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X is ‘close to breakeven’ says CEO Linda Yaccarino
  + stars: | 2023-08-10 | by ( Clare Duffy | ) edition.cnn.com   time to read: +5 min
New York CNN —X CEO Linda Yaccarino, leader of the platform formerly known as Twitter, said the company is keeping an eye on new competitor Threads, despite the sharply slowing growth of the rival app from Meta. Musk, who is now the company’s chief technology officer, has also been preparing for a cage fight with Meta CEO Mark Zuckerberg. Yaccarino joined the company after months of turmoil caused by Musk’s takeover, including mass layoffs, controversial policy decisions and various legal battles. Yaccarino, a former marketing executive with NBCUniversal, was brought on to Twitter in part to help revive its advertising business. And she said on Thursday that the company is “close to breakeven.”“Coca Cola, Visa, State Farm is a huge partner, they’re coming back — the last bunch of weeks, continued revenue growth,” Yaccarino said.
Persons: Linda Yaccarino, it’s, ” Yaccarino, they’ll, , Yaccarino, we’re, Staving, Elon Musk, WeChat, Mark Zuckerberg, , Musk, they’re Organizations: New, New York CNN, Twitter, Meta, CNBC, Fidelity, Visa Locations: New York, breakeven, Coca Cola
Others have said they don’t want their work being used to train AI models, which could then be used to imitate them. Amazon removed the fake books being sold under Friedman’s name and said its policies prohibit such imitation. Author Jane Friedman found several books being sold under her name on Amazon, only she didn't write them — she suspects artificial intelligence did. The Authors Guild has been working with Amazon since this past winter to address the issue of books written by AI, Rasenberger said. And, she said, companies and publishers should continue investing in creative work made by humans, even if AI appears more convenient.
Persons: Jane Friedman, I’ve, ” Friedman, , ” Mary Rasenberger, Rasenberger, James Patterson, Roxane Gay, Margaret Atwood —, OpenAI, Friedman, they’d, Ashley Vanicek, , Suzanne Skyvara Organizations: New, New York CNN, Amazon, CNN, Authors, Microsoft, Twitter Locations: New York
The latest rival, Threads, was launched by Facebook-parent Meta and got a stunning start earlier this month. Facebook … when you’re looking for community (or used furniture)With more than 2 billion daily users around the world, it’s tricky to describe the stereotypical Facebook user. Pinterest … when you’re looking for inspirationPinterest lets users easily search for and organize visual-heavy inspiration on a wide range of creative topics. Twitter (aka X) … when you’re looking for what’s going on (for now)For years, Twitter was a central hub for real-time news. Threads … when you’re looking for musings from your favorite influencers, celebs and journalistsThe latest Twitter competitor, Threads, was launched by Facebook and Instagram parent company Meta.
Persons: Elon Musk, Instagram, it’s, Pinterest, , Snapchat, Charlie, “ David, , Nextdoor, Twitch …, Long, Donald Trump, Reddit, Musk, influencers, Jack Dorsey, Alexandria Ocasio Cortez, Chrissy Teigen Organizations: CNN, Facebook, , YouTube, LinkedIn, Capitol, Trump, Twitter, Meta, Democratic Rep Locations: Italy
New York CNN —In mid-July at the construction site at 1 Java Street in Brooklyn, New York, the outside temperatures can reach sweltering highs in the 90s. Geothermal technology is essentially a more eco-friendly version of an HVAC system, allowing the building spaces and water to be cooled and heated more efficiently, without traditional window AC units and natural gas. 1 Java Street in Brooklyn will use a geothermal sytstem for heating and cooling. In the winter, when the underground temperature exceeds the surface air temperature, water is used to transfer heat from the ground to building interiors; the process is reversed in the summer. Installing the building’s geothermal system increased construction costs by around 6%, according to Madi, and required securing equipment and trained manpower that remains relatively scarce.
