iWorld
YouTube adds two new virtual reality features on Android
MUMBAI: YouTube has trained its eyes on the next big thing in the digital video space – Virtual Reality (VR). The video network has added two new VR features to YouTube’s Android app.
“If we’ve learned anything in the past 10+ years at YouTube it’s that capturing and sharing videos is a great way to bring people there with you—whether “there” is an Icelandic glacier, a special performance by violinist Tim Fain, or just a friend’s birthday party,” YouTube VR senior product manager Kurt Wilms, YouTube product manager Sanjeev Verma and Jump product manager Husain Bengali collectively said in a post.
“Virtual reality makes the experience of being there even more awesome and immersive, so today we’re bringing two new VR features to YouTube’s Android app. All you need is your current phone, and a Google Cardboard viewer,” they added.
YouTube now supports VR video – a brand new kind of video that makes you feel like you’re actually there. Using the same tricks that we humans use to see the world, VR video gives you a sense of depth as you look around in every direction. Near things look near, far things look far. “So if you were excited about 360° videos, this is pretty freakin’ cool,” they added.
To give it a try, find a VR video on YouTube – like the Hunger Games Experience or TOMS Shoes Giving Trip – tap the new Cardboard icon, drop your phone into your Cardboard viewer, and you’re off!
Creators can also check out technologies like Jump to capture and share their own VR videos.
“Our second bit of news is for the universe of existing YouTube content. And that’s the fact that you can now watch any video using Google Cardboard, and experience a kind of virtual movie theater. Just select the new “Cardboard” option from the watch page menu, drop your phone into your viewer, and you’re done. You’ll now have the largest VR content library right at your fingertips,” they said.
iWorld
Snapchat parent Snap cuts 16 per cent of workforce in AI-driven restructuring
The Snapchat parent is axing around 1,000 jobs and closing 300 open roles to save $500m, as artificial intelligence makes smaller teams the new normal
CALIFORNIA: Snap is snapping. The Snapchat parent has confirmed plans to cut around 1,000 employees, roughly 16 per cent of its full-time workforce, as it bets that artificial intelligence can do what headcount once required. Shares jumped more than 10 per cent in premarket trading on the news, a brisk vote of confidence from a market that has watched the stock shed about 31 per cent this year.
The restructuring, which also closes more than 300 open roles, follows pressure from activist investor Irenic Capital Management, which holds an economic interest of about 2.5 per cent in the company and has been loudly pushing Snap to tighten its portfolio and lift performance. The firm got what it asked for, and then some.
Chief executive Evan Spiegel told employees the cuts would reduce annualised expenses by more than $500m by the second half of the year. The company expects to incur charges of between $95m and $130m related to the layoffs, mostly severance, with the bulk landing in the second quarter. Staff in Snap’s North America team were asked to work from home on the day of the announcement.
The financial backdrop is not without bright spots. Snap expects first-quarter revenue to rise around 12 per cent to approximately $1.53 billion, broadly in line with analyst estimates. Adjusted core profit for the January to March quarter is forecast at about $233m, comfortably ahead of Wall Street’s expectation of $186.8m.
The harder question surrounds Specs, Snap’s augmented reality smart glasses subsidiary, which Irenic has urged the company to spin off or shut down entirely. The unit has absorbed more than $3.5 billion in investment and burns through approximately $500m in cash annually. Snap is pressing ahead regardless, with a consumer product expected later this year, even as Meta leads the market in the segment.
Spiegel is betting that leaner teams, smarter machines and a consumer AR play can restore Snap’s credibility with investors who have run out of patience. The redundancy notices have gone out. The harder restructuring, the one that requires a hit product rather than a headcount reduction, is still very much pending.
