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☆ It's just the beginning of M&A in the creator economy. Industry experts predict 2023's top trends, and the buyers and sellers to watch.
  + stars: | 2022-12-19 | by ( Marta Biino | Sydney Bradley | ) www.businessinsider.com   time to read: +12 min
"As a result, institutional acquirers, like PE firms who still have dry powder to spend, will start snatching up mid-to-large sized creator startups at much more advantageous prices." "They're going to see that the creator economy exists as a direct failure of them to support creators," Gestetner said. "But if an opportunity arises for us to significantly enhance our capabilities to make us a better business powering the creator economy, we'll consider it." Startups can expect consolidation in saturated marketsThe crowded niches within the creator economy startup sphere could also face a wave of consolidation. In the creator economy, companies bet on the fact that YouTube advertising revenue on the videos will increase as the audiences of creators grow and they gain more views.
☆ U.S. opens safety probe into autonomous driving system in GM's Cruise vehicles
  + stars: | 2022-12-16 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
WASHINGTON, Dec 16 (Reuters) - U.S. auto safety regulators said Friday they have opened a formal safety probe into the autonomous driving system in vehicles produced by General Motors' (GM.N) robotaxi unit Cruise LLC. The National Highway Traffic Safety Administration (NHTSA) said it has received notices of incidents in which self-driving Cruise vehicles "may engage in inappropriately hard braking or become immobilized." The agency said while both issues "appear to be distinct, they each result in the Cruise vehicles becoming unexpected roadway obstacles." The safety agency's preliminary evaluation covers 242 Cruise autonomous vehicles and is the first step before it could seek a recall. The investigation follows reports of three crashes in which Cruise vehicles were struck from behind by other cars after the autonomous vehicles braked quickly.
☆ Exclusive: ChatGPT owner OpenAI projects $1 billion in revenue by 2024 - sources
  + stars: | 2022-12-15 | by ( Jeffrey Dastin Krystal Hu Paresh Dave | Jeffrey Dastin | Krystal Hu | ) www.reuters.com   time to read: +7 min
Three sources briefed on OpenAI's recent pitch to investors said the organization expects $200 million in revenue next year and $1 billion by 2024. OpenAI was most recently valued at $20 billion in a secondary share sale, one of the sources said. The startup has already inspired rivals and companies building applications atop its generative AI software, which includes the image maker DALL-E 2. OpenAI has also attracted attention as an AI provider and potential Google search competitor, with ChatGPT answering queries for more than 1 million users so far. OpenAI warns users, ChatGPT "may occasionally produce harmful instructions or biased content."
☆ U.S. and Asian allies impose new sanctions on North Korea after ICBM test
  + stars: | 2022-12-02 | by ( ) www.nbcnews.com   time to read: +4 min
South Korea’s foreign ministry announced sanctions on seven other individuals, including a Singaporean and a Taiwanese, and eight entities. The latest sanctions follow a Nov. 18 ICBM test by North Korea, part of a record-breaking spate of more than 60 missile launches this year. There are also concerns that the country may be about to resume nuclear weapons testing, which has been suspended since 2017. Decades of U.S.-led sanctions have failed to halt North Korea’s increasingly sophisticated missile and nuclear weapon programs. “Targeting senior officials inside North Korea responsible for WMD and missile activities and working with South Korea and Japan are important, but it is an inadequate and symbolic response to 60+ missile tests, including 8 ICBM tests,” said Anthony Ruggiero, who headed North Korea sanctions efforts under former President Donald Trump.
☆ ‘Emerald City Nights: Live at the Penthouse’ by Ahmad Jamal Review: A Minimalist Pianist Lets Loose
  + stars: | 2022-12-01 | by ( Will Friedwald | ) www.wsj.com   time to read: +1 min
“Ahmad is one of my favorites,” he told Hentoff in a different interview. “I live until he makes another record. For some, it was a distinct echo of when Louis Armstrong had spoken of his own love for Guy Lombardo a few decades earlier. What Davis—and since then, several generations of jazz players and listeners—loved most about Mr. Jamal becomes crystal clear in two new sets of live recordings from a Seattle nightclub being released on the Jazz Detective label. “Emerald City Nights: Live at the Penthouse 1963-1964” and “Emerald City Nights: Live at the Penthouse 1965-1966” have both been produced by Zev Feldman .
☆ U.S. sanctions 3 people following string of North Korean missile launches
  + stars: | 2022-12-01 | by ( Amanda Macias | ) www.cnbc.com   time to read: +3 min
People watch a TV news program reporting on North Korea test-firing a newly developed tactical guided weapon on April 17, 2022 in Seoul, South Korea. Treasury added that these officials "personally attended numerous ballistic missile launches since at least 2017." The sanctions follow renewed North Korean ballistic missile tests. So far this year, Pyongyang has launched eight intercontinental ballistic missiles and carried out 60 ballistic missile tests. In October, North Korea fired multiple ballistic missiles.
