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Tag: Alphabet

  • Google CEO Sundar Pichai Accused of Intentionally Deleting Communications

    Google CEO Sundar Pichai Accused of Intentionally Deleting Communications

    Google CEO Sundar Pichai is accused of intentionally deleting company communication in violation of US retention laws.

    Companies in the US are legally required to retain communications if they have reason to believe they may be involved in legal action. The Department of Justice has already accused Google of ‘systematically destroying’ communications related to its antitrust case. The DOJ maintains that Google intentionally had its various chat platforms set to auto-delete messages every 24 hours, despite telling US authorities that it had suspended such operation.

    The DOJ, as well as Epic Games and others, are now accusing Pichai of being involved in the deletion, effectively creating a top-down culture of hiding relevant information, according to FOSS Patents. In the latest claim, the plaintiffs make the following claim:

    “The newly produced Chats reveal a company-wide culture of concealment coming from the very top, including CEO Sundar Pichai, who is a custodian in this case. In one Chat, Mr. Pichai began discussing a substantive topic, and then immediately wrote: ‘[REDACTED]’ Then, nine seconds later, Mr. Pichai [REDACTED]. […] When asked under oath [REDACTED]’ (Id. Ex. 2, Pichai Dep. Tr. 195:7-12.)

    “Like Mr. Pichai, other key Google employees, including those in leadership roles, routinely opted to move from history-on rooms to history-off Chats to hold sensitive conversations, even though they knew they were subject to legal holds. Indeed, they did so even when discussing topics they knew were covered by the litigation holds in order to avoid leaving a record that could be produced in litigation.” (emphasis in original)

    The plaintiffs, including the Utah Attorney General, asked the court to issue an adverse ruling that Google was trying to hide something by deleting the messages. The court had previously indicated that it would not issue a ruling telling jurors they must conclude the deleted messages are indicative of Google intentionally hiding something, but the plaintiffs say this latest revelation provides enough evidence that that is exactly what Google and its executives were trying to do.

    In light of the recently produced documents, anything less than a clear adverse inference instruction — instructing the jury as to what Google did and what the jury should make of it — would reward Google for its years-long, calculated policy of systematically destroying evidence, and would encourage Google to maintain, rather than eradicate, the corporate culture of litigation misconduct it has nurtured for many years.

    If the plaintiffs are able to prevail upon the court and convince it to render such a judgment, it would be catastrophic for Google’s case.

    Eileen Scallen, a professor at the UCLA School of Law, previously told CNBC that an adverse jury instruction would be “very damning.”

    “The one person the jury respects in a courtroom is the trial judge,” Scallen said. “And if the trial judge is telling them you can presume that this was bad news for Google, they’re going to take that to heart.”

  • Sundar Pichai Unveils Google’s ChatGPT Answer: Bard

    Sundar Pichai Unveils Google’s ChatGPT Answer: Bard

    Alphabet CEO Sundar Pichai has unveiled Bard, Google’s conversational AI and answer to OpenAI’s ChatGPT.

    Pichai previously signaled a company “code red” in response to ChatGPT’s popularity. Executives were so concerned about ChatGPT that founders Larry Page and Sergey Brin came back to help the company come up with an answer.

    In a blog post, Pichai took the wraps off of the company’s efforts:

    It’s a really exciting time to be working on these technologies as we translate deep research and breakthroughs into products that truly help people. That’s the journey we’ve been on with large language models. Two years ago we unveiled next-generation language and conversation capabilities powered by our Language Model for Dialogue Applications (or LaMDA for short).

    We’ve been working on an experimental conversational AI service, powered by LaMDA, that we’re calling Bard. And today, we’re taking another step forward by opening it up to trusted testers ahead of making it more widely available to the public in the coming weeks.

    Pichai touted the many ways Bard can be used:

    Bard seeks to combine the breadth of the world’s knowledge with the power, intelligence and creativity of our large language models. It draws on information from the web to provide fresh, high-quality responses. Bard can be an outlet for creativity, and a launchpad for curiosity, helping you to explain new discoveries from NASA’s James Webb Space Telescope to a 9-year-old, or learn more about the best strikers in football right now, and then get drills to build your skills.

