Netflix Q1 earnings, Microsoft developing AI chip, Reddit to charge for AI training

Netflix Q1 earnings: revenue: ~$8.2B (+3.7% y/y), net income: $1.3B, total global paid subs: 232.5M (+4.9% y/y), global paid net new subs: 1.75M (missed estimates of 2.06M); shares are down ~3% on the news - Link

The Information sources: Microsoft is developing its own AI chip, code-named Athena internally, to deal with an industry-wide AI chip shortage; the company is debating whether to commercialize the technology or keep it in-house - Link

Reddit plans to charge companies for commercial access to its API if its data is used to train AI models; the API will remain open to devs and researchers using it for non-commercial purposes - Link

The EU has agreed on its own "Chips Act": a $47B plan to boost its chip industry to compete with the US and Asia with the goal of producing 20% of global semiconductors by 2030 - Link

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Rachel is back to help Jason break down the news! First, they cover Google reportedly "panicking" over Samsung potentially switching to Bing as its device-default search engine, how Google can beat OpenAI/Microsoft, and "Project Magi" (1:43). Then, they discuss some recent AI-generated viral hits and what it means for the future of the music industry (21:48) before wrapping up on the possibility of Coinbase relocating outside of the US (49:25). - Link

The EU has agreed on its own "Chips Act": a $47B plan to boost its chip industry to compete with the US and Asia; its goal is to produce 20% of global semiconductors by 2030 - Link

Jaguar Land Rover will invest $18.7B over the next five years to boost EV manufacturing and develop self-driving features - Link

VC funding for Indian startups fell ~75% to $2B across 271 deals in Q1, marking the slowest quarter in almost three years - Link

Reuters sources: Chinese regulators are considering lowering their fine against Ant Group by more than 25% from $1B+ to ~$728M - Link

Avalor, which offers a platform that helps businesses track and manage cybersecurity assets, bugs, vulnerabilities, and more, raised a $25M Series A led by TCV - Link

This Week in Startups:

E1723: Google’s search engine “panic,” AI-generated hits, Coinbase considers leaving US market

E1722: Uizard’s Tony Beltramelli on text-to-UI & PMF + building a Notion CRM w/ Kelly Schricker

E1721: Hyfe’s Joe Brew on using AI to quantify coughs + Presh on generating content with ChatGPT

E1720: The rise of AutoGPTs and AI anxieties with Sunny Madra and Vinny Lingham

E1719: Copy.ai CEO Paul Yacoubian on keeping up with GPT’s rapid evolution & AI’s potential impact

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