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GROW WITHOUT BORDERS #3

Updated: Feb 17




Be the first to know about top news! Catch up on everything in this week's events, including breaking stories. Stay up-to-date with the latest news developments with Fevup Brands, the online source for worldwide stories.


Contents

1. Every 60 Seconds: Amazon Customers Spend $445K

2. Etsy Announces Layoffs, Targeting 11% of Workforce, Affecting 225 Employees

3. Ad of The Month: Large White Apple Bags Appear in Major Cities

4. Google's Latest AI: VideoPoet Redefines Video Generation 

5. The $270 Million Tax Fight Between Amazon and EU Ends 



GLOBAL MARKETPLACES


1. Every 60 Seconds: Amazon Customers Spend $445K


Domo has just released the 11th edition of Data Never Sleeps, a detailed analysis that tracks worldwide data use patterns over the last decade. 


The survey shows considerable growth in online engagement across a variety of platforms, including Instagram, X, Amazon, Venmo, and more. This infographic serves as a visual representation of the vast amount of data generated on the internet every single minute, highlighting the dynamic nature of data as digital interactions continue to grow.


Notably, Amazon users contribute significantly to this data surge, spending an impressive 445,000 dollars every single minute on the platform. This data reflects the giant marketplace's enduring popularity and the continuous growth of online consumer interactions.



GLOBAL MARKETPLACES


2. Etsy Announces Layoffs, Targeting 11% of Workforce, Affecting 225 Employees


In a recent development, Etsy's Chief Marketing Officer, Ryan Scott, is parting ways with the company as it undergoes significant workforce reductions. 


The Brooklyn-based online marketplace revealed plans to trim 11% of its staff, impacting 225 employees. Scott, who contributed nearly five years to Etsy and was recognized for spearheading award-winning campaigns, is stepping down amidst this restructuring.


As part of the company's adjustments, Etsy is streamlining its executive roles, consolidating the CMO position into the newly created role of Chief Operating and Marketing Officer. This role will be assumed by the current Chief Operating Officer, Raina Moskowitz. The consolidation of responsibilities at the executive level signals a strategic move for the company.



BRAND MARKETING


3. Ad of The Month: Large White Apple Bags Appear in

Major Cities


Mysterious building-sized shopping bags, reminiscent of Apple's famous design philosophy, have inexplicably materialized in prominent urban centers such as New York and Paris.


Distinct from conventional advertising efforts, these bags lack any kind of identification or text, depending exclusively on their uncomplicated appearance and a celebratory bow-wrapped emblem to communicate their source. 


Apple, renowned for its emotional animated advertisements throughout the holiday season, has adopted a more simplistic approach this time. The technology behemoth seeks to quietly emphasize in consumers' minds that an Apple gadget may serve as a splendid present, enhancing its message by the presence of large, mysterious shopping bag installations. Apple's Christmas promotions provide a range of appealing alternatives for those who are interested.



ARTIFICIAL INTELLIGENCE


4. Google's Latest AI: VideoPoet Redefines Video Generation 


Google introduces VideoPoet, a significant language model (LLM) loaded with different video generating features, as part of an investigation into using language models for video generation. These features include text-to-video, image-to-video, video stylization, video inpainting and outpainting, and even video-to-audio conversion.


When comparing VideoPoet to leading video generation algorithms, which mostly depend on diffusion-based techniques (as demonstrated in Imagen Video), an intriguing contrast emerges. LLMs, on the other hand, have emerged as the gold standard due to their superior learning capabilities across several modalities, including language, code, and audio (as demonstrated by AudioPaLM).


Notable to Google's method is the way several video generating capabilities are integrated into a single LLM. This is what makes VideoPoet different from other models in the area; it doesn't rely on components that have been trained for different tasks.



CORPORATE & COMPLIANCE


5. The $270 Million Tax Fight Between Amazon and EU Ends 


Amazon secured a legal victory as Europe's top court rejected claims by the European Commission accusing the U.S. e-commerce giant of receiving unauthorized tax benefits.


According to the European Court of Justice (ECJ), the European Commission was unable to establish that the tax arrangement between Amazon and Luxembourg constituted state aid incompatible with the global market.


A spokesperson for Amazon responded to the court’s decision, stating, “We welcome the Court’s ruling, which confirms that Amazon followed all applicable laws and received no special treatment.” 


Sources


1. Domo, Data Never Sleeps 2023.


2. Etsy News.


3. Ad Age | Creativity.


4. Google, Research Blog. 


5. CNBC, E-Commerce News.

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