Technology Weekly News: Meta launches a Threads beta program for Android users
Meta is launching a Threads beta program for Android, offering early access to new features and bug fixes. Despite the increased risk associated with unstable builds, the beta program may appeal to users due to the platform's current lack of notable features. Users who join the program should be aware that certain data will be collected and shared with the developer. There is no waitlist for beta access, allowing anyone with an Android device to try out future builds. Threads, available on iOS and Android in 100 countries (except the EU), enable Instagram users to post updates with text, links, photos, and videos. Despite being available for only two days, Threads has already garnered attention from Twitter, with the social media company threatening legal action and accusing Meta of employee poaching, an allegation that Meta denies.
AI-generated deepfakes are becoming more sophisticated, posing a significant threat in the realm of synthetic media. A recent example involves Martin Lewis, a prominent consumer finance advocate, supposedly endorsing an investment scam backed by Elon Musk. However, the video is a deepfake, and the scam is not supported by Lewis or Musk. Lewis, who has been vocal about regulating scam ads, expressed his anger and concern about this development. Despite settling a defamation suit against Facebook, Lewis continues to fight against scam ads circulating on the platform. While Meta, Facebook's parent company, claims to remove such content and investigate the issue, the prevalence of scams highlights the ongoing challenges in regulating online ads. Lewis also criticized the U.K. government for its slow progress in addressing scam ads, emphasizing the urgent need for stronger legislation.
A Bangladeshi government website inadvertently exposed the personal information of millions of citizens, including their full names, phone numbers, email addresses, and national ID numbers. The leak was discovered by researcher Viktor Markopoulos on June 27, who promptly reported it to the Bangladeshi e-Government Computer Incident Response Team (CERT). TechCrunch verified the authenticity of the leaked data by cross-referencing it with a public search tool on the affected website. Despite the data still being accessible online, TechCrunch has yet to receive any response from the Bangladeshi government organizations regarding the incident. The leaked information poses a significant risk as it can potentially be exploited for unauthorized access and modifications.
China has imposed hefty fines on tech giants Ant Group and Tencent Holdings, with the People's Bank of China announcing penalties of 7.12 billion yuan ($984 million) for Ant and 2.99 billion yuan for Tencent. The penalties mark the conclusion of over two years of investigations into these financial technology companies. Following the news, Alibaba Group Holding and Tencent saw a surge in their stock prices, indicating investor optimism that the crackdown on the sector may be coming to an end. The fines are manageable for these companies, allowing Ant to focus on growth and potentially revive its IPO plans. The move sends a positive signal to the market, easing concerns about the regulatory environment for fintech and the broader internet sector in China. However, it remains to be seen why Tencent was also fined, as the company maintains that its financial businesses comply with the law and expects normalized regulation in the future.
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Health tech startup Neko Health, co-founded by Daniel Ek, the co-creator of Spotify, has raised €60 million ($65 million) in its first external funding round. Led by Lakestar, the Series A round also saw participation from Atomico and General Catalyst. Neko Health, founded in Sweden in 2018, focuses on preventive healthcare through AI-backed full-body scans that aid in detecting various health conditions, including cancer, cardiovascular disease, and diabetes. The company charges €250 per scan, which takes approximately 10 minutes, and offers in-person consultations to explain the results. With the fresh funding, Neko Health plans to expand its clinic network across Europe and invest in research and development, clinical studies, and recruitment.
Product engineering company HappyFunCorp, known for its work with major tech companies like Apple, Disney, Amazon, and Twitter, is set to be acquired by Canadian firm Tiny for $30 million. Tiny, a publicly traded company with a market cap of around $500 million, has been quietly acquiring businesses focused on front-end and back-end design and product services. The acquisition will allow HappyFunCorp to operate independently while working closely with Tiny. This move reflects the trend of consolidation in the tech industry, as companies seek to streamline operations and focus on future growth. The acquisition highlights the growing importance of companies that work behind the scenes to build products for tech giants, providing essential services and support. By consolidating costs and exploring near-shore models for research and development, companies aim to optimize operations and tap into talent pools in more cost-effective regions.
Google's venture capital arm, Gradient Ventures, has invested $3.2 million in German startup Weflow. Weflow aims to improve sales team efficiency, pipeline visibility, and overall Salesforce data management. The company has developed a "Revenue Workspace" platform that allows businesses to capture CRM data, gain insights, and manage their sales pipeline. Using AI, Weflow predicts deal scores and plans to leverage unstructured email data and call logs to uncover business insights. The investment from Gradient Ventures gives Weflow access to potential partners and customers. Weflow's seed round also included contributions from existing investor Cherry Ventures and other angel investors.
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