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The future of ESPN's sports-betting app is now in question amid mounting losses and an activist investor push at partner Penn Entertainment that has prompted sale rumors. The app, ESPN Bet, made early strides in the first few months, gaining ground through promotions and marketing that leveraged ESPN's popular personalities. As of March, ESPN Bet had captured about 4% of the online-sports-betting market by gross gaming revenue, per Bank of America's analysis, though its share has been higher in states like Pennsylvania. "Testers liked ESPN Bet's UX and minty aesthetic but felt the app lacked depth (particularly more extensive features)," EKG wrote in May. "Product is one thing, and I would say having expertise in how to target users effectively to lower your acquisition costs and your retention costs" is key for the ESPN Bet app to compete, Wasiolek said.
Persons: , FanDuel, Dan Wasiolek, Will Wyatt, Penn's, Jay Snowden's, Boyd, Penn, ESPN Bet's, hasn't, it's, Barry Jonas, Scott Van Pelt, Stephen A . Smith, ESPN Bet, Penn doesn't, Jonas, EKG, Snowden, Wasiolek, they'll Organizations: Service, ESPN, Penn Entertainment, Business, ESPN Bet, Morningstar, Donerail Group, Barstool Sports, Penn, Reuters, Boyd Gaming, Truist Securities, Barstool, ESPN Bet's, NFL, Management Locations: Barstool, Penn, Pennsylvania, Eilers
watch now"Without data security and user privacy protection, AI will become worthless," Zhao said in Mandarin, translated by CNBC. But I believe on-device AI, in its capabilities and empowerment of consumers, will become more and more intimate, more and more understanding." "It will give consumers more support and help them interact with the future AI world," he added. He said a system collecting lots of user data to deliver more personalized features becomes a "stronger" object compared to the individual using the system. The Honor Magic V2, the latest foldable smartphone from the Chinese manufacturer, is on display at the Mobile World Congress 2024 in Barcelona, Spain.
Persons: George Zhao, John Hoffman, Zhao, Apple, OpenAI's Organizations: Shanghai Mobile, Congress, CNBC, Apple, Mobile, Apple Intelligence, Baidu, Google, Nurphoto, Getty Locations: HANGZHOU, China, U.S, Shanghai, Barcelona, Spain
Opening a high-yield savings account can be a game-changerWhile 68% of Americans have a standard savings account, according to Forbes, fewer take advantage of high-yield accounts that offer better returns. Although you can choose to receive a physical titanium Apple Card, it's also automatically built into Apple Wallet on iPhone. 3 To access Savings, Apple Card Owners and Co-Owners must open a Savings account. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.
Persons: it's, Cash, Goldman Sachs Organizations: Economic, Forbes, Apple, Apple Pay, Insider Studios, Apple Card, Savings, Goldman Sachs Bank, Branch, Member FDIC, Daily, Apple Cash Card, Minor Outlying, Merchant, Nike Locations: Salt Lake, American Samoa, Guam, Northern Mariana Islands, United States, U.S
The app, ESPN Bet, made early strides in the first few months, gaining ground through promotions and marketing that leveraged ESPN's popular personalities. Even Fanatics, the industry's other major recent disrupter, hasn't made much of a dent in DraftKings' and FanDuel's dominance. As of March, ESPN Bet had captured about 4% of the online-sports-betting market by gross gaming revenue, per Bank of America's analysis, though its share has been higher in states like Pennsylvania. How ESPN Bet can make a comebackPenn could still be successful if it improves its product and spends less money on acquiring new customers, the analysts said. Jonas said if Boyd acquires Penn, it would be a sizable shift in strategy for their management, team, and board.
