
Ian King / Bloomberg:
Texas Instruments reports Q2 revenue down 16% YoY to $3.82B and forecasts Q3 revenue in line with analysts' estimates of $4.14B, easing fears of a chip downturn  —  - Chipmaker says sales dip again in industrial, automotive units  — Forecast follows more pessimistic view offered by rival NXP

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This is a Techmeme archive page. It shows how the site appeared at 3:45 AM ET, July 24, 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

Benjamin Mullin / New York Times:
Memo: WaPo CEO Will Lewis tells staff they'll be expected to work from the office five days a week, instead of three, by June 2, and by February 3 for managers

Dade Hayes / Deadline:
In an earnings call, David Zaslav says the Trump Administration may be more merger friendly, enabling a “real positive and accelerated impact on this industry”

Taylor Lorenz / User Mag:
How conservatives nurtured and funded a vast network of online influencers and creators, and how structural disadvantages prevent the left from replicating it

More News

Manish Singh / TechCrunch:
India scraps “angel tax” for all classes of investors, a major victory to the country's startup ecosystem that had lobbied for years against the measure
Kyle Wiggers / TechCrunch:
Harvey, which is building an AI-powered “copilot” for lawyers, raised a $100M Series C led by GV that values it at $1.5B and brings its total funding to $206M

Earlier Picks

Mariella Moon / Engadget:
Meta plans to roll out its AI assistant to the Quest in August, limited to US and Canada users in experimental mode, after debuting on the Ray-Ban smart glasses
Todd Spangler / Variety:
Amazon begins rolling out a new UI for Prime Video to help distinguish content included with Prime, update its navigation bar, manage subscriptions, and more
Abner Li / 9to5Google:
Leaked images show the upcoming “Google TV Streamer”, a set-top box with a pill-shaped design, to replace the dongle form factor, and an updated, longer remote
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