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Source: Bloomberg Law The U.S. Justice Department (DOJ) and eight states have filed a second antitrust complaint against Alphabet's Google. The lawsuit, filed today in federal court, claims Google has abused its dominance in the digital advertising market, violating the Sherman Antitrust Act. More: - In the complaint, the DOJ accused Google of using "anticompetitive, exclusionary, and unlawful means" to combat any threats to its monopoly over digital advertising technologies.
- This includes acquiring rivals via "anticompetitive mergers" and pressuring advertisers and publishers to use its own advertising technology products, the lawsuit claims.
- The DOJ has requested that the court order the company to divest its Google Ad manager suite, among other actions.
- The government's previous antitrust lawsuit, which remains ongoing, accuses Google of suppressing competition in the online search market. It's set to go to trial in September.
REUTERS | |
Components maker 3M said it will eliminate 2,500 manufacturing jobs globally after experiencing a significant drop in demand for its products. The U.S. company, which also makes Scotch tape and Post-it Notes, said it's facing lower sales and profits this year as consumers pull back on discretionary spending. More: - In particular, 3M cited the drop in demand for smartphones, TV sets, and other consumer electronics, for which it provides components.
- The Minnesota-based firm expects this demand trend to continue through the first half of 2023.
- The job cuts will help it align with declining production volumes amid ongoing macroeconomic challenges, CEO Mike Roman said.
- It now forecasts Q1 adjusted sales of $7.2B to $7.6B, lower than the $8.34B expected by analysts.
REUTERS | |
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Apple's upcoming mixed-reality headset will feature an interface that resembles the operating system for iPhones, according to a Bloomberg report. The publication revealed new details about the device, which is due to launch sometime this year. More: - The XR headset will not come with physical controllers. Rather, it will feature eye- and hand-tracking, meaning users will be able to control it by staring at an item on the screen and using hand gestures to activate it.
- Its iOS-like interface will feature a Home screen with customizable widgets and app icons.
- The device will be able to switch between virtual and augmented reality. In the latter, users can activate a pass-through mode, which turns on the headset's exterior cameras to view their surroundings.
- FaceTime-based video chatting and meeting capabilities will be a big area of focus. Apple plans to render a user's face and body during virtual meetings.
- Meanwhile, the company is said to be working with Disney and Dolby to develop VR content for the device. Its Apple TV+ content will be compatible with the headset.
BLOOMBERG | |
Netflix could begin cracking down on password sharing in the U.S. in late March, according to a shareholder letter. The streaming giant said it could implement what it referred to as "paid account sharing" more widely toward the end of Q1 2023. More - While exact details remain unclear, Netflix could charge a fee for users who access a subscriber's plan outside the primary household.
- In the letter, executives said the move would force “borrower households” to open their own accounts.
- The company has not specified how much the fee could cost. It's currently working to determine “the right price points," COO Greg Peters said during an earnings call last week.
- Netflix estimates that more than 100 million household share accounts worldwide. It says the sharing undermines the company's ability to invest further in the company and build its business.
- In November, Netflix introduced a lower-priced ad-supported plan, which it noted has led to "incremental membership growth.
CBS NEWS | |
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Twitter is facing two separate lawsuits over alleged nonpayment of rent at its HQ in San Francisco and offices in London. The legal actions come as new owner Elon Musk resorts to extreme cost-cutting measures to compensate for negative cash flow. In October, he acquired Twitter for $44B, which includes a large amount of debt financing. More: - The landlord of Twitter SF's headquarters, SRI Nine Market Square LLC, has filed a complaint alleging that Twitter missed rent payments amounting to nearly $6.8M in December and January.
- SRI covered most of the December rent payment by tapping into Twitter’s $3.6M letter of credit security deposit.
- However, the company claims Twitter still owes $3.1M for its January payment for the property, at 1355 Market St.
- In London, the Crown Estate has also sued Twitter, claiming it is behind on rental payments for its office space in the central part of the city.
- The Crown Estate, a commercial property portfolio representing the British monarchy, claims Twitter has overdue rental payments but did not publicly specify the amount.
THE WALL STREET JOURNAL | |
A professor at the University of Pennsylvania's Wharton School says OpenAI's ChatGPT demonstrated the ability to pass one of his exams. The AI chatbot outperformed some university students in a course covering the MBA subject of operations management, according to professor Christian Terwiesch. More: - On the exam, ChatGPT would have passed with a B- to B grade, Terwiesch said.
- Given the implications, he said schools will need to consider updating how they design curricula and their exam policies.
- Similarly, Professor Jerry Davis at the University of Michigan's Ross Business School told the Financial Times that ChatGPT is challenging the entire education sector, and it will only grow more difficult over time.
- "Time for a top-to-bottom rethink," he said.
- Similarly, Anthropic's Clause AI-powered chatbot successfully passed a law and economics exam at George Mason University.
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Community Corner I'm Kiani from Inside.com, and last week, we asked our tech community, "How do you think technology will change in your field in the next 5 to 10 years?" Here’s a highlighted response we received: -
Ayhan Ergezen (p/LivelyPencil), Founder of LivelyPencil, mentions a pause in technological advancements due to the pandemic, writing, “If it weren't for the chain pause caused by the pandemic, we might be talking about much crazier things.” He goes on to write, “Technological innovations gained momentum, but the pandemic tripped us up. We got up again, but it will take time for us to run, so I don't have great expectations.” Do you agree? Join the conversations at Inside.com, and we may shout out your name and business or contact you for more! ⭐️ | |
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- Apple released its iOS 16.3 software update on Monday, adding physical security keys used for two-factor authentication and other new features.
- Amazon announced RxPass, an add-on subscription service for U.S. Prime members that offers common generic medications for $5 per month.
- General Motors and LG ended their plans for a joint fourth battery cell plant in the U.S. The automaker will reportedly seek another company for the venture.
- Consulting firm McKinsey & Company said it has acquired AI and machine-learning startup Iguazio. Financial details were not disclosed.
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*This is a sponsored post. | |
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| | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. You can reach her at Beth.Duckett@inside.com. | | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. 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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