Persons: , FanDuel, Dan Wasiolek, Will Wyatt, Penn's, Jay Snowden's, Boyd, Penn, ESPN Bet's, hasn't, it's, Barry Jonas, Scott Van Pelt, Stephen A . Smith, ESPN Bet, Penn doesn't, Jonas, EKG, Snowden, Wasiolek, they'll Organizations: Service, ESPN, Penn Entertainment, Business, ESPN Bet, Morningstar, Donerail Group, Barstool Sports, Penn, Reuters, Boyd Gaming, Truist Securities, Barstool, ESPN Bet's, NFL, Management Locations: Barstool, Penn, Pennsylvania, Eilers
Trump Media stock surges 10% after debate
  + stars: | 2024-06-28 | by ( Matt Egan | ) edition.cnn.com   time to read: +2 min
CNN —Former President Donald Trump’s social media company is getting a boost after President Joe Biden’s shaky debate performance. Shares of Truth Social owner Trump Media & Technology Group (DJT) rose 4% in early trading Friday as investors bet the debate has boosted Trump’s chances of retaking the White House. Trump is the chairman of Trump Media, and he is the leading shareholder. Trump Media doesn’t really trade on the fundamentals of the underlying company, the stock has ebbed and flowed with the news about Donald Trump, including his criminal conviction and Thursday night’s debate performance. Trump Media is valued at more than $6 billion even though the company makes very little revenue and Truth Social is tiny.
Persons: Donald Trump’s, Joe Biden’s, Trump, , Donald Trump, “ DJT, ” Matthew Tuttle, Tuttle, Biden, aren’t Organizations: CNN, Social, Trump Media & Technology, Trump Media, Trump, Tuttle Capital Management
Investors should look for companies in the third quarter that are on solid ground, both in their fundamental business and their stock price, according to Piper Sandler. The firm's yardsticks for quality fundamentals include free cash flow yield and positive earnings revisions. Piper Sandler's macro select model includes some of the big tech companies that have outperformed in recent years, in part due to their combination of solid balance sheets and strong growth. Two other stocks on the list with momentum are Chipotle Mexican Grill and Wingstop , up roughly 37% and 66%, respectively, in 2024. The company said in its first-quarter report that cash was up and debt was down compared with the same period a year ago.
Persons: Piper Sandler, Michael Kantrowitz Organizations: Nvidia, Microsoft, Google, Netflix, AMC Networks, Academy Sports Locations: Mexican
CNBC Daily Open: Amazon enters $2 trillion club
  + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury rose as investors parse comments from Fed officials and await key inflation data due Friday. $2,000,000,000,000Amazon's market capitalization surpassed $2 trillion for the first time on Wednesday, joining the ranks of tech giants like Apple and Microsoft. YouTube dominanceAlphabet's YouTube, the pioneer of user-generated content, continues to dominate media consumption, now accounting for nearly 10% of all TV viewership in the U.S.
Persons: Annie Palmer, Elliott Management, Sanjay Mehrotra, Rich Greenfield, Piper Organizations: CNBC, Dow Jones, Nasdaq, Nvidia, Apple, Microsoft, Southwest Airlines, Delta, Micron, YouTube, Nielsen, Netflix, Media, Disney, Warner Bros Locations: Shein, U.S
CNN —Cambodian strongman leader Hun Sen has thrown his weight behind a new homegrown messaging app, which critics say is a way for the government to monitor and undermine political discussion in the country. One of the world’s longest-serving leaders, Hun Sen has ruled Cambodia with an iron fist for more than three decades. Though his eldest son, Hun Manet, succeeded him as prime minister last year, Hun Sen remains the ruling party’s center of power. Greater online surveillanceInternet freedom in Cambodia has experienced a drastic regression under Hun Sen’s rule, rights groups say. CNN has reached out to Hun Sen’s office for comment.
