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Here's the latest tech news from the last 24 hours:
❌ Google cancels $15 billion Silicon Valley campus project
💰 X has started selling off old Twitter handles
📉 Apple sees first full year of falling revenues since 2019
🌍 Mozilla is betting on a decentralized social networking future
🔋 This EV startup was going to revolutionize how cars were made – now, it’s on life support
❌ Google cancels $15 billion Silicon Valley campus projectLINK
Google has ended its $15 billion deal with Lendlease, which was leading four major campus projects in Silicon Valley, due to changes in market conditions.
Despite terminating its agreement with Lendlease, Google will continue to partner with other developers and remain committed to developing up to 15,000 new homes across its varying projects.
Even with the cancellation of the deal, Google's commitment and timeline in San Jose are unaffected, with the company planning to build office, retail, cultural space, and 4,000 new homes, about a quarter of which are targeted as affordable housing.
💰 X has started selling off old Twitter handlesLINK
X has reportedly started selling unused user handles at a flat price of $50,000 each.
Elon Musk, X's owner, had previously expressed plans to free up handles claimed by bots and trolls, and there were discussions among employees about a handle marketplace.
The company updated its policies and begun purging defunct accounts, but it still stated that they couldn't release inactive usernames.
📉 Apple sees first full year of falling revenues since 2019LINK
Apple has experienced its first full fiscal year of declining revenues since 2019 due to decreased Mac and iPad sales.
Despite a higher number of iPhones sold compared to the same period last year, revenues dropped by 3% over the fiscal year, which Apple attributes to "an uneven macroeconomic environment".
Even as the company makes advancements in AI, revenue from Greater China has declined, although CEO Tim Cook insists this is largely due to problems with foreign exchange.
🌍 Mozilla is betting on a decentralized social networking futureLINK
Mozilla is investing in the "fediverse", a collection of decentralized social networking applications like Mastodon, as an alternative to profit-driven social networks like Meta, Snap, and Google.
Mozilla launched a private beta for a Mastodon server named Mozilla.social, with the hope of providing a social networking experience that minimizes problems like misinformation and harassment.
The company is also looking into how it can make it easier for users, including publishers and creators, to join and participate in the fediverse, and is focusing on ensuring a strong content moderation team and other scalable tools for community safety.
🔋 This EV startup was going to revolutionize how cars were made – now, it’s on life supportLINK
Arrival, an EV startup that promised to innovate car production with its microfactories, has encountered several setbacks including workforce layoffs, dropped programs, and a failure to meet SEC filing requirements.
Despite going public in 2021 with a value of $13 billion, the company's current market capitalization is just under $20 million, with no commercial production vehicles to show after raising about $1 billion in capital.
Their future hangs in the balance following administrative changes and repeated restructuring attempts, as well as failing to adhere to their own timelines for delivery and production.
Other news you might like
Musk says X subscribers will get early access to xAI’s chatbot, Grok.LINK
Artists battling AI image generators trained on their work without consent may sabotage AI models as US addresses copyright concerns.LINK
YouTube's crackdown on ad blockers has led to thousands of daily uninstallations, hurting ad-blocking companies and pushing users towards alternative platforms or premium services.LINK
Former Google CEO launched a $100 million company with his girlfriend. It's not going well.LINK
Mark Zuckerberg suffered an ACL tear while training for an MMA fight, has had surgery and recovery may take six to nine months.LINK
Japan's Mobility Show featured a prototype rideable rhinoceros robot that can carry multiple passengers, showcasing the future of personal mobility experiences.LINK
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