Activision Blizzard Shareholders Vote in Favor of Microsoft’s $68.7 Billion Takeover Bid
Video Credit: Wibbitz Top Stories - Duration: 01:30s - Published
Activision Blizzard Shareholders Vote in Favor of Microsoft’s $68.7 Billion Takeover Bid
Activision Blizzard Shareholders , Vote in Favor of Microsoft’s, $68.7 Billion Takeover Bid.
Activision Blizzard Shareholders , Vote in Favor of Microsoft’s, $68.7 Billion Takeover Bid.
Engadget reports that on April 28, over 98%
of shareholders approved of the merger.
Activision's board of directors advised shareholders to vote in favor of the acquisition because it unanimously agreed the move was best for all parties.
Engadget reports that if the majority of shareholders had not approved of the merger, the deal would not have been able to move forward.
Engadget reports that if the majority of shareholders had not approved of the merger, the deal would not have been able to move forward.
These US Cities, Have the Highest Populations of, Millionaires.
According to a report by Henley & Partners,
the United States remains the top country in the
world for private wealth creation and accumulation.
Quartz reports that the U.S. accounts
for about 32% of global liquid investable
wealth, valued at approximately $67 trillion.
Here are some of the cities
with the largest populations of
millionaires, according to the report.
Austin, This Texas city had the biggest explosion
in millionaire growth in the U.S. over the past
ten years, reaching 32,700 by the end of 2023. .
Miami, This Florida city is home to
35,300 millionaires and 15 billionaires,
including Amazon CEO Jeff Bezos.
Boston, While having just eight billionaires,
the fewest of any other city on the list,
this New England city is home to , 42,900 millionaires.
Seattle, This Washington State city is the home of
some of the largest corporations in the U.S.,
including Amazon and Microsoft. It's also
home to 54,200 millionaires and 11 billionaires. .
Chicago, Approximately 120,500 millionaires
live in this Midwestern metropolis. .
Los Angeles, The second-most populous city in the U.S. has about, 212,100 millionaires and 43 billionaires.
San Francisco, The tech hub of the U.S. boasts the most
billionaires with a whopping 68, as well as
the second-most millionaires with 305,700. .
New York, The city with the most high
net worth individuals has about , 349,500 millionaires
and 60 billionaires
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk’s Emails , Are Published by OpenAI.
Musk recently sued OpenAI for shifting from non-profit operations to a for-profit model. .
Musk recently sued OpenAI for shifting from non-profit operations to a for-profit model. .
Musk, an OpenAI co-founder and early investor, says he wants the company to get back to its original goal of creating AI for
the benefit of humanity, not revenue.
He also wants company co-founders
Sam Altman and Greg Brockman to
pay back any profit they received.
He also wants company co-founders
Sam Altman and Greg Brockman to
pay back any profit they received.
Now, the ChatGPT maker is calling Musk out, releasing redacted emails that seem to show him agreeing that the company needed to adopt a for-profit model to advance its projects.
This needs billions per year
immediately or forget it.
I really hope I’m wrong. , Elon Musk, via an email dated Dec. 26, 2018, provided by CNN.
He went on to suggest a $1 billion funding commitment and pledged to cover the remainder of whatever was not raised.
Musk ultimately contributed $45 million to OpenAI's funding, and $90 million was raised through other donors, CNN reports. .
He never fulfilled his promise
to fund the rest, CNN reports. .
We all understood we were going to need
a lot more capital to succeed at our mission —
billions of dollars per year, which was far
more than any of us, especially Elon, thought
we’d be able to raise as the non-profit, OpenAI, via blog post.
In 2019, OpenAI became a for-profit entity
and now has a $90 billion valuation.
Microsoft has committed
$13 billion to their cause.
We’re sad that it’s come to this with someone
whom we’ve deeply admired—someone
who inspired us to aim higher, then told us
we would fail, started a competitor,
and then sued us when we started
making meaningful progress towards
OpenAI’s mission without him, OpenAI, via blog post
Credit: Wibbitz Top Stories Duration: 01:30Published
Elon Musk , Sues OpenAI.
Musk filed the lawsuit against OpenAI,
co-founders Sam Altman and Greg Brockman,
and other entities on Feb. 29, TechCrunch reports. .
Musk filed the lawsuit against OpenAI,
co-founders Sam Altman and Greg Brockman,
and other entities on Feb. 29, TechCrunch reports. .
Musk filed the lawsuit against OpenAI,
co-founders Sam Altman and Greg Brockman,
and other entities on Feb. 29, TechCrunch reports. .
Musk, who is also an OpenAI co-founder
and early financial backer, .
claims that OpenAI breached an original agreement by shifting its focus to pursue profits. .
Musk says that he invested in the company under
the promise that it would operate as a non-profit working to develop AI for the benefit of humanity.
