Fintech stops hiring humans, mind control tech in development, Chanel appoints new designer, and more.

News from December 12 - December 19, 2024

Fintech Stops Hiring Humans 

Klarna CEO Sebastian Siemiatkowski revealed that the fintech giant has stopped hiring humans, replacing hundreds of jobs with AI. Headcount has dropped 22% to 3,500, with 200 employees relying on AI for core tasks. During its latest earnings, Klarna used an AI-generated version of Siemiatkowski to present results, which he said proves AI could eventually replace all jobs.

Klarna’s AI assistant now handles the work of 700 customer service agents. With 85 million global customers, Klarna prepares for a U.S. IPO and aims to become a U.S. bank, potentially committing $1 billion under Trump’s accelerated licensing offer.

Source 

Mind Control Tech In Development 

Precision Neuroscience has secured $102 million in funding, led by General Equity Holdings, raising its total to $155 million. Their Layer 7 device enables thought-based control of gadgets and is currently in testing.

Founded by ex-Neuralink co-founder Ben Rapoport, it competes with Elon Musk's Neuralink, which has raised over $685 million. Synchron, another competitor, demonstrated its tech with Mark, a 64-year-old with ALS, controlling his smart home using only his thoughts.

Synchron spokesperson: “This capability allows Mark to utilize the Synchron brain-computer interface to select customized tiles that perform pre-set Alexa actions, like turning on and off lights, making video calls, playing music and shows, controlling smart home devices, reading books on Kindle or purchasing items on Amazon—entirely hands and voice-free.”

Source 

Chanel Appoints New Designer 

Chanel has appointed Matthieu Blazy, former Bottega Veneta creative director, as its new artistic director. Blazy, known for his sophisticated craftsmanship, will oversee haute couture, ready-to-wear, and accessories.

He succeeds Virginie Viard, marking a break from Karl Lagerfeld's era. Chanel sees this as a long-term commitment, aiming to evolve while respecting its heritage.

Blazy's success at Bottega Veneta was key to his selection. Chanel expects him to reenergize the $19.7 billion fashion giant with a focus on product innovation and growth. Blazy will be expected to churn out 10 collections a year across haute couture, ready-to-wear, and Coco Beach and Coco Neige lines.

Source 

Bulletin Board

  • TikTok’s Emissions Higher Than Greece. TikTok's carbon footprint exceeds that of Greece, according to a new study. The analysis estimates the social media platform emits around 50 million metric tons of CO2 annually, surpassing the entire country's emissions. This is driven by TikTok's addictive design, with users generating greenhouse gases equivalent to driving an extra 123 miles per year on average. Source 
  • SoftBank Pledges $100 Billion Investment in US. President-elect Donald Trump and SoftBank CEO Masayoshi Son announced a $100 billion investment in U.S. companies, aiming to create 100,000 jobs in AI over four years. Son credited Trump's election victory for his confidence in the U.S. economy. Trump praised SoftBank's past $50 billion pledge and humorously challenged Son to double the new investment to $200 billion, which Son said he would try to achieve. The "Trump effect" was cited as motivation. Source  
  • Turkish Game Studio Raises $18 Million. Agave Games, creators of the viral mobile game Find the Cat, secured $18 million in Series A funding to expand its team and develop new titles. The game, launched in August, hit 10 million downloads in its first quarter. Felix Capital, Balderton Capital, and e2vc co-led the round. With this, Agave's total funding reaches $25.5 million, valuing it at about $100 million. The Turkish startup plans to release at least two more games in the next year, leveraging AI for game design but not coding. Source 
  • Humans Alarmed by Company’s Anti-Human Ads. Artisan's AI startup has sparked outrage with its "Stop Hiring Humans" campaign across San Francisco, promoting AI over human labor. The ads, featuring phrases like "Artisans won't complain about work-life balance," have been labeled a "dystopian nightmare." Despite the backlash, CEO Jaspar Carmichael-Jack claims the campaign successfully boosted brand awareness and sales. Carmichael-Jack: "They (ads) are somewhat dystopian, but so is AI." Source 
  • McLaren Sold to UAE. Abu Dhabi's CYVN Holdings has purchased McLaren Automotive for 1.2 billion pounds, taking over its automotive and racing sectors. This acquisition by the UAE-based fund aims to inject new technology and leadership into the British car manufacturer, marking a potential turnaround after financial difficulties. The future of McLaren’s operations, whether remaining in England or relocating to the UAE, remains uncertain. Source  

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