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October 31, 2024, 12:01 PM
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Top News

Meta Investor Relations:
Meta reports Q3 revenue up 19% YoY to $40.59B, net income up 35% YoY to $15.69B, and family daily active people up 5% YoY to 3.29B on average for September 2024  —  Meta Platforms, Inc. (Nasdaq: META) today reported financial results for the quarter ended September 30, 2024.
Wired:
Zuckerberg says Meta is training Llama 4 models on a cluster of 100K+ H100 chips, “or bigger than anything that I've seen reported for what others are doing”  —  The race for better generative AI is also a race for more computing power.  On that score, according to CEO Mark Zuckerberg, Meta appears to be winning.
Karissa Bell / Engadget:
Mark Zuckerberg says Threads has almost 275M MAUs and is adding more than a million sign ups per day, while Meta AI has passed 500M MAUs in less than a year
Jonathan Vanian / CNBC:
Meta's Reality Labs posts Q3 revenue up 29% YoY to $270M, vs. $310.4M est., and a $4.4B operating loss, vs. $4.68B est.; Reality Labs has lost $58B+ since 2020
Sarah E. Needleman / Wall Street Journal:
Mark Zuckerberg says the company's AI-driven feed and video recommendations have led to an 8% increase in time spent on Facebook and a 6% increase on Instagram
Financial Times:
China sanctions Skydio, the US' largest drone maker and a supplier to Ukraine's military; sources say Skydio is rushing to find new suppliers for critical parts  —  Skydio, the US's largest drone maker and a supplier to Ukraine's military, faces a supply chain crisis after Beijing imposed sanctions …
Microsoft:
Microsoft reports Q1 revenue up 16% YoY to $65.6B, Microsoft 365 Commercial products and cloud services up 13%, LinkedIn up 10%, and net income up 11% to $24.7B  —  Microsoft Cloud Strength Drives First Quarter Results REDMOND, Wash. — October 30, 2024 — Microsoft Corp. today announced …
Todd Bishop / GeekWire:
Filing: Microsoft has made “funding commitments of $13B” to OpenAI and says losses from its stake were partly why it had a $683M expense on its Q1 investments
Ina Fried / Axios:
Microsoft says its AI business is on track to surpass a $10B annual revenue run rate in Q2, its fastest product category to reach that milestone yet
Andrew Webster / The Verge:
Nintendo launches Nintendo Music, an iOS and Android app that lets Switch Online subscribers stream or download gaming tunes from Nintendo titles  —  This time, it's a mobile app called Nintendo Music, which lets users listen to classic gaming tunes from Nintendo games spanning the last few decades …
ProPublica:
An investigation finds eight deceptive operations on Meta's platforms that collectively controlled 340+ Pages and placed 160K+ ads to collect users' information  —  Co-published with Tow Center for Digital Journalism  — Deceptive Political Ads: Eight deceptive advertising networks …
Ryan Christoffel / 9to5Mac:
Kuo: Apple plans to use its own Wi-Fi and Bluetooth chips made by TSMC's N7 process and with Wi-Fi 7 in the iPhone 17 lineup, reducing its reliance on Broadcom  —  Apple's big launches for 2024 are nearly complete, so reports are going to pick up regarding the 2025 product lineup.
Charlie Warzel / The Atlantic:
A look at X's Election Integrity Community, a feed to “share potential incidents of voter fraud” that has 50K+ members, launched by Elon Musk's America PAC  —  Elon Musk didn't just get a social network—he got a political weapon.  —  It's easy to forget that Elon Musk's purchase …
New York Times:
Kraken lays off workers and names Arjun Sethi as co-CEO; sources: the cuts total 15% of staff, or ~400, including COO Gilles BianRosa and CTO Vishnu Patankar  —  The influential cryptocurrency exchange has undergone several reorganizations in recent years.  —  Kraken, one of the world's …
Kali Hays / Fortune:
Internal memo: Block CEO Jack Dorsey says Tidal is in for another mass layoff; insiders say as many as 100 people could be laid off, or ~25% of Tidal's staff  —  Block CEO and founder Jack Dorsey wants streaming music app Tidal to operate like a startup again - and that means layoffs
John O'Nolan:
Ghost's CEO details the organization's governance structure and says the open-source CMS generates ~$7.5M in annual revenue and has been profitable for 12 years  —  Ghost is a distributed non-profit foundation which gives away all of its intellectual property under a permissive MIT license.
Emma Roth / The Verge:
Google adds Gemini in Google Maps in the US, with AI-summarized reviews and answers to conversational questions by users, and adds 150 cities to Immersive View  —  Google Maps is getting a big update that's supposed to help you find new places to visit with AI.
Bloomberg:
Source: Amazon's target deadline to unveil AI-upgraded Alexa has moved into 2025, after documents showed Amazon planned to unveil the product on Oct. 17, 2024  —  Amazon is eager to take on ChatGPT, but technical challenges have forced the company to repeatedly postpone the updated voice assistant's debut.
Ryan Gallagher / Bloomberg:
A profile of Pepijn Van der Stap, a Dutch cyber prodigy who stole thousands of companies' data while also doing legitimate cybersecurity and is now in prison  —  Pepijn Van der Stap stayed up through the night of Jan. 22, 2023, repairing one of his computers in silence save for the whirring of its fan.
Tanaya Macheel / CNBC:
Coinbase reports Q3 revenue up 79% YoY to $1.21B, vs. $1.26B est., a $75M net income, vs. a $2.3M loss in Q3 2023, and announces a $1B stock buyback  —  Coinbase Wednesday reported weaker-than-expected third-quarter results, weighed down by muted trading in the cryptocurrency market.

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From Mediagazer

Jessica Toonkel / Wall Street Journal:
A deep dive into Paramount's sale to Skydance; sources: Skydance may integrate Pluto into Paramount+, and CBS head George Cheeks is expected to be head of TV

Brian Stelter / CNN:
In a letter to Bob Iger, incoming FCC chair Brendan Carr raised concerns about ABC's negotiations with its affiliated stations, public trust in media, and more

Todd Spangler / Variety:
Netflix will host NFL Christmas games, including Beyonce's Halftime show, for only three hours after streaming them live; replays will be available on NFL+

More News

Dominic Chopping / Wall Street Journal:
The EU Commission opens formal DSA proceedings against Temu over the alleged sales of non-compliant products and its platform design, like addictive features
Mark Gurman / Bloomberg:
Peloton names Ford executive Peter Stern as CEO, set to start on January 1, to lead a turnaround, and projects Q2 subscriber numbers below analyst estimates

Earlier Picks

Jason Schreier / Bloomberg:
Many long-time game workers are ditching large productions in favor of smaller teams, enabled by growing accessibility of Unreal Engine and other powerful tools
Washington Post:
CCDH: of 283 X posts in 2024 with false election claims that Community Notes members had responded to, only 20 had notes with enough votes to be publicly shown
Kwanwoo Jun / Wall Street Journal:
Samsung reports Q3 revenue up 17% YoY to ~$57.4B, net profit up 73% to ~$7.3B, operating profit of ~$6.7B, and chip unit operating profit down 40% QoQ to ~$2.8B
New York Times:
Former FTX chief engineer Nishad Singh avoids prison time over his role in the collapse of FTX, after a US judge lauded his cooperation with prosecutors
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