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| 1 | | Amazon is reportedly exploring the idea of offering affordable or free mobile phone service to its Prime subscribers in the U.S. More: - Amazon aims to provide wireless plans for $10 per month or less to its members, sources told Bloomberg.
- The company could become a reseller or MVNO, allowing it to set its own pricing structure.
- Earlier reports suggested that Dish was considering offering wireless plans through Amazon.
- Following the news, AT&T, Verizon, and T-Mobile saw a 4% or greater decrease in morning trading, while Amazon's stock rose by around 2%.
- An Amazon spokesperson said the company is constantly exploring new benefits for Prime members but has no current plans for wireless services.
Zoom out: - Amazon's possible entry into mobile phone services could boost loyalty among its Prime members as it faces increased competition from Walmart+.
- Likewise, the move could address an apparent slowdown in Prime subscriptions. Consumer Intelligence Research Partners estimates that Prime had 168 million subscribers at the end of 2022, down from 170 million the year before, which is the first time ever that the service didn't see annual growth.
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| 2 | | The news: Apple's App Store facilitated an estimated $1.1 trillion in developer billings and sales in 2022, up 29% from the year before, according to an Apple-sponsored study conducted by Analysis Group. The figures include money from in-app advertising, apps and subscriptions, and physical goods and services, with the latter covering mobile commerce like retail, ride-hailing, and travel, along with digital payments conducted through the App Store. What the numbers say: The study emphasizes that more than 90% of billings and sales went to developers alone, with Apple not taking a commission of 15% to 30%. Of the $1.1 trillion total, in-app advertising contributed $109B, digital goods and services accounted for $104B, and $910B came from sales of physical goods and services. Since the App Store launched in 2008, iOS developers have also earned a total of $320B, up from the previously reported $260B in 2021. Apple also highlighted that small developers saw 71% earnings growth between 2020 and 2022, surpassing larger app developers. Quotable: "As this report shows, the App Store is a vibrant, innovative marketplace where opportunity thrives," Chief Executive Officer Tim Cook said in a statement. Why it matters: While the study downplays the notable high costs of doing business on the platform, it does break down the data of Apple's ecosystem and shows the continued growth of the App Store. The figures have grown significantly since the marketplace facilitated $519B in commerce in 2019, with $61B coming from digital goods and services. The study emphasizes the popular and expanding app categories, specifically noting a significant rise in travel sales (84%) and ride-hailing apps (45%). | | |
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| 3 | | Meta says it may remove news content from Facebook and Instagram in California if the state passes a bill that would force tech companies to pay a fee for news. The company made a similar threat over U.S. federal legislation attempted last year and is now blocking some news content in Canada as part of a test over a similar proposal. More: - California's Journalism Preservation Act would require digital companies to pay a journalism usage fee to news publishers, with 70% of the profits dedicated to journalism jobs in the state.
- While the bill aims to support the struggling local news industry, a Meta claims that it benefits out-of-state media companies instead of California publishers.
- A spokesperson, Andy Stone, argued that publishers voluntarily share their content on their platforms, and the consolidation in California's local news industry predates Facebook's widespread use.
- California State Assemblymember Buffy Wicks, the bill's sponsor, dismissed Meta's threat as a scare tactic that has failed in other countries.
Related: - In 2021, Australia passed a similar law that resulted in a brief shutdown of Facebook's news feeds in the country.
- Eventually, agreements were reached after amendments were made to the legislation. A government report later confirmed the law's effectiveness.
- On Thursday, Meta announced plans to test blocking news content for a small percentage of users in Canada in response to the proposed Online News Act, which is similar to California's proposed legislation.
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| 4 | | Twitter's head of trust and safety, Ella Irwin, has stepped down, leaving the platform without a content moderation executive, Reuters reports. After Elon Musk acquired the platform, Irwin assumed the position, replacing Yoel Roth who resigned in November. More: - Irwin declined to comment on her departure. According to the WSJ, she has publicly defended the company's content-moderation actions since Musk took over.
- In April, she tweeted that employees had been "working hard to develop a balanced approach to free speech and keeping people safe from ongoing, repeated harassment."
- Under Musk's leadership, the company has drastically reduced costs, resulting in the layoffs of thousands of employees including those working on content moderation.
- Musk recently appointed Linda Yaccarino, former NBCUniversal advertising chief, to replace him as Twitter's CEO.
Zoom out: - Twitter recently pulled out of a voluntary agreement with the European Union aimed at combating disinformation.
- However, the platform said it's committed to adhering to forthcoming internet regulations in the EU.
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| 5 | | According to investment firm Morgan Stanley, Apple's highly anticipated AR/VR headset is set to go into mass production in October and release to consumers by December. Apple is expected to reveal the headset at its WWDC event on Monday. More: - Availability of the headset is anticipated before the holiday season, according to Erik Woodring, an Apple analyst at Morgan Stanley.
- Woodring added that Apple's supply chain aims to manufacture a conservative 300,000 to 500,000 units this year.
- Confirming previous rumors, he said the headset's starting price could be around $3,000.
- Woodring expects the gross margins will be low, with Apple initially having limited profitability from the device.
Zoom out: - At WWDC, Apple could offer tools for developers to start building apps for the headset, which will have its own dedicated App Store.
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| 6 | | Volkswagen revealed the North American version of its electric van, the ID. Buzz. The retro-style van, a modern version of the iconic Microbus, is expected to arrive in the U.S. in June 2024. The exact EPA range hasn't been disclosed yet. More: - The ID. Buzz pays homage to the Volkswagen T1, known as the Microbus or VW Bus, which was popularized by the hippie movement in the 1960s and 1970s.
- The new model for the North American market has three rows of seats for more passenger and cargo space while maintaining the Microbus' retro-futuristic design.
- The base version will be rear-wheel-drive with an electric motor capable of 282 horsepower. An all-wheel-drive variant with around 330 horsepower will also be available
- VW hasn't disclosed the pricing yet. In the U.K., the closest comparable model, the two-row Buzz Style, is priced at £63,715 ($79,240) including tax.
Source: Volkswagen | | |
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- Broadcom CEO Hock Tan predicts increased demand for the company's chips due to generative AI applications. The chip maker's revenue forecast surpassed expectations for the upcoming July quarter.
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Term of the Day Vesting: Vesting is the process of granting employees the right to keep employee-provided benefits, such as stock options, after a specified period of time. Read More Question of the Week Should companies take steps to avoid employee burnout, or should it be the individual's responsibility to manage it themselves? Join the conversation |
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| | Beth Duckett AI and technology writer | | Beth is a writer and editor at Inside.com covering artificial intelligence and daily technology news. She has written the Inside AI newsletter since 2019. You can reach her at [email protected]. | | This newsletter was edited by Eduardo Garcia |
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