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☆ The college student who tracks Elon Musk's private jet made Forbes' 30 Under 30 list
▼ + stars: | 2023-11-29 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Jack Sweeney was included on the Forbes 30 Under 30 list for consumer technology. AdvertisementJack Sweeney, the college student who made headlines for tracking Elon Musk's private jets, achieved another milestone on Tuesday when he was included on Forbes' 30 Under 30 list. The 21-year-old University of Central Florida student was listed on Forbes' list of entrepreneurs in consumer technology. The college student told BI he plans to continue working on and improving his jet-tracking projects. I’m honored to have made it on the Forbes 30 Under 30 for Consumer Tech.

Persons: Jack Sweeney, Elon Musk, Sweeney, —, Mark Cuban, Taylor Swift, Forbes, It's, kL6RyjGus4, @Jxck_Sweeney, Mark Zuckerberg, Musk Organizations: Forbes, Elon, Service, of Central Florida, Consumer Tech, Twitter

☆ ChatGPT's father Sam Altman was ousted by OpenAI's board then took a top job at Microsoft over the weekend. Here's how investors, analysts, and insiders reacted to the drama.
▼ + stars: | 2023-11-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Sam Altman was ousted from OpenAI then accepted a top job at Microsoft over the weekend. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOver the course of a whirlwind weekend, OpenAI cofounder Sam Altman was ousted from ChatGPT's parent company and promptly accepted a job running a new AI research team at Microsoft. [Microsoft CEO Satya] Nadella says they're still committed to OpenAI. (Ware predicted brain drain as other OpenAI employees follow Altman to Microsoft or join other rivals now he's no longer in charge.)

Persons: Sam Altman, OpenAI, —, Microsoft didn't, Dan Ives, Altman, — that's, Jason Ware, They've, Satya, Nadella, they're, They're, Ware, Ben Laidler, Emmett, Joshua Mahony, Jim, Fan, Satya swoops, I'm, Jason Calacanis, It's Organizations: Microsoft, Wall Street, Service, Nasdaq, Albion Financial, CNBC, Markets, Nvidia Locations: OpenAI

☆ Alibaba’s U-turn casts dark clouds over China tech
▼ + stars: | 2023-11-17 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

Alibaba (9988.HK) scrapped the spinoff of its prized cloud computing business, blaming U.S. curbs on advanced chips. The U-turn dashes market expectations of stability among technology companies after the end of Beijing’s years-long regulatory crackdown. Add in so-so results from Alibaba’s main businesses, also reported on Thursday, and it is hard to see a silver lining in the dark clouds gathering over China’s technology sector. The technology giant reported revenue of 224.8 billion yuan ($31 bln) in the three months to September, up 9% year-on-year, and in line with market estimates. Alibaba posted a net profit attributable to shareholders of 27.7 billion yuan versus a net loss of 20.6 billion yuan, due to an increase in the value of its equity investments.

Persons: Lisi Niesner, Daniel Zhang, Zhang, Alibaba, Francesco Guerrera, Thomas Shum Organizations: IFA, REUTERS, Rights, Reuters, HK, Thomson Locations: Berlin, Germany, Rights SINGAPORE, Hong Kong, U.S, China

☆ Blue texting bubbles are coming to this Android phone — but there's a catch
▼ + stars: | 2023-11-15 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +5 min

The Nothing Phone 2 will soon give Android users the option to communicate with Apple's iMessage. It works by asking you to log into your iCloud account through a Mac mini server farm, drawing security concerns. If messaging services are dividing phone users, then we want to break those barriers down. AdvertisementWhile a simple switch from green to blue bubbles might sound trivial, there really is an existing communication barrier for some Android users, especially when most of the people they talk to have iPhones. Business Insider previously spoke to Android users in their 20s who said they had received criticism and mean comments about their phone choice.

