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February 25, 2024, 3:35 AM
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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: Wired, Observer, and Inland Valley Daily Bulletin
Threads: @trevorcroker, @aeromunch, @barbarosozturk, and @mike_isaac
Mastodon: @stefan@stefanbohacek.online and @dangillmor@mastodon.social
X: @jonahlupton, @eshear, @eshear, @eshear, @therealdavey2, @sdw, @eshear, @levie, and @carnage4life. 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: Ars Technica, Inc.com, TechCrunch, Tubefilter, Social Media Today, Business Insider, Fast Company, and CoinGape
| 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.| RT Watson / The Block: |
Research: the all-time, total amount invested in crypto and blockchain-related companies crosses $90B, with ~$1.3B invested across 230+ deals so far in 2024 — - The total, all-time dollar amount invested into crypto and blockchain-related companies exceeded $90 billion this month …
Forums: r/CryptoCurrency and r/ethtrader
| 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: CNBC and Wall Street Journal
Threads: @kazweida, @alexrkonrad, and @lorakolodny
X: @davidjeans2, @phelimkine, and @alexrkonrad
Forums: Hacker News and r/EnoughMuskSpam
| 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) … | 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 and Benzinga
| 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.| Lauren Feiner / The Verge: |
A preview of the NetChoice cases to be argued at SCOTUS on February 26, about the constitutionality of Texas and Florida laws regulating social media content — The ruling could impact other publishing industries and future social media regulation. … Social media companies have long …
More: Tech Policy Press, TechSpot, and SCOTUSblog
| 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: The SaaS News, Robots.net, FinSMEs, and BNN
X: @josh_coyne, @kimmaicutler, @ycombinator, and @abarrallen
LinkedIn: Samuel K. Lam and Mary Ann Azevedo
| 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| 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, Cointelegraph, Wall Street Journal, Bitcoin Insider, and CoinGape
X: @aosipovich, @jdan, @kateclarktweets, and @ivanlevingston
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