Business, Financial & Legal News - Page 9

All the latest Business, Financial & Legal news as it relates to tech, gaming, and science - Page 9.

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Best Buy to stop selling physical DVDs and Blu-rays in 2024

Derek Strickland | Oct 12, 2023 9:03 PM CDT

Best Buy will exit the physical media business and no longer sell DVDs and Blu-ray discs, sources tell The Digital Bits.

Best Buy to stop selling physical DVDs and Blu-rays in 2024

Retailer Best Buy plans to phase out its struggling physical media segment in a bid to reduce inventory costs and offset low sales. The company is expected to stop selling movies and TV shows across DVD, Blu-ray, and UHD 4K discs in early 2024 (corresponding to Best Buy's FY25 period), responding to a shift in consumer behavior. Physical video games are not expected to be included in Best Buy's decision.

The move comes at a time when consumers are buying less disc-based physical media, and any trip to a local Best Buy speaks volumes about the retailer's current focus. What comes as a surprise, however, is that Best Buy will no longer sell DVDs, Blu-rays, or UHD BDs on its online storefront either. The company apparently plans to remove all physical media from its inventory both in-store and online.

Continue reading: Best Buy to stop selling physical DVDs and Blu-rays in 2024 (full post)

Meta's subscription plan for ad-free Facebook and Instagram costs more than Netflix

Jak Connor | Oct 4, 2023 5:03 AM CDT

A new report from The Wall Street Journal has revealed that Meta is currently planning on rolling out a new subscription plan that will remove ads from both Facebook and Instagram.

Meta's subscription plan for ad-free Facebook and Instagram costs more than Netflix

The article states that Meta is planning on rolling out the new plan to EU users within the coming months, where it will offer an ad-free experience on Facebook or Instagram for $14 per month on mobile, or both social media platforms for $17 a month on desktop. The new subscription plan comes after a court ruling that enforces Meta to gain consent from users to access personal data that will then be used for targeted advertising.

Users who are unwilling to pay the monthly fee will automatically give consent to targeted advertising. Meta has until November to comply with the recently updated regulations, with regulators even recommending other social media companies to look into subscription models for userbases. It's likely that not many users will choose to opt into Meta's new subscription plan, given its price. The most basic plan is only a little bit cheaper than Netflix's standard plan.

Continue reading: Meta's subscription plan for ad-free Facebook and Instagram costs more than Netflix (full post)

Elon Musk went 'demon-mode' on SpaceX over Starship, 'We need to get to Mars before I die'

Jak Connor | Oct 4, 2023 1:25 AM CDT

In an exclusive excerpt from Walter Isaacson's biography titled "Elon Musk", where he shadowed the world's richest man for two years, we get a glimpse of what it's like when Musk ticks over to what is described as "demon-mode".

Elon Musk went 'demon-mode' on SpaceX over Starship, 'We need to get to Mars before I die'

The excerpt was obtained by Space.com and recounts the events leading up up to Starship being stacked on SpaceX's launch pad. According to the biography Musk enters "demon-mode" in a major way only two to three times a year, and during this period of time the CEO becomes hyper-focussed on reaching a specific goal, resulting in strenuous working hours, extreme pressure on staff, outbursts, and more. Isaacson writes that Musk did this at the Nevada battary factory, Fremont car plant, and at Twitter.

The goal behind this particular "demon-mode" was to receive approval from the Federal Aviation Administration (FAA) for Starship to fly, and Musk believed stacking Starship on the launch pad would cause enough public stir to light a fire under regulators, engineers at SpaceX, and himself - "We need to get to Mars before I die," he said. "There's no forcing function for getting us to Mars other than us, and sometimes that means me."

Continue reading: Elon Musk went 'demon-mode' on SpaceX over Starship, 'We need to get to Mars before I die' (full post)

X CEO reveals when Elon Musk's social media platform will be profitable

Jak Connor | Sep 28, 2023 3:29 AM CDT

The Elon Musk-appointed CEO of X, the social media platform formerly known as Twitter, has said the company is expected to become profitable early next year.

