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The social media company Snap recently announced it’s laying off about 1,000 workers — 16% of its employees. The company said these changes will reduce costs by more than half a billion dollars and help establish a path to net income profitability.
This move comes after one of Snap's investors, Irenic Capital Management, wrote a public letter to the company outlining what it needs to do to “save” the company and cut costs.
Snap has been a public company for nine years. It's had just a few non-consecutive profitable quarters. Sarah Kunst, a general partner at the venture capital firm Cleo Capital, explains more about when a company has to be consistently profitable.
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It's been a bit of a rocky week in tech markets, particularly for companies heavy on debt. We'll get into it on this week’s “Marketplace Tech Bytes: Week in Review.”
Plus, the king of streaming, Netflix, announces plans to cut around 6% of its staff. And on Wall Street, AI skills could be your t ...
New AI features are quickly rolling out in the apps we use every day — from Google’s AI-generated search summaries to Meta’s Muse agent.
But there's a big gap between what these tools can do and what most consumers find useful. The vast majority use free versions of chatbots, for searching the ...
More and more people are turning to chatbots to search the web.
But researchers are finding these systems can be gamed.
We wanted to understand more about how AI chatbot search results can be manipulated, so we called up someone who studies these things for a living: Xiyang Hu, an assistant prof ...
Europe may have weeks of paid vacation, quaint walkable cities and incredible, affordable local wines. But there's something the continent lacks (besides ice cubes and AC): shiny, new Big Tech products.
Take Apple's revamped Siri, Meta's Muse or OpenAI's competing AI assistant dots. They've all ...
You might say the 2026 midterms are the first big AI election. The technology has become a key political issue, it’s a significant source of fundraising and it’s also helping power campaign ads.
Plus, generative AI is being looked to by voters as a tool for sorting through the deluge of informat ...
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