Title: The Week in Technology: Netflix, IRL Social App, Flipper Hacking Device, and More
Introduction:
Welcome to the Week in Review (WiR), TechCrunch’s regular roundup of the latest week in technology. In this edition, we’ll cover a range of topics, including Netflix removing its basic plan in Canada, the demise of the IRL social app due to fake users, the success of the Flipper hacking device, Lenovo’s innovative dual-screen laptop, Robinhood’s acquisition of a credit card startup, Shein’s image troubles, Databricks’ acquisition of MosaicML, and ChatGPT’s integration with Bing search. Let’s dive in!
I. Netflix Simplifies Offering in Canada by Removing Basic Plan
Netflix quietly removed its basic $9.99 CAD per month plan in Canada for new subscribers. While this move simplifies the streaming company’s offerings, it leaves a noticeable gap between the ad-supported plan and the standard plan. The decision could potentially drive new subscribers to opt for the more expensive plan, resulting in increased revenue for Netflix.
II. Unicorn Social App IRL Shuts Down Due to Fake Users
The internal investigation carried out by the IRL board of directors revealed that 95% of the reported 20 million users of the app were either automated or bots. Despite raising over $200 million in venture capital, IRL has decided to shut down. This case serves as a reminder of the challenges faced by social apps in ensuring genuine user engagement and combating fraudulent activities.
III. Lenovo’s Yoga Book 9i: A Dual-Screen Laptop That Works
Lenovo’s Yoga Book 9i, showcased at CES earlier this year, attracted both appreciation and skepticism with its unique dual-screen design. Featuring two 13-inch OLED displays connected by a central hinge, this laptop represents a departure from conventional designs. According to Darrell, the Yoga Book 9i successfully proves that the dual-screen paradigm can work exceptionally well for many people.
IV. Flipper Hacking Device: A Resounding Success
The Flipper Zero Hacking Device has gained significant attention for its capabilities to manipulate various systems, including RFID card systems, remote keyless systems, key fobs, and entry barriers. The company anticipates selling $80 million worth of products this year, building on the success of its Kickstarter pre-orders, which generated almost $5 million in sales. In 2020 alone, the company claims to have sold $25 million worth of devices.
V. Robinhood Acquires Credit Card Startup X1
Popular trading platform Robinhood announced its acquisition of credit card startup X1 for $95 million in cash. X1 provides an income-based credit card with rewards and had secured $62 million in venture-backed funding prior to the acquisition. This move signifies Robinhood’s expansion into the credit card space and its continued efforts to diversify its offerings beyond stock trading.
VI. Shein Faces Image Troubles Ahead of Potential IPO
As Shein, an e-commerce platform, considers an initial public offering, the company faces the challenge of reshaping its image. Accusations range from stealing the work of independent designers to violating local labor laws. In an attempt to improve its reputation, Shein invited influencers to tour its factory in China, but critics argue that the visit was a highly curated brand journey designed to present a favorable image of the company.
VII. Databricks Acquires MosaicML for $1.3 Billion
Databricks, a big data analytics platform, announced its $1.3 billion acquisition of MosaicML, an open-source startup specializing in neural networks. MosaicML’s platform enables organizations to train large language models and implement generative artificial intelligence tools. With previous funding of around $64 million, MosaicML has attracted investments from prominent investors such as Atlas, Playground Global, and Samsung Next.
VIII. ChatGPT’s Integration with Bing Allows Web Browsing
OpenAI’s premium chatbot, ChatGPT Plus, now offers a feature called Browse, which allows users to search for answers on Bing. Despite the limitation of using Bing as the search engine, this integration enhances the user experience by enabling the bot to fetch information from the web. The move further expands the capabilities of AI-powered chatbots for users.
