Apple's Lack Of Clear AI Strategy A Warning Flag, Analyst Says
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Gizmodo
2 minutes ago
- Gizmodo
Peloton Wants You to Sell That Dusty Bike
Has your Peloton bike been collecting dust or doubling as a clothes rack? You're not alone, and now the fitness tech company is making it easier to get those unused bikes into the homes of people who will actually ride them. Peloton just expanded its resale marketplace for bikes, treadmills, and rowing machines nationwide. Peloton first launched the platform in June in only a few markets—Boston, New York, and the D.C. metro area. Since then, users have created over 400 listings and completed roughly three dozen sales. The expansion is part of the struggling company's broader turnaround strategy. 'This initiative provides a valuable service to our community, offering an accessible entry point for new members, a convenient way for existing members to upgrade or sell their equipment, and an opportunity for our equipment to be given a second life,' Chief Product Officer Nick Caldwell said in a press release. Starting today, Peloton owners across the country will be able to list their used equipment and accessories on the platform. And buyers nationwide will be able to make purchases beginning in August. Peloton says it will suggest prices based on market trends and the condition of the user's gear, but sellers still get to set the final price. Those who offload their old equipment on the marketplace will earn some cash from the sale and will receive a discount on their next Peloton purchase. Bikes on the marketplace are listed for as low as $289, hundreds of dollars cheaper than their original $1,445 retail price. Peloton launched in 2012 and quickly gained a reputation as a premium fitness brand, selling pricey equipment with built-in screens that stream live and on-demand workout classes that are available through an additional subscription. The company hit its stride during the covid-19 pandemic, when gyms were closed and people were scrambling for ways to stay active at home. But that momentum didn't last. As life slowly returned to normal after the pandemic, so did people's workout routine outside the home. The company's stock has dropped 95% from its early 2021 peak of nearly $170 a share to around $6 today. And sales of Peloton's fitness equipment are still dropping. In May, the company reported a 27% year-over-year decline in equipment sales during its fiscal third quarter. Earlier this year, Peloton brought in Peter Stern—formerly head of Ford's integrated services division—to take over as CEO. Before his time at Ford, Stern spent years at Apple, where he led the company's services division, overseeing products like Apple TV+ and Apple Fitness+. At the Bloomberg Tech conference in June, Stern said the new marketplace is a key part of Peloton's turnaround strategy. He said the secondhand market was one of the most effective ways for the company to bring in new members. 'There are lots of Peloton bikes in particular that are out there in the world that are being underutilized—and that does no one any good,' Stern said.
TechCrunch
2 minutes ago
- TechCrunch
YouTube rolls out age estimation tech to identify US teens and apply additional protections
YouTube on Tuesday announced it's beginning to roll out age estimation technology in the U.S. to identify teen users in order to provide a more age-appropriate experience. The company says it will use a variety of signals to determine the users' possible age, regardless of what the user entered as their birthday when they signed up for an account. When YouTube identifies a user as a teen, it introduces new protections and experiences, which include disabling personalized advertising, safeguards that limit repetitive viewing of certain types of content, and enabling digital wellbeing tools such as screen time and bedtime reminders, among others. These protections already exist on YouTube, but have only been applied to those who verified themselves as teens, not those who may have withheld their real age. For instance, in 2023, YouTube began limiting repeated viewing of videos that could trigger body image issues or those that display social aggression. The company has also been developing digital wellbeing tools since 2018. If the new system incorrectly identifies a user as under 18 when they are not, YouTube says the user will be given the option to verify their age with a credit card, government ID, or selfie. Only users who have been directly verified through this method or whose age has been inferred to be over 18 will be able to view the age-restricted content on the platform. The machine learning-powered technology will begin to roll out over the next few weeks to a small set of U.S. users and will then be monitored before rolling out more widely, the company says. The plans to introduce age inference technology were first announced in February as part of YouTube's 2025 roadmap. The plans are also the latest step in attempting to make YouTube safer for younger users, following the 2015 launch of the YouTube Kids app and the 2024 rollout of supervised accounts. The features also arrive as social media more broadly is coming under increased government scrutiny in the United States, where platform makers, including Apple and Google, have pitted their lobbyists against those from big tech companies like Meta over who's responsible for age verification and children's safety. In the meantime, a handful of U.S. states have taken matters into their own hands, as over a dozen states have passed or proposed laws to regulate minors' use of social media. Many of these require age verification or parental consent, including those in Louisiana, Arkansas, Florida, Georgia, Utah, Texas, Maryland, Tennessee, Connecticut, among others. (However, some laws, like those in Utah and Arkansas, are blocked by litigation at this time and are not enforceable, while others are still pending implementation.) Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW The U.K. also began enforcing its own age verification checks this week following the 2023 passing of the Online Safety Act. YouTube isn't sharing specifics about the signals it's using to infer a user's age, but notes that it will look at some data like the YouTube activity and the longevity of a user's account to make a determination if the user is under 18. The new system will apply only to signed-in users, as signed-out users already cannot access age-restricted content, and will be available across platforms, including web, mobile, and connected TV.
Business Wire
2 minutes ago
- Business Wire
Law Offices of Frank R. Cruz Encourages Lockheed Martin Corporation (LMT) Investors To Inquire About Securities Fraud Class Action
LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Lockheed Martin Corporation ('Lockheed Martin' or the 'Company') (NYSE: LMT) securities between , inclusive (the 'Class Period'). Lockheed investors have until September 26, 2025 to file a lead plaintiff motion. Law Offices of Frank R. Cruz Encourages Lockheed Martin Corporation (LMT) Investors To Inquire About Securities Fraud Class Action Share IF YOU SUFFERED A LOSS ON YOUR LOCKHEED MARTIN CORPORATION (LMT) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT. You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@ by telephone at (310) 914-5007, or visit our website at What Happened? On October 22, 2024, before the market opened, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at the Company's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' The Company also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options.' On this news, the Company's share price fell $37.63 or 6.12% to close at $576.98 on October 22, 2024, on unusually heavy trading volume. Then, on January 28, 2025, before the market opened, Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business. The Company explained 'as a result of performance trends' and 'in contemplation of near-term program milestones,' it had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. The Company further reported additional losses of approximately $1.3 billion in its Missiles and Fire Control business due to, among other things, the 'future requirements of the program, discussions with the customer and suppliers.' As a result, the Company's net earnings in 2024 were $5.3 billion, or $22.31 per share, compared to $6.9 billion, or $27.55 per share, in 2023. On this news, the Company's share price fell $46.24 or 9.2% to close at $457.45 on January 28, 2025 on unusually heavy trading volume. Then, on July 22, 2025, before the market opened, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues.' The Company also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' The Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the 'current status of the program.' As a result, the Company reported sharply lower net earnings of $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges. On this news, the Company's share price fell $49.79 or 10.8%, to close at $410.74 on July 22, 2025, on unusually heavy trading volume. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) that Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) that Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) that, as a result, the Company was reasonably likely to report significant losses; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. If you purchased Lockheed securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
