Good morning! This is the tech news you need to know this Thursday.
1. WeWork is raising new funds and seeking a valuation of $35 billion. That valuation would make WeWork the second most valuable startup in the world, behind only Uber.
2. Tesla Motors CEO Elon Musk has purchased about $25 million worth of stock in his own company. That’s just a day after Musk told employees that Tesla planned to let go of 9% of its total workforce.
3. Comcast on Wednesday officially bid $65 billion for 21st Century Fox, topping Disney’s $52 billion offer. The proposal comes one day after a court approved AT&T’s $85 billion merger with Time Warner.
4. Microsoft is working on tech that could eliminate cashiers and queues from shops, taking a page from Amazon’s playbook. Reuters reported that Microsoft has talked to Walmart about a possible collaboration.
5. Young people are ditching the Facebook app as a source of their news, a new study has found. Instead, they’re turning to messaging apps like WhatsApp — which is also owned by Facebook.
6. Twitter is making more room for major news events and stories. The company will begin notifying app users when a significant event occurs, like the World Cup or a royal wedding, that might interest them.
7. Amazon is using artificial intelligence to make more important decisions in its day-to-day operations, replacing white-collar workers. Algorithms are forecasting product demand, ordering inventory, and negotiating prices, according to Bloomberg.
8. Yelp’s PR boss has left the local recommendations company and gone to its big nemesis: Google. The relationship between Google and Yelp has long been acrimonious, ever since Yelp began accusing Google of tweaking searches to favor its own content ahead of competitors.
9. Silicon Valley venture capitalist Tim Draper’s drastic proposal to split California into three states — Northern California, California, and Southern California — has received enough signatures to appear on the ballot in November. Although, the proposal is as radical as it is unlikely to pass.
10. According to eMarketer data, Zelle is now the most-used peer-to-peer payment app in the US, and is expected to grow more than 73% in 2018. It’s now more popular than Venmo.
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Source:: Business Insider