Techmeme
July 27, 2017, 11:45 AM

Top News

Wall Street Journal:
Samsung posts record net profit of $9.9B in Q2, up 89% YoY boosted by strong chip and Galaxy S8 sales, revenue rose to $54.8B, up 19.8%  —  Results position the company to top Apple in quarterly profits  —  SEOUL—Samsung Electronics Co. delivered its biggest-ever quarter of profits …
Micah Singleton / The Verge:
Google plans to merge Google Play Music with YouTube Red to create a new streaming service, YouTube's head of music Lyor Cohen confirmed  —  One service to cover everything (almost)  —  YouTube's head of music confirmed that the company is planning on merging its Google Play Music service …
Michael Sheetz / CNBC:
Twitter's Q2 revenue of $574M beats expectations, but monthly active users remain flat at 328M; advertising revenue decreased 8% YoY to $489M, shares fall 8%+  —  - Twitter posted better-than-expected earnings and revenue growth in its second-quarter earnings report.
Bloomberg:
Jeff Bezos surpasses Bill Gates as world's richest person, with a net worth of ~$90.9B, as Amazon shares surged in trading; Gates held the top spot since 2013  —  His net worth climbs more than $1 billion in intraday trading  —  Gates has held top spot on Bloomberg wealth index since 2013
U.S. Department of Justice:
US Justice Department charges Russia's Alexander Vinnik on suspicion of laundering $4B+ funds via bitcoin, alleges funds obtained via Mt.Gox hack  —  Defendant Alexander Vinnik Was Arrested in Greece to Face Charges in the United States; Bitcoin Exchange Alleged to Have Received Deposits Valued at Over $4 Billion
CNBC:
Sources: Amazon's 1492, a skunkworks lab, is working on healthcare tech including a platform for medical records, telemedicine, and apps for devices like Echo  —  - Areas of exploration include a platform for electronic medical record data, telemedicine and health apps for existing devices like the Amazon Echo.
Ina Fried / Axios:
Tech leaders including Tim Cook, Jack Dorsey, Mark Zuckerberg, Sam Altman, Sundar Pichai, and Marc Benioff speak out against Trump's transgender troop ban  —  Salesforce and the CEO of Google are among the first tech leaders to publicly speak out after President Trump's announcement Wednesday …
Eliot Brown / Wall Street Journal:
Dow Jones: 30 US VC funds raised $500M+ each last year, up from 17 in 2015, and the most since 54 in 2000  —  Canaan Partners' $800 million fund is the latest jumbo-size capital pool  —  Giant venture-capital funds are piling up in Silicon Valley, a sign that foundations …

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Earlier Picks

Tom Krazit / GeekWire:
Sarah Buhr / TechCrunch:
Eric Newcomer / Bloomberg: