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Daily Tech News: Apple, Wise, FoodPanda, Walmart, Paper.id, Oyo

June 18, 2024

Here are the top stories on Techzi

Apple’s Pragmatic AI Integration Hits the Bullseye

  • Apple took pragmatic approach showcasing AI’s current capabilities as an assistant.

  • Tech pundits criticized it as minor upgrades but measured vision builds trust.

  • Apple pioneers responsible AI integration with realistic expectations and reliable solutions.

Robot Renaissance: Generative AI Paves the Way for Multi-Talented Machines

  • Generative AI could unlock general-purpose robots by fusing skills.

  • MIT’s “PoCo” approach uses diffusion models, boosting multi-task performance 20%.

  • It combines real-world dexterity with simulation versatility.

Wise Posts Stellar FY 2024 Results, Asia Pacific Shines

  • Wise posted $1.3B revenue, over 200% profit growth in FY2024.

  • Asia Pacific became its second-biggest market after regional expansion.

  • Wise continues bolstering regulatory compliance with new payment system connections.

Ex-Foodpanda CEO Breaks Silence on Abrupt Exit

  • Ex-Foodpanda CEO Jakob Angele opened up about his abrupt exit.

  • He admitted leaking confidential talks, leading to departure.

  • Angele believes numerous potential suitors remain for Foodpanda’s business.

Walmart Mimics Amazon’s Tiny Order Strategy for E-Commerce Success

  • Walmart mimics Amazon’s tiny order strategy for e-commerce success.

  • Walmart+ members shop more frequently with smaller baskets.

  • Analyzing baskets provides valuable customer insights for Walmart.

Paper.id Secures Series B Funding Amidst Booming Transaction Growth

  • Indonesian invoicing platform Paper.id secured Series B funding.

  • The round was led by Australian VC Square Peg.

  • Paper.id saw 30x transaction value growth in 2023 vs 2021.

Oyo’s Valuation Plummets as Startup Finalizes New Funding

  • Oyo, once valued at $10B, is finalizing a $100-125M fundraise at a $2.5B valuation.

  • The Indian budget-hotel chain startup has shelved its IPO plans twice in four years.

  • Oyo reported a $12M net profit for the last fiscal year.

Zomato in Talks to Acquire Paytm’s Movie and Ticketing Division

  • Zomato is in talks to acquire Paytm’s movie and ticketing unit for up to $239.5M.

  • The food delivery giant is also investing $36M in its quick commerce division, Blinkit.

  • Paytm posted its first profitable year but faced a 20% Q4 revenue drop due to regulatory challenges.

Adam Spector Says “There Will Be Almost No More White Collar Jobs in America”

  • Spector forecasts white-collar job exodus from US.

  • Companies replacing $50k+ staff with <$10k overseas hires.

  • Devastating short-term, but may spur entrepreneurship long-term.

Did you miss yesterday's daily news show?? Then it’s not too late to check it out now!

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