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☆ Dud IPO market closes 2023 with a whimper for the second year in a row
▼ + stars: | 2023-12-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

Another year, another lousy IPO market. The 2023 IPO market is closing with a whimper, not a bang. You'd think the IPO market would be bubbling, but it's dead quiet. Source: Renaissance Capital For a good part of the year, the excuse was interest rates were rising, the market was too volatile, and the after market performance of 2023 IPOs was terrible. The November rally is too little too late to save the IPO market Unfortunately, it all came a little too late to rescue 2023.

Persons: Birkenstock, You'd, Rivian, Doordash, IPOs, Matt Kennedy, Don Short, you've, haven't, confidentially, Waystar, Kim Kardashian's, Musk, Howe Ng, Ng, Kyle Stanford, Instacart, it's, James Ulan, Stanford, Pitchbook, Greg Martin Organizations: Renaissance, That's, IPOs, Hertz, Sotera, ARM, Renaissance Capital, Klarna, Microsoft, Forge Global, Bloomberg, SpaceX, Nvidia, Rainmaker Securities Locations: Pitchbook

☆ Meta to expand encryption on Messenger making it similar to WhatsApp
▼ + stars: | 2023-12-07 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +4 min

Because of the encryption technology "nobody, including Meta, can see what's sent or said, unless you choose to report a message to us," Loredana Crisan, the head of Messenger, wrote in an accompanying blog post . Since 2016, Messenger users could choose, or opt-in, to safeguarding their chats via a process referred to as end-to-end encryption, which scrambles peoples' communications so that third-parties can't eavesdrop and access the data. Although Meta's other messaging app, WhatsApp, also utilizes end-to-end encryption, privacy advocates have generally considered Signal to be a more secure communication service because it collects less user data. "After years of work rebuilding Messenger, we've updated the app with default end-to-end encryption for all personal calls and messages," Meta CEO Mark Zuckerberg wrote in a Facebook post on Wednesday. In 2022, Meta conducted a test on Messenger that let users back up their end-to-end encrypted conversations in case they needed to access them on another device.

Persons: Crisan, what's, Meta, Mark Zuckerberg, Zuckerberg Organizations: Meta, Facebook, Cambridge, Federal Bureau of Investigation, Apple, IBM Locations: Nebraska, San Bernardino , California, WhatsApp, United Kingdom

☆ Meta updates political advertising rules to cover AI-generated images and videos
▼ + stars: | 2023-11-28 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Meta revealed on Tuesday more details about its policies on political ads, including a mandate that advertisers disclose when they use artificial intelligence to alter images and videos in certain political ads. Nick Clegg, Meta's president of global affairs, explained the new ad policies in a blog post, characterizing them as "broadly consistent" with how the social networking giant has typically handled advertising rules during previous election cycles. What's different for the upcoming election season, however, is the increasing use of AI technologies by advertisers to create computer-generated visuals and text. Expanding on a previous announcement by Meta in early November, Clegg said that starting next year, Meta will require advertisers to disclose whether they have used AI or related digital editing techniques "to create or alter a political or social issue ad in certain cases." Meta will also block new political, electoral and social issue ads during the final week of the U.S. elections, which Clegg said was consistent with previous years.

Persons: Mark Zuckerberg, Chuck Schumer, Meta, Nick Clegg, Clegg, Critics, Nancy Pelosi, Zuckerberg Organizations: Facebook, Intelligence, Senate, U.S, Capitol, Washington , D.C, Meta Locations: Washington ,

☆ How Meta could benefit from the OpenAI shakeup
▼ + stars: | 2023-11-22 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

It could help Meta boost its open-source Llama AI initiatives, as some companies look to diversify away from relying on a single company's large language model. Its AI research team is considered, with Alphabet's DeepMind, one of the most esteemed groups in the tech industry. Yann LeCun, Meta's AI chief, responded to the post with a curt "Yup." Meta could benefit if companies continue to seek multiple AI vendors, much like firms now rely on multiple cloud providers. The more developers access and improve Llama, the more Meta can potentially lower its overall operating and technology research costs, among other benefits.

