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| Here's a look at today's tech briefing: - Former Activision CEO considers buying TikTok.
- Apple allows Epic to launch gaming app store in Europe.
- Reddit targets up to $6.4B valuation in long-awaited IPO.
- X to launch YouTube-like app on smart TVs.
Thanks for reading, Beth
p/beth-duckett | |
| 1 | | Former Activision CEO Bobby Kotick has offered to buy TikTok amid congressional efforts that could force parent company ByteDance to sell the video app. According to a Wall Street Journal report based on unnamed sources, Kotick proposed the idea to potential partners, including OpenAI CEO Sam Altman, at an Allen & Co. conference dinner last week. More: - Kotick left Activision Blizzard in December after a 32-year tenure, following the approval of Microsoft's merger.
- He told ByteDance Executive Chair Zhang Yiming that he is interested in buying TikTok, a source familiar with the effort told the WSJ.
- The ex-CEO is reportedly seeking partners for the potential deal, which could cost hundreds of billions of dollars.
- ByteDance has long said that TikTok is not for sale and a high-ranking Chinese government official recently stated that Beijing "will resolutely oppose" such a transaction.
Zoom out: - The interest comes as proposed legislation threatens to either ban TikTok in the U.S. or force its sale over "national security risks."
- If the bill is approved, ByteDance would have to sell TikTok within six months, or face a ban from U.S. app stores and web-hosting services unless it severs ties with its Chinese ownership.
- Legislators worry that ByteDance could provide user data to the Chinese government or manipulate the platform to sway American political views.
- On Friday, President Biden said he would sign the bill should Congress pass it.
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| 2 | | Apple has agreed to reinstate Epic Games' developer account after banning it last week. The move allows Epic to launch its own video game app store on iPhones and bring Fortnite back to iOS in the EU. More: - Apple terminated Epic's developer account last week, claiming Epic is "verifiably untrustworthy" and expressing doubt that it would comply with the contractual obligations of the agreement.
- Shortly after, the EU contacted Apple about the ban, saying it could be a violation of the bloc's newly enforced Digital Markets Act.
- Under that law, Apple and Google are barred from monopolizing app distribution on iOS and Android devices.
- On Friday, Epic announced in a blog post that Apple has agreed to reinstate its account. Epic argued the decision signals to developers that EU regulators will "act swiftly to enforce the Digital Markets Act and hold gatekeepers accountable."
Zoom out: - In addition to launching the Epic Games Store on iPhones and iPads in the EU, millions of Apple's EU users can once again play Fortnite on their iPhones after a four-year hiatus by downloading the latest iOS update.
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| 3 | | Social network Reddit on Monday disclosed plans to raise up to $748M through its initial public offering, targeting a valuation of up to $6.4B. Reddit is set to debut on the New York Stock Exchange next week, trading under the ticker symbol "RDDT." More: - The IPO, the first for a social media firm since Pinterest in 2019, comes over two years after Reddit began preparations.
- In new filings, Reddit said it plans to offer 22 million shares, priced between $31 and $34 each, which would raise between $682M and $748M.
- This would give the company a fully diluted valuation of $5.8B to $6.4B — down from $10B in 2021 — and a market cap of $4.9B to $5.4B.
- Reddit is reserving about 1.76 million shares for early users and moderators to buy and sell immediately after its IPO, bypassing the usual six-month lock-up period.
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| 4 | | Elon Musk's X, formerly Twitter, plans to launch a YouTube-like app for users to watch videos on smart TVs. In a post on X, Musk confirmed the app is "Coming soon." More: - The dedicated app will let users watch longer-form videos specifically on Samsung TVs and Amazon's Fire TVs.
- Musk aims to compete with YouTube by promoting video viewing on larger screens, a source told Fortune.
- The new app looks "identical" to YouTube's TV app, the person said.
Zoom out: - In January, Musk said X is now a "video-first platform."
- He claimed that X visitors are watching videos about 80% of the time.
- The push could help X attract and win back advertisers and users. A new Edison Research study shows a 30% decline in the share of the U.S. population using X this year.
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| 5 | | Airbnb will ban indoor security cameras in global listings to prioritize renter privacy. The rental app previously allowed disclosed cameras in common areas but banned them in private spaces like bedrooms and bathrooms. More: - All Airbnb listings will now be banned from having indoor security cameras, regardless of their purpose, location, or prior disclosure, the company said.
- Hosts with indoor security cameras must remove them by April 30.
- Airbnb is also requiring hosts to disclose noise decibel monitors and outdoor cameras, which can't be located in areas like saunas with a "greater expectation of privacy."
- Those who violate the policies can have their listings or accounts removed.
Zoom out: - According to Airbnb, most of its listings do not report having security cameras, so the update should only "impact a smaller subset of listings on the platform."
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| 6 | | Employers are willing to raise salaries by up to 44% for AI-skilled workers, particularly in the IT and R&D sectors, according to a survey commissioned by Amazon Web Services (AWS). The study, carried out by Access Partnership for AWS, surveyed 4,664 employers and 14,896 workers in nine Asia-Pacific countries, including Australia, India, and Japan. More: - The survey showed employers are willing to raise salaries by up to 44% for AI experts in IT and 41% in R&D.
- They would pay 39% extra for AI talent in sales, marketing, and business operations, and 37% more for finance workers with AI skills.
- On average, workers with AI skills could expect a 33% raise. Employers in India were willing to offer the highest raise at 54%, the top among surveyed countries.
Zoom out: - Facing a shortage of AI experts, companies are ready to pay top dollar for skills in areas like GenAI, prompt engineering, Python, natural language processing, and more.
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| 7 | | QUICK HITS *This is a sponsored post | | | |
 | AI and technology writer | | Beth is a contributing editor and writer of Inside's AI and Tech newsletters. She has written for publications including USA Today, the Arizona Business Gazette, and The Arizona Republic, where she received recognition with a Pulitzer Prize nomination and a First Amendment Award for collaborative reporting on state pension cost increases. You can reach her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Eduardo Garcia | |
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