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Elon Musk's representatives were given full access to the US Treasury's payment system, which handles trillions of dollars in federal funds.
X, owned by Elon Musk, is suing several advertisers in an antitrust lawsuit alleging a 'systematic illegal boycott' Let’s dive deeper…
In today's ContentBuffer update:
Musk's team granted access to US Treasury payments system
X sues advertisers over boycott claims
Adobe exec joins indie studio A24
Meta AI uses Facebook and Instagram data for personalized responses
Elon Musk's X declining
AI transforms workplace, enabling employee entrepreneurship
5 new AI tools & 5 new AI jobs
More tech news
Latest Development
Government Finance
Image source: TechCrunch
Summary: The US Treasury's payment system was historically limited to a few staff due to its sensitivity, but Musk's team has been given full access. Wyden is concerned about the potential risks to national security and economy.
Key Points:
Elon Musk's representatives were granted full access to the US Treasury's payment system.
The system handles trillions of dollars in federal funds, including Social Security and Medicare benefits.
Musk's team has significant business interests in China, which raises concerns about cybersecurity risks.
Wyden is warning that any politically-motivated meddling in the payments system could risk severe damage to the country and economy.
Why it matters: The access granted to Musk's team raises concerns about potential national security risks and conflicts of interest.
Tech News
Image source: TechCrunch
Summary: X sues multiple advertisers, including Twitch and Nestlé, alleging a 'systematic illegal boycott' of its advertising platform. The lawsuit claims that the boycott has harmed X's business, resulting in decreased revenue and ad prices.
Key Points:
X alleges that at least 18 GARM-affiliated advertisers stopped purchasing ads on Twitter between November and December 2022.
The lawsuit claims that the majority of X's advertising revenue comes from small- and medium-sized businesses that are not GARM members or clients of GARM-member advertising agencies.
X is suing multiple advertisers, including Twitch, Nestlé, Abbott Laboratories, Colgate, Lego, Pinterest, Tyson Foods, and Shell.
Why it matters: The lawsuit highlights concerns about the impact of ad boycotts on social media platforms and the importance of ensuring a level playing field for all advertisers.
Industry News
Image source: TechCrunch
Summary: Adobe's chief strategy officer Scott Belsky has left the company to join indie movie studio A24. As a partner, he will be 'kicking off a few special projects' and backing the world's best storytellers at A24.
Key Points:
Belsky joins A24 as a partner after serving as executive vice president of design and emerging products at Adobe
He will support the world's best storytellers at A24, which has released critically acclaimed movies in various genres
A24 has been signaling bigger commercial ambitions by raising significant funding rounds
Why it matters: The move highlights A24's growing ambition and willingness to take risks in the film industry
Artificial Intelligence
Image source: TechCrunch
Summary: Meta AI can now use Facebook and Instagram data to personalize its responses, using NLP and machine learning algorithms. This feature could be used for various applications, including customer service and marketing.
Key Points:
The new feature uses Facebook and Instagram data to analyze user behavior and preferences
The feature uses natural language processing (NLP) and machine learning algorithms
This ability can be used for various applications, including customer service and marketing
Why it matters: This feature could revolutionize the way businesses interact with their customers by providing personalized responses.
Tech_news
Image source: TechCrunch
Summary: Elon Musk's X declines as other social networks gain traction. Mastodon and Threads see significant growth, with Mastodon having 10 million registered users and Threads having 100 million daily active users.
Key Points:
Mastodon has a longer track record than Bluesky, operating since 2016.
Threads makes it easy to follow people you already want to follow from Instagram.
Elon Musk's X decline is likely attributed to his takeover of Twitter and other factors.
Why it matters: The decline of Elon Musk's X highlights the importance of decentralized social networks like Mastodon, Bluesky, and Threads, which offer alternative platforms for users to share content and connect with others.
Artificial Intelligence Workplace Innovation
Image source: TechCrunch
Summary: AI enables employee entrepreneurship, transforming the workplace with real-time web search, custom agents, and deep learning models.
Key Points:
Employees can create custom AI agents for specific tasks using preferred AI models.
To manage AIs effectively, employees need entrepreneurial knowledge to embed a strong business model.
With AI, employees become managers of AI agents, leading to increased productivity and new opportunities.
Why it matters: The significance lies in the empowerment of employees to become entrepreneurs, driving innovation and growth in various industries.
New Tools & Job
Doc 📄 - AI-powered documentation tool for creating user manuals
Copy Audit 💡 - Audit your landing page copy with AI-generated suggestions
ToleAI 🗣️ - Generate content, translate languages, and analyze sentiment in real-time
Summary 👀 - Effortlessly summarize large texts into concise and clear summaries
Fireworks 💥 - Deploy state-of-the-art language models for product innovation at blazing speed
OnTheGoSystems - Ruby on Rails Developer
RAPIDCODE LLC - Backend Developer - Browser Automations
Proton.ai - Senior Backend Engineer
OnTheGoSystems - Senior PHP / AWS Developer for System Optimization
BotGuard - Lead Software Engineer - Networking and Web Security
QUICK HITS
🔥 tech is upbeat about more companies going public this year as Shein, General Atlantic, and Oyo prepare for IPOs.
🚨 Startups face increased pressure to sell or shut down as Venture Debt Lenders will play a big role in fire sales and startup shutdown this year, experts say.
📱 TikTok's potential US ban has sparked features, including one for Bluesky focused on photos and a news reader for the Fediverse.
THAT’S A WRAP
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