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Elon Musk announces a new AI company
  + stars: | 2023-07-12 | by ( Catherine Thorbecke | ) edition.cnn.com   time to read: +2 min
CNN —Elon Musk on Wednesday announced the formation of a new company focused on artificial intelligence, after months of teasing plans to build a rival to ChatGPT. In an interview with then-Fox News host Tucker Carlson in April, Musk said teased plans for his new AI venture. The announcement of Musk’s latest venture comes at a precarious moment for Musk. The turbulence at Twitter comes after months of Musk alienating some users and advertisers by slashing staff, pushing through controversial policy changes and making a number of incendiary remarks. In addition to Twitter, Musk runs several other companies, including Tesla, SpaceX, Neuralink and The Boring Company.
Persons: CNN — Elon Musk, Musk, , Tesla, OpenAI, ” Musk, Tucker Carlson, “ We’re, Organizations: CNN, Wednesday, Fox News, Twitter, Meta, SpaceX, The Boring Company Locations: ChatGPT
CNN —A federal judge will not block Microsoft (MSFT) from closing its $69 billion deal to acquire video game giant Activision Blizzard, a defeat for US regulators who had asked for a temporary injunction while legal challenges to the merger unfold. Microsoft could potentially finalize the deal with Activision in a matter of days, ahead of a July 18 contractual deadline, or the parties could mutually seek to extend that timeframe. During a five-day hearing last month in federal court, Microsoft executives including CEO Satya Nadella testified that properties such as “Call of Duty” would not be restricted from competitors following the deal’s close. UK officials also previously moved to block the Activision merger in April, citing some of the same concerns the FTC raised in its case and triggering an appeal from Microsoft. “Microsoft and Activision have agreed with the CMA that a stay of the litigation in the UK would be in the public interest and the parties have made a joint submission … to this effect.”
Persons: , , Jacqueline Scott Corley, Corley, Satya Nadella, Tuesday’s, Microsoft’s, “ We’re, Brad Smith, we’ve, Bobby Kotick, Meta’s, ” Douglas Farrar, we’ll, ” Smith Organizations: CNN, Microsoft, Activision, US, Court, Northern, Northern District of, Sony PlayStation, Federal Trade Commission, FTC, Regulators, Nvidia, Nintendo, , PlayStation, Appeals, Ninth Circuit, Markets, CMA Locations: Northern District, Northern District of California, , San Francisco
CNN —Comedian Sarah Silverman and two authors are suing Meta and ChatGPT-maker OpenAI, alleging the companies’ AI language models were trained on copyrighted materials from their books without their knowledge or consent. A new crop of AI tools has gained tremendous attention in recent months for their ability to generate written work and images in response to user prompts. The large language models underpinning these tools are trained on vast troves of online data. The complaint against Meta similarly claims that the company used the authors’ copyrighted books to train LLaMA, the set of large language models released by Meta in February. The legal action from Silverman isn’t the first to focus on how large language models are trained.
Persons: Sarah Silverman, OpenAI, Silverman, , Christopher Golden, Richard Kadrey, ChatGPT, , Meta, Silverman isn’t, Sam Altman, “ We’re Organizations: CNN, Meta, OpenAI, Facebook Locations: San Francisco federal
A Meta spokesperson did not specify, when asked, how many staffers had been cut from its teams working on elections. Instead, Meta said the social media giant had invested $16 billion in technology and teams since 2016 to protect its users. For years, the social media giant has invested heavily in teams of personnel to root out sophisticated and coordinated networks of fake accounts. In addition to its in-house team, Meta and other social media companies rely on tips from academics and other researchers who specialize in monitoring covert disinformation networks. The launch of Threads even as Meta trims its disinformation-focused personnel comes at a turbulent and transformative time for those tasked with writing and implementing rules on social media platforms.
Persons: Meta, , , , Darren Linvill, Elon Musk, Katie Harbath, Nick Clegg, ’ ” Harbath Organizations: CNN, Facebook, Meta, Clemson University’s, Sputnik, Elon, Twitter, YouTube, Republican, Biden, GOP, Meta Global Locations: United States, Taiwan, Ukraine, India, Myanmar, Africa, Louisiana
The results underscore the risk Meta poses to Twitter’s business and raise questions about how, or if, Twitter can stem its losses. Twitter traffic had already been trending downward for months, according to data from the internet infrastructure company Cloudflare and the web analytics firm Similarweb. “Twitter traffic tanking,” Prince said as he posted the chart. A Twitter rival but not quite a Twitter replacementFueling Threads’ rapid growth has been Meta’s use of Instagram as a springboard to sign up new users, along with what many Threads users have identified as a dissatisfaction with Twitter. But after a Threads user pointed out that the new app was not featured in Twitter’s trending topics tab, Zuckerberg replied “Concerning” with a crying-laughter emoji.