Persons: Hun Sen, WhatsApp, , Vietnam’s, Hun Manet, Lim Cheavutha, Hun Sen’s, Hun, Mu Sochua, leader’s, China’s, , Sam Rainsy, ” Sam Rainsy Organizations: CNN, Facebook, US State Department, United Nations, Meta, Reuters, Communist Party, CoolApp Locations: Cambodian, Cambodia, Southeast Asia
Before Illia Polosukhin left Google in 2017, he had a brainstorming lunch and then returned to his desk to build what may have been the very first transformer, the neural network architecture that makes generative artificial intelligence possible. Seven of the "Transformer 8" joined Nvidia CEO Jensen Huang at GTC, Nvidia's annual developer conference in San Jose on March 20, 2024. From left to right: Lukasz Kaiser, Noam Shazeer, Aidan Gomez, Jensen Huang, Llion Jones, Jakob Uszkoreit, Ashish Vaswani and Illia Polosukhin. All eight of the authors have now left Google, although Polosukhin was the first to depart. Watch the video to hear the full conversation between CNBC's Katie tarasov and and Illia Polosukhin.
Persons: Polosukhin, Jensen Huang, Illia Polosukhin, Lukasz Kaiser, Noam Shazeer, Aidan Gomez, Llion Jones, Jakob Uszkoreit, Ashish Vaswani, OpenAI, Alexander Skidanov, CNBC's Katie tarasov, Illia Organizations: Nvidia, Google, CNBC Locations: San Jose
The news industry just gained a powerful ally in its effort to take on OpenAI. The Center for Investigative Reporting, the country's oldest nonprofit newsroom, sued OpenAI and lead backer Microsoft in federal court on Thursday for alleged copyright infringement, following similar suits from publications including The New York Times , Chicago Tribune and the New York Daily News. In December, The New York Times filed a suit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI last year, alleging copyright infringement in using their work to train ChatGPT. Reddit also announced in May that it will partner with OpenAI, allowing the company to train its AI models on Reddit content.
Persons: Sam Altman, OpenAI, OpenAI's, chatbot, Defendants, Monika Bauerlein, Bauerlein, Mother Jones, ChatGPT, Microsoft didn't, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult, Reddit Organizations: Softbank Ventures, Center, Investigative, Microsoft, New York Times, Chicago Tribune, New York Daily News, of, The New York Times, Times, Southern, The Chicago Tribune, OpenAI, Time, News Corp, Wall Street, Barron's, New York Post, Apple Locations: Softbank Ventures Asia, Seoul, South Korea, Southern, of New York, U.S
Why some restaurants and bars are banning younger patrons
  + stars: | 2024-06-27 | by ( Harmeet Kaur | ) edition.cnn.com   time to read: +11 min
Barounis says his age policy was rare back then, and some at the time questioned his decision to keep out younger customers. As Barounis sees it, the uproar over the restaurant’s age policy suggests it might have been too extreme. But the conversation around the restaurant’s unconventional age policy raises some interesting questions: To what extent can businesses dictate who their customers are? In fact, Bliss owner Marvin Pate tells CNN his positive dining experiences at adults-only resorts are what inspired his restaurant’s age policy. Marvin Pate, owner of Bliss, says his restaurant's age policy was inspired by his and his wife's experiences at adults-only resorts.
Persons: Johnny B, Barounis, ” Barounis, Bliss, Louis, , Marvin Pate, Tina Pate, ” Pate, it’s, Pate, Trey Lindley, Lindley, Troy Hahn, ” “, he’s, Bliss aren’t, Jason Kaplan, Kaplan, , you’re, ” Kaplan, Eddie Fahmy, Toya Taylor, she’s, Bliss ’ Organizations: CNN, Villanova, Bliss, Lindley, Facebook, JK Consulting, A2Z, Consulting Locations: New York’s, Missouri, Caribbean, St, North Carolina, Columbus , Ohio, New York, Bliss, Long, San Antonio
Deng Yuwen, a prominent Chinese writer who now lives in exile in the suburbs of Philadelphia, has regularly criticized China and its authoritarian leader, Xi Jinping. China’s reaction of late has been severe, with crude and ominously personal attacks online. A covert propaganda network linked to the country’s security services has barraged not just Mr. Deng but also his teenage daughter with sexually suggestive and threatening posts on popular social media platforms, according to researchers at both Clemson University and Meta, which owns Facebook and Instagram. The content, posted by users with fake identities, has appeared in replies to Mr. Deng’s posts on X, the social platform, as well as the accounts of public schools in their community, where the daughter, who is 16, has been falsely portrayed as a drug user, an arsonist and a prostitute. “I tried to delete these posts,” Mr. Deng said of the attacks online, speaking in Mandarin Chinese in an interview, “but I didn’t succeed, because today you try to delete and tomorrow they just switch to new accounts to leave attacking text and language.”
