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☕️ Stripe rival lost $20 billion in value in a single day

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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:

💸 Stripe rival lost $20 billion in value in a single day
🎵 YouTube wants to pay artists and rightsholders for AI music
🔒 Tesla's insider data breach affecting 75,000 employees
🎮 Roblox is facilitating 'illegal gambling', according to lawsuit

💸 Stripe rival lost $20 billion in value in a single dayLINK

  • Adyen, a Dutch payments firm, faced challenges including a pandemic and slower growth, leading to a 39% drop in its shares and a loss of $20 billion in market capitalization.
  • Adyen is a payment services company that collaborates with major clients like Netflix, Meta, and Spotify, offering payment gateway services and point-of-sale systems.
  • Adyen's recent financial results revealed slower revenue growth, attributed to increased competition, rising interest rates, and higher employment costs, prompting a shift from growth to profitability focus.
  • 🎵 YouTube wants to pay artists and rightsholders for AI musicLINK

  • YouTube is launching a Music AI Incubator to collaborate with artists and industry figures like Universal Music Group (UMG) in using AI to enhance music while protecting artists' work.
  • UMG, initially hesitant about AI, is working with YouTube to address the issue of AI models using artists' work without permission or compensation, aiming to establish a structure for fair compensation.
  • YouTube plans to apply AI to identify and prevent copyright abuse and misinformation while ensuring trust and safety, aiming to support artists, creators, and the industry as a whole in embracing AI's potential.
  • 🔒 Tesla's insider data breach affecting 75,000 employeesLINK

  • Tesla attributes a data breach affecting 75,000 employees to insider misconduct, involving two former employees who leaked personal information to a foreign media outlet.
  • The leaked information included employee names, addresses, phone numbers, Social Security numbers, and employment-related records, shared with German newspaper Handelsblatt.
  • Tesla filed lawsuits against the responsible ex-employees and obtained court orders to prevent further dissemination of the data, following a previous incident where workers shared sensitive images from customer cars.
  • 🎮 Roblox is facilitating 'illegal gambling', according to lawsuitLINK

  • Roblox is facing a proposed class-action lawsuit alleging it profits from and supports third-party websites enabling unregulated gambling with its Robux currency, potentially involving minors.
  • The lawsuit names gambling website companies Satozuki, Studs Entertainment, and RBLXWild Entertainment, accusing them of facilitating illegal gambling by allowing users to convert Robux into virtual casino chips for wagers.
  • The gambling sites use fake purchases to transfer Robux, and Roblox charges a 30% transaction fee for both depositing and withdrawing from these sites, while retained Robux losses go to a "stock" account on the Roblox platform.
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    Charles Martinet, the voice actor behind Mario, Luigi, and other iconic characters, is retiring from recording character voices for Nintendo games after decades of portraying Mario, taking on a new role as "Mario Ambassador."LINK

    The UK's competition regulator has approved Broadcom's $69 billion acquisition of VMware after an in-depth investigation, stating it won't weaken competition in critical computer server products.LINK

    Somalia's government plans to block access to social media platforms like TikTok and Telegram due to concerns over extremist content, offensive material, and cultural harm.LINK

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