But after partnering with Microsoft and receiving
a $13 billion investment, Musk alleges that the company switched to a for-profit business model.
In reality, however, OpenAI, Inc.
has been transformed into a
closed-source de facto subsidiary
of the largest technology company
in the world: Microsoft. , Via lawsuit.
Under its new board, it is not just
developing but is actually refining
an AGI to maximize profits for
Microsoft, rather than for the
benefit of humanity, Via lawsuit.
This was a stark betrayal of
the Founding Agreement, Via lawsuit.
Musk is seeking to stop OpenAI from monetizing certain technologies and would also like the court
to rule that AI systems constitute artificial general intelligence and exceed licensing agreements.
Musk is seeking to stop OpenAI from monetizing certain technologies and would also like the court
to rule that AI systems constitute artificial general intelligence and exceed licensing agreements.
Additionally, Musk is seeking "potential restitution of donations," TechCrunch reports.
Credit: Wibbitz Top Stories Duration: 01:30Published
If AI ‘is the most powerful technology in the world, shouldn't it have at least as much regulation as a carton of milk?’ says Microsoft President, Brad Smith.
Credit: euronews (in English) Duration: 12:51Published
On Wednesday morning, Microsoft co-founder Bill Gates, alongside state government officials, made a notable visit to a slum in Bhubaneswar, Odisha. Their destination was the Biju Adarsh Colony in the Maa Mangla Basti, where they engaged directly with the residents. Gates' purpose extended beyond a mere inspection of living conditions; he also took the opportunity to interact closely with women's self-help groups (SHGs) that operate within the area. This visit underscores the collaborative efforts between various departments of the state government and the Bill & Melinda Gates Foundation. Together, they are striving to address critical issues within marginalised communities, particularly focusing on empowerment initiatives led by women's SHGs. The presence of such a prominent figure as Bill Gates highlights the importance of these grassroots efforts and signals a commitment to fostering positive change and inclusive development in Odisha's urban areas.
#BillGates #NaveenPatnaik #BhubaneshwarVisit #SlumInteraction #CommunityEngagement #ResidentInteraction #Philanthropy #UrbanDevelopment #CommunityEmpowerment #SocialImpact #HumanitarianEfforts #BhubaneshwarCommunity #InclusiveDevelopment #CommunityOutreach #EmpoweringCommunities #BillGatesInIndia #CommunityBuilding #HumanitarianVisit #SocialChange #BhubaneshwarImpact #BuildingBetterCommunities
~HT.99~PR.152~ED.194~
LinkedIn Is Developing , In-App Games.
Networking is about to become more entertaining, Engadget reports. .
The jobs-focused social media platform will soon offer its users puzzle-based games.
The jobs-focused social media platform will soon offer its users puzzle-based games.
Nima Owji, an app researcher, posted screenshots of some of the upcoming games.
LinkedIn also confirmed the development
of the games to TechCrunch.
We’re playing with adding puzzle-based
games within the LinkedIn experience to
unlock a bit of fun, deepen relationships,
and hopefully spark the opportunity
for conversations. Stay tuned for more!, LinkedIn spokesperson, to TechCrunch.
Upcoming titles include
'Queens,' 'Inference' and 'Crossclimb.'.
Companies will reportedly be ranked in the games based on how their employees score.
A release date has yet to be announced.
It's also not clear whether only
paid subscribers will have access to the
games or if free users can play as well. .
It's also not clear whether only
paid subscribers will have access to the
games or if free users can play as well.
Credit: Wibbitz Top Stories Duration: 01:30Published
NVIDIA Sued , Over AI Copyright Infringement.
Authors have sued NVIDIA over NeMo, the company's AI language model that helps to create and train chatbots, Engadget reports.
Authors have sued NVIDIA over NeMo, the company's AI language model that helps to create and train chatbots, Engadget reports.
According to authors Abdi Nazemian,
Brian Keene and Stewart O'Nan, their
books were illegally used to train the AI.
They are seeking a jury trial and want NIVIDIA to pay damages and destroy the dataset that powers NeMo's large language models.
According to the authors, the Books3
dataset copied Bibliotek, a shadow library containing 196,640 pirated books.
In sum, NVIDIA has admitted
training its NeMo Megatron models
on a copy of The Pile dataset. , Via lawsuit against NVIDIA.
Therefore, NVIDIA necessarily also
trained its NeMo Megatron models
on a copy of Books3, because
Books3 is part of The Pile. , Via lawsuit against NVIDIA.
Certain books written by Plaintiffs
are part of Books3— including
the Infringed Works—, Via lawsuit against NVIDIA.
... and thus NVIDIA necessarily trained
its NeMo Megatron models on one or
more copies of the Infringed Works,
thereby directly infringing the
copyrights of the Plaintiffs, Via lawsuit against NVIDIA.
