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Twitter buys Magic Pony for artificial intelligence tech and talent

Twitter has been eyeing several startups lately to add to their technology arsenal. Their newest acquisition could greatly enhance their live video and imagine capabilities.

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Giddy up, tweeps!

Twitter users may soon notice a great improvement in the visual content of their apps, if their latest acquisition is any indicator. Twitter recently acquired a new-ish startup based in London specializing in artificial intelligence (AI). The company, Magic Pony, uses machine learning to build improved systems for visual processing. More specifically, according to Twitter’s blog post, Magic Pony’s technology is, “based on research by the team to create algorithms that can understand the features of imagery and will be used to enhance Twitter’s strength in live and video.”

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Why Magic Pony?

Twitter plans to add this technology to other recent acquisitions including Madbits and Whetlab. Magic Pony’s team, including 11 PhDs, will be added to the Twitter Cortex team. This team is comprised of engineers, data scientists, and machine learning researchers dedicated to building a products that are engaging and innovative.

Twitter plans to continue “building strength in their deep learning teams with world-class talent to help Twitter be the best place to see what’s happening and why it matters, first.”

This may be a nod to their earlier acquisition, Periscope. They could be planning to use Magic Pony’s technology to innovate Periscope along with their other apps.

What can Twitter do with this new technology?

Magic Pony’s technology can restore lost information to blurry pictures, create new visuals from scratch, and even “restore” or create a realistic face from scratch. In one example, Magic Pony showed a pixelated image of the main character of Doom, and then created a more life-like rendering.

Think about where this could take live facial recognition software, cleaning up video imaging, and everything else under the sun to do with video.

Twitter has declined to share how much they paid for Magic Pony, however, TechCrunch, citing sources, says Twitter will paid $150 million for the company, including bonuses. This clearly demonstrates the company’s commitment to live video, but their competition is fierce. Magic Pony offers another advantage here as well: Magic Pony is said to be one of the fastest loading, stable platforms in visual processing.

20 patents of awesomeness

Again, according to TechCrunch, Magic Pony has remained, for the most part, off the radar; their website has never offered more than a simple statement about what it does and the number of patents that it has filed (there are around 20 now, with several of them listed here) which will now belong to Twitter. It seems as though the social media company has made a wise investment in their future. What do you think Twitter will do with their recently acquired technology?

#TwitterXMagicPony

Jennifer Walpole is a Senior Staff Writer at The American Genius and holds a Master's degree in English from the University of Oklahoma. She is a science fiction fanatic and enjoys writing way more than she should. She dreams of being a screenwriter and seeing her work on the big screen in Hollywood one day.

Social Media

Why Trump’s lawsuit against social media still matters

(SOCIAL MEDIA) Former President Trump snagged headlines for suing every large social media platform, and it has gone quiet, but it still deeply matters.

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It was splashed across headlines everywhere in July: Former President Trump filed a lawsuit against social media platforms that he claims unrightfully banned him during and after the fallout of the January 6th capitol riots. The headlines ran for about a week or so and then fell off the radar as other, fresher, just-as-juicy news headlines captured the media’s eye.

Many of us were left wondering what that was all about and if anything ever became of it. For even more of us, it probably passed out of our minds completely. Lack of public awareness for these things is common after the initial media blitz fades.

Lawsuits like these in the US can take months, if not years between newsworthy milestones. The most recent news I could find as of this publishing is from August 24, 2021, on Yahoo! News from the Washington Examiner discussing the Trump camp’s request for a preliminary injunction in the lawsuit.

This particular suit shouldn’t be left to fade from memory in the shadows though, and here’s why:

In the past few years, world powers have been reigning in regulations on social media and internet commerce. The US is actually a little behind the curve. Trump may have unwittingly given us a source of momentum to get with the times.

In the European Union, they have the General Data Protection Regulation (GDPR), widely acknowledged to be one of the toughest and most thorough privacy laws in the world, a bold title. China just passed its own pair of laws in the past four months: The Data Security Law, which took effect on Sept. 1, and The Personal Information Law, set to take effect November 1st. The pair is poised to give the GDPR a run for its money for that title.

Meanwhile, in the US, Congress has been occupied with other things and, while there are five bills that took aim at tech monopoly currently on the table and a few CEOs had to answer some questions, little actual movement or progress has been made on making similar privacy protections a thing in the United States.

Trump’s lawsuit, while labeled by many as a toothless public relations move, may actually create momentum needed to push regulation of tech and social media forward in the US. The merits of the case are weak and ultimately the legislation that would give it teeth doesn’t exist yet.

You can’t hold tech companies accountable to a standard that doesn’t properly exist in law.