Persons: Mark Zuckerberg, Sam Altman's, There's, Satya Nadella, Altman, Nadella, Zuckerberg, Meta, Alphabet's DeepMind, MSFT, Yann LeCun, curt, Yup, Sam Altman Organizations: Microsoft, Meta, Technologists, Twitter, CNBC

☆ OpenAI's Sam Altman exits as CEO because 'board no longer has confidence' in his ability to lead
▼ + stars: | 2023-11-17 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +5 min

OpenAI's board of directors said Friday that Sam Altman will step down as CEO and will be replaced on an interim basis by technology chief Mira Murati. "The board no longer has confidence in his ability to continue leading OpenAI," the statement said. The board also said that Greg Brockman, OpenAI's president, "will be stepping down as chairman of the board and will remain in his role at the company, reporting to the CEO." Before taking over as CEO, Altman, 38, was president of startup accelerator Y Combinator and gained prominence in Silicon Valley as an early-stage investor. Microsoft CEO Satya Nadella made a surprise guest appearance during the event, joining Altman on stage to discuss the startup's AI technologies and its partnership with Microsoft.

Persons: Sam Altman, Mira Murati, Ilya Sutskever, Adam D'Angelo, Tasha McCauley, Helen Toner, OpenAI, Greg Brockman, what's, Murati, Mira, ChatGPT, Satya Nadella, Nadella, Elon Musk, Altman, rapt, Ted Lieu, Mike Johnson, Joe Biden, Xi Jinping, Altman didn't, — CNBC's Lora Kolodny Organizations: Tech, Conference, Georgetown Center for Security, Emerging Technology, Microsoft, OpenAI, U.S . Senate, House Democratic Caucus, Economic Cooperation, U.S Locations: Laguna Beach , California, Mira, Silicon Valley, Indonesia, Asia, Pacific, Singapore, India, China, South Korea, Japan, San Francisco

☆ The creator economy is a $250 billion industry and it's here to stay
▼ + stars: | 2023-11-16 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +5 min

The "creator economy" encompasses a large business ecosystem built around social-media stars. Goldman Sachs estimated this year that the creator economy could be a $480 billion industry by 2027. AdvertisementThe "creator economy" emerged with the rise of social-media stars like YouTubers and Instagram influencers, and describes the entire business ecosystem that has grown around them. AdvertisementEarlier this year, Goldman Sachs analysts estimated that the creator economy was a $250 billion industry , and could reach $480 billion by 2027. AI comes to the creator economyThe latest innovation driving the creator economy forward is artificial intelligence.

Persons: Goldman Sachs, —, Instagram, Taylor Lorenz, influencers, There's, Shannae Ingleton Smith, Selena, MrBeast, Forbes, Carmen Sognonvi Organizations: Service, YouTube, Intelligence, Grey Agency, Oxford Economics, Netflix

☆ China's JD.com posts higher Q3 profit as supply snarls ease
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo Acquire Licensing RightsNov 15 (Reuters) - Chinese e-commerce firm JD.com reported quarterly revenue below estimates on Wednesday, but posted a surge in profit as supply chain problems eased. JD.com has fewer popular livestreamers than its competitors, such as Austin Li, who exclusively streams on Alibaba Group's (9988.HK) platform. The company reported net revenue of 247.7 billion yuan ($34.19 billion) for the third quarter, missing analysts' average estimate of 249.26 billion yuan according to LSEG data. But it posted net income attributable to shareholders of 7.94 billion yuan, up 33% from 5.96 billion yuan a year earlier.

Persons: Aly, JD.com, Xu Ran, Austin Li, Alibaba's Tmall, Arsheeya Bajwa, Akash Sriram, Sophie Yu, Varun, Kim Coghill Organizations: CES, REUTERS, JD Retail, HK, Citi, Daiwa, Jefferies, PDD Holdings, Thomson Locations: Asia, Shanghai, China, Bengaluru, Beijing

☆ Meta strikes deal with Tencent to sell VR headset in China - WSJ
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The preliminary deal will make Tencent the exclusive seller of the headset in China and the videogame maker will start its sale in late 2024, the Journal said, citing soucres. It also gives Meta a chance to return to China after 14 years and compete with TikTok-owner Bytedance, which makes the VR headset Pico. Meta sells Quest 2 headset in the United States at a starting price of $300 and Quest Pro headsets at $1,000. For China, Meta is planning to use lenses in the headset that are cheaper than those in the Quest 3, according to Journal report. The headset is priced more than three times Meta's most expensive Quest headset and is aimed at enthusiasts.

