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Here's the latest tech news from the last 24 hours:
💸 Twitter begins sharing ad revenue with creators
📉 Sharp decline in Threads engagement
🔎 Google faces lawsuit over 'secretly stealing' data to train Bard
📜 China imposes socialist core values in new AI regulations
⚖️ Ripple's landmark win in SEC case
💸 Twitter begins sharing ad revenue with creatorsLINK
Twitter announced a new opportunity for verified content creators with 5 million impressions per month to earn a portion of ad revenue from ads shown in their replies.
Elon Musk, the owner of Twitter since last year, has pledged to pass on all subscription revenue (minus gateway charges) to creators in the first year, demonstrating the company's commitment to encouraging creator monetization.
New CEO Linda Yaccarino is implementing strategies to win back advertisers, including a video advertising service, pursuing more celebrities to join, and exploring a broader partnership with Google for advertising and data access.
📉 Sharp decline in Threads engagementLINK
Meta's new social media app, Threads, despite recently achieving 100 million users, has seen a significant decline in user engagement, with daily active users and time spent on the app both dropping by over 20% and 50% respectively.
Threads is currently unavailable in the EU due to regulatory concerns, and Meta has taken steps to prevent EU users from accessing the platform via VPN, causing issues with notifications, content, and profiles.
While Threads has attracted a large user base, it has faced issues such as a requirement for users to delete their entire Instagram account if they wish to remove Threads, and the app's launch has been criticized as potentially premature.
🔎 Google faces lawsuit over 'secretly stealing' data to train BardLINK
A class-action lawsuit filed in California accuses Google and its AI division DeepMind of using personal data from millions of Americans without consent to train its AI chatbot, Bard.
The lawsuit alleges that Google has accessed at least 200 million copyrighted materials, including texts from books and articles behind paywalls, to enhance AI products like Bard.
According to the legal action, Google has scraped the entire internet, disregarding the privacy, property, and consumer protection interests of millions of Americans, with an intent to profit from their data while creating potentially harmful AI products.
📜 China imposes socialist core values in new AI regulationsLINK
China has issued new interim regulations on generative AI services, taking effect on August 15th, which limit public use but encourage industrial development, while retaining mandates for AI services to adhere to socialist core values.
The regulations also emphasize the importance of intellectual property rights for training data, and prohibit the use of monopolistic or unfair competitive practices, with all training data needing to come from government-approved sources.
While promoting its own AI development, China has shown concern about foreign AI services, such as restricting access to OpenAI's ChatGPT, and the Chinese tech giants Alibaba and Baidu are now working on their own generative AI tools.
⚖️ Ripple's landmark win in SEC caseLINK
The United States District Court ruled in favor of Ripple Labs in their case against the U.S. SEC, officially declaring XRP a non-security.
The Ripple community is now urging various crypto exchanges to relist XRP, with Ripple's CEO Brad Garlinghouse announcing the victory on Twitter.
The price of XRP surged significantly in response to the court ruling, showing a 76.34% increase within 24 hours of the announcement.
Other news you might like
Meta is blocking EU users from accessing its newly launched Instagram Threads app via VPN due to privacy and regulatory concerns.LINK
NASA's Mars Perseverance rover has discovered diverse organic molecules in the Jezero crater, potentially linked to aqueous processes in an ancient lake.LINK
India's Chandrayaan-3 mission, aiming to safely land on the lunar surface after a previous failed attempt, has successfully launched from Sriharikota.LINK
The Knight First Amendment Institute is suing Texas Governor Greg Abott, arguing the state's TikTok ban on public devices violates First Amendment rights and hinders research.LINK
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