| Welcome to Inside Tech! Here are today's top stories: - Apple slashes its Vision Pro production volume by more than 50%.
- Reliance Jio announces a $12 phone with a 4G internet connection.
- Elon Musk blames AI companies' data scraping for the tweet view limit rule on Twitter.
Arbër
p/Arber | |
| 1 | | Apple has reportedly asked its supplier, Luxshare, to reduce the production of Vision Pro devices by more than 50%. The company is expected to produce around 400,000 Vision Pro devices, down from its plan of producing 1 million devices. More: - The mixed reality device was initially planned to be launched on June 5, 2023, before being pushed to 2024.
- Industry experts claim that this deadline setback has to do with Apple's issues with scaling production, something that companies globally have been dealing with since 2020. More specifically, manufacturers are having issues with the Vision Pro's OLED displays, which require new technology.
- The device was promoted by Apple as a "spatial computing" device and was met with widespread publicity from tech enthusiasts and journalists.
- China-based Luxshare is Apple's only publically known assembler for the Vision Pro.
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| 2 | | The news: Mukesh Ambani's Reliance Jio has announced the launch of a $12 phone with 4G internet capabilities. Why it matters: The device could help the company reach 250 million new customers, giving them access to the internet. What's next: The company will release 1 million devices as a trial period, starting on July 7, 2023. What the numbers say: Reliance Jio's revenue has consistently grown in the last few years. In 2019, the company had $5.9B in revenue, while in 2022, it had $13B. If this initiative proves successful, it could boost its status as a market leader in India. 
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| 3 | | Elon Musk has cited AI companies scraping Twitter data as the reason behind the company's new tweet limitation rules. Unverified users can now view a maximum of 600 posts per day, while verified users can view 6,000 posts. More: - Twitter made the changes in order to prevent AI companies from ruining user experience through their "extreme levels of data scraping," as Musk called it.
- Twitter's vast amount of data was being used by AI companies to train their dataset, something from which the platform was not profiting.
- Musk stated that these rules would soon change, allowing new unverified accounts to view 400 tweets per day.
- Older unverified accounts will be able to interact with 800 tweets per day, while verified accounts will have access to 8,000 tweets per day.
- This recent decision is only one of the many changes that Twitter has rolled out since being acquired by the Tesla co-founder back in 2022.
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| 4 | | The Swedish Authority for Privacy Protection has fined two companies for violating privacy. Telecommunications company Telco2 was hit with the largest fine, $1.1M. More: - The regulator's decision was made after auditing the companies, where it was concluded that the security measures taken to prevent European users' privacy of data during the time they were being processed in the U.S. were not adequate.
- Furthermore, it was possible to link the personal data with other data being transferred, and there were irregularities found in the use of IP addresses, GDPR, etc.
- Violations from numerous other companies were found, but the data authority did not issue any fines besides Telco2 and CDON.
- The regulator stated that companies should avoid using Google Analytics due to the higher probability of breaking EU privacy rules, a sentiment that numerous privacy watchdogs throughout Europe have shared over the last three years.
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| 5 | | The UAE has granted its first-ever Level 4 Self-Driving test license to transportation startup WeRide. The company will test multiple autonomous vehicles on populated streets. More: - The license, the first of its kind in the history of the United Arab Emirates, was granted by the Kingdom's Cabinet.
- WeRide is a startup founded in 2017 in Silicon Valley. The company has autonomous driving test permits in both the US and China and aims to build and scale vehicles that have Level 4 self-driving capabilities.
- Level 4 vehicles are defined as vehicles that are able to drive without human intervention in certain environments.
- The company has partnerships with Renault-Nissan-Mitsubishi Alliance, Yutong Group, Bosch, and others, which have helped boost its valuation to $4.4B as of 2022.
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| 6 | | The European Union and Japan have announced that they are looking to form a partnership around Artificial Intelligence. The partnership is part of the EU's plan to decrease its dependence on Chinese technology. More: - EU Commissioner Thierry Breton stated that the initiative would include the formation of an EU-Japan Digital Partnership council.
- This council will handle projects in high-priority fields such as Artificial Intelligence, Cybersecurity, and Semiconductors.
- The recent supply chain crisis made governments in Europe rethink their strategy on key technology products such as semiconductors, which are used to train AI models and power the smart devices of the future.
- EU countries have previously stated that they intend to de-risk their economies from China, a concept that is different from the U.S.' stated intent of decoupling from Chinese technology products.
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- China has restricted the export of gallium and germanium starting from Aug. 1. Both metals are considered invaluable for producing chips.
- European Union regulators may investigate the acquisition deal between Adobe and Figma.
- Twitter has been hit with a $665,000 lawsuit from an Australian project management company over alleged unpaid bills.
- NYC-based startup Nuvocargo has raised a $36.5M Series B funding round led by Tresalia Capital.
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INSIDE TECH LEADERBOARD (7 DAYS) |
 | Writer | | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. | | This newsletter was edited by Aaron Crutchfield | |
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