Although the Ant Group suspended its high-profile IPO last week, Kuaishou Technology, a popular short-video and streaming media platform founded in 2011, is moving ahead. According to sources, the company, whose platform competes with ByteDance’s Douyin (TikTok in China), aims to raise about $5 billion and reach a valuation of about $50 billion by filing for an initial public offering in Hong Kong as soon as January 2021. The company was founded by engineers Su Hua, formerly at Google China, and Cheng Yixiao, a Hewlett Packard veteran. Read more

In response to the pressure for privacy on social media apps, Facebook-owned WhatsApp debuted a setting to automatically delete messages after seven days. This is intended to make users feel more secure in communicating one-on-one and in group chats. As WhatsApp product manager Zafir Khan noted, “records of most in-person conversations don’t exist forever, so conversations on WhatsApp shouldn’t have to either.” He added that, nowadays, people are “using WhatsApp messaging for very deep and intimate conversations.” Read more

Reaching viewers on streaming media is now a double-edged sword: advertisers want better metrics and the ability to target their messages even as the issue of privacy has also come to the fore. What’s becoming clearer is that any tools to provide metrics will need to obtain viewers’ consent. Until now, advertising has depended on tracking cookies and retargeting to follow people from website to website, which sparked the rise of ad blockers. Now, new privacy regulations in Europe and California are forcing a change. Read more

To fully examine the inner workings and potential impact of deep learning language model GPT-3 on media, ETC’s project on AI & Neuroscience in Media is hosting a virtual event on November 10 from 11:00 am to 12:15 pm. RSVP here to join moderator Yves Bergquist of ETC@USC and presenter Dr. Mark Riedl of Georgia Tech as they present, “Machines That Can Write: A Deep Look at GPT-3 and its Implications for the Industry.” The launch last June of OpenAI’s GPT-3, a language model that uses deep learning to generate human-like text, has raised many questions in the creative community and the world at large.  Read more

A major supplier of 5G chips, Qualcomm predicted shipments of 450 million to 550 million 5G smartphones in 2021, a number at least double of what’s expected by the end of this year. Chief executive Steve Mollenkopf revealed that sales of smartphones was a significant part of the company’s latest quarterly earnings. He also noted that Qualcomm is already seeing benefits from Internet of Things devices and networking gear using 5G chips. In addition, Apple’s 5G-enabled iPhone 12 is expected to be a boon for Qualcomm’s modems. Read more