So, what happened this week in the Tech & Startup world? š
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The Grapevine Newsflash š„
11Ā tech & startup stories inĀ 173Ā super-duper short seconds.
š°Ā Big Tech Big Bucks Q1 results show that revenue of the big 5 (Amazon, Apple, Alphabet, Microsoft & Facebook) has increased 25% since the beginning of the pandemic to $1.2 trillion. This is roughly 5% of the GDP of the US. Uneasy questions are on its way - do they have too much power? how do we ensure thereās competition? What will regulators do?
šŖšŗ EU vs. AI The European Commission published their proposals for regulating the application of AI. In particular it highlights areas where AI ought to be prohibited e.g. biometric surveillance by law enforcement. Itās by no means a clear-cut set of guidelines, but itās a start. Will Europe lead in AI regulation like they did with privacy?
š Apple Takes on Privacy The new iOS update enables people to have more control on their data. Now, when an app wants to share our information, weāll have the option to approve or deny. This is great for us, however the advertising industry (and the many small businesses that rely on online advertising) are in uproar.
š„ Zuck vs. Cook The new Apple iOS release is only the latest scuffle between the CEOs of Facebook & Apple. Starting in 2014ā¦ itās been a long feud. Take a look at the history of the fights between the pair here.
š Monetising Propaganda Twitch has a new emerging set of streamers - extremists. Far-right leaders and influencers have been using the tool to not only communicate with viewers live but also benefit from the ease of donations. Should they be banned? How do we protect young people who use the service?
š¤ Europeās #1 Romainian startup, UI Path, went public last week raising $1.3bn at a valuation around $30bn. This is higher than Spotify was valued at when it listed in 2018. What do they do? āRobotic Process Automationā i.e. bots that automate simple tasks traditionally done by humans.
šŗ Prime Time The founders of Monzo & Innocent Drinks are expected to be judges in a new tv show āIncubating Entrepreneursā. Itāll involve a mixture of team challenges, masterclasses, and a final pitch for investment. Amazon Prime is rumoured to be creating it.
šø SexySnaps OnlyFans, the subscription platform that has found a niche in adult-entertainment, has reported it grew 553% in the year to November 2020, and its 120m users spent $2.36bn. Its impact on the industry have been significant and comes at a time where the ācreator economyā is booming. Expect them to diversify beyond their current niche.
š Lyft Off The rideshare company has sold itās self-driving unit to Toyota for $550m. This comes months after Uber sold its division to Aurora (which Toyota also has a stake in). Itās a disappointing end to the promise of a robotaxi future led by these two giants, although highlights both the time needed to develop the technology as well as the costs associated.
āļø Save Your Rep The internet can be a dark placeā¦ and this is especially the case when youāre trying to manage your reputation. Sites like BadGirlReports or WorstHomeWrecker are rife with posts trashing people. It may seem inconsequentialā¦but theyāre powerful and thereās a whole industry behind it. Check it out here.
š„ Meme NFTs Owner of the famous āDisaster Girlā meme, Zoe Roth, has sold the image as an NFT for $500,000. This joins the list of memes that have sold as NFTs including the Nyan cat, āBad Luck Brianā and the āOverly Attached Girlfriendā. In other newsā¦. model Emily Ratajkowski is selling an NFT as a way to āreclaimā images of herself that have been sold throughout her career.
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