Persons: Deng Yuwen, Xi, Deng, , Mr, Organizations: Clemson University, Meta Locations: Philadelphia, China
In fact, when it comes to side hustles online, there are numerous straightforward options you could dive into immediately. Here are three easy online side hustles to consider. Sites like Respondent and User Interviews help these companies collect feedback by paying people to share their opinions. User Interviews works similarly. Some User Interviews tests pay via PayPal but many pay with gift cards to Amazon, Target, and other retailers, according to Sidehusl.com.
Persons: they've, Sidehusl.com Kathy Kristof, Kristof, You'll, There's Organizations: PayPal, Target Locations: Cambly
A two-part release schedule sidelined Colin and Penelope's story for other character arcsLuke Newton as Colin Bridgerton and Nicola Coughlan as Penelope Featherington on season three, episode two of "Bridgerton." "I'm so disappointed honestly by 'Bridgerton' season three, part two," TikToker @lightfrommars said in one video that's been viewed over 770,000 times. Complaints from 'Bridgerton' fans could affect the show — though it's probably safe for nowDoes this spell doom for the Bridgertons? "Bridgerton" season three also topped Nielsen's streaming chart, with 2.19 billion viewing minutes. AdvertisementSo no matter how mad the "Bridgerton" fans are — and how much some factions may insist they're not watching anymore — I'd put my money on the romantic drama's continuation.
Persons: , Colin Bridgerton, Luke Newton, Penelope Featherington, Nicola Coughlan, Jess Brownell, Chris Van Dusen, Francesca Bridgerton's, Hannah Dodd, Julia Quinn, Phoebe Dynevor, Jean Page, Colin, Liam Daniel, Simon Basset, Daphne Bridgerton, Anthony Bridgerton, Jonathan Bailey, Kate Sharma's, Simone Ashley, Breadcrumbing Penelope, TikToker @lightfrommars, , John Stirling, Victor Alli, Benedict Bridgerton's, Luke Thompson, Lady Tilley Arnold, Hannah New, Anthony, Kate, Violet Bridgerton, Ruth Gemmell, Danbury's, Lord Anderson, Daniel Francis, it's, we've, Penelope, Bridgerton, Brownell, Eloise Bridgerton, Colin doesn't, he's miffed, Colin's, Polin, Kanthony, Tom Verica, TikToker notwildlin, Maia Douglas, Douglas, Coughlan, Francesca, Michaela Stirling, Michael Stirling, Marie Soledad, fatphobia, she's, Masali Baduza, Netflix There's, Michael, Abbie Mills, We're, Van Dusen, Jenna Ortega, they're, — I'd Organizations: Service, Netflix, Business, Instagram
OpenAI and Time magazine on Thursday announced a "multi-year content deal" that will allow OpenAI to access current and archived articles from more than 100 years of Time's history. OpenAI's use of Time's content will feature a citation and link back to the original source, the release said. In December, The New York Times filed a lawsuit against Microsoft and OpenAI, alleging intellectual property violations related to its journalistic content appearing in ChatGPT training data. Martin and Jodi Picoult, sued OpenAI alleging copyright infringement in using their work to train ChatGPT. In July, two authors filed a similar lawsuit against OpenAI, alleging that their books were used to train the company's chatbot without their consent.