Additional Piece: The Evolving Landscape of Technology and its Impact
Technology continues to reshape the world, with new developments and innovations emerging every week. From advancements in streaming services to the integration of AI-powered chatbots, the pace of change in the tech industry is relentless. Let’s further explore some key trends and insights related to the articles covered in this Week in Review:
1. The Streaming Wars: Netflix’s decision to eliminate its basic plan in Canada highlights the ongoing competition among streaming platforms. As companies vie for subscribers, they are constantly refining their offerings to capture market share. With a range of different plans available, consumers now have more choices than ever before when it comes to streaming their favorite content.
2. The Battle Against Fake Users: The demise of the IRL social app serves as a cautionary tale for developers looking to build user-driven platforms. The prevalence of automated accounts and bots poses a considerable challenge, leading to questions of authenticity and trustworthiness in the digital landscape. App developers must invest in robust systems and protocols to weed out fake users and foster genuine interactions.
3. Unique Design Innovations: Lenovo’s dual-screen laptop, the Yoga Book 9i, represents a departure from traditional laptop designs. The success and positive reception this device has received highlight the potential for innovative form factors in the tech industry. As manufacturers strive for differentiation and user engagement, unconventional designs that challenge the status quo may gain traction among consumers.
4. Security and Ethical Considerations: The popularity of the Flipper hacking device raises concerns about security vulnerabilities and the potential misuse of such tools. As technology becomes increasingly intertwined with everyday life, addressing these ethical and security considerations becomes paramount. Striking a balance between convenience and maintaining robust security measures is crucial to ensure the responsible use of advanced devices.
5. Diversification of Fintech Offerings: Robinhood’s acquisition of X1 reflects the company’s efforts to expand into new sectors within the fintech space. By acquiring a credit card startup, Robinhood aims to broaden its range of financial products and services, providing users with a more comprehensive and integrated offering. This trend highlights the increasing convergence of various financial products and platforms.
Conclusion:
This Week in Review has showcased the dynamic nature of the technology industry, with developments ranging from streaming service changes to disruptive device designs and acquisitions within the fintech realm. As technology continues to evolve, it is essential to stay informed about the latest trends, insights, and challenges shaping the industry. By understanding these developments, individuals and businesses can harness the power of technology to drive innovation and navigate the ever-changing landscape effectively.
Summary:
– Netflix removes basic plan in Canada, streamlining its offerings
– IRL social app shuts down due to the prevalence of fake users
– Lenovo’s dual-screen laptop proves successful with consumers
– Flipper hacking device achieves significant sales
– Robinhood acquires credit card startup X1 to diversify its offerings
– Shein faces image troubles ahead of a potential IPO
– Databricks acquires MosaicML, an open-source startup specializing in neural networks
– ChatGPT integrates with Bing, enabling web browsing capabilities for users
Additional Piece: The Evolving Landscape of Technology and its Impact:
– Streaming wars, the battle against fake users, unique design innovations, security and ethical considerations, and the diversification of fintech offerings.
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It’s that time of the week again, folks. Welcome to Week in Review (WiR), TechCrunch’s regular roundup of the latest week in technology. New here? It’s not to worry- sign up here to get WiR delivered to your inbox every Saturday, then read on for the week’s roundup.
This week, we’re covering Netflix silent removing its basic plan in Canada, the IRL social app Turning off after most of its users were found to be fake and the blockbuster sales of the Flipper hacking device. Also in store, TC has a report on Lenovo’s Yoga Book 9i dual screen laptopthe next DeepMind chatbot for rival ChatGPT and Robinhood acquiring a start up credit card. Phew.
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Basic Netflix hub plan, in Canada: Netflix has quietly removed the basic $9.99 CAD per month plan in Canada for new subscribers. This simplifies the streaming company’s offering, but leaves a big gap between the ad-supported plan and the standard plan, Ivan writes.
A unicorn social app closes: Ironically, the social app real lifeUsers do not exist in real life. An internal investigation by the IRL board of directors found that 95% of the app’s reported 20 million users were either automated or bots. So after raising over $200 million in venture capital, IRL is shutting down.