Persons: Apple's, They'll, —, there's, we've, Marques Brownlee, Brownlee, they're, it's, Zers —, Piper Sandler Organizations: Service, EU, Google, Apple, Android, Business, Union's Locations: London, Canada, Europe

☆ Sony reports 29% drop in operating profit as weakness in chip business hits home
▼ + stars: | 2023-11-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sony on Thursday reported a 29% drop in operating profit in the fiscal second quarter as the Japanese electronics giant suffered from weakness in its imaging sensor — or chip — business. Here's how Sony did in the September quarter versus LSEG consensus estimates:Revenue: 2.8 trillion yen ($18.5 billion) versus 2.87 trillion yen expected. Operating profit: 263 billion Japanese yen versus 304.4 billion yen expected. Sony attributed the significant drop in profit to weakness in its imaging sensor business, as well as declines in profit at its financial services and entertainment, technology and services businesses. Despite the slide in profit, the company increased its sales forecast for the full year, saying it now expects total sales of 12.4 trillion yen (up from earlier forecasts of 12.2 trillion yen) as it benefits from positive foreign exchange rates.

Organizations: Sony, Apple, Writers Guild of America

☆ Apple is not passing on costs of climate goals to consumers, exec says
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +3 min

People stand outside an Apple Store as Apple's new iPhone 15 officially goes on sale across China, in Shanghai, China September 22, 2023. "I want to do it in a way that other businesses can say this isn't because they’re Apple," said Jackson, referring to Cook's direction. Critics say it is easier for a tech company like Apple to meet such goals than it would be for corporations in more energy-intensive industries. Jackson also said Apple is working with smaller processing companies to recycle rare earths and other materials. "That's somewhere Apple can invest and then help to scale and bring (other) businesses along," she said.

Persons: Aly, Lisa Jackson, Alessandra Galloni, Jackson, Tim Cook, Jackson nodded, Jeffrey Dastin, Kenneth Li, Ross Kerber, Daniel Wallis Organizations: Apple, REUTERS, Reuters NEXT, Reuters, U.S . Environmental Protection Agency, Apple Watch, Thomson Locations: China, Shanghai, New York, California, U.S, Boston

☆ The bosses of rival chip giants Nvidia and AMD are cousins, researcher says
▼ + stars: | 2023-11-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed. It has recently emerged that Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed, with 60-year-old Huang being the older cousin. Nvidia and AMD did not immediately respond to requests for comment from Insider sent outside regular business hours. The genealogist — a person who traces lines of family descent — published a condensed family tree on her Facebook account in June. Wu also interviewed a close family member of the two while putting together the family tree, per CNN.

Persons: Jensen Huang, Lisa Su, Su's, —, Huang, Su, Huang's, Jean Wu, It's, Wu, Jensen Organizations: Nvidia, Service, AMD, CNN, Consumer Technology Association webinar, Oneida Baptist Institute, Oregon State University, Massachusetts Institute of Technology, Devices, IBM, Freescale Semiconductor Locations: Taiwan, Taiwanese, Taipei, Thailand, Washington, Kentucky, Tainan, New York

☆ Foxconn sticks to strong end-of-year sales outlook
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Nov 5 (Reuters) - Taiwan's Foxconn (2317.TW), the world's largest contract electronics maker and a major Apple supplier, on Sunday stuck to its previous outlook of strong year-end holiday sales, and said customers were buying well in China and the United States. Foxconn said in a statement that with the second half of the year a "traditional peak season" for consumer tech products, operations "will ramp up sequentially", sticking to its outlook given last month. "Significant growth outlook in the fourth quarter compared to the third quarter remains unchanged," it added, without elaborating. Foxconn releases third-quarter earnings on Nov. 14, when it will give more details on its outlook.

Persons: Ann Wang, Foxconn, Ben Blanchard, David Goodman, Christopher Cushing Organizations: REUTERS, Rights, Apple, Hai Precision Industry Co, Revenue, Thomson Locations: New Taipei City, Taiwan, Rights TAIPEI, China, United States, Taipei

☆ Nvidia and AMD CEOs: Two of the world’s most powerful tech execs come from the same Taiwanese family
▼ + stars: | 2023-11-05 | by ( Michelle Toh | Wayne Chang | ) edition.cnn.com time to read: +10 min

The chief executives of Nvidia (NVDA) and AMD (AMD) aren’t just two of the most powerful people in the global AI chip industry, they’re also family. “For almost half a century now, Taiwan’s economy has been centered on electronics production, chip assembly, chip manufacturing, chip design, everything semiconductors. According to Nvidia, Huang was born in 1963 in Taipei before moving to the southern city of Tainan. “I would say anyone who logs on the internet is likely touching not just one, but dozens and hundreds of Nvidia and AMD chips,” said Miller. I would say anyone who logs on the internet is likely touching not just one, but dozens and hundreds of Nvidia and AMD chips.

