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24 May

VCs Have Mostly Shut The Door On Smart Homes

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Startup investors have not done especially well betting on smart homes. Over the years, a growing number of well-funded companies have folded or failed to thrive betting on adoption of connected-home technologies such as smart windows, lighting, security systems and kitchens. And the misses continue. Earlier this month, smart-home upstart Brilliant disclosed that it laid off its entire staff while it seeks a buyer. Founded in 2015, the San Mateo, California-based company had raised $64 million in venture funding to scale an in-wall control system for lighting, doorbells, locks, cameras and other home systems. A month earlier, View, a maker…

24 May

US Sues to Break Up Ticketmaster and Live Nation, Alleging Monopoly Abuse

stp2y0 CommentsRAG modelsantitrust, department of justice, laws, music

In the second case, a class action brought in 2022 on behalf of Ticketmaster customers in the US, Live Nation and Ticketmaster were accused of abusing the complementary relationship between their services to overcharge consumers and sustain their monopoly. “Live Nation controls the vast majority of the big national touring acts and, either explicitly or implicitly, coerces concert venues into selecting Ticketmaster as their ticketing service provider on pain of losing high-value acts,” claims Adam Wolfson, a partner at Quinn Emanuel, the law firm representing the plaintiffs.This type of conduct, known as tying, was explicitly forbidden under the consent decree…

24 May

Only 1 in 4 Americans think you need a college degree to get a high-paying job: report

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A majority of Americans don't think earning a college degree is a pre-requisite for snagging a high-paying job, according to a Pew Research Center report released on Thursday."Only one-in-four US adults say it's extremely or very important to have a four-year college degree in order to get a well-paying job in today's economy," the center wrote in its report, citing a survey it conducted with 5,203 US adults from November to December 2023.Nearly half of the survey's respondents said having a four-year college degree is less important in getting a high-paying job today than it was 20 years ago. The…

24 May

How to Beat Back AI’s Threat to Democracy

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On this episode of Voternomics, Taiwan’s former digital affairs minister explains why grassroots efforts by humans can turn the tide. Source link lol

24 May

How Bain Capital Ventures Incubates AI

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Editor’s note: This article is part of an ongoing series in which Crunchbase News interviews active investors in artificial intelligence. Read previous interviews with Felicis, Battery Ventures, General Catalyst, Bessemer Venture Partners, Accel, Insight Partners, Index Ventures, Sequoia Capital, Section 32, M12 and Sapphire Ventures, as well as highlights from these stories from 2023. Bain Capital Ventures is investing out of its 10th flagship fund of $1.9 billion announced in February 2023 after the launch of ChatGPT, the technology that took generative AI mainstream. Despite the firm’s many decades in the investment business and its sizable funds — it has $10…

24 May

Judge Hints at Plans to Rein In Google’s Illegal Play Store Monopoly

stp2y0 CommentsRAG modelsandroid, antitrust, apps, courts, epic games, google, mobile, tech policy and law

A jury in December found that Google broke US antitrust laws through deals and billing rules that gave an unfair boost to its Google Play app store. On Thursday, a judge began laying out how Google could be forced to change its business as a penalty. The remedies under consideration could drive the most consequential shakeup ever to Google’s dominance over the Android universe.Fortnite video game developer Epic Games, which beat Google in the trial that saw a jury declare the Play store an illegal monopoly, is demanding that federal judge James Donato ban Google from contracts that deter competition.…

24 May

China’s $10,000 EV is coming to Europe. Sorry, America.

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As some US drivers pine for more affordable electric vehicle options, America is left to watch the rest of the world get access to some of the cheapest EVs on the market.Chinese automaker BYD, Tesla's largest rival in China, announced last month that it will bring its affordable electric hatchback, the Seagull, to Europe as soon as 2025, Bloomberg reported.The Seagull's base model sells for less than $10,000 in China.While European consumers won't see that same price due to tariffs and local standards, according to Bloomberg, BYD executives have said that the car is expected to sell for less than…

23 May

Alibaba Is Said to Price $4.5 Billion Convertible Bond Sale

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Alibaba Group Holding Ltd. has raised $4.5 billion from a convertible bond sale, in one of the largest such offerings in recent years, according to people familiar with the matter. Source link lol

23 May

The State Of Saas: After A Positive Start To 2024, Founders Can Find Success In A Reset Market

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By Jimmy Fitzgerald SaaS businesses grew in 2023, but they did so at a much slower rate than the years of pandemic hypergrowth. At the same time, revenue growth was down and churn rates were at an all-time high, reflecting a period of “normalization” post-pandemic due to rising interest rates and enterprises cutting down on their software expenditures. Jimmy Fitzgerald After a year characterized by slowdowns and cutbacks, our analysis of real-time subscriptions data from more than 34,000 software companies in Q1 2024 shows that the SaaS market has started the year on a more positive note, with growth coming…

23 May

Most US TikTok Creators Don’t Think a Ban Will Happen

stp2y0 CommentsRAG modelsadvertising, algorithms, china, instagram, meta, privacy, social media, tiktok

A majority of US TikTok creators don’t believe the platform will be banned within a year, and most haven’t seen brands they work for shift their marketing budgets away from the app, according to a new survey of people who earn money from posting content on TikTok shared exclusively with WIRED.The findings suggest that TikTok’s influencer economy largely isn’t experiencing existential dread after Congress passed a law last month that put the future of the app’s US operations in jeopardy. The bill demands that TikTok separate from its Chinese parent company within a year or face a nationwide ban; TikTok…