Business Name Generator News Digest October 28, 2022

Every week, we bring you the most interesting news on startups, branding, and entrepreneurship. Read on if you want to know what’s happening in the industry.

USB-C Is Definitely Coming To Apple In Europe

European legislators have been pushing hard to get all consumer electronics manufacturers to use the same USB-C charging port.

Apple USB-C

The European Parliament passed legislation that mandates all phone manufacturers to adopt USB-C connectors on their devices starting in 2024.

This started speculation since Apple has been pushing hard to use its own lightning connector charging port that came into existence almost 10 years ago. But it seems that the US tech giant isn’t planning on fighting the European legislators.

Greg Joswiak, Apple’s senior VP of marketing, confirmed at a live event that the company plans on complying with EU legislation. He was, however, critical of the new mandate.

He mentioned that the EU pushed for micro USB connectors a decade ago, and Apple disagreed with the decision. The legislators wanted to reduce the type of power adaptors, but Apple decided to approach the problem with its lightning connector that was implemented in all their products.

It’s worth noting that Europe isn’t the only region pushing for unified phone chargers. Democratic senators, led by Bernie Sanders, are pushing the US to follow the EU’s ruling. Other regions are also considering unified chargers.

What do you think? Do you think unified ports will reduce the number of chargers used?

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The New Meta Quest 3 Is Expected To Launch Soon

Dave Whener, the Meta CFO, announced in a company earnings call that the consumer Quest headset will launch later next year.

Meta quest 3

Mark Zuckerberg also mentioned the next generation of consumer Quest headsets. It’s fair to assume he was talking about Meta Quest 3. The company has traditionally launched new headsets in their fall Connect events.

Zuckerberg previously mentioned that Quest 3 will be in the $300-$500 price range. This would make it slightly more expensive than the Quest 2, which started at $299.

Their pro line, the Meta Quest Pro, which normally retails for $1500, is currently on sale, which might indicate that a new product is about to hit the shelves.

Quest 3 will undoubtedly be a more budget device compared to Quest Pro. But some signs show that Meta might incorporate elements and features of their high-end headset.

Zuckerberg mentioned that face and eye tracking would be the main focus of all new Quest devices. Some early rumors also indicate that Quest 3 might incorporate pancake lenses, which can be found in the Quest Pro.

The news comes during a difficult time for Meta. The Q3 report shows that the company revenue dropped 4% year over year. The CFO stated that some of the decline is due to inflation.

It will be interesting to watch if the new consumer headset turns the tide for Meta.

Poland’s Venture Capital Wants To Invest In Western Europe

Venture capital firms from central and eastern Europe (CEE) tend to focus on their own region. Poland’s Market One Capital is one of the CEE funds that are willing to go broader.

Market One Capital raised €80 million in its second round of funding to invest in early-stage European startups. The fund specializes in network effects companies. Usually, the value of these platforms goes up because the number of users increases after being funded.

Most of the existing Market One Capital clients operate a marketplace business model. They also invest in fintech and software startups. This specialization helps them compete with Western European funds.

A New App That Combines All Your Apps And Makes Your Life Easier

Needl is a Y Combinator graduate startup that helps people find files, documents, and messages. They are building a search bar that searches through all your files to help you find what you’re looking for.

The primary target audience for the app are project managers, which often have to use different apps in their day-to-day operations. The app works on all platforms.

Max Keenan, the CEO, explains.

“We’ve essentially built a single search bar for your entire life.”

He adds.

“It’s basically Mac’s Spotlight on steroids.”

The company just raised $2.5 million.

Elon Musk Says He Won’t Fire 75% Of Twitter Workforce

We mentioned the coming layoffs in the previous installment of the news digest. To recap, The Washington Post reported Musk plans on cutting 75% of Twitter’s workers.

The layoffs aren’t a surprise. The current Twitter leadership wanted to reduce the workforce by 25%, which is a lot but still far from Musk’s number.

Rumors started coming out of the Twitter office that Musk denied the reports to his new staff. While layoffs are still excepted, it doesn’t look like it will be as drastic as previously reported.

One thing is for certain, we’re about to hear a lot more news coming from the Twitter offices.

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Google Buys An AI Avatar Startup For $100 Million

Alter is an AI avatar startup that helps brands and individuals express their online identity with modern avatars. 

Alter was purchased by the tech giant Google for $100 million. Google wants to up its content game and compete with popular social media channels like TikTok. 

It was reported that the acquisition was completed two months ago, but none of the companies disclosed it to the public. A Google spokesperson confirmed (to TechCrunch) that they really did purchase Alter, but the financial terms of the deal remain unconfirmed. 

Alter started as Facemoji and was later rebranded as Alter. 

Will you be using avatars when Google makes them available? 

Author

Matija

Matija

Amazing content is the core of what we do. With more than 5 years of experience in branding, name development, and business, Matija helps create and manage content production.

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