However, high profile attention and someone willing to continue to make noise and bring attention back to the subject, one of Trump’s strongest talents, could be “just what the doctor ordered” to inspire Congress to make internet user rights and data privacy a priority in the US, finally.

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Even solopreneurs are doing live commerce online – it’s not just QVC’s game anymore

(SOCIAL MEDIA) When you think of watching a show and buying things in real time, it invokes thoughts of QVC, but social media video has changed all that.

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After the year everyone has had, one wouldn’t be remiss in thinking that humanity wants a break from live streaming. They would, however, be wrong: Live online commerce – a method of conversion first normalized in China – is the next evolution of the ubiquitous e-commerce experience, which means it’s something you’ll want on your radar.

Chinese company, Alibaba first live streamed on an e-commerce site in 2016, allowing buyers to watch, interact with, and buy from sellers from the comfort of their homes. In 2020, that same strategy netted Alibaba $7.5 billion in presale revenue – and it only took 30 minutes, according to McKinsey Digital.

But, though western audiences have proven a desire to be just as involved with sellers during the buying process, live commerce hasn’t taken off here the way it has elsewhere. If e-commerce merchants want to maximize their returns in the next few years, that needs to change.

McKinsey Digital points out a couple of different benefits for organizations using live commerce, the main one being an influx in traffic. Live streaming events break the buying experience mold, and consumers love being surprised. You can expect that prospective buyers who wouldn’t necessarily visit your store under normal circumstances would find value in attending a live event.

Live events also keep people on your site for longer, resulting in richer conversion opportunities.

The sense of urgency inherent in in-person shopping doesn’t always translate to online markets, but having a stream showing decreasing inventory or limited-availability items being sold inspires people to act expeditiously rather than sitting on a loaded cart–something that can kill an e-commerce conversion as quickly as it starts one.

There are a ton of different ways to incorporate live events into your e-commerce campaigns. Virtual auctions are popular, as are markets in which individual sellers take buyers through inventory. However, the live event could be tangentially related–or even just something impressive running in parallel with the sale–and still bring in a swell of revenue.

Screen fatigue is real, and there isn’t a true substitute for a brick-and-mortar experience when done correctly. But if you have an e-commerce shop that isn’t utilizing some form of live entertainment–even just to bring in new buyers–you’re going to want to try this strategy soon.

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LinkedIn is nixing Stories this month (LinkedIn had Stories!?)

(SOCIAL MEDIA) LinkedIn tried to be like the cool kids and launched “Stories,” but the video feature is being shelved and “reimagined.” Ok.

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Creating the next big thing is essential for social networks to stay relevant, continue growing, and avoid shutting down. Sometimes, this leads to businesses trying to ride along with the success of another app’s latest feature and creating their cloned version. While the logic of recreating something already working makes sense, the results aren’t universal.

This time around, LinkedIn is saying goodbye to its short-lived Snapchat-like video product, Stories. In a company post, LinkedIn says it’s removing its Stories experience by the end of September.

Why is LinkedIn retiring Stories?

According to a post by Senior Director of Product at LinkedIn Liz Li, “[LinkedIn] introduced Stories last year as a fun and casual way to share quick video updates.”

After some testing and feedback, they learned this is not what users wanted. Seems like they could have beta tested with users and heard the same thing, but I digress.

“In developing Stories, we assumed people wouldn’t want informal videos attached to their profile, and that ephemerality would reduce barriers that people feel about posting. Turns out, you want to create lasting videos that tell your professional story in a more personal way and that showcase both your personality and expertise,” said Li.

What does this mean for users?

Starting on September 30, 2021, users will no longer be able to create Stories for Pages. If you’ve already planned to have an image or video ads run in-between Stories, they will now appear on the LinkedIn feed instead. For those who used Campaign Manager to promote or sponsor a Story directly from your Page, the company says “these paid Stories will not appear in the LinkedIn feed”, and the user will need to recreate the ad in Campaign Manager.

What’s next for LinkedIn?

According to Li, LinkedIn is taking what it learned from its finding to “evolve the Stories format into a reimagined video experience across LinkedIn that’s even richer and more conversational.” It plans on doing so by using mixed media and the creative tools of Stories.

“As we reimagine what is next, we’re focusing on how we can provide you with a short-form, rich interactive video format that is unique to our platform and that better helps you reach and engage your audiences on LinkedIn. We’re always excited to try out new things and learn as we go, and will continue to share updates along the way,” the company said.

Although Stories didn’t work well for LinkedIn as they hoped, one thing is for sure. LinkedIn isn’t giving up on some form of interactive video, and we can only hope they “reimagine” something unique that keeps users coming back for more.

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