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Techmeme
February 12, 2023, 10:15 PM
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Top News

Financial Times:
Sources: Meta delayed finalizing multiple teams' budgets while preparing a fresh round of job cuts, slowing down projects even for the metaverse and advertising  —  Mark Zuckerberg's aim of wrestling costs in his ‘year of efficiency’ causes disruption at the social media company
Wall Street Journal:
Sources: the SEC has told Paxos it plans to sue the crypto firm, alleging the Binance USD stablecoin, which it issues and lists, is an unregistered security  —  The agency has been intensifying its enforcement of major crypto players  —  The Securities and Exchange Commission …
Emma Roth / The Verge:
Opera says it is testing a new ChatGPT-powered “shorten” feature in its browser that provides bulleted summaries of articles or webpages in the sidebar  —  The feature, called “shorten,” is part of the company's broader plans to integrate AI tools into its browser, similar to what Microsoft's doing with Edge.
Mark Gurman / Bloomberg:
Inside Apple's efforts to develop new financial services, which have suffered from slow progress and missed deadlines due to engineering and technical setbacks  —  Apple's slate of new financial services — including “buy now, pay later” offerings, savings accounts and an iPhone subscription program — have hit delays.
Steve Nadis / Quanta Magazine:
A look at “liquid” neural nets, which change their underlying algorithms based on observed inputs, making them more flexible than standard ML neural networks  —  “Liquid” neural nets, based on a worm's nervous system, can transform their underlying algorithms on the fly, giving them unprecedented speed and adaptability.
Tiffany Hsu / New York Times:
How a slowing digital ad market, Apple's ATT changes, tech companies' internal turmoil, weak content moderation, and more are contributing to a junk ad epidemic  —  Scrolling past ads has rarely been enjoyable.  But in recent months, people say the experience seems so much worse.
Wall Street Journal:
IDC: Pico, owned by ByteDance, gained ~15% of the global VR market share by Q3 2022, a 3x gain YoY; Meta's market share fell from 90% to ~75% in the same period  —  Pico, owned by ByteDance, has increased shipments of VR headsets as it attempts to compete with Meta's Quest 2
Jennifer Elias / CNBC:
Google staff criticize company leadership over the Bard announcement, calling the unveil “botched”, “myopic”, and “un-Googley” on the internal forum Memegen  —  - Google employees took to Memegen this week, filling the message repository with criticisms …
Charlotte Van Campenhout / Reuters:
An advertising joint venture by Deutsche Telekom, Orange, Telefonica, and Vodafone to rival Meta and Google wins unconditional EU antitrust approval  —  Deutsche Telekom (DTEGn.DE), Orange (ORAN.PA), Telefonica (TEF.MC) and Vodafone (VOD.L) on Friday secured unconditional EU antitrust approval …
Clare Duffy / CNN:
Pathmatics estimates the monthly revenue from Twitter's top 1,000 advertisers fell 60%+ from around $127M in October 2022 to just over $48M by January 25, 2023  —  New York CNN —  —  More than half of Twitter's top 1,000 advertisers in September were no longer spending on the platform …
Jonathan Greig / The Record:
The City of Oakland confirms reports of a ransomware attack on its networks but says that 911, financial data, and fire and emergency resources weren't impacted  —  The City of Oakland confirmed reports that its networks had been hit with ransomware after rumors emerged online that several agencies …
Jonathan Vanian / CNBC:
Meta's ad targeting restrictions and Amazon's ad product investments are leading brands to shift ad budgets to Amazon; Amazon's ad business grew 19% YoY in Q4  —  - Facebook's more limited targeted capabilities coupled with Amazon's investment in ads products is leading a growing number of brands to shift their ad budgets.

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About This Page

This is a Techmeme archive page. It shows how the site appeared at 10:15 PM ET, February 12, 2023.

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

Todd Spangler / Variety:
Memo: Skydance offers certain employees a voluntary buyout in a “one-time offer” and moves to a mandatory five-days-per-week in-office policy

Etan Vlessing / The Hollywood Reporter:
Lionsgate and Steven Paul's SP Media form a JV to invest in new businesses and indie film production; a source says Paul is leading an investment of ~$100M

John Jurgensen / Wall Street Journal:
How Martin McDonagh maintains rare full creative and contractual control over his scripts and productions via an ongoing partnership with Searchlight Pictures

More News

Louise Matsakis / Semafor:
Sources: TikTok's Internal Audit team that spied on journalists had wide investigative powers with little oversight; ByteDance says it's restructuring the team
Antonio Olivo / Washington Post:
Some local legislators and residents in Northern Virginia, home to ~275 data centers with dozens more planned, complain of land use, cooling fan noise, and more

Earlier Picks

Benedict Evans:
A 2023 overview of macro tech trends, focusing on the e-commerce slowdown, layoffs, Amazon, advertising, and generative AI opportunities beyond text and images
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