Persons: Reddit, OpenAI, Jonathan Franzen, John Grisham, George R.R, Martin, Jodi Picoult Organizations: Microsoft, OpenAI, News Corp, Street, The New York Post, The New York Times, Southern, of Locations: The, U.S, of New York
AI is a 'huge opportunity' for us, says Grindr CEO George Arison
  + stars: | 2024-06-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI is a 'huge opportunity' for us, says Grindr CEO George ArisonGrindr CEO George Arison joins 'Money Movers' to discuss their user base, their growth prospect, the pushback they have been facing, and more.
Persons: George Arison Grindr, George Arison
As many as 4 in 10 companies say they've posted a "fake job listing" this year, and 3 in 10 companies say they're currently advertising for a role that isn't real. It's also worth noting that while this proportion of companies say they've posted a fake job, that doesn't mean the same share of their listings are fake. Still, a majority, 7 in 10, hiring managers say the practice of posting fake job listings is "morally acceptable." Finally, hiring managers say they keep fake listings up in order to collect resumes to keep on file for later. Cold applying to job listings may be 'a last resort'Knowing how many job listings might not be real doesn't exactly inspire confidence in online job boards.
Persons: they've, It's, Stacie Haller, who's, Haller, ZipRecruiter, that's, it's, there's Organizations: CNBC, LinkedIn
As design firm Figma rolls out its first major AI upgrade for its platform, CEO and co-founder Dylan Field is taking no chances with customers amid steep AI adoption and demand curves and consumer hype. Figma is paying the cost of the AI upgrade for now instead of attempting to charge customers. "We're gonna eat the cost for 2024, because we don't know how people are going to use the features yet. Figma's UI3 redesign, released in limited beta on June 26 with a waitlist for additional users, includes a new toolbox called "Figma AI." 6 on this year's CNBC Disruptor 50 list, while Figma ranked No.
Persons: Dylan Field, CNBC's Deirdre Bosa, Canva, Figma, we're Organizations: Figma, Adobe, CNBC, Google
The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.
Persons: , We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City
Robots keep getting creepier
  + stars: | 2024-06-26 | by ( Jaures Yip | ) www.businessinsider.com   time to read: +3 min
Read previewIt's not just nuts and bolts keeping robots together — now they can be made with living skin. The team said it was able to mimic human skin ligaments by bonding skin tissue to perforated 3D facial models and 2D robots. The team hopes the advancement will be useful "in the cosmetics industry and to help train plastic surgeons," according to a press release. While the development could prove helpful, some people online reacted to the robot's fleshy skin and facial movements with jokes or said they found it disturbing. Scientists reveal a smiling 2D facial robot covered with lab-grown living skin.
Persons: , Shoji Takeuchi, Takeuchi, Elon Musk Organizations: Service, University of Tokyo, Business, Optimus Locations: Tesla
But, not all AI startups are created equal. AdvertisementBusiness Insider surveyed nine VCs who invest in AI startups at firms like Bain Capital Ventures, Flybridge, and Sapphire Ventures. Startups building AI's "picks and shovels" are a better bet than yet another LLMStep aside, OpenAI and Anthropic. In contrast, unstructured data encompasses various formats such as text documents, images, audio files, emails, social media posts, and videos. Some AI investors say they're shying away from point solutions—think online payment processing or project management—in favor of full-stack solutions.
