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July 11, 2024, 1:00 PM
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Top News

Bloomberg:
Apple settles with the EU over Apple Pay and avoids potential fines by agreeing to open NFC access on iOS to third-party wallet developers for free for a decade  —  - EU accepts Apple pledge to open up payment tech to rivals  — Firm still faces mounting EU antitrust scrutiny in other areas
Leo Schwartz / Fortune:
The US SEC drops its investigation into Paxos over its BUSD stablecoin issued in partnership with Binance, after sending Paxos a Wells notice in February 2023  —  As the crypto industry continues its calls for regulatory clarity, a glaring question has been whether stablecoins …
Vlad Savov / Bloomberg:
IDC estimates that Apple will sell under 500K Vision Pro units in 2024, and the headset's international launch will offset a 75% QoQ drop in US sales in Q3 2024  —  - The pricey headset's US sales are expected to plummet  — A more affordable model in a year's time should help momentum
Sarah Perez / TechCrunch:
An international study of 642 websites and mobile apps offering subscription services finds ~76% with at least one possible dark pattern and ~67% with multiple  —  The U.S. Federal Trade Commission, along with two other international consumer protection networks, announced on Thursday …
Mark Bergen / Bloomberg:
Helsing, which makes AI tools for defense, raised a €450M Series C led by General Catalyst, a source says at a €4.95B valuation, taking its funding to €769M  —  - Company formed in 2021 has now raised nearly €770 million  — Helsing will open entity in Estonia as part of Baltic push
Eduardo Baptista / Reuters:
A SAS survey of 1,600 decision makers in key global markets: 83% of Chinese respondents said they've adopted generative AI vs. 65% in the US and 54% globally  —  China is leading the world in adopting generative AI, a new survey shows, the latest sign the country is making strides in the technology …
Lauren Smiley / Wired:
A profile of Priscila Barbosa, who defrauded Uber and other apps by building a ~$10K-per-month business renting fake accounts to undocumented workers in the US  —  She came to the US with a dream.  Using platforms like Uber, Instacart, and DoorDash, she built a business empire up from nothing.
Brady Dale / Axios:
US prosecutors say crypto exchange BitMEX pled guilty to one count of violating the Bank Secrecy Act by not having an adequate AML program from 2015 to 2020  —  - U.S. agencies are paying attention now, and they are aggressively reviewing those early practices, as we've seen again and again recently.
Rachel Metz / Bloomberg:
A look at the rise in use of the sparkles emoji to market AI products as magic, as some say the imagery distracts from real-world issues the AI industry faces  —  Have you noticed artificial intelligence is looking a lot more sparkly lately?  But first...  Do you believe in magic?
Janko Roettgers / Lowpass:
A US court grants Redbox owner Chicken Soup for the Soul Entertainment Chapter 7 bankruptcy, paving the way for shutting down Redbox and liquidating its assets  —  Court hearing included allegations of fraud  —  Redbox is shutting down, corporate parent is being liquidated
Eleanor Olcott / Financial Times:
Sources: Xiaohongshu, China's fastest-growing social media platform, sold existing shares in recent weeks at a $17B valuation; DST Global took part in the round  —  Yuri Milner's DST Global takes stake at $17bn valuation in rare investment from overseas after China's tech crackdown

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This is a Techmeme archive page. It shows how the site appeared at 1:00 PM ET, July 11, 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

CNN:
Haberman-Swan book: Trump wanted to make Fox News “beg” for a presidential interview, he almost settled for $3M with ABC instead of $16M, and more

Andrew Cohen / InvestmentNews:
Robinhood plans to shutter the Sherwood News site in favor of newsletters and the Robinhood app; at least three reporters were cut in company layoffs this week

Christopher Wiggins / Advocate:
A profile of Don Lemon, whose independent company Lemon Media Network has surpassed 10M followers across platforms, with more than 50% growth in the past year

More News

Bhupendra Paintola / Inc42 Media:
Kearney-Amazon Pay survey of 6K consumers and 1K merchants in 120 Indian cities: 90% prefer digital transactions, 46% of the transactions are digital, and more
Chance Miller / 9to5Mac:
Apple and Google launch a data portability tool that lets Google Photos users move their photos to iCloud, after offering iCloud to Google Photos in March 2021

Earlier Picks

Ryan Gould / Bloomberg:
Sources: Alphabet shelves efforts to acquire HubSpot after the companies failed to reach a point of detailed discussions around due diligence; HUBS drops 10%+
Shubham Sharma / VentureBeat:
AWS launches App Studio, which is a generative AI-powered service letting enterprise users create internal apps using text prompts, in public preview
Evan Gorelick / Bloomberg:
OpenAI and Los Alamos National Laboratory announce a partnership to evaluate how multimodal AI models can be used safely by scientists in laboratory settings
Brody Ford / Bloomberg:
Intuit plans to cut 10% of its global workforce, or ~1,800 employees, and rehire the same number, primarily in its engineering, product, and sales divisions
Chris Welch / The Verge:
Samsung unveils $250 Galaxy Buds3 Pro and $180 Galaxy Buds3, with ANC and switching to an AirPods-like stemmed design and case, available on July 24
Ben Schoon / 9to5Google:
Samsung debuts the Galaxy Z Fold6, with a wider 22.1:9 display, up to 2,600 nits of brightness, a thinner frame, IP48, and seven years of updates, for $1,899
Wes Davis / The Verge:
Google now lets its users set up Advanced Protection Program with a single passkey, using Android or iOS biometric authentication, instead of two physical keys
Dan Goodin / Ars Technica:
Researchers detail the Blast-RADIUS MD5-based vulnerability affecting RADIUS, a widely used network access authentication protocol first developed in 1991
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