| Here are today's top tech stories: - Meta will start labeling AI-generated images created with third-party tools.
- DocuSign announces layoffs as talks to sell company stall.
- Spotify reports positive growth and a narrowing net loss.
- Google will settle a lawsuit related to its former Google+ social media site for $350M.
- Adam Neumann is attempting to buy back WeWork.
- Twitter alternative Bluesky opens up to everyone.
Beth
p/beth-duckett | |
| 1 | | Meta announced it will start labeling images created using third-party AI tools such as OpenAI, Midjourney, and Google. The move comes after Meta's own Oversight Board criticized the company's "incoherent" manipulated media policy in a decision regarding an altered video of U.S. President Joe Biden. More: - In a blog post today, Meta Global Affairs President Nick Clegg said Meta is working to identify and label AI-generated images on Facebook, Instagram, and Threads.
- The company already adds a watermark to images generated with its own Imagine AI generator, a policy that will be extended to AI photos created using outside tools.
- Meta is partnering with AI tool developers to establish common technical standards, such as invisible metadata or watermarks in images, to identify AI-generated images made with their tools.
- Clegg still warned that it's "not yet possible to identify all AI-generated content."
Zoom out: - Platforms like Meta are bracing for the first major elections this year since consumer AI tools have made it easier to produce convincing deepfake videos and audio.
- Meta is also requiring advertisers to disclose their use of AI in certain political or social issue ads.
|     | |
| 2 | | DocuSign Inc. announced layoffs affecting 6% of its workforce, or roughly 440 positions. The layoffs are due to a restructuring amid stalled sale talks with private equity firms. More: - The cuts will primarily impact DocuSign's sales and marketing staff.
- The company expects to incur $28M to $32M in severance, benefits, and related costs.
- DocuSign expects to finish the restructuring by fiscal Q2 in 2025.
Zoom out: - DocuSign, which boomed during the pandemic after going public in 2018, is now struggling with competition from Adobe and a falling valuation amid weaker interest in unprofitable software stocks.
- Talks to sell DocuSign to either Bain Capital or Hellman & Friedman recently cooled over price disagreements. The private equity firms were competing to buy the online signature provider.
| | | |
| 3 | | Spotify's users saw a higher-than-expected increase in Q4 2023, helping to drive up the company's top-line revenue by 16% YoY. What the numbers show: In Q4, Spotify's monthly active users rose by 28 million to over 600 million, while its premium subscriber base grew by 31 million to 236 million, surpassing Wall Street guidance by about 1 million for both metrics. The Swedish audio streamer still reported a quarterly net loss of €70M ($75M), which was better than expected thanks to lower marketing and personnel expenses. Meanwhile, its ad revenue also hit an all-time high of €501M (about $538M) for the quarter. Why it matters: The music streaming company has expanded into podcasts and audiobooks, raised prices, and reduced its workforce in the past year, leading to favorable financial trends. It now expects a profitable Q1 2024. 
| | | |
| 4 | | Google said it will settle a lawsuit related to its former Google+ social media site for $350M. On Monday, the company filed the preliminary settlement, which would resolve claims that Google concealed a security bug that exposed the personal data of the site's users, More: - In 2018, Google discovered a three-year software glitch in Google+ that exposed users' personal data to outside developers but chose not to disclose it to the public or shareholders.
- According to a memo, Google feared that the disclosure would subject the company to public and regulatory scrutiny.
- While Google previously settled a class-action lawsuit with users in 2020, it has now agreed to settle another case led by the Rhode Island government, which had a state pension fund with Alphabet stock.
- Those who purchased the stock from April 23, 2018, to April 30, 2019, can apply for a share of the settlement.
- Google officially shut down Google+ in April 2019, in part due to "low usage" of the site.
| | | |
| 5 | | Adam Neumann is attempting to buy back WeWork, the bankrupt coworking firm he founded and from which he was ousted in 2019. However, Neumann has been unable to successfully engage with WeWork about a potential offer, according to a letter obtained by The New York Times. More: - Since December, Neumann's real-estate company, Flow Global, has expressed interest in buying WeWork out of bankruptcy.
- Flow, founded in 2022 with $350M from Andreessen Horowitz, is said to have the backing of "well-known capital sources," including Dan Loeb's Third Point, though the hedge fund has not committed to the financing.
- While Neumann has sought information from WeWork for a purchase offer, he has faced a "lack of engagement," according to the letter.
Zoom out: - WeWork rejected a $1B funding offer from Neumann to stabilize the company in 2022.
- Despite SoftBank acquiring 80% of WeWork and introducing new leadership, the company still filed for bankruptcy in November.
| | | |
| 6 | | Twitter competitor Bluesky is opening up its app to all users, moving away from an invite-only system. Launched in beta last year, the decentralized social network now claims over 3 million users. More: - Bluesky began as an internal Twitter project under co-founder and former CEO Jack Dorsey, who now sits on Bluesky's board.
- The platform uses a "decentralized" social app model, allowing users to form communities with custom moderation rules and teams.
- Like rivals X and Threads, the app follows a chronological timeline, with options to follow algorithmic feeds from other users.
- Bluesky operates on its AT Protocol, an open-source standard, with plans to soon experiment with federation.
Zoom out: | | | |
| 7 | | QUICK HITS - Diversify your portfolio like institutional investors. Access high yield private credit deals with up to 20% APY.*
- GM is recalling over 323,000 vehicles, including certain Chevrolet Silverado and GMC Sierra models, to fix tailgates that could unexpectedly open and create road hazards, according to the National Highway Traffic Safety Administration.
- Google is developing a YouTube app for the Apple Vision Pro headset as it optimizes YouTube for Safari.
- Mozilla launched Monitor Plus, a monthly subscription service for automatic personal information monitoring and removal from data broker sites.
*This is a sponsored post | | | |
| Upcoming Events | | MAR
7 | | Portfolio Diversification - Learn from knowledgable experts on the latest trends in alternative investment assets like private equity, crypto, real estate, and the art market. | | | | | | * This is a sponsored event | | | |
 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for notable publications like USA Today and the Arizona Business Gazette. During her time as a public policy reporter at The Arizona Republic, she received recognition with a Pulitzer Prize nomination and a First Amendment Award for her collaborative reporting on pension cost increases. Beth also authored a book on the solar photovoltaic industry in 2016. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
| |
| |
