Shutterstock Developed an Algorithm Google Can't Break
After working on a project with Google, Shutterstock knew that the tech giant would release an algorithm that could wipe the company’s watermark from its stock images, a move that would have opened the door for the general public to do the same and claim copyrighted pictures as their own.
So what do you do when Google can crack your formula for success? You create a stronger one, Shutterstock CEO, Jon Oringer, told Cheddar.
“We made sure that before that paper came out we got ahead of it,” Oringer said. “We developed an even stronger watermark,” adding that this challenge pushed Shutterstock to step up its security game.
But Shutterstock is no stranger to leveling up its business strategies. The company, with a $1.29 billion market cap, recently acquired Canada-based Flashstock Technology for $50 million.
“We are always reinventing ourselves,” Oringer said in the recent interview, saying Shutterstock now has two offices in Canada after its acquisitions.
The executive stated that investing in Flashstock or Shutterstock Custom, as the new division is called, is “super important” for the future of the company, explaining that this investment was an effort to offer clients the ability to access on-brand custom shots.
“Brands have always come to us and said, ‘We like that image, but how do we get our brand in that image,’” he said.
As for creating a brighter future for a company, Oringer shared his top advice for fellow entrepreneurs: be able to play every role before you hand it over to someone else.
“If you start with that culture, if you start with that mindset, that really makes it so that you can scale well into the future,” he told Cheddar.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