Persons: Yves Herman, Bytedance, Tencent, Biden, Shubham Kalia, Yuvraj Malik, Sonia Cheema, Arun Koyyur Organizations: REUTERS, Tencent Holdings, HK, Facebook, Wall Street, TikTok, Pico, Meta, Quest, Twitter, IDC, Thomson Locations: Brussels, Belgium, China, United States, Beijing, Xinjiang, Bengaluru

☆ Meta lets Amazon shoppers buy products on Facebook and Instagram without leaving the apps
▼ + stars: | 2023-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

"For the first time, customers will be able to shop Amazon's Facebook and Instagram ads and check out with Amazon without leaving the social media apps," an Amazon spokesperson said in a statement. Amazon said last month that sales in its online ad business grew 26% from a year earlier in the third quarter to $12.06 billion. By partnering with Amazon, Meta can make it easier to allow shops to sell goods on Facebook and Instagram without creating custom storefronts on those apps. Meta provided some details about the new feature on Tuesday on a support page titled "Purchase with Amazon without leaving Facebook or Instagram." "You can check out with Amazon without leaving Facebook or Instagram, and experience more relevant ads."

Persons: Mark Zuckerberg, that's, Stuart McMullin, Maurice Rahmey, Rahmey, —, Annie Palmer Organizations: Meta, Facebook, Amazon, LinkedIn, CNBC Locations: Menlo Park , California, U.S, Pinterest

☆ I.O.C. Says It Was Target of Elaborate ‘Fake News’ Campaign
▼ + stars: | 2023-11-09 | by ( Tariq Panja | More About Tariq Panja | ) www.nytimes.com time to read: +5 min

The International Olympic Committee issued an unusual statement on Thursday saying it had been targeted by “fake news posts” that it said contained “defamatory content, a fake narrative and false information.” The elaborate campaign included manufactured quotations from I.O.C. The film remains visible on other platforms, however, including the encrypted messaging and content platform Telegram. It was a separate post on Telegram that appears to have prompted the Olympic committee to issue its statement on Thursday. Text accompanying the fake news report said the I.O.C. included links to its website and all of its official social media channels in its statement on Thursday, and requested that news media members contact it to confirm the authenticity of information circulating about the organization on social media.

Persons: Tom Cruise, Israel —, Mark Adams, Thomas Bach, ” Mr, Bach, “ Organizations: Olympic, YouTube, Telegram, Olympic Committee, State Department, Palestinian Locations: Israel, Palestine, Paris, Ukraine, Russia, Gaza, Iran, China, India, Munich

☆ In Regulating A.I., the Government May Be Doing Too Much. And Too Little. - The New York Times
▼ + stars: | 2023-11-07 | by ( Tim Wu | ) www.nytimes.com time to read: +2 min

But if social networking was a wolf in sheep’s clothing, artificial intelligence is more like a wolf clothed as a horseman of the apocalypse. certainly poses problems and challenges that call for government action, the apocalyptic concerns — be they mass unemployment from automation or a superintelligent A.I. If doing too little, too late with social media was a mistake, we now need to be wary of taking premature government action that fails to address concrete harms. The White House is not wrong to want standardized testing of A.I. systems to keep the government apprised of safety tests, and also to have the secretary of labor study the risks of and remedies for A.I.

Persons: Stanley Kubrick’s, —, that’s Organizations: HAL

☆ In a Worldwide War of Words, Russia, China and Iran Back Hamas
▼ + stars: | 2023-11-03 | by ( Steven Lee Myers | Sheera Frenkel | ) www.nytimes.com time to read: +1 min

The conflict between Israel and Hamas is fast becoming a world war online. Iran, Russia and, to a lesser degree, China have used state media and the world’s major social networking platforms to support Hamas and undercut Israel, while denigrating Israel’s principal ally, the United States. Iran’s proxies in Lebanon, Syria and Iraq have also joined the fight online, along with extremist groups, like Al Qaeda and the Islamic State, that were previously at odds with Hamas. “It’s just like everyone is involved,” said Moustafa Ayad, executive director for Africa, the Middle East and Asia at the Institute for Strategic Dialogue. The institute, a nonprofit research organization in London, last week detailed influence campaigns by Iran, Russia and China.

