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| Welcome to today's Inside Tech! Here are the top headlines: - Instacart files to go public.
- iPhone 14 Pro Max tops H1 smartphone shipments.
- Judge tosses RNC lawsuit against Google.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | Instacart, the grocery delivery service provider, has filed papers for an initial public offering. Like chip designer Arm and marketing automation firm Klaviyo, Instacart is expected to list its shares in September amid a potential revitalization of the U.S. IPO market. More: - Instacart filed for its public offering on Friday, setting the groundwork for the first major venture-backed tech IPO since December 2021.
- The stock will trade on the Nasdaq as "CART."
- According to the filing, Instacart has now been profitable for five consecutive quarters.
- PepsiCo has committed to acquiring $175M worth of the company's stock through a private placement.
- Instacart was valued at $39B in its previous private round in early 2021. Yet, it has since regularly adjusted its share price, with the latest valuation set at $13B.
Q: Do you think the upcoming listings of Instacart, Arm, and Klaviyo could spark an IPO market resurgence? Join the conversation here. |     | |
| 2 | In the first half of this year, the iPhone 14 Pro Max led global smartphone shipments, highlighting a preference for premium models over mid-range choices, according to Omdia's latest Smartphone Model Market Tracker. 
By the numbers: The iPhone 14 Pro Max, the most expensive at $1,099 to $1,599, outperformed others in the 14 series released last September, with Apple shipping 26.5 million units. The iPhone 14 Pro, priced at $999 to $1,499, closely followed in second place, while the iPhone 14 secured the third spot. Notably, shipments of the standard iPhone 14 fell by 17.2 million units compared to the iPhone 13 during the same time last year. What it means: The worldwide smartphone industry is contracting due to reduced demand for mid- to low-range phones, influenced by economic difficulties and an expansion of the secondhand smartphone market. However, Apple's premium models like the Pro Max are gaining in popularity, especially in emerging markets. Omdia forecasts that the mid- to low-end decline will continue, but the premium market may grow with the iPhone 15 series. While total iPhone shipments could remain steady or slightly drop, Pro and Pro Max models are expected to rise due to strong demand for premium features. Q: Do you plan on buying a premium smartphone such as the iPhone 15 Pro Max this year? Join the conversation here. | | | |
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| 3 | | A California federal judge has thrown out the Republican National Committee's (RNC) lawsuit against Google, which alleged discrimination in Gmail's spam filtering of GOP fundraising emails. The RNC filed the suit last fall, claiming that Google purposefully diverted millions of the RNC's emails to spam folders, causing the committee to lose donations. More: - In its argument, the RNC referenced a controversial study allegedly showing Gmail's higher tendency to flag Republican emails as spam compared to Yahoo and other platforms.
- Google refuted any political bias, asserting that Gmail's filtering is guided by "user feedback" and applies uniformly to emails, regardless of political affiliation.
- U.S. District Judge Daniel Calabretta in Sacramento ruled that the RNC failed to show that Google was acting in bad faith.
- While Judge Calabretta considered it a "close case," he dismissed the RNC's claims, also citing that Google is protected under Section 230 of U.S. law.
- The RNC is allowed to amend and re-file the complaint.
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| 4 | Apple is reportedly planning a major update for the iPad Pro, likely to be released next year, according to Bloomberg's Mark Gurman. The iPad, which generates the least revenue among Apple's major products, is expected to see its first major overhaul since 2018. More: - The refreshed model could feature OLED displays and a redesigned Magic Keyboard.
- The OLED displays, such as those used in current iPhones, are expected to provide brighter, crisper visuals with more vibrant colors and deeper blacks.
- The new models, with 11-inch and 13-inch size options, will likely be powered by Apple's next-generation M3 chip.
- In addition to the hardware updates, the tablets will come with an upgraded Magic Keyboard with a larger trackpad, giving the tablet a more laptop-like experience.
- The new iPad Pro is expected to launch in spring or early summer 2024, with minor updates planned for other iPad models before that, according to Gurman.
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| 5 | | Former Goldman Sachs trader Jan Sramek is leading a company that's acquiring vast acres of land for a potential urban utopia near San Francisco and Silicon Valley, according to The New York Times and Bloomberg. The mysterious "mega-city" project has gained backing from major tech investors including billionaire VC Michael Moritz, LinkedIn's Reid Hoffman, Andreessen Horowitz's Marc Andreessen and Chris Dixon, ex-GitHub CEO Nat Friedman, and Emerson Collective's Laurene Powell Jobs. More: - Flannery Associates has been revealed as the buyer of 52,000 acres of mostly farmland in northern California's Solano County, committing over $800M.
- The proposed site near San Francisco Bay seeks to transform the acres into a lively urban hub, designed for walkability and job creation.
- Flannery Associates recently started surveying Solano County residents to gauge interest in a "new city" with tens of thousands of new homes, a solar farm, orchards, and expansive parks and open space.
- However, the land is primarily zoned for agriculture, not residential, requiring Flannery Associates to navigate a challenging rezoning process.
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| 6 | | Amazon Prime Video announced the upcoming rollout of new AI-powered features for its Thursday Night Football (TNF) streaming service this NFL season. In 2021, Amazon secured exclusive rights to TNF as part of the NFL's broadcasting agreements from 2023 to 2033. The new AI features will be available starting Sept. 14. Features: - Defensive Alerts predicts defender blitzes using an in-house machine learning model, highlighting players of interest with red orbs on the screen. The model was trained on 35,000 plays.
- Prime Targets, previously known as Open Receiver, employs a green orb to identify open receivers for QB passes.
- Fourth Down Territory, an analytics tool, shows when a team should go for it on fourth down and the probability of success.
- Field Goal Target Zones display multiple lines showing the success probability for field goals at different positions.
- Key Plays, powered by AI and machine learning, deliver in-game highlights and critical moments.
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Term of the Day Core Consumer Price Index (CPI): Core CPI measures the change in price of all items — less food and energy — for urban consumers. 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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