Persons: Taipei CNN — Jensen Huang, Lisa Su, they’re, Su, Jean Wu, Wu, Huang, ” Su, ” Wu, ” Christopher Miller, ”, it’s, there’s, Hwa Cheng, Edith Yeung, Miller, Robyn Beck, AMD’s, Florence Lo, “, Christopher Miller Organizations: Taipei CNN, Nvidia, AMD, CNN, Consumer Technology Association, rockstar, Technology, Bloomberg, Getty, Race Capital, ASUS, Consumer, Massachusetts Institute of Technology, Oregon State University, Stanford University, McKinsey, Associated Press, CTA Locations: Hong Kong, Taipei, Taiwan, United States, China, Silicon Valley, Silicon, Tainan, Thailand, Washington, Kentucky, New York City, Las Vegas, AFP, Santa Clara , California

☆ Garmin raises annual sales forecast, beats quarterly estimates
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

A large replica of a fitness smartwatch from Garmin is on display the international consumer technology fair IFA in Berlin, Germany September 2, 2022. REUTERS/Lisi Niesner/File Photo Acquire Licensing RightsNov 1 (Reuters) - Navigation equipment maker Garmin Ltd raised its annual sales forecast ahead of the crucial holiday shopping period as strength in its auto and fitness businesses helped it beat third-quarter revenue estimates. The company had previously forecast revenue of about $5.05 billion and adjusted earnings of $5.15 per share for the year. All of Garmin's segments registered growth in the quarter, except its marine business, which posted a 7% decrease in sales. Excluding items, Garmin earned $1.41 per share, topping expectations of $1.29.

Persons: Lisi Niesner, Cliff Pemble, Juby Babu, Saumyadeb Organizations: Garmin, IFA, REUTERS, Audio, BMW, Thomson Locations: Berlin, Germany, Bengaluru

People visit the LG display at the international consumer technology fair IFA in Berlin, Germany September 2, 2022. Mobile display panel orders are concentrated in the second half of the year, when panels for Apple's latest mobile products are produced before the holiday season. Shares in LG Display rose as much as 8% after the earnings result, versus a 0.7% drop in the wider market (.KS11). "LG Display made it clear it will turn to profit. LG Display posted an operating loss of 662 billion won ($491.11 million) for the July-September quarter versus a loss of 759 billion won a year earlier.

Persons: Lisi Niesner, Sung, Kim, Jeff Kim, midsized, Max, 1,347.9600, Joyce Lee, Heekyong Yang, Clarence Fernandez, Jamie Freed, Lincoln Organizations: LG, IFA, REUTERS, Wednesday, Apple, KB Securities, Analysts, Thomson Locations: Berlin, Germany, SEOUL, Korean

☆ ‘Best performing emerging market’: Analysts name stocks to cash in on India’s boom
▼ + stars: | 2023-10-13 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

"India has been the best performing Emerging Market in terms of USD returns at 8%, surpassing Brazil at 6%," they wrote. In terms of asset allocation, AllianceBernstein is overweight on financials, while allocating a small portion of this weight to utilities. Delhivery is another favorite stock, with a price target of 460 Indian rupees, giving it around 5% upside. Electricity generation company NTPC made the list for its opportunities in thermal, renewables and green hydrogen, the analysts wrote. The asset manager is overweight on the stock at 274 Indian Rupees representing an upside of almost 15% from its Oct. 11 close.

