The once-promising path of coding leading to prosperity is faltering. Recent computer science graduates are experiencing unemployment rates exceeding those of biology and art history majors, according to a Federal Reserve Bank of New York study.

A New York Times article highlights the struggles, with graduates like Manasi Mishra and Zach Taylor facing numerous rejections despite promised high salaries. Mishra, a Purdue graduate, only secured one interview at Chipotle, while Taylor applied to nearly 6,000 tech jobs with minimal success.

The situation is attributed to AI's impact on eliminating junior positions and job cuts at major tech companies like Amazon, Meta, and Microsoft. Graduates feel stuck in an "AI doom loop," where AI is used for both job applications and rejections.

Mishra eventually found employment outside of software engineering through a cold application.

AI coding startups like Windsurf and Anysphere (Cursor) face challenges due to the high costs associated with using large language models (LLMs). Windsurf, after failed acquisition talks with OpenAI, was eventually sold off in parts after facing negative gross margins due to the expense of running its AI coding product. The most direct solution involves building proprietary models to cut supplier costs, but this is capital intensive.

Anysphere, the maker of Cursor, is also experiencing margin pressures despite its rapid growth and $500 million ARR. They are exploring building their own model and have adjusted pricing to reflect increased LLM costs. The article highlights the competitive landscape, suggesting that user loyalty is not guaranteed if superior tools emerge. Windsurf's founders and key employees ultimately joined Google after a deal that led to a $2.4 billion payout.

Other AI coding tools like Replit, Lovable, and Bolt also rely on model makers, indicating the broader industry's reliance on LLM providers and the struggle to achieve profitability.

Instagram has launched Instagram Map, a new feature similar to Snap Map, allowing users to share their location and discover location-based content. Location sharing is opt-in and only updates when the app is open or running in the background.

Accessing Instagram Map: Navigate to your DMs and tap the 'Map' option. First-time users will see a pop-up explaining that location sharing is off by default and can be changed.

Setting Location Preferences: Choose who can see your location (Friends, Close Friends, selected users, or no one) in settings under 'Story, live and location' > 'Location sharing'.

Using Instagram Map: View locations of friends who share their location and discover location-based Stories and Reels. You can also leave ephemeral messages ('Notes') on the map.

Brex, a financial services provider, has secured a license to operate in the European Union, enabling it to directly issue credit and debit cards and offer spend management products in all 30 EU countries. This expansion allows Brex to sell its products, including embedded payments, to EU companies and startups. While banking and bill pay services will not be immediately available, the company intends to introduce them in the future. Brex is also planning to expand into the UK. The company aims to be cash-flow positive by 2025, with projected revenue of $500 million this year. In March 2024, Brex secured $260 million in debt to support its business.

Duolingo's shift to an 'AI-first' approach, despite facing user backlash, has resulted in the company exceeding quarterly revenue estimates and a nearly 30% stock increase. CEO Luis von Ahn's decision to prioritize AI led to the introduction of 148 new language courses and a reduction in reliance on contract workers. While some users have criticized the AI features, Duolingo anticipates surpassing $1 billion in revenue this year, with daily active users growing by 40% year-over-year. The company addressed negative social media sentiment by adjusting its content strategy, focusing on positive messaging. Despite ongoing criticism on platforms like TikTok, Duolingo's financial performance remains strong.

Elon Musk announced that X plans to introduce advertisements within Grok's responses to generate revenue.

This initiative aims to monetize the AI chatbot and offset the costs of the GPUs powering it.

Advertisers can pay to have their solutions suggested to users seeking problem-solving assistance from Grok.

Musk also intends to leverage technology from xAI to enhance ad targeting on the X platform.

Bouygues Telecom, France's third-largest phone carrier, has confirmed a cyberattack and data breach impacting 6.4 million customer accounts. The breach, detected on August 4, compromised personal information including contact details, contractual data, civil status, and IBANs.

The company has reported the incident to France’s data protection agency, CNIL. A hidden "noindex" tag was found on the webpage detailing the attack, potentially hindering search engine visibility.

This cyberattack follows a similar incident at Orange, another major French telecom, which experienced disruptions in late July.