Tech News Now: Meta and TikTok lawsuits, Disney's big move, and more
Here's all the tech news you need to know today.
Good morning and welcome to Tech News Now, TheStreet's daily tech rundown.
In today's edition, we're covering new lawsuits filed against the European Union by Meta and the parent of TikTok, Disney's buy-in to "Fortnite" developer Epic Games, and Google's Bard AI getting a rebrand.
Meta and ByteDance vs. the EU
TikTok owner ByteDance and Meta (META) have filed lawsuits against the European Union over conditions of its Digital Service Act, which polices social-media platforms such as Facebook, Instagram, YouTube TikTok and more.
The suits claim that the commission's calculation of how much specific companies owe varies wildly, leaving companies like Meta paying a disproportionate amount of the cost.
The EU has stated that it needs €45 million (US$48.3 million) to properly monitor and control inappropriate content on these platforms. Meta has said it is responsible for €11 million (US$11.8 million) of that amount, while ByteDance has not made public the amount it owes.
Platforms such as Elon Musk's X, Amazon, Snapchat, and Pinterest could escape the large levy due to their net income, which is small or nonexistent in comparison to Meta and TikTok's share.
The EU was unruffled by the lawsuits, saying via commission spokesperson Johannes Bahrke, “Our decision and methodology are solid. We will defend our position in court.”
TheStreet has reached out to Meta and ByteDance for comment.
Disney's big move
We’ve already seen select "Star Wars" and "Marvel" characters appear in the wildly popular videogame "Fortnite," but the Walt Disney (DIS) and Epic Games partnership is growing massively.
Disney is making a $1.5 billion investment in Epic as an equity stake and will develop a new "persistent universe" with characters and stories from "Avatar," "Marvel," "Star Wars", Pixar and Disney.
This is going to be... Epic! ✨ The Walt Disney Company and Epic Games are collaborating on an all-new games and entertainment universe featuring characters and stories from Disney, Pixar, Marvel, Star Wars, Avatar, and more.
Learn more: https://t.co/vrMJft64o9 pic.twitter.com/HTs8asNBSm— Disney (@Disney) February 7, 2024
What exactly will be created remains to be seen, though the teaser video shows off some impressive graphics and what appears to be a massive map with worlds for each of the universes.
Also featured on the released graphics is a digital version of World of Disney, a flagship store at Disney Springs in Orlando, Fla., and an island just for Disney+, the brand's streaming service that just got the rights to Taylor Swift: The Eras Tour.
Imagine going on an adventure with Pluto, Chewbacca, Rex, Captain America and Jake Sully across locations from each universe. In the release, Disney and Epic noted that you can shop, play and watch content from the big five. The Walt Disney Company
Bob Iger, Disney's chief executive, said in a statement, “This marks Disney’s biggest entry ever into the world of games and offers significant opportunities for growth and expansion. We can’t wait for fans to experience the Disney stories and worlds they love in groundbreaking new ways.”
This news comes alongside Disney releasing earnings and securing the rights to "Taylor Swift: The Eras Tour." It also arrived after Disney+ made a big splash with Apple and Vision Pro, which is interesting as the tech giant and Epic Games haven’t had the best relationship.
Alphabet's Google: Bard AI's rebirth
Bard AI made its debut on Feb. 6, 2023, and just over a year later, it's already died. Well, sort of. Alphabet's (GOOG) Google said on Feb. 8 that it's doing a rebrand of the artificial-intelligence product, which will now be called Gemini, the same name as the suite of AI models that make its magic happen.
A new dedicated Gemini app was also announced for Android users, while iOS users can access it via the Google app "in the coming weeks." And for those who want the most Gemini has to offer, Google also announced Gemini Ultra 1.0, which is $19.99 a month via Google One after a free two-month trial.
The rollout is available only in English for now, but Google promises Japanese and Korean are on the way soon, with other languages to follow.
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