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February 24, 2024, 11:50 PM
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| Elizabeth Lopatto / The Verge: |
Many redditors say they are not enthusiastic about Reddit's IPO and expect CEO Steve Huffman to run the site into the ground while trying to make it profitable — There's the mention of r/WallStreetBets. (Five mentions in total, actually.) There's the stockpile it's amassed of Bitcoin and Ethereum.
More: Fast Company, Observer, Mercury News, Silicon Republic, and City A.M.
Threads: @trevorcroker, @barbarosozturk, @aeromunch, and @mike_isaac
Mastodon: @dangillmor@mastodon.social and @stefan@stefanbohacek.online
X: @sdw, @levie, @jonahlupton, @eshear, @eshear, @carnage4life, @eshear, @therealdavey2, and @eshear. Forums: r/technology
| Dave Lee / Bloomberg: |
Reddit's S-1 shows how dependent the site is on the unpaid labor of 60K active daily moderators and the whims of its users and subreddits like r/WallStreetBets — The company's IPO prospectus makes clear how dependent it is on unpaid labor and the whims of its community.
More: Digital Information World, Ars Technica, Gizmodo, Wired, Inc.com, TechCrunch, Tubefilter, Business Insider, Proactive, and Mashable
| Paresh Dave / Wired: |
In Reddit's S-1, Steve Huffman offers a look at the site's beginnings without naming co-founder Alexis Ohanian, reflecting their schism during the BLM protests — Only one of Reddit's two cofounders is named in a new filing that puts the company weeks away from going public.| Reuters: |
Japan plans to give up to $4.86B more in subsidies to help TSMC build a second chip fabrication plant in Kumamoto — Chipmaker TSMC (2330.TW) formally opens its first Japanese plant on Saturday, highlighting the Taiwanese firm's critical role in Tokyo's multi-billion dollar efforts to reboot …
More: Nikkei Asia, Benzinga, TechPowerUp, DigiTimes, and Sam Lover
| Milana Vinn / Reuters: |
Sources: Broadcom is nearing a $3.8B deal to sell its end-user computing unit to private equity firm KKR — Chipmaker Broadcom (AVGO.O) is nearing a $3.8 billion deal to sell its business that allows users to access desktops and applications from any device to private equity firm KKR (KKR.N) … | David Jeans / Forbes: |
In a letter to Elon Musk, Rep. Mike Gallagher says SpaceX may be in breach of DOD contracts after sources say Starshield is inactive around Taiwan for US troops — Rep. Mike Gallagher, who led a delegation to Taiwan this week, said in a letter to Musk that SpaceX could possibly be in breach of its …
More: Wall Street Journal. Threads: @lorakolodny and @alexrkonrad
X: @alexrkonrad and @phelimkine
Forums: Hacker News and r/EnoughMuskSpam
| Dietrich Knauth / Reuters: |
FTX agrees to sell FTX Europe back to its founders for $32.7M, drops a lawsuit seeking back $323M it had spent to acquire the startup originally called DA AG — Bankrupt crypto exchange FTX has settled a lawsuit that sought to claw back $323 million that it had spent acquiring a European startup …
More: Cryptopolitan, Wall Street Journal, Cointelegraph, CoinJournal, and CoinGape
X: @jdan, @kateclarktweets, @ivanlevingston, and @aosipovich
| Financial Times: |
How tensions between past and present leaders of Sequoia, which had a reputation for quiet competence, have spilled into the open with the Klarna boardroom spat — Tension between past and present leaders of Silicon Valley's premier venture group have spilled into the open| Mary Ann Azevedo / TechCrunch: |
PermitFlow, which develops end-to-end workflow and automation software for construction permitting, raised a $31M Series A led by Kleiner Perkins — Kleiner Perkins led the Series A, which came just over a year after seed round — Anyone who has ever tried to build or renovate a house knows …
More: Robots.net, BNN, The SaaS News, and FinSMEs
X: @josh_coyne, @kimmaicutler, @abarrallen, and @ycombinator
LinkedIn: Samuel K. Lam and Mary Ann Azevedo
| Jordan Novet / CNBC: |
Filing: Google said Microsoft offered to sell Bing to Apple in 2018, but Eddy Cue said Microsoft had search quality issues and was investing less than Google — - In 2018, Microsoft offered to sell Apple its Bing search engine or start a Bing joint venture, Google said in a newly unsealed filing.| Filipe Espósito / 9to5Mac: |
X starts rolling out audio and video calling to all users, after previously limiting the feature to Premium subscribers; users can disable calling in settings — The social platform X introduced a new feature last year that lets users make and receive audio and video calls, just like apps such as FaceTime and WhatsApp.
More: Engadget, Android Headlines, TweakTown, PhoneArena, The Hill, Digital Information World, iThinkDifferent, and Social Media Today
Threads: @joanwestenberg. Bluesky: @nowhere.bsky.social. X: @enriquebrgn, @lindayax, @quinnypig, @bobdaduck, @thezedwards, @psythor, @katebevan, @nate_esparza, @kettlebelldan, and @alexselbyb
| Bloomberg: |
Sources: Jeff Bezos is investing $100M, Microsoft is investing $95M, and Nvidia $50M in humanoid robot startup Figure's ~$675M funding round at a ~$2B valuation — - Figure AI also gets investments from Intel, Samsung and Amazon — Company, valued at roughly $2 billion, is raising $675 millionSponsor Posts
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