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Hi there, this is your daily ☕️ Techpresso.
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In today's Techpresso: |
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📉 Microsoft to lay off another 9,000 employees
🤖 X to let AI fact-check your posts
⚔️ Altman slams Meta: 'Missionaries will beat mercenaries'
🏦 Tech billionaires launch new bank for startups
💰 Google to pay $314M for 'stealing' mobile data
📈 Figma is going public
🎁 + 10 other news you might like
🔮 + 6 handpicked research papers and tools
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| 📉 Microsoft to lay off another 9,000 employees LINK
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- Microsoft is laying off about 9,000 employees, which affects less than 4% of its global workforce across different teams, geographies, and levels of experience.
- The announcement follows several previous cuts this year, including the elimination of over 6,000 jobs in May and at least 300 more just last month.
- The company stated it wants to reduce the number of layers of managers that stand between individual contributors and the company's top executives.
| 🤖 X to let AI fact-check your posts LINK
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- X will start using AI agents to write drafts for Community Notes, a move to speed up its fact-checking and make the program available to more people.
- The AI-created notes only go public if people with different viewpoints review the drafts and rate the content as helpful, following the same human-approval process.
- Developers can soon submit their own AI agents for review, and the bots can run on any technology, not just the company's own Grok model.
| ⚔️ Altman slams Meta: 'Missionaries will beat mercenaries' LINK
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- Sam Altman called Meta's recruiting efforts "distasteful," telling his team the move will create very deep cultural problems for the competing social media giant.
- He stated that "missionaries will beat mercenaries," claiming the rival firm failed to hire its top targets and had to go far down its list.
- The OpenAI CEO also revealed he is assessing compensation for the entire research organization, arguing its stock holds significantly more upside than the competition's.
| 🏦 Tech billionaires launch new bank for startups LINK
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- Tech billionaires Palmer Luckey and Joe Lonsdale are launching Erebor, a new bank to serve startups and crypto firms that traditional lenders often reject.
- The venture has filed for a national bank charter to provide traditional banking products and give credit to companies that are not well served currently.
- Stablecoins are expected to be a major part of Erebor's operations, as it wants to become a highly regulated entity for facilitating these transactions.
| 💰 Google to pay $314M for 'stealing' mobile data LINK
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- A California court has ordered Google to pay over $314.6 million after a jury found the company liable for sending information from idle Android devices.
- The lawsuit claimed Google programmed phones to transfer data to its servers when not connected to Wi-Fi, using cellular plans customers were paying for.
- This collected information was allegedly used to build more targeted digital advertising for the tech giant and expand its own mapping credibility, the suit states.
| 📈 Figma is going public LINK
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- Figma is going public and has published its S-1 paperwork, detailing company financials after confidentially filing original plans with the SEC on April 15th.
- Its first-quarter revenue grew 46% to $228.2 million year-over-year, while net income increased to $44.9 million from $13.5 million a year earlier.
- The IPO follows a failed $20 billion acquisition by Adobe, which was blocked by regulators and resulted in Figma receiving a $1 billion termination fee.
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Other news & articles you might like
- Qantas hack results in theft of 6 million passengers' personal data LINK
- Tesla reports 14% decline in vehicle deliveries, marking second straight year-over-year drop LINK
- Chipmakers get larger tax credits in Trump's latest 'big beautiful bill' LINK
- Report: Apple's India Manufacturing Dream in Jeopardy Over Exodus of Chinese Workers LINK
- Google undercounts its carbon emissions, report finds LINK
- Scale AI claims autonomy despite Meta's stake LINK
- Nothing's 'first true flagship' phone plays it a little safe LINK
- Apple patent hints at massive leap in camera sensor tech, nearing human eye dynamic range LINK
- Threads gets its own DMs as app distances itself from Instagram LINK
- Intel Abandons 18A for Foundry Clients, Pivots to 14A Amid Sweeping Overhaul LINK
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Trending research and tools
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Huawei AI Model Release: huawei released an open weight model trained using its own Ascend GPUs. LINK
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Windows 11 Insider build bug: a bug in a preview version of Windows is causing some programming languages to return incorrect results for basic math calculations. LINK
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Hilbert's sixth problem: this mathematical challenge is about deriving the equations for large-scale fluid motion from the statistical behavior of microscopic particles. LINK
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How large are large language models?: a factual document tracking the growing size of language models since 2019, listing their parameters and the amount of text data used for their training. LINK
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It is high time we let go of the Mersenne Twister: the paper argues that the popular random number generator is flawed and should be replaced by modern alternatives. LINK
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Large Language Models Don't Make Sense of Word Problems: the study finds these models often solve word problems by learning statistical shortcuts, not by actual reasoning. LINK
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