Persons: Mark Zuckerberg, Elon Musk, Zuckerberg, Twitter didn’t, Cloudflare, Matthew Prince, ” Prince, Similarweb, , David Carr, We’ve, Alex Stamos, , Stamos, ” Stamos, Kim Kardashian, Jeff Bezos, Axios, Adam Mosseri, Mosseri, Musk Organizations: Washington CNN, Twitter, Meta, Elon, CNN, , Stanford Internet Observatory, Facebook
And Sweeney continues to tweet under a personal account, using it to announce the move of ElonJets to Threads. The first Threads post on the elonmusksjet account was one announcing that ElonJet had landed on Threads, followed by one asking Meta CEO Mark Zuckerberg if the account could stay. But the elonmusksjet account was temporarily blocked, according to a posting on Sweeney’s personal Threads account, which included a screenshot of message he received from Threads telling him the elonmusksjet account was active once again following a requested review. “Sometimes we need to take action to help keep our community safe.”Since then the Threads account has tracked one Musk flight, from Austin to Brownsville, Texas three days ago. Sweeney also operates a separate Threads account called zuckerbergjet, but it has yet to track any flights since it went live on Threads at the same time elonmusksjet did.
Persons: Elon Musk’s, Jack Sweeney —, , Musk, Sweeney, ElonJet, Mark Zuckerberg, , , elonmusksjet Organizations: New, New York CNN, Meta, Twitter, Facebook Locations: New York, Florida, Austin, Brownsville , Texas
Sure, you can currently Venmo or Zelle your friends instantly, but the banking system hasn’t kept up. Most transfers currently run on old systems that take hours, or even days, to process the money. Kevin Jacques: It’s a network that lets banks transfer money between themselves and between the account holders at the different banks in a near-instant way. The increase in average hourly earnings remained at 0.4% month on month, unchanged from May; and is up about 4.4% from last year. Instagram has more than two billion users, far more than the 238 million users Twitter reported having in the months before Musk took over.
Persons: New York CNN — FedNow, hasn’t, Bell, Kevin Jacques, It’s, You’ve, heartened, Payrolls, Job, Rucha Vankudre, Alicia Wallace, , We’re, , Joseph Davis, Jerome Powell, Candice Tse, Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Brian Fung, Instagram Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Cota Capital, Fed, There’s UPI, Silicon Valley Bank, , Vanguard, Goldman Sachs Asset Management, Meta, Twitter Locations: New York, India, Brazil, Silicon
CNN —When Elon Musk took over Twitter in October and began upending the platform, there weren’t many viable alternatives for frustrated users. ThreadsThreads is Meta’s long-anticipated answer to Twitter and the biggest threat to the social network Musk bought for $44 billion. And Zuckerberg isn’t just looking to catch up to Twitter; he wants to build a service that’s far larger. Spill has also emerged as a haven for Black Twitter users and marginalized communities seeking a safe space online. BlueskyBluesky, a service backed by Twitter co-founder Jack Dorsey, looks identical to Twitter, with one key difference.
Persons: Elon Musk, Musk, Mark, ” Sarah Oh, Alphonzo Terrell, Zuckerberg, hasn’t, ” Zuckerberg, Terrell, , ” Oh, Meta, , Jack Dorsey, Bluesky, Dorsey, Mastodon, It’s, Eugen Rochko, Cohost, reposts, don’t, Jae Kaplan, we’re Organizations: CNN, Twitter, Meta, San Francisco Bay Area, Cohost, , Facebook Locations: San Francisco Bay
Threads is integrated into Instagram, giving it potential access to roughly two billion monthly active users. Threads isn’t available in the European Union, where privacy watchdogs have long been concerned with how Meta handles users’ information. Being big doesn’t run afoul of antitrust law. Leveraging them to enhance the quality of Threads would not in and of itself violate antitrust laws, Mr. Melamed said. “The Threads example shows that big tech companies can also be valuable entrants, bringing new competitive pressure,” Mr. Francis said.
Persons: Nancy Rose, DealBook, ” Ms, Rose, , Doug Melamed, Melamed, , Daniel Francis, Mr, Francis, — Ephrat Livni Organizations: Federal Trade Commission, European Union, Massachusetts Institute of Technology, Twitter, Stanford Law School, Justice Department, New York University, Competition Locations:
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
Washington CNN —In less than 48 hours, Meta’s Twitter rival Threads has surpassed 70 million sign-ups, upended the social media landscape and appears to have rattled Twitter enough that it is now threatening legal action against Meta. By promoting Threads through Instagram, and by sharing Instagram user data with Threads to let people instantly recreate their social networks, Meta has significantly greased the onboarding process. The issue isn’t limited to the realm of social media. Rather than viewing it through the lens of a social media market, one helpful way to look at the issue is from the perspective of the advertising market, he said. That could lead to further antitrust scrutiny for Meta even if the question about competition in social media is ambiguous.
