Groupon’s founder and former CEO is trying to disrupt a new industry: audio production.
Andrew Mason’s Descript edits audio like a word processor. The app, which launched last week, allows users to transcribe audio files and add or delete words straight from the transcription.
“Something like Descript, where you can just show people words and allow them to use their editorial brain in order to craft content experience instead of doing it through engineering tools, makes it possible for a lot more of us to do this,” Mason told Cheddar.
Mason said that, while some people think of music first when they think audio, his company is targeting “talk-driven media” in both video and audio. The company says that changes made to transcripts will reflect in audio files.
The company says it has 8 staffers on, and recently secured $5 million in funding from venture capital firm Andreessen Horowitz.
For full interview [click here](https://cheddar.com/videos/groupon-co-founder-starts-new-venture).
Darden, the parent company of chain restaurants like Olive Garden and Ruth's Chris Steakhouse, beat Wall Street estimates in its latest earnings report.
A former Facebook executive pled guilty to stealing more than $4 million from the company while she was employed there.
Rising safety concerns over water bead products marketed to kids have prompted major retailers like Amazon, Target and Walmart to pull some toys off their shelves.
The Congressional Budget Office said Friday it expects inflation to nearly hit the Federal Reserve's 2% target rate in 2024, as overall growth is expected to slow and unemployment is expected to rise into 2025, according to updated economic projections for the next two years.
Intel is out with a new product to challenge other big players in the space like Nvidia and AMD.
Stocks fell after the opening bell Friday but will end on another positive week.
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Americans picked up their spending from October to November as the unofficial holiday season kicked off, underscoring that shoppers still have power to keep buying.
The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
Mortgage rates have dropped below 7% for the first time since the middle of August.
