Content Buffer
Welcome, Tech Leaders.
US President Trump imposes 25% tariffs on car imports, benefiting Tesla and hurting competitors.
honeybook reports $140m annual revenue, defying market trends. Let’s dive deeper…
In today's ContentBuffer update:
Tariffs hit car imports, boost Tesla
HoneyBook's $140m ARR, a rare bright spot
Instagram adopts TikTok's fast-forward reels feature
Facebook revamps friends tab for a more personal experience
TikTok expands e-commerce platform to Europe
Utah becomes first state to pass age verification law for app stores
5 new AI tools & 5 new AI jobs
More tech news
Latest Development
Trade Policy
Image source: TechCrunch
Summary: President Trump has imposed 25% tariffs on all car imports, affecting competitors like Ford, GM, and Hyundai. The move benefits Tesla, which builds its cars in the US and imports parts. Other EV manufacturers like Rivian and Lucid Motors won't be affected by vehicle import tariffs but will still face costs from importing parts.
Key Points:
Tariffs will supercharge car prices
Tesla benefits from domestic production
Competitors like Ford and GM are hurt
Other EV manufacturers unaffected
Why it matters: This move could significantly impact the electric vehicle market, with Tesla potentially gaining an advantage over its competitors.
Tech Startups Valuation
Image source: TechCrunch
Summary: HoneyBook's ARR is a rare bright spot in an otherwise challenging environment for startups. The company's strong financials are driven by its AI-powered business management software, which helps independent service-based entrepreneurs make informed decisions and grow their businesses.
Key Points:
HoneyBook has introduced new AI functionality to help users decide how to price services and serve their customers better
The company's ARR figure implies a valuation multiple of about 17 times ARR
HoneyBook's AI is embedded into its current offering, which includes CRM, billing, and payment processing
Why it matters: HoneyBook's success highlights the importance of innovative business management software in today's market.
Social Media
Image source: TechCrunch
Summary: Instagram introduces fast-forward option for reels, allowing users to speed up videos by long pressing on the right or left side of their screen. The feature is aimed at increasing viewer engagement and combating concerns over short-form video content's impact on attention spans.
Key Points:
The fast-forward option will allow users to watch more content quickly, which is in line with TikTok's original concept of offering bite-sized pieces of entertainment.
Instagram Reels also started off by allowing users to post videos that were only up to 15 seconds in length. Today, users can share videos that are up to 3 minutes long.
The ability to fast-forward a video increases the chances of a viewer actually reaching the end of longer videos.
Why it matters: This feature is significant as it addresses concerns over short-form video content's impact on attention spans and the ability to focus on longer-form content, allowing users to consume more content quickly.
Social Media
Image source: TechCrunch
Summary: Facebook has updated its friends tab to show only friend updates, posts, reels, and stories. The new feature is available in the US and Canada and aims to make Facebook more personal again
Key Points:
The new friends tab will showcase posts, reels, stories, birthdays, and friend requests from friends.
The update is initially available in the US and Canada, with plans to roll out globally later this year.
Facebook CEO Mark Zuckerberg had previously mentioned a 'return to OG Facebook' as one of his key goals for 2025.
Why it matters: This update aims to make Facebook more personal again by prioritizing friend updates over recommended content, which may attract users who have abandoned the platform in favor of other social media apps.
Digital Marketplace
Image source: TechCrunch
Summary: TikTok Shop expands to Europe, available to users in France, Germany, and Italy from next Monday. TikTok seeking to broaden product offerings and prices on the platform.
Key Points:
TikTok Shop has been available in the United Kingdom since 2021
The company is now expanding its e-commerce platform to France, Germany, and Italy on Monday
TikTok seeking to broaden product offerings and prices on the platform
Why it matters: This expansion will provide more opportunities for European sellers to showcase their products on TikTok Shop.
Tech Policy
Image source: TechCrunch
Summary: Utah becomes the first state to pass age verification legislation, requiring Apple and Google to verify users' ages on their app stores and obtain parental consent for minors. This new law aims to prevent minors from accessing inappropriate content on apps.
Key Points:
The App Store Accountability Act requires Apple and Google to take responsibility for verifying users' ages on their app stores
Apple has announced a new set of child safety initiatives, including an age-checking system for apps
Social media companies like Meta are thrilled with the new Utah law
Why it matters: The new Utah law aims to give parents greater control over teen app downloads and promote youth safety online.
New Tools & Job
Coleap 📚 - All-in-one learning platform for personalized education
PandasMake 🖌️ - AI-powered logo maker for customizable designs and preferences
WhatLetter 💬 - AI-powered document translation and conversation platform
Capit 📸 - Automatic social media image caption generation for seamless posting
Home 💸 - Intelligent technology for businesses to collect past due payments efficiently
Semaphore - Senior Software Engineer
Toggl - Senior Backend Engineer (Toggl Hire)
MapTiler - 🗺 Maps Search Engineer - Europe only
Missive - Senior Backend Software Developer
OnTheGoSystems - AI Developer
QUICK HITS
📰 Mexican startup Mendel secures $35M Series B round to tackle corporate spend management in Latin America.
🎮 Nintendo introduces Virtual Game Cards for seamless game transfer and lending between devices.
🤖 Major school systems and colleges have banned ChatGPT due to concerns about plagiarism and misinformation.
🗺️ Google rolls out AI-powered features to help plan summer trips.
💸 Abound, a Times Internet spin-off, raises $14 million for its mobile app serving Indian diaspora in the US.
THAT’S A WRAP
Partner with Us
Showcase your product to our engaged community of Tech enthusiasts
Our newsletter reaches a diverse audience of tech professionals, investors, engineers, managers, and business leaders worldwide. Get in touch today.
Latest Issues