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November 20, 2018, 10:45 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.
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
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 …
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.
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

Paul Glynn / BBC:
HarperCollins UK drops children's author and comedian David Walliams following allegations of inappropriate behavior toward young women

Daniel Thomas / Financial Times:
Interview with WPP CEO Cindy Rose, who says AI puts pressure on the ad agency's pricing and WPP has 10K data scientists and software engineers and 12K creatives

Ken Vogel / @kenvogel:
Politico ends its print edition after 19 years, as its early reliance on print ad revenue fades and its audience relies more on digital platforms

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
Edmund Lee / New York Times:
BuzzFeed CEO Jonah Peretti suggests the site could eventually merge with rival publishers to negotiate better terms with companies like Facebook and Google
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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