Where we bring you news, innovations, and thought-provoking insights from AI, IT, and beyond. In this week’s newsletter we’re looking at:
- The state of Alphabet’s “moonshot factory”
- Apple’s Vision Pro debut
- Why baby boomers love Temu
IN THE SPOTLIGHT
🚀 ‘Moonshots’ are grounded at Google
Alphabet’s recent layoffs have impacted its seemingly most optimistic division, X. Founded by Google’s Larry Page and Sergey Brin in 2010, X was created to nurture futuristic technologies with the potential to improve the world. Despite this ambitious mission, numerous employees are now facing layoffs within Alphabet’s “moonshot factory”. The company is currently undergoing restructuring to facilitate the transformation of projects into profitable, independent businesses.
TL;DR
- Jobs have been eliminated at YouTube and multiple Google divisions this quarter.
- Alphabet cut 12,000 jobs, or about 6% of staff, last January, and Amazon cut over 25,000 jobs in 2023.
- Many job cuts and hiring freezes are tied to companies’ growing focus on AI – not just at Google, but also at Duolingo and Salesforce.
TECH HEADLINES FROM ACROSS THE WEB
🍎 Apple Vision Pro debut draws crowds
There were early-iPhone-style lines at Apple stores for the debut of company’s Vision Pro headset — the tech giant’s first major product launch since 2015. But plenty of those queueing up were there to try, not buy, the device. That appears to be just fine with Apple, which is expecting “relatively immaterial” sales for 2023, but seems eager to introduce consumers to mixed-reality experiences.
💸 Deepfake fools CFO
Thinking a request had come from his company’s chief financial officer in a video call, a Hong Kong employee remitted $25.6 million — but it turned out to be a deepfake. While the initial text seemed suspicious, the people on the call “looked and sounded just like colleagues he recognized,” authorities said.
🤖 Where AI will have the biggest impact
Industries with a high percentage employees in roles that require a college degree — namely tech and banking — will bear the brunt of the generative AI revolution, according to a new report by the Burning Glass Institute. On the flip side, restaurants, retail and transportation are the sectors most insulated from the impact of this new generation of AI.
BABY BOOMERS ❤️ TEMU
Contrary to common perceptions of being a “youth-oriented” platform like Shein and TikTok Shop, the Chinese e-commerce app Temu has a surprising user demographic. Recent data has revealed that in its inaugural year in the U.S., Temu’s primary customer base consisted of Gen Xers and baby boomers, not Gen Z shoppers. Those aged 59 and above emerged as the most loyal customers, making twice as many purchases as Gen Z shoppersand averaging six orders over a 12-month period. The prevailing reason cited by one Gen Xer for this unexpected trend is the platform’s “affordability and ease of use”.