Persons: denigrating, Al, ”, Rafi Mendelsohn, Cyabra, Hossein Amir Abdollahian, “ It’s, Moustafa Ayad Organizations: Hamas, Islamic, Institute for Strategic Locations: Israel, Iran, Russia, China, United States, Lebanon, Syria, Iraq, Al Qaeda, Islamic State, Cyabra, Tel Aviv, “, Gaza, Africa, East, Asia, London

Meta said on Monday that it will introduce an advertisement-free subscription option for Facebook and Instagram for the first time beginning next month for users in Europe, a sign of how government pressure is leading large tech companies to change their core products. The social networking company said it was complying with “evolving European regulations” by introducing the subscription option in the European Union, Iceland, Liechtenstein, Norway and Switzerland. Starting in November, users will be able to choose to continue using Facebook or Instagram for free with ads, or to subscribe to stop seeing ads, Meta said. The cost will range from 9.99 euros a month ($10.58) on the web to 12.99 euros a month ($13.75) on iOS and Android devices, and apply to a user’s linked Facebook and Instagram accounts. Amazon, Apple, Google, TikTok and others are also making changes to comply with new rules in the European Union, which is home to roughly 450 million people across 27 countries.

Persons: Meta Organizations: Facebook, European, Apple, Google, European Union Locations: Europe, European Union, Iceland, Liechtenstein, Norway, Switzerland

☆ Amazon’s advertising revenue tops $12 billion in the third quarter
▼ + stars: | 2023-10-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

(Photo by Joan Cros/NurPhoto via Getty Images)Amazon's online advertising business continues to boom amid growing investor concerns that the Israel-Hamas War could negatively impact the world economy. Analysts polled by StreetAccount were expecting Amazon's advertising business to generate $11.6 billion in third-quarter revenue. Investors closely monitor Amazon's online advertising unit, which now accounts for 7.5% of the global digital ad market, according to Insider Intelligence. Alphabet is still the digital advertiser leader with 28.4% share of the world online ad market, while Meta accounts for 20.1%, the research firm said. Alphabet reported third-quarter earnings this week and said that its Google advertising revenue jumped 9% year-over-year to $59.65 billion while YouTube ad sales rose 12% year-over-year to $7.95 billion.

Persons: Joan Cros, StreetAccount, Meta, Susan Li, Brad Gerstner Organizations: AMD, Amazon Marketing Services, Mobile, Getty, Intelligence, Meta, Facebook, Google, YouTube Locations: BARCELONA, SPAIN, Barcelona, Spain, Israel, Hamas

☆ Social media platform X rolls out audio, video calling
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File photo Acquire Licensing RightsOct 25 (Reuters) - Social media platform X, formerly known as Twitter, is launching an early version of video and audio calling for some users, according to chief technology officer and owner Elon Musk, as the billionaire pushes for X to become an "everything app". Musk described a post on the platform instructing users on enabling the feature as an "Early version of video & audio calling on X". The latest functionality comes amid a series of new features and changes to the platform's core experience under Musk, who acquired the social media company nearly a year ago. After rebranding Twitter as X, Musk signaled he would turn the platform into a super-app, offering a range of services from messaging and social networking to peer-to-peer payments.

Persons: Carlos Barria, Elon Musk, Musk, Yuvraj Malik, Akash Sriram, Pooja Desai Organizations: REUTERS, Twitter, Thomson Locations: San Francisco , California, U.S, Bengaluru

☆ 'This is Israel's 9/11': Why Israelis say Hamas' unprecedented assault will change their country forever
▼ + stars: | 2023-10-09 | by ( Reed Alexander | ) www.businessinsider.com time to read: +12 min

Some are likening Saturday's attack on Israel by Hamas to the September 11, 2001, attacks on the US. The timing of the attack on Saturday morning "was a shock," Aisenberg told Insider on Sunday night from her home. Up and down the country, Israelis were angered by the lapses that enabled Hamas to evade the eyes of Jerusalem's military and intelligence services, Quinn added, calling the failures "incomprehensible." AdvertisementAdvertisementThere, close to the Gaza border, Aisenberg's mother- and father-in-law spent much of Saturday afternoon hiding in their home as Hamas fighters infiltrated their small town and wreaked havoc. 'We cannot afford to be divided'As the fighting continues, Aisenberg said Israelis are determined to prevail against Hamas and Hezbollah.

