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Techmeme
September 11, 2023, 11:40 AM
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Reuters:
Sources: seeking to shore up its finances, Embracer is considering options for US-based Borderlands developer Gearbox, acquired in a $1.4B deal in February 2021  —  Embracer (EMBRACb.ST) is considering options for its U.S. game developer Gearbox Entertainment including a sale …
Bloomberg:
Qualcomm says Apple extended its modem deal for three more years, covering “smartphone launches in 2024, 2025, and 2026”; the prior deal was set to end in 2023  —  - Pact between the companies had been scheduled to end this year  — The iPhone maker has been trying to create its own components
Reuters:
Filing: Instacart aims to raise up to $616M in its IPO at an up to $7.73B valuation and prices shares at $26 to $28; the listing is expected later this month  —  Instacart is aiming for a valuation of up to $7.73 billion, the grocery delivery company said on Monday, in its march toward …
WABetaInfo:
WhatsApp releases an Android beta that adds a “Third-party chats” screen, offering a clue for how Meta plans to comply with the EU's DMA interoperability rules  —  WhatsApp is rolling out a new update through the Google Play Beta Program, bringing the version up to 2.23.19.8.
Zack Abrams / The Block:
FTX sues cross-chain swap protocol builder LayerZero Labs, seeking to undo a $45M deal made four days before FTX filed for bankruptcy and a $40M cash withdrawal  —  - The FTX estate is suing blockchain infrastructure company LayerZero Labs in an attempt to undo a $45M deal made in the midst of its collapse.
Wall Street Journal:
A competition between Wharton MBA students and ChatGPT that judges generating ideas for a new product or service finds that 35 of the top 40 came from ChatGPT  —  We put humans and AI to the test.  The results weren't even close.  —  How good is AI in generating new ideas?
Gillian Tett / Financial Times:
An interview with Walter Isaacson on Elon Musk, the new biography, why Musk agreed, the Twitter acquisition, Musk being “driven by demons”, surprises, and more  —  The writer tells Gillian Tett what he learnt during two years spent with ‘total access’ to the tech tycoon
Hunter Walk:
Why there has never been a better time for online creators: it might be harder than ever to earn $1M per year but it has never been easier to make $50,000  —  I judge the health of the creator economy by one single controversial factor: ease of access and probability of survival for its participants.
Manish Singh / TechCrunch:
Coinbase emails its customers in India to say the company plans to cease operations in the country from September 25, advising users to withdraw remaining funds  —  Coinbase said Monday that it has disabled new user sign-up on its exchange product in India, but remains committed to the country …
Wall Street Journal:
Sources: Meta plans to begin training a new LLM in Q1 2024 on its own infrastructure and hopes the model will be roughly as capable as OpenAI's GPT-4  —  Parent of Facebook and Instagram wants artificial-intelligence system to be as capable as OpenAI's most advanced model  —  Platforms is setting its sights on OpenAI.

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From Mediagazer

Todd Spangler / Variety:
The Writers Guild of America sues Paramount and WBD in an effort to stop their merger, claiming the deal would hurt wages and working conditions for writers

Naman Ramachandran / Variety:
BBC DG Matt Brittin says the BBC and UK public service broadcasting face “real jeopardy” as license fee erosion drives BBC's third consecutive annual deficit

Reuters:
Sources: Lionsgate has attracted takeover interest from France's Bolloré Group, owner of Canal+, and Banijay, which just completed an $8B merger with All3Media

More News

Earlier Picks

Max Tani / Semafor:
NewsWhip data on 300K influential X users: X is throttling posts with New York Times links, with “weekly average shares per article” down 75%+ from a July peak
Molly White / Web3 is Going Just Great:
Vitalik Buterin's X account was hacked to promote a crypto scam, leading to an estimated $650K+ of assets being stolen; the tweet was deleted within 20 minutes
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