🤖 Appropriate Use of AI
Google backtracks on its hard stance on AI, and in fact will now enhance the SERPs with it. Plus updates on the markets, online business, startups, crypto and real estate.
PIMCO still forecasts a US recession despite resilient economic data.
Disney announced it will be slashing 7000 jobs (~3% of employees) to cut ~$5.5B in costs and will restructure the company into three divisions focused on entertainment, parks, and ESPN. The share price rose over 5% yesterday.
ONLINE BUSINESS UPDATE
In new search guidance, Google backtracks on its negative stance on AI-generated content, stating “Appropriate use of AI or automation is not against our guidelines. This means that it is not used to generate content primarily to manipulate search rankings.”
Sports Illustrated is using Jasper AI to generate articles. It’s owner The Arena Group’s share price is up 24% over the last month.
You are invited…
To attend one of Flippa’s Exit Meetups 🎉
Forget bleak networking events, Flippa’s Meetups aim to bring together business owners, investors, entrepreneurs, and go-getters in a lively and laid-back setting.
You’ll get to mingle with like-minded people, share your stories, and find the inspiration you need to plan your next move, whether that’s buying, selling, or starting a business. Added bonus: you’ll get to know the team behind Flippa!
We have six meetups planned in the US this year: Las Vegas, Austin, San Francisco, San Jose, Chicago, and Phoenix.
See you there?
SALT Lending, a crypto startup that offers blockchain-backed loans, raised a $64.4M Series A, after the planned acquisition by the online investing platform Bnk To The Future fell through.
Moderne, a startup that claims it can fix code for developers, raised a $15M Series A, bringing the total to $19.7 million.
Follow, the social investment platform that enables users to subscribe to influencers’ investment portfolios, raised a $9M round.
Robinhood plans to purchase 7% of the company back from Sam Bankman-Fried; says it’s working with the DOJ but can’t guarantee a deal will happen.
Lawyers and advisors in FTX bankruptcy have billed nearly $20M for 51 days of work - a good day rate.
FTX gets court approval to subpoena SBF and members of his family.
REAL ESTATE UPDATE
Bloomberg estimates that Chinese property developers have had their worst earnings in at least the last seven years.
Canadian employee’s hybrid work model has had an impact on commercial real estate markets.
Adam Neumann wants his apartment residents to feel like owners, regardless if they have equity or not.
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