    Pichai also makes clear the company’s intention to aggressively integrate Bard and similar tech into its core search:

    AI can be helpful in these moments, synthesizing insights for questions where there’s no one right answer. Soon, you’ll see AI-powered features in Search that distill complex information and multiple perspectives into easy-to-digest formats, so you can quickly understand the big picture and learn more from the web: whether that’s seeking out additional perspectives, like blogs from people who play both piano and guitar, or going deeper on a related topic, like steps to get started as a beginner. These new AI features will begin rolling out on Google Search soon.

    With Microsoft planning to unveil ChatGPT-powered Bing search and Google moving forward with Bard, the search industry is on the verge of a major evolution.

  • Google Cloud May Be Alphabet’s Saving Grace in Tomorrow’s Earnings

    Google Cloud May Be Alphabet’s Saving Grace in Tomorrow’s Earnings

    Alphabet is poised to deliver its Q4 2022 earnings tomorrow, and analysts are looking to Google Cloud to be the bright spot.

    Alphabet, like many in the tech industry, has had a rough few months. The company is facing antitrust action by the US government, new threats to its core business, and a economic downturn that has resulted in its first-ever layoffs.

    With the company reporting its earnings tomorrow, analysts are looking to Google Cloud to be one of the driving elements to the company’s performance.

    “Alphabet’s fourth-quarter 2022 results, scheduled to be released on Feb 2, are likely to reflect gains from its strengthening cloud service offerings,” writes Zacks.com.

    “The Google Cloud segment, which derives revenues from fees collected for Google Cloud Platform services and Google Workspace collaboration tools, has constantly been driving substantial revenue growth for Alphabet,” Zacks continues.

    Cloud computing has, in general, weathered the economic downturn better than many other segments of the tech industry. Alphabet’s earnings tomorrow may shed light on just how resilient the cloud industry really is.

  • Major Google Investor Wants Company to Lay Off 30,000

    Major Google Investor Wants Company to Lay Off 30,000

    A major Google investor doesn’t believe the company’s 12,000 job cuts are enough and is calling for 30,000 instead.

    Sir Christopher Hohn runs The Children’s Investment Fund. He was already a proponent of layoffs, raising the possibility to Google leaders in November, according to The Register.

    In an open letter to Alphabet CEO Sundar Pichai, Hohn makes the case that the company’s recently announced layoffs don’t go far enough.

    “The decision to cut 12,000 jobs is a step in the right direction, but it does not even reverse the very strong headcount growth of 2022,” he writes. “Ultimately management will need to go further.”

    “I believe that management should aim to reduce headcount to around 150,000, which is in line with Alphabet’s headcount at the end of 2021. This would require a total headcount reduction in the order of 20%,” he added.

    Interestingly, Hohn takes aim at “excessive employee compensation” as well, saying the median salary at Alphabet was almost $300,000 in 2021, with the average being even higher.

    That specific criticism is — shall we say — “interesting,” coming from an individual who reportedly paid himself a whopping $690 million salary, or $1.8 million per day, in 2022.

  • Alphabet CEO Announces ‘Difficult Decision’ to Lay Off 12,000

    Alphabet CEO Announces ‘Difficult Decision’ to Lay Off 12,000

    Google parent Alphabet has now firmly joined the ranks of companies laying off employees, with plans to cut 12,000 jobs.

    Two of Alphabet’s “Other Bets” companies, Intrinsic and Verily, announced layoffs last week, but today the company announced mass layoffs at its core: Google and Alphabet. In an email, which later became a blog post, CEO Sundar Pichai said the company would be laying off some 12,000 employees, surpassing both Microsoft and Meta’s numbers.

    In his memo to employees, Pichai called the move “a difficult decision to set us up for the future.”

    I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 roles. We’ve already sent a separate email to employees in the US who are affected. In other countries, this process will take longer due to local laws and practices.

    This will mean saying goodbye to some incredibly talented people we worked hard to hire and have loved working with. I’m deeply sorry for that. The fact that these changes will impact the lives of Googlers weighs heavily on me, and I take full responsibility for the decisions that led us here.

    Like many other executives announcing layoffs, Pichai blamed it on a changed economic reality from the one that led to the frenzied hiring of the past couple of years.

    Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today.

    Interestingly, Pichai said the layoffs were in response to a review of the company’s personnel and roles in an effort to identify “people and roles are aligned with our highest priorities as a company.” This statement seems to confirm fears Googlers had in December that new evaluation methods were being used as a prelude to layoffs.