Persons: AllianceBernstein, Venugopal Garre, Zomato, NTPC, Paytm, it's, — CNBC's Michael Bloom Organizations: Stock, HDFC Bank, Jio Financial Services Locations: India, Brazil

☆ The race is on for tech's 'golden goose' — the iPhone of the AI era
▼ + stars: | 2023-10-08 | by ( Aaron Mok | ) www.businessinsider.com time to read: +9 min

Some tech leaders see the gadgets as the iPhone of the AI era, a way to own the hardware we use to interact with AI. A true iPhone successor could be tech's "golden goose," but past attempts have failed. The race is on as generative AI tools like ChatGPT, OpenAI's conversational AI chatbot, take the world by storm. Even though he said AI hardware innovations represent "the golden goose for tech players in the next decade along with software," he doesn't think all of them will be successful. AdvertisementAdvertisementYet, despite AI's impressive capabilities, Haigh said that smartphones may still be easier to use for the average consumer than AI devices, which means that AI personal devices may take awhile to gain public interest.

Persons: —, Mark Zuckerberg, Meta's Ray, Zuckerberg, Victor Virgile, Imran Chaudhri, @ImranChaudhri, knEBVdC7zl, 3vvbPVAFsS, Chaudhri, Jony, Sam Altman, Masayoshi Son, Altman, Marc Benioff, Brad Stone, Jeff Bezos, Dan Ives, Nadella, Cook, Ives, Thomas Haigh, Haigh, Siri Organizations: Service, Tech, Meta, Facebook, Apple, TED, Wedbush Securities, Big Tech, University of Wisconsin, Modern Computing, Google Locations: Milwaukee

"The fourth quarter should see significant growth compared to the third quarter," it added, without elaborating. Foxconn, formally called Hon Hai Precision Industry Co Ltd, said revenue last month reached T$660.7 billion ($20.46 billion), down 19.7% year-on-year but soaring 60.1% from August. Revenue in its smart consumer electronics products, including smartphones, saw strong growth month-on-month "due to new product launches in September", Foxconn said. Foxconn is the world's biggest iPhone assembler, but has been trying to diversify into electric vehicles. It added that September year-on-year revenue for cloud and networking products, which includes servers, declined due to "conservative customer pull-in".

Persons: Dado Ruvic, Foxconn, Ben Blanchard, Sarah Wu, Kim Coghill Organizations: REUTERS, Apple, Hai Precision Industry Co, Revenue, Thomson Locations: TAIPEI, Taipei, Taiwan

☆ Here are Wednesday's biggest analyst calls: Meta, Tesla, Nvidia, Apple, Sunrun, Alphabet, Snowflake & more
▼ + stars: | 2023-10-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.

Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23

Several venture capitalists call New York home and are writing checks to startups of all stages. The city's prominent sectors like finance and media are also prevalent in its VC activity. Insider compiled a list of New York's top VCs, based on recommendations and investment data. The Big Apple's venture capital scene is as strong as ever. This story is available exclusively to Insider subscribers.

Organizations: Street Locations: New York

Sept 18 (Reuters) - Three former Qatalyst Partners bankers have formed a new investment banking boutique called AXOM Partners, which will focus on advising technology companies on mergers and acquisitions (M&A). Qatalyst, the investment bank the trio left behind, also specializes in technology deals and has the No. Most of Qatalysts's deals are worth more $1 billion, and Hightower, Bressers and Weiner will focus on deals that are smaller. Based in San Francisco, AXOM will seek to advise on deals in sectors, including enterprise software, consumer technology, e-commerce and financial technology. All AXOM employees will be rewarded on merit based on an incentive system, and will be allowed to participate in profit distributions, Hightower said.

Persons: Brandon Hightower, Alan Bressers, Ross Weiner, Hightower, Qatalyst, Bressers, Weiner, AXOM, NXP, Inphi Corp’s, Milana Vinn, Aurroa Ellis Organizations: Qatalyst Partners, AXOM Partners, Qatalyst, Expedia, Qualcomm Inc, Devices, Marvell Technology Inc, Technology, Thomson Locations: San Francisco, Qatalyst, New York

☆ This Cord is the One Thing You Need to Buy to Get Ready for the iPhone 15
▼ + stars: | 2023-09-08 | by ( Nick Guy | ) www.wsj.com time to read: +4 min

By Nick GuyEven if you don’t know it by name, you’re likely well acquainted with the Lightning charging cable if you’re an iPhone user. Chances are you’re used to it being frayed, stained and just overall falling apart, as Lightning cables have been around for 11 years. But you’re probably going to need more than just the one cable Apple will likely include in the box. Pick up a handful of Anker 643 USB-C to USB-C Cables now and be prepared to charge wherever, whenever. What to do with your old cablesIf you’ve ended up with a sizable collection of Lightning cables over the years, don’t just throw them in the trash.

