 | Oct 22, 2024 | |
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Happy Tuesday! Walt Disney Co. named its new chairman. Meta's Ray-Ban smart glasses are selling well in Europe, according to the Ray-Ban brand's owner. News Corp. sued artificial intelligence search startup Perplexity.
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| Walt Disney Co. named former Morgan Stanley CEO Jim Gorman as its new chairman, effective Jan. 2, succeeding Nike chairman Mark Parker. Disney also said it expected to announce a new CEO, succeeding Bob Iger, in early 2026. Gorman's appointment demonstrates his growing influence at Disney since he joined the board of the entertainment company last November. Two months ago he was named chair of the board's succession planning committee, which is looking for a new CEO. He replaced Parker in that role as well. The CEO search has taken on immense significance for Disney, given the disastrous tenure of Bob Chapek, who succeeded Iger in early 2020 but was ousted at the end of 2022 when Iger was brought back. | | |
| Meta's Ray-Ban smart glasses are the best-seller in 60% of the Ray-Ban stores in Europe, EssilorLuxottica CFO Stefano Grassi said on Monday, a sign of how popular the smart-glasses have become. EssilorLuxottica, a global eyewear giant and owner of the Ray-Ban brand, is Meta's partner on the smartglasses, which let people stream music, make phone calls and take photos. Neither company has issued any details about how well the glasses have sold, until Grassi's comments on Monday. Essilor and Meta said last month they had extended their partnership "into the next decade." On an analyst call on Monday, Grassi said there were "certain aspects of exclusivity" to the partnership but we wouldn't elaborate. | | |
| News Corp. on Monday sued artificial intelligence search startup Perplexity for allegedly "engaging in a massive amount of illegal copying of publishers' copyrighted works and diverting customers and critical revenues away from those copyright holders," according to the lawsuit. The plaintiffs in the case are Dow Jones & Co., publisher of the Wall Street Journal, and the New York Post. Perplexity CEO Aravind Srinivas declined to comment on the lawsuit. Other content publishers have taken aim at Perplexity, which provides conversational answers to search queries and was valued at $3 billion in a recent funding round. In July, magazine publisher Condé Nast sent a cease-and-desist letter to Perplexity, demanding that it stop using content from its periodicals, The Information reported. While some publishers like the New York Times have filed similar suits against companies such as OpenAI—whose ChatGPT chatbot may give answers that rely in part on news reports—other media firms are choosing instead to strike licensing or revenue sharing deals with AI startups including Perplexity. | | |
| U.S. rules that would limit certain U.S. investments in China in sensitive technology areas such as artificial intelligence are now going through a final regulatory review, according to a posting on the U.S. government's website. The posting suggests that the final rules could be released very soon. Under the rules, certain U.S. investments in areas such as AI, semiconductors and quantum computing in China would be either prohibited or require a notification to the U.S. Treasury. The rules are based on President Biden's executive order last year that called for new restrictions on U.S. outbound tech investments in China. The rules are part of Washington's broader effort to prevent China from using U.S. investments or U.S. technologies to enhance its military and surveillance capabilities. Biden's order last year cited concerns about how investments in sensitive technologies in China could threaten U.S. national security. | | |
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