FTC Votes to Ban Non-Compete Agreements, Apple Cuts Vision Pro Forecast, Veeam Buys Coveware

Business of Tech

The Federal Trade Commission (FTC) has taken a significant step by voting to ban nearly all non-compete agreements, a move expected to have a substantial impact on the workforce and the economy. These agreements typically restrict workers from joining competing businesses or starting their own, with the aim of preventing workers from being trapped in abusive workplaces.

Apple's Vision Pro mixed reality headset, which initially generated hype and sold out quickly, is now facing a significant decline in interest and sales. Customer complaints include issues such as impracticality in everyday use, discomfort, difficulty finding apps, and a sense of isolation. As a result, Apple is reportedly cutting its shipment forecast for the Vision Pro headset for the rest of the year due to cooling demand. The company now expects to sell only around 400,000 to 450,000 units in 2024, compared to the previous market consensus of 700,000 to 800,000 units.

Three things to know today

00:00 FTC Votes to Ban Noncompete Agreements, Predicting $300 Billion Wage Increase Annually

05:23 Apple Cuts Vision Pro Headset Forecast Amid Cooling Demand, Delays Cheaper Model

07:45 Veeam Enhances Cybersecurity Posture with Acquisition of Incident Response Firm Coveware

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