☆ Cuba wins China debt relief, new funds
  + stars: | 2022-11-27 | by ( Marc Frank | ) www.reuters.com   time to read: +2 min
HAVANA, Nov 27 (Reuters) - China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting in Peking between the two Communist countries’ leaders. Gil was speaking in an interview with official media traveling with President Miguel Diaz-Canel as he returned home over the weekend from a tour of Algeria, Russia, Turkey and China. Analysts estimate the debt in the billions of dollars, although no official figures are available. Gil said China had agreed to quickly complete a floating dock, wind power and solar energy project, among others. President Diaz-Canel told the official media after talks in Peking that debt was at the top of his agenda with President Xi Jinping who sympathized with the difficulties Cuba was going through.
☆ Alibaba's Singles Day sales suggest Chinese consumer still not getting better, strategist says
  + stars: | 2022-11-18 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlibaba's Singles Day sales suggest Chinese consumer still not getting better, strategist saysGil Luria of D.A. Davidson says Alibaba's Singles Day sales suggest consumer spending in China is "clearly" not growing, but may not be slowing down as much as it had been.
☆ Democrat Bass wins race for Los Angeles mayor, defeating Caruso
  + stars: | 2022-11-17 | by ( Dan Whitcomb | ) www.reuters.com   time to read: +2 min
LOS ANGELES, Nov 16 (Reuters) - Karen Bass, a Democratic U.S. congresswoman, was projected on Wednesday to beat Rick Caruso in the race for Los Angeles mayor, becoming the first woman to lead the nation's second-largest city. Caruso, a former Republican, also ran as a Democrat in deeply liberal Los Angeles, and the hard-fought campaign was too close to call until a full week after Election Day. Bass was heavily outspent by Caruso, a 63-year-old billionaire who reportedly used more than $100 million of his own money in the campaign. She succeeds outgoing Mayor Eric Garcetti, a Democrat and son of Gil Garcetti, the man who prosecuted O.J. Tom Bradley, the first Black mayor of Los Angeles, served two decades in the job, from 1973 to 1993, and the international terminal of Los Angeles International Airport was named after him.
☆ How OneSchema, a Y Combinator-backed data-importing startup, raised $6.3 million from Sequoia and General Catalyst without a pitch deck
  + stars: | 2022-11-16 | by ( Stephanie Palazzolo | ) www.businessinsider.com   time to read: +3 min
Here's how OneSchema raised $6.3 million from General Catalyst and Sequoia without a pitch deck. Luo's experience inspired him to start OneSchema alongside his cofounder, Christina Gilbert, to try to streamline the data-importing process for companies. The startup recently raised a $6.3 million seed round led by General Catalyst with participation from Sequoia Capital, Y Combinator, Elad Gil, and Contrary Capital. Because of inbound investor interest, OneSchema was able to raise its seed round without a pitch deck, Gilbert told Insider. A decade ago, many might have argued that OneSchema's focus would someday become obsolete because of the development of automated methods to transfer data, Gilbert told Insider.
☆ Iconic Brazilian singer Gal Costa dies at 77
  + stars: | 2022-11-09 | by ( The Associated Press | ) www.nbcnews.com   time to read: +1 min
RIO DE JANEIRO — Singer Gal Costa, an icon in the Tropicalia and Brazilian popular music movements who enjoyed a nearly six-decade career, died on Wednesday. Her death was confirmed by a press representative, who provided no further information. Their joint side project became an important counterculture reference during Brazil’s two-decade military dictatorship, inspiring a record, tour and documentary. In 2011, Costa was awarded a Latin Grammy Lifetime Achievement Award. She remained an active performer until nearly the end, having recently suspended shows to undergo a surgery on one of her nostrils.
☆ IBM Unveils New Chip in Push to Realize Quantum Computing’s Promise
  + stars: | 2022-11-09 | by ( Isabelle Bousquette | ) www.wsj.com   time to read: +5 min
Quantum computers use quantum bits, or qubits, which represent and store information in a quantum state that is a complex mix of zero and one. Jerry Chow, IBM fellow and director of infrastructure for IBM Quantum, at the Watson Research Center. Since 2016, IBM has been putting their quantum computers on the cloud to enable companies, universities and individuals to experiment with the technology. Jerry Chow, IBM fellow and director of infrastructure for IBM Quantum, said the companies would be able to start using the Osprey chip in the first quarter of next year. Boeing Co. said it is using IBM’s quantum computers via the cloud to experiment with modeling chemical reactions related to corrosion on its aircraft.
