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☆ The TikTok CEO's day in Congress was a 'disaster' that means the app will still likely get banned or sold, Wall Street says
  + stars: | 2023-03-23 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
TikTok CEO Shou Zi Chew testified in front of US Congress, amid calls for a forced sale or ban. But after hours of grilling, the testimony likely had the opposite effect. A sale or ban of TikTok is still likelyWithout a radical shift in the conversation, the status quo is upheld. Which means that the same question is now being asked: Is TikTok more likely to be forced to sell, or will it be banned outright? "It's very possible that Congress advances these bills and, and passes them, but those bills won't ban TikTok," he said.
☆ TikTok commands the attention of 150 million American users. That's its best defense yet against Biden's threat of a ban.
  + stars: | 2023-03-21 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +3 min
TikTok officially has 150 million monthly active users in the US, the company says. The user figures come as TikTok CEO Shou Chew is set to testify in front of Congress on Thursday. It's still not to the threshold of Facebook, which logs 266 million monthly active users in the US, but it's not far behind. (Facebook parent Meta doesn't break out Instagram's monthly active users in the US.) That number also includes about 5 million businesses that use TikTok as a way to reach customers, he said in a TikTok video on Tuesday.
☆ Biden and Trump agree on at least one thing: Something has to be done about TikTok. But it's not that easy.
  + stars: | 2023-03-18 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +7 min
As the Biden administration pushes for a TikTok sale or ban, it's clear the idea has bipartisan support. We've been here before, when the Trump administration pushed TikTok to sell its US operations in much the same way. While the Biden administration's approach to TikTok has been slightly different, it's clear that lawmakers on both sides of the aisle support a TikTok ban. A bill to ban TikTok on federal devices passed in December with bipartisan support in Congress, and was then signed by President Biden. That's likely to happen on a wider scale if the Biden Administration pushed for an immediate ban, experts said.
☆ TikTok may have few buyers, even among Big Tech. Here's who experts say could acquire it.
  + stars: | 2023-03-17 | by ( Dan Whateley | Paayal Zaveri | Grace Kay | ) www.businessinsider.com   time to read: +7 min
The Biden administration and CFIUS are pushing for a sale of TikTok in the US. The Chinese government could also block a TikTok sale outright before bidding kicks off. But the list of companies that would actually consider buying TikTok is small, experts told Insider. "I think Microsoft would be one of the only big money, big company possibilities." Ultimately, separating TikTok's US operations, whether in a sale to a big tech firm or a spin off, is complicated.
☆ Google wasted its pandemic opportunity. Now, it's scrambling to catch up.
  + stars: | 2023-03-15 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +4 min
This Amazon worker similarly enjoys office life. The company is currently also lagging in the AI space (thanks to the buzzy AI chatbot ChatGPT). Now, the company is going all in on AI instead. Check out his experiences with the AI tools here. It remains the only Big Tech company to avoid widespread layoffs.
☆ America's immigration system is a nightmare, and it's forcing tech companies to move jobs outside of the country
  + stars: | 2023-03-14 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +7 min
Leaders like Salesforce CEO Marc Benioff have begun walking back their initial praise of remote work, worrying that it leads to employee underperformance. The most existential question raised by remote work, however, is whether working from home makes workers more replaceable. But remote work has just been a facilitator, they suggest, and the real culprit may very well be America's broken immigration system. The flawed US immigration system is forcing companies to hire elsewhereIt's no secret that the US immigration system is flawed. Remote work makes it possibleRemote work makes it all possible, says Job Van Der Voort, founder of Remote, a startup that helps companies hire workers internationally.
☆ The unintended consequences of remote work
  + stars: | 2023-03-14 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
While remote work offers flexibility, it often comes at the cost of maintaining a work-life balance. Remote work has also made it possible to hire anyone anywhere, which CEOs and hiring managers are starting to realize. Tech companies are offshoring jobs, due to America's broken immigration system, and remote work is making it easier. American tech companies are offshoring jobs, but it isn't all because of remote work. He says remote work led to all of this in the first place.
