Saturday, June 17, 2023

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☕️ Techpresso: Twitter Reinvents, Microsoft's AI Revenue Peak, Neuralink's Imminent Human Trial, Binance's Deal with SEC and Meta's Controversial Age Adjustment

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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:
🐦 Twitter's bold revamp: emphasis on video, creator and commerce
📈 Microsoft predicts $10 billion annual AI revenue, stock hits record
🧠 Elon Musk's Neuralink set for 'first case' implant this year
💰 Binance strikes deal with SEC, US assets to stay
👀 Meta lowers VR headset usage age limit to 10 years

🐦 Twitter's bold revamp: emphasis on video, creator and commerceLINK

  • Twitter is focusing on video, creator collaborations, and commerce partnerships to diversify its revenue stream beyond digital advertising, according to CEO Linda Yaccarino and owner Elon Musk.
  • Despite initial concerns following Musk's acquisition and subsequent layoffs, major brands have resumed advertising on Twitter, and the platform's commitment to digital advertising remains strong.
  • GLAAD, an advocacy organization, labeled Twitter as the most deficient social media platform in terms of protecting LGBTQ users from hate speech and harassment, with the platform seeing a decline in safety scores from the previous year.
  • 📈 Microsoft predicts $10 billion annual AI revenue, stock hits recordLINK

  • Microsoft's stock reached a new record after JPMorgan analysts highlighted the company's growth prospects in the AI sector, boosted by the popularity of the Microsoft-backed OpenAI's ChatGPT chatbot.
  • Microsoft CFO Amy Hood projected that their next-generation AI business would be the fastest-growing $10 billion business in Microsoft's history, attributing one percentage point of the fiscal fourth-quarter growth for Azure cloud to AI services.
  • Despite challenges in 2022 due to cloud growth concerns and a shrinking PC market, Microsoft's share price has rebounded in 2023 due to positive sentiment around AI, and cost-cutting measures, recouping all its losses from the previous year.
  • 🧠 Elon Musk's Neuralink set for 'first case' implant this yearLINK

  • Elon Musk's brain-chip start-up Neuralink is planning to conduct its first human trial later this year, according to Musk himself.
  • The company recently received clearance from the US FDA for its first-in-human clinical trial, marking a significant milestone.
  • However, Neuralink has faced investigations and scrutiny over its handling of animal experiments and potential safety concerns related to the device, which may affect the timeline for commercial-use clearance.
  • 💰 Binance strikes deal with SEC, US assets to stayLINK

  • Binance and Binance.US have agreed with the U.S. Securities and Exchange Commission (SEC) to keep U.S. customer assets within the country while a lawsuit filed by the SEC is ongoing.
  • The SEC has accused Binance of inflating its trading volumes, misusing customer funds, and misleading investors about its market surveillance controls, leading to the enforcement of stringent controls on asset handling.
  • Although Binance maintains the SEC's emergency relief request was unwarranted, they have agreed to terms that include restricting Binance Holdings officials' access to Binance.US private keys and wallets, and providing additional information to the SEC.
  • 👀 Meta lowers VR headset usage age limit to 10 yearsLINK

  • Meta is officially allowing users as young as 10 to use its Meta Quest 2 and 3 VR headsets, provided they have parental consent, with parents able to control app usage and set time limits.
  • The company will use data collected from 10-12-year-olds to deliver age-appropriate experiences and will not serve ads to this age group, with parents able to control data usage and delete their child's account if desired.
  • Meta acknowledges potential hazards of VR, such as the weight of the headset for young users and the possibility of eye strain and nausea, as well as the potential to affect a child's "reality distinctions", but states it has found no evidence of harm.

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