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Here's the latest tech news from the last 24 hours:
🧠 Meta and Microsoft launch AI model Llama 2 for commercial use
🔒 Threads adopts Twitter's post limit to fight spam
💰 Tesla directors return $735 million following overpayment claims
🛡️ US government implements cyber trust label for secure IoT devices
💸 Amazon and Apple slapped with $218M fine for price-fixing in Spain
🧠 Meta and Microsoft launch AI model Llama 2 for commercial useLINK
Meta and Microsoft have collaborated to launch Llama 2, a next-gen AI language model designed for both commercial and research use, with an increased focus on responsible use and open source access.
The AI model is available for free, in both pre-trained and conversation-focused versions, and can be utilized on multiple platforms including Microsoft's Azure AI, Amazon Web Services, and directly on Windows PCs.
With this release, Microsoft aims to stay competitive in the AI space and provide more options for business customers, while also addressing industry concerns about ethical and safety aspects of large-scale AI models.
🔒 Threads adopts Twitter's post limit to fight spamLINK
Meta's social media platform, Threads, plans to introduce Direct Messaging (DMs), allowing users to send private messages, a move contradictory to Instagram CEO Adam Mosseri's initial stance.
CEO Mark Zuckerberg expressed optimism about Threads' growth, emphasizing the next steps of improving user retention and expanding the community, after foundational aspects are solidified.
Available on Apple App Store and Google Play Store, Threads enables users to share posts that include links, photos, and videos, with posts capped at 500 characters and videos at 5 minutes.
💰 Tesla directors return $735 million following overpayment claimsLINK
Tesla's board members, including Elon Musk and Larry Ellison, have agreed to return $735 million to settle claims that they excessively compensated themselves with stock options between 2017 and 2020.
As part of the settlement, the directors also agreed not to receive compensation for 2021 through 2023 and to modify how their compensation is calculated.
This case is separate from another lawsuit where Tesla CEO Elon Musk is defending a $56 billion compensation package, which a shareholder argues was granted even though Musk was not fully dedicated to Tesla.
🛡️ US government implements cyber trust label for secure IoT devicesLINK
The Biden-Harris administration has launched the "US Cyber Trust Mark" program, which will certify and label Internet of Things devices that meet high cybersecurity standards.
The National Institute of Standards and Technology (NIST) will set cybersecurity qualifications for consumer-grade routers by 2023, and the Department of Energy is working to classify smart meters and power inverters for cybersecurity requirements.
The Federal Communications Commission (FCC) will trademark a label for all certified items and create a QR code linking to a database of products for up-to-date information on their adherence to cybersecurity standards, a move supported by companies like Logitech, Best Buy, Samsung, and Amazon.
💸 Amazon and Apple slapped with $218M fine for price-fixing in SpainLINK
Spain's antitrust authority has fined Amazon and Apple a total of €194 million for unfairly restricting competition around the reselling and marketing of Apple products on Amazon's Spanish marketplace.
The competition watchdog found that contractual clauses agreed by the two companies resulted in more than 90% of Apple product resellers being excluded from Amazon's website in Spain, impacting competitive prices and limiting trade between EU Member States.
Both companies have confirmed their intentions to appeal the decision, with Apple citing the goal of the agreements as combating counterfeit goods and safety issues, and Amazon arguing that the agreement benefitted Spanish consumers by increasing product variety and sales volume.
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Dutch e-bike firm VanMoof has declared bankruptcy and is seeking a buyer, following a reported $13.4 million gross margin loss in 2021.LINK
NASA's Artemis II crew, set to be the first to fly around the Moon since 1972, has begun rigorous training for a projected 2024 or 2025 launch.LINK
Emad Mostaque, CEO of Stability AI, has warned that the AI industry may be the "biggest bubble of all time," despite investors' enormous funding efforts.LINK
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