Tech
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The $1.2 billion startup that wants to become Amazon Prime for savings
In 2022, Hussein Fazal flew 200 of his employees to Las Vegas to cash a $200 check at a payday loan shop. He then asked them to buy a week of groceries for a family on what was left so they could understand their customers’ experience. His company, Super.com was worth approximately $700 million at…
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From missiles to malware: Why the Gulf is stepping up its operational resilience
A surge in cyberattacks, physical strikes on cloud infrastructure and the growing use of AI by both attackers and defenders are forcing Gulf states to rethink how they protect critical digital infrastructure. The importance of enhancing operational resilience across the Gulf has taken on new urgency since the outbreak of the U.S.-Iran war on February…
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Exclusive: Xbox’s CEO on 3,200 job cuts, four studios axed, and her blunt warning that ‘we spread ourselves too thin’
The largest restructuring in the history of Microsoft’s Xbox is accelerating, in what Asha Sharma, its chief executive, described as a fundamental reset of how Xbox operates and invests. Sharma unveiled sweeping changes at the gaming unit Monday, primarily layoffs that will affect roughly 3,200 people, or 20% of staff—1,600 employees will be affected immediately,…
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‘Our business today is not healthy’: 1,600 Xbox employees among the 4,800 laid off by Microsoft as it looks to ‘reset’ gaming division
Microsoft is cutting 4,800 jobs, about 2.1% of its global workforce, including a large number of workers at its Xbox video game business. The layoffs included 1,600 Xbox workers, with more to come this year in a broader reorganization designed to “reset” Xbox as it faces heightened competition, the company said Monday. “Our business today…
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Microsoft’s Frontier push aims to turn AI spending into measurable returns
Good morning. Microsoft is making a $2.5 billion investment in Microsoft Frontier Company, a new operating business focused on delivering AI-driven business transformation for customers. The move reflects the tech giant’s belief that solving enterprise AI’s ROI challenge will be the key driver of the next wave of enterprise AI adoption and spending. With 6,000…
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Top economist says AI just hasn’t delivered on the productivity hype—and it means a ‘painful repricing’ of markets is very possible
The clock is ticking on AI to deliver on its promises of transformed workplace and economic productivity, and if lags in returns on investment continue, the markets are in for a rude awakening, according to one top economist. Torsten Slok, the influential chief economist for Apollo Global Management, argued in a recent blog post that…
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David Senra, your favorite billionaire’s favorite podcaster, has turned down every acquisition offer. Here’s why
David Senra told me he’s unmanageable. Despite that, he’s managed to build a wildly profitable podcast business and has turned down every offer to buy it. Founders, Senra’s original podcast, launched in September 2016. He’s always run it alone—no full-time employees, two subcontractors handling clips and thumbnails—and turned it into a business generating millions of…
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After a nearly 800% explosion, this AI supplier is about to make its U.S. debut and could signal if the market can still boom—or is headed for a bust
South Korean chipmaker SK Hynix isn’t one of the Magnificent 7 stocks but is in a class of its own after pulling off a stunning rally on the back of the AI boom, and it’s about to land on U.S. markets. Shares will list on the Nasdaq and are expected to start trading on Friday,…
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Meet the soccer-playing humanoid robot that just delivered the game ball at the Brazil v. Norway FIFA World Cup match
Before Brazil and Norway retook the pitch at New York/New Jersey Stadium for their Round of 16 match on Saturday, something happened at halftime that had never occurred in FIFA World Cup history. A five-foot humanoid robot walked pitchside, performed goal celebrations in the style of Harry Kane, Erling Haaland, Matheus Cunha, and Son Heung-min,…
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The CEO who vowed to ‘fire anyone who doesn’t use AI’ admits that the technology can’t replace her executive assistant as the role evolves
With their numbers already in decline, secretaries and administrative assistants face another growing threat: artificial intelligence tools like ChatGPT and Claude that can accomplish aspects of their workload with a tap. Employment projection data offers a grim outlook for the women-dominated profession that may be particularly vulnerable to AI-induced job displacement compared to the broader…