Hello and Welcome,
I am Fabrice Iranzi. Today is our first edition of Lion Herald -Digital Tech World briefing and in today’s newsletter we share developments across various sectors, each story is about change, challenge, and opportunity.
First up, the UK advertising industry is celebrating a boost in trust levels after a ten-year slump. It’s a big win for an industry that’s been working hard to rebuild its reputation.
In the tech world, Nvidia has rocketed past Apple to become the world’s second most valuable company. It’s a sign of the times, showing just how fast things can change in the world of technology.
Meanwhile, Spotify is making waves with its new subscription tier tailored specifically for UK music fans. They say it’s all about giving people what they want at a price they can afford.
But it’s not all smooth sailing. Microsoft is facing some tough questions in the EU over its handling of data in its education software. It’s a reminder that even the biggest players can’t afford to slip up when it comes to privacy and transparency.
On the startup front, Slip is celebrating a major funding win, showing that investors are still hungry for fresh ideas that shake up the status quo. But Binance is facing a legal battle over allegations of collusion, highlighting the risks that come with operating in the cryptocurrency space.
Over in London, Salesforce is doubling down on its commitment to AI innovation with the opening of its first AI center. It’s a move that underscores the city’s growing reputation as a hub for tech talent and innovation.
And finally, Voda is making headlines with its mission to provide inclusive mental health support for the LGBTQIA+ community. It’s a reminder that technology can be a force for good, helping to bridge gaps and provide much-needed support to those who need it most.
In a nutshell that’s all for Today,
Cheers!
EDITION #001/LION HERALD -DIGITAL TECH WORLD BRIEFING
[8:00]: Advertising No Longer the UK’s Least Trusted Industry for the First Time in a Decade
[10:00] : Nvidia Surpasses Apple, Becomes Second Most Valuable Company Worldwide
>https://lionherald.com/nvidia-surpasses-apple-becomes-second-most-valuable-company-worldwide/
[12:00]: Spotify Introduces Music-Only Subscription Tier in the UK
>https://lionherald.com/spotify-introduces-music-only-subscription-tier-in-the-uk/
[14:00] : Microsoft 365 Education Faces EU Investigation Over Data Privacy Concerns
>https://lionherald.com/microsoft-365-education-faces-eu-investigation-over-data-privacy-concerns/
[16:00] : London Tech Startup Slip Secures £2.5 Million Seed Funding to Revolutionize Retail Receipts
[18:00] : Binance Seeks Dismissal of Major Claims in £10 Billion Lawsuit Over BSV Delisting
[20:00]: Salesforce Launches Inaugural AI Hub in London, Pledges $4 Billion UK Investment
[22:00]: Voda Secures £270K in Pre-Seed Funding to Address LGBTQIA+ Mental Health Crisis
Advertising no longer the UK’s least trusted industry for the first time in a decade
For the first time in a decade, the UK advertising industry is no longer the least trusted sector, with trust levels rising to 30%, according to new research from the Advertising Association (AA) and Credos. This shift places advertising above both the media and government in terms of consumer trust, which currently stand at 26%. The comprehensive ‘Value of Trust’ report underscores trust as a critical factor in brand effectiveness and financial performance, moving it to the second most crucial driver of brand success. Trust varies notably by age, with 50% of younger people trusting ads compared to just 22% of those over 55, and television remains the most trusted medium at 41%. Industry initiatives, particularly the Advertising Standards Authority’s trust campaign, have significantly contributed to this positive change. As the industry focuses on improving creativity and media strategy, it aims to sustain this momentum, further enhancing public trust and business outcomes.
Nvidia Surpasses Apple, Becomes Second Most Valuable Company Worldwide
Nvidia has achieved a remarkable milestone, overtaking Apple to become the world’s second most valuable company with a market capitalization of $3.01 trillion. This places Nvidia just behind Microsoft, which remains at the top with a market cap of $3.15 trillion. Nvidia’s surge is primarily driven by its leadership in the AI sector, especially through its flagship H100 chip, resulting in a recent profit of $14 billion. The company has seen rapid growth, crossing the $1 trillion mark in May 2023 and $2 trillion by February 2024. With its stock priced over $1,220 per share and a planned stock split on June 7th, Nvidia aims to broaden its investor base. Dominating the AI chip market with a 70-95% share, Nvidia plans to launch a new AI chip annually, starting with the Blackwell B200 GPU later this year, reinforcing its influence in global technology.
Spotify Introduces Music-Only Subscription Tier in the UK
Spotify has launched a new subscription tier called “Basic Individual” exclusively for UK music lovers, priced at £10.99 per month. This cost-effective plan focuses solely on music streaming, omitting audiobook access, providing an affordable alternative for users uninterested in audiobooks. This introduction follows Spotify’s recent price hike for its Premium Individual plan, which now costs £11.99 per month and includes 15 hours of audiobook listening. The new tier aims to cater to diverse user preferences and attract a broader audience amid increasing competition in the streaming industry. Currently, “Basic Individual” is only available in the UK, with no plans announced for other markets.
