Good morning. New Pew survey data is out this week about what American teens are watching on the internet.
Google-owned YouTube? Check. (Nine in 10.)
TikTok, Meta-owned Instagram, Snapchat? Check, check, check. (Six in 10.)
If you have to ask about anything else, it’s safe to say it’s not popular with the kids. Just remember: We listen and we don’t judge. —Andrew Nusca
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With Android XR, Google dives into mixed reality
Google on Thursday unveiled its Android XR operating system tailor-made for mixed-reality hardware like headsets and smart glasses.
The OS—currently available as a developer preview—has Google’s generative AI chatbot, Gemini, built in. It will make its market debut sometime next year on Samsung’s forthcoming Project Moohan (“infinity” in Korean) headset.
What’s so special about Android XR? According to Google, headset wearers can control or “have conversations” about the immersive apps and content you see while using a headset.
Meanwhile, smart glasses wearers gain access to helpful information “like directions, translations or message summaries without reaching for your phone.”
Google is currently rethinking popular apps—including Chrome, Maps, Photos, Play, and YouTube—for headset use.
And, of course, working to fortify its position to challenge category leader Meta (Quest 3 headset, Ray-Ban smart glasses) and also-rans Apple (Vision Pro), Sony (PSVR 2), and HTC (Vive Pro 2).
ServiceTitan shares soar 40% after Nasdaq IPO
In one of 2024’s few tech IPOs, ServiceTitan’s shares jumped nearly 40% as it began trading on the Nasdaq.
The company’s stock, initially priced at $71, opened at $101, placing ServiceTitan’s valuation at nearly $9 billion. Its shares closed at $100.90.
ServiceTitan is a cloud-based platform that helps contractors manage their operations and communicate with customers. Its investors include Tiger Global Management, Sequoia Capital, Bessemer Venture Partners, TPG, Iconiq Growth, Battery Ventures, Dragoneer Investment Group, and Index Ventures.
“There are two important things that matter,” co-founder Ara Mahdessian told Fortune Thursday morning. “One was the strength and durability of our business… Then, the second was favorable market conditions, and this was a great time for us to become a public company.”
ServiceTitan’s offering came amid broader pressure in the IPO market, which has been in a long drought broken up only by incredibly occasional drops of go-public rain (e.g. Rubrik). There’s the sense that success for ServiceTitan could mean success for many others in the pipeline, such as fintech companies Plaid and Chime. —Allie Garfinkle
U.S. media giants object to U.K. content-scraping shift
The U.K. is about to launch a consultation about AI and copyright, and big U.S. media concerns are freaking out.
According to the Financial Times, a group representing the likes of Disney, Fox, and Universal Music this week wrote to the British government, warning against introducing AI exceptions to copyright rules.
Specifically, the Copyright Alliance said its members feared that the U.K. might force copyright holders to “opt out” of having their content used for AI model training. Opting in is generally the gold standard when it comes to consent.
If the government decides to take the opt-out route, they threatened, “U.K. and U.S. creators and rights holders [may be discouraged] from participating and investing in creative endeavors within the United Kingdom.”
The government insists it hasn’t made up its mind yet. The creative industries account for over 5% of U.K. GDP. —David Meyer
Texas investigates 15 companies for minors’ privacy, safety
The Texas attorney general has launched investigations into more than a dozen technology companies over their privacy and safety practices for minors.
Ken Paxton said Thursday that his office is investigating “Character.AI and fourteen other companies including Reddit, Instagram, and Discord” to ensure that they are seeking parental permission before sharing a minor’s personal identifying information, providing parents with tools to manage the privacy settings on their child’s account, and meeting notice and consent requirements for minors’ personal data.
The requirements, which extend to AI features, are part of the Securing Children Online through Parental Empowerment (“SCOPE”) Act and the Texas Data Privacy and Security Act (“TDPSA”).
Paxton has made privacy a cornerstone of his tenure as Texas AG. In October he filed a lawsuit against TikTok for SCOPE Act violations; two months before that, he sued General Motors for unlawfully collecting driver data and selling it to third parties, including insurers.
More data
—Amazon to contribute $1 million to Trump inaugural fund, following Meta’s move.
—Yahoo layoffs hit the cybersecurity team. One in four members of “The Paranoids” affected.
—Meet Mozi, Ev Williams’ new social app. It’s like Foursquare, but…not.
—Broadcom logs a blowout Q4. CEO Hock Tan says the magic words: “Custom AI chips.”
—YouTube TV price jumps $10 per month. It’s jumped $48 since its 2017 debut.
—Netflix cracks down on one-year parental leave benefit. It’s shifting into profitability mode.
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