Persons: —, Aisenberg, they'd, — Aisenberg, I'm, Ian Bremmer, Jessica Cohen, Benjamin Netanyahu, Israel, Iron, Netanyahu, Kenneth Quinn, who's, Quinn, Be'er Sheva, he'd, Quinn's, Cohen, Gilad Peretz, Mark, she'll Organizations: Service, Eurasia Group, Israel, West Bank, Street, Islamic Revolutionary Guard Corps, Palestinian Health Ministry, Soroka Hospital, Audi Locations: Israel, Tel Aviv, Israel's, United States, Gaza, Sderot, Pearl, Hawaii, Long Island , New York, Al, Aqsa, Jerusalem, Saudi Arabia, Riyadh, Iran, Afghanistan — Israel, New York, Be'er, Nova, revel, Lebanon

☆ US ad revenue at Musk's X declined each month since takeover -data
▼ + stars: | 2023-10-04 | by ( Sheila Dang | ) www.reuters.com time to read: +2 min

'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. U.S. ad revenue dropped by 78% in December 2022 compared with the same month the previous year, the steepest monthly decline since the acquisition, according to ad analytics firm Guideline, which tracks advertising spending data from major ad agencies. Ad revenue in August, the latest data available from Guideline, declined 60% year-over-year. X declined to comment on the data. Last month, he accused the Anti-Defamation League of being the primary cause behind a 60% decline in U.S. ad revenue, though he did not provide a time frame.

Persons: Carlos Barria, Elon Musk, Linda Yaccarino, Yaccarino, Sheila Dang, Yuvraj Malik, Matthew Lewis Organizations: REUTERS, Twitter, Reuters, Reuters Graphics, Defamation League, ADL, Thomson Locations: San Francisco , California, U.S, China, Austin , Texas, Bengaluru

☆ Omada wants to become a healthy alternative to sports betting sites. It just raised $7.5 million with this 9-slide pitch deck.
▼ + stars: | 2023-09-27 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

Social gaming startup Omada has just secured $7.5 million in seed funding from Felix Capital. The French startup, which launched less than two years ago, bills itself as a healthy alternative to traditional sports betting apps. "It's not just a game, it's a social game," said cofounder and CEO Adrien Miniatti. Beyond its core game-prediction and social features, Omada has also worked on a range of campaigns to raise awareness about betting addictions. With the fresh funding, Omada will ramp up its product team, and focus on its expansion in the US.

Persons: Felix Capital, It's, Adrien Miniatti, Zs —, Omada, Miniatti, Julien Codorniou Organizations: Felix, influencers, French football club Red Star FC, Omada, Play Ventures, Motier Ventures, Felix Capital Locations: London

☆ Meta's Threads struggles to grow amid rivalry with Elon Musk's X, ranking ahead of only Tumblr
▼ + stars: | 2023-09-26 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

Meta's Threads real-time messaging app is struggling to attract new users like it did during its blockbuster July debut. Insider Intelligence said it expects Threads to have 23.7 million U.S. users in 2023, far behind Facebook, Instagram and TikTok, which have 177.9 million, 135.2 million and 102.3 million users, respectively. When Threads debuted, it rapidly gained millions of users due in part to its easy sign-up process for existing Instagram users. "Threads received an initial boost from Twitter's missteps, but it can't rely on X defectors to continue to grow," Insider Intelligence principal analyst Jasmine Enberg said in a statement. "Assuming Musk doesn't backtrack, the move will likely alienate more X users and potentially increase advertiser interest in Threads," Enberg added.

Persons: Meta, Elon Musk, Jasmine Enberg, Musk, Benjamin Netanyahu, Enberg, Mark Zuckerberg, TikTok Organizations: Intelligence, Facebook, Insider Intelligence, Tesla, Israeli, CNBC

☆ Bedford High School: Petition demands expulsion for students accused of sharing and 'grading' photos of female classmates
▼ + stars: | 2023-09-25 | by ( Amy Simonson | ) edition.cnn.com time to read: +4 min

CNN —Some 9th and 10th grade Bedford High School students, in Bedford, New Hampshire, mostly boys, took pictures of 11th and 12th-grade girls’ buttocks and breasts without their consent, “grading them and sharing those with others,” according to letters sent to parents Thursday and Friday by High School Principal Robert Jozokos. A Change.org petition, created Thursday by a 12th grade female who attends Bedford High School, said the students “deserve to be expelled” and not suspended. When asked what consequences the students face, Bedford School District Superintendent Michael Fournier said in an email to CNN, “Once the investigation is complete, the high school administration determines next steps. “The Bedford School District stands with all victims of harassment of any kind. We have engaged with community resources to assist both students and families as they need,” Fournier said in a District letter sent to parents Friday.