    Pichai says impacted US employees have already been notified, although notifying international employees will take longer because of local laws. In the meantime, employees will continue to be paid during the notification period, a minimum of 60 days.

    Alphabet is also offering a severance package that starts at 16 weeks’ pay, plus an additional two weeks for every year at the company. The company will also accelerate a minimum of 16 weeks GSU vesting.

    The company also plans to pay all 2022 bonuses and vacation time and provide six months of healthcare, job placements, and immigration assistance.

    Pichai tried to reassure employees that the company was well-positioned for the future, despite the layoffs.

    All this work is a continuation of the “healthy disregard for the impossible” that’s been core to our culture from the beginning. When I look around Google today, I see that same spirit and energy driving our efforts. That’s why I remain optimistic about our ability to deliver on our mission, even on our toughest days. Today is certainly one of them.

    Regardless of how Pichai spins it, the fact remains that these layoffs are a major black mark on Alphabet and Google’s reputation. The company has long prided itself on never laying people off. With this announcement, however, the company has managed to lay off more employees than any other company in the last year except Amazon.

    Future tech talent looking for a company to spend their career at may well remember this.

  • Alphabet’s Intrinsic and Verily Lay Off Staff

    Alphabet’s Intrinsic and Verily Lay Off Staff

    Alphabet has finally joined the long list of companies laying off employees, with its Intrinsic and Verily divisions impacted.

    Alphabet has long prided itself on never conducting layoffs, but that record has finally been broken. The company’s robotics division, Intrinsic, as well as Verily, its health science business, have both announced layoffs.

    “I have promised you all transparency in what we’re doing, and this means we have eliminated approximately 15 percent of Verily roles due to discontinued programs, full control of Granular and Onduo, and redundancy in the new, centralized organization,” wrote Verily CEO Stephen Gillett.

    An Intrinsic spokesperson gave a similar statement to TechCrunch:

    “Intrinsic’s leadership has made the difficult decision to let go a number of our team members,” the spokesperson said. “We have communicated the news directly with them. We fully acknowledge how hard this will be and are offering as much proactive support as possible. This decision was made in light of shifts in prioritization and our longer-term strategic direction. It will ensure Intrinsic can continue to allocate resources to our highest priority initiatives, such as building our software and AI platform, integrating the recent strategic acquisitions of Vicarious and OSRC (commercial arm Open Robotics), and working with key industry partners. While incredibly tough to do, we believe this decision is necessary for us to continue our mission.”

    Alphabet’s layoffs are the latest warning signs regarding the state of the economy. While it’s one thing for a startup with limited funds to lay off employees, it’s another thing entirely for a company with Alphabet’s resources to lay off staff — especially when it has prided itself on avoiding that plan of action for decades.

  • Alphabet CEO Sundar Pichai Will Not Be Questioned in Privacy Suit

    Alphabet CEO Sundar Pichai Will Not Be Questioned in Privacy Suit

    Google scored a major victory in the privacy lawsuit it is facing in California, with a judge ruling that Sundar Pichai cannot be questioned.

    Google is facing a legal challenge over its Chrome browser’s Incognito mode. Incognito mode is supposed to prevent Google from collecting data about the user’s web browsing, but the plaintiffs allege that the company continued data collection even when the mode was activated.

    According to Reuters, the plaintiffs wanted to question Pichai, but the judged ruled that his position as a high-ranking officer of the company would likely preclude him from having “unique knowledge” of the situation. The issue goes to the “apex doctrine,” where plaintiffs have an uphill battle to prove that those at the very top of a company know enough about day-to-day operations to justify questioning them.

    “The challenge presented by the apex doctrine is whether a senior executive has relevant information to a particular subject,” US Magistrate Judge Susan van Keulen wrote, saying that Chrome’s Incognito mode was already the “subject of extensive discovery and testimony in this action.”

  • Steve Jobs Was Right, and Tech Firms Are Screwing Up With Mass Layoffs

    Steve Jobs Was Right, and Tech Firms Are Screwing Up With Mass Layoffs

    Tech firms are setting themselves up for problems by not following the Steve Jobs playbook for responding to an economic downturn.

    Companies across the tech industry have started freezing hiring or laying off employees, including Alphabet, Microsoft, Meta, Oracle, Shopify, Tesla, and others. According to Business Insider’s Sawdah Bhaimiya, that strategy is a mistake that will come back to haunt those companies.

