August 2023

Powered by electric vehicle growth, China overtakes Japan as biggest auto exporter

August 8, 2023
One might start noticing more Chinese cars in Western markets in recent times. In the first half of the year, China exported 2.34 million vehicles, according to customs data. The tally surpassed that of Japan, which finished H1 with 2.02 million cars exported. This is the first time China has overtaken Japan in automobile export […]

Why it’s impossible to build an unbiased AI language model

August 8, 2023
This story originally appeared in The Algorithm, our weekly newsletter on AI. To get stories like this in your inbox first, sign up here. AI language models have recently become the latest frontier in the US culture wars. Right-wing commentators have accused ChatGPT of having a “woke bias,” and conservative groups have started developing their own…

Europe confirms in-depth probe for Adobe’s $20B Figma acquisition

August 8, 2023
The European Commission (EC) has confirmed that it’s opening an in-depth investigation into Adobe’s proposed $20 billion bid for digital design software rival Figma. The Commission said that the acquisition “may reduce competition in the global markets for the supply of interactive product design software and for digital asset creation tools.” First announced last September, […]

Paramount+ tops 61 million subscribers after Showtime merger

August 8, 2023
Paramount said that it added 700,000 subscribers to Paramount+ in Q2 2023 after the company launched a subscription tier with Showtime integration in June. This addition meant Paramount+ subscriber count now stands at around 61 million — up from the 60 million reported last quarter. The new integrated $11.99 per month plan with Showtime replaced […]

SoftBank posts loss, with a cumulative loss of $6.3B in its Vision Fund business

August 8, 2023
As SoftBank prepares to dive deeper into AI investments, the group posted an unexpected consecutive quarterly overall loss, as well as a continued loss in its existing investment business. SoftBank’s Vision Fund 1 and 2 and its Latin American fund together posted a quarterly investment loss of 13 billion yen ($91 million). That is significantly […]

Seoul-based proptech Dongnae acquires co-living platform Dears

August 8, 2023
Proptech startup Dongnae said Tuesday it plans to acquire Stevens, a South Korean company that operates co-living business Dears. The two companies did not disclose the acquisition price, but Dongnae said it will purchase Stevens with a mix of cash and equity. The Seoul-based proptech outfit previously raised a total of $34 million, including a $21 million […]

Apple Music adds a new algorithmic station to let users discover new music

August 8, 2023
Apple Music has added a new algorithmic radio station to the app called ‘Discovery Station’ in a way to compete with Spotify’s personalized lists. Apple’s Sweden-based rival service has offered its signature “Discover” playlists for years now. In response to that, Apple Music has started rolling out the new station for people to find new […]

China’s draft measures demand ‘individual consent’ for facial recognition use

August 8, 2023
The pervasive use of facial recognition technology across all facets of life in China has elicited both praise for its convenience and backlash around privacy concerns. The widespread adoption has also fueled the exponential growth of valuations in companies specializing in the field, such as AI giants SenseTime and Megvii. Now the industry is facing […]

Meet with Samsung Next and other pivotal partners at TechCrunch Disrupt 2023

August 7, 2023
TechCrunch Disrupt 2023, which runs September 19–21 in San Francisco, is the startup world’s big tent. It draws founders, venture partners, CEOs, engineers, scientists, policy makers, researchers and entrepreneurs, product managers, CMOs, corporate M&A directors, MBA candidates and business developers who form the entire backbone of the startup ecosystem. The basic gist: It’s where startups […]