☆ ‘Yellowstone’ Star Gil Birmingham Left Home So He Could Feel Whole
  + stars: | 2022-11-09 | by ( Marc Myers | ) www.wsj.com   time to read: 1 min
Gil Birmingham, 69, is an actor who co-starred in the “Twilight Saga” films and on TV’s “Pieces of Her” and “Under the Banner of Heaven” series. He currently plays Thomas Rainwater in Paramount Network’s “Yellowstone” series. He spoke with Marc Myers. I never had a permanent home growing up. My family moved around the country so often that my early childhood was a long series of culture shifts and shocks.
☆ IBM launches its most powerful quantum computer with 433 qubits
  + stars: | 2022-11-09 | by ( Jane Lanhee Lee | ) www.reuters.com   time to read: +2 min
[1/2] A computer rendering shows IBM's 433-qubits Osprey quantum processor, with more than three times the qubits of the IBM Eagle processor unveiled in 2021, in this undated handout image. The number of qubits, or quantum bits, are an indication of the power of the quantum computer which uses quantum mechanics, although different quantum computer companies make different claims about the power of their qubits which can be created many different ways. IBM is calling the modular system Quantum System Two. "Quantum System Two is the first truly modular quantum computing system so that you can continue to scale to larger and larger systems over time," Gil told Reuters ahead of the IBM Quantum Summit this week. IBM has over 20 quantum computers around the world, and customers can access them through the cloud.
☆ Republican Rep. Young Kim faces off against Democrat Asif Mahmood in California's 40th Congressional District election
  + stars: | 2022-11-05 | by ( Hanna Kang | ) www.businessinsider.com   time to read: +5 min
Rep. Young Kim is running against Democrat Asif Mahmood in California's 40th Congressional District. The 40th District is an affluent, suburban district anchored in Orange County. CA-13CA-22CA-27CA-41CA-45CA-09CA-47CA-49 HouseRepublican Rep. Young Kim is vying for a second term against Democrat Asif Mahmood in California's 40th Congressional District. California's 40th Congressional District candidatesKim, a freshman representative, sits on the House Committees on Foreign Affairs, Science, Space and Technology, and Small Business. Voting history for California's 40th Congressional DistrictCalifornia's 40th Congressional District is an affluent, suburban district anchored in Orange County.
☆ As North Korea flexes its military muscles, some of South Korea's best submarines may be sidelined
  + stars: | 2022-11-03 | by ( Michael Peck | ) www.businessinsider.com   time to read: +6 min
Nine of South Korea's submarines have defects that could sideline them for extended periods. The issue comes to light as North Korea launches scores of missiles in shows of force to its neighbors. South Korea's sub woes come as North Korea continues to issue threats over joint US-South Korean military exercises that Pyongyang claims are a rehearsal for an invasion. Aircraft in particular would be key to destroying North Korean nuclear sites, artillery emplacements, and even decapitation strikes against the North's leaders. Superior US and South Korean naval capabilities — perhaps assisted by Japanese forces — allow for amphibious landings, special-forces raids, blockades, and shore bombardment.
☆ LAPD captain warned CBS about Les Moonves sexual assault claim, NY attorney general says
  + stars: | 2022-11-02 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +4 min
James said she referred the matter to the California Attorney General's office. The investigation found text messages between the LAPD captain, top-ranking CBS executives and Moonves that revealed the allegations. The captain also worked with executives for several months to prevent the complaint from becoming public, according to the attorney general's release on Wednesday. Moonves left CBS in 2018 after allegations of sexual misconduct and cultural problems in the company. "As a publicly traded company, CBS failed its most basic duty to be honest and transparent with the public and investors."
☆ Les Moonves, CBS to pay $30 million in settlement with NY AG over sexual misconduct allegations
  + stars: | 2022-11-02 | by ( Frank Pallotta | ) edition.cnn.com   time to read: +4 min
New York CNN Business —Leslie Moonves, former chief executive officer of CBS, and CBS reached a $30.5 million settlement with the office of the attorney general of New York, Letitia James, on Wednesday. Moonves stepped down as CBS’ chief executive in 2018 following multiple sexual misconduct allegations. The exit marked the end of Moonves’ tenure atop one of the most powerful companies in the media world. Moonves denied the allegations. Moonves himself must pay $2.5 million, which will also go to CBS shareholders.
☆ Everything you want to know about Big Tech's disappointing earnings
  + stars: | 2022-10-31 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +6 min
For today's newsletter, I caught up with some finance pros over the weekend to get a sense of what we can learn from last week's earnings disappointments. Tech earnings were a huge disappointment and analysts don't see much relief on the horizon. "The common thread between the mega cap tech earnings reports this week is the companies' unwillingness to cut costs aggressively ahead of an economic slowdown, in spite of investor expectations," he said. What was your biggest takeaway from last week's Big Tech earnings? On the company's earnings call, its CFO said the surging dollar has cost Amazon more than $900 million more than expected.