Persons: Nick Guy, you’re, Joanna Stern, you’ll, Anker, I’ve, Lavender Grey, headturners, don’t Organizations: Lightning, Apple, Cables, Staples

☆ Qualcomm CEO says AI may breathe new life into smartphones: 'It could create a new upgrade cycle'
▼ + stars: | 2023-09-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Qualcomm Inc. President and CEO Cristiano Amon speaks during the company's press event for CES 2022 at the Mandalay Bay Convention Center on January 4, 2022 in Las Vegas, Nevada. The CEO of U.S. chip giant Qualcomm thinks artificial intelligence could give the smartphone market a fresh lease on life. "The [Snapdragon] Summit is going to be around incredible use cases that we're seeing from our OEMs [original equipment manufacturers] and phones and ... could create a new upgrade cycle for phones." Smartphone sales have depreciated this year as consumers have gotten a lot more cost-conscious. In 2022, global smartphone sales tumbled 11.3% year-over-year to 1.21 billion, the lowest level since 2013, according to data from market research firm IDC.

Persons: Cristiano Amon, CNBC's Arjun Kharpal, Amon Organizations: Qualcomm Inc, Mandalay Bay Convention, CES, Qualcomm, Summit, IDC Locations: Mandalay Bay, Las Vegas , Nevada

REUTERS/Michele Tantussi/File Photo Acquire Licensing RightsSTOCKHOLM, Aug 31 (Reuters) - Advocacy group Noyb on Thursday filed complaints against Google-owned Fitbit in Austria, the Netherlands and Italy accusing the fitness tracking company of violating the European Union's General Data Protection Regulation (GDPR) privacy regime. Vienna-based Noyb (None Of Your Business), the digital rights group founded by privacy activist Max Schrems, has already filed hundreds of complaints against big tech companies ranging from Alphabet Inc's (GOOGL.O) Google to Meta over privacy violations, some leading to big fines. Fitbit forces its users to consent to data transfers outside the EU and does not provide the possibility to withdraw their consent, violating GDPR's requirements, Noyb said. Fines for violating GDPR rules can reach up to 4% of a firm's global annual revenue. While GDPR allows every person to withdraw their consent, Fitbit's privacy policy states that the only way to withdraw consent is to delete an account, which means losing their previously tracked workouts and health data, Noyb said.

Persons: Michele Tantussi, Max Schrems, Noyb, Fitbit, doesn't, Bernardo Armentano, Supantha Mukherjee, Kirsten Donovan Organizations: IFA, REUTERS, Rights, Google, European, Data Protection, Thomson Locations: Berlin, Germany, Rights STOCKHOLM, Austria, Netherlands, Italy, Vienna, Stockholm

☆ Dalvin Brown — Personal Tech reporter at The Wall Street Journal
▼ + stars: | 2023-08-24 | by ( Dalvin Brown | ) www.wsj.com time to read: 1 min

Dalvin BrownDalvin Brown is a Personal Tech reporter at The Wall Street Journal and host of a tech YouTube channel. Dalvin previously covered innovation for the Washington Post, and before that wrote about consumer tech at USA Today. A graduate of Baruch College and an Ida B. Wells Scholar at City University of New York, Dalvin has a master’s degree from the Craig Newmark Graduate School of Journalism in business and economics reporting. He’s a 2020 recipient of the Frederic Wiegold Prize for Business Journalism.

