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February 24, 2024, 11:30 PM
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memeorandum
WeSmirchTop News
| 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
| 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
| 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) …
More: Bloomberg
| 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.| New York Times: |
How some news accounts on Instagram, including Mo News and Jessica Yellin, are gaining popularity even as the platform tries de-emphasizing political content — In this year's presidential election, more people are turning to Instagram for news, even as the platform tries de-emphasizing “political content.”
X: @crbustamante, @katie_robertson, @nbj914, @pressgazette, @baekdal, @anndesbiondi, @davidsirota, @sapna, @michaelluongo, @gpa_as, and @mediaevan. LinkedIn: Lewis Wiltshire
| Lauren Feiner / The Verge: |
The US FTC claims in an administrative complaint that H&R Block steered customers to higher-cost online tax filing products and made them difficult to downgrade — The Federal Trade Commission is taking action against tax prep company H&R Block for allegedly wasting consumers' time and money.Sponsor Posts
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Creating prediction markets (and suing the CFTC) with Tarek Mansour and Luana Lopes Lara
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| Chris Welch / The Verge: |
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