NVIDIA responded to the suit, telling 'The Wall Street Journal,' "we respect the rights of all content creators and believe we created NeMo in full compliance with copyright law.".
OpenAI and Microsoft were hit
with a similar lawsuit last year.
Credit: Wibbitz Top Stories Duration: 01:31Published
Google Announces Update , Aimed at Reducing SEO , Spam Search Results.
Engadget reports that Google plans to
tweak its search algorithm in an attempt
to weed out automated spam results.
According to the company, the changes will , "keep the lowest-quality
content out of search.".
Google noted that the engine will improve
how it can locate and eliminate AI-generated
content that has become harder to spot.
The company said that the new update will apply
what was learned in a 2022 algorithmic tune-up
aimed at reducing "unhelpful, unoriginal content.".
Google hopes the changes will drive more traffic toward , "helpful and high-quality sites.".
This update involves refining
some of our core ranking systems
to help us better understand if
webpages are unhelpful, have
a poor user experience or feel
like they were created for
search engines instead of people. , Elizabeth Tucker, Google product
management director, via Engadget.
This could include sites
created primarily to match
very specific search queries, Elizabeth Tucker, Google product
management director, via Engadget.
Engadget reports that Google appears to be targeting
AI-generated SEO spam, which includes the growing
problem of sites using AI to generate worthless content.
Today, scaled content creation
methods are more sophisticated,
and whether content is created
purely through automation
isn’t always as clear, Elizabeth Tucker, Google product
management director, via Engadget.
Google says the changes,
which go into effect on May 5, .
"will allow us to take action on more types of
content with little to no value created at scale,
like pages that pretend to have answers to popular
searches but fail to deliver helpful content."
Credit: Wibbitz Top Stories Duration: 01:31Published
Spotify Offers , Audiobook-Only Subscription.
Spotify's Audiobooks Access Tier has rolled out for $10 per month in the U.S., Engadget reports.
The subscription provides
15 hours of audiobook listening.
Spotify has over
200,000 audiobooks
to choose from.
In November, Spotify began offering
Premium subscribers 15 hours of
audiobook listening at no additional cost.
Spotify Premium costs $11 per month.
Since November, free tier users have
searched for and interacted with
audiobooks 45% more each day, Spotify said. .
That increase has seemingly justified
Spotify's decision to offer a
subscription tier only for audiobooks.
Ad-supported music will still be
available to those users.
According to Engadget, audiobooks can usually be finished in seven to 11 hours, .
which provides the opportunity to possibly fit in two titles per month with Spotify's plan.
That may undercut Audible, which charges subscribers $15 per month for one audiobook.
Credit: Wibbitz Top Stories Duration: 01:31Published
Google Pay Is Shutting Down , in the US.
Despite being all but replaced by Google Wallet
in 2022, Google Pay has continued to operate
in several countries, Engadget reports. .
But on Feb. 22, Google announced
that Pay will shut down in the U.S.
The payment app will be
discontinued on June 4.
It will continue to be
operational in Singapore
and India because of
"unique needs in
those countries," Google said.
Google Pay balances can still be transferred
to a bank account after June 4 in the U.S. via the Google Pay website, Engadget reports. .
Google Wallet currently has five times
the users as Google Pay and is used in
180 countries, the tech giant said.
That is likely due to the fact that the
app doesn't just handle payments.
It also stores IDs, transport passes,
virtual car keys and more, Engadget reports. .
Google's payment system has gone
through many changes over the years, .
but the latest decision is intended to
simplify the company's payment apps
under the Google Wallet umbrella
Credit: Wibbitz Top Stories Duration: 01:30Published
SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The ‘crypto’ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and today’s decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Court’s
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
SEC's New , Climate Disclosure Rules , Facing Multiple Lawsuits.
'Newsweek' reports that both industry and
environmental groups have legally challenged the
Securities and Exchange Commission over new rules. .
The new rules require some businesses to disclose
information about climate risks, including direct
greenhouse gas emissions and risks from extreme weather.
The SEC rules, which were approved on March 6 by a 3-2 vote,
also require companies to provide investors with context
on how those companies plan on managing those risks.
Some requirements were pared back prior to the rules
being approved. Those rules include reporting on Scope 3
emissions which relate to the company's supply chain.
In response to the new rules, two fossil fuel producing
companies filed lawsuits accusing the SEC of burdening
companies and exposing them to potential litigation.
19 state attorney generals have also
filed lawsuits claiming that the new rules
exceed the SEC's legal authority.
On the other side, environmental groups the Sierra Club
Foundation and Earthjustice announced their own lawsuits
accusing the SEC of watering down rules to protect investors.
Sierra Club has millions of members
and supporters who have investments
in the market. It's really critical that
we have access to information about
climate risks that may be faced
by the kinds of entities that
we would hope to invest in, Andres Restrepo, Sierra Club Senior Attorney, via Newsweek.
