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This Week in Tech: Smart Homes, Spotify Outages, Funding News, and Mining Innovations
Jurnli
September 30, 2024
Monday: Tech Talk
Date: 30/09/2024
Kick off your week with Tech Trends! Today, we explore the most exciting advancements in technology and what they mean for the future.
🚀 Tech News
California Governor Gavin Newsom vetoed SB 1047, an AI safety bill that would have required companies to stress-test large AI models and implement emergency "kill switches." Newsom argued the bill could stifle innovation and push AI businesses out of California. While tech leaders like Marc Andreessen and Meta’s Yann Lecun praised the decision, critics, including the bill's author Scott Wiener, warned of the risks posed by unregulated AI development. Despite the veto, the debate around balancing AI innovation with safety is expected to continue.
Google is making significant strides in integrating Thread technology into its ecosystem, aiming to create a more seamless smart home experience. Recent releases like the Pixel 9 series and Google TV Streamer now come with built-in Thread radios, positioning them as potential smart home hubs. Clues from a recent Google Play Services beta suggest deeper integration is coming, with mentions of "Thread Networks" and a "Thread Networks Control Center." This aligns with Google's broader vision of using Thread and Matter technologies to unify smart devices across platforms like Amazon Alexa, Apple HomeKit, and Samsung SmartThings, signaling a future of more cohesive smart homes.
On Sunday, Spotify experienced a temporary outage, leaving over 40,000 users unable to access music and podcasts. Many took to downdetector.com to report the issue, and Spotify quickly acknowledged the problem on X, saying they were investigating. Users expressed frustration as the outage disrupted workouts and birthday party playlists. About an hour later, Spotify announced that the issue had been resolved, and the app returned to normal. With over 626 million users and 246 million subscribers, Spotify remains the world’s largest music streaming platform.
This week saw over €1.3 billion raised across 90+ tech funding deals in Europe, along with five exits and M&A transactions. Highlights include EGYM securing $200 million and Abu Dhabi's Mubadala acquiring a stake in Revolut, valuing the fintech at $45 billion. Notable funding rounds saw Nexi receive €220 million from the European Investment Bank, while Sweden’s H2 Green Steel rebranded as Stegra and raised nearly €100 million. The week also saw Visma acquiring fintech startup November First and The Sharing Group taking a majority stake in Drop Mobility. European tech continues to surge with significant investments and growth.
Saudi Arabia is enhancing its mining capabilities, with Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef meeting U.S. firms at MINExpo International 2024 in Las Vegas. The discussions aimed to localize advanced mining technologies and attract investment, leveraging the Kingdom's estimated SR9.4 trillion ($2.4 trillion) mineral wealth. Alkhorayef also visited JetZero and SpaceX to explore collaboration in aviation and space industries. Key talks included potential investments with Thiess, opportunities in valves and pumps with Weir Group, and advancements in mining machinery with Sandvik, along with discussions on offshore mineral exploration with Impossible Metals.
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