A portable, but double: Lenovo’s Yoga Book 9i drew both appreciative and skeptical looks at CES earlier this year when it made its official debut. With two 13-inch OLED displays joined with a central hinge, it’s one of the most unusual laptop designs to ever make it to actual production. And, according to Darrell, it’s the first to prove that the dual-screen paradigm can work, and works very well, for many people.
Flipper is selling like hot cakes: You may have come across the Flipper Zero Hacking Device that’s been doing the rounds, which includes a ton of ways to manipulate the world around you, including RFID card systems, remote keyless systems, key fobs, entry barriers, and more. The company says it is on track to sell $80 million worth of products this year after selling almost $5 million in Kickstarter pre-orders – and claims it sold $25 million worth of devices last year.
Robinhood Acquires X1: Robinhood announced Thursday that it would acquire the no-fee credit card startup. X1 for $95 million in cash. Offering an income-based credit card with rewards, X1 has raised a total of $62 million in venture-backed funding from investors including Soma Capital, FPV, Craft Ventures and Spark Capital since its inception in 2020.
Shein’s trick goes wrong: As Shein contemplates an initial public offering, the company’s image needs a serious makeover. From stealing the work of independent designers to violating local labor laws, Shein has gone all the way on social media, so the company invited a group of influencers to tour one of its factories in Guangzhou, China. Critics point out that it was a highly curated brand journey in which influencers were offered travel opportunities and free giveaways, encouraging them to promote a favorable image of the company.
Databricks acquires MosaicML: This week, Databricks Announced that it will pay $1.3 billion to acquire MosaicML, an open-source startup with expertise in neural networks that created a platform for organizations to train large language models and implement generative artificial intelligence tools based on them. Prior to that, MosaicML had raised just under $64 million from investors including Atlas, Playground Global, and Samsung Next.
ChatGPT gets Bing: ChatGPT on mobile you can now browse the web. But only through Bing, for better or worse. This week, OpenAI Announced that subscribers of ChatGPT Plus, the premium version of the company’s AI-powered chatbot, can use a new feature in the ChatGPT app called Browse that allows users to use ChatGPT to search for answers to questions on Bing.
Audio
Are you looking for a podcast to pass the hours? You have come to the right place. TC has you covered.
In Equity, the team started with the recent funding from Honey Homes and Gusto’s partnership with Remote; then they dove deep into the latest wave of M&A, from Visa’s purchase of Pismo to Databricks’ deal with MosaicML.
Meanwhile, Found introduced the founders of Spout, a startup that makes a device that can extract fresh drinking water from the air.
About Chain reactionThis week’s episode welcomed Jack Lu, Co-Founder and CEO of NFT Magic Eden Market, to discuss the state of the crypto market.
AND The TechCrunch podcast covered Shein by inviting several fashion influencers to its facility in China. The Internet did not take kindly to the trick.
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TC+ subscribers get access to detailed feedback, analysis and surveys, which you know about if you’re already a subscriber. If you’re not here consider signing up. Here are some highlights from this week:
M&A is back: It’s been a quiet year when it comes to tech M&A. But all of a sudden this week, it’s like the M&A floodgates finally open and we start to see some movement.
Big Tech Embraces Generative AI: As the race to create generative AI tools for the enterprise turns into a free-for-all, Big Tech companies are busy wielding their most powerful weapons: checkbooks. Will the trend continue? That is an open question.
When companies have more influence than countries: According to the CIA World Fact BookIf Apple were a country, its revenue would be number 50 on the list of countries ranked by GDP. Although it would lag behind the United States, France and Egypt, as a country, Apple would produce more wealth than Norway, Portugal or Greece, and only slightly less than Hong Kong, Peru or Israel. Should it be this way? Haje explore.
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Netflix axes its basic plan in Canada, IRL shuts down and Shein’s influencer stunt backfires
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