Persons: Elon, Meta, Mark Zuckerberg, , Instagram, Musk, ” Reddit, Alexis Ohanian, Ohanian, Agustin Reyna, Reyna, Adam Mosseri, Geoffrey Manne, ” Manne, Zuckerberg, Manne, Jeff Blattner, Mosseri, Charlotte Slaiman, Organizations: Washington CNN, Meta, Twitter, EU, Google, Center for Law Locations: Europe, Brussels, Portland , Oregon, Washington
Meta’s Threads isn’t worth 11 Twitters
  + stars: | 2023-07-07 | by ( Lauren Silva Laughlin | ) www.reuters.com   time to read: +3 min
On Wednesday, he launched a Twitter competitor, Threads, promptly encouraging Twitter to threaten to sue. Zuckerberg isn’t doing shareholders any favors. It’s less clear if Twitter’s users have moved, but in that sense, Threads may hurt Meta more than it helps. Even if Threads were to put Twitter out of business, that exercise isn’t worth 11 Twitters. Follow @thereallsl on TwitterCONTEXT NEWSTwitter has threatened to sue Meta Platforms over its new Threads app, Reuters reported on July 6.
Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Meta, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, Twitter, Elon, Facebook, Apple, Public, Meta, Semafor, Thomson Locations: Instagram
While the front-runners in the 2024 presidential race have yet to show up on Threads, the new Instagram app aimed at rivaling Twitter, many of the long-shot candidates were quick to take advantage of the platform’s rapidly growing audience. “Buckle up and join me on Threads!” Senator Tim Scott, Republican of South Carolina, wrote in a caption accompanying a selfie of himself and others in a car that he posted on Thursday — by that morning, the app had already been downloaded more than 30 million times, putting it on track to be the most rapidly downloaded app ever. But President Biden, former President Donald J. Trump and Gov. Ron DeSantis of Florida remain absent from the platform so far. And that may be just fine with Adam Mosseri, the head of Instagram, who told The Times’s “Hard Fork” podcast on Thursday that he does not expect Threads to become a destination for news or politics, arenas where Twitter has dominated the public discourse.
Persons: “ Buckle, Tim Scott, Biden, Donald J, Ron DeSantis, Adam Mosseri Organizations: Twitter, Republican, Trump, Gov Locations: South Carolina, Florida
He likes the logo, which he said is close enough to the @ sign to feel familiar to viewers but distinctive enough to attract their attention. She said she would have tried to put the letter “T,” for “Threads,” at the center of the logo instead. Like most modern corporate icons, the Threads logo is required to be highly adaptable. The design may also be aimed to improve Meta’s damaged public image, said Michael Evamy, the author of “Logo,” an anthology of corporate brands and logos. The loopy design of the Threads logo appears friendly and nonthreatening, Mr. Evamy said.
Persons: Janoff, Jessica Walsh, , Michael Evamy, Evamy
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta’s Threads is not Twitter killer, but will pose real threat to Twitter's growth: AnalystJason Moser of Motley Fool discusses the rivalry between Meta's newly-launched Threads and Twitter in both user growth and advertising income.
Persons: Jason Moser, Motley
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
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Persons: Dow Jones
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
Has Zuckerberg invented a Twitter killer? Meta’s new social network had already racked up more than 10 million sign-ups within seven hours of its launch, and attracted celebrities and politicians like Oprah Winfrey and Representative Alexandria Ocasio-Cortez, Democrat of New York. But the presence of big-name advertisers such as Procter & Gamble and Ford points to the bigger commercial stakes in the fight between Mark Zuckerberg’s new platform and Elon Musk’s Twitter. Meta is billing Threads as a “friendly” forum, but the social media giant is gunning for the blue bird. Advertisers are watching closely, even if they can’t buy ads there yet.
Persons: Zuckerberg, Oprah Winfrey, Alexandria Ocasio, Ford, Mark Zuckerberg’s, gunning, ” Martin Sorrell, DealBook Organizations: Procter, Gamble, Elon, Twitter, Meta, S4 Capital Locations: Cortez, New York
Apple | Spotify | Stitcher | Amazon | Google Listen and follow ‘Hard Fork’Instagram is no stranger to taking product ideas from other companies and turning them into their own successes. Just ask Snapchat about Instagram Stories or TikTok about Instagram Reels. This time, the company is coming for Twitter with Instagram Threads. Today, the head of Instagram, Adam Mosseri, on why the company now wants to take on Twitter.
