Twitter Makes Images 🖼 More Accessible
Scott D. Clary | Daily Business, Tech & Finance Newsletter
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Here’s whats happening:
- Twitter makes images more accessible
- Ford sees $1 billion more in costs amid inflation
- Ethereum v/s Solana: How they stack up in daily transactions
- Insurtech platform Zopper raises cash for expansion
- Metafy Cuts 23% Staff Across Various Teams
Twitter Makes Images 🖼 More Accessible
Twitter is introducing a new feature that will make images on the microblogging platform more accessible to users who use screen readers.
- Twitter introduced alt text (alternative text) reminders on its platform in July to only a small group of users.
- Alt text is a written description of what’s in an image that can be noticed by the screen reader software used by internet users who are visually impaired or blind.
- With the latest update, all users across the world will be able to turn on reminders.
Why does this matter?
Over the years, disability activists have lobbied Twitter to provide more tools around alt text and have asked other users to be more consistent with adding alt text to images.
The introduction of the alt text reminders feature will encourage more people on Twitter to add helpful descriptions to the images they Tweet and create a more inclusive experience for everyone on Twitter.
Ford Sees $1 Billion More 💵 in Costs Amid Inflation
Ford Motors has said that it expects to incur $1 billion more in costs during the third quarter due to rising inflation and ongoing supply chain problems.
- The automaker said supply chain problems had caused a backlog of parts affecting nearly 40,000 to 45,000 vehicles, mainly high-margin trucks and SUVs that haven’t been able to reach dealers.
- Ford now expects those inventoried vehicles to be completed and delivered to dealers in the fourth quarter.
What should you know?
- Ford changed its Q3 revenue and earnings before interest and taxes (EBIT) to the following quarter and now anticipates Q3 adjusted EBIT of $1.4 billion — $1.7 billion.
- Ford also expects higher payments to suppliers to account for the effects of inflation.
- The company said that recent negotiations in inflation-related supplier costs would result in the company incurring about $1 billion in higher costs than originally expected.
- Ford shares fell about 5% in extended trading following the update.
Ethereum v/s Solana: How They Stack up in Daily Transactions? 🤔
The Q2 of 2022’s on-chain statistics note that despite several limitations from both macroeconomic circumstances and network interruptions, Solana has outperformed Ethereum with daily transactions, reaching almost 40 million as compared to Ethereum’s 1 million daily transactions between April and June.
Despite having more volatility, Solana’s daily non-vote transactions showed a significant increase in volume compared to Ethereum, showing that hype does not always translate to increased acceptance.
On the other hand, Solana recorded 100 million to 200 million vote transactions every day.
The number was corroborated by a spike in the total number of wallets from 400,000 to over 1 million by the end of May 2022.
Why may users choose Solana?
Solana’s blockchain network runs on an innovative consensus mechanism called proof-of-history (PoH), allowing the network to operate faster. Solana’s PoH system allows its network to handle about 3,400 transactions per second, unlike Ethereum’s 15 transactions per second.
Insurtech Platform Zopper Raises Cash For Expansion 💰
Indian-based Insurtech platform Zopper has raised $75 million in its Series C funding round.
The funding was led by Creaegis, along with participation from ICICI Venture and Bessemer Venture Partners. Existing investor Blume Ventures also participated in the funding.
What will Zopper do with the funding?
This funding will support Zopper in fortifying its position as a leader in the insurtech industry.
It plans to deploy the fresh capital to scale its workforce and also explore opportunities to acquire smaller startups.
Founded in 2011, Zopper provides an application programming interface (API)-based software platform which connects insurers and banks with third-party platforms.
Through the integration, the platform allows third-party applications to embed and distribute insurance products to their customers.
The startup has more than 150 partners and 45 companies using its API and is present in over 1,200 cities.
Metafy Cuts 23% Staff Across Various Teams ✂️
Video game coaching marketplace Metafy laid off 23% of its workforce last week, mainly impacting product, design, and engineering teams.
Besides layoffs, the company has also announced pay cuts for its leadership team.
The company has not given any specific reason for layoffs, but it noted that the job cuts impacted roles that once made sense to Metafy. However, they are now difficult to justify.
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