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Aerospace Manufacturing

Jeh Aerospace Secures $11M to Revolutionize India's Aircraft Component Manufacturing

Indian startup Jeh Aerospace, founded by Vishal Sanghavi and Venkatesh Mudragalla, secured $11 million in Series A funding to scale the production of metallic components for aero engines and aerostructures. The company aims to ease global supply chain bottlenecks and establish India as a key destination for aerospace component manufacturing.

Jeh Aerospace's approach involves:

Using a software-based, precision manufacturing facility in Hyderabad.
Combining precision machinery, robotics, and IoT to reduce product introduction lead times.
Focusing on Tier 1 and Tier 2 manufacturers in the supply chain.
Building deep relationships with fewer, high-value customers.

The company has experienced significant growth, delivering over 100,000 flight-critical components and tools, reaching $6 million in annualized recurring revenue (ARR), and achieving profitability after taxes. Jeh Aerospace plans to use the new capital to invest in next-generation digital production technologies.

The founders aim to strengthen India's position in the global aerospace market, taking advantage of increased sourcing from companies like Airbus and Boeing. The company's advisory team includes former executives from Boeing India and Airbus India.

Design Platforms

Dribbble Bans Top Designer Gleb Kuznetsov, Sparks Competitor Startup

Dribbble permanently banned designer Gleb Kuznetsov for violating its new rules against sharing contact information with prospective clients before payment.

Kuznetsov, a prominent figure on the platform, lost his account with over 210 million followers. He claims he was banned for sharing his email after a client request.

Dribbble's policy change requires designers to take payments through the platform, giving Dribbble a cut of their revenue, which Kuznetsov views as an attempt to increase profits.

Kuznetsov is now launching a competitor to Dribbble, leveraging AI for design inspiration and creation. He aims to create a resource for designers that enhances their capabilities and earning potential.

Artificial Intelligence & Cybersecurity

AI Bug Hunter Big Sleep Uncovers 20 Security Flaws in Open Source Software

Google's AI-powered bug hunter, Big Sleep, has identified and reported 20 security vulnerabilities in open source software like FFmpeg and ImageMagick. Developed by DeepMind and Project Zero, Big Sleep found these flaws without human intervention, though a human expert reviews the reports before submission.

While details of the vulnerabilities are withheld until fixes are available, this achievement highlights the potential of AI in automated vulnerability discovery. Other tools like RunSybil and XBOW are also emerging in this field. The rise of AI in bug hunting also brings challenges, including concerns about inaccurate or hallucinated bug reports.

Business and Transportation

Joby Aviation Acquires Blade's Rideshare Business to Expand Air Taxi Operations

Joby Aviation is set to acquire Blade Air Mobility's helicopter rideshare business for up to $125 million. The acquisition includes Blade's brand and passenger operations in the U.S. and Europe, excluding its medical division. Blade CEO Rob Wiesenthal will continue to lead the business as a Joby subsidiary. This deal provides Joby with a network of 12 terminals in key markets, including New York City. Joby plans to integrate its software to manage air taxi operations into Blade's passenger service, eventually transitioning to electric air taxis. The acquisition supports Joby's commercial operations launch in Dubai and its global rollout.

Artificial Intelligence

ChatGPT Soars: Approaching 700 Million Weekly Active Users

OpenAI's ChatGPT is rapidly expanding its user base, projected to hit 700 million weekly active users. This milestone follows significant growth, with the app reaching 500 million weekly active users by the end of March. The platform has seen a 4x increase in usage since last year.

The introduction of an upgraded image generation feature, powered by GPT-4, in March boosted the app's popularity. Over 130 million users created more than 700 million images shortly after its launch.

ChatGPT has also experienced growth in its subscriber base, with 5 million paying business users, up from 3 million in June. Users are engaging with ChatGPT for an average of more than 12 days per month, spending approximately 16 minutes per day on the app.

Autonomous Vehicles

Lyft and Baidu Partner to Launch Robotaxis in Europe

Lyft is expanding into Europe through a partnership with Baidu to deploy Apollo Go autonomous vehicles.

The companies aim to launch robotaxi services in Germany and the United Kingdom in 2026, pending regulatory approval.

Baidu's RT6 vehicles, equipped with the Apollo Go self-driving system, will be integrated into Lyft's ride-hailing app.

Lyft acquired FREENOW earlier this year to enter the European market, expanding beyond the U.S. and Canada.

Uber is also pursuing robotaxi partnerships, including deals with May Mobility, Volkswagen, Momenta, WeRide, and Baidu.

Lyft plans to add autonomous shuttles from Benteler Group to its network in 2026 and AVs from May Mobility in Atlanta later this year.

Business & Technology

Amazon Reorganizes Audio Business, Shuts Down Wondery Podcast Studio, and Cuts 110 Jobs

Amazon is closing its Wondery podcast studio, which it acquired in late 2020, and laying off 110 employees as part of a larger restructuring of its audio division. The company intends to move existing Wondery series to Audible or a new 'creator services' team. Amazon's VP of audio, Twitch, and games, Steve Boom, noted that the podcasting landscape has changed significantly and that the rise of video has blurred the lines for podcast creators. This shift in strategy indicates that Amazon's podcasting efforts have not met expectations, prompting the company to adjust its approach to better compete with Spotify and YouTube as the industry increasingly incorporates video.

Business & Finance

Global Spotify Premium Price Increase Announced

Spotify has announced an increase in premium subscription prices for users in multiple markets across the Middle East, Africa, Europe, Latin America, and the Asia-Pacific region.

Impacted subscribers will receive an email notification regarding the price increase, which will see monthly subscriptions rising from €10.99 to €11.99.

This decision follows a recent earnings report where Spotify missed revenue expectations, leading to an 11% drop in its stock price. Despite expressing dissatisfaction with the current state of the business, CEO Daniel Ek remains confident in the company's ambitions.

Following the price hike announcement, Spotify's shares experienced a 5% increase in pre-market trading.

Cybersecurity

North Korean Cyber Infiltration: Remote Workers Posing as Employees Exploit Western Companies

CrowdStrike reports a significant increase in North Koreans posing as remote IT workers to infiltrate Western companies, with over 320 incidents in the past year, a 220% increase from the previous year. These individuals use false identities and AI-generated resumes to gain employment, steal data, and generate funds for North Korea's nuclear weapons program.

The U.S. Department of Justice is actively working to disrupt these operations by targeting facilitators and "laptop farm" operations in the U.S. One North Korean operation stole the identities of 80 individuals to gain remote work at over 100 U.S. companies between 2021 and 2024. Identity verification processes are crucial to preventing the hiring of sanctioned workers.