Connected newsletter: More tech layoffs as crypto-traded funds are approved
Connected at the Business Post is your source for the news that matters in technology and innovation, all told from an Irish perspective
Welcome back to the Connected newsletter where we have plenty of tech news to report on this week. Not all of it is positive however, with confirmation from a number of tech giants, not least Google and Amazon, of more job cuts.
Other companies announcing layoffs this week included Unity, the gaming software firm, and Rent the Runway, whose Irish workforce looks to have been spared the brunt of the cuts. The same can not be said for Google it seems.
In yet more downbeat news, hopes of a rebound for the tech sector remain low with Samsung’s latest results showing just how tough things are at the moment.
CES, the annual US trade show that highlights all the best consumer electronics gadgets coming our way, is currently on in Las Vegas. As tends to happen these days, a number of tech firms sought to get ahead of the news cycle, with Apple in particular seeking to spoil the party with confirmation that the Vision Pro mixed reality headset will go on sale early next month.
Amazon was among the companies that made announcements at CES. It launched Matter Casting, a new video-streaming tool to rival Apple’s AirPlay and Google’s Cast. Separately, Nvidia unveiled three new desktop graphics chips.
Weekly Newsletter
If you would like to receive the Connected newsletter automatically in your inbox every week, please sign up here
There has been plenty happening in the regulatory space over the last few days with the US Securities and Exchange Commission approving exchange-traded funds (ETFs) that invest directly in Bitcoin for the first time. Two days ahead of the announcement the SEC’s X account was compromised, with a fake post claiming that the agency had green-lit plans fuelling a brief surge in the price of the world’s biggest cryptocurrency.
Elsewhere, it was revealed that the European Union is keeping a very close eye on the partnership between Microsoft and ChatGPT creator, OpenAI. In yet more regulatory news, our very own Coimisiún na Meán revealed the ten video-sharing platforms that will be bound by new online safety rules, while Amazon attacked EU privacy watchdogs amid claims regulators’ are looking to punish the company, rather than protecting people’s data.
Global chip sales rose for the first time in more than a year in the latest indication of demand starting to rebound on the back of emerging technologies such as artificial intelligence. Staying with AI, and a World Economic Forum study published on Wednesday shows the spread of AI-driven misinformation is the biggest and most urgent risk for global business leaders currently.
TikTok, the Chinese video-streaming platform, has became the first app to surpass $10 billion in cumulative consumer spending. Overall, video-streaming platforms drove an 11 per cent rise in consumer app sales in 2023.
In case you missed it, we revealed on Sunday that big tech companies have harshly criticised the government’s proposals to introduce a new centralised procurement process for a €60m public sector cloud computing service.
Finishing off with news that Scale Ireland is to host its third regional start-up summit in Limerick next month. Meanwhile, Endeavour Ireland has launched its Scale Up programme in Northern Ireland.
All the best,
Charlie
The new digital dark age (Wired)
How Microsoft found a potential new battery material using AI (The Verge)
