Friday, May 3, 2024

Welcome to TechCrunch AM! Today, we have notes on Apple's quarterly results, Microsoft posing limits on how its AI tech is used, the increasing geographic diversity of crypto founders, and even Bluetooth in space. Let's have some fun on this fine Friday morning! — Alex

TechCrunch Top 3

Image Credits: Apple

1. Apple is a value stock now: Apple is selling fewer iPhones than it used to. Revenue from its smartphone line fell 10% in its first fiscal quarter, fueled in part by a decline in sales in China. Were investors worried? Nope. Apple announced a massive buyback and Wall Street was sated. Read More

2. Microsoft doesn't want genAI to be used for facial recognition: Microsoft has put a very clear ban in place to forbid people — police departments in the U.S., in particular — from using its Azure OpenAI Service for recognizing faces. The new language added to its terms of use also forbids integrations with OpenAI's current — and possibly future — image-analyzing models. Read More

3. Google thinks Epic doth request too much: After losing a suit to Epic and failing to wrangle a review by the Supreme Court, Google is fighting with the Fortnite developer over remedies. Epic wants a lot; Google does not want to give that much. Shocking. Read More

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Morning Must Reads

Image Credits: NKTN / Getty Images

Crypto founders are increasingly an international affair: According to data from Alliance DAO, founders in the web3 space are getting thin on the ground in the United States. The crypto accelerator says the U.S. only accounted for 26% of applicants toits recent batch, a stark departure from the 45% U.S. applicants the accelerator received in H2 2021. Read More

Great, Bluetooth in space: Look, I do not want to diminish Hubble Network's success in getting Bluetooth signals from satellites it sent up. It is a critical technology validation for the company, potentially opening the door to connecting millions more devices anywhere in the world. But can I just say, dear heavens, Bluetooth? The same technology that struggles to pair earphones a few feet away? Read More

What to expect from the upcoming iPad event: The timing of Apple's upcoming event focused on iPads is surprising, since it's going to be closely followed by the company's developer event, WWDC. The tech giant must have enough up its sleeve to warrant two major events, right? All eyes are on a potential release of the M4 chipset, and some juicy AI features. TechCrunch has all the details right here.

Around the Web

AI devs are tired: AI tech is advancing by leaps and bounds, and companies around the world are sparing little to get ahead in the race. It's no surprise then, as CNBC reports, that the people building the tech are working insane hours to get the work done. Let's hope they can get some quality R&R and avoid burning out. Read More

Bill Gates is not good at staying retired: Despite all this, Microsoft founder and tech legend, Bill Gates, is still super active at the company. Insider reports that his inputs include a lot of work on the AI front, which is helping the company navigate a new, and fast-moving trend. Read More

Long bitcoin: Block, the fintech company previously known as Square, is investing some of its profits from selling bitcoin into buying bitcoin, Bloomberg reports. Given its co-founder Jack Dorsey's belief in the decentralized asset, the move is not a shock. It also shows how some corporations are moving beyond the traditional financial system. Read More

Before You Go

Image Credits: grinvalds / Getty Images

Apple bets on emerging markets: As its revenues in China decline, Apple is pitching emerging markets as the future of its growth. Citing "places like India, like Saudi, like Mexico, Turkey, Brazil…and Indonesia, the numbers are getting large," Apple's CFO, Luca Maestri, is trying to convince its investors that the company can be more than a wealthy corporation that can afford to buy its shares back. Read More