Netflix Makes a Bold Move: Basic Plan Axed in Canada

Netflix Makes a Bold Move: Basic Plan Axed in Canada: Folks, it’s that time of the week again. Week in Review (WiR) is TechCrunch’s weekly recap of the previous week in technology. Are you new here? Sign up here to receive WiR in your inbox every Saturday, then continue reading for a summary of the week’s events.

This week, we discuss Netflix’s quiet cancellation of its basic plan in Canada, the shutdown of the IRL social app after it was discovered that the majority of its users were false, and the record-breaking sales of the Flipper hacking device. In addition, TC has news about Lenovo’s Yoga Book 9i dual-screen laptop, DeepMind’s next chatbot that will compete with ChatGPT, and Robinhood’s acquisition of a credit startup. Phew.

Most read about Netflix’s reduction of its basic plan — in Canada: Netflix has discreetly discontinued the $9.99 CAD per month plan for new subscribers in Canada. Ivan writes that this simplifies the streaming company’s offering but creates a significant difference between the ad-supported plan and the standard plan.

A unicorn social networking application is discontinued: Ironically, the users of the social programme IRL do not exist in real life. The board of directors of IRL discovered through an internal investigation that 95% of the app’s purported 20 million users were automated or bots. IRL is closing down, having raised more than $200 million in venture capital.

The unveiling of Lenovo’s Yoga Book 9i at CES earlier this year was met with both admiration and scepticism due to the device’s dual functionality. With two 13-inch OLED displays connected by a central hinge, it is one of the most unusual laptop designs ever to be manufactured. And, according to Darrell, it is the first to demonstrate that the dual-screen paradigm can work for a large number of people — and work exceptionally well.

Flipper sells like hotcakes: You may have heard of the Flipper Zero hacking device that has been making the rounds. It includes a variety of ways to manipulate the world around you, such as RFID card systems, remote keyless systems, key fobs, entry barriers, and more. The company claims it is on course to sell $80 million worth of products this year, after selling nearly $5 million worth as Kickstarter preorders, and $25 million worth of devices last year.

X1 is acquired by Robinhood: On Thursday, Robinhood announced that it would acquire the no-fee credit card startup X1 for $95 million in cash. Since its founding in 2020, X1, which offers an income-based credit card with rewards, has raised a total of $62 million in venture capital funding from investors such as Soma Capital, FPV, Craft Ventures, and Spark Capital.

The plan of Shein backfires: As Shein pursues an IPO, the company’s image requires a complete overhaul. Shein has fallen out of favour on social media due to its theft of independent designers’ work and violation of local labour laws, so the company invited a group of influencers to tour one of its factories in Guangzhou, China. Critics note that it was a carefully orchestrated brand tour in which influencers were offered free travel and gifts to encourage them to promote a positive company image.

Databricks acquires MosaicML: This week, Databricks announced that it will pay $1.3 billion to acquire MosaicML, an open source startup with expertise in neural networks that developed a platform for organisations to train and deploy generative AI tools based on large language models. Prior to that, MosaicML had raised just under $64 million from investors such as Atlas, Playground Global, and Samsung Next.

ChatGPT on mobile can now access the web via Bing. However, only through Bing — for better or worse. This week, OpenAI announced that subscribers to ChatGPT Plus, the premium version of the company’s AI-powered chatbot, can use a new feature called Browsing on the ChatGPT app that allows users to search Bing for answers to queries using ChatGPT.

Audio In search of a podcast to pass the time? You’ve arrived at the proper location. TC has your back.

On Equity, the team began by discussing Honey Homes’ recent funding and Gusto’s partnership with Remote; they then dove into the most recent surge of M&A, including Visa’s acquisition of Pisto and Databricks’ partnership with MosaicML.

In the meantime, Found featured the founders of Spout, a company that manufactures a device that can extract fresh potable water from the air.

This week’s episode of Chain Reaction welcomed Jack Lu, co-founder and CEO of NFT marketplace Magic Eden, to discuss the current state of the cryptocurrency market.

The TechCrunch Podcast also discussed Shein’s invitation of several fashion influencers to its Chinese facilities. The internet did not approve of the ruse.

TechCrunch+ TC+ subscribers have access to in-depth commentary, analysis, and surveys; if you’re already a subscriber, you already know this. If you are not a member, consider joining. This week’s highlights are as follows:

M&A returns: It has been a calm year for mergers and acquisitions in the technology sector. This week, however, it appears as though the M&A floodgates have finally opened and activity has begun.

Big Tech is on board with generative AI: As the competition to develop generative AI tools for the enterprise devolves into a free-for-all, Big Tech firms are employing their most potent weapons: cash. Will this pattern persist? This is an open-ended query.

When corporations wield more influence than nations: If Apple were a country, according to the CIA’s World Factbook, its revenue would rank fifty on the list of countries ranked by GDP. Apple, as a nation, would generate more wealth than Norway, Portugal, and Greece, and only slightly less than Hong Kong, Peru, and Israel. Should this be the case? Haje investigates.