    Bhaimiya makes the case that each layoff tarnishes a company’s reputation and brand and will hurt its ability to attract top talent down the road.

    “Every time I see a notice in the news that such and such technology company has cut X percentage of their workforce, I don’t forget that,” Danny Allen, chief technology officer at software firm Veeam, told Bhaimiya. “So you’re sending a message that also has a brand impact that you don’t necessarily want to be associated with.

    “Employees remember and people looking for jobs remember how organizations acted during the economic downturn.”

    Allen went on to expound on the two specific ways layoffs hurt a company:

    “One is simply the loss of innovation, cutting resources,” said Allen. “You’re cutting your investment in future technology, that’s number one. Number two, when you cut 10% of your workforce, you’re sending the message to your employees that we care more about money than we do about you.

    “And employees have a long memory, so if you’re cutting people that uncertainty is very disconcerting.”

    How Steve Jobs and Apple Thought Different

    Interestingly, Steve Jobs had a very different approach to dealing with an economic downturn, arguably one far worse than the current downturn.

    “We’ve had one of these before, when the dot-com bubble burst,” Jobs said. “What I told our company was that we were just going to invest our way through the downturn, that we weren’t going to lay off people, that we’d taken a tremendous amount of effort to get them into Apple in the first place — the last thing we were going to do is lay them off. And we were going to keep funding. In fact we were going to up our R&D budget so that we would be ahead of our competitors when the downturn was over. And that’s exactly what we did. And it worked. And that’s exactly what we’ll do this time.”

    Jobs’ approach is the very opposite of what current companies are doing and directly addresses the two issues Allen raises:

    • Rather than risking innovation by losing some of its best people, Apple doubled down, intent on innovating through the downturn rather than simply trying to weather it and pick up innovation afterward.
    • Jobs reiterated the value he and the company placed on the people who worked there. As Jobs said, Apple had put forth a tremendous amount of effort getting the people it had. Why lose them over a temporary downturn?

    It’s safe to say Jobs’ approach is a significant factor in Apple being where it is today. The company’s innovation continued unabated, and its employees felt respected and valued, confident the company had their backs.

    Today’s tech companies should take note…or pay the price later.

  • Alphabet Is Blockchain’s Biggest Corporate Investor

    Alphabet Is Blockchain’s Biggest Corporate Investor

    Alphabet is the biggest corporate investor in blockchain and crypto technology among the top 100 public companies over the last ten months.

    The crypto market is currently taking a beating, but that hasn’t stopped companies of all sizes from continuing to invest in crypto and blockchain tech. According to Blockdata, Alphabet is the top investor in blockchain technology among the top 100 public companies.

    Between September 2021 and June 2022, Google invested a staggering $1.5 billion in blockchain technology. Asset manager BlackRock came in second, with $1.17 billion. Morgan Stanley rounded out the top three with $1.11 billion.

    Other top companies included Microsoft, Samsung, Goldman Sachs, PayPal, LG, Wells Fargo, and more.

    Despite the current downturn, the continued support and investment from some of the world’s largest companies will help ensure the technology’s continued growth and adoption.

  • Sundar Pichai: Google to Invest $1.2 Billion in Latin America Over the Next Five Years

    Sundar Pichai: Google to Invest $1.2 Billion in Latin America Over the Next Five Years

    Google CEO Sundar Pichai has written a blog post outlining the company’s plans for Latin America, including a $1.2 billion investment over the next five years.

    Pichai is well-known for his belief in using technology to help drive opportunity. Late last year, Pichai announced Google’s intention to invest some $1 billion in Africa, and he has now outlined his company’s plans to invest $1.2 billion in Latin America.

    “At Google, we see that potential today in Latin America,” Pichai writes. “Communities have been hit hard by the pandemic, and closing digital access gaps will be vital to an inclusive recovery.

    “We’ve been investing in Latin America over the last 17 years, and today we’re announcing a five-year, $1.2 billion commitment to the region,” he adds. “We will focus on four areas where we believe we can best help the region to thrive: digital infrastructure, digital skills, entrepreneurship and inclusive, sustainable communities.”

    As part of its investment, Google has set aside $300 million, $50 million in cash grants and $250 million donated ads, to support nonprofits. In particular, the company wants to support organizations that are focused on sustainability, as well as developing opportunities for women and young people.

  • New York Times Tech Workers Certify Their Union

    New York Times Tech Workers Certify Their Union

    The Times Tech Guild is now the biggest US-based tech union with bargaining rights, following a National Labor Relations Board election certifying their union.

