Urban Co. Grows 📈, M&M Inspects 🔎, Moody's Predicts 💭

Catch up on the latest in tech, business and startups - all in 5 minutes. [Newsletter Banner] Daily News Roundup Welcome to today's edition of the NextBigWhat Daily News! Today's top stories include Urban Company's growth, M&M inspection, and Moody's predictions. 📰 Help us reach your your friends and colleagues! Share the NextBigWhat newsletter. [Tweet it]( [Whatsapp]( Elon Musk to abolish blocking feature on Twitter - After acquiring Twitter, Musk intends to remove the blocking feature, but will retain it for direct messages. - Blocking safeguard that averts unwanted interactions will be replaced by muting, allowing muted users to still interact with public posts. - Chief Executive Officer Linda Yaccarino claims 99% of Twitter’s content remains ‘healthy’ amidst changes and a drop in ad revenue. Meta Readies to Release Open Source AI Code-Generating Bot: Code Llama - Meta’s upcoming AI model, Code Llama, is intended to compete with software from OpenAI and Google. - Expected to be released soon, Code Llama is open source and will be freely available online. - This new model aims to automate code suggestions for developers and is a part of Meta’s strategy of rolling out widely available AI software. Masters of Scale - Reid Hoffman: Dropbox’s Drew Houston (Podcast summary) [NBW Newsletter Ad]( Read how he outmaneuvered the big guys. Startups can succeed against established companies by identifying and utilizing their unique advantages, rather than trying to compete on the same terms. [Get it]( Urban Company Records 45.4% Revenue Growth and Shrinks Losses by 40% in FY23 - Urban Company’s operating revenue rose to Rs 637 crore in FY23, with on-demand home services accounting for 77.9% of the total income. - Overall expenses amounted to Rs 945 crore, and losses reduced by 40.1% to Rs 308 crore. - Despite protests from partners, the company invested Rs 250 crore in training and skilling 50,000 service partners and maintains operations in numerous global locations. Checkout.com severs relationship with Binance following regulatory concerns - Checkout.com has terminated its services to Binance over regulatory scrutiny. - Binance disagrees with Checkout’s reasons and is considering legal action. - The discontinuation occurs amidst Binance closing its own crypto pay service and disabling Binance Connect. Get NBW News: The short news app for busy professionals. [App Store]( [Google Play]( M&M announces inspection of over 108k XUVs for potential wiring problems - Mahindra will inspect 108,306 units of XUV700 due to potential damage risk to the wiring loom. - Another 3,560 units of XUV400 will also be inspected for issues with the brake potentiometer. - The inspection and rectification will be free of cost for customers, who will be contacted individually. SpaceX’s financial leaks showcase Elon Musk’s strategy for continuous growth - Financial leaks reveal SpaceX lost $559 million last year due to growth-focused investments, but revenue increased from $1 billion in 2015 to $4.6 billion last year. - SpaceX continues to prioritize growth, building the world’s largest rocket and expanding its satellite internet service, despite industry move towards cost-cutting. - SpaceX’s operating costs were about $3.1 billion in 2022, including significant costs for replacing Starlink satellites every five years and it also spent $153 million to repurchase stock from employees. US Federal Judge Rejects Racial Discrimination Lawsuit Against YouTube and Google - Judge dismisses racial discrimination lawsuit by non-white YouTube content creators against Google and YouTube. - Plaintiffs claimed the platform unfairly throttled and removed their content, which they believed was an alleged violation of YouTube’s race-neutral content policy. - Judge Vince Chhabria argued plaintiffs lacked strong enough evidence to prove algorithmic racism, ending a three-year legal battle. Moody’s Predicts India’s Growth Outpacing G20 Economies Despite Low Investment Grade - Moody’s maintains India’s rating at Baa3, with growth driven by domestic demand to overtake other G20 economies over the next two years. - Despite risks of populist policies due to rising political tensions, robust post-pandemic growth prospects support a strengthened monetary policy. - The stable outlook reflects manageable current account deficits, sufficient foreign-currency reserves, and resilient credit growth. Microsoft Withdraws AI-generated Article that Suggests Visiting a Food Bank as Tourist Attraction - Microsoft retracted an AI-created article that proposed a Canadian food bank as a tourist attraction. - The piece, which appeared on AI-aggregated news service Microsoft Start, was reported and removed after its controversial ‘going into it on an empty stomach’ suggestion. - Investigations are underway to understand how the article escaped the review process; meanwhile, other media outlets continue experimenting with AI-generated news. Reliance Jio Introduces New Prepaid Plan with Netflix Subscription - Reliance Jio announced a prepaid plan offering Netflix subscription for the first time. - There are two plans, the Rs 1,099 (84-day validity, 2GB daily data) and Rs 1,499 plan (84-day validity, 3GB daily data), both including Netflix and unlimited 5G data. - Jio Platforms CEO, Kiran Thomas, and VP of APAC Partnerships for Netflix, Tony Zameczkowski, praised the partnership and their shared commitment to delivering quality content and service. Microsoft’s Nadella Compares AI Importance To internet’s Impact in 1995 - Nadella compares AI to 1995 internet era, saying it’s equally impactful. - Considers the evolution of AI akin to Bill Gates’s famous 1995 ‘Internet Tidal Wave’ memo. - Gates’s memo highlighted internet as Microsoft’s future growth driver, transforming interaction in business and daily life. Arthur’s new tool ‘Arthur Bench’ assists in selecting top LLMs for specific data-sets - Arthur Bench is an open source tool for comparing different language learning models (LLMs). - It enables the testing of different prompts against multiple LLMs allowing firms to make more informed decisions. - While an open source project, a SaaS version will be available for those seeking larger testing capabilities. © 2023 Zakti Techmedia Pvt. Ltd. All rights reserved. | [Unsubscribe](