Microsoft 365 Education Faces EU Investigation Over Data Privacy Concerns
Microsoft’s education-focused cloud productivity suite, Microsoft 365 Education, is facing scrutiny in the European Union following two complaints filed by privacy rights nonprofit noyb with Austria’s data protection authority. The complaints raise serious concerns about the transparency and legality of Microsoft’s data processing practices involving minors, potentially violating the EU’s General Data Protection Regulation (GDPR). The first complaint alleges that Microsoft provides vague information on how children’s data is used, which could lead to unlawful data processing. Noyb also claims that Microsoft attempts to offload its compliance responsibilities onto schools, which are ill-equipped to handle them. The second complaint accuses Microsoft of using tracking cookies in its 365 Education software without proper consent, collecting browser data for advertising purposes. These practices could affect hundreds of thousands of students in the EU. Noyb is urging the Austrian Data Protection Authority to investigate and impose penalties if GDPR violations are confirmed. Microsoft asserts its compliance with GDPR and commitment to privacy, but the outcome of this investigation could have significant implications for the company’s operations in the EU, highlighting ongoing tensions between tech giants and European data protection authorities.
London Tech Startup Slip Secures £2.5 Million Seed Funding to Revolutionize Retail Receipts
London-based tech startup Slip has successfully raised £2.5 million in seed funding, following a £750,000 pre-seed round in 2022. Led by Adjuvo, with participation from Haatch Ventures, Unbundled VC, Side by Side Partnership, and notable angel investors, the funding will enhance Slip’s technology and expand its team. Slip, founded by Tash Grossman and CTO Eddy Herman, aims to transform traditional receipts into powerful tools for customer insights, re-engagement, and rewards through their mobile technology. The startup’s digital receipts not only reduce environmental waste but also provide valuable data analytics for retailers. Slip’s technology is already being used by major retailers like JD Sports and Beyond Retro, achieving significant engagement and loyalty metrics. The new funding will support further technological advancements and broader adoption of Slip’s innovative solution, promoting sustainability and enriching the retail experience.
Binance Seeks Dismissal of Major Claims in £10 Billion Lawsuit Over BSV Delisting
Binance is seeking to dismiss significant portions of a £10 billion ($12.8 billion) lawsuit in London, which alleges that the crypto exchange, along with other major platforms including Kraken, colluded to delist the Bitcoin Satoshi Vision (BSV) cryptocurrency in 2019. Filed by BSV Claims at London’s Competition Appeal Tribunal (CAT), the lawsuit represents over 200,000 BSV owners and accuses the exchanges of anti-competitive behavior that caused a substantial decline in BSV’s value. The legal team estimates damages related to this delisting could be as high as £9 billion. Binance’s defense argues that BSV holders who retained their investments after the delisting did so voluntarily and could have reinvested in other cryptocurrencies. While Binance has not publicly commented on the lawsuit, Kraken has called it “baseless.” The delisting occurred following controversial claims by Craig Wright, who asserts he is Bitcoin’s inventor, a claim disputed within the crypto community. The CAT’s decision on the motion to dismiss will be a pivotal moment in this legal battle, with potential wide-reaching effects on the cryptocurrency market and the regulation of digital asset exchanges.
Salesforce Launches Inaugural AI Hub in London, Pledges $4 Billion UK Investment
Salesforce has chosen London as the location for its first AI centre, providing a collaborative space for industry experts, developers, and customers to innovate and acquire new skills in the AI landscape. The decision underscores Salesforce’s commitment to the UK market, aligning with its broader investment of $4 billion in the country over the next five years, with a focus on AI innovation. Zahra Bahrololoumi, Chief Executive of Salesforce UK and Ireland, emphasizes the importance of trust in AI adoption, highlighting Salesforce’s dedication to ethical AI use through its Einstein technology. The new AI centre in London aims to foster innovation aligned with responsible practices, with strong support from the Deputy Mayor of London for Business and Growth, Howard Dawber, who sees it as a vital hub for industry collaboration and economic growth. Salesforce’s recent AI initiatives, such as Einstein Copilots and Personalization, demonstrate its commitment to transforming customer experience and driving business success in the digital age. These AI tools offer a range of features, from automating tasks and analyzing data to understanding customer messages and identifying trends, empowering businesses to make smarter decisions and enhance customer engagement.
Voda Secures £270K in Pre-Seed Funding to Address LGBTQIA+ Mental Health Crisis
Voda, a UK-based mental health startup, has secured £270,000 in pre-seed funding, led by Freiraum Ventures and supported by impact investors Lightbulb Trust and ULTRA VC. This investment marks a significant step forward in Voda’s mission to provide inclusive and accessible mental health support for the LGBTQIA+ community, addressing the stark mental health disparities highlighted by recent research from the University of Manchester. Co-founded by Kris Jack and Jaron Soh, Voda offers a tailored mental health app specifically designed for LGBTQIA+ individuals, integrating evidence-backed tools and resources such as personalized advice, queer-led meditations, cognitive journaling, and self-guided therapy programs.