    The Times tech workers voted to unionize in April 2021, but Thursday’s vote is a major milestone, giving the union the ability to collectively bargain on behalf of its members. According to Katie Robertson, writing for the Times, the vote passed 404 to 88.

    “We’re just elated and really soaking in what this means, not only for us as tech workers at The Times and for The New York Times but also for the tech industry as a whole,” said Nozlee Samadzadeh, a senior software engineer. “I think this is going to be the start of a wave of organizing in the tech industry.”

    The news is the latest evidence of a growing trend in the tech industry. Once almost unheard of, tech employees have increasingly been unionizing in an effort to improve their pay and working conditions, or to have more say in how their companies do business.

    Kickstarter employees were one of the first to form a union within the US tech industry, followed soon after by Google/Alphabet workers. The Alphabet Workers Union made it clear that one of their primary goals was to help direct the company’s actions.

    “This union builds upon years of courageous organizing by Google workers,” said Nicki Anselmo, Program Manager, when the AWU was formed. “From fighting the ‘real names’ policy, to opposing Project Maven, to protesting the egregious, multi-million dollar payouts that have been given to executives who’ve committed sexual harassment, we’ve seen first-hand that Alphabet responds when we act collectively. Our new union provides a sustainable structure to ensure that our shared values as Alphabet employees are respected even after the headlines fade.”

    Times spokeswoman Danielle Rhoades Ha, said The Times welcomed the opportunity to work with the union.

    “We continue to believe this election process was critical so our colleagues could learn more about the union, hear both sides of the argument and, ultimately, make an informed decision,” she said.

  • Programmers Beware: A New AI Can Program As Good As a Human

    Programmers Beware: A New AI Can Program As Good As a Human

    As if the programming landscape wasn’t competitive enough, a new AI, AlphaCode, could start giving some programmers a run for their money.

    Created by DeepMind, Alphabet’s AI company, AlphaCode was designed to write “computer programs at a competitive level.” The company appears to have achieved its goal, with AlphaCode achieving “an estimated rank within the top 54% of participants in programming competitions.”

    Essentially what Deepmind is saying is that AlphaCode is competitive with the average human programmer, although it still can’t match truly gifted ones. Nonetheless, even that accomplishment is a major step forward and a significant victory for AI development.

    I can safely say the results of AlphaCode exceeded my expectations. I was sceptical because even in simple competitive problems it is often required not only to implement the algorithm, but also (and this is the most difficult part) to invent it. AlphaCode managed to perform at the level of a promising new competitor. I can’t wait to see what lies ahead!

    Mike Mirzayanov, Founder of Codeforces, a platform that hosts coding competitions.

  • Google Has No Plans to Adjust Employee Pay for Inflation

    Google Has No Plans to Adjust Employee Pay for Inflation

    Despite the highest inflation rate increase since 1982, Google has said it has no plans to adjust employee pay to compensate.

    US inflation is at near-record levels, hitting 6.8% in November, the highest jump since 1982. Some companies are responding accordingly, paying employees more to help them make ends meet.

    Google is not in that camp, according to Business Insider, telling employees it has no plans to adjust pay for inflation.

    “We don’t have any plans to do any type of across-the-board type adjustment,” said Frank Wagner, Google’s vice president of compensation, in response to a staff question that CEO Sundar Pichai read at a special meeting.

    That’s not to say that Google isn’t giving its employees bonuses. The company announced a $1,600 cash bonus after delaying its return-to-office date yet again.

  • The Oculus Brand Is No More

    The Oculus Brand Is No More

    Facebook is killing off the Oculus brand on the heels of its “Meta” rebrand.

    Facebook made headlines Thursday when it announced its anticipated rebrand. The company chose the name Meta, a nod to its attempt to build a “metaverse” where AR, VR and in-person reality converge. Like the Alphabet/Google relationship, Meta will be the parent company, with Facebook one of the brands under its umbrella.

    In his post revealing the rebrand, CEO Mark Zuckerberg said none of the company’s brands would change.

    Our mission remains the same — it’s still about bringing people together. Our apps and their brands aren’t changing either. We’re still the company that designs technology around people.

    Despite that, it appears the company is doing exactly what Zuckerberg said they wouldn’t and are killing off the Oculus brand. In a post of his own, Andrew Bosworth, VP of AR/VR, said the Oculus brand is no more.

