It has never been easier to take on the big boys, says Alexandr Wang. Speaking at a Y Combinator event, the founder of Scale AI, who now runs Meta’s superintelligence labs, said AI has been a game-changer for startups. “It’s probably a once-in-a-civilization opportunity to be a dreamer and have a vision and ambition and
If you can’t seem to get out of your Instagram scroll, it’s no accident. During Meta’s second-quarter earnings call on Wednesday, CEO Mark Zuckerberg said global time Spending on Instagram grew by double digits year-over-year this quarter, “largely driven by improvements to our Reels feed and recommendations.” “Our recommendations are also becoming more personalized, showing
Whatnot is proving that there is still room for consumer startups in the age of AI. Live shopping startup Whatnot is in talks to raise financing at a valuation of about $20 billion, according to people familiar with the matter. This would be a significant jump from the $11.5 billion valuation at which the company
Meta’s AI strategy once again worries investors. Shares of the social media giant fell 10% on Wednesday after revealing that its capital spending growth far outpaced revenue growth. Meta has a central problem: much of this spending still has no financial return. About 98% of Meta’s revenue still comes from its traditional advertising business, according
Microsoft kept its capital spending forecast unchanged on Wednesday, becoming one of the first data center giants to maintain control of the industry’s rampant AI spending. Shares rose about 8% on the news. Earlier this year, the company said it planned to spend $190 billion on capital expenditures this calendar year. On Wednesday’s earnings call,
Many Americans are very concerned about AI. Can Mark Zuckerberg change his mind? That’s what Meta’s CEO is trying to do, through a persuasion campaign: Last week, the company released an ad, set to a David Bowie song, telling viewers to ignore “some people” who don’t like AI. Zuckerberg followed up a Wall Street Journal
