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Archive for the ‘business’ category

Mar 1, 2024

The business behind Tesla opening its Supercharger network: selling ‘memberships’

Posted by in categories: business, transportation

While I believe Tesla’s move to open its Supercharger network to other automakers is ultimately going to have a great impact on EV adoption, it is also a smart business move from Tesla.

Here’s the business behind Tesla opening its Supercharger network.

Tesla, to no fault of its own, has been using its Supercharger network as a moat in the North American EV market.

Mar 1, 2024

Prof Nadeem Sarwar — Corporate VP, Co-Founder & Head, Transformational Prevention Unit, Novo Nordisk

Posted by in categories: biotech/medical, business, genetics, government, health, neuroscience

Professor Nadeem Sarwar is Corporate Vice President, Co-Founder and Head, Transformational Prevention Unit, Novo Nordisk (https://www.novonordisk.com/partnerin…), Co-Chair UK Dementia Mission (a UK Government Ministerial appointment) and Honorary Professor, University of Edinburgh Medical School.

Professor Sarwar joined Novo Nordisk in June 2023 as Corporate Vice President, Co-Founder and Head of Novo Nordisk’s new Transformational Prevention Unit (TPU) whose mission is to increase obesity-free life years, so people live healthier and longer lives. To achieve this, the TPU is establishing an integrated ecosystem that will deliver science-first, empowering, and scalable commercial solutions that predict and pre-empt obesity and its consequences through innovative partnerships, with solutions intending to push the boundaries of what is possible with drugs, genomics, microbiome, digital health, and behavioral science.

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Mar 1, 2024

Rocket City: Firefly’s growth primes sleepy Central Texas town for new business

Posted by in category: business

“We’ve solved many, if not most of the challenges, and those that we haven’t solved yet are solvable,” the company’s CEO says.

Feb 28, 2024

Photoroom, An App That Generates AI Images In One Second, Is Now Worth $500 Million

Posted by in categories: biotech/medical, business, media & arts, robotics/AI

Photoroom announced Tuesday that it has raised $43 million in Series B funding at a valuation of $500 million. London-based early-stage venture firm Balderton Capital and Aglaé Ventures, an investment firm backed by LVMH CEO Bernard Arnault and his family, led the round, with participation from Y Combinator. The new round brings the Photoroom’s total funding to $64 million. With more than 150 million app downloads and a subscription-based business model, the Paris-based startup has crossed $50 million in annual recurring revenue, according to Rouif.

Photoroom has also garnered the attention of brands like Netflix, Lionsgate and Warner Bros, who have used the startup’s API to promote films and shows including Barbie and Black Mirror. In October 2023, Photoroom partnered with Universal Music Group-owned record label, Republic Records, to create a custom selfie generator of Taylor Swift’s album 1989 that millions of fans used to create an album cover with their own faces.

Photoroom first gained traction in 2020, the same year it was accepted into Y Combinator. During the pandemic, entrepreneurs rushed to produce online catalogs of their products and without access to photographers and professional photo studios, they turned to photo editing tools like Photoroom. Before generative AI tools became mainstream, the startup’s most popular tools were a background remover tool, a tool called “magic retouch,” which removed unwanted objects from a photo as well as a feature that could blur backgrounds in two seconds. When more advanced AI tools became available in 2023, the startup expanded its offerings to include fully AI-generated backgrounds, where users could create background visuals from scratch through text prompts — now Photoroom’s most commonly used feature.

Feb 28, 2024

China issues world’s 1st legally binding verdict on copyright infringement of AI-generated images

Posted by in categories: business, internet, robotics/AI

China ruled on a case of infringement of copyright by an AI-generated service, the first effective ruling of its kind globally, which provided a judicial answer to the dilemma of whether the content generated by AI service providers infringes on copyright, media reported on Monday.

According to the 21st Century Business Herald, the Guangzhou Internet Court ruled that the an AI company had infringed the plaintiff’s copyright and adaptation rights to the Ultraman works in the process of providing generative AI services, and should bear relevant civil liability.

The protagonist of this case was the super IP Ultraman. In this case, the copyright owner of the “Ultraman” works exclusively authorized the copyright of the series images to the plaintiff, while the defendant company operated a website, providing services with AI conversation and AI-generated painting functions.

Feb 27, 2024

Lightning Never Strikes Twice? Ransomware Attackers Seen Regularly Repeating Previous Attacks

Posted by in categories: business, climatology, cybercrime/malcode

Cybersecurity company Cybereason reveals that the actual price of a ransomware attack on a business includes much more than the ransom itself.

When choosing whether to comply and pay the demanded ransom to cyber attackers, there are many different considerations to have in mind. The latest report by Cybereason reveals that only one in two victims who paid ransom actually got their data back uncorrupted, and four out of five were eventually breached again by the same attackers.

According to Cybernews, the company’s researchers went over 1,008 IT professionals who all dealt with breachers at least once in the past two years and found that 84% chose to pay the ransom, averaging $1.4 million in the US. However, only 47% got their data and services back uncorrupted, so this doesn’t appear to have been the optimal strategy.

Feb 27, 2024

Former Twitter engineers are building Particle, an AI-powered news reader

Posted by in categories: business, particle physics, robotics/AI

A team led by former Twitter engineers is rethinking how AI can be used to help people process news and information. Particle.news, which entered into private beta over the weekend, is a new startup offering a personalized, “multi-perspective” news reading experience that not only leverages AI to summarize the news, but also aims to do so in a way that fairly compensates authors and publishers — or so is the claim.

While Particle hasn’t yet shared its business model, it arrives at a time when there’s a growing concern about the impact of AI on a rapidly shrinking news ecosystem. News that is summarized by AI could limit clicks to publishers’ websites, which means their ability to monetize via advertising would also be reduced.

The startup was founded last year by former Senior Director of Product Management at Twitter, Sara Beykpour, who worked on products like Twitter Blue, Twitter Video, and conversations, and who spearheaded the experimental app, twttr. She had been at Twitter from 2015 through 2021, growing her position from software engineering to that of a senior director of product management. Her co-founder is a former senior engineer at both Twitter and Tesla, Marcel Molina.

Feb 25, 2024

Microsoft turns to NVIDIA’s competitor Intel to strike AI chip deal

Posted by in categories: business, robotics/AI, sustainability

Microsoft’s in-house chip will be Intel-approved.

Intel, one of the biggest manufacturers of semiconductor computer circuits, has secured Microsoft as a client for its custom chip manufacturing division.


Intel scores a big client in Microsoft Corp for Intel Foundry, its sustainable systems foundry business tailored for making AI chips.

Feb 23, 2024

Figure on X: “Meet Figure 01 https://t.co/mQa2b59Vju” / X

Posted by in categories: business, robotics/AI

Jeff Bezos, Nvidia Corp. and other big technology names are investing in a business that’s developing human-like robots, according to people with knowledge of the situation, part of a scramble to find new applications for artificial intelligence.

Feb 23, 2024

SentinelOne Singularity Data Lake Data Sheet

Posted by in categories: business, security, singularity

Singularity Data Lake empowers businesses to centralize and transform data into actionable intelligence for cost-effective, high-performance security and log analytics. The unified, AI-powered platform converges SIEM, XDR, and analytics solutions, creating a comprehensive security and log data ecosystem.

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