    Starting in early 2022, you’ll start to see the shift from Oculus Quest from Facebook to Meta Quest and Oculus App to Meta Quest App over time.

    We all have a strong attachment to the Oculus brand, and this was a very difficult decision to make. While we’re changing the brand of the hardware, Oculus will continue to be a core part of our DNA and will live on in things like software and developer tools.

    Only time will tell what other changes are in store following the company’s rebrand.

  • Facebook Rebrands as ‘Meta’

    Facebook Rebrands as ‘Meta’

    Facebook has followed through on rumored plans to rename itself, going with the name “Meta.”

    Facebook was rumored to be considering a name change to better reflect its various endeavors and to distance itself from the scrutiny it has garnered. CEO Mark Zuckerberg announced in a post that the company would rebrand itself as Meta.

    To reflect who we are and the future we hope to build, I’m proud to share that our company is now Meta.

    The move is reminiscent of Google’s rebrand, when Google become one of many brands under the Alphabet parent company. Zuckerberg seems to be taking the same approach, with Facebook being relegated to just one of the company’s many brands — including Instagram, WhatsApp and Oculus — under the new Meta parent.

    Zuckerberg said the rebrand will allow the company to focus on “the metaverse,” its term for the convergence of visual reality, augmented reality and in-person reality.

    From now on, we will be metaverse-first, not Facebook-first. That means that over time you won’t need a Facebook account to use our other services. As our new brand starts showing up in our products, I hope people around the world come to know the Meta brand and the future we stand for.

    It remains to be seen if the rebrand will be successful, especially in helping the company move away from the scrutiny it’s under.

  • Facebook May Change Its Name

    Facebook May Change Its Name

    Facebook is considering the possibility of changing its name, both to better reflect its future ambitions and distance itself from existing scrutiny.

    Few companies are more well-known, or less favorably viewed, than Facebook. Nonetheless, the company is the 800-pound gorilla among social media platforms, and has bought up smaller rivals, like Instagram and WhatsApp, further cementing its lead.

    Despite its roots, Facebooks is devoting considerable resources to what it calls “the metaverse,” a mixture of virtual, augmented and in-person reality. Sources told The Verge that the new name is a closely-guarded secret within the company, with Zuckerberg likely to unveil it October 28 at the company’s Connect conference.

    It seems likely Facebook may go a similar route as Google, placing Facebook, Instagram, WhatsApp, Oculus and its other properties underneath a parent company, the equivalent of Google’s Alphabet.

    No matter how well-planned or how valid the reasons, a name change is always a risky proposition for an established brand. Only time will tell if Facebook’s gamble will pay off.

  • Google Looks to Reinvent Industrial Robots With Intrinsic

    Google Looks to Reinvent Industrial Robots With Intrinsic

    Google has launched Intrinsic from X, its moonshot factory, in an effort to reinvent industrial robots.

    Intrinsic CEO Wendy Tan-White made the announcement via a blog post.

    Intrinsic is working to unlock the creative and economic potential of industrial robotics for millions more businesses, entrepreneurs, and developers. We’re developing software tools designed to make industrial robots (which are used to make everything from solar panels to cars) easier to use, less costly and more flexible, so that more people can use them to make new products, businesses and services.

    Alphabet and Intrinsic see easier-to-use, less expensive robotics as a way to help countries around the world improve their manufacturing processes.

    By unlocking access to these incredible productivity tools, we hope to support a shift towards a more sustainable and equitable way of making things. Currently just 10 countries manufacture 70% of the world’s goods. This means most things are made far away from their end consumers, which drives global transport emissions, and many countries and businesses miss out on economic opportunities. Even countries with strong manufacturing sectors need help meeting demand: the US manufacturing industry alone is expected to have 2.1 million unfilled jobs by 2030.

    While Alphabet’s X division has a mixed track record, in terms of building successful companies, Intrinsic certainly seems poised for success, addressing a viable need.

  • TSMC Turns in Record Quarter, Warns of Ongoing Shortages

    TSMC Turns in Record Quarter, Warns of Ongoing Shortages

    TSMC reported its quarterly earnings, including record sales and an 11% increase in revenue.

    TSMC is the world’s leading semiconductor manufacturer. The company is the primary chip-maker for Apple, and also makes chips for Intel, Qualcomm, AMD, NVIDIA, Alphabet and others.

