Techmeme
July 30, 2020, 4:30 AM

Top News

Tony Romm / Washington Post:
CEOs of Amazon, Apple, Facebook, and Google grilled over their companies' market power at the nearly six-hour congressional subcommittee hearing  —  The leaders behind the tech giants testified before Congress virtually  —  The leaders of Amazon, Apple, Facebook and Google took …
YouTube:
Video of the House Antitrust Subcommittee hearing on online platforms and market power with the CEOs of Amazon, Facebook, Google, and Apple  —  TW: @HouseJudiciary |  FB: HouseJudDems |  IG: HouseJudDems |  M: /HouseJudiciary Subcommittee on Antitrust, Commercial, and Administrative Law |
The Verge:
Emails from Mark Zuckerberg, revealed by the House antitrust panel, show that Facebook wanted to buy Instagram at least partly to explicitly avoid competition  —  In late February 2012, Facebook CEO Mark Zuckerberg emailed his chief financial officer, David Ebersman, to float the idea …
Mark Gurman / Bloomberg:
Emails between Eddy Cue and other Apple execs from 2011, revealed in House hearing, show Apple considered 40% cut of first year digital content subscriptions  —  - IPhone maker's Eddy Cue reached 2016 deal with Amazon's Bezos  — In 2011, Apple executives weighed 40% fee for subscriptions
Richard Nieva / CNET:
Sundar Pichai received bipartisan criticism during Wednesday's antitrust hearing, facing questions about Google's digital ads business, privacy practices, more  —  The leaders of four of the world's most powerful tech companies — Apple , Amazon , Facebook and Google …
Makena Kelly / The Verge:
Asked if Amazon ever accessed and used seller data to make business decisions, Bezos said he can't guarantee the ban on the practice has never been violated  —  The company is investigating possible breaches  —  During Wednesday's antitrust hearing, Amazon and its CEO Jeff Bezos came under fire …
Juli Clover / MacRumors:
Casey Newton / The Interface:
Peter Kafka / Vox:
Ian King / Bloomberg:
Qualcomm reports Q3 non-GAAP revenue of $4.9B, flat YoY, forecasts Q4 revenue of $5.5B to $6.3B, vs $5.8B est., announces Huawei license deal; stock jumps 12%+  —  - Deal with Chinese telecom company ends long-running dispute  — CEO says rebound from Covid-19 slump faster than expected
Sara Fischer / Axios:
TikTok's new CEO Kevin Mayer says it'll release code driving its content moderation algorithms, accuses Facebook of maligning attacks “disguised as patriotism”  —  In his first public statement as CEO of TikTok, f ormer Disney exec Kevin Mayer says the company will be releasing …
New York Times:
Report: China-linked hackers infiltrated the Vatican's computer networks in the past three months, ahead of the Vatican's diplomatic negotiations with Beijing  —  In one attack, the hackers weaponized an electronic file with a letter that had a note of condolence from Cardinal Pietro Parolin, the Vatican's secretary of state.
Natalie Gagliordi / ZDNet:
PayPal reports adding a record 21.3M net new active accounts in Q2, bringing total active accounts to 346M, and revenue of $5.26B, up 25% YoY, vs $4.99B est.  —  PayPal said it saw the largest quarterly increase in active accounts in the company's history during Q2.
Tiffany Hsu / New York Times:
Research firm Forrester: US ad spending will decline by 25% this year and won't recover until 2023, and in 2020 and 2021, ad agencies will shed 52,000 jobs  —  The marketing business is going through a period of innovation as it sheds workers and tries to hold on to clients.
Reuters:
US Treasury Secretary Steve Mnuchin says TikTok is being reviewed by CFIUS, which will make a recommendation to Trump  —  WASHINGTON (Reuters) - U.S. Treasury Secretary Steve Mnuchin said on Wednesday that TikTok was under a national security review and that his agency would make a recommendation …

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