Meta’s metaverse wager is also a bet on founder control

Meta’s other bet is making Alphabet’s long-running Other Bets segment appear cheap, both in cash and market cap terms. Shares of Facebook’s parent company plummeted after the company reported huge costs and losses associated with its future-facing metaverse project, accompanied by a revenue decline that, while forex-impacted, was still far from the heady days when…

Google acquires Twitter-backed AI avatar startup Alter for $100 million

Google has acquired Alter, an artificial intelligence (AI) avatar startup that helps creators and brands express their virtual identity, for about $100 million, a source familiar with the matter told TechCrunch, in a push to boost its content game and better compete with TikTok. The acquisition was completed about two months ago, the source said,…

The Tesla Cyberquad for Kids is being recalled over safety concerns

The Tesla Cyberquad for Kids, a $1,900 mini ATV inspired by the yet-to-be produced Cybertruck, is being recalled due to safety concerns flagged by the Consumer Product Safety Commission. Radio Flyer, which makes the Cyberquad for Tesla, is handling the recall. About 5,000 units have been sold, per the CPSC. Consumers will receive full refunds…

YouTube’s ad revenue is declining, but creator economy experts aren’t worried

The social platforms that power the creator economy might seem like they’re starting to slip. YouTube’s quarterly ad revenue declined 1.9% year over year, per Google parent company Alphabet’s quarterly earnings report this week. Overall, Alphabet missed analyst estimates, earning $69.1 billion in revenue, about a billion dollars less than expected. For many YouTubers, ad…

Uber to freeze fake rider account names, pilot front-facing video recording

Uber is releasing a suite of new safety features geared towards the driver, including freezing fake rider account names and piloting a front-facing video recording tool to replace a driver’s dashcam. The safety features follow a feedback period from drivers that Uber began this summer. It looks like drivers have been having a hard time…

This huge typosquatting campaign is being used to run tech support scams

A large typosquatting campaign has been detected abusing Amazon’s AWS cloud platform to lure people into tech support scams.  After being tipped off by an actual computer technician working at a local shop, researchers at Malwarebytes discovered a “big typosquatting campaign” that started roughly a month ago. The campaign is quite dangerous, too, as victims…

Stocks may be set up for ‘amazingly strong’ results as Fed uncertainty eases and investor sentiment improves, Leuthold Group’s Jim Paulsen says

Spencer Platt/Getty Images Market sentiment and uncertainty over Fed policy is set to improve next year, which could give a boost to stocks, Jim Paulsen said. Uncertainty is higher than 82% of the time since 1987, and market bullishness is nearing a record low. When those indicators improve in tandem, stocks see “amazingly strong” performance,…