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Techmeme
November 20, 2018, 11:05 AM
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Kate Rooney / CNBC:
Bitcoin hit its lowest level in more than a year on Monday, falling under $5,000, with the entire cryptocurrency market cap losing roughly $40B in the past week  —  - The world's largest cryptocurrency is now down 22 percent in the past week, falling as much as 12 percent Monday to its lowest level in more than a year.
Sean Hollister / The Verge:
Valve is discontinuing its Steam Link hardware, which allowed users to stream games from PC to other devices like the TV  —  We hardly knew ye  —  Why am I sad that a tiny black puck which streamed games over a Wi-Fi network will soon disappear from shelves around the world?
Josh Constine / TechCrunch:
Instagram says it will use machine learning to find and remove inauthentic likes, follows, and comments from accounts using third-party apps to boost popularity  —  Instagram is fighting back against automated apps people use to leave spammy comments or follow then unfollow others in hopes of growing their audience.
Margaret Sullivan / Washington Post:
Zuckerberg should give up his dual role as Facebook CEO and chairman, stepping down as chairman and appointing an independent director to oversee the board  —  Facebook founder Mark Zuckerberg once set out a bit of digital-world wisdom that became his company's informal motto: “Move fast and break things.”
Natasha Lomas / TechCrunch:
Eight parliaments are now demanding Zuckerberg answer questions about fake news and more, as Brazil, Latvia, and Singapore join a UK-led grand committee
Deepa Seetharaman / Wall Street Journal:
Sources: this June, Zuckerberg told ~50 execs that Facebook was at war and he'd act more decisively, leading to reorgs, key departures, tension with Sandberg
Reuters:
SoftBank invests $2B in South Korean e-commerce company Coupang, source says at a ~$9B valuation  —  SoftBank Group Corp's Vision Fund is investing $2 billion in South Korea's top e-commerce firm Coupang, the retailer said on Tuesday, as the loss-making startup girds for battle against rivals backed by the country's cash-rich chaebol.
Alex Heath / Cheddar:
Sources: Snap is planning to release new Spectacles with two cameras and an aluminum frame for $350 by the year's end  —  Snap Inc. is planning to release a new version of its Spectacles glasses with two cameras and a higher price point of $350 by the end of the year, Cheddar has learned.
More: Engadget
Tom Dotan / The Information:
Sources: Evan Spiegel spends most board meetings looking at his phone and messaging on Snapchat, seemingly dismissive of some members' “short term” concerns
Kevin Kelleher / Fortune:
The stocks of Amazon, Apple, Facebook, Google, and Netflix have all declined 20% or more in value in recent months, pushing them into bear market territory  —  Tech investors resumed their selloff of the large-cap FAANG stocks, with the five tech giants all sustaining declines of 20% or more …
Kyle Wiggers / VentureBeat:
Microsoft acquires Atlanta-based app provisioning and virtualization startup FSLogix, to improve Office 365 performance in “multi-user virtual environments”  —  Another day, another profitable exit for a well-regarded startup.  Microsoft today announced that it has acquired Atlanta …

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From Mediagazer

Salon:
Salon, launched in 1995 to cover politics, culture, and more, says it is closing: “business realities of independent digital journalism have changed profoundly”

Matthew Keys / TheDesk.net:
Nexstar reports Q3 net income up 285% YoY to $250M and net revenue up 78% YoY to $2.1B, as Q3 political ads brought in $317M; results include Tegna numbers

Gene Maddaus / Variety:
How Democrats' midterm wins may affect Hollywood and media: uncertainty over federal tax incentive bill, greater FCC oversight, restoring CPB funding, and more

More News

Earlier Picks

Ina Fried / Axios:
Tim Cook says some government regulation of Silicon Valley is inevitable, defends deal to make Google Apple's default search engine despite privacy concerns
Wall Street Journal:
Sources: Apple reduced production orders for all new iPhone models in recent weeks; iPhone XR production was slashed by up to one third of the initial 70M
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