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January 20, 2023, 4:10 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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| 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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| 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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| 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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Search Engine Land, Digiday, Adweek, Gizchina, and Ad Age
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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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| 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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Tweets: @6d6f636869, @jackal27, @godfree, and @blun_z
| Catherine Larkin / Bloomberg: |
SEC filing: T-Mobile says a hacker stole the data of ~37M customers, including names, addresses, and phone numbers, but not passwords, SSNs, or credit cards — T-Mobile US Inc. said a hacker obtained data for 37 million customer accounts, though it didn't include payment card information or personal identifying numbers.
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| 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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The Guardian, USA Today, AfroTech, BGR, Observer, Semafor, and The Information
Tweets: @neontaster, @evan_greer, @shiraovide, 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: @avilarenata, @coolshannes, and @juliesbrill
| 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, Search Engine Land, Financial Times, and Bloomberg. Tweets: @b_fung
| Jagmeet Singh / TechCrunch: |
India releases rules on social media influencers and virtual avatars promoting products without disclosing payment, adding an up to ~$12.3K fine for violations — As the market of social media influencers is getting bigger in India, the South Asian nation has introduced endorsement guidelines …
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Tweets: @medianama, @3011_ajit, and @pib_india
| Ronan Shields / Digiday: |
Sources: Google is pushing advertisers to work with third-party resellers directly as it seeks to reduce its overheads related to advertising services — 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, 231M paid memberships, adding 7.66M subscribers vs. 4.57M est.; stock is up 8%+ — - 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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