Title: Meta’s Threads Launches, OpenAI Unveils GPT-4, and Pornhub Implements Access Restrictions
Meta’s Threads, OpenAI’s GPT-4, and Pornhub’s access restrictions are among the notable tech developments this week. Here’s a recap:
Meta, formerly known as Facebook, introduced Threads, a text-based social networking app. Threads allows Instagram users to post short tweet-like updates using their existing credentials. The app gained immense popularity, accumulating over 30 million sign-ups within 24 hours. Its availability extends to iOS and Android in almost 100 countries, excluding the EU due to data privacy regulations.
However, the launch of Threads has triggered a potential legal battle. Twitter has threatened to sue Meta, accusing the social media giant of unlawfully poaching former Twitter employees to create the new platform. Twitter’s lawyer, Alex Spiro, recently sent a letter to Meta CEO Mark Zuckerberg, alleging the misappropriation of Twitter’s trade secrets and other intellectual property.
A notable aspect of Threads is the compulsion to delete the linked Instagram account when deleting a Threads account. This revelation surprised many users who were unaware of this stipulation. Meta explains that a Threads profile is considered a part of the user’s Instagram account, leading to the necessity to delete both simultaneously.
In another significant development, OpenAI announced the general availability of GPT-4, its latest text-generating model, through its paid API. GPT-4 offers enhanced capabilities compared to its predecessor, GPT-3.5, by accepting image and text inputs in addition to generating text (including code). OpenAI claims that GPT-4 performs at a human level on various professional and academic benchmarks. However, it is important to note that GPT-4 is not without flaws.
Humane, a secretive hardware startup founded by ex-Apple design and engineering duo Imran Chaudhri and Bethany Bongiorno, unveiled its first product called the Ai Pin. The Ai Pin is a wearable gadget equipped with a projected display and AI-powered features, reminiscent of a futuristic smartphone but in a remarkably different form factor. The precise details and functionality of the device have been unveiled, generating anticipation among tech enthusiasts.
In a move to comply with recently enacted laws, Pornhub restricted access to users in Mississippi, Virginia, and Utah. These states require age verification to access adult websites, which privacy advocates have criticized as intrusive. Users are now required to provide personal information, such as government IDs, to access adult content online.
Elsewhere, Fidelity has lowered its estimated valuation of Reddit for the second time. Fidelity Blue Chip Growth Fund reported that the value of its holdings in Reddit stood at $15.4 million as of May 31, down 7.36% from the previous month. This marks a 45.4% decrease from the fund’s initial investment in August 2021, signaling a potential $5.5 billion valuation for Reddit.
In other news, Goldman Sachs is reportedly seeking to end its high-profile partnership with Apple after four years. The investment banking firm is in talks with American Express to hand off its responsibilities related to the Apple Card and its newly added savings accounts for cardholders. The outcome of these discussions is uncertain, and it remains to be seen whether Apple would support the transition.
For those seeking engaging content, TechCrunch offers a range of quality podcasts. This week, Equity features an interview with Immad Akhund, CEO and co-founder of Mercury, a company that stepped in to fill the gap in business banking after Silicon Valley Bank’s collapse. The Found crew interviews Charles Baron, co-founder and CMO of Farmers Business Network, a startup offering online services to farmers.
Readers can access in-depth commentary, analysis, and surveys through TC+ subscriptions, providing additional value. Topics covered this week include the differences between the U.S. and European startup environments in terms of experimentation and talent distribution, the financial implications of relocating a company for tax purposes, and the challenges faced by Black founders in the French startup ecosystem.
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