Crypto News: TikTok faces the future

Hi, you're receiving our free Tech In Brief newsletter because you had been getting one of Bloomberg's technology newsletters that are now subscriber-only. You can manage your subscriptions here.

Tech Across the Globe

Meta job cuts: The social media giant is eliminating several hundred positions as part of a restructuring plan that will affect divisions including sales and Reality Labs hardware.

Age restrictions: Apple has introduced age verification measures in the UK that will restrict access to some features for those younger than 18 to conform with rules aimed at protecting minors from harmful content.

Disney's bad bets: New Chief Executive Officer Josh D'Amaro must pick up the pieces from two tech tie-ups that have fallen flat — an investment in Epic Games and a deal with OpenAI to license the studio's characters for the Sora video generator.

Revalued

AI research startup Periodic Labs is in talks to raise money at a valuation of about $7 billion — a significant jump from the $1.3 billion investors said it was worth in a seed funding round last September. The lab was founded last year by former OpenAI and Google DeepMind staffers.

Event

Hear from bold thinkers at SXSW London, June 1–June 6. Featuring Nick Clegg, Max Jaderberg (Isomorphic Labs) and Chris Levine on sovereign AI, drug discovery and where ideas really come from. The festival for the convergence of technology, business, and creativity that challenges thinking and shapes what comes next.

Must Read

TikTok is putting it into "fifth gear," executive said, as the popular social video app moves toward the future with the threat of a US ban lifted, Alexandra S. Levine reports in today's Tech In Depth. The app had a coming-out party of sorts, introducing product plans for marketers and advertisers at the NewFronts event in New York, she writes.

Get the Tech In Depth newsletter for analysis and scoops about the business of technology from Bloomberg's journalists around the world.

This Week in Cyber Bulletin

The war in Iran made the debate over the military's use of artificial technology very much front of mind at the Hill & Valley conference attended by tech executives and government officials in Washington, Katrina Manson reports in this week's Cyber Bulletin.

Sign up for the Cyber Bulletin newsletter for exclusive coverage inside the shadow world of hackers and cyberespionage ‒ and how businesses are playing defense.