Waze GPS app. Photo: Linda Davidson/The Washington Post via Getty Images
The latest news on the Facebook breach Friday may have caught everyone's attention, but there was other tech-related news this week that's worth your time — including a new music law and a possible IPO from Bumble.
Catch up quick: Trump signs the Music Modernization Act into law; a Nasdaq IPO from Bumble is under “serious consideration”; Waze rolls out Waze Carpool nationwide; Amazon's AI recruiter may have favored men; and Snapchat faces a lot of problems as it launches an original video series.
Trump signs the Music Modernization Act into law (The Verge)
- Why it matters: Many watched Kanye West meet President Trump at the White House, but what didn’t make news was the president signing the Music Modernization Act into law. The bill revamps Section 115 of the U.S. Copyright Act and aims to bring copyright law up to speed for the music streaming era. It's intended to improve royalty payouts, ensuring that artists are paid more and have an easier time collecting money they are owed.
A Nasdaq IPO from Bumble under “serious consideration” (Bloomberg)
- Why it matters: Dating apps have become very profitable. The worldwide revenue in 2018 is projected at $3.2 billion and is expected to increase to $3.9 billion by 2023, per a Statista report.
Waze rolls out Waze Carpool nationwide (CNET)
- Why it matters: Alphabet's first foray into ride-hailing is through none other than a classic carpooling service — a way for you to pick a few people up on your way to work without disrupting your route too much and still earn some money. After testing it for a couple of years, Alphabet-owned Waze is taking its service nationwide. Like other ride-hailing apps's carpool options, it’s an attempt to reduce traffic congestion.
Report: Amazon's AI recruiter favored men (Axios)
- Why it matters: It's another example of how artificial intelligence has a long road ahead before it can capture the diversity of the human race. The findings, originally reported by Reuters, is a textbook example of algorithmic bias. By learning from and emulating human behavior via the hiring data used to train it, the system ended up learning the same biases and prejudices.
Time is running out for Snapchat as it launches Snapchat Originals, analysts say (NBC News)
- Why it matters: Snapchat unveiled 12 scripted series this week, a move to redeem itself from a redesign that was not well-received and concerns from investors over the company’s future. On Wednesday, Snapchat shares hit a record low, trading down 5 percent at $6.64 per share.
Honorable mention: Elon Musk fired back at the Financial Times after it reported that outgoing 21st Century Fox CEO James Murdoch is the top contender for the Tesla chairman job. In a tweet, Musk called the report "incorrect."