Tech Rundown: Paying for Instagram?

Hello there,

Here’s today tech rundown — everything you need to know from the world of tech summarised in 3 minutes!

In today’s email:

• Meta’s win-win ad free plan

• Anthropic gets another (VC) sugar daddy

• $100m for an enterprise-grade browser

The Lead Story

Meta is introducing a paid subscription in Europe that will eliminate ads from Facebook and Instagram.

It’s a move aimed at addressing EU concerns regarding ad targeting. Users can choose to pay for privacy or continue with free access while accepting data collection practices. The subscription is set to cost €10-€13/month.

This is significant for a few reasons:

1. Meta’s win-win: The social media giant now has an incentive to run even more ads. Showing more ads equals more revenue for Meta; if users feel there’s too many campaigns, they can upgrade to the ad-free plan. Either way, Meta’s top line wins.

2. Even when there is supposedly helpful regulation, companies will still turn a buck (or euro).

3. It will be interesting to see if other companies follow in Meta’s footsteps (safe bet: yes)

More Tech Headlines

• FTX re-launch: FTX considers 3 bids to re-launch crypto exchange after 2022 collapse (link)

• In-Stability AI: General counsel and HR chief depart from Stability AI amid ongoing upheaval (link)

• Twitter drop: Fidelity writes down Twitter/X investment by 65% after Musk's takeover (link)

• AI money: Google commits $2b to AI darling Anthropic; $500m upfront with $1.5b later (link)

• MSFT mistake: Microsoft CEO acknowledges mistake in abandoning Windows Phone and Nokia acquisition (link)

Startup Fundraising

• ImmuONE is developing a 3D-human lung model to replace animal testing. Raised $2m (link)

• Gozen is building lab-grown leather. Secured $3M (link)

• Island, an enterprise browser with a focus on remote work features, gained $100m at $1.5b valuation (link)

• Mojo Vision, a micro-LED pioneer, aims to revolutionize mixed reality. Raised $21m (link)

• Darwinium detects bots and safeguard internet users from fraud. Gained $18m (link)

Useful Sites

• Scriber: YouTube videos summarised

• 1000 Tools: A thousand helpful websites aggregated

• FocuSee: Turn screen-recordings into captivating videos

Daily Data

Despite growth in revenue per user, Snap continues to take on losses

Big tech falls from their 52-week highs

Distractions

• A robot dog powered by ChatGPT

• The black market for GitHub cred

• Google founder’s air yachts to take flight

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