'Newsweek' reports that the SEC rules were
meant to take effect in 2026, however, the
legal challenges are likely to result in delays.
The new rules come as the U.S. Supreme Court
has indicated plans to restrict the regulatory
authority of environmental enforcement agencies.
Credit: Wibbitz Top Stories Duration: 01:31Published
Bitcoin Rallies, on Hopes of Renewed Interest , Among Mainstream Investors.
On March 4, the price of Bitcoin broke $65,000,
bringing it closer to returning to an all-time
high reached in November 2021.
NBC reports that the latest rally has been driven
by hopes that the launch of bitcoin exchange-
traded funds will expand bitcoin's pool of buyers. .
In 2024, the cryptocurrency has
gained over 48%, rapidly approaching its
record intra-day all-time high of over $68,000.
In January, Bitcoin ETFs were first approved by
the Securities and Exchange Commission (SEC). .
The SEC said the approval of the ETFs were meant
to make it easier for investors to gain exposure to
Bitcoin without having to actually own the digital coins.
NBC reports that the world of crypto is also banking
on a potential rally following a technical event
known as "halving" scheduled to occur in April.
This event will see the rate of supply for new bitcoin
to decline, which could cause the value of the
cryptocurrency to increase if demand remains unchanged.
Some mainstream investment experts have
still urged caution when it comes to investing
in the controversial cryptocurrency.
With equities, you own a share
of a company that produces goods
or services, and many also pay
dividends. With bonds, you get
a stream of interest payments, Vanguard statement, via NBC.
Commodities are real assets that meet
consumption needs, have inflation-
hedging properties, and can play
a role in certain portfolios, Vanguard statement, via NBC.
While crypto has been classified
as a commodity, it’s an immature
asset class that has little history,
no inherent economic value,
no cash flow, and can create
havoc within a portfolio, Vanguard statement, via NBC
Credit: Wibbitz Top Stories Duration: 01:32Published
Bitcoin Regains , $1 Trillion Market Cap.
On Feb. 14, the cryptocurrency's market capitalization exceeded $1 trillion for the
first time since 2021, CNBC reports. .
Bitcoin also surpassed the
$51,000 level during day trading.
It hasn't reached that price since
December 2021, CNBC reports. .
The price increase comes on the heels
of a 150% rally that occurred in 2023.
The 2023 rally was in anticipation of
the SEC's approval of bitcoin ETFs,
which came to fruition in January 2024.
However, the cost of bitcoin slumped after the ETF approval, and a new rally kicked off shortly after.
That rally is currently happening as
investors look toward bitcoin's "halving." .
"Halving" is written into bitcoin's code and reduces the supply of the cryptocurrency every four years.
The "halving" is set to take place in April. .
Just this year, bitcoin is up over 21%.
Credit: Wibbitz Top Stories Duration: 01:30Published
FTC Files Complaint Against Microsoft , After Activision Layoffs.
FTC Files Complaint Against Microsoft , After Activision Layoffs.
On Jan. 30, Microsoft's gaming division laid off
1900 people, including at Activision Blizzard. .
Now, the Federal Trade Commission (FTC)
has accused Microsoft of not upholding its promise
to let Activision operate independently after being
acquired for $69 billion, Engadget reports. .
Now, the Federal Trade Commission (FTC)
has accused Microsoft of not upholding its promise
to let Activision operate independently after being
acquired for $69 billion, Engadget reports. .
Microsoft’s recently-reported plan to
eliminate 1,900 jobs in its video game
division, including in its newly-acquired
Activision unit, contradicts the foregoing
representations it made to this Court, FTC, via complaint.
Specifically, Microsoft reportedly has stated
that the layoffs were part of an 'execution
plan' that would reduce 'areas of overlap'
between Microsoft and Activision, , FTC, via complaint.
... which is inconsistent with
Microsoft’s suggestion to this Court
that the two companies will operate
independently post-merger, FTC, via complaint.
Microsoft previously suggested that layoffs
wouldn't need to be made if its "vertical acquisition"
of Activision was approved because there would
be no job redundancies, Engadget reports. .
Microsoft previously suggested that layoffs
wouldn't need to be made if its "vertical acquisition"
of Activision was approved because there would
be no job redundancies, Engadget reports. .
The FTC has asked for a temporary acquisition
pause so that it can further investigate. .
The agency has continually challenged the acquisition since it was approved by the U.K.'s Competition and Markets Authority last year.
If the FTC continues to push its antitrust concerns, it's possible that Microsoft could be forced to
divest Activision Blizzard, Engadget reports. .
6,000 video game workers have already
been laid off across the industry this year.
Last year, about 10,500 were laid off.
Credit: Wibbitz Top Stories Duration: 01:30Published