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Welcome to the Inside Tech newsletter! Here are our top stories: - Apple "Watch X" upgrade could feature microLED display, blood pressure monitor.
- Global tablet shipments fell by 29.9% YoY in 2Q23.
- PayPal names Intuit executive as new CEO.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | Apple is developing an updated "Apple Watch X" featuring a microLED screen and blood pressure monitoring, according to Bloomberg's Mark Gurman. The release of the watch is expected in late 2024 or 2025, coinciding with the Apple Watch's 10th anniversary. More: - The Apple Watch X is expected to be the biggest overhaul of Apple's watches yet, introducing a thinner case and potentially a new magnetic band attachment system.
- The Apple Watch's band connection has remained unchanged since the device was introduced in 2015.
- The X may also debut with advanced microLED display technology, surpassing current OLED screens in color and clarity.
Zoom out: - Prior to the launch, Apple plans to introduce the Apple Watch Series 9 collection, set to debut alongside the iPhone 15 lineup this September.
- The Series 9 watches will undergo a "minor refresh" from last year, offering new color options and faster processors.
- The screen sizes will remain the same as last year.
Do the reported features make you interested in purchasing the Apple Watch X? Share your thoughts here. |     | |
| 2 | In Q2 2023, global tablet shipments plummeted by 29.9% year-over-year to 28.3 million units, per IDC's preliminary data. 
What the numbers say: Apple continued to lead in the tablet market, shipping 10.5 million iPad units, which represented a 16.8% YoY decline. The company's strength lies in its affluent customer base, making it less affected by economic downturns, according to IDC. Samsung ranked second with 5.8 million units shipped, representing an 18.3% decline. Chromebook shipments also contracted last quarter with shipments totaling 5.8 million units, a YoY drop of 1.8%. What it means: Weak demand, low consumer confidence, and excess inventory hindered sales. Emerging markets generally saw better growth due to value-driven affordable products. The tablet market also showed a trend toward extremes in pricing, challenging mid-priced options. According to Jitesh Ubrani, research manager for IDC's Mobility and Consumer Device Trackers, the divide in the tablet market continues to widen, with iPads capturing the high end and brands like Xiaomi and Lenovo expanding in the lower-priced segment. | | | |
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| 3 | | Intuit's Alex Chriss is set to become PayPal's new president and CEO, taking over from Dan Schulman, who announced his retirement earlier this year. Chriss, Intuit's senior VP and CPO of small business, will assume the role on Sept. 27, succeeding Schulman, who has been PayPal's CEO since 2014. More: - Chriss, a longtime fintech executive, will also join PayPal's board.
- He previously led Intuit's successful $12B acquisition of Mailchimp in 2021.
- PayPal's Board diligently searched for the right growth leader and is confident Alex is the right choice, said John Donahoe, PayPal's board chair
- PayPal recently introduced its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), facilitating P2P payments and transfers with external wallets.
Zoom out: - In January, PayPal disclosed plans to cut 7% of its workforce due to economic challenges.
- Based in San Jose, PayPal is recognized for brands like Venmo and Xoom.
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| 4 | | Sam Bankman-Fried, founder and ex-CEO of bankrupt crypto exchange FTX, has been jailed after a judge revoked his bail due to alleged witness tampering. Bankman-Fried was taken into custody on Friday from a New York court hearing and transported to Brooklyn's Metropolitan Detention Center, which is known for its poor conditions. More: - U.S. District Judge Lewis Kaplan said probable cause exists that Bankman-Fried tried to "tamper with witnesses at least twice."
- He declined Bankman-Fried's plea for postponed custody while awaiting an appeal.
- If the appeal fails, Bankman-Fried will remain in jail until his criminal trial begins on Oct. 2.
- Previously, Bankman-Fried had been on home detention at his parent's residence in California.
Zoom out: - According to Reuters, Brooklyn's Metropolitan Detention Center has faced staffing shortages, power failures, maggots in food, and drug smuggling. Public defenders have deemed the conditions "inhumane."
- Bankman-Fried pleaded not guilty to fraud charges after the downfall of his cryptocurrency empire last year.
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| 5 | | Tesla has announced price reductions in mainland China. The price cuts apply to the Model Y long-range and performance versions. More: - The two Chinese Model Y versions, priced at 299,000 and 349,000 yuan, have been discounted by 14,000 yuan, or around $2,000.
- The company also plans to offer insurance subsidies of 8,000 yuan ($1,100) to buyers of entry-level rear-wheel-drive Model 3 versions.
- Tesla has been striving to gain market share in China by aggressively undercutting competitors, including domestic automakers.
- Analysts predict further price cuts in the U.S. and Europe, potentially impacting Tesla's Q3 margins.
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| 6 | Cal Fire and the University of California San Diego have partnered to launch the Alert California AI program. The innovative system detects wildfires in advance using cameras and artificial intelligence. More: - Within a month of its launch, the program identified an early-stage fire in the Cleveland National Forest near San Diego, allowing first responders to control the blaze in less than an hour.
- The AI operates by analyzing feeds from more than 1,000 rotating cameras, flagging anomalies that might indicate fires.
- When an anomaly is detected, emergency services are automatically alerted.
- UCSD engineers collaborated with AI technology from DigitalPath to develop the system, with Cal Fire investing $20M over four years and planning an additional $3.5M in funding
- The program's live camera views are accessible to the public through its website.
Zoom out: - The technology could potentially serve as a blueprint for other wildfire-prone regions grappling with climate change.
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| 7 | | 
Community Corner Last week, we asked our tech community, "How are you feeling about job security in the tech industry?" Here's a highlighted response we received: Michael Carbonel (p/michael-carbon), Owner of Carbo Computers, answered: "Running my IT consulting business is exhilarating. Solving tech challenges, innovating solutions, and constant learning keep me fueled. With the help of ChatGPT, I've found a reliable ally that enhances my problem-solving and brainstorming capabilities. Beyond bytes and codes, it's about transformation and impact. Proud to be on this tech journey with the support of AI innovation!" Join the conversations at Inside.com, and we may shout out your name and business, or contact you for more! ⭐️ | | | |
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- Crypto media company CoinDesk has reduced its editorial workforce by 45%, or 20 people, as it closes in on a deal to sell to investors for $125M.
- Netflix is starting public tests of cloud-streamed games for some subscribers in Canada and the U.K. The "limited beta test" will be available on select TVs, connected TV devices, and Netflix.com.
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Term of the Day Metaverse commerce: Metaverse commerce involves individuals using AR or VR headsets to shop for a product within a platform. Question of the Week Do you share details about your salary with your coworkers? Join the conversation |
INSIDE TECH LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is the curator and writer of the AI and Tech newsletters at Inside. With a career in journalism and editing that began in 2007, she has written for publications including USA Today, The Arizona Republic, Arizona Business Gazette, and more. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by NO ACCOUNT ASSOCIATED WITH THE EDITOR | |
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