☆ The tech layoffs have created the perfect moment for tech workers to get organized and unionize, but getting there isn't easy
  + stars: | 2023-03-08 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +7 min
The widespread tech layoffs shattered long-held illusions about the tech industry and its culture. That's pushing interest in organizing and unionization efforts across the tech industry, labor experts said. There are hurdles ahead, as tech workers fear for their jobs, but the perspective has forever changed. These episodes show a certain appetite for collective action in the tech industry, the experts said, laying a foundation for things to come. Tech workers have taken inspiration from the service workers at their respective companies, many of whom have unionized in recent years, Code-CWA's Kinema said.
☆ Salesforce's Marc Benioff says he's following 'the Oracle playbook' to improve profits — and Larry Ellison is helping him
  + stars: | 2023-03-02 | by ( Paayal Zaveri | Ellen Thomas | ) www.businessinsider.com   time to read: +5 min
Marc Benioff said he was adopting Oracle's playbook and being mentored by Larry Ellison as he focuses on profitability. But on Wednesday, Salesforce CEO Marc Benioff admitted that he was adopting Oracle's playbook and being tutored on it by Oracle's founder and chairman Larry Ellison. Benioff started his career at Oracle at age 23, and Ellison made him into a star executive by age 26. The drama started when Oracle started working on a product that competed with Salesforce, eventually leading Benioff to kick Ellison off his board. And now Benioff is publicly thanking Ellison and his Oracle playbook as Salesforce fends off no fewer than five activist investors, all pressuring the company to improve profitability.
☆ Salesforce CEO Marc Benioff says that this is a 'New Day' for Salesforce, focusing on profitability above its famous 'Ohana' mantra
  + stars: | 2023-03-01 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +4 min
As Salesforce faces activist investor pressure, profitability is now CEO Marc Benioff's key focus. Benioff is now touting a strategy called "New Day," focused solely on profitability and efficiency. Instead, those execs hammered on that "New Day" strategy, which emphasizes profitability and efficiency over all else. The company's recent layoffs, as well as Benioff's comments that employees haven't been as productive since the start of the pandemic, have weighed on employee morale. Former co-CEO Bret Taylor and other top execs like Slack CEO Stewart Butterfield have also departed Salesforce in recent months.
☆ Apple and Meta's cold war over privacy is coming to a head
  + stars: | 2023-02-17 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
Do you know any marketing/ad execs who are figuring out how to use generative AI? But experts told my teammate Paayal Zaveri that Meta needs to entirely reinvent its advertising model to escape Apple. Microsoft's new ChatGPT-powered Bing loves to pick fights and sling insults — and people are sharing their wild, wild, wild experiences with the chatbot. Generative AI like ChatGPT can do these side-hustles for you. Freelancers are relying on generative AI to increase their productivity and take on more projects.
☆ Meta's cold war with Apple over privacy is coming to a critical moment
  + stars: | 2023-02-16 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +6 min
Meta's ads unit will only recover if it continues to innovate so it doesn't need to track user data to sell ads. In 2021, Apple changed its iOS operating system to limit the abilities of apps to track user behavior. Apple CEO Tim Cook, for his part, has criticized Facebook's business model several times over the years, with Apple going so far as to declare privacy a "human right." It's clear from Meta's most recent earnings report, and its drive for efficiency and cost-cutting, that this cold war with Apple is taking its toll on the bottom line. "It's forced Meta to move so quickly to building the workarounds, not just to accommodate Apple's changes, but really where it sees the state of digital advertising data use going," Shmulik said.
☆ These 6 charts show how layoffs at Google, Meta, and other tech giants still leave them with more employees than before the pandemic
  + stars: | 2023-02-14 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +2 min
Big tech companies have laid off tens of thousands of employees in recent months. The cuts seem dramatic, as tech workers see their livelihoods disrupted during an economic downturn. But charts show that in the big picture, companies are returning to pre-pandemic headcount levels. Even though they've endured big cuts recently, big tech firms still have headcounts that are well above their pre-pandemic levels, reflecting a trend that started well before the pandemic turbocharged their hiring. These six charts show exactly how the job cuts impacted the trends in hiring at Amazon, Meta, Salesforce, Microsoft, and Alphabet.