Persons: Instagram, Adam Mosseri Organizations: Apple, Spotify, Twitter
[1/2] Mark Zuckerberg's thread is seen on Meta Threads app in this illustration taken, July 6, 2023. REUTERS/Dado Ruvic/IllustrationLONDON, July 6 (Reuters) - Meta (META.O), the company behind social media giants Facebook and Instagram, has launched its new microblogging platform Threads. Threads accounts are synched to Instagram at the outset, allowing users to keep their usernames and retain followers. One thing Threads has not copied from Twitter is the ability to message other users directly, but Meta CEO Mark Zuckerberg promises there are updates to come. The launch of Threads coincides with a series of decisions by Twitter owner Elon Musk that have sparked controversy, including limiting the number of posts users could see.
Persons: Dado Ruvic, Mark Zuckerberg, Zuckerberg, Instagram, Elon Musk, Jennifer Lopez, Kim Kardashian, Meta, Martin Coulter, Mark Potter Organizations: REUTERS, Facebook, Twitter, European Union, Thomson Locations: Instagram, United States
In Paris, a Dinner at a Former Taxidermy Workshop
  + stars: | 2023-07-06 | by ( Julia Sherman | ) www.nytimes.com   time to read: +3 min
Though far smaller in scale, the debut of We Are Ona’s Paris studio, on a crisp evening in spring, felt just as significant. As the sun set, friends began to trickle in, accepting glasses of celebratory champagne. Kenny Duncan, 35, a sculptor, found common ground with the chef Zélikha Dinga, 34, whose old-world desserts are presented with an artist’s eye. Behind her was an oil painting of a young woman in tears, a self-portrait by her dinner partner, the artist Inès Longevial, 32. “Four hundred people sat on 400 one-of-a-kind chairs,” Pronzato said.
Persons: Pronzato, Ona, Rihanna, Sayaka Sawaguchi, Gil Nogueira, Garde, Louis, Géraud Castor, Castor, Sébastien Meyer, Arnaud Vaillant, Mory Sacko, Louis Vuitton, Tropez, Kenny Duncan, Zélikha Dinga, Celine Pham, Inès Longevial, , he’s, Gaetano Pesce, ” Pronzato, , Organizations: Perron, Cartier, Louis, Reform Locations: Los Angeles, Champagne, Coperni, St ., Inari, Arles, Italian
CNN —Twitter is threatening Meta with a lawsuit after the blockbuster launch of Meta’s new Twitter rival, Threads — in perhaps the clearest sign yet that Twitter views the app as a competitive threat. On Wednesday, an attorney representing Twitter sent Meta CEO Mark Zuckerberg a letter that accused the company of trade secret theft through the hiring of former Twitter employees. “No one on the Threads engineering team is a former Twitter employee — that’s just not a thing,” he said on Threads. Unlike some Twitter rivals, Threads has experienced rapid growth, with Zuckerberg reporting 30 million user sign-ups in the app’s first day. As of Thursday afternoon, Threads was the number-one free app on the iOS App Store.
Persons: Mark Zuckerberg, Alex Spiro, Elon Musk, Meta, Musk, Meta “, ” Spiro, , Andy Stone, , — that’s, Jack Dorsey, Zuckerberg, Carl Tobias, ” Tobias Organizations: CNN, Twitter, Semafor, University of Richmond, Meta
With Twitter in chaos, Mark Zuckerberg looks to pounce
  + stars: | 2023-07-05 | by ( Brian Fung | ) edition.cnn.com   time to read: +7 min
Washington CNN —Mark Zuckerberg has tried for years to take on Twitter. Now he may finally have his best chance to deliver a knockout blow to the social network at a turbulent moment. On Friday, Twitter made tweets inaccessible to anyone who wasn’t logged in, reducing the reach of the platform’s content. For years, Twitter has been the go-to social platform for real-time news and commentary. The more Twitter users head for the exits, the more its alternatives benefit from network effects.
Persons: Washington CNN — Mark Zuckerberg, it’s, Jack Dorsey, Meta, , — Twitter —, Elon, Musk, Zuckerberg, Twitter, Twitter’s, Linda Yaccarino, ” Yaccarino, Eugen Rochko Organizations: Washington CNN, Twitter, Meta, Facebook, — Twitter
Built by Instagram, Threads is positioned as an app where people can have real-time, public conversations with one another. Those interested in signing up for the new app are required to have an Instagram account for now. A user’s Instagram handle must also be their Threads user name. Instagram’s verified users will also be verified on the new app. Users can set their Threads account to be private or public.
Persons: Zuckerberg, , ” Adam Mosseri, Instagram Organizations: Twitter
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