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Twitter is threatening to sue Meta over Threads

Plus: India to launch Chandrayaan-3 Moon lander mission on July 14 

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Cash Nut
July 07, 2023

In Today’s Edition

  • How Markets Value Software Companies in 2023

  • Flipkart To Begin $700 Mn ESOP Buyback After PhonePe Split

  • Threads already has over 95 million posts

  • Apple is inventing a revolutionary car audio system for Apple Car

  • My small, no name company has completely lost its mind with AI

  • Google’s first fully custom Pixel chip, Tensor G5, coming 2025 from TSMC

  • India to launch Chandrayaan-3 Moon lander mission on July 14

🚀Startups Nuts

Valuations are creeping back up based on more than just profitability. Things are picking up again and the guess is that things will pick up steam at the end of Q3 and go bonkers starting in Q4. Are we back? Maybe.

Per a Flipkart spokesperson, the payouts will be made by July 31, having communicated the same to employees before. More than 24,000 employees, including Flipkart and Myntra staff who have since moved on, will be given the cash payout. The ESOP buyback will see Flipkart’s valuation drop to $33 Bn from the $37.6 Bn it commanded during its last funding round in 2021.

🏭Business Nuts

Threads had more than 30 million sign-ups and 95 million posts in its first 24 hours. It reached the top free apps on the App Store. There are still a lot of features missing from the app, such as DMs or a reverse chronological following feed. The app is also missing a planned integration with the decentralized ActivityPub protocol.

Apple is inventing a whole new stereo system for the Apple Car. The company recently filed five patent applications about audio in the car. It uses the phrase 'enclosed environment' as a euphemism for the car, but the way the term is used strongly suggests that it can't refer to anything else but a vehicle. This article provides an overview of the five patents along with images from the applications.

Twitter has accused Meta of poaching former employees to create Threads. It is threatening to sue Meta to enforce its intellectual property rights. Twitter's lawyers allege that Meta hired and assigned former Twitter employees to develop Threads with the specific intent that they use Twitter's trade secrets and other intellectual property to accelerate development. A Meta spokesperson responded by saying that Twitter's accusations are baseless as no one on the Threads engineering team is a former Twitter employee.

📱Tech Nuts

Some people really think that AI is a magical thing that can fix all their problems. This article gives an example of a company that is using AI to generate JIRA tickets, code, and HR documents without any care about quality or security or checks for legality. The entire process has become a failed experiment that the company's engineers have had to clean up, but the company's decision-makers continue to push the technology to please the CEO. Examples of no name companies acting like this serve as an indication of what the future might hold.

Google is sticking with Samsung for next year's Tensor chip design and manufacturing, but it has been replacing Samsung components with its own IP every generation.

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🎁Miscellaneous

India will launch the Chandrayaan-3 mission on July 14, almost four years after the crash of its previous iteration. The mission involves sending a lander, propulsion module, and rover to the lunar surface to conduct on-site scientific experiments. It should land on the Moon in August. If successful, India will be the fourth country in the world to achieve a soft landing on the Moon.

💡What else are we reading and seeing?

  • How Tom Brady’s crypto ambitions collided with reality

  • Tech stocks refuse to listen to the bond market

  • Everything you need to know about Threads

  • The decline of critical thinking skills

  • What is growth?

😎Fun Fact

The world's largest rubber duck, named "Mama Duck," stands at 61 feet tall and weighs over 11 tons.

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