Business

Bullying works: after TikTok users complained about Chipotle’s inconsistent portion sizes, the company announced this week it is “doubling down” on training to ensure customers get “correct and generous portions.” It will cost the company $50 million, executives told analysts.

Researcher Alex Hanna, of Distributed AI Research Institute and previously of Google, reflects on what might come next:

After the dust settles and NVIDIA has stopped churning out shovels (e.g. H100s) for the gold rush, what will be left behind? Will data centers go the way of shopping malls? Likely not—they’ll be repurposed for other massive computing projects. But what about those climate pledges?

T-Mobile is creating a joint venture with the investment firm KKR to acquire Metronet, a service that provides fiber internet to over 2 million homes and businesses in 17 states.

As part of the deal, T-Mobile will invest $4.9 billion for a 50 percent stake in the joint venture and all of Metronet’s residential customers. In April, T-Mobile announced plans to acquire the fiber optic company Lumos as well.

Comcast’s earnings report today revealed that Peacock lost 500,000 subscribers in the months leading up to the Olympics — and Peacock’s planned price hike. Despite this, Peacock is pushing toward profitability with $1 billion in revenue and losses narrowing to $348 million.

Monthly active users increased by 14 percent year-over-year to 626 million, but 5 million short of Spotify’s expectations for the quarter. Subscribers also increased by 12 percent to 246 million, with Spotify reporting a record-high operating income of €266 million (about $288.8 million).

The growth timeline “exceeded even our own expectations,” said CEO Daniel Ek. “This all bodes very well for the future.”

JD Vance’s former coworkers say the vice presidential candidate wasn’t very good at being a venture capitalist. One person said he was too consumed with his book tour around Hillbilly Elegy to show up to work.

As CEO David Zaslav looks for ways to improve WBD’s financial situation, sources tell the Financial Times that he’s considering separating WBD’s streaming and movie business from its ailing legacy TV networks — a move that would sequester the new company from a mountain of debt.

Patrick Orlando, who once led Digital World Acquisition Corp, lied to the public when he said his SPAC didn’t have a target in its S-1 form. It definitely did: Trump Media, parent company of Donald Trump’s Truth Social. The SEC complaint is chock-full of his texts and emails. DWAC, incidentally, already settled a similar suit.

That’s according to the Financial Times, reporting that Meta is looking to further its partnership with EssilorLuxottica, the owner of Ray-Ban and so many other eyewear brands.

The Ray-Ban Meta smart glasses released last year now support multimodal AI to identify what wearers are seeing. They also sold more in a few months than the previous pair did in two years, according to EssilorLuxottica’s CEO.

That’s less than the $20 billion Adobe offered for the design platform company nearly two years ago, but investors buying in the secondary share sale included Coatue Management, General Catalyst Partners, Andreessen Horowitz, and Eddy Cue.

Figma left the Adobe deal with a $1 billion breakup fee, which, along with a big redesign, is part of why CEO Dylan Field remains optimistic.

Last spring, Business Insider noted that Intuit was unusual among its peers because it hadn’t done mass layoffs.

Following shutdowns of the Mint app and MailChimp-owned TinyLetter, CEO Sasan Goodarzi today announced layoffs, saying they include “approximately 1,050 employees leaving the company who are not meeting expectations.” as it accelerates investing in data and AI like its Assist bot.

The Finland-based Silo AI is described as the “largest private AI lab in Europe” and has provided AI solutions for companies like Phillps, Rolls-Royce, and Unilever. In addition to Silo AI, AMD also acquired the AI startup Nod.ai last year as it aims to keep up with the likes of Nvidia.

A CNN investigation found that Airbnb routinely ignores or silences, through settlements and NDAs, guests who find hidden cameras in their rentals’ bedrooms and bathrooms.

In one case, Airbnb told guests who found a camera pointed at their bed it wanted to get the host’s side of the story. It allowed him to continue hosting for months, even after being told he was under police investigation. Police eventually raided his property:

Among the more than 2,000 recovered images, law enforcement identified more than 30 victims, including several children. Many guests – who booked the same property either through Airbnb or Vrbo – were captured in various stages of undress. Some were recorded having sex.

Update: Altered the text for clarity.

A “special committee” of Paramount’s board approved a rumored merger with Skydance Media, which will be announced Monday, according to Bloomberg. The news could signal the end of the dramatic Paramount merger saga that’s been going on for months.

Time to pop the champagne? Perhaps. At least put it on ice. Maybe hold the glasses for a bit, though. We’ve been here before.