Thank goodness it's Thursday. I'm Diamond Naga Siu, and I miss working in offices: talking with colleagues, eating snacks, and taking in views.
But from a business perspective, these amenities aren't a priority anymore – not even in one of the top buildings in San Francisco.
As far as offices go, One Market Plaza is considered "one of the best, if not the best." Yet its occupancy future is uncertain. Heavyweights like Google and Visa rent there, but their commitment to so much office space is wavering.
This leaves the "trophy" building's finances in flux. And my colleague Daniel Geiger highlights how the story of One Market Place underscores the shaky office rental market.
Now, let's dive into today's tech.
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1. No more raises at Microsoft. CEO Satya Nadella announced that salaried employees won't get raises this year. The company does plan to continue giving promotions, bonuses, and stock. But Microsoft is also downsizing its budget for these types of awards.
- A separate email notified managers that fewer employees would get "exceptional rewards." Chief people officer Kathleen Hogan said that "more will need to be at the middle of the range."
- In his memo, Nadella said that the economic landscape looked different to 2022, and that the company was in the process of repositioning around AI.
- It's a stark contrast from last year when Microsoft promised widespread raises, writes my colleague Ashley Stewart. She obtained leaked copies of their emails and shared them in full:
Read Satya Nadella's email announcing the end of raises here.
Read Kathleen Hogan's email explanation to managers here.
In other news:
Courtesy of Google.
2. Google is going all-in on AI. At its annual I/O developer conference Wednesday, the company unveiled an AI-powered version of its search engine and compared it with asking a knowledgeable friend for advice. How you can try it out.
3. Etsy just launched a wedding registry service. Bed Bath & Beyond — a popular wedding registry destination — just filed for bankruptcy. So the handmade crafts site decided to launch its own. More on the new service here.
4. Facebook's parent company Meta wants to use AI to create tailored ads. It's secured a patent for "digital content customization via audience detection." AI could target and review the success of ads down to an individual. Check out the details here.
5. Most people on social media are using AI to create their content. A new survey of 660 influencers showed that 94.5% of them used AI for their content. Generating images and editing content were among the popular uses of AI. More on the sweeping trend here.
6. People are nervous about AI taking their jobs but want it to do parts of their roles. The Microsoft survey results highlight how people are split on whether the tech is good or bad. Take an AI temperature check here.
7. Get a refund on your Amazon Halo wearables. The company is ending support for its Halo line of fitness products, so all the devices will no longer function on August 1. Here's how to get a refund.
8. Elon Musk just teased a new Tesla Cybertruck. It appears to come with a tool rack, outfitted with futuristic-looking shovels. The electric truck also featured a massive windshield wiper. Hop in for a first look at the monster vehicle here.
Odds and ends:
Antonio Villas-Boas/Insider
9. Google wants to make foldable phones happen. The company showed off its first ever foldable phone, the Pixel Fold, on Wednesday and Insider's Antonio Villas-Boas was impressed by its five cameras and build quality. Check out the photos and specs.
10. A mysterious object that's 10 million times as bright as the sun. Scientists can't figure out why the unknown object hasn't exploded yet. Plus, they say it's too bright to exist, breaking the Eddington limit. Put your shades on for this bright puzzle here.
What we're watching today:
- Quarterly earnings for Foxconn, NewsCorp, and other companies. Keep up with earnings here.
- Happy birthday (and Asian American and Pacific Islander Heritage Month), Lana Condor!
Curated by Diamond Naga Siu in San Diego. (Feedback or tips? Email dsiu@insider.com or tweet @diamondnagasiu) Edited by Shona Ghosh (tweet @shonaghosh) and Hallam Bullock (tweet @hallam_bullock) in London.