☆ These charts show just how much cloud spending has slowed at Microsoft, Amazon, and Google
  + stars: | 2023-02-09 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +5 min
The slew of big tech earnings confirmed that cloud growth is slowing and no one is immune. Microsoft, Amazon, and Google all say customers are looking for ways to lower their cloud bills. These charts show just how much cloud growth slowed at the big three cloud providers. These charts show just how much cloud growth slowed at the big three cloud providers:When Microsoft reported earnings results, Wall Street was shocked to see just how much cloud spending had slowed. Microsoft CEO Satya Nadella acknowledged customers of Azure's cloud services were cutting spending, but said he's optimistic spending will bounce back.
☆ The walls are closing in on Google. Here's what it needs to do to survive.
  + stars: | 2023-02-09 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +7 min
Google needs to focus on building up its AI business while also keeping costs under control. Building up its AI business needs to be a top priorityThe events of the last few days show Microsoft and Google are clearly in an AI arms race — one that Google needs to win for its own sake. Google needs to double down on its own AI prowess right now, given the threat, Wall Street analysts said. However, they emphasize that Google needs to be thoughtful and show why its technology is better than OpenAI rather than being reactive. Maintaining efficiency while retaining an innovative cultureTo win in AI, however, Google needs to maintain its culture of innovation.
☆ Amazon's AWS just notched its slowest growth in years. It expects customers to tighten their belts even more.
  + stars: | 2023-02-03 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +2 min
Amazon's cloud business is seeing a slowdown in growth as customers reduce spending. Amazon's execs say AWS growth will decline even further this quarter. All of that translates into less spend at Amazon Web Services, or AWS — Amazon's cash cow that brought in revenues of $21.4 billion last quarter. Analysts were expecting a slowdown in growth after Microsoft also reported slowing cloud growth last week. As corporate customers look to save money in an economic downturn, they want to cut their cloud costs, CEO Andy Jassy said.
☆ Microsoft's landmark deal with OpenAI shows that ChatGPT is going to be the defining technology of 2023
  + stars: | 2023-02-02 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +7 min
It remains to be seen how generative AI will transform our lives, but the tech is here to stay. In 2022, investors put at least $1.37 billion into generative AI startups, usually at the seed stage. Why this iteration of ChatGPT made generative AI so popular right nowIt's important to note that nothing about ChatGPT or generative AI is especially new or novel. In other words, OpenAI's real innovation was taking AI technology that was already out there and making it something that was easy and accessible to anybody. That's one reason why there will be a lot more business uses for generative AI technology than consumer use cases in the near term, said Mark Shmulik, a Bernstein analyst.
☆ Microsoft is chill with employees using ChatGPT — just don’t share ‘sensitive data’ with it.
  + stars: | 2023-02-01 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
Microsoft warned employees against sharing "sensitive data" with ChatGPT. Leaked internal communications revealed that Microsoft's CTO office told employees that using ChatGPT is fine. "Companies and employees are all scrambling to find out the exact rules around using ChatGPT for work." He added: "The interesting thing here is that Microsoft is a big partner and investor of OpenAI, the maker of ChatGPT. In theory, Microsoft stands to gain when ChatGPT collects more data and improves its technology.
☆ The end of Big Tech's subscription addiction
  + stars: | 2023-01-28 | by ( Diamond Naga Siu | Paayal Zaveri | Lisa Ryan | ) www.businessinsider.com   time to read: +4 min
So I was super excited that my teammate Paayal Zaveri wrote about how this model could actually change soon. The market crash could finally break Big Tech's addiction to subscriptions. Paying for things with a subscription has become the norm, in our personal and work lives, Paayal Zaveri writes. That's why industry experts told me usage-based pricing, or paying for only what you use, has gained ground. Today's team: Diamond Naga Siu in San Diego, Paayal Zaveri in San Francisco, Lisa Ryan in New York, and Hallam Bullock in London.