X CEO reveals when Elon Musk's social media platform will be profitable

Linda Yaccarino, the CEO of X, announced on stage at the Code Conference that X will be profitable by "early 2024," which will be an incredible achievement when taking into account that Twitter wasn't profitable for the first 13 years of its existence, and Musk only gained control of the company less than a year ago. This statement from Yaccarino is in line with what the X CEO has previously stated about the inner workings of the social media platform, as she stated in July that X was "pretty close to breakeven".

These massive drops in revenue for X came after Musk took over the platform, spooking many advertisers and causing them to stop ad expenditure on the platform. The concerns from advertisers were a result of Musk's overhaul of the content moderation system on then-Twitter and the platform's general approach toward what content can and cannot be on the platform.

Continue reading: X CEO reveals when Elon Musk's social media platform will be profitable (full post)

Snapchat hits more than 5 million users paying $3.99 a month

Jak Connor | Sep 25, 2023 3:46 AM CDT

More than 5 million people are paying for Snapchat's premium subscription service, indicating a growing number of Snapchat+ subscribers.

Snapchat hits more than 5 million users paying $3.99 a month

A new report from TechCrunch that cites Snapchat's announcement reveals that the popular app has signed on more than 5 million users to its premium subscription service designed for power users. The total number of users on Snapchat+ has steadily grown from 3 million users in mid-April to 4 million users in late June and now 5 million in September.

For those that don't know, Snapchat+ offers a range of features such as custom app themes, unique app icons, options to pin best friends, and tools to improve Stories and the ability to see who rewatched them. There are other features that may have attracted a new swath of users, such as Snapchat's AI chatbot Dreams. However, it's likely many new Snapchat+ subscribers came from Version's subscriptions store +Play.

Continue reading: Snapchat hits more than 5 million users paying $3.99 a month (full post)

UK government move to censor Russel Brand despite allegations not proving guilt

Jak Connor | Sep 21, 2023 3:47 AM CDT

A document has gone viral showcasing a move by the UK government to censor Russel Brand following numerous allegations.

UK government move to censor Russel Brand despite allegations not proving guilt

The actor, comedian, and pollical commentator was accused of rape, sexual assault, and emotional abuse between the years of 2006 and 2013. These allegations are yet to be proven, and Brand has denied their validity in a video posted to his social media platforms. Now, a document has surfaced on X that reveals the British Government is attempting to get Brand's social media platforms censored, which has been viewed by many as a way of manipulating the court of public opinion.

The document requests TikTok provide the UK government with information relating to Brand's monetization of content that has to do with the allegations. With the letter requesting, "We would be grateful if you could confirm whether Mr. Brand is able to monetize his TikTok posts, including his videos relating to the serious accusations against him, and what the platform is doing to ensure that creators are not able to use the platform to undermine the welfare of victims of inappropriate and potentially illegal behavior."

Continue reading: UK government move to censor Russel Brand despite allegations not proving guilt (full post)

Microsoft reveals its intention to buy Nintendo, but there's just one big problem

Jak Connor | Sep 20, 2023 12:40 PM CDT

Leaked documents between a Microsoft head and a senior Nintendo employee have revealed Microsoft's intention to purchase Nintendo.

Microsoft reveals its intention to buy Nintendo, but there's just one big problem

Emails between Phil Spencer, the Head of Xbox, Takeshi Numoto, Executive Vice President & Commercial Chief Marketing Officer at Microsoft, and Chris Capossela, EVP & Chief Marketing Officer at Microsoft, revealed a discussion about purchasing Nintendo, describing the company as the "THE prime asset for us in gaming". The email chains were leaked by the Federal Trade Commission (FTC) as a result of the Activision Blizzard acquisition by Microsoft.

