US GDP Steady, Intel's Historic Loss, CompTIA's For-Profit Shift & Tech Hiring Trends
11/04/24 • 11 min
The latest economic indicators highlight a steady U.S. GDP growth rate of 2.8% for the third quarter of 2024. This growth is supported by a notable increase in consumer spending, which rose at a 3.7% annualized rate. However, the job market shows signs of stagnation, with only 12,000 new jobs added in October, raising concerns about underlying weaknesses. Despite the unemployment rate remaining steady at 4.1%, the episode emphasizes the challenges faced by small businesses in filling job vacancies, particularly in sectors like construction and transportation.
Host Dave Sobel also delves into the tech employment landscape, noting that while the tech unemployment rate held steady at 2.6%, the sector experienced a slight decline in jobs. The report from CompTIA indicates a positive trend in job listings for tech positions, but the overall employment numbers reflect a tightening labor market. The episode highlights the struggles small businesses face in hiring qualified candidates, with many owners reporting unfilled job openings and a decrease in hiring efforts.
The episode shifts focus to Intel, which has reported a staggering $16.6 billion loss for the third quarter, marking the largest quarterly loss in its history. This loss is attributed to significant asset depreciation and restructuring charges following substantial layoffs. Sobel discusses the competitive landscape, particularly the challenges Intel faces from rivals like Nvidia and AMD in the AI chip market. In contrast, Reddit has reported its first profitable quarter as a public company, showcasing a significant turnaround and strong investor confidence.
Finally, the episode covers the acquisition of CompTIA's certification business by HIG Capital and Thoma Bravo, transitioning it to a for-profit model. This move raises questions about the future of CompTIA's mission to serve the IT industry and the implications for its existing non-profit organization. Sobel encourages listeners to reevaluate their relationships with CompTIA in light of these changes, emphasizing the evolving landscape of certification and training in the tech industry.
Three things to know today
07:10 H.I.G. Capital and Thoma Bravo to Acquire CompTIA’s Certification Business, Transitioning to For-Profit Model
Supported by: https://www.huntress.com/mspradio/
All our Sponsors: https://businessof.tech/sponsors/
Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/
Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/
Support the show on Patreon: https://patreon.com/mspradio/
Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech
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The latest economic indicators highlight a steady U.S. GDP growth rate of 2.8% for the third quarter of 2024. This growth is supported by a notable increase in consumer spending, which rose at a 3.7% annualized rate. However, the job market shows signs of stagnation, with only 12,000 new jobs added in October, raising concerns about underlying weaknesses. Despite the unemployment rate remaining steady at 4.1%, the episode emphasizes the challenges faced by small businesses in filling job vacancies, particularly in sectors like construction and transportation.
Host Dave Sobel also delves into the tech employment landscape, noting that while the tech unemployment rate held steady at 2.6%, the sector experienced a slight decline in jobs. The report from CompTIA indicates a positive trend in job listings for tech positions, but the overall employment numbers reflect a tightening labor market. The episode highlights the struggles small businesses face in hiring qualified candidates, with many owners reporting unfilled job openings and a decrease in hiring efforts.
The episode shifts focus to Intel, which has reported a staggering $16.6 billion loss for the third quarter, marking the largest quarterly loss in its history. This loss is attributed to significant asset depreciation and restructuring charges following substantial layoffs. Sobel discusses the competitive landscape, particularly the challenges Intel faces from rivals like Nvidia and AMD in the AI chip market. In contrast, Reddit has reported its first profitable quarter as a public company, showcasing a significant turnaround and strong investor confidence.
Finally, the episode covers the acquisition of CompTIA's certification business by HIG Capital and Thoma Bravo, transitioning it to a for-profit model. This move raises questions about the future of CompTIA's mission to serve the IT industry and the implications for its existing non-profit organization. Sobel encourages listeners to reevaluate their relationships with CompTIA in light of these changes, emphasizing the evolving landscape of certification and training in the tech industry.
Three things to know today
07:10 H.I.G. Capital and Thoma Bravo to Acquire CompTIA’s Certification Business, Transitioning to For-Profit Model
Supported by: https://www.huntress.com/mspradio/
All our Sponsors: https://businessof.tech/sponsors/
Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/
Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/
Support the show on Patreon: https://patreon.com/mspradio/
Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech
Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com
Follow us on:
LinkedIn: https://www.linkedin.com/company/28908079/
YouTube: https://youtube.com/mspradio/
Facebook: https://www.facebook.com/mspradionews/
Instagram: https://www.instagram.com/mspradio/
Previous Episode
Exploring Neuro-AI: Merging Neuroscience w/ Generative AI for Innovation & Patents w/ A. K. Pradeep
Host Dave Sobel engages in a fascinating discussion with Dr. A. K. Pradeep, a pioneer in the emerging field of neuro-AI. The conversation explores the intersection of neuroscience and generative AI, highlighting how insights from neuroscience can enhance the effectiveness of AI technologies in understanding consumer behavior. Dr. Pradeep emphasizes the importance of integrating these insights into AI algorithms to create more meaningful and persuasive marketing strategies, rather than relying solely on generative AI's creative outputs.
