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🗞️Diversity and inclusion news🗞️
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🧠Things that make you go hmmm🧠
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👋🏾Elon backs down👋🏾
Elon Musk, has decided to back down in his war against Brazil's judiciary🙌🏾
The platform has hired a legal representative, one of the key demands made by Brazil’s judges in a bid to comply with a deadline imposed by the Supreme Court to end the ban on the in Brazil that started on August 30📆
X also paid outstanding fines and took down user accounts that the court had ordered to be removed on the basis of a legal order🧑🏾⚖️
There are still some bits to resolve with judge Justice Alexandre de Moraes haven given X five days to provide further information on its legal representation before possible restoration🤔
In other negative news for Elon "Cards against humanity".
Yes that game are suing Elon Musk for trespassing and land damage. Yes Cards Against Humanity purchased a plot of land in Texas in 2017 as part of a stunt to prevent then president Donald Trump's border wall from being built in the area. They are seeking $15m in damages from SpaceX who they claim "SpaceX's abuse of this Property has not only destroyed its natural condition, but has also caused even greater harm to CAH by virtue of the damage it has caused to CAH's relationship with its paying supporters" as the land
was bought with the intention of acquiring "the Property for the sole purpose of ensuring that it would stay that way"😅
So what?
Governments around the world will be rejoicing. It appears Even being the richest person in the world doesn't mean you are above the law. Some may be concerned about the government's ability to censor and limit content or the very presence of platforms, but hey at least we know the extents to which the can go
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☢️Nuclear AI☢️
Microsoft has announced a 20 year deal to have a new nuclear reactor open adjacent to the site of the US's biggest Nuclear Reactor meltdown, as part of its mission to be greener🍂
Nuclear has become back in fashion as companies seek affordable and cleaner ways to provide 24/7 carbon-free power given Microsoft earlier this year said its emissions had risen almost a third since 2020💨
Constellation (The company who will run the reactor) said the plant create 3,400 jobs and contribute at least $16bn to philadelphia's economy💸
AI is forecast to drive demand which is forcast grow 160% by 2030, when data centers are expected to account for 8% of the power generated in the US🇺🇸
The Guardian found that data center emissions of four of the biggest tech companies, Google, Microsoft, Meta and Apple, are probably about 662% – or 7.62 times – higher than officially reported😮
This comes off of the back of Microsoft recently partnering with BlackRock to raise $100 billion to 'emancipate themselves from the shackles' of insufficient power and increase data centers for their ambitious AI dreams😅
A further area of Target will undoubtedly be water too. Data centre cooling is a big deal and can cause some issues with Microsoft trailing plants under the sea and Google being challenged in Uruguay for prioritising itself for scarce fresh water💧
A new study indicates OpenAI's GPT-4 AI model consumes up to 3 water bottles to generate 100 words😮
So what?
Is nuclear the way forward. It's got a bad wrap after Chernobyl but could be a middle road to a greener future "emancipating" big tech companies
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💰Apple's Tax bill💰
Back in 2016 - The European Commission ordered Ireland to recover up to 13 billion euros ($14.4 billion) in back taxes from Apple💰
So Apple and Ireland appealed the commission’s decision in 2019, and it went back and forth in the courts with the next court up, the EU General Court, siding with the U.S. tech giant saying that the executive arm did not prove that the Irish government had given Apple a tax advantage🇺🇸
The commission in turn appealed the General Court’s decision, sending the litigation up to the European Court Justice which ruled in favour of Apple coughing up the cash💸.
Apple issued financial guidance warning investors it was going incur a one-time income tax charge of about $10 billion in its fourth fiscal quarter ending Sept. 28, 2024. Apple shares were down about 1%.📉
So what?
We wonder if this fine has been adjusted for inflation or had interest charged as 1 pound then is now worth 1.45 today and therefore the relative value of the nominal amount of the fine being paid today buys a whole lot less.
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📲Instagram for teens📲
Instagram launched its for teens proposition after years of campaigns around how it safeguards young people🍼
On Tuesday across the UK, US, Canada and Australia “teen accounts” are being introduced from Tuesday in the UK, US folks under 18 will find many of instagram's privacy settings on by default📱
Such features include making their content unviewable to people who don't follow them, and making them actively approve all new followers.
But children aged 13 to 15 will only be able to adjust the settings by adding a parent or guardian to their account👀
So what?
This shifts some of the responsibility onto parents for the content their young people consume however does not stop potentially malicious actors adding young people or exposure to content which may be harmful. Given Australia is outright going to ban Social media for Teens Meta may be hoping this will pacify some of its vocal opponents ahead of moves like that
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📈 The tools behind the tech📉
📦Product📦
📏Design📏
👩🏿💻Code👩🏿💻
🏢The business behind the tech🏢
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🌐Partner Events & Opportunties 🌐
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💸We're hiring💸
Yes you read that right, We're looking for someone to join the team who is passionate about Venture, Startups and Education as our new Startup and VC lead
Take a look here if you're interested
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💸Discounts to Sifted summit💸
Use the code CPCIT20 on the first page of the registration process when it asks for a promo code.
This code is redeemable against any of the different ticket types.
Dates: 2 -3 October
Venue: Magazine London
Tagline: Where startups make headlines
Theme: Startup revival
European tech has taken a beating — but startups are bouncing back. This year, Sifted Summit will explore how Europe’s leading founders, startup operators and investors are recalibrating.
Website: Link here
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🙌🏾1:1 with an investment partner🙌🏾
@Ada Ventures' are partners with us at @BTF!
This year, the team has a whole stage and multiple opportunities for underrepresented startup founders. And one of those opportunities includes... a 1:1 sit-down with investment partner Check Warner!
Ada is getting involved to meet more founders working across our thesis areas, being built by black and underrepresented founders. In other words, we want to meet you!
So, if your business is founded/co-founded by an underrepresented founder and building a startup across our Fund II thesis industries in pre-seed or seed, apply using the link below to meet Check on the 10th October in London!
- Climate equity — climate technologies and urbanisation/mobility
- Healthy ageing — biotech and personalised (mental and physical) health
- Economic empowerment — equitable work and financial infrastructure
Link: https://www.joinbtf.com/2024/1-to-1-with-investors
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🙌🏾The latest from the Colorintech team🙌🏾
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