Tech Meme

Austin Weinstein / Bloomberg: Lyft agrees to pay $10M over the US SEC’s claims the company didn’t disclose a board director got millions to arrange a pre-IPO sale of $424M in private shares  —  – SEC says company didn’t properly disclose details of sale  — Lyft investor sold private stake for $424 million, SEC says Lees verder op Tech Meme

Emma Roth / The Verge: Microsoft CPO Panos Panay is leaving after 19 years, ahead of the September 21 Surface event; consumer marketing chief Yusuf Mehdi will lead Windows and Surface  —  Panos Panay, the chief product officer at Microsoft, leading Windows development and the company’s Surface line, is leaving Microsoft. Lees verder op Tech Meme

Nicholas Megaw / Financial Times: Analysis: services firms, including Deloitte, earned $84M in fees from Arm’s $5B IPO, the most a company spent on fees since Axa in 2018 and over 7x the average  —  Non-underwriting costs of flotation are the highest Wall Street has seen for five years, according to FT analysis Lees verder op Tech Meme

Rachel Metz / Bloomberg: AI writing startup Writer, used by L’Oréal, Spotify, and Uber to create digital marketing campaigns, raised $100M led by Iconiq Growth at a $500M+ valuation  —  The company’s technology can write and summarize a wide range of text. … Led by Chief Executive Officer May Habib … Lees verder op Tech Meme

Bloomberg: The UK CMA lists seven AI foundation model regulating principles and plans to engage Google, Meta, OpenAI, Microsoft, Nvidia, and Anthropic before a 2024 report  —  – CMA to develop AI regulation position in ‘significant program’  — CMA says ‘real risk’ that AI could undermine consumer trust Lees verder op Tech Meme

Elad Gil / Elad Blog: The US should not regulate most AI, letting the tech mature for positive uses, to avoid favoring incumbents, killing startups, and forcing the industry overseas  —  There have been multiple call to regulate AI.  It is too early to do so.  —  [While I was finalizing this post … Lees verder op Tech Meme

Associated Press: On X, French President Emmanuel Macron backpedals after saying video games “intoxicated” some young rioters and declares games are an “integral part of France”  —  French President Emmanuel Macron is extending an olive branch to video gamers after previously linking computer games … Lees verder op Tech Meme

Scott Murdoch / Reuters: Hong Kong IPOs: AI startup and US Entity List member Beijing Fourth Paradigm aims to raise up to $144M and cloud hospital startup Neusoft Xikang aims for $101M  —  Three Chinese firms, led by AI software company Beijing Fourth Paradigm, are aiming to raise up to $280 million in Hong Kong initial public offerings launched on Monday. Lees verder op Tech Meme

Emma Roth / The Verge: Microsoft product chief Panos Panay steps down, ahead of the September 21 Surface event; consumer marketing chief Yusuf Mehdi to lead Windows and Surface units  —  Panos Panay, the chief product officer at Microsoft, leading Windows development and the company’s Surface line, is leaving Microsoft. Lees verder op Tech Meme

Rachel Metz / Bloomberg: AI writing startup Writer, used by L’Oréal, Spotify, and Uber to create digital marketing campaigns, raised $100M led by Iconiq Growth at a $500M+ valuation  —  The company’s technology can write and summarize a wide range of text. … Led by Chief Executive Officer May Habib … Lees verder op Tech Meme