Persons: , Harvey, Navin Chaddha, Chip Hazard, they're, Kahini Shah, there's, Rak Garg, Garg, Shah, Lauri Moore, Moore, Chaddha, Capital's Moore, she's Organizations: Service, Accel, Business, Bain Capital Ventures, Flybridge, Sapphire Ventures, Google, Meta, Mayfield Fund, Flybridge Capital Partners, Obvious, Investors, Obvious Ventures, Foundation, Dig Ventures Locations: Mayfield, Hazard, Flybridge
Amazon's Prime Video engagement is at 80%, boosting its standing against Netflix. Evercore ISI data suggests Prime Video's user satisfaction and viewership are on the rise. AdvertisementAmazon has been trying to break into TV for close to three decades, starting with the launch of Prime Video in 2006 and Amazon Studios, now Amazon MGM Studios, in 2010. A new Evercore ISI survey of 1,100 Amazon users showed that the share of users who watch Prime Video is a "consistently high" 80%. This year, 50% of Prime Video watchers surveyed said they're watching more than before, an uptick from 38% in 2023.
Persons: Organizations: Netflix, Amazon, Service, Amazon Studios, Amazon MGM Studios, ISI, Business
Learn moreA little over a week after the NBA Finals concluded, the NBA Draft is here in preparation for next season. Below, we've compiled everything you need to know about where to watch the NBA Draft, including US and UK options. Keep reading to learn how to tune in live to the NBA Draft, whether you have cable or want to live stream the event. Where to watch the NBA Draft in the USThe NBA Draft is spread across two days: Wednesday and Thursday. How to watch the NBA Draft from anywhereIf you are traveling away from home during the NBA Draft, you can keep up with your subscriptions using a VPN.
Persons: Donovan Clingan, Purdue Center Zach Edey, Zaccharie Risacher, Alex Sarr, LeBron James, Bronny James, There's, ExpressVPN Organizations: Business, NBA, US, Barclays Center, Atlanta Hawks, UConn, Purdue Center, Los Angeles Lakers, ABC, ESPN, MLB, NHL, NFL, UFC, Hulu, Disney Plus, Sling, ESPN2, ESPN3, Sky Sports Locations: Brooklyn, Manhattan
But media companies such as Netflix, Disney and Warner Bros. Those competing truths have led media and entertainment companies to concoct a wide array of strategies to combat the growing threat. John Lamparski | Getty ImagesEarlier this year, YouTube Chief Executive Officer Neal Mohan announced that users watch more than 1 billion hours of YouTube content on TV screens each day. Disney has made bespoke YouTube content for its new preschool series "Disney Junior's Ariel," which debuts June 27, to introduce the mermaid character to kids. That's YouTube 2.0."
Persons: Rich Greenfield, it's, Tara Walpert Levy, Nielsen, John Lamparski, Neal Mohan, Michael Nathanson, Kevin Mayer, Disney, Brittany Broski, LightShed's Greenfield, isn't, John Keeble, Mayer, That's, Ariel, Winnie, " Mayer, NBCUniversal, NBCUniversal's, Nathanson, MrBeast, Jimmy Donaldson, Monica Schipper, we've, Broski, David Livingston, incentivizes, Michelle Khare, Gilbert Flores Organizations: Alphabet's YouTube, Hollywood, YouTube, it's, Netflix, Disney, Warner Bros, Getty, Google, Comcast, Media, ExCel, Entertainment, Bloomberg, Amazon, Nickelodeon, HBO, Penske Media Locations: U.S, , York, Hollywood, London, That's, Los Angeles, Brittany, Anaheim , California, AdSense
Shares of Trump Media & Technology Group closed up nearly 8% on Wednesday, adding to the stock's post-sell-off rally. Trump Media, which trades under the ticker "DJT," plummeted nearly 50% in the three weeks following the felony conviction of former President Donald Trump, Trump Media's majority shareholder. Shares of Trump Media closed at $26.75 last Thursday, its lowest level since April, but began rebounding on Friday. Trump Media, the parent company of social media platform Truth Social, started publicly trading on March 26 after merging with a special purpose acquisition company. The former president owns a nearly 65% stake in Trump Media, but he cannot sell any of his 114,750,000 shares until a postmerger lock-up period ends in late September.
Persons: Donald Trump, — Trump Organizations: Trump Media & Technology Group, Trump Media, Trump, U.S . Securities, Exchange Commission, Social Locations: Thursday's
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