Thursday, September 14, 2023

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☕️ Starlink's $11 billion revenue shortfall

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This is your daily dose of ☕️ Techpresso, where you get the latest tech news of the day effortlessly.

Here's the latest tech news from the last 24 hours:

🛰 Starlink's $11 billion revenue shortfall
🎮 Unity's new pricing angers game developers
🛍️ Amazon unleashes AI for product descriptions
🤖 EY's $1.4 billion investment in AI and training
🚗 Tesla engineers hated the Cybertruck so much they secretly designed an alternative
🐱 SEC action against Mila Kunis and Ashton Kutcher's NFT project

🛰 Starlink's $11 billion revenue shortfallLINK

  • SpaceX's Starlink satellite internet service registered $1.4 billion in 2022 revenue, significantly less than Elon Musk's earlier projection of $12 billion.
  • Starlink reported its first profit in 2023, but the customer acquisition pace has been slower than expected, with one million active subscribers by 2022 end, well below Musk's forecasted 20 million.
  • Starlink's reliability was questioned by the FCC, which reversed its decision to grant Starlink $885.5 million funds, citing failure to meet program requirements.
  • 🎮 Unity's new pricing angers game developersLINK

  • Unity Engine has scrapped its royalty-free licensing structure and will now charge developers on a "per-install" basis after certain thresholds are met.
  • The new Unity Runtime Fee, to take effect from January 1, 2024, will charge different per-install costs depending on the subscription tier.
  • This change has sparked outrage among the game development community who embraced Unity for its previous royalty-free structure.
  • 🛍️ Amazon unleashes AI for product descriptionsLINK

  • Amazon has launched an artificial intelligence tool for sellers to assist in creating compelling product page content.
  • The AI tool's functions include generating product titles, descriptions, and listings, with the potential of enhancing seller success.
  • The drive to use AI in this way forms part of Amazon's wider strategy to incorporate more AI applications into different aspects of its business.
  • 🤖 EY's $1.4 billion investment in AI and trainingLINK

  • EY has announced the launch of, a comprehensive platform aimed at facilitating clients' AI adoption, in collaboration with major companies like Microsoft and IBM.
  • The firm has invested $1.4 billion into the platform, integrating AI into existing EY technologies such as EY Fabric, and is set to release a large language model called EYQ.
  • EY's CTO, Nicola Morini Bianzino, stated that the new proprietary AI offerings provide clients with confidence and a roadmap to successfully navigate their AI adoption journey.
  • 🚗 Tesla engineers hated the Cybertruck so much they secretly designed an alternativeLINK

  • Many Tesla engineers were dissatisfied with the design of the company's Cybertruck, leading them to secretly create alternative designs, according to chief designer Franz von Holzhausen.
  • Despite opposition, Elon Musk was adamant about maintaining the futuristic look of the Cybertruck, rejecting more traditional design concepts.
  • The Tesla Cybertruck sparked significant interest from public with over 200,000 orders made within the first three days of unveiling despite internal disagreements about its design.
  • 🐱 SEC action against Mila Kunis and Ashton Kutcher's NFT projectLINK

  • Mila Kunis and Ashton Kutcher's NFT-based show, Stoner Cats, is charged by the SEC for selling unregistered securities, leading to a $1 million fine.
  • The original owners earned a 2.5% royalty every time a Stoner Cats NFT got resold, which the SEC claims is a return on investment.
  • A Fair Fund is established to return money to people who suffered financial loss from purchasing the NFTs, and Stoner Cats must destroy all NFTs they possess.
  • Other news you might like

    Due to a micrometeoroid incident, NASA astronaut Frank Rubio extended his six-month space-stay to a year, setting a record for the longest continuous space duration by a NASA astronaut.LINK

    Despite initial blaming, Cruise robotaxis were not responsible for a man's death in San Francisco; he was fatally hit by a city bus.LINK

    OpenAI plans to establish its first EU office in Dublin, hiring key legal, policy, and engineering roles, in preparation for impending regulatory challenges. LINK

    Google continues its wave of layoffs with significant cuts in the recruiting division, signaling an overall plan to reduce future hiring.LINK

    Cyber gang 'Scattered Spider' used phishing and malware to attack MGM Resorts, causing network paralysis and operational chaos for ransom payment.LINK

    Musk denies affair allegations with Brin's wife, using a forced selfie, which Brin tried to avoid, as alleged in Musk's new biography.LINK

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