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Techmeme
May 5, 2023, 3:30 PM
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Top News

Mengqi Sun / Wall Street Journal:
New York's AG proposes the Crypto Regulation, Protection, Transparency and Oversight Act, or CRPTO, seeking broader enforcement authority over crypto companies  —  Proposed legislation would require crypto exchanges to have independent public audits of financial statements, among other new requirements
Alex Konrad / Forbes:
A look at the ByteDance investors who have billions in paper profits blocked by the US regulatory standoff over TikTok; source: Sequoia China holds a 10%+ stake  —  The world's most valuable startup does more than any other investment to put VCs on the Forbes Midas List, including its No. 1.
Catherine Shu / TechCrunch:
Jakarta-based Praktis, which sells end-to-end supply chain software to direct-to-consumer brands and suppliers, raised a $20M Series A led by East Ventures  —  Small to medium-sized enterprises contribute 60% of Indonesia's gross domestic product.  But companies in the D2C space still struggle to compete against bigger brands.
Eric Berger / Ars Technica:
Airbus, Eutelsat, SES, Thales, and other European satellite companies plan to bid for the IRIS² satellite constellation, to rival SpaceX's Starlink in the EU  —  The bid includes large players such as Airbus Defence and Space, Eutelsat, and SES.  —  A consortium of nearly every major …
Joseph Menn / Washington Post:
A judge sentences former Uber CSO Joe Sullivan to three years of probation, after his October 2022 conviction for covering up a 2016 data breach from regulators  —  The first corporate executive convicted of a crime related to a data breach by outsiders is sentenced to probation and fined
Bloomberg:
Source: a leaked April 2023 internal document by Luke Sernau, a senior software engineer at Google, argues that open-source AI will outcompete Google and OpenAI  —  A senior software engineer at Google wrote a critique asserting that the internet search leader is losing its edge …
Kif Leswing / CNBC:
Apple Q2 revenue: iPhone up 2% YoY to $51.33B, Mac down 31% YoY to $7.17B, iPad down 13% YoY to $6.67B, and Wearables, Home, and Accessories down 1% to $8.76B  —  - Apple reported second-fiscal quarter earnings on Thursday that beat Wall Street's soft expectations for sales and revenue …
Apple:
Apple reports Q2 revenue down 3% YoY to $94.84B, declining for a second quarter in a row but beating estimates of $92.96B, and net income down 3% YoY to $24.16B

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This is a Techmeme archive page. It shows how the site appeared at 3:30 PM ET, May 5, 2023.

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From Mediagazer

Todd Spangler / Variety:
Trump names Danielle Thumann, an adviser to FCC Chairman Brendan Carr, to serve as an FCC commissioner; if confirmed, she'd bring the Republican majority to 3-1

Dade Hayes / Deadline:
Scripps' CEO says the company is adopting a streaming news model enabled by AI, including cutting 12% of staff, and praises the FCC's lift of the ownership cap

Ted Johnson / Deadline:
A federal judge has dismissed an antitrust challenge to Paramount's WBD acquisition brought by a group of consumers, but allows them to file a revised complaint

More News

Ina Fried / Axios:
Tim Cook says Apple sees AI as “huge” but that “it's very important to be “deliberative and thoughtful” as there are “a number of issues that need to be sorted”
Bill Peters / MarketWatch:
Coinbase reports Q1 revenue down 34% YoY to $772.5M, vs. $655M est., net loss down 82% YoY to $78.9M, $145B in trading volume, vs. $147.7B est.; COIN jumps 15%+

Earlier Picks

Richard Lawler / The Verge:
Google releases a brief teaser video showing off the Pixel Fold, confirming that it will be officially revealed on May 10 during the Google I/O 2023 event
Emma Roth / The Verge:
Discord plans to drop the four-digit tag after its usernames to make it “easier to connect” with others and force most users to pick a username with an @ prefix
Ilya Banares / Bloomberg:
Shopify reports Q1 revenue up 25% YoY to $1.5B, vs. $1.43B est., GMV up 15% YoY to $49.6B, vs. $47.7B est., and plans to cut ~20% of its staff; SHOP jumps 20%+
David McCabe / New York Times:
The White House announces plans to address AI's risks, including $140M for new research centers and draft guidelines for government agencies using AI safeguards
Tom Warren / The Verge:
Microsoft opens its Bing chatbot to all, removing the waitlist, and announces features like image and video results, persistent chat and history, and plug-ins
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