Apple’s director of machine learning, Ian Goodfellow, is leaving the company due to its return to work policy, according to a tweet by Zoe Schiffer, a tech reporter with The Verge. Ride-hailing network provider Uber’s CEO has promised cutbacks on spending, CNBC reports. And the global tech-led sell-off after US monetary tightening has hit cryptocurrencies as well, with Bitcoin losing more than half its value from its November peak.
Notes:
Apple’s director of machine learning, Ian Goodfellow, is leaving the company due to its return-to-work policy, according to a tweet on May 8 by Zoe Schiffer, a tech reporter with The Verge. In a note to staff, Goodfellow said “I believe strongly that more flexibility would have been the best policy for my team,” according to Schiffer’s tweet, which has been picked up widely.
Uber, is the latest tech company to announce cutbacks, with money becoming less cheap, and investors looking elsewhere. The ride-hailing network provider will cut back on spending and focus on becoming a leaner business to address a “seismic shift” in investor sentiment, CEO Dara Khosrowshahi told employees in an email, CNBC reported on Monday.
Uber will slash spending on marketing and incentives and treat hiring as a “privilege,” Khosrowshahi said, according to CNBC. The world’s biggest tech companies have lost over a trillion dollars in value, as dumped stocks after central banks around the world raised the rates at which commercial banks could borrow from them.
Bitcoin fell below the $30,000 mark today as both traditional financial markets and cryptocurrencies suffered from a sell-off caused by the US Federal Reserve's monetary tightening as well as fears of a recession, CoinDesk reports.
The latest decline left bitcoin at a 10-month low and its lowest price this year, less than half the value that the cryptocurrency had in November last.
HCL Technologies is acquiring Confinale AG, a Switzerland-based digital banking and wealth management consulting specialist, India’s third-biggest IT services company said in a press release. The acquisition will help HCL expand its reach in the global wealth management market with an emphasis on consulting, implementation and management of banking software from Avaloq, another Swiss company, whose software is used by some 140 banks around the world.
Clearview AI, an American facial recognition surveillance company, has agreed to permanently ban most private companies from using its service under a court settlement, The Verge reports. The agreement, filed in a court in the US state of Illinois yesterday, would settle a 2020 American Civil Liberties Union lawsuit that alleged the company had built its business on facial recognition data taken without user consent.
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