Equity Spotify throws its hat in the edtech ring
6 snips
Mar 25, 2024 Stocks and crypto markets are feeling the pressure this week. In a surprising shake-up, the CEO of Stability AI has stepped down amid concerns about the company's financial health. Meanwhile, major U.S. tech players face scrutiny in Europe due to new regulations. Spotify is dipping its toes into e-learning, but opinions on this pivot are mixed. Lastly, the non-alcoholic beverage startup scene is bubbling up, capturing investor interest with innovative offerings.
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Market Downturn
- Global stock markets and cryptocurrency prices are experiencing a downturn.
- Bitcoin and Ethereum are down, while Solana and Dogecoin show mixed trends, indicating profit-taking.
Stability AI CEO Resigns
- Stability AI CEO Ahmad Moustak stepped down, citing the need for more distributed governance in AI.
- The company faces challenges with high cash burn and low revenue, raising questions about the true reason for his departure.
EU Probes Tech Giants
- The EU is investigating Apple, Alphabet, and Meta under the Digital Markets Act.
- The probes focus on app store practices and advertising data, reflecting ongoing tensions between US tech giants and European regulations.