Dr. Pradeep explains that traditional generative AI models often lack the depth of understanding required to effectively engage consumers. By incorporating neuroscience principles, businesses can better grasp what motivates consumers and how to craft messages that resonate with them. He likens the integration of neuroscience and generative AI to building with Lego blocks, where each discipline serves as a crucial component in creating a more powerful and effective tool for innovation and marketing.
The episode also delves into practical applications of neuro-AI for small and medium-sized businesses. Dr. Pradeep discusses how his company, Sensory.ai, has developed platforms that come pre-equipped with neuroscience insights, allowing businesses to focus on their core operations without the burden of extensive model training. Instead of reinventing the wheel, business owners can provide specific guardrails to guide the AI in generating tailored content that aligns with their brand and target audience.
Finally, the conversation touches on the potential for neuro-AI to drive innovation by uncovering non-conscious consumer needs that traditional market research methods often overlook. Dr. Pradeep shares his experience with algorithms that can innovate product ideas based on deep consumer insights, ultimately empowering small businesses to protect their intellectual property through automated provisional patent generation. This episode offers a compelling look at how the fusion of neuroscience and AI can transform marketing and product development, enabling businesses to connect more effectively with their customers.
Supported by: https://getthread.com/mspradio/
https://www.coreview.com/msp/
All our Sponsors: https://businessof.tech/sponsors/
Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/
Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/
Support the show on Patreon: https://patreon.com/mspradio/
Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech
Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com
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LinkedIn: https://www.linkedin.com/company/28908079/
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Next Episode
AI Adoption Challenges, Cybersecurity Threats, Kaseya on Automation, and Windows Server 2025 Launch
The findings of a recent report highlight the challenges faced by C-suite executives regarding aging IT systems amidst a surge in AI adoption. While 90% of executives believe their technology is top-notch, nearly two-thirds acknowledge that outdated infrastructure poses significant issues, with many critical IT systems nearing the end of their life cycle. The report also reveals that although 75% of organizations are investing in AI and machine learning, less than half report a positive return on investment, raising concerns about cyber attack preparedness among executives.
The episode also delves into a growing trend of cloud repatriation, as organizations grapple with unexpected costs and performance issues in cloud environments. A recent IDC report indicates that 50% of companies spent more on cloud services than anticipated, prompting some to transition specific workloads back in-house. The case of SaaS company 37Signals, which plans to save $10 million over five years by moving away from cloud services, exemplifies this trend. Sobel emphasizes the importance of differentiating between various levels of AI adoption, noting that many organizations may only be conducting small-scale experiments rather than full-scale implementations.
Host Dave Sobel highlights the rising threat of voice-based AI scams, referencing a study from the University of Illinois that demonstrates how OpenAI's ChatGPT-4 can be exploited for financial scams with success rates between 20% to 60%. Additionally, he discusses a new threat campaign where hackers impersonate IT support on Microsoft Teams, urging organizations to implement training programs to raise awareness of evolving social engineering threats. The Cybersecurity and Infrastructure Security Agency (CISA) has also issued warnings about a large-scale spear-phishing campaign targeting federal executives, emphasizing the need for protective measures.
Finally, the episode covers significant developments in automation and AI within the managed services sector, particularly at DattoCon, where Kaseya projected that up to 70% of repetitive tasks performed by managed service providers will be automated by 2026. Sobel also discusses Runway's innovative AI tool that customizes outreach to potential clients, reflecting a broader trend of leveraging AI to optimize sales processes. The episode concludes with a discussion on the general availability of Windows Server 2025, which introduces significant advancements and is positioned as a robust solution for on-premises and hybrid cloud deployments.
Four things to know today
Supported by: https://www.huntress.com/mspradio/
All our Sponsors: https://businessof.tech/sponsors/
Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/
Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/
Support the show on Patreon: https://patreon.com/mspradio/
Want to be a guest on Business of Tech: Daily 10-Minute IT Services Insights? Send Dave Sobel a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/businessoftech
Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com
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