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Four phones showing Noplace profiles
C/O Noplace

Noplace launches to top of charts, but can the social-media app sustain the hype?

Text-based social app has striking similarities to Myspace

New social-media app Noplace looks a lot like if Myspace was built for iPhones instead of early 2000s clamshell iBooks. The app launched Wednesday and briefly vaulted up the App Store charts.

Noplace seems to take a page from several social networks’ playbooks. Users make a profile where they can add a pic and bio; list their interests (horror movies, “Animal Crossing”); add their age and relationship status; and post to their “wall.”

Users also have friends and a “Top 10,” similar to Myspace’s “Top 8” feature that millennials will remember for destroying friendships. Noplace was even originally named Nospace before receiving a cease-and-desist letter that prompted the slight name tweak. Plus, Noplace founder Tiffany “TZ” Zhong is every users’ first friend. (Former Myspace users: Remember Tom?)

Noplace profile v2
Bye, Myspace Tom. Hi, Noplace Tiffany "TZ" Zhong.

But Noplace isn’t trying to do it all. The app’s main feed is for text-only posting, putting it in the running to rival X alongside other microblogging upstarts including Bluesky, Mastodon, and Meta’s Threads.

The next-gen Myspace built up some momentum earlier this year when 500,000 people signed up for its pre-launch waitlist following a flurry of viral TikToks about the app. It’s backed by Reddit cofounder Alexis Ohanian’s venture fund and has raised about $19 million.

Noplace’s next challenge will be to sustain its early hype — which a flurry of new social apps over the last few years have struggled to do (looking at you, BeReal, Lapse, Peach, and many others).

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Alphabet sold $3.6 billion in Japanese yen bonds — a record for a foreign company — likely to help its AI capex binge

We now have the value for Alphabet’s Japanese yen bond raise — 576.5 billion yen, or $3.6 billion — and it’s a record for a foreign issuer in Japan. The deal was spread across seven tranches with maturities ranging from 3 to 40 years, allowing the company to lock in rates as low as 1.965%.

The latest deal comes on the heels of Alphabet’s massive US and European bond deals, where the company has tapped global markets for nearly $60 billion in fresh capital over the last few months. In a filing earlier this week, the search giant said it would use the proceeds for “general corporate purposes.” That likely means fueling its AI infrastructure build-out, which has pushed its projected 2026 capex bill to a staggering $190 billion.

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Bloomberg: Relationship between OpenAI and Apple has deteriorated and legal action may be imminent

The two-year-old alliance between Apple and OpenAI has deteriorated, Bloomberg reports, with the AI giant now consulting legal counsel about issuing a potential breach of contract notice.

OpenAI executives allege that Apple failed to adequately integrate and promote ChatGPT on the iPhone, causing the AI firm to lose out on billions a year in subscriptions and hurt its brand, according to the report.

Meanwhile, Apple has expressed concerns over OpenAI’s privacy protection, and has been miffed that OpenAI has been working on its own hardware with former Apple design lead Jony Ive.

More recently, Apple, which has trailed its peers in developing AI, has decided to offer users their choice of AI models, rather than aligning exclusively with OpenAI’s.

Meanwhile, Apple has expressed concerns over OpenAI’s privacy protection, and has been miffed that OpenAI has been working on its own hardware with former Apple design lead Jony Ive.

More recently, Apple, which has trailed its peers in developing AI, has decided to offer users their choice of AI models, rather than aligning exclusively with OpenAI’s.

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