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August 2, 2022, 6:45 PM
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WeSmirchTop News
| Caitlin McCabe / Wall Street Journal: |
Robinhood plans to cut its headcount by ~23% over “additional deterioration of the macro environment”, after laying off ~9% of full-time employees in April 2022 — The job cuts mark the second round of layoffs for the online brokerage, which exploded in popularity during the Covid-19 pandemic
Source:
Under the Hood. More:
Engadget, PYMNTS.com, Silicon Valley Business …, Forbes, Protocol, The Information, Blockworks, TechCrunch, Fortune, Reuters, The Verge, and Fast Company
Tweets: @carnage4life, @bullandbaird, @rmac18, @seldo, @quinnypig, and @carlquintanilla
| Ashley Capoot / CNBC: |
Robinhood reports Q2 revenue down 44% YoY to $318M, vs $321M est., a $295M net loss, down from $502M YoY, and MAUs down 1.9M QoQ to 14M in June 2022 — - Robinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%.| Mengqi Sun / Wall Street Journal: |
New York's State Department of Financial Services fines Robinhood's crypto unit $30M for allegedly violating anti-money laundering and cybersecurity regulations — The New York State Department of Financial Services alleges that Robinhood violated anti-money-laundering and cybersecurity regulations
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The Block, The Verge, Gizmodo, The Register, InfoRiskToday.com, The Block, Decrypt, Crowdfund Insider, Finextra, PYMNTS.com, CoinGape, CoinDesk, Protocol, CNBC, CryptoPotato, Crypto Briefing, Bitcoinist.com, Cointelegraph, Four Eyes Finance, Finbold, Fast Company, CryptoSlate, and Tech News
Tweets: @seldo, @lex_node, and @wsjmarkets
| Adam Morgan McCarthy / The Block: |
MicroStrategy CEO Michael Saylor steps down and takes executive chairman role “to focus more on our bitcoin acquisition strategy”; president Phong Le named CEO — - Michael Saylor is set to step down from his role as CEO and become an executive chairman.
More:
CoinDesk, MicroStrategy, Bloomberg, Web3 is going just great, The Verge, CoinDesk, Blockworks, Decrypt, Cointelegraph, BTC Times, CNBC, Crypto Briefing, and CryptoPotato
Tweets: @saylor, @concodanomics, @cryptowhale, and @kenziesigalos
| Mitchell Clark / The Verge: |
Samsung launches its iFixit repair program, covering Galaxy S20, S21, and Tab S7+ devices; S22 flagships are not supported and the number of repairs are limited — But not its latest phones and tablets — Samsung and Fixit have launched their repair program that lets Galaxy S20, S21 …
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Samsung Newsroom, iFixit News, Gizmodo, TechCrunch, CNET, MobileSyrup, How-To Geek, Ubergizmo, ZDNet, XDA Developers, PCMag, Engadget, and 9to5Google
| Brian Newar / Cointelegraph: |
Hackers drain nearly the entire $190.7M in crypto from the Nomad token bridge, which raised an April 2022 seed from Coinbase, OpenSea, and five other companies — Hundreds of potential exploiters appear to have drained all of the bridge's $190 million in TVL in just a matter of hours. — 57 Total views
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TechCrunch, Web3 is going just great, TechCrunch, Input, Bloomberg, Reuters, Read and Share Twitter …, Engadget, CoinDesk, PYMNTS.com, CertiK Blockchain …, HealthcareInfoSecurity.com, CNBC, The Verge, Decrypt, ETH Daily, The Record, Inside Bitcoins, Mashable, CoinGape, FXStreet, Gizmodo, Coinspeaker, Tech Monitor, Chainalysis, The Coin Crunch, CryptoSlate, Crypto Briefing, and CoinDesk
Tweets: @nomadxyz_, @0xfoobar, @nomadxyz_, @nomadxyz_, @samczsun, @mg_486662, @fatmanterra, @xiliangchen, @el33th4xor, @paradigmeng420, @0xfoobar, @mudit__gupta, @moonbeamnetwork, @arjunbhuptani, @notifi_xyz, @nassyweazy, @moonbeamnetwork, @lorenzofb, @samczsun, @chainlinkgod, @moonbeamnetwork, @0xfoobar, @silvermanjacob, @andysayler, @bloombergtv, @0xmisaka, @dzack23, @mmasnick, @cl207, @quantstamp, @jonrog1, @nickadobos, @0xfoobar, @benedictevans, @benedictevans, @levicook, @bradwilson, @matthuang, @cointelegraph, and @fatmanterra
| Washington Post: |
Sources: Nancy Pelosi is set to meet with TSMC's chairman Mark Liu to discuss implementation of the Chips and Science Act during her visit to Taiwan — TSMC is building a chip factory in Arizona — and considering constructing several on the site — in a project seen as key to U.S. national security| Bloomberg: |
The Chips and Science Act bars companies that get US federal funding from adding production of advanced chips in China, impacting Intel, TSMC, and others — As the US Congress passed an historic $52 billion federal program to boost domestic chipmaking capabilities, it included one significant caveat …
More:
Nikkei Asia, Tom Merritt Tech Newsletter, TechSpot, Appuals.com, Tom's Hardware, and TechNode
