CarTrade Buys OLX 💰, Foxconn Quits India 🚨, Sarah Silverman Suing 🤦‍♀️

Catch up on the latest in tech, business and startups - all in 5 minutes. [Newsletter Banner] Daily News Roundup Welcome to today's edition of the NextBigWhat Daily News! Today's top stories include CarTrade Tech buying OLX India, Foxconn abandoning a project in India, and Sarah Silverman suing OpenAI. 🤔 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( Microsoft announces more layoffs following an earlier 10,000 job cut this year 🌎 GlobalTech - The latest layoffs are in addition to the 10,000 job cuts Microsoft made in January. - Microsoft has not specified the total number of jobs affected, although 276 roles are being eliminated in Washington. - Changes in hardware lineup, lease consolidation, and increased customer desire to save on cloud computing bills drove this decision. CarTrade Tech to Purchase OLX India’s Auto Sales Business for Rs 537 cr 🇮🇳 IndiaTech - CarTrade Tech will acquire the entire stake in Sobek Auto India, OLX India’s auto business entity, in an all-cash deal. - The acquisition will be completed within 21-30 days and Sobek Auto India runs an automotive digital platform and classifieds internet business. - This follows Prosus-owned OLX’s decision to shut down OLX Autos in several regions, including Argentina and Mexico, and lay off 800 employees due to poor macroeconomic conditions. Power: Why Some People Have It―and Others Don't [NBW Newsletter Ad]( Power is the Currency of the Workplace. Learn how to use it! AtomicIdeas from the book Power by Jeffrey Pfeffer. [Get it]( Snapchat Incorporates Linktree-in-Bio Feature for Public Account Owners 🌎 GlobalTech - Snapchat and Linktree partner to bring the popular service to Snapchat profiles, providing a way to add multiple links to profiles. - Snapchat users can now include a Linktree or a single URL by editing their profiles; Linktree offers added features like data analytics, direct merchandise selling, animated backgrounds, and more with its Pro version. Tumblr Plans TikTok-Inspired Overhaul to Increase User Base 🌎 GlobalTech - Tumblr revealed plans for a platform revamp comprising algorithmic content recommendations and improved creator features. - The revamp aims to make the platform easier to use, drive content engagement, and assist new creators in gaining visibility. - Tumblr’s parent company Automattic has also released subscription and other paid features to re-energize the platform. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( IPL brand value jumps 80% to $3.2 billion in 2023 🇮🇳 IndiaTech - Houlihan Lokey’s inaugural report details the IPL’s brand value increase from $1.8 billion in 2022 to $3.2 billion in 2023. - A key driver was the 2023–2027 media rights deal with Viacom18 and Disney Star, which also propelled IPL’s business enterprise value to $15.4 billion. - CSK top brand and business value rankings, RCB second in brand value, and RR saw the highest year-on-year brand value increase at 103%. Linda Yaccarino announces record Twitterr usage day 🌎 GlobalTech - Twitter CEO, Linda Yaccarino announced a record usage day last week, an announcement backed by Elon Musk’s predictions of hitting an all-time high in user engagement. - This follows the rapid growth of Meta Platforms’ Twitter rival, Threads, which amassed 100 million users within five days of its launch. - Elon Musk has criticized Threads and Meta’s Mark Zuckerberg, leading to a lawsuit accusing Meta of Twitter’s intellectual property infringement. Netflix Develops a New Green Screen Technique With Machine Learning 🤖 AI - Netflix researchers have experimented with a new ‘Magenta Green Screen’ technique that utilizes machine learning for improved compositing in filmmaking. - The technique lights the actors with a mix of red and blue light, with a bright green background, which simplifies the process of separating the foreground from the background. - This innovative method has some limitations, such as unusual on-set lighting conditions and complexities in restoring the green channel, however, the approach yields highly accurate results and could be of future value in media production. AI Detection Programs Erroneously Identify Non-Native English Text as AI-Generated 🤖 AI - AI detectors tend to incorrectly identify writing of non-native English speakers as AI-generated over half the time, reveals a study published in the journal Patterns. - The AI detection tools, designed to separate AI-created text from human-written content, are reproducing human biases, causing misattribution and discrimination against non-native English writers. Foxconn’s Withdrawal from Joint Venture Doesn’t Affect India’s Semiconductor Goals: MoS IT 🇮🇳 IndiaTech - The $19.5 billion semiconductor joint venture between Taiwan’s Foxconn and India’s Vedanta falling through won’t impact India’s semiconductor fab objectives, says MoS IT Rajeev Chandrashekhar. - Foxconn and Vedanta had originally signed a pact to establish semiconductor and display production plants in Prime Minister Modi’s home state of Gujarat, at a cost of Rs 1.54 lakh crore. Foxconn Abandons Major $19.5 Billion Chip Project in India 🇮🇳 IndiaTech - Foxconn, a key Apple supplier, has retracted its involvement in a $19.5 billion joint venture in Indian semiconductor and display manufacturing. - The collapse of this proposal prompts a setback to India’s aspirations of becoming a global hub for high-tech manufacturing, aligning with Prime Minister Narendra Modi’s vision. - Despite this decision, Foxconn continues to build multiple factory sites across India. Comedian Sarah Silverman and Authors Sue Meta and OpenAI for Copyright Violation 🤖 AI - Sarah Silverman, Richard Kadrey, and Christopher Golden claim Meta Platforms and AI company OpenAI used their copyrighted content without consent to train AI programs. - The lawsuits raise concerns about legal implications for chat bot developers using copyrighted material. - Meta and Microsoft-backed OpenAI have not yet responded to the allegations. Paytm Founder Voices Concerns about Superintelligent AI, OpenAI Seeks Ways to Control It 🤖 AI - Paytm founder, Sharma, voiced concerns on Twitter about the potential ‘disempowerment of humanity’ due to rapidly advancing superintelligent AI technology. - OpenAI, backed by Microsoft, is investing extensively in a new research team focusing on ‘alignment research’ to ensure AI remains beneficial, dedicating 20% of its compute power over the next 4 years to this initiative. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](