Techmeme
July 7, 2021, 1:35 PM

Top News

Bloomberg:
China's crackdown on its tech giants wiped a combined $823B off their market value since a Feb. peak, with Tencent, Alibaba, and Kuaishou as the biggest losers  —  - Selling in technology sector seen continuing this quarter  — Hang Seng Tech Index has lost 31% from February high
Bloomberg:
Sources: China plans rule changes requiring Chinese companies to seek approval to list overseas, even if the unit selling shares is incorporated outside China  —  - Securities regulator working to change overseas listing rules  — Change would require VIE firms to get nod to list offshore
Tom McKay / Gizmodo:
In an attempt to keep ahead of China's regulations, Tencent says it'll use a facial recognition system to prevent minors from playing games late into the night  —  Shenzhen, China-based gaming giant Tencent has announced it will use a face recognition system to prevent minors in its home country …
Kevin Breuninger / CNBC:
Donald Trump sues Facebook, Twitter, and Google, as well as their CEOs, alleging the companies have violated his First Amendment rights  —  - Former President Donald Trump announced he is suing Facebook, Twitter and Google, as well as their respective CEOs Mark Zuckerberg, Jack Dorsey and Sundar Pichai.
Manish Singh / TechCrunch:
Report: Indian startups raised a record $10.46B in H1 2021, vs. $4B in H1 2020 and $11.6B in all of 2020; India produced 16 unicorns this year  —  Indian startups have raised a record $10.46 billion in the first half of 2021, up from $4 billion in H1 2020.  —  A startup founder …
Alex Heath / The Verge:
Facebook-commissioned study by Comscore claims that most US iOS and Android users stick with preinstalled apps; Apple says the study is “seriously flawed”  —  If you use an iPhone or Android phone, chances are the majority of your most-used apps were made by Apple and Google.
Michael P. Regan / Bloomberg:
A look at synthetic shares of Apple, Amazon, and others, which track the prices of real stocks and are being traded on blockchain projects like Mirror Protocol  —  - A DeFi ‘Trojan Horse’ finds its way to the stock market  — Sounds like ‘investor-protection issue,’ says Themis's Saluzzi
Jason Schreier / Bloomberg:
Ubisoft confirms it's developing Assassin's Creed Infinity, an online service with evolving gameplay that expands over time, seeking to emulate Fortnite and GTA  —  Assassin's Creed, a video game franchise set in huge worlds where each one can take hundreds of hours to complete, is getting even bigger.
Natasha Lomas / TechCrunch:
Mozilla's crowdsourced study about YouTube over a 10-month period finds 71%+ videos flagged as objectionable by participants were recommended by YouTube itself  —  For years YouTube's video-recommending algorithm has stood accused of fuelling a grab-bag of societal ills by feeding users …
Ryan Browne / CNBC:
Wise begins trading in London direct listing, valuing the money transfer firm at $11B, and launches OwnWise, a program to let users own a stake in the company  —  - Wise shares opened at £8 a share Wednesday morning, giving the company a market value of £8 billion ($11 billion).
Alfred Ng / The Markup:
Public records and a 2019 version of its user guide show just how invasive AnyVision's facial recognition software can be; AnyVision's customers include schools  —  One school using the software saw that a student's face was captured more than 1,000 times during the week
Rebecca Chowdhury / MIT Technology Review:
Hands-on with New York's Excelsior Pass vaccine passport: low adoption, privacy concerns, persistent technical glitches, and limited use at top leisure venues  —  When we tested New York's Excelsior Pass, we found privacy concerns, technical glitches, and questions over who it's really for.
Romain Dillet / TechCrunch:
Outbrain, which filed for an IPO last week, raises $200M from Boston-based hedge fund Baupost Group  —  Outbrain, an adtech company that provides clickbait ads below news articles, has raised $200 million in funding — Outbrain didn't disclose the valuation of the company for this deal.
Bloomberg:
Sources: state-backed Russian hacking group APT29 breached the RNC last week, possibly via IT provider Synnex; RNC says there's is no indication it was hacked  —  - Hackers part of ‘Cozy Bear,’ people familiar with matter say  — RNC official says ‘no indication’ computer systems hacked
Alex Wilhelm / TechCrunch:
r2c, which is developing SaaS tools based on the Semgrep open source project, raises $27M Series B led by Felicis  —  This morning r2c, a startup building a SaaS service around the Semgrep open-source project, announced that it has closed a $27 million Series B. Felicis led the round, which the company said was a pre-emptive deal.

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Earlier Picks

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