Persons: New York CNN —, it’s, Biden, Layth Madi, Lendlease’s, , ” Madi, , Adam Alaica, ” Alacia, — Madi, York —, Alacia Organizations: New, New York CNN, New York State, International Energy Agency, CNN, Marvel, Lendlease, Geosource Energy Locations: New York, Brooklyn , New York, Greenpoint, Brooklyn’s, New York City, Brooklyn, Madi, York
New York CNN —Environmental, social and corporate governance, or ESG, investing is on a downward spiral. But in 2022, the pace of inflows quickly eased as a confluence of political, geopolitical and market events severely damaged interest in ESG investing. ESG investing took off and became a buzzword — the “artificial intelligence of six years ago,” said Jenkins. Alphabet reported revenue of $74.6 billion, marking a 7% jump compared to last year and beating Wall Street’s estimates. Banc of California reported a much smaller decline in net income of $2.4 million last quarter.
Persons: ESG, Larry Fink, , Robert Jenkins, Jenkins, , ” Jenkins, he’s, What’s, Clare Duffy, Catherine Thorbecke, Wall, ” Thomas Monteiro, , Elisabeth Buchwald, Jared Wolff, Wolff, PacWest Organizations: CNN Business, Bell, New York CNN, BlackRock, CNN, Lipper, Pleiades Strategy, Google, Microsoft, Wall, Bancorp, Western Bank, Beverly, Santa, Bank Locations: New York, YOLO, Ukraine, Banc, California, Santa Ana, United States
New York CNN —Meta on Tuesday launched a highly anticipated “following feed” option in its Threads app as part of its latest batch of updates that could help the new social platform further chip away at Twitter’s position in the market. The option to see a reverse chronological feed of posts from only accounts a user follows had been one of the most requested features since Threads launched earlier this month. Meta has been steadily rolling out updates to Threads as it tries to keep users engaged in the new app. Threads had a hugely successful launch, topping 100 million sign-ups in its first week, but engagement has declined somewhat since then. Meta’s ongoing work on Threads comes as the chaos at Twitter continues.
Persons: Mark Zuckerberg, , Meta, they’ve, Elon Musk, Organizations: New, New York CNN, Meta, Twitter, Locations: New York
When Musk bought Twitter late last year, he laid out a vision for an “everything” app called X, where users could communicate, shop, consume entertainment and more. Musk — who bought Twitter with a company called X Corp. — tweeted on Sunday that X.com now redirects to Twitter. Musk even told followers that tweets should instead be called “x’s.”On Sunday, CEO Linda Yaccarino seemed to confirm Musk’s vision for the company. Elon Musk has officially rebranded Twitter as "X," as he seeks to turn the platform into an "everything" app. And until Musk rolls out significant changes to the platform, observers of the company say ditching Twitter’s well-known brand is a risky move.
Persons: New York CNN — Elon Musk’s, Musk, — Musk, , , It’s, ” Mike Proulx, Forrester, Proulx, , Linda Yaccarino, ” Yaccarino, Elon Musk, Jonathan Brady, Walter Isaacson, texted Isaacson, ” “, ” Musk, he’s, WeChat, Deloitte, Instagram, Joshua White Organizations: New, New York CNN, Twitter, PayPal, Musk —, X Corp, SpaceX, Facebook, Vanderbilt University Locations: New York, China, Arizona, Michigan
OpenAI’s head of trust and safety is stepping down
  + stars: | 2023-07-21 | by ( Clare Duffy | ) edition.cnn.com   time to read: +2 min
New York CNN —OpenAI’s head of trust and safety announced on Thursday plans to step down from the job. OpenAI CEO Sam Altman called for AI regulation during a Senate panel hearing in March. Willner’s exit comes as OpenAI continues to work with regulators in the United States and elsewhere to develop guardrails around fast-advancing AI technology. OpenAI was among seven leading AI companies that on Friday made voluntary commitments agreed to by the White House meant to make AI systems and products safer and more trustworthy. As part of the pledge, the companies agreed to put new AI systems through outside testing before they are publicly released, and to clearly label AI-generated content, the White House announced.
