After years of easy money, the AI industry is facing a reckoning. A new report from Stanford’s Institute for Human-Centered Artificial Intelligence (HAI), which studies AI trends, found that global investment in AI fell for the second year in a row in 2023. Both private investment — that is, investments …...Read More

Equity is TechCrunch’s flagship podcast and airs every Monday, Wednesday and Friday. You can subscribe to us on Apple Podcasts, Overcast, Spotify, and all the casts. You also can follow Equity on X and Threads at @EquityPod. For the full interview transcript, for those who prefer reading over listening, read …...Read More

Jio Financial, BlackRock form JV for wealth management and broking in India Jio Financial Services, part of the Indian conglomerate Reliance, is forming a joint venture with U.S. asset manager BlackRock to set up a wealth management and stock broking business in India, the two firms said Monday. The announcement …...Read More

Like many immigrants, the New York City skyline was one of the first sights young brothers Edi and Etrit Demaj took in when they arrived in the U.S. over 20 years ago. The pair, along with their family, had fled violence in their native Kosovo, and they still remember the …...Read More

Layoffs usually drive attention and sympathy towards affected employees, but rarely does anyone talk about what happens to the recruiters who are sometimes also asked to leave when companies decide to cut headcount. Indeed, tech firms cut up to half of their recruitment teams when they were laying people off …...Read More

Adobe says it’s building an AI model to generate video. But it’s not revealing when this model will launch, exactly — or much about it besides the fact that it exists. Offered as an answer of sorts to OpenAI’s Sora, Google’s Imagen 2 and models from the growing number of …...Read More

Companies that offer role referral bonuses do so with the assumption that their employees know their work culture — and a role’s requirements — best. But what if companies were to open up those referral bonuses to people outside the organization? That’s the idea behind Draftboard, co-founded by Zach Roseman, …...Read More

Nearly two dozen civil society groups and non-profits have written an open letter to the European Data Protection Board (EDPB), urging it not to endorse a strategy used by Meta that they say is intended to bypass the EU’s privacy protections for commercial gain. The letter comes ahead of a …...Read More

Meta said on Monday that it plans to “temporarily” shutter Threads in Turkey from April 29, in response to an interim injunction imposed by the Turkish competition authority last month over the way Meta shares data between Threads and Instagram. The Turkish Competition Authority (TCA), known as Rekabet Kurumu, noted …...Read More

Tesla is laying off thousands of employees as it tries to simultaneously cut costs and boost productivity, according to an internal email sent to staff by CEO Elon Musk, Electrek and Bloomberg News reported. The electric automaker is cutting “more than 10%” of its global headcount, Musk said in the …...Read More