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December 31, 2022, 11:30 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 and wants to move its hardware manufacturing out of China but is struggling to find key 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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About This Page

This is a Techmeme archive page. It shows how the site appeared at 11:30 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

Alexandra Bruell / Wall Street Journal:
Politico names Jonathan Greenberger as its editor-in-chief, effective May 1, succeeding co-founder John Harris; Greenberger joined Politico as EVP in 2024

Brent Lang / Variety:
Project Hail Mary becomes Amazon MGM's highest-grossing film ever, grossing $300.8M globally, including $54.1M from 86 markets just this weekend

Corbin Bolies / The Wrap:
The NBC News-Joanna Stern deal offers a new model for independent journalists to grow audiences via institutional support while retaining editorial independence

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
Mastodon: @[email protected].  Tweets: @cathyhackl, @joannastern, @mims, and @wsj

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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