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| Welcome to today's Tech newsletter! Here are the top stories: - Microsoft's Activision Blizzard deal gains preliminary approval in U.K.
- Amazon will roll out ads in Prime Video.
- Study finds 95% of NFTs now 'worthless.'
If you find this newsletter helpful, please share it with your friends and colleagues. Thank you! Beth
p/beth-duckett | |
| 1 | | Britain's antitrust regulator has signaled likely approval for Microsoft's $69B restructured acquisition of Activision Blizzard, potentially clearing the way for one of the largest tech deals in history. Initially blocked in the U.K. over cloud gaming competition concerns, Microsoft has since restructured the deal by transferring cloud gaming rights to Ubisoft. More: - The U.K. regulators' objections are the final hurdle for the companies to close the merger ahead of their recently extended deadline of Oct. 18.
- Under the revised deal, Microsoft agreed to relinquish cloud-streaming rights for most of Activision's games, including the "Call of Duty" franchise, over the next 15 years to rival Ubisoft.
- On Friday, the U.K.'s antitrust regulator stated that the updated proposal "substantially addresses previous concerns" and paves the way for the deal to be cleared.
- The preliminary decision precedes final approval, with the U.K. regulator inviting third-party feedback on Microsoft's proposed remedies until October 6.
Zoom out: - Since announcing the deal in January 2022, Microsoft has gained approvals from antitrust authorities in 40+ countries, including the EU.
- The U.S. Federal Trade Commission (FTC) opposed the deal but lost a legal battle to stop it, paving the way for the merger to proceed. The FTC's appeal is ongoing.
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| 2 | Amazon said it plans to bring ads to Prime Video in 2024 to boost revenue and continue investing in new TV and movie content. The company is expected to bump up its spending on TV shows, movies, and music to $20B this year, an over 20% jump compared to 2022. 
Details: The new ads on Prime Video will start appearing in the U.S., U.K., Germany, and Canada in early 2024, followed by France, Italy, Spain, Mexico, and Australia later next year. In the U.S., Prime members will see the ads unless they pay an extra $3 per month on top of their existing $15 per month Prime subscription. Non-Prime members will presumably pay $12 per month for Prime Video, up from the current $9. Pricing for other countries will be shared later. Zoom out: Amazon vowed to serve "meaningfully fewer ads" compared to traditional TV and other streaming providers, with Variety estimating the "limited advertisements" at around four minutes per hour. As Amazon embraces the new advertising, it leaves Apple's streaming service as the only major streamer without an ad-supported tier. Q: For Prime members and streamers, do you plan to pay the extra $3 per month to avoid ads? Join the conversation here. | | | |
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| 3 | | The iPhone 15 lineup officially goes on sale in stores today. Apple CEO Tim Cook celebrated today's release of the smartphones at the company's flagship Fifth Avenue store in New York. More: - News media reported long lines forming at some Apple stores across the U.S., Europe, and China.
- Meanwhile, the first pre-orders have started arriving to customers.
- Analysts have noted stronger-than-expected iPhone 15 pre-orders, especially for the premium Pro lineup, notably the Pro Max.
- Delivery times for some Pro models are now extending into late October to mid-November.
Features: - As expected, the iPhone 15 models now have USB-C ports and cables for charging and data transfer, replacing the 11-year-old Lightning port.
- The iPhone 15 and 15 Plus have 6.1- and 6.7-inch displays, respectively. Both use the A16 Bionic chip.
- Meanwhile, the 15 Pro has a 6.1-inch screen, and the Pro Max has a 6.7-inch display. Both are made of titanium and powered by the new A17 Pro chip.
- The iPhone 15 starts at $799 for 128GB, and the iPhone 15 Plus begins at $899 for the same storage capacity. The 15 Pro starts at $999 with 128GB of storage, and the Pro Max at $1,199 with 256GB.
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| 4 | | A new study finds that 95% of 73,000+ NFT collections are now considered worthless with a market cap of 0 Ether (ETH). DappGambl's analysis revealed that 79% of NFT collections are unsold, leading to a buyer's market with a surplus of supply over demand. More: - In its analysis, DappGambl identified and examined 73,257 NFT collections.
- Among them, 69,795 had a market cap of 0 Ether (ETH), signifying that 95% of NFT collection holders currently possess worthless investments.
- It estimates that 95% to cover at least 23 million people.
- Of the collections examined, 21% had full 100%+ ownership, leaving around 79% or nearly 4 out of 5 NFT collections unsold.
Zoom out: - NFT hype reached its peak during the 2021/22 bull run, with nearly $2.8B in monthly trading volume in August 2021.
- However, in July 2023, the NFT market saw about $80M in weekly trading volume, only 3% of its 2021 peak, according to The Block.
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| 5 | | The European Union's executive arm has fined Intel €376.36M ($400M) over alleged anticompetitive practices related to its x86 computer chips. The European Commission accused Intel of abusing its dominant position in the microprocessor market by using rebates and sales restrictions to exclude rivals. Background: - The new fine comes after an EU court reversed the European Commission's $1.2B penalty against Intel last year.
- Intel had been accused of employing illegal sales tactics to undermine its smaller rival, AMD.
- However, the EU court did agree with the European Commission that Intel illegally excluded rivals from the market, prompting the commission to reopen the case this year.
New fine: - On Friday, the commission announced it had re-imposed a $400M fine for Intel's practices between November 2002 and December 2006, when Intel paid HP, Acer, and Lenovo to delay or halt rival products.
- Intel said it's currently evaluating its options. The company is awaiting the commission's approval for €10B in state subsidies for a chipmaking facility in Germany.
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| 6 | | Nearly 20% of jobs posted on Indeed are "highly exposed" to generative AI (GenAI), meaning they require skills that can largely be replaced by the technology, according to Indeed's newly released AI at Work Report. Software development jobs have the greatest potential for GenAI augmentation, Indeed found, while driving jobs, such as truck and taxi drivers, are least affected. More: - 45.7% of Indeed jobs have a moderate exposure level, where GenAI can perform between 50% and less than 80% of the required skills.
- 34.6% are low/minimally exposed, with GenAI handling less than 50% of the skill requirements.
- Other jobs with minimal exposure include cleaning and sanitation and beauty and wellness roles, which tend to have limited remote work capabilities. Jobs with a higher potential for remote work are more susceptible to GenAI-driven transformations, according to Indeed.
Zoom out: - Svenja Gudell, Indeed's chief economist, emphasized that GenAI is more likely to enhance or streamline specific parts of a job rather than completely replace it, suggesting that employers will likely adapt and reshape roles, even potentially creating new jobs.
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- While Valve plans to develop a Steam Deck 2 with improved performance, it doesn't anticipate releasing a faster version of the handheld gaming device for at least another two years.
- Binance, the largest crypto exchange by trading volume, said it plans to delist stablecoins in the European market as of June 30, 2024.
- Uber plans to introduce an AI assistant to help users find bargains and explore menu selections through a new "Sales Aisle" for promotions.
- With the right process and tools, dev teams can ship gold every week. This guide breaks down a proven approach to product delivery.*
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INSIDE TECH LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is the writer of Inside's AI and Tech newsletters, with a career spanning journalism and editing since 2007. She has written for publications including The Arizona Republic, USA Today, and others, and authored a book on the solar industry in 2016. Reach out to her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
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