Persons: Robert Jozokos, ”, Bedford, Michael Fournier, “, Jozokos, ” Fournier Organizations: CNN, Bedford High School, High School, Bedford School District, School, Bedford School Locations: Bedford , New Hampshire, Bedford, ”, Portsmouth

☆ How Instagram's expansion of 'Close Friends' to feed posts could signal a new strategy to boost growth
▼ + stars: | 2023-09-06 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +3 min

Instagram is testing a "Close Friends" feature for the feed, the company confirmed. The Meta-owned platform is starting to test a feature that will allow users to post content in their feed to a "Close Friends" audience — similar to the Close Friends feature the app rolled out for stories. "We're testing the ability for people in select countries to share feed posts with their Close Friends," a Meta spokesperson told Insider in an email. Coming to Instagram 🔥 Close Friends feed post. Instagram's push to expand "Close Friends" could signal a bigger change in how the company is thinking about what users want.

Persons: Instagram, Alessandro Paluzzi, Lia Haberman, —, haring Organizations: UCLA

Those who pay for Facebook and Instagram subscriptions would not see ads in the apps, said the people, who spoke on the condition of anonymity because the plans are confidential. That may help Meta fend off privacy concerns and other scrutiny from E.U. regulators by giving users an alternative to the company’s ad-based services, which rely on analyzing people’s data, the people said. Meta would also continue to offer free versions of Facebook and Instagram with ads in the European Union, the people said. It is unclear how much the paid versions of the apps would cost or when the company might roll them out.

Persons: Meta Organizations: Facebook, European Union Locations: United States, Europe

☆ Elon Musk's X to roll out audio, video calling feature
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

A screen capture of Twitter's official page with an "X" on the profile image is seen on July 23, 2023 in this screengrab obtained from a social media website. via REUTERS/File Photo/File Photo/File Photo Acquire Licensing RightsAug 31 (Reuters) - Social media platform X, formerly Twitter, plans to launch video and audio calls as owner Elon Musk races to build an "everything app" to stay ahead of competition from Meta Platforms-owned (META.O) Threads. After rebranding Twitter as X, Musk signaled he would turn the platform into a super app offering a range of services from messaging and social networking to peer-to-peer payments. The vision brings to mind Tencent's (0700.HK) WeChat app - a ubiquitous part of daily life in China. Reporting by Jaspreet Singh in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon, Musk, Tencent's, Jaspreet Singh, Devika Organizations: REUTERS, Meta, Twitter, HK, Thomson Locations: China, Bengaluru

☆ A California homeowner fixed up her converted garage and rents it on Airbnb. It now pays for her mortgage.
▼ + stars: | 2023-08-31 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

Selma Hepp renovated a converted garage in her Burbank backyard and now rents it on Airbnb. The state has passed a series of laws allowing for, and in some cases helping pay for, ADU construction. Courtesy of Selma HeppEighteen months into the process, Hepp finally had drawings from a different architect. During the course of construction, Hepp started dating someone new, and they ended up buying a home in Mid City, a neighborhood in Central Los Angeles. She also managed to refinance her mortgage a few times over the past several years and pays $2,700 a month, which is now covered by her ADU's rental income.

Persons: Selma Hepp, Hepp's, Hepp, It's Organizations: Service, Terner Center, Housing Innovation, University of California, Construction, Hollywood, Universal, Burbank Studios, Warner Bros . Locations: Burbank, Wall, Silicon, Burbank , California, Croatia, California, Berkeley, Los Angeles, Mid City, Central Los Angeles

☆ Major brands are mostly ignoring Elon Musk's new X logo: 'How many people really know what "Follow us on X" means?'
▼ + stars: | 2023-08-21 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

Twitter became X last month, but major brands have been slow to adopt the new logo. It's been almost a month since Twitter rebranded to X, but most major brands haven't scrubbed the blue bird logo from their marketing yet. Other giant corporations like General Motors, American Express, Amazon, Comcast, and L'Oreal have continued to carry the old Twitter logo on their websites. X released a new brand toolkit with logo templates and other marketing assets for marketers to use earlier this month. Musk changed the company name of Twitter to X Corp. earlier this year and replaced Twitter's branding on July 24 .

Persons: Twitter, It's, Procter, Gamble —, Matt Boffey, Boffey, Marissa Mulvihill, Musk Organizations: Twitter, General Motors, American Express, Comcast, L'Oreal, IBM, X Corp, PayPal, Brand Finance, Design, Partners Locations: Amazon

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