Cloudflare says AI made 1,100 jobs obsolete, even as revenue hit a record high
CloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.
Artificial Lawyer·
Garry Tan, the CEO of legendary investor Y Combinator, has waded into the ARR debate over how startups represent their revenues, and demanded that ‘founders ...
Read full articleCloudFlare announced its first large-scale layoff. CEO Matthew Prince says because of AI efficiency gains, the company doesn't need as many support roles.
Y Combinator-backed NewMod, Moritz, formerly Arcline, has raised $9m – including investment from founders from Reddit, Dropbox, HuggingFace, and many more senior tech industry figures. ...
Corgi, a new insurance company backed by Y Combinator, is now offering AI liability insurance – for both the AI companies providing the outputs, and ...
Founders are overcoming longstanding bottlenecks in product development
Apple’s Mac division outperformed Wall Street expectations in the second quarter, generating $8.4 billion in revenue — a 6% year-over-year increase that analysts had not anticipated. The company’s total revenue reached $111.2 billion, up 17% from the same period last year. CEO Tim Cook attributed part of the Mac’s strength to unexpectedly strong demand driven […]
Smartphone maker increased revenue nearly 17% as iPhone sales rise by a fifth
Meta reported a strong first quarter, with net income rising 61% year over year to $26.8 billion and revenue climbing 33% to $56.3 billion. Yet the results failed to reassure investors, with shares falling more than 5% in after-hours trading as attention turned to the company’s escalating AI expenditure. CEO Mark Zuckerberg confirmed that Meta […]
Soren, which is backed by Y Combinator, has launched what it calls ‘private AI’ aimed at regulated sectors that deal with highly sensitive information. They ...