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September 23, 2019, 5:20 AM
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memeorandum
WeSmirchTop News
| Wall Street Journal: |
Sources: several WeWork directors, including SoftBank members, plan to push for Adam Neumann to step down as CEO — SoftBank officials are among those expected to push for Neumann ouster — A bloc of WeWork directors is planning to push Adam Neumann to step down as chief executive …
More:
CNBC, New York Times, The Information, Fast Company, Bloomberg, Inc42 Media, SiliconANGLE, CNN, Financial Times, Telegraph, PYMNTS.com, Business Insider, TechCrunch, and Seeking Alpha
Tweets: @eliotwb, @sherman4949, @inafried, @tomfgoodwin, @ruskin147, @wallstcynic, @lizrhoffman, @zebulgar, @tomgara, @om, @alialsalim, @andrewrsorkin, @aexm, @andrewrsorkin, @djtgallagher, @wolfejosh, @sruhle, @dnvolz, @lizrhoffman, @jason, @sherman4949, @sameer_singh17, @seldo, @coryweinberg, @mattrosoff, @damiangarde, @aaronklein, @scottmaustin, @brianc13, and @danprimack. Thanks:@varun_mathur
| Josh Constine / TechCrunch: |
A look at Peloton, which may raise $1.2B in this week's IPO and sells $2.3K iPad-equipped stationary bikes and $40/mo. cycling video subscriptions to 510K+ subs — 13 reasons this bike has a cult — It makes lazy people like me work out. That's the genius of the Peloton bicycle.
Tweets: @joshconstine, @austen, @joshconstine, @joshconstine, @joshconstine, @joshconstine, @joshconstine, @joshconstine, and @joshconstine
| Reuters: |
Der Spiegel: US dollar could make up 50% of the basket of currencies backing Libra, followed by 18% of euro, 14% yen, 11% British pound, and 7% Singapore dollar — BERLIN (Reuters) - The U.S. dollar will make up 50% of the basket of currencies backing Facebook's planned digital coin Libra … | James V. Grimaldi / Wall Street Journal: |
Sources: anti-Amazon “grass roots” non-profit FFMI, which actively lobbies and influences media op-eds, is funded by Walmart, Oracle, other Amazon competitors — Walmart, Oracle and mall owner Simon Property Group are secret funders behind a nonprofit that has been highly critical of the e-commerce giant
More:
Forbes and PYMNTS.com
Tweets: @jaycarney, @wsj, @hypervisible, @jan_eeckhout, @jeffsmithmo, @karlbode, @jbenton, @alecstapp, @jaycarney, @quinnypig, and @werner
| Queenie Wong / CNET: |
Facebook will sunset its group stories feature, available globally since December of last year, on September 26 — Facebook is killing a feature that allows administrators and members who're part of the social network's groups to post videos and photos that vanish within 24 hours, the company said on Friday.| Ingrid Lunden / TechCrunch: |
Facebook acquires Servicefriend, a startup that builds customer service AI chatbots for messaging apps; founders now work for Facebook's Calibra, per LinkedIn — As Facebook prepares to launch its new cryptocurrency Libra in 2020, it's putting the pieces in place to help it run.
More:
The Next Web, Coinspeaker, The Block, Crowdfund Insider, PYMNTS.com, SiliconANGLE, Tehrani.com, and Cointelegraph. Tweets: @ourielohayon
| Todd Martens / Los Angeles Times: |
Apple Arcade may break the iOS game industry's risk-averse focus on in-app purchases, promoting games with higher quality than free-to-play games — The iPhone and its App Store changed gaming. And not always for the better. — Yet now with Apple Arcade, a game subscription service launching this week … | Steven Zeitchik / Washington Post: |
Streaming services are gambling big on old shows, like AT&T's $1B for Big Bang Theory and Netflix's $500M for Seinfeld, with no way to know their actual worth — The numbers are enough to make you think it's 1995 and George is first getting mad at Jerry for breaking their pact.
Tweets: @carnage4life, @mrinaldesai, and @bluff_capital
| William Foxley / CoinDesk: |
Korean exchange Upbit says it is delisting six “privacy coins” including Monero, Dash, and Zcash following June's FATF guidance and a similar delisting by OKEx — Another cryptocurrency exchange has delisted a slew of privacy coins following recent regulatory requirements …
More:
CoinGeek, Messari Crypto, PYMNTS.com, Micky, and Crowdfund Insider
Tweets: @bitentrepreneur, @coindesk, @kylesamani, and @staska
| Connie Loizos / TechCrunch: |
Legalist, which funds lawsuits for a cut of settlements based on algorithmically calculated chances of winning, raises a $100M legal fund, ~10x its first one — If you haven't heard much about litigation finance, that may change soon. The practice dates back decades … | Joanna Glasner / Crunchbase News: |
The number of $5M+ seed rounds in the US has risen steadily, from 45 in 2014 to 180 in 2018, but the trend may be cooling off, with 110 such rounds in 2019 YTD — Here at Crunchbase News, we've devoted a lot of coverage to the rise of supergiant rounds — our term for startup investments of $100 million and up.| New York Times: |
Profile of Rideshare Drivers United, a group of Uber and Lyft drivers in California who played a key role in getting recent gig economy labor legislation passed — When California lawmakers passed a worker-protection bill essentially requiring Uber and Lyft to treat drivers as employees …
Tweets: @kateconger and @nytimesbusiness
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