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Business Archive

Archives for July 2024

Why The Atlantic signed a deal with OpenAI

CEO Nicholas Thompson discusses the deal: ‘AI is coming. It is coming quickly. We want to be part of whatever transition happens.’

Nilay Patel
How one small company’s SEO garbage made it to Sports Illustrated and USA Today

The man behind the AI gaffes has a yearslong history of filling the internet with garbage.

Mia Sato
Richard Lawler
Richard Lawler
Intuit fires 1,800 employees to hire 1,800 employees and focus on AI.

Last spring, Business Insider noted that Intuit was unusual among its peers because it hadn’t done mass layoffs.

Following shutdowns of the Mint app and MailChimp-owned TinyLetter, CEO Sasan Goodarzi today announced layoffs, saying they include “approximately 1,050 employees leaving the company who are not meeting expectations.” as it accelerates investing in data and AI like its Assist bot.

Emma Roth
Emma Roth
AMD will acquire an AI startup for $665 million.

The Finland-based Silo AI is described as the “largest private AI lab in Europe” and has provided AI solutions for companies like Phillps, Rolls-Royce, and Unilever. In addition to Silo AI, AMD also acquired the AI startup Nod.ai last year as it aims to keep up with the likes of Nvidia.

Wes Davis
Wes Davis
Does Airbnb protect its guests’ privacy?

A CNN investigation found that Airbnb routinely ignores or silences, through settlements and NDAs, guests who find hidden cameras in their rentals’ bedrooms and bathrooms.

In one case, Airbnb told guests who found a camera pointed at their bed it wanted to get the host’s side of the story. It allowed him to continue hosting for months, even after being told he was under police investigation. Police eventually raided his property:

Among the more than 2,000 recovered images, law enforcement identified more than 30 victims, including several children. Many guests – who booked the same property either through Airbnb or Vrbo – were captured in various stages of undress. Some were recorded having sex.

Update: Altered the text for clarity.

Canva CEO Melanie Perkins thinks the design world needs more alternatives to Adobe

To her, AI is just an extension of what Canva has always done: make accessible design tools that cost less than Adobe’s.

Nilay Patel
Wes Davis
Wes Davis
A Paramount and Skydance merger is THIS CLOSE.

A “special committee” of Paramount’s board approved a rumored merger with Skydance Media, which will be announced Monday, according to Bloomberg. The news could signal the end of the dramatic Paramount merger saga that’s been going on for months.

Time to pop the champagne? Perhaps. At least put it on ice. Maybe hold the glasses for a bit, though. We’ve been here before.

Elizabeth Lopatto
Elizabeth Lopatto
Tether truthers, start your engines!

Two former execs of a German AI data center company, Northern Data, say they were fired for raising concerns the company was “misrepresenting the strength of its financial condition,” in a wrongful termination lawsuit. Northern Data, which is backed by Tether, has been looking into an IPO in the US.

Elizabeth Lopatto
Elizabeth Lopatto
Peter Thiel’s all-drug Olympics needs money.

The Enhanced Games, a Saturday Night Live skit come to life, is trying to raise before the first competition. I’m very curious to see who invests!