Not only were emails leaked, but internal documents revealed plans for future Xbox consoles, along with unannounced games and more secret details. The idea for Microsoft to merge with Nintendo is clearly well thought out, as Spencer outlines that the company's Board of Directors has seen a "full writeup" of the possible merger, and that Microsoft's board is "fully supportive" if the opportunity presents itself.

Continue reading: Microsoft reveals its intention to buy Nintendo, but there's just one big problem (full post)

Elon Musk's brain-chip company Neuralink officially receives approval for human trials

Jak Connor | Sep 20, 2023 11:05 AM CDT

Elon Musk's brain chip company Neuralink is officially looking for its first human participants in an upcoming study, the first of its kind for the company.

Elon Musk's brain-chip company Neuralink officially receives approval for human trials

The search for study participants follows an independent review board evaluation that granted the company approval to test its product on humans over the course of a six-year study. For those that don't know, Musk's brain-chip company is one of the handful of companies attempting to create a viable brain-computer interface (BCI), essentially a device that is the bridge between the human brain and computers. Musk has said previously that Neuralink will be able to solve medical afflictions in the body, while also connecting humans with artificial intelligence.

It was only last year that the Food and Drug Administration (FDA) denied Neuralink's request to fast-track human trials. However, the regulator granted Neuralink an investigation device exemption (IDE), which enables the company to use a device for clinical studies, hence the call for human participants. As for who Neuralink is looking for, Elon Musk's brain-chip company is after patients with quadriplegia caused by a vertical spinal cord injury or ALS.

Continue reading: Elon Musk's brain-chip company Neuralink officially receives approval for human trials (full post)

DOJ reveals the stunning total Google spend on keeping its search engine front and center

Jak Connor | Sep 14, 2023 4:15 AM CDT

The Department of Justice (DOJ) is cracking down on the owners of the world's largest search engine by accusing the company of using agreements with big tech companies as a way of cornering the market.

DOJ reveals the stunning total Google spend on keeping its search engine front and center

A new report from the AP has dived into the relationship between the Department of Justice and Google regarding the company's agreements with tech giants such as Apple, Samsung, and Mozilla Firefox to make Google the default search engine across a large range of devices. The DOJ lawyers argue that these agreements were viewed by Google as "powerful tools" that kept the search engine market away from any competitors.

As you can probably already imagine, Google's lawyers denied any illegal use of its agreements, saying the company didn't use the agreements as a way to dominate the market, and that Google's market share is a result of the company creating superior products compared to its competitors. The DOJ lawyers accuse the goliath platform of using anticompetitive methods to prevent any potential competition from challenging Google's position.

Continue reading: DOJ reveals the stunning total Google spend on keeping its search engine front and center (full post)

Bill Gates says Elon Musk 'was super mean to me' after discovering his $500 million bet

Jak Connor | Sep 11, 2023 6:12 AM CDT

An upcoming biography about Elon Musk has shed some light on the relationship between the Tesla CEO and Bill Gates.

Bill Gates says Elon Musk 'was super mean to me' after discovering his $500 million bet

The excerpt from the biography titled "Elon Musk" comes from Walter Isaacson, who shadowed Musk for three years. The passage that highlights the relationship dates back to early 2022 when Gates was discussing philanthropy with Musk, pushing the Tesla CEO to donate to curing AIDS, mosquito eradication, and climate change-reducing projects. However, Musk discovered that Gates had a $500 million short against Tesla, which, for those that don't know trading terminology, means Gates has a $500 million bet that Tesla's share price will go down.

Isaacson asked Gates about the disagreement between the two billionaires, which is mostly tied to Musk saying to Gates, "Sorry. I cannot take your philanthropy on climate seriously when you have a massive short position against Tesla, the company doing the most to solve climate change." Gates told Isaacson, "Once he heard I'd shorted the stock, he was super mean to me, but he's super mean to so many people, so you can't take it too personally." Adding, "I apologized to him."

Continue reading: Bill Gates says Elon Musk 'was super mean to me' after discovering his $500 million bet (full post)