☆ Facebook became Meta one year ago. Its metaverse dream feels as far away as ever
  + stars: | 2022-10-30 | by ( Rachel Metz Clare Duffy | Rachel Metz | Clare Duffy | ) edition.cnn.com   time to read: +11 min
One year and billions of dollars later, the so-called metaverse still feels years away, if it ever manifests at all. And Meta’s flagship social VR app Horizon Worlds can feel like a ghost town (albeit a ghost town with laser tag). Meta’s latest headset, the Quest Pro, is its first effort at combining the immersiveness of VR with the real world. The VR headset market is still tiny compared to, say, an established gadget market like console video games. A visitor to the 2022 Tokyo Game Show tests the Meta Quest 2 VR headset.
☆ Tech earnings just flopped. From Amazon to Meta and Microsoft, here are the biggest takeaways
  + stars: | 2022-10-29 | by ( Phil Rosen | ) www.businessinsider.com   time to read: +4 min
Tech heavyweights like Meta, Amazon, and Microsoft flopped this past week, while Apple reported mixed results. Experts explain the obstacles in front of Big Tech, and what the takeaways from earnings are. Apple proved to be the lone strong point among Big Tech stocks. Weakness in digital advertisingAs the broader economy slows down thanks to the Federal Reserve's interest rate hikes, tech companies have faced a softening in advertising revenue. Big Tech spendingMeta, Alphabet, Microsoft and Amazon reported deceleration in key business lines, but all four insisted they will continue to invest despite the slowdown, Gil Luria, technology strategist at D.A.
☆ LA City Council censures Latino members amid racism scandal
  + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com   time to read: +5 min
LOS ANGELES — The Los Angeles City Council formally rebuked two members and its former president Wednesday for their involvement in a racism scandal that has led to days of protests, police and state investigations and shaken public faith in City Hall. Earlier, the council meeting was called into recess to allow police to clear chanting protesters. Council President Paul Krekorian warned the protesters they would not deter the council’s business. “We will continue to do the work of the people of Los Angeles,” he said. Krekorian, the president, and other council members have said Cedillo and de León must resign.
☆ Check Point Software sees further gains in Q4; CFO to take 6-month leave
  + stars: | 2022-10-27 | by ( Steven Scheer | ) www.reuters.com   time to read: +2 min
For the fourth quarter, Check Point projected revenue of $608-$658 million, up from $599.1 million a year earlier and against analysts' expectations for $630.8 million. While Check Point forecasts a strong end to 2022, chief executive Gil Shwed said it was difficult to estimate next year's outlook. For all of 2022, Check Point expects revenue of $2.299-$2.349 billion, compared to a prior estimate of $2.2-$2.375 billion. Over the past quarter, cyber attacks increased by 28%, underscoring the critical need for cyber security, Shwed said. Check Point has moved to a prevention-first security system that includes securing corporate networks, the cloud and employees who work remotely.
☆ Los Angeles police investigating whether council members were recorded illegally
  + stars: | 2022-10-26 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Phil-Helsel-Circle-Byline-Template.Jpg | Phil Helsel | ) www.nbcnews.com   time to read: +3 min
LOS ANGELES — Los Angeles police are investigating whether audio of members of the City Council making racist comments was recorded illegally, the police chief said Tuesday. The recording from 2021 was leaked online and published by the Los Angeles Times this month. The 2021 meeting was attended by Martinez, council members Kevin de León and Gil Cedillo, and Ron Herrera, the president of the powerful Los Angeles County Federation of Labor. Protesters shouted over council members at their meeting Tuesday, demanding that de León and Cedillo resign, NBC Los Angeles reported. Martinez resigned as a City Council member Oct. 12, two days after she stepped down as council president.
☆ Biden knows there are limits on American power, but they're nowhere to be found in his first major security strategy
  + stars: | 2022-10-25 | by ( Gil Barndollar | Defense Priorities | ) www.businessinsider.com   time to read: +6 min
This month, the Biden administration released its long-delayed National Security Strategy. The brief moment of post-Cold War American hyperpower is long gone, a victim of both natural power dynamics and three decades of incessant American foreign policy hubris and error. Six months before the assault on Ukraine began, the Biden administration admitted the limits of American power in another land that defeated Russian invaders: Afghanistan. The saving grace of the National Security Strategy may be its meaninglessness. The Biden administration's actual emerging national security strategy could be far better than the document lets on.
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