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January 20, 2023, 6:40 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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| 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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| 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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Tweets: @shaig, @poordart, and @sujaljethwani
| 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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| 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, 9to5Google, Washington Post, Search Engine Land, Second Guess, and TheStreet
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| Mia Sato / The Verge: |
In a staff call, CNET and Red Ventures executives said they were pausing AI-generated content on CNET and other websites and detailed their proprietary AI tool — The call, which lasted under an hour, was held a week after CNET came under fire for its use of AI tools on stories … | Lora Kolodny / CNBC: |
Internal records: Twitter lost about 80% of staff since Elon Musk took over and now has around 1,300 employees, including fewer than 550 full-time engineers — - Internal records show that Twitter has shed about 80% of its employees since Elon Musk took over and headcount is hovering around 1,300 employees today.
Tweets: @elonmusk
| 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, Game Developer, MobileSyrup, Video Games Chronicle, TheGamer, TechRadar, Pocket-lint, Tom's Hardware, Game Rant, The Shortcut, Destructoid, iPhone in Canada Blog, GameSpot, Gameranx, and GamingBolt
Tweets: @6d6f636869 and @jackal27
| Josh Scott / BetaKit: |
Waterloo-based Magnet Forensics, which develops digital investigation software, agrees to be acquired by Thoma Bravo for CA$1.8B — Announcement comes hours after IIROC halted trading of Magnet's shares. — Kitchener-Waterloo's Magnet Forensics has entered into a definitive agreement … | Drew Harwell / Washington Post: |
Experts argue that 24+ US states banning TikTok is a reflection of government groupthink and an overreaction to an app that officials don't entirely understand — Some states' have copied others' wording, including mistakes, as some professors complain the bans rob them of a teaching tool
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Tweets: @evan_greer, @shiraovide, @neontaster, and @ebakerwhite
| Natasha Singer / New York Times: |
How Dutch privacy negotiators, empowered by GDPR, have spurred major changes at Google, Microsoft, Zoom, and others, as the Netherlands punches above its weight — Dutch privacy negotiators have spurred major changes at Google, Microsoft and Zoom, using a landmark European data protection law as a lever.
Tweets: @coolshannes, @avilarenata, @juliesbrill, and @jason_kint
| Brian Fung / CNN: |
Meta, Twitter, Microsoft, Yelp, Reddit, the EFF, and more file amicus briefs backing Google in Gonzalez v. Google, asking SCOTUS to keep Section 230 protections — A wide range of businesses, internet users, academics and even human rights experts defended Big Tech's liability shield Thursday …
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Ars Technica, Computerworld, Bloomberg, Slashdot, Financial Times, and Search Engine Land. Tweets: @b_fung
| Ronan Shields / Digiday: |
Sources: Google is directing advertisers to work with third-party resellers directly to reduce its ad services overhead and position itself as a SaaS outfit — Alphabet today has confirmed that it plans to cut 12,000 jobs, reportedly the largest round of layoffs in its history … | Sarah Whitten / CNBC: |
Netflix Q4: revenue up 1.9% YoY to $7.85B, $55M net income, down from $607M YoY, and 231M paid memberships, adding 7.66M vs. 4.57M est.; stock closed up 8.46% — - Netflix added 7.66 million paid subscribers during the fourth quarter, more than the 4.57 million Wall Street expected.| Anna Nicolaou / Financial Times: |
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