Snap says memories aren’t free

Snapchat users are unhappy with the app’s plan to charge them to save their content ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Here’s your wrap of the latest must-read tech news. For more expansive and analytical coverage from around the globe, get the Tech In Depth newsletter. Market Snapshot Alphabet Inc $362.43 -4.0% Microsoft Corp $487.46 -1.1% Meta Platforms Inc $588.77 +0.1% Market data as of 08:34 PM ET. Data is subject to provider delays. Your watchlist Top Stories Google AI shake-up: The Alphabet company is losing some of its most prominent artificial intelligence researchers and executives in a significant overhaul. Several are leaving to create an AI startup. Microsoft’s deal with OpenAI: The software maker generates an estimated 70% of its $24.1 billion in annual AI business from OpenAI. Investors question Microsoft’s reliance on the AI company. AI breach: Meta announced its AI model breached a third-party’s computer systems during a test of its cyber capabilities. It follows similar hacks by models from OpenAI and Anthropic. Must Reads Major Hedge Funds Targeted in Wave of Attempted Cyberattacks Hackers launched a wave of sophisticated attacks on Wall Street firms in recent days, targeting information systems at major money managers, according to people familiar with the matter. Armed With $10 Billion, Sequoia’s Leaders Plan Its New Era Alfred Lin and Pat Grady are repositioning the 54-year-old firm for a world dominated by artificial intelligence. Figma CEO Forfeits $46 Million in Stock After Share Decline Figma Inc. Chief Executive Officer Dylan Field forfeited about $46 million in company stock awards, a move to revive investor confidence in the face of AI disruption fears. Beyond The Brief Snapchat users are angry at a plan by the app to begin charging to store their content, Anna Boyne reports in today’s Tech In Depth. Those users, including many teenagers, have documented their lives with photos and posts on the app, which until now provided unlimited storage for those memories, 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 A series of hacks on US water facilities are expanding and continuing across several states — and experts are attributing them to an Iran-linked group, Ryan Gallagher, Marissa Newman and Lorelei Smillie report in this week’s Cyber Bulletin. The hacks exploited vulnerabilities in the country’s water systems that many have been warning about for years, they write. Sign up for the Cyber Bulletin newsletter for exclusive coverage inside the shadow world of hackers and cyber-espionage ‒ and how businesses are playing defense. Before You Go... Amazon’s Zoox to Levy Fares, in US First for Controls-Free Taxis Amazon.com Inc.’s Zoox robotaxi division will start charging fares next week in Las Vegas, marking a first in the US for autonomous vehicles without driver controls. Read more We’re improving your newsletter experience and we’d love your feedback. If something looks off, help us fine-tune your experience by reporting it here. Follow Us You received this message because you are subscribed to Bloomberg’s Tech In Brief newsletter. If a friend forwarded you this message, sign up here to get it in your inbox. Unsubscribe Bloomberg.com Contact Us Bloomberg L.P. 731 Lexington Avenue New York, NY 10022 |