Persons: New York CNN —, Dave Willner, , chatbot ChatGPT, OpenAI, Sam Altman, , Willner —, Airbnb — Organizations: New, New York CNN, Facebook, White House Locations: New York, OpenAI, United States
This latest round was led by Wellington Management, a firm known for taking companies public. Jens Grede, Skim’s CEO, recently told Dealbook that stock investors have shown an increased interest in consumer-oriented businesses like Skims and that an IPO is something the company wants. “At some point in the future, Skims deserves to be a public company,” he said. If a Skims IPO were to succeed, “companies, CFOs and investors in general will see this as a very positive sign,” said Sokhi. Netflix posted nearly $8.19 billion in revenue for the quarter, compared to the $8.3 billion Wall Street had projected.
Persons: Kim Kardashian, Goldman Sachs, , David Solomon, Ro Sokhi, Cava, “ There’s, Skims, Andy Muir, Jens Grede, Megan Penick, Robinson, Kardashian, we’re, , ” Adam Hodge, Volodymyr Zelensky, Russia “, Tesla, Chris Isidore, Refinitiv, Clare Duffy, Samantha Delouya Organizations: CNN Business, Bell, New York CNN, Wellington Management, Nike, US National Security Council, Russian Defense Ministry, Wednesday, Netflix Locations: New York, Cava, Skims, Russia, Ukraine, Europe, Odesa’s
After surpassing 100 million user sign-ups in less than a week, user engagement on Threads has slowed. Threads daily active users fell from 49 million on July 7, two days after its launch, to 23.6 million users last Friday, according to a report published this week by web traffic analysis firm Similarweb. “I’m very optimistic about how the Threads community is coming together,” Meta CEO Mark Zuckerberg said in a post on the platform Monday. “We’re clearly way out over our skis on this,” Mosseri said in a Threads post the week of the app’s launch. Threads could be a way for Meta to eke additional engagement time out of its massive existing user base.
Persons: It’s, , Mark Zuckerberg, who’s, Adam Mosseri, ” Mosseri, Mosseri, ” Meta, Elon Musk, , Ali Mogharabi, Musk, Scott Kessler, ” Kessler Organizations: New, New York CNN, Meta, Twitter, , ” Morningstar Locations: New York
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Experts, and even some executives overseeing AI companies, say these tools risk spreading false information to mislead voters, including ahead of the 2024 US election. But they now face a perfect storm of factors that could make it harder than ever to keep up with the next wave of election misinformation. Experts worry that the proliferation of generative AI tools, like ChatGPT, could make it easier for bad actors to create election misinformation. OpenAI, the maker of the popular AI chatbot ChatGPT, issued a stark warning about the risk of AI-generated misinformation in a recent research paper. The platforms largely use a mix of human and automated review to identify misinformation and manipulated media.
Persons: Ron DeSantis ’, Donald Trump, Anthony Fauci, Trump, , , “ We’ve, I’m, David Evan Harris, Bhaskar Chakravorti, it’s, Harris, Margaret Mitchell, Andrew Angelov, incentivized, Mitchell, OpenAI, chatbot ChatGPT, Joe Biden’s, Ivy Choi, Meta, Twitter, Elon Musk Organizations: New, New York CNN, Twitter, Florida Gov, , University of Washington, Center, Social, of Technology Institute, Facebook, CNN, The Fletcher School, Tufts University, Google, Pentagon, Republican National Committee, RNC, Democratic, Federal, Commission, YouTube, , Meta Locations: New York, meddle, United States, Washington
Fine wine is souring as investment prices sink
  + stars: | 2023-07-12 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +7 min
New York CNN —Fine wine prices have been rising consistently for years, attracting investors looking to hedge against inflation, economic turmoil and stocks. The company currently manages $375 million worth of fine wine assets (that’s a 45% increase year on year). Fine wine has had a compound annual growth rate of 10% over the last 30 years, according to the Liv-Ex investables index, which tracks the going rates for fine wines. Leading the way in losses is Bordeaux, which experienced the largest drop of all fine wine categories in June. That’s a bit worrisome, said Tiwari, as Bordeaux is the most established region in the fine wine investment market and typically maintains its price stability.