Persons: Dalvin Brown Dalvin Brown, Ida B, Dalvin, Craig Newmark, He’s, Frederic Wiegold Organizations: Wall Street Journal, Washington Post, USA, Baruch College, Wells, City University of New, Craig Newmark Graduate School of Journalism, Business Journalism Locations: City University of New York

☆ Ann-Marie Alcántara — Reporter at The Wall Street Journal
▼ + stars: | 2023-08-17 | by ( Ann-Marie Alcántara | Joanna Stern | ) www.wsj.com time to read: 1 min

Ann-Marie AlcántaraAnn-Marie Alcántara is a reporter covering internet culture for The Wall Street Journal's personal tech bureau in New York. Her work illuminates internet trends, the unexpected consequences of social media and the ways online behaviors shape how we see ourselves and others. Ann-Marie previously covered marketing and advertising for CMO Today at the Journal. She joined the Journal from Adweek, where she wrote about the rise of direct-to-consumer brands and e-commerce. Ann-Marie began her career as a tech reporter at PopSugar covering consumer tech and internet culture.

Persons: Ann, Marie Alcántara Ann, Marie Alcántara, Marie Locations: New York, Adweek

☆ US-China investments: New Biden executive order deals 'major blow' to Chinese startups
▼ + stars: | 2023-08-10 | by ( Michelle Toh | ) edition.cnn.com time to read: +7 min

The Biden administration announced Wednesday it would restrict investments by US venture capital and private equity firms, as well as joint ventures, in Chinese artificial intelligence, quantum computing and semiconductors. The executive order applies to investments in the cities of Hong Kong and Macao, as well as mainland China. She said the new edict suggested that Washington was “trying to ‘decouple’” US and Chinese venture capital, despite the administration’s insistence that it is not trying to halt trade with China. US venture capital investment into China has plummeted about 80% over the past year, according to PitchBook data. And the investment restrictions were long in the works.

Persons: Biden, they’ll, ”, Edith Yeung, Washington, Yeung, Kyle Stanford, Kaidi Gao, Tomohiro Ohsumi, “, Gao, Washington —, Xi Jinping, Gina Raimondo’s Organizations: Hong Kong CNN, CNN, Race Capital, ”, PitchBook, Bloomberg, Getty, Investors, Washington, Sequoia Capital, Chinese Ministry of Commerce, China’s Ministry of Foreign Affairs, US Locations: Hong Kong, China, Macao, Silicon, United States, “ Washington, US, ”, Shanghai, chipmaking, Stanford, Beijing

☆ The edtech startup funding slowdown may be hitting the 'bottom of the market'
▼ + stars: | 2023-08-08 | by ( Madeline Renbarger | ) www.businessinsider.com time to read: +4 min

Edtech venture capital funding in 2023 may be on pace for its lowest annual total since 2016. The one exception to this edtech funding dropoff is in AI tools for education and upskilling. This puts the estimated total funding for 2023 at only $3.5 billion, the lowest annual total since 2016, according to HolonIQ. Additionally, there has not been a single edtech "mega round," or a startup funding round valued at over $100 million since 2022, with the exception of the Indian edtech unicorn Byju's $250 million fundraise this spring. Pujji and Mushin also indicated that AI edtech deals were the exception in this slowdown period.

Persons: VCs, It's, Vinny Pujji, Iynna Halilou, Leeor Mushin, Avalanche's Katelyn Donnelly, Mushin, they've, Chegg's, Cheggmate, Khan, Pujji Organizations: Left Lane Capital, Global, Bloomberg, Investors

☆ China's tech crackdown cost over $1 trillion. But the economy is in such deep trouble that the country's cozying up to its tech firms again.
▼ + stars: | 2023-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

China's tech crackdown wiped $1.1 trillion off the valuation of its Big Tech firms. China's economy is struggling to recover after three years of on-off COVID-19 lockdowns. China cracked down on the country's tech sector in 2020, taking down its Big Tech, whose market value has been wiped by $1.1 trillion. But now, authorities are laying out the red carpet for the same firms because the economy is in deep trouble. Local governments in China are wooing tech giants with at least five recent deals to build on the so-called "platform economy," the South China Morning Post reported on Sunday.

Persons: NetEase, Yin Li, Kuaishou, Yin Yong, Daniel Zhang, Lei Jun, Alibaba, Jack Ma Organizations: Big Tech, Morning, China Morning Post, Sunday, Communist Party Locations: China, Beijing, Hangzhou, Tianjin, Shenzhen

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