Facebook parent company Meta is reportedly considering another round of layoffs after cutting 11,000 positions, or 13 percent of its global workforce, in November. Meta made those cuts in a bid to lower costs and increase efficiency as it struggles with financial headwinds along with the rest of the tech sector. The company's much-hyped pivot to the metaverse has yet to pay dividends, and traditional forms of revenue such as advertising spending have fallen due to widespread economic uncertainty. Employees have reported being demoralized by the situation.
TWITTER CHARGING FOR TOOL
Twitter is getting pushback for charging $100 a month for a tool that cash-strapped nonprofits and researchers have come to rely on. Known as the API, or Application Programming Interface, the tool allows organizations to scan the platform for calls for help. Some users are sharing their API keys with do-gooder organizations, but activists are urging Twitter to remove the fee.
AMAZON ROBOTAXI
Zoox, an Amazon-owned startup, is now testing autonomous robotaxis with passengers in California. The company started the tests after getting approval from the state's Department of Motor Vehicles last week. The robotaxis are completely autonomous and have no steering wheels or pedals. They also have bi-directional driving capabilities, meaning they can move forward or backwards with ease. Right now, the permits only apply to a one-mile stretch of road between the Zoox offices and Foster City, California and will only be shuttling employees.
REMOTE WORK COST $12B IN NYC
A Bloomberg News analysis of exclusive data from Stanford University economist Nicholas Bloom found that remote work is costing New York City more than $12 billion a year. Work-from-home reduced the number of days in the office by 30 percent, which meant fewer commutes and fewer workers spending time in the city during the day. The analysis showed that the average worker is spending $4,661 less annually on things like shopping and food.
A rare magnum of Dom Pérignon Vintage 1961 champagne that was specially produced for the 1981 wedding of Prince Charles and Lady Diana has failed to sell during an auction. Danish auction house Bruun Rasmussen handled the bidding Thursday. The auction's house website lists the bottle as not sold. It was expected to fetch up to around $93,000. It is one of 12 bottles made to celebrate the royal wedding. Little was revealed about the seller. The auction house says the bids did not receive the desired minimum price.
The New York Times and President Donald Trump are fighting again. The news outlet said Wednesday it won't be deterred by Trump's “false and inflammatory language” from writing about the 79-year-old president's health. The Times has done a handful of stories on that topic recently, including an opinion column that said Trump is “starting to give President Joe Biden vibes.” In a Truth Social post, Trump said it might be treasonous for outlets like the Times to do “FAKE” reports about his health and "we should do something about it.” The Republican president already has a pending lawsuit against the newspaper for its past reports on his finances.
OpenAI has appointed Slack CEO Denise Dresser as its first chief of revenue. Dresser will oversee global revenue strategy and help businesses integrate AI into daily operations. OpenAI CEO Sam Altman recently emphasized improving ChatGPT, which now has over 800 million weekly users. Despite its success, OpenAI faces competition from companies like Google and concerns about profitability. The company earns money from premium ChatGPT subscriptions but hasn't ventured into advertising. Altman had recently announced delays in developing new products like AI agents and a personal assistant.
President Donald Trump says he will allow Nvidia to sell its H200 computer chip used in the development of artificial intelligence to “approved customers” in China. Trump said Monday on his social media site that he had informed China’s leader Xi Jinping and “President Xi responded positively!” There had been concerns about allowing advanced computer chips into China as it could help them to compete against the U.S. in building out AI capabilities. But there has also been a desire to develop the AI ecosystem with American companies such as chipmaker Nvidia.
U.S. sports betting is booming as NFL and college football fuel massive activity. BetMGM CEO Adam Greenblatt breaks down trends, growth, and what’s next.
President Donald Trump says a deal struck by Netflix last week to buy Warner Bros. Discovery “could be a problem” because of the size of the combined market share. The Republican president says he will be involved in the decision about whether federal regulators should approve the deal. Trump commented Sunday when he was asked about the deal as he walked the red carpet at the Kennedy Center Honors. The $72 billion deal would bring together two of the biggest players in television and film and potentially reshape the entertainment industry.
Disney's changes to a program for disabled visitors are facing challenges in federal court and through a shareholder proposal. The Disability Access Service program, which allows disabled visitors to skip long lines, was overhauled last year. Disney now mostly limits the program to those with developmental disabilities like autism who have difficulty waiting in lines. The changes have sparked criticism from some disability advocates. A shareholder proposal submitted by disability advocates calls for an independent review of Disney's disability policies. Disney plans to block this proposal, claiming it's misleading. It's the latest struggle by Disney to accommodate disabled visitors while stopping past abuses by some theme park guests.