    The company has now reported record revenue of $13.29 billion, a 28% increase. Net profit was up 11%, coming in at $4.81 billion.

    “Our second quarter business was mainly driven by continued strength in HPC and Automotive-related demand,” said Wendell Huang, VP and Chief Financial Officer of TSMC. “Moving into third quarter 2021, we expect our business to be supported by strong demand for our industry-leading 5nm and 7nm technologies, driven by all four growth platforms, which are smartphone, HPC, IoT and Automotive-related applications.”

    TSMC is projecting third-quarter revenue to come in somewhere between $14.6 billion and $14.9 billion.

    According to Bloomberg, the company also warned chip shortages could continue into next year, although automakers may see some relief as early as this quarter.

  • Microsoft Joins Exclusive $2 Trillion Club

    Microsoft Joins Exclusive $2 Trillion Club

    Microsoft has become just the third company in the world to cross $2 trillion valuation.

    Only a few companies have crossed the $1 trillion threshold, including PetroChina, Apple, Amazon, Microsoft, Saudi Aramco and Alphabet. Of those companies, only Saudi Aramco and Apple had previously crossed $2 trillion.

    Microsoft now joins the $2 trillion dollar club, becoming only the third company to do so. Much of the company’s success is as a result of Satya Nadella’s leadership. Under Nadella, Microsoft has shifted its focus to the cloud, becoming the second-largest cloud platform.

    Nadella has also lead Microsoft toward becoming a better team player in the larger tech industry. The company was once known for brutal competitiveness, squashing threats with a vengeance and using its dominance on the desktop to do so. Such behavior landed the company in hot water with the government, leading to the landmark antitrust trial of the early 2000s.

    In recent times, the company has stopped focusing so much on protecting its own desktop OS and, instead, has pivoted to making its software and services available on a wide array of platforms. The company has also embraced open source software, and is a major contributor to a number of important projects.

    All of this has lead the company to new heights, while also helping it avoid much of the antitrust scrutiny its rivals are currently under. If there was any doubt about the direction Nadella has led the company, crossing this most recent threshold is a major validation of his leadership.

  • Telecom Companies Win Injunction Against NY Affordable Broadband Act

    Telecom Companies Win Injunction Against NY Affordable Broadband Act

    Telecom companies have won a last-minute injunction against New York’s Affordable Broadband Act, putting the law’s future in jeopardy.

    Governor Cuomo signed the Affordable Broadband Act in April, with it slated to go into effect next week. New York’s Eastern District Judge Dennis R. Hurley has sided with the telecom industry, acknowledging the law could cause “irreparable harm if the injunction is not granted.”

    When Cuomo signed the law in April, former Alphabet CEO Eric Schmidt was present, lending his support. The law has been opposed from the very beginning, however, by some of the biggest names in the telecom industry, including Verizon, T-Mobile and AT&T.

    It remains to be seen if the law will survive the current challenge but, so far, it’s not looking good. Judge Hurley seemed especially concerned with the impact that law would have on smaller companies.

    “While a telecommunications giant like Verizon may be able to absorb such a loss, others may not: the Champlain Telephone Company, for example, ‘estimates that nearly half [approximately 48%] of [its] existing broadband customers will qualify for discounted rates,” with each such customer ‘caus[ing] a monetary loss.’”

  • TSMC and MIT Leapfrog IBM, Make 1nm Breakthrough

    TSMC and MIT Leapfrog IBM, Make 1nm Breakthrough

    TSMC and MIT have made a major advancement in semiconductor design, with a 1nm breakthrough.

    TSMC is a global leader in the semiconductor industry. The company makes chips for Apple, Qualcomm, AMD, NVIDIA, Alphabet, Huawei and Intel. Currently, TSMC uses 5nm chips. AMD is working to transition to 5nm and Intel is still struggling to move to 7nm. IBM made headlines when it announced it had made a breakthrough on 2nm chips, although they aren’t expected for another four years.

    MIT and TSMC have now one-upped IBM, according to Taiwan News, making a major breakthrough with 1nm chips. The discovery was initially made by MIT, although MIT’s researchers were using TSMC components.

    The announcement is further bad news for Intel. Once the leader in semiconductor design, Intel has increasingly faced supply and development issues, leading it to turn to TSMC to outsource some production. With TSMC now closing in on 1nm, the gap between the two companies will only continue to widen.