Persons: Jay, David Beckham, Stephen Curry, Liv, , Atul Tiwari, That’s, Tiwari, SVB, Rob McMillan, , we’re, LIV Golf, Chris Isidore, Richard Blumenthal, Ron Price, Jimmy Dunne, Sen, ” Dunne, LIV, Clare Duffy, Clare Organizations: CNN Business, Bell, New York CNN, Cult Wines, SEC, First Citizens Bank, , PGA Tour, Saudi, PGA, Connecticut Democrat, University of Pennsylvania Locations: New York, Bordeaux, London, Silicon, Napa, California, “ California, Saudi, American, Connecticut, Clare
It alleges that Twitter made repeated assurances to employees about its severance plan amid Musk’s takeover in an effort to retain workers. In particular, the complaint claims that Twitter had promised senior employees severance of six months of base pay plus one week for every year of service, in addition to other benefits. In response to a request for comment on the lawsuit, Twitter sent CNN an automated poop emoji. The lawsuit is just the latest legal action brought against Twitter by former employees with severance-related claims. More than 1,500 former employees have filed arbitration claims, after Twitter pushed for anyone who had signed an arbitration agreement while working at the company to pursue their claims out of court.
Persons: New York CNN —, Elon Musk, Courtney McMillian, Musk, Twitter, Kate Mueting Organizations: New, New York CNN, Twitter, CNN, Meta Locations: New York, California
New York CNN —At the start of last year, Meta CEO Mark Zuckerberg was in the hot seat. But then, the attention of lawmakers, media and the tech world writ large abruptly shifted to another tech billionaire: Elon Musk. While Twitter users have lamented what Musk’s ownership has meant for the platform, it may be the best thing that could have happened for Zuckerberg. A billion-user opportunityThe distraction and chaos of Musk’s Twitter takeover could hardly have come at a better time for Zuckerberg and Meta. The Twitter-Threads battle has raised the stakes for another fight: a cage fight that Musk and Zuckerberg have spent the past several weeks planning.
Persons: Mark Zuckerberg, Elon, Twitter, Musk, Zuckerberg, , , Herbert Hovenkamp, , he’s, Meta, Musk’s, “ Elon, Meta —, Donald Trump, Instagram, Adam Mosseri, Zuckerberg’s Organizations: New, New York CNN, Facebook, Apple, Meta, Twitter, University of Pennsylvania’s Carey Law School, Instagram, SpaceX, YouTube Locations: New York, Cambridge
Some investors are shunning Wall Street’s tech frenzy
  + stars: | 2023-07-07 | by ( Krystal Hur | ) edition.cnn.com   time to read: +5 min
CNN —While many on Wall Street have chased the monster rally in mega-cap tech stocks this year, exchange-traded fund (ETF) investors seem to be bucking the “all-in on tech stocks” trend and opting for a more diversified strategy. The Nasdaq Composite index has climbed about 31% for the year, powered by a handful of tech stocks that have soared on hype surrounding artificial intelligence. The Vanguard Information Technology Index Fund saw $955 million of net outflows in the first half of 2023 compared to $291 million net inflows in the first half of last year. Investors had piled into tech-focused ETFs last year when the sector had fallen out of favor, betting that tech stocks would recover, buoyed by an economy that remains resilient despite the Federal Reserve’s punishing pace of interest rate hikes. Now, investors are exiting these ETFs and reallocating their cash to quality stocks with strong balance sheets that can withstand a potential economic downturn, says Todd Rosenbluth, head of research at VettaFi.
Persons: Todd Rosenbluth, , Shelby McFaddin, Larry Fink, Bitcoin, ” Fink, Antoni Trenchev, Charles Schwab, Clare Duffy, paring, Elon Musk, it’s, Read Organizations: CNN Business, Bell, CNN, Vanguard Information Technology, Investors, , Wealth, BlackRock, Fox Business, Federal Reserve, Fidelity Digital Assets, Citadel Securities, Facebook, Twitter, Meta
New York CNN —Facebook-parent Meta on Wednesday officially launched its Twitter competitor, Threads, after first confirming its plans for the app just three months ago. And for Meta, Threads could further expand its empire of popular apps and provide a new platform on which to sell ads. Similar to Twitter, users can reply to, repost and quote others’ Threads posts. Frequent technical issues and policy changes have sent some noteworthy Twitter users heading for the exits. For Meta, Threads could be a way of eking additional engagement time out of its massive existing user base.
