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May 27, 2022, 8:50 PM
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Top News

Kate Conger / New York Times:
In an April 4 letter, the SEC told Elon Musk it is probing his March purchases and disclosures of Twitter stock, and whether he was truly a “passive” investor  —  The regulator questioned whether the Tesla chief executive had disclosed his stake at the right time.
Lora Kolodny / CNBC:
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition, saying Musk engaged “in conduct designed to create doubt about the deal”
Rest of World:
Some people in countries with high inflation say they lost thousands in savings after investing in UST, which seemed more stable than their local currency  —  “I have nothing left, not even a penny.”  —  Valeria makes around $300 a month selling prepared food from her home in Buenos Aires.
Josh Eidelson / Bloomberg:
The CWA withdraws its bid for a union election next week for staff at an Atlanta Apple store, citing Apple's “sophisticated campaign to intimidate” and COVID-19  —  The labor group trying to organize Apple Inc. employees at an Atlanta store is withdrawing its request for an election …
Kashmir Hill / New York Times:
A look at PimEyes, a paid facial recognition service that charges up to $300 per month to exclude photos, which some women describe as “essentially extortion”  —  PimEyes is a paid service that finds photos of a person from across the internet, including some the person may not want exposed.
Michelle Ma / Protocol:
Layoffs.fyi data: 60 tech companies cut 16,000+ jobs in May 2022; Microsoft, Nvidia, Lyft, Snap, Uber, Coinbase, Salesforce, Meta, and Twitter slowed hiring  —  What goes up must come down.  —  High-flying startups with record valuations, huge hiring goals and ambitious expansion plans …
Dan Primack / Axios:
Bolt Financial laid off 185 employees, or about one-third of its workforce; some have to repay loans they took from the company for vested shares within 90 days
Jez Corden / Windows Central:
Microsoft confirms it is building an HDMI device codenamed Keystone that can be connected to a TV or monitor to run Xbox Game Pass and its cloud gaming service  —  The key to the cloud.  —  For a few years, rumors have persisted that Microsoft was exploring building some form of streaming stick …
Budi Sutrisno / Tech in Asia:
Jakarta-based Bibit, which offers robo-advisor services to help millennial users invest in mutual funds based on their risk profiles, raises $80M+ led by GIC  —  Indonesia-based investment app Bibit has raised over US$80 million in a funding round led by GIC, with participation from Prosus Ventures and other existing investors.
More: FinSMEs

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This is a Techmeme archive page. It shows how the site appeared at 8:50 PM ET, May 27, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

From Mediagazer

Ted Johnson / Deadline:
ABC is airing direct appeals to its audience for The View and for stations it owns, asking viewers to comment on FCC actions challenging the show and stations

Max Tani / Semafor:
The Atlantic ramps up its video podcasts, doubling its video team from ~10 to ~20, and says its podcast revenue is up 104% YoY and downloads rose ~50% YoY

New York Times:
People Inc., a major food content creator, is ramping up social media video production that emphasizes human-made recipes and testing to stand out from AI slop

More News

Amy Lewin / Sifted:
Report: only 15% of European VC general partners are women, managing just 9% of total assets; 13% of general partners in the UK are women, managing 5% of assets

Earlier Picks

Yogita Khatri / The Block:
Tether enters Latin America by launching the MXNT stablecoin, pegged to the Mexican peso, initially available on the Ethereum, Tron, and Polygon blockchains
Sujith Somraaj / Decrypt:
Binance, FTX, Crypto.com, Huobi, Bitfinex, Kucoin, and other exchanges pledge support for Do Kwon's Terra 2.0, set to launch on May 27 by airdropping tokens
Chavi Mehta / Reuters:
Broadcom offers to acquire VMware for ~$61B in cash and stock, paying $142.50 per share, a nearly 49% premium, and will assume VMware's $8B in net debt
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