Sam Bankman-Fried's trial begins 11 months after FTX's bankruptcy. Experts say he faces a minimum of 100 years in prison if convicted of all charges. Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York began the process of selecting a 12-member jury today ahead of his six-week trial. He is accused of siphoning billions of dollars in client funds between 2019 and November of last year, using them to pay off debt at FTX affiliate Alameda Research and to buy luxury real estate in the Bahamas. "If convicted of all charges, Bankman-Fried could be sentenced to more than 100 years in prison," CNBC reported.
Netflix has announced plans to raise the price of its ad-free subscription plans in the wake of the Hollywood actors' strike. The price hike will happen first in the U.S. and Canada, and it's not yet clear how much more Netflix will charge internationally. Netflix last raised prices in early 2022, charging $9.99 per month for the Basic plan, $15.49 per month for the Standard plan, and $19.99 per month for the Premium plan.
Microsoft (MS) CEO Satya Nadella said that Google is likely to further increase its dominance of the search market with artificial intelligence (AI), and that its "Bing" can't beat Google. Earlier this week, as part of the U.S. Department of Justice's antitrust case against Google, Nadella traveled to Washington, DC, to testify in support of the theory that Google has dominated the search engine market through unfair practices.