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| Welcome to the latest edition of Inside Tech! Here are today's major highlights: - A court has ruled in favor of Grayscale's bid for a Bitcoin ETF.
- Meta removed the largest pro-Chinese influence operation.
- Google will charge businesses for its AI workspace tool.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | The SEC must reconsider Grayscale Investments' proposal for a spot Bitcoin exchange-traded fund after initially denying the request, a federal appeals court has ruled. A spot bitcoin ETF would be traded on a traditional stock exchange, with a brokerage holding the bitcoin, offering investors exposure to the cryptocurrency without owning it. More: - Tuesday's ruling could pave the way for the first spot Bitcoin ETF, which would offer direct exposure to Bitcoin rather than futures contracts.
- Grayscale sued the SEC last year for rejecting its bid to convert its Bitcoin "trust" (GBTC) into a direct Bitcoin-holding ETF.
- On Tuesday, the appeals court ruled that the SEC's rejection of Grayscale's proposal was "arbitrary and capricious."
- According to the judge's panel, the SEC failed to explain why it approved two Bitcoin futures ETFs but not Grayscale's spot Bitcoin ETF.
Zoom out: - The SEC has 45 days to appeal the ruling.
- After Tuesday's decision, the price of Bitcoin rose by 5.75%, reaching over $27,600.
Question: Would you prefer to own Bitcoin directly or through an ETF? Join the conversation here. |     | |
| 2 | | Meta removed thousands of Facebook accounts as part of its efforts to disrupt the world's largest known online covert influence operation. The pro-China campaign had links to Chinese law enforcement and was the "largest known cross-platform covert influence operation globally," according to Meta. More: - Initially identified by Meta in 2019, the network known as "Spamouflage" has grown over the past four years.
- The campaign has attempted to spread positive narratives about China's law enforcement and Xinjiang province, disinformation about the COVID-19 pandemic, and criticism of the U.S. and Western policies.
- It has targeted the U.S., the U.K., Taiwan, and other countries.
- In a report released today, Meta said it removed a total of 7,700 Facebook accounts, 930 Facebook pages, 15 Facebook groups, and 15 Instagram accounts linked to the operation, which has also extended to other platforms like TikTok and X, formerly Twitter.
- It's the seventh influence operation from China that Meta has taken down in six years.
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| 3 | | Apple has sent out invites for its iPhone launch event on Sept. 12. The company is expected to reveal the iPhone 15 series and new Apple Watches during the event, which will be live-streamed on Apple's website. More: - The invitation features a graphic reminiscent of Thanos's "snap" along with the word "Wonderlust."
- In addition to the iPhone 15 series, the company is expected to announce the Apple Watch Series 9, Apple Watch Ultra 2, and iOS 17.
- Following the event, Apple is gearing up to release the iPhone 15 on or around September 22.
- The phone is rumored to boast various enhancements including thinner bezels, a faster processor, an updated camera, and USB-C charging.
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| 4 | | Google plans to charge large businesses $30 per month per user to access its AI virtual assistant and tools in Gmail, Drive, Slides, Docs, and more. The fee is in addition to what companies pay for subscriptions to Google Workspace, the company's suite of cloud-based productivity apps formerly known as G Suite. The service claims 10 million paying organizations, a rise from 9 million in March and 6 million in 2020. 
What happened: Google has rebranded these generative AI tools across its Workspace apps as "Duet AI." Features include an AI tool in Gmail that can draft emails, automatic table generation in Google Sheets, translated captions in Google Meet, and the ability to generate images and presentations in Google Slides. Google said it will first allow free trials of the AI service before charging companies. Why it matters: The biggest competitor to Google Workspace is Microsoft Office 365, which claimed a much higher 345 million paid commercial users in 2022. Microsoft is also set to charge the same $30 per user per month for business accounts to access its AI assistant within Office apps, setting the stage for heightened competition in the AI virtual assistant space for enteprises. | | | |
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| 5 | | Blocking news links in Canada has had little to no effect on Canadian Facebook usage, with daily active users and app spent time remaining steady, according to data shared with Reuters. Meta began blocking Canadian news links in early August due to Canada's Online News Act, which will require tech firms to negotiate with and pay local news publishers to use their content. More: - Data from Similarweb shows no significant difference in Facebook Canada's daily active users and app usage time since then.
- Meta claims that news makes up less than 3% of Facebook content.
- The Online News Act passed in June but is not yet active.
- Canada's regulator said it will create negotiation frameworks between news organizations and internet giants this fall, aiming for mandatory bargaining by early 2025.
- Both Meta and Google argue that the law is unworkable for their businesses. Google has also said it intends to remove local news from Canadian search results and more before the law takes effect.
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| 6 | | DoorDash is testing an AI-driven voice ordering system. The technology facilitates customer interactions for takeout and delivery orders by automatically managing incoming calls at restaurants. More: - DashAI, the AI service, handles voice-based ordering across various languages and offers reordering options for repeat customers.
- The system provides tailored meal recommendations to encourage upselling.
- According to DoorDash, there is still the option for live agents to intervene when needed.
- Initially, the AI tool will undergo a limited trial phase, specifically for certain restaurants, and can be customized to align with their branding.
Zoom out: - Research conducted by DoorDash revealed that nearly half of customer calls to restaurants go unanswered, potentially leading to missed orders and financial losses.
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Term of the Day White-collar crime: A white-collar crime is committed by someone of a higher social or economic status in the course of their occupation, motivated by financial gain. 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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