Techkudi Fintech News Roundup: Musk Sues Law Firm, Goldman Sachs Considers Apple Exit, Spotify Adds Music Videos, ChatGPT Faces Low User Traffic, OpenAI Releases GPT-4″
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Welcome to the first edition of our global tech news roundup. The tech space has been abuzz with noteworthy events and developments, particularly for social media users who have found themselves navigating new territories due to recent changes. Let’s dive into the latest highlights.
Here is a summary of the bulletin:
- Elon Musk sues law firm that defeated its bid to walkout on Twitter bid
- Goldman Sachs eyeing an exit from the Apple partnership
- Spotify looking to add full-length music videos to its app
- ChatGPT facing low user traffic
OpenAI makes GPT-4 generally available
1. Elon Musk’s Twitter Policy and Threads by Instagram
Elon Musk made waves this week with a new Twitter policy that limits the number of daily views users can see. Musk encouraged users to spend more time with their loved ones instead of fixating on the platform. This move sparked a series of ripple effects, one of which was the launch of Threads by Instagram, a microblogging platform seamlessly integrated with Instagram. Reports indicate that Threads has already attracted over 30 million registered users since its launch.
Elon Musk’s Twitter Policy and Threads by Instagram
Musk’s Lawsuits and Accusations: Elon Musk didn’t stop at the Twitter policy. He also took shots at the app and accused Meta (formerly Facebook) of cheating and stealing data and intellectual property. In response, Twitter threatened legal action against Meta, claiming that the social media giant poached former employees to create a “copycat” application. Additionally, Musk has sued the law firm Wachtell, Lipton, Rosen & Katz to recover a significant portion of the $90 million fee they received from Twitter. This fee was awarded to the law firm for defeating Musk’s bid to walk away from the $44 billion buyout of Twitter.
2. Goldman Sachs Contemplating Apple Partnership Exit
Goldman Sachs is reportedly considering an exit from its partnership with Apple. The financial institution currently offers the Apple Card credit card in collaboration with Apple. However, Goldman Sachs is evaluating its options and may decide to terminate the partnership. The move comes after Goldman Sachs revealed losses of over $1 billion on the Apple Card deal.
3. Spotify to Introduce Full-Length Music Videos
Spotify is exploring the addition of full-length music videos to its app. This enhancement aims to provide users with a more immersive experience and allows Spotify to compete with platforms like TikTok and YouTube. Spotify has already initiated talks with partners to discuss the implementation of this feature, targeting Gen Z audiences and expanding beyond short-form videos.
4. ChatGPT Faces Decreased User Traffic
Analytics firm Similarweb has reported a decline in monthly visits and unique visitors to the ChatGPT website. ChatGPT, an AI chatbot, experienced a decrease in traffic for the first time in June. This decrease indicates a waning novelty effect, as users’ interest in the platform has declined. However, there is still demand for generative AI models with real-time information.
5. OpenAI Releases GPT-4
OpenAI has made its latest text-generating model, GPT-4, generally available through its API. GPT-4 offers improved capabilities over its predecessor, GPT-3.5, including the ability to generate text, accept image and text inputs, and perform at a “human level” on professional and academic benchmarks. OpenAI plans to allow developers to fine-tune GPT-4 and its other models with their data, enhancing customization options.
That concludes our tech news roundup. Stay tuned for more updates.
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