Issue #71

Deel caught spying, Monzo makes a billion, Meta makes marketing shares slump, and more. 

News from May 29 - June 5, 2025

Deel Caught Spying

HR tech company Deel accused its rival, Rippling, of impersonating a customer to access critical company information. This comes after Rippling accused one of its employees of spying for Deel in March. 

In its counter lawsuit, Deel claims one of Rippling’s employees impersonated a customer for six months, gained access to its systems, and recorded and copied Deel’s products. Deel insists it is because Rippling CEO Parker Conrad has a personal feud with the company’s VC backer, Andreessen Horowitz, leading to Rippling spreading false information about their rival. 

Deel: “Sadly, it is now apparent that Conrad has made it his life’s goal to exact misguided and petty revenge on those connected with Andreessen, including Deel, in which Andreessen owns a 20% share.”

Source

Monzo Makes a Billion

Monzo made over $1 billion in revenue for the first time since its inception in 2015, marking the company’s first profitable year. 

The British fintech unicorn posted a revenue boost of 48%, with pretax profits of £60.5 million up from £13.9 million the previous year. This comes after it increased its customer base by 25%. 

The mobile-first bank app wants to expand into Europe and go public in either the UK or the USA, but there is no agreement on where to list its Initial Public Offering (IPO). Sources say the board favours London, while CEO TS Anil favours the USA. 

Monzo CEO TS Anil: “We believe we'd make a great public company one day and we're well on the trajectory to doing that when we choose to, but it's just not something we're focused on right now.” 

Source

Meta Makes Marketing Shares Slump

Meta will let advertisers on Facebook and Instagram create ads using AI by the end of 2025. The AI tool will create entire ads from scratch, including imagery, video and text, and target users within a client’s allocated budget. Data-driven geolocation targeting will enable the AI tool to personalise ads in line with user interest and offer tailor-made deals.

Upon the news of the rollout on Monday, investors sold shares in some of the world’s biggest marketing companies. Shares in WPP dropped 3%, Publicis Groupe (3.9%) and Havas (3%). 

Meta chief marketing officer Alex Schultz: “For these businesses who aren’t able to work with an agency, or don’t have time during their busy days to think about their creative or targeting, that’s where AI can help level the playing field.”

Source

Bulletin Board

• Record Labels Want Equity. Major record labels Universal, Warner and Sony are reportedly negotiating licensing terms with startups Udio and Suno, whose AI tools enable users to generate songs with prompts. This comes after the record labels sued the startups for copyright infringement last year, and Warner Group recorded its lowest shares in 2 years. The record labels want equity in the startups, copyrighted work to be attributed when used, and compensation for artists. This deal would provide a blueprint for how AI companies compensate artists for the use of their work. Source
• ‍Microsoft Increases Carbon Emissions. Since 2020, Microsoft’s carbon emissions increased by 23.4% after scaling its data centre capacity. Both steel and concrete are carbon-intensive, and the production of computer chips releases hexafluoroethane, one tonne of which generates as much global warming as 9,200 tonnes of CO2. This brings the company further from its 2030 goal of removing more carbon than it creates. Microsoft spokesperson: “Our electricity consumption has grown faster than the grids where we operate have decarbonised.” Source
• ‍Scientists Develop Living Plastic. Swiss researchers at the Swiss Federal Laboratories for Materials Science and Technology, also known as Empa, developed a living gel-like compound from mushrooms, which could provide a biodegradable alternative to plastic. It was grown from the split gill mushroom’s mycelia and dried in thin, tear-resistant, edible strips that can be used for shopping bags, as well as food and cosmetic emulsifiers. Empa researcher Ashutosh Sinha: “This is probably the only type of emulsion that becomes more stable over time." Source
• ‍Officials Save Five Days With AI. A UK government study found that civil servants saved an average of 5 days per year by using Microsoft Copilot in their workflow. The 3-month study of 20,000 civil servants found that 70% spent less time doing mundane tasks and more time on strategy. The GDS study: "Perceived concerns with security and the handling of sensitive data led to reduced benefits in a minority of cases. Limitations were observed when dealing with complex, nuanced, or data-heavy aspects of work." Source‍
• Klarna Changes Image. Swedish fintech Klarna, the popular buy-now-pay-later provider, has unveiled its own Visa debit card, which it’s trialling in the US ahead of a mass rollout in the US and EU. According to Klarna, they want to change their image and be seen as a comprehensive banking player. Klarna CEO Sebastian Siemiatkowski: “We are basically a neobank to a large degree, but people associate us still strongly with buy now, pay later." Source

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