Techmeme
May 20, 2021, 8:05 AM

Top News

Echo Wang / Reuters:
Zhang Yiming, co-founder of ByteDance, says he is stepping down as CEO and will be succeeded by another co-founder Rubo Liang, current head of human resources  —  (Reuters) -Zhang Yiming, co-founder of TikTok owner ByteDance, told employees of the Chinese technology giant in a memo …
Tom Warren / The Verge:
Microsoft says it is finally retiring Internet Explorer on June 15, 2022, after more than 25 years, in favor of Edge  —  Internet Explorer will no longer be supported in June 2022  —  Microsoft is finally retiring Internet Explorer next year, after more than 25 years.
Juli Clover / MacRumors:
Apple announces accessibility features, including background sounds to help maintain focus and calm, AssistiveTouch for Apple Watch, and iPad eye-tracking  —  Apple today announced the upcoming launch of several new accessibility features that are being added to its various products and services.
Ian Sherr / CNET:
During the Epic trial, Craig Federighi says malware on macOS has reached an “unacceptable” level and the problem is “significantly larger” than iOS  —  Apple's head of software engineering, Craig Federighi, said malware on Macs have hit “unacceptable” levels.
Mark Gurman / Bloomberg:
An App Store exec testified that Apple made $100M+ from Fortnite commissions between 2018 and its removal in 2020; Sensor Tower says Apple made closer to $354M  —  Apple Inc. generated more than $100 million in revenue from commissions collected from offering Fortnite on the App Store …
Rumman Chowdhury / Twitter:
Twitter shares the results from an investigation into bias within the image cropping algorithm it used to employ, finding it favored white people and women  —  In October 2020, we heard feedback from people on Twitter that our image cropping algorithm didn't serve all people equitably.
Rebecca Klar / The Hill:
FTC and six state AGs sue internet service provider Frontier for allegedly providing slower internet speeds than promised to 1.3M DSL customers across 25 states  —  Frontier Communications is accused of misrepresenting internet speeds it advertised and charged for, according to a lawsuit filed Wednesday …
Joan E. Solsman / CNET:
WarnerMedia says HBO Max's cheaper, ad-supported tier will cost $10 per month and launch in the first week of June  —  HBO Max's cheaper, ad-supported tier will cost $10 a month and launch in the first week of June, WarnerMedia said Wednesday.  It'll come the week after — possibly just days after …
David Cohen / Adweek:
Facebook launches a new Transparency Center, a site for info on its policies to tackle hate speech, says it now removes 97% of hate speech before it's reported  —  Facebook introduced its new Transparency Center Wednesday, billing it as a single destination for information on its integrity and transparency efforts.
CNBC:
Bitcoin fell 30% to just over $30K on Wednesday, recovering partially to $38K; Ether, Dogecoin, and others also plunged  —  Galaxy Digital's Novogratz on bitcoin's plunge: These are setbacks for investor base  —  Bitcoin plunged to near $30,000 at one point on Wednesday morning …
Keach Hagey / Wall Street Journal:
Right-wing video platform Rumble says it has raised an undisclosed amount from Peter Thiel, J.D. Vance, and others; sources say Rumble is valued at ~$500M  —  Backing from conservative venture capitalists comes amid push for alternative social-media channels with looser rules on speech
Bloomberg:
Squarespace stock closed down ~9% at $43.65, after opening at $48 per share, valuing the company at ~$5.9B, well below its $10B valuation in March  —  - Firm is first major direct listing to close below guide price  — Listing comes on third day of losses on U.S. exchanges
Jeff Stone / CyberScoop:
Federal judge sentences a Russian citizen, extradited to the US in March 2019, to five years in prison for stealing $1.5M in targeted hacks of US tax preparers  —  A U.S. federal judge on Wednesday sentenced a Russian man to five years in prison for his role in a scheme to use malicious software …
Stephanie Condon / ZDNet:
Cisco reports Q3 revenue of $12.8B, up 7% YoY, with Security revenue up 13% YoY to $876M and Infrastructure Platforms revenue up 6% YoY to $6.8B; stock down 5%+  —  The company's third quarter results were slightly ahead of market estimates, with growth across categories.
Olivia Little / Media Matters for America:
TikTok's recommendation algorithm appears to be promoting anti-LGBTQ videos, some of which encourage targeted anti-trans violence  —  TikTok's recommendation algorithm appears to be circulating blatantly anti-LGBTQ videos, some of which encourage targeted violence.
Bloomberg:
Cloud-based construction software company Procore prices its NYSE IPO at $67 per share, above its target range, raising $634.5M and giving it a $8.5B valuation  —  Procore Technologies Inc., a cloud-based construction software company, priced its shares in an initial public offering above a marketed range to raise $634.5 million.
Michael Simon / Macworld:
Android 12 offers new privacy protections including a Privacy Dashboard, mic and camera access toggles in Quick Settings, but stops short of Apple's ATT  —  On Tuesday, Google unveiled the highlights of Android 12, which will land on the Pixel and other Android phones this fall.

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