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Techmeme
December 31, 2022, 11:20 AM
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Top News

Wall Street Journal:
Sources: Sam Bankman-Fried will likely plead not guilty to fraud and other charges at a January 3 hearing; SBF returns to Twitter to deny he moved Alameda funds  —  FTX founder Sam Bankman-Fried is likely to plead not guilty to eight counts of fraud at a hearing next week, according to a person familiar with the matter.
Reuters:
The Bahamas' Securities Commission says it is holding FTX assets worth $3.5B temporarily and plans to deliver them to customers and creditors who own them  —  The Securities Commission of the Bahamas said on Thursday that it is holding FTX assets worth $3.5 billion based on market pricing …
New York Times:
Sources detail Elon Musk's Twitter cost-cutting measures, including closing a data center, reducing training for new staff, and canceling janitorial services  —  Elon Musk has reduced the company to a bare-bones operation, and employees are under a “zero-based budgeting” mandate to justify any spending.
Taylor Soper / GeekWire:
After not paying rent, Twitter is reportedly closing its Seattle office, its second-largest engineering hub outside of San Francisco, and asking staff to WFH
Matt Levine / Bloomberg:
Crypto created a toy financial system and had a toy financial crisis; in order to work in the long run, crypto must prove its real usefulness outside of finance  —  On Oct. 25, Bloomberg Businessweek published “The Crypto Story,” a cover-to-cover issue of the magazine that I wrote about what crypto is and what it all might mean.
Emily Birnbaum / Bloomberg:
Tim Wu, who helped shape Joe Biden's antitrust agenda, plans to leave his adviser role on January 4 and return to teaching antitrust law at Columbia Law School  —  Adviser Tim Wu, who helped to shape President Joe Biden's antitrust agenda, will leave his position Jan. 4, the White House said Friday.
Brian Merchant / The Atlantic:
Meta's dramatic implosion, Elon Musk's Twitter train wreck, and Amazon's labor uprising show that 2022 was not just a disastrous year, but a reckoning for tech  —  The companies that define our digital lives have hit a wall.  —  The dramatic, multidimensional implosion of Meta …
Washington Post:
Sources: Meta is still working on a wrist wearable device, wants to move its hardware manufacturing out of China, but is struggling to find necessary suppliers  —  The company needs China's factories as it pushes to become a hardware producer  —  SAN FRANCISCO — For more than a year …
Dan Strumpf / Wall Street Journal:
Huawei has exited “crisis mode” following US restrictions and expects ~$91.5B in 2022 revenue, unchanged from 2021, due to growing telecom infrastructure sales  —  Chairman says U.S. restrictions are new normal and company is back to business as usual

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This is a Techmeme archive page. It shows how the site appeared at 11:20 AM ET, December 31, 2022.

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From Mediagazer

Associated Press:
After a short-term hold, SCOTUS denies former Fox News reporter Catherine Herridge's bid to stay an $800-a-day fine if she refuses to reveal a source

Jessica Toonkel / Wall Street Journal:
A look at Comcast co-CEO Brian Roberts' earlier bundling strategy for connectivity and content, and his plan now to unbundle in order to keep growing

Matthew Keys / TheDesk.net:
FCC Commissioner Anna Gomez criticizes the agency's move to dismiss a petition by former FCC members and media advocates challenging the news distortion policy

More News

Wall Street Journal:
Predictions for 2023: competition for Meta's metaverse, Apple's AR/VR headset debut, generative AI integration into products, continuing crypto gloom, and more

Earlier Picks

Sam Schechner / Wall Street Journal:
Amazon, Apple, and Microsoft plan to connect data centers to heating systems in Europe; Meta began in 2020 in Denmark, and Google is assessing its opportunities
Sam Kessler / CoinDesk:
Sources: the FBI is probing the leak of ~100K API keys linked to users of crypto trading service 3Commas; a victim group of ~60 members tallies losses at $20M+
Chris Vallance / BBC:
After a hacker demanded $200K to delete data on 400M+ Twitter accounts, Ireland's DPC plans to investigate the “security issue”; Twitter hasn't issued a comment
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