Our weekly tech newsletter. Subscribe today on our blog.
Quick Hits
The new DWI: The acronym most commonly associated with “driving while intoxicated” is taking on a new meaning for VR fans on the go: “driving while immersed."
Not chill: Netflix cracks down on password sharing, creates new “paid sharing” option.
AI in ads: Google gives a glimpse of the future with new AI-driven advertising.
Red Hat learning: IBM’s Red Hat expands with new AI offerings announced at the Red Hat Summit.
Who’s spying: Oracle is reviewing TikTok's source code for vulnerabilities after allegations of espionage.
Rally cry
During this week’s Build conference, Microsoft unveiled initiatives to help developers build AI. CTO Kevin Scott stole the show with his rallying cry for developers in his keynote speech. “We have capabilities in our hands with these new tools in the early days of this new platform to absolutely do amazing things,” he said. “Literally, the challenge for you all is to go do some legendary sh*t so that someone will be in awe of you one day.”
Chips ahoy!
U.S.-based chip makers have plenty to celebrate this week. Applied Materials announced plans for a $4B research facility near Santa Clara, Calif., accessible to chip makers and universities. It’s the first semiconductor project of its size in Silicon Valley in decades. The company is betting on nearby tech talent to spur innovation and offset added labor costs. Also this week, Apple announced a new multibillion-dollar deal with Broadcom to develop 5G radio frequency components in the U.S. Meanwhile, Silicon Valley chip startup Ayar Labs raised another $25M, citing soaring demand for faster, more energy efficient computing for AI applications.
AI vs. VC Rolodex
U.K.-based venture firm Moonfire is touting a new weapon in its arsenal: artificial intelligence. The firm will use AI to pick early stage tech companies in finance, gaming, and healthcare for its new $115M fund. “It’s ridiculous to think ‘Hey, I know a few people, I have a big network of people, and therefore I’m going to have the best insights to the best companies in my specific domain,’” firm founder Mattias Ljungman told Fortune.
Challenging but essential
Employees at music streaming platform SoundCloud face another round of layoffs. The company laid off 8% of its staff, following a larger reduction last fall. “This is a challenging but essential decision,” CEO Eliah Seton wrote to staff. “We are securing the company’s future for the millions of artists who rely on us for their living and their self-expression.”
Low-code on the rise
Low-code app building is hot with developers and investors alike. Microsoft-backed Builder.ai recently raised a $250M Series D from the Qatar Investment Authority (QIA) and others to build out its simply app building tools. The company offers a platform for businesses to create custom smartphone apps while requiring little or no coding and also offers its own dev team for support.
The Weekly Pulse
Shortened workweek gains traction
The vast majority of companies and organizations still operate on a five-day workweek, but some advocacy groups are pushing through pilots for a 32-hour, four-day workweek without decreasing pay. Hurdles including concerns about staffing, lower productivity, increased costs and complex changes to operations are keeping the shortened workweek from being widely adopted. Earlier this year, a California lawmaker reintroduced a bill to reduce the workweek by eight hours; and other efforts are underway.
Tweet of the Week
What We’re Reading
- Workers want a four-day week. Why hasn’t it happened? (New York Times)
- Adobe to integrate AI into Photoshop amid fears of job losses and mass faking of images (The Guardian)
- Uber suspends diversity chief over ‘Don’t Call Me Karen’ events (The Guardian)
- BuzzFeed Tries to Ride the A.I. Wave. Who’s Hungry? (New York Times)
- ByteDance Co-Founder Sets Up New Venture Firm in Hong Kong (Bloomberg)
- Everything you need to know about the wild world of alternative jet fuels (MIT)
Companies in the News
Seattle-based Groopit, a “#crowdsolving” (they coined it) SaaS startup, raised $3.5M led by West River Group. They’re hiring software engineers.
Seattle-based Glowforge, a 3D printing startup, raised a $20M Series E led by DFJ Growth. They’re hiring for a variety of roles.
Chicago-based Obie, an insurance tech startup, raised a $25M Series B led by Battery Ventures. They’re hiring software engineers, program managers, and sales people.
Toronto-based Peak Power, a clean tech company that helps building owners and other optimize distributed energy resources, raised $35M led by Greenbacker Capital Management. They’re hiring Java software engineers.
Los Angeles-based BuildOps, a cloud based SaaS provider for commercial real estate, raised $50M led by Fika Ventures. They’re hiring full-stack engineers, front-end developers, and mobile software engineers.
Startups hiring now
- Method Financial: Revenue Data Platform for Go To Market Teams | 6 open roles
- Unit21: The Only Way To Agency | 6 open roles
- Arbol: Digital Infrastructure Inc | 5 open roles