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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.

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

Financial Times:
OpenAI hopes the Disney deal boosts Sora, which has high costs and limited traction; Sensor Tower: users average 13 minutes per day on Sora vs. 90 on TikTok

Sara Guaglione / Digiday:
The Washington Post's new Your Personal Podcast, which offers AI-generated customizable podcasts, was developed under a multiyear agreement with ElevenLabs

Benjamin Mullin / New York Times:
Arkansas PBS severs ties with the PBS network, the first state public TV system to do so since Congress cut CPB funds, citing the annual $2M+ membership cost

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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