Persons: Elon Musk, Meta, , Mark Zuckerberg, it’s, Musk, ” Zuckerberg, hasn’t, Linda Yaccarino, , Adam Mosseri, Zuckerberg Organizations: New, New York CNN, Facebook, Wednesday, Twitter, Elon, Apple, Meta Locations: New York, Instagram
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New York CNN —Dylan Mulvaney on Thursday broke her silence about the fallout that occurred after the trans influencer made two Instagram posts sponsored by Bud Light earlier this year. Bud Light’s sponsorship of an April 1 Instagram post by Mulvaney set off a firestorm of anti-trans backlash and calls for a boycott. But later it released a vague statement from the CEO that failed to offer support for Mulvaney or the trans community. The Bud Light backlash also coincided with anti-LGBTQ+ campaigns against other big brands, including Target. “I think the conversation surrounding Bud Light has moved away from beer, and the conversation has become divisive, and Bud Light really does not belong there, Bud Light should be about bringing people together,” Whitworth said.
Persons: New York CNN — Dylan Mulvaney, Bud Light, Bud Light’s, Mulvaney, ” Mulvaney, Bud, Brendan Whitworth, ” Whitworth, I’ve, ” –, Danielle Wiener, Bronner Organizations: New, New York CNN, American Civil Liberties Union, UCLA School of Law, Target, Bud Light, Anheuser, Busch, CBS, CNN Locations: New York
New York CNN —YouTube said on Monday that it had removed a video of presidential hopeful Robert F. Kennedy, Jr. being interviewed by podcast host Jordan Peterson for violating its policy prohibiting vaccine misinformation. YouTube began cracking down broadly on vaccine misinformation in 2021, following an earlier policy preventing false or misleading claims about Covid-19. Under its policy, YouTube removes false claims about currently administered vaccines that the World Health Organization and local authorities have approved and confirmed to be safe. Although YouTube removed the video, it remains available on Twitter, showing the fractured approach to vaccine misinformation across the internet as his campaign gets underway. Hotez had tweeted in support of a Vice article criticizing Spotify’s handling of vaccine misinformation in an interview with Kennedy on Rogan’s show.
Persons: Robert F, Kennedy, Jr, Jordan Peterson, ” Kennedy, Peter Hotez, podcaster Joe Rogan, Hotez, Elon Musk, Bill Ackman, ” Hotez Organizations: New, New York CNN, YouTube, CNN, Instagram, Children’s Health Defense, World Health Organization, Twitter Locations: New York, Covid
New York CNN —Facebook-parent Meta plans to lower the minimum age for its virtual reality headsets from 13 years old to 10 years old, despite pressure from lawmakers not to market its VR services to younger users. In its Friday blog post, Meta said parents will be able to set time limits and enforce breaks for their preteens on the headsets. Meta also makes it possible to cast content from its VR headsets to a TV or phone screen, so parents can watch what their kids are seeing. Meta’s headset and Horizon Worlds represent Zuckerberg’s vision for a next-generation internet, where users can interact with each other in virtual spaces resembling real life. Update: This story has been updated to reflect Meta’s plan to continue restricting Horizon Worlds to users 13 and older.
Persons: Preteens, Meta, ” Meta, Massachusetts Sen, Ed Markey, Connecticut Sen, Richard Blumenthal, Mark Zuckerberg Organizations: New, New York CNN, Facebook, Connecticut, CNN, Meta Locations: New York, Massachusetts, United States, Canada, Europe
New York CNN —An Amazon worker and union organizer has been given her job back after she appealed her firing by the e-commerce giant earlier this month. Amazon on Thursday confirmed that it had reinstated Jennifer Bates — who became the face of the effort to unionize an Amazon facility in Bessemer, Alabama — following its appeals process. Bates had received notice of her termination from Amazon in early June. Amazon workers at a New York warehouse voted to form the company’s first US union last year, although Amazon has since refused to recognize the union or come to the bargaining table. Other efforts to unionize Amazon facilities, including one across the street from the New York warehouse, have failed.
