Intel has apologized after asking suppliers to not source from China's Xinjiang region, where the U.S. and activists say human rights violations against Muslim Uighurs are rife. The apology comes after the U.S. government added more Chinese firms to its investment blacklist over the alleged abuses. More: - In a letter this month, Intel told suppliers that it is "required to ensure our supply chain does not use any labor or source goods or services from the Xinjiang region."
- The letter sparked a backlash and calls for a boycott from state and social media in China.
- Chinese pop star Wang Junkai, Intel Core's brand ambassador, cut ties with the firm, saying "national interests" comes "above all else."
- In response, Intel leaders said they "deeply regret" the concerns raised by Chinese partners, clarifying that the intention with the letter was to ensure compliance with U.S. laws, not make a statement on Xinjiang.
- From 2018 through 2020, Intel's largest market by revenue was China.
THE WALL STREET JOURNAL | |
Top Meta executive Andrew Bosworth wants the company to target a "deep compatibility" with blockchain, according to an internal company post. Bosworth, who will become the Facebook parent's CTO in 2022, talked up the idea of working jointly with blockchain and/or cryptocurrency technologies in the Web3 space. More: - Web3, or Web 3.0, is a hypothetical decentralized version of the internet based on blockchain, the tech behind cryptocurrencies and NFTs.
- In a note to employees, Bosworth suggested that Meta should explore adopting the technologies before other firms, adding that blockchain will likely have “profound impacts on our industry over the next decade.”
- Bosworth said the company should explore ways to work with NFTs. He still warned employees not to "over-correct" by relying solely on decentralized technologies.
Zoom-out: - VC firm leader Marc Andreessen, a Meta board member, has dedicated funds for investing in Web3.
- Web3 advocate and former Twitter CEO Jack Dorsey was recently blocked by Andreessen on Twitter.
- It's likely because he suggested that Andreessen's venture capital firm, Andreessen Horowitz, and other wealthy VCs would own and control Web3 rather than "the people."
THE NEW YORK TIMES | |
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Chinese social-media company Tencent will reduce its stake in e-commerce giant JD.com by distributing ~457 million shares, about $16.4B worth, to Tencent shareholders as a one-time dividend. This will leave Tencent with a 2.3% stake in JD.com, down from 17%. More: - The tech conglomerate, one of China's most active investors, plans to distribute the JD shares in March.
- Tencent said the online retailer has reached a point when it no longer needs its financial backing.
- Under the deal terms, Tencent President Martin Lau has resigned from JD’s board effective today.
- The WeChat owner still retains large stakes in shopping giant Pinduoduo, food-delivery firm Meituan, and others.
Zoom-out: - The divestiture comes amid pressure from the Chinese government as it clamps down on anti-competitive behavior by big tech firms through increased regulatory scrutiny.
- Tencent may be sending a message to the government that it's not “trying to amass influence” and expand its portfolio even wider, a source told The Financial Times.
BARRON'S | |
Amazon's Echo devices are no longer in a growth phase and the company predicts that sales will rise only 1.2% annually over the next few years, according to internal documents obtained by Bloomberg. The report suggests that users have failed to embrace the smart assistant's more advanced features, and often use it only for basic tasks like playing music or turning on lights. More: - A quarter of U.S. households owned at least one Alexa device in 2020, data shows.
- According to the documents, there were years when 15% to 25% of new Alexa devices went unused after only a week, suggesting a novelty of the devices that wears off over time.
- Meanwhile, just over 55% of Echo Dot owners use it on a weekly basis, and two-thirds of standard Echo use it at least weekly.
- The weekly engagement rate is higher — nearly 75% — for Alexa devices with screens.
- An Amazon spokesperson refuted the claims that Alexa's growth is slowing, noting that customer usage is increasing and Alexa is now in more households than ever before.
BLOOMBERG | |
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Leaked renders of OnePlus 10 Pro OnePlus is gearing up to launch the OnePlus 10 Pro smartphone in January, according to co-founder and CEO Pete Lau in a Weibo post. The reveal would occur earlier than previous OnePlus flagship phones, which are typically announced in March or April after Samsung's Galaxy S series. More: - According to reports, OnePlus may only announce a single phone rather than both a base model and a pro phone.
- Its 10 series phones are expected to have an Android 13-based operating system, showing the combined software of OnePlus and Oppo, its new parent brand.
- Lau previously said the OnePlus 10 Pro will utilize the Qualcomm Snapdragon 8 Gen1 CPU.
- Leaked renders suggest the device will have a 6.7-inch QHD Plus display with a 120 Hz refresh rate, four camera lenses, 12GB of RAM, and a 5,000mAh battery.
- The phone could become available to purchase in March, as the OnePlus 9 and OnePlus 9 Pro came out in March 2021.
- The Samsung Galaxy S22 is expected to launch in late February.
GIZMODO | |
Instacart is exploring a partnership with Tortoise and WorkWhile to make grocery deliveries using sidewalks robots, a document obtained by Insider shows. Instacart wants to pursue last-mile delivery through bots as the market for ultrafast grocery delivery solutions heats up. More: - The partnership could see Tortoise's remote-controlled "mini-warehouses on wheels" deliver to customers alongside WorkWhile couriers.
- The robots can haul up to 250 pounds and travel at a speed of around 4 mph.
- According to the companies, the robots could see ~40% of orders delivered 2x as fast as the couriers wouldn't have to return to nearby fulfillment warehouses.
- It would help Instacart to save on real-estate investment costs, it said.
BUSINESS INSIDER | |
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- Instagram could introduce NFTs as parent company Meta accelerates the metaverse ecosystem.
- The U.S. Senate approved a bill that would provide further training for federal workers who manage and purchase artificial intelligence technologies.
- Bitcoin mining profitability fell 36% from its peak of $60,000 in November.
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| | Beth is an Inside Analyst and a former public policy/investigative reporter. She has covered AI, VR, technology, and e-commerce for Inside. When she's not busy writing, she's hiking in Arizona's desert, playing pickleball, or trying out new Mexican food recipes. | | | Editor | Eduardo Garcia is a writer and editor based in New York. He is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
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