Since China imposed its new national security law in Hong Kong, numerous technology companies — especially startups — are making plans to leave the city, just as it was developing into a significant regional fintech hub. One reason is that clients and suppliers are concerned that their data and Internet services will be under the surveillance of Chinese authorities. While the startups are already packing up, the bigger technology companies, including Facebook, Google and Twitter, are mulling over their next move. Read more

Visual effects company Weta Digital — founded by Peter Jackson, Richard Taylor and Jamie Selkirk — joined forces with production facility Avalon Studios and live event, production and broadcast specialist Streamliner Productions to develop an LED-stage virtual production service based in Wellington, New Zealand. That country has done a good job of controlling COVID-19, making it an appealing destination for new TV and film productions. Similar to ILM’s StageCraft platform, Weta Digital’s system is based on Epic Games’ real-time Unreal Engine. Read more

OpenAI’s Generative Pre-trained Transformer (GPT), a general-purpose language algorithm for using machine learning to answer questions, translate text and predictively write it, is currently in its third version. GPT-3, first described in a research paper published in May, is now in a private beta with a select group of developers. The goal is to eventually launch it as a commercial cloud-based subscription service. Its predecessor, GPT-2, released last year, was able to create convincing text in several styles. Read more

About a year ago, the Federal Trade Commission chair Joseph Simons predicted that the antitrust probe of Facebook would be done before the presidential election, a goal that now seems unlikely. If it runs into next year, a new president could change the FTC’s priorities. For now, the Facebook investigation continues, with staff members prepping depositions of Facebook chief executive Mark Zuckerberg and chief operating officer Sheryl Sandberg and examining its purchase of Giphy, a search database for short videos. Read more

Facebook debuted a major redesign of its Instagram Shop platform, which had already been accessible from a button in the Explore tab but now offers more functionality. The new version of Instagram Shop will first be available in the U.S., with a global rollout “in the coming weeks” said the company. In Shop, consumers will find special collections, a “Suggested for You” section and curated offerings from Instagram’s @Shop account. A double arrow symbol means the user can buy the product without leaving the app. The move is seen as Facebook’s stronger push into e-commerce. Read more