Persons: Jennifer Bates —, Bates, I’m, ” Bates, Mary Kate Paradis, , Catherine Thorbecke Organizations: New, New York CNN, Amazon, Wholesale, Department Store Union, CNN, National Labor Relations Board Locations: New York, Bessemer , Alabama, United States
Tim Cook bets his legacy on augmented reality
  + stars: | 2023-06-13 | by ( Clare Duffy | ) edition.cnn.com   time to read: +11 min
David Paul Morris/Getty Images Cook speaks in front of an image of an iPhone 4S at Apple headquarters in 2011. Yui Mok/PA Images/Getty Images Tim Cook puts on a Boston Red Sox jersey before a baseball game between the Red Sox and the Detroit Tigers in June 2017. Justin Sullivan/Getty Images Tim Cook signs the box of a new iPhone X at an Apple Store in Palo Alto in November 2017. Andrew Harrer/Bloomberg/Getty Images Cook speaks via video conference at a House Judiciary subcommittee hearing on online platforms and market power in July 2020. In pictures: Apple CEO Tim Cook Prev NextFollowers of the company are divided on what the headset could ultimately mean for Cook.
Persons: Tim Cook, Steve Jobs, Cook, It’s, … it’s, , Margaret O’Mara, Andrew Burton, Phil Schiller, Jobs, David Paul Morris, Apple, Tom Williams, Marcio Jose Sanchez, Bono, Justin Sullivan, Tony Avelar, Stephen Lam, George Washington University's, Alex Brandon, Stephen Colbert, Jeffrey R, Pope Francis, Shutterstock Cook, Maddie Ziegler, AirPods, Monica Davey, James Corden, Pharrell, Beck Diefenbach, Reuters Cook, Yui Mok, Billie Weiss, Donald Trump, Jonathan, Oprah Winfrey, Win McNamee, Theresa Goh, Edgar Su, Andrew Harrer, Graeme Jennings, Noah Berger, Sajid Moinuddin, India's, Francis Mascarenhas, Brooks Kraft, it’s, Mike Bailey, , Tim Bajarin, , ” Bajarin, Bajarin, they’ll Organizations: New, New York CNN, Apple, Vision, Apple Watch, University of Washington, Washington Post, Getty, Reuters, Alamy, Homeland Security, Governmental, Flint Center, Performing Arts, Cook, CBS, Serviziofotograficoor, Primary School, Boston Red Sox, Red Sox, Detroit Tigers, American Technology, White House, Steve Jobs Theatre, Carnegie Library, Central Public Library, Bloomberg, Singapore, Apple Worldwide, Conference, Epic Games, Apple Inc, FBB Capital Partners, Jobs Locations: New York, Cupertino , California, Cupertino, Palo Alto , California, Palo Alto, San Francisco, Down, London, Washington , DC, Oakland , California, Mumbai
But Global Witness' research suggests that this results in job ads being targeted to users based on gender stereotypes. And in some cases, human rights advocates say, the biases that appear to be shown by Facebook's ad system may exacerbate other disparities. Global Witness targeted the ads to adult Facebook users of any gender who resided in, or had recently visited, the chosen countries. Certain roles were less strongly skewed — a package delivery job ad, for example, was shown to 38% women users in the Netherlands. In December, Real Women in Trucking filed its EEOC complaint alleging that Facebook's job ads algorithm discriminates based on age and gender.
Persons: Naomi Hirst, Clara Wichmann, Ashley Settle, Settle, Meta, Linde, Ireland —, Caroline Leroy, Blanvillain, Fondation des Femme, Pat de Brún, de Brún, , Brún, Facebook, Sheryl Sandberg, Sandberg, Peter Romer, Friedman, " Romer, Facebook's, Hirst, Meera Senthilingam, Seth Fiegerman, Carlotta Dotto, Carolina Moscoso, Tal Yellin, Damian Prado, David Blood, Gabrielle Smith Organizations: CNN, Facebook, Global, Facebook's, des, UK, Human Rights, Commissioner's, Meta, US, Employment, Commission, Real Women, Trucking, Ad, Ireland, Fondation des, Amnesty, Employment Opportunity Commission, University of Southern, Real, Data Locations: Europe, France, Netherlands, Canada, United States, India, South Africa, United Kingdom, Indonesia, University of Southern California
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