Tweets: @chinabeigebook, @nikkeiasia, and @pstasiatech
| Sofia Pitt / CNBC: |
Uber reports Q2 revenue up 105% YoY to $8.1B, above $7.39B estimates, a $2.6B net loss, and mobility gross bookings up 55% YoY to $13.4B; stock closes up 18.9% — - Uber reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments …
More:
Bloomberg, Wall Street Journal, Bloomberg, Financial Times, PYMNTS.com, Fortune, New York Times, Washington Post, The Guardian, TechCrunch, Coinspeaker, Fast Company, The Verge, Reuters, and Finbold
Tweets: @thestalwart, @thestalwart, @cnbc, @ldignan, @dondekojo, @eliotwb, and @sub8u
| CNBC: |
AMD reports Q2 revenue up 70% YoY to $6.6B, vs $6.53B est., including Data Center segment sales up 83% YoY to $1.5B and Client segment sales up 25% YoY to $2.2B — - AMD reported earnings for the quarter ending in June that beat estimates. — The company gave a forecast for the current quarter …
Source:
Advanced Micro Devices, Inc.. More:
Reuters, Thurrott, VentureBeat, and Wccftech
Tweets: @manpreetkailon, @benbajarin, @marketrebels, @investorvideos, @cnbctech, and @patrickmoorhead
| Sofia Pitt / CNBC: |
Airbnb reports Q2 revenue up 58% YoY to $2.1B, vs $2.11B est., $379M net income, up from a loss of $68M YoY, and a $2B stock buyback program — - Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date.| Washington Post: |
Legal docs: in its Elon Musk lawsuit, Twitter subpoenaed info about Chamath Palihapitiya, David Sacks, Steve Jurvetson, Marc Andreessen, Jason Calacanis, others — Twitter has subpoenaed information about elite Silicon Valley investors Chamath Palihapitiya, David Sacks, and Steve Jurvetson
More:
Bloomberg, Tech Xplore, Insider, and Wccftech
Tweets: @jtlonsdale, @lizzadwoskin, @buccocapital, @faizsays, @lizzadwoskin, @eriz35, @davidsacks, @arainert, @pt, @eghosao, @damianpaletta, @taylorlorenz, @xeni, @triketora, @davidsacks, @jason_kint, and @quinnypig
| TechCrunch: |
LA-based MarqVision, which uses AI to monitor marketplaces for counterfeits, including of NFTs, raised a $20M Series A led by DST Global and Atinum Investment — As of 2020, the clothing sector lost about $27 billion in annual sales due to counterfeits, an illicit trade that results in huge losses to both brands and buyers.| Prarthana Prakash / Bloomberg: |
Match Group misses on Q2 revenue up 12% YoY to $795M, vs. $804M est., and paying users up 10% YoY to 16.4M, vs 16.5M est.; stock down 22% on stymied growth — Match Group Inc. gave a forecast for revenue in the current quarter that fell far short of analysts' estimates with growth stymied …
More:
TechCrunch, Match Group, and CNBC
| Emily Bary / MarketWatch: |
PayPal reports Q2 revenue up 9% YoY to $6.8B, vs $6.78B est., a $341M net loss; stock up 11% on news of a $15B share buyback and Elliott Management's $2B stake — Elliott has a roughly $2 billion investment in PayPal, cheering ‘unmatched and industry-leading footprint,’ as payments company beats earnings expectations
More:
Reuters, Protocol, Bloomberg, Paypal - Investor Relations, and CNBC
Tweets: @epro and @fienixtaranova
| Kyle Wiggers / TechCrunch: |
SEC filing: e-commerce marketing automation service Klaviyo raised $100M from Shopify; Klaviyo has raised ~$775M to date and was valued at $9.5B in May 2021 — Ecommerce marketing automation platform Klaviyo has received a $100 million strategic investment from Shopify … | Eliot Brown / Wall Street Journal: |
Sources: despite a November 2019 pledge to slow down, Masayoshi Son pushed SoftBank staff into investing $38B out of Vision Fund 2 across 180+ companies in 2021 — CEO Masayoshi Son pledged to curb his aggressive investment bets yet plunged into startups last year at the market top
Tweets: @eliotwb, @mattzeitlin, @alexfrangos, and @wsj
| Denny Jacob / Wall Street Journal: |
EA reports Q1 revenue up 14% YoY to $1.77B, vs. $1.26B est., and net income up 52% YoY to $311M, vs. $101.6M est., but gives Q2 guidance below projections — Videogame company quarterly results top expectations on strength of soccer, racing games — Electronic Arts Inc. EA -1.51%▼ …
More:
VentureBeat, GamesIndustry.biz, Bloomberg, and Electronic Arts
| Insider: |
As TikTok grows in the Middle East and North Africa, its regional content moderators complain of psychological distress and pay of around $2 to $3 per hour — - As TikTok gains in popularity in the Middle East and North Africa, it's ramping up its content moderation operation in the region.
More:
Newslit Daily. Tweets: @_rosiebradbury, @cori_crider, @rinachandran, @paleofuture, @zennie_fic, @benjanun_s, @niamh_mcintyre, @paul_framp, @marleyjaybiz, @eibroscheva, @frederickmelo, @ava_l_, @_rosiebradbury, @profdaveandress, @dmonett, @blackamazon, @foxglovelegal, @scottnover, @wolfiechristl, and @shonaghosh
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