☆ The market crash could finally break Big Tech's addiction to subscriptions
  + stars: | 2023-01-26 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +6 min
With another recession looming, experts say usage-based models will become standard. Now, a decade and a half later, the subscription model is the hallmark of the cloud-computing era. As the name suggests, the usage-based model sees customers only billed for what they use — no more, and no less. Usage-based pricing has drawbacks, but can ultimately pay offThe one drawback of usage-based models for the companies that offer them is a lack of predictability. That, in turn, leaves usage-based companies more susceptible to a downturn, since it's a relatively easy for customers to cut spending.
☆ CEO Satya Nadella prepares Microsoft for an epic bounce-back
  + stars: | 2023-01-26 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
Jumpman, jumpman, jumpman, Nadella's up to something (cloud). Microsoft reported earnings on Tuesday, and its cloud growth is slowing down. But CEO Satya Nadella shared his plan for how Microsoft can rebound with the economy. But Microsoft sees this as an opportunity to assist customers with stretching their IT dollars. Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Matt Weinberger (tweet @gamoid) in San Francisco and Hallam Bullock (tweet @hallam_bullock) in London.
☆ Microsoft CEO Satya Nadella says the great cloud slowdown won't last forever as he shares his plan for a big bounce back
  + stars: | 2023-01-25 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +4 min
Microsoft's earnings report Tuesday showed slowing cloud growth in a reality check for Wall Street. However, Microsoft's CEO and analysts think cloud is poised for a bounce-back after some hard times. Bernstein analysts wrote that Microsoft was the "canary in the coal mine" for cloud. Most analysts seem to agree with Nadella's approach, arguing that the cloud spending slowdown is temporary and not reflective of any longer-term trend. "We still think MSFT is well-placed to capture long-term opportunities," Bernstein analysts wrote to clients.
☆ Salesforce employees demand answers from execs about layoffs
  + stars: | 2023-01-25 | by ( Diamond Naga Siu | ) www.businessinsider.com   time to read: +5 min
Salesforce employees demand answers. More than 500 employees wrote a letter to execs, demanding answers about the layoffs. Amazon employees told not to share confidential info with ChatGPT. Current and former employees told Insider that the social media company is shedding employees. This is what employees told us.
☆ Actor Matthew McConaughey and musician Will.i.am are often involved in company strategy discussions at Salesforce, report says
  + stars: | 2023-01-25 | by ( Sawdah Bhaimiya | Jyoti Mann | ) www.businessinsider.com   time to read: +3 min
Matthew McConaughey and Will.i.am have taken part in corporate strategy discussions at Salesforce, the FT reported. The FT reported, citing a source familiar with the matter, that actor McConaughey and musician and producer Will.i.am are often included in business conversations. McConaughey, meanwhile, has been heavily involved in Salesforce's advertising in recent years, including appearing in its 2022 Super Bowl commercial. According to a different source cited by the FT, McConaughey and Will.i.am are only involved in informal conversations in the business, not meetings around corporate strategy. Salesforce did not immediately respond to a request for comment from Insider about Will.i.am and McConaughey's apparent involvement in corporate discussions.
☆ Salesforce is now facing the very real threat of activist shareholders overthrowing its board and forcing the sale of mega-acquisitions like Slack and Tableau
  + stars: | 2023-01-24 | by ( Paayal Zaveri | ) www.businessinsider.com   time to read: +6 min
Salesforce is now being targeted by a second activist investor: Elliott Management. Activist investors could overhaul Salesforce's board and force it to divest acquisitions like Slack. The cloud software giant is now being targeted by activist firm Elliott Management, which has taken a big stake in the company. Walravens says that the activist firms could encourage Salesforce to rethink its office strategy. The company has invested a lot in a global real estate footprint including its Salesforce Tower headquarters in San Francisco.
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