Tech Meme

Lora Kolodny / CNBC: Court filing: X is facing 2,200 arbitration cases from employees it laid-off after Musk took over; the filing fees alone for that volume of cases could be $3.5M  —  – Elon Musk’s X Corp. is facing 2,200 arbitration cases, a court filing in Delaware revealed on Monday. Lees verder op Tech Meme

Alex Zorn / Chicago Business Journal: Chicago-based Mediafly, which provides a revenue enablement service to Adobe, TransUnion, Nestle, and other large companies, raised $80M led by BIP Ventures  —  Chicago software company Mediafly announced an $80 million raise on Tuesday.  —  The funding round was led by BIP Ventures … Lees verder op Tech Meme

Danny Nelson / CoinDesk: Source: Robinhood, whose entry into crypto was powered by Jump Trading, split ways with the firm in early July, as Jump reportedly backs away from the US market  —  The retail broker’s entry into crypto several years ago was powered by Jump Trading, which is a giant in traditional financial markets. Lees verder op Tech Meme

Casey Newton / Platformer: Meta’s Oversight Board took 234 days to get a ruling in an incitement to violence case involving Hun Sen, revealing a problem with the board’s glacial pace  —  Today let’s talk about one of the most important cases that Meta’s Oversight Board has heard to date — and how the process ultimately revealed … Lees verder op Tech Meme

Kosaku Narioka / Wall Street Journal: Xiaomi reports Q2 revenue down 4% YoY to ~$9.25B and a net profit of ~$504M, vs. ~$440.9M est., more than doubling from a year earlier  —  The Chinese maker of smartphones and other electronics products said revenue declined 4.0%  —  Xiaomi said Tuesday that its second-quarter net profit … Lees verder op Tech Meme

Bloomberg: Sources: Tether has added Britannia Bank & Trust, a privately held bank operating in the Bahamas, to process dollar transfers  —  – Britannia Bank & Trust processes dollar transfers for Tether  — Stablecoin issuer faces long-standing questions on reserves Lees verder op Tech Meme

David Heaney / UploadVR: Meta Avatars finally get legs in Horizon Home, with the Quest v57 update on the Public Test Channel, after Meta said in October 2022 they were “coming soon”  —  Meta Avatars finally have legs in Quest Home with the v57 update on the Public Test Channel. Lees verder op Tech Meme

Amir Efrati / The Information: Source: OpenAI is on pace to generate more than $1B in revenue over the next 12 months from the sale of AI software and the computing capacity that powers it  —  OpenAI is currently on pace to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software … Lees verder op Tech Meme

Kyle Wiggers / TechCrunch: Google previews AlloyDB AI, an integrated set of capabilities built into AlloyDB for PostgreSQL to help developers build generative AI apps using their own data  —  AlloyDB, Google’s fully managed PostgresSQL-compatible database service, is gaining a few AI smarts. Lees verder op Tech Meme

Larry Dignan / Constellation Research: HP Q3: revenue down 10% YoY to $13.2B, vs. $13.4B est., Personal Systems revenue down 11% YoY to $8.9B, and Printing revenue down 7% YoY to $4.3B; HPQ falls 5%+  —  HP reported a mixed third quarter with sales lower than expected.  CEO Enrique Lores said, “the external environment … Lees verder op Tech Meme