Monday, July 1, 2024

Welcome to TechCrunch PM! Today, we found out that fintech app Wise is the latest company affected by the recent data breach at Evolve Bank & Trust; the Supreme Court decides to send some social media laws back to the lower court for further review; using AI is tough; and Robinhood makes an acquisition. Let's go!

TechCrunch Top 3

Image Credits: Jakub Porzycki/NurPhoto / Getty Images

Wise alerts customers of data breach: The money transfer and fintech company said some of its customers' personal data may have been stolen in the recent data breach at Evolve Bank & Trust. Wise worked with Evolve from 2020 until 2023. At this point, it's unclear how many Wise customers have been affected, as the company wrote that it is still "actively investigating." Read more

A gift that keeps on giving: If you like to shower your friends and loved ones with gifts, Afloat is now available nationwide to be your go-to service. The company allows users to shop at local stores and have items delivered instantly. And it takes care of the entire gift-giving process, including gift wrapping and adding a handwritten note for an extra personal touch. Read more

Social media and the First Amendment: The Supreme Court sent social media moderation laws from Texas and Florida back to the lower courts for further review, including how these laws will fare up against First Amendment challenges. Read more

Afternoon must-reads

Image Credits: Omar Marques/SOPA Images/LightRocket via Getty Images

Robinhood acquires Pluto: Not the former planet, but the AI-powered research platform Pluto Capital Inc. The company says that Pluto will allow the investment app to add tools for quicker identification of trends and investment opportunities, help guide users with their investment strategies, and offer real-time portfolio optimization. Read more

AI, be gone: You can now request YouTube to take down AI-generated or other synthetic content that simulates your face or voice. The change allows people to request the removal of this type of AI content under YouTube's privacy request process. Remember, though, it's a request, and that doesn't mean it will be removed. Read more

AI is hard: In May, Meta started tagging photos with a "Made with AI" label to distinguish between real photos and those made by AI. Well, who would have guessed that the algorithm would get it wrong and put the tag on real photos? Now Meta is changing that tag. Read more

Vaire Computing raises $4.5M: The London- and Seattle-based startup is betting that reversible computing will be the way forward. Instead of running a calculation in only one direction (inputs followed by outputs) and then feeding the output to a new calculation and running it again, the computing can be done in both directions (known as "time-reversible" computing). Effectively, energy is retained inside the chip instead of being released as heat. The theory is that this method would generate negligible amounts of heat, vastly reducing energy consumption. Read more

Host your own event at Disrupt: Take advantage of all those thousands of attendees to throw your own side event. TechCrunch can help. Read more

Around the web 🌐

AI is boring: So much so that some of the biggest winners in this sector, per Business Insider, may be companies you are not interested in at all. Sure, they save on electricity, but they don't give you a charge. They help manage data centers, but that doesn't quite get the excitement flowing. You get the idea. Read more

Inside the Redbox parent bankruptcy: The Wall Street Journal takes a look at what's going on over at Chicken Soup for the Soul and why it filed for Chapter 11 late last week. Read more

Nvidia under French scrutiny: Reuters reports the chipmaker is expected to be charged by a French antitrust regulator for allegedly anticompetitive practices. Read more