Indian central bank tightening consumer loans curb to impact startups
India’s central bank has enforced several measures to cool down high growth in consumer credit in a move that will impact consumer spending and many startups in the South Asian market, industry executives said. The Reserve Bank of India raised risk weights on unsecured personal loans, credit card, consumer durable loans by
Read moreMicrosoft’s Nadella tells Ignite audience: Industry at a ‘tipping point’
The computer industry is entering an entirely new development phase for artificial intelligence (AI), said Satya Nadella, the chief executive officer (CEO) and chairman of Microsoft Corp., in a keynote address yesterday that kicked off the company’s Ignite 2023 conference taking place this week in Seattle. “We are not just
Read moreGM absorbs commercial EV unit BrightDrop, CEO is out
BrightDrop, the commercial EV subsidiary of General Motors that launched in 2021, is being swallowed up by its parent company. GM said Thursday that BrightDrop — a “startup” that spun out of the automaker’s Global Innovation organization to become a wholly owned subsidiary — will become part of GM. BrightDrop
Read moreMicrosoft Ignite 2023: Copilot AI expansions, custom chips and all the other announcements
Microsoft’s Ignite 2023 event came with a lot of updates, and AI product reveals and expansions were front and center as the company laid out its updated vision for IT professionals. As our own Devin Coldewey wrote in October, Microsoft CEO Satya Nadella has made it clear that the company
Read moreIRL founders allege investors sabotaged company with fake users claims
The founders of IRL, Abraham Shafi and Genrikh Khachatryan, are suing their investors, claiming that they intentionally sabotaged the company. At its peak, IRL was poised to become an event organizing alternative for Gen Z, who are using Facebook less and less. Shafi, the CEO, was suspended from IRL in
Read moreTwitch launches Privacy Center to educate users about their personal data
In the name of transparency and accessibility, Twitch launched its new Privacy Center to educate users, after conducting “extensive research” and finding that many of its users had no idea how their personal data is collected and used. The Privacy Center, which launched on Thursday, is designed to provide “clear,
Read moreCybersecurity investor Ballistic Ventures seeks $300M for new fund
Ballistic Ventures, a venture capital firm dedicated to funding and incubating cybersecurity startups, is looking to raise as much as $300 million for a new fund, according to a regulatory filing. The San Francisco-based VC firm Wednesday filed with the U.S. Securities and Exchange Commission to raise $300 million for
Read moreX rival Bluesky hits 2M users, says federation coming ‘early next year’
Bluesky, the company building a decentralized alternative to Twitter/X, announced today it has hit 2 million users — up by another million since September, despite remaining an invite-only app. It also revealed its timeframe regarding other key goals, indicating that it planned to have a public web interface go live
Read moreIBM pulls X ads as Elon Musk endorses white pride
Photo credit should read ROBYN BECK/AFP via Getty Images IBM has pulled its advertising presence from X, formerly Twitter, as Elon Musk continues to endorse far-right talking points — agreeing with posts this week that promoted antisemitism and pushed support for white pride. The nonprofit Media Matters drew attention to
Read moreFrance’s Mistral dials up call for EU AI rules to fix rules for apps, not model makers
Divisions over how to set rules for applying artificial intelligence are complicating talks between European Union lawmakers trying to secure a political deal on draft legislation in the next few weeks, as we reported earlier this week. Key among the contested issues is how the law should approach upstream AI
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