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Showing posts from June 6, 2023

Reddit Lays Off 5 Percent of Its Workforce, Will Reduce Planned Hiring for 2023

Reddit said on Tuesday it is laying off about 5 percent of its workforce, or 90 employees, joining a list of technology companies that have been cutting jobs across corporate America. Tech companies including Meta Platforms have been slashing jobs after aggressively hiring during the pandemic, as the industry braces for an economic downturn. Meta, the owner of Facebook , slashed jobs across its business and operations units last month, as it carried out its last batch of a three-part layoff round, first announced in March to eliminate 10,000 roles. Reddit, which was spun off from magazine conglomerate Conde Nast in 2011, saw a recent surge in appeal due to the popularity of WallStreetBets and other forums on its platform that have become a venue for retail investors to speculate on stocks. The Wall Street Journal first reported Reddit's move on Tuesday, citing an email sent to employees from Chief Executive Steve Huffman. Huffman said the company would also reduce its hiring

Let’s All Calm Down About AI’s ‘Extinction Risk’

For a hot minute last week, it looked like we were already on the brink of killer AI . Several news outlets reported that a military drone attacked its operator after deciding the human stood in the way of its objective. Except it turned out this was a simulation. And then it transpired the simulation itself didn't happen. An Air Force colonel had mistakenly described a thought experiment as real at a conference. Even so, fibs travel halfway around the world before the truth laces up its boots and the story is bound to seep into our collective, unconscious worries about AI's threat to the human race, an idea that has gained steam thanks to warnings from two “godfathers” of AI and two open letters about existential risk. Fears deeply baked into our culture about runaway gods and machines are being triggered — but everyone needs to calm down and take a closer look at what's really going on here. First, let's acknowledge the cohort of computer scientists who have long

Oppo, OnePlus, Realme to Operate as Separate Entities in India to De-Risk BBK's India Business: Report

BBK Electronics-owned Chinese smartphone companies are reportedly preparing to work as independent entities with sales accounted for in their books. As per a report by Economic Times, the Duan Yongping-founded brand has restructured its India operations and made its three brands — Oppo , OnePlus , and Realme, independent entities. The move could help the manufacturer to de-risk business from the current and future government action against Chinese firms. Different central agencies in the country had accused the brands of income tax evasion, customs violations, fraud and money laundering. As per the ET report citing people familiar with the matter, BBK Electronics has restructured its India operations by making Oppo, OnePlus, and Realme independent entities with sales accounted for in their own books. The manufacturer has reportedly transferred sales and distribution of OnePlus and Realme to legal entities OnePlus Technology India and Realme Mobile Telecommunications India, respect

Google Launches Passkey Support for Workspace and Google Cloud Accounts

Google earlier in May launched Passkey support as an additional sign-in option for personal Google Accounts. Now, the tech giant is extending the support to Workspace accounts with a public beta. Passkeys replace password-only logins and allow users to sign in to apps and websites with PIN, fingerprint scanner, and face unlock. The passwordless sign-in method claims to reduce the impact of phishing and other social engineering attacks. With the open beta launch, over 9 million organisations can allow their users to sign in to Google Workspace and Google Cloud accounts using Passkeys instead of passwords. After announcing personal account support last month, Google made Passkeys available for personal Google Accounts as an additional sign-in option on Monday. With the latest open beta launch, more than 9 million organisations can allow their users to sign in to Google Workspace and Google Cloud accounts using their phone or computer's authentication systems, such as PIN, finge

Crypto Market Watch: Bitcoin Price Falls to Lowest Point Since March, Values of Most Cryptocurrencies Drop: Details

Bitcoin on Tuesday recorded a significant 5.08 percent drop in value to trade at its lowest price in three months since March. The value of the most widely used cryptocurrency currently stands at $25,642 (roughly Rs. 21 lakh), after having incurred consistent losses over the past few days. Bitcoin's performance, over the past week has not been very impressive, especially when the cryptocurrency's moving averages are being influenced by the ‘sell' sentiment. Meanwhile the US SEC has sued Binance over all;eged legal violations, another reason why Bitcoin has seen a notable drop in value over the last 24 hours. Ether outperformed Bitcoin in terms of retaining value on Tuesday. After incurring a loss of 3.10 percent, ETH is trading at $1,811 (roughly Rs. 1.49 lakh), according to the crypto price tracker by Gadgets 360. Both, Bitcoin and Ether are facing the impact of the SEC vs Binance debacle, resulting in price drops for most altcoins. “The crypto fear and greed index has