Techmeme
July 29, 2021, 1:50 PM

Top News

Reuters:
Robinhood raises $2.1B in its IPO after selling 55M shares at the low end of its $38 to $42 range, giving it a valuation of $31.8B  —  Robinhood Markets Inc, the owner of the trading app which emerged as the go-to destination for retail investors speculating on this year's “meme' stock trading frenzy …
Maggie Fitzgerald / CNBC:
Robinhood starts trading at $38, the low end of its range, before falling 10%+ to below $34  —  - Robinhood's opening price was $38 per share, valuing the stock trading app at roughly $32 billion.  — Trading for the first time under ticker HOOD, the online brokerage hit the public markets …
Ryne Hager / Android Police:
Google updates Play Store policies to ban apps offering “compensated sexual relationships”, likely impacting sugar daddy dating apps, beginning September 1  —  Today, Google published a handful of changes to its Play policies, and nestled among precise legalese refinements …
Karen Hao / MIT Technology Review:
Profile of Sophie Zhang, a former Facebook data scientist who wrote an exit memo detailing Facebook's inadequate steps to address global election misinformation  —  Sophie Zhang, a former data scientist at Facebook, revealed that it enables global political manipulation and has done little to stop it.
Jing Yang / Wall Street Journal:
Sources: Didi is considering going private in order to placate Chinese authorities and compensate investors for losses using money made during its IPO  —  Ride-hailing giant has been contemplating delisting plan as crackdown widens and has obtained support from cybersecurity watchdog
Facebook:
Facebook reports Q2 revenue of $29.08B, up 56% YoY, MAUs of 2.9B, up 7% YoY, headcount of 63,404, up 21% YoY; stock down ~3% on warning of revenue slowdown  —  “We had a strong quarter as we continue to help businesses grow and people stay connected,” said Mark Zuckerberg, Facebook founder and CEO.
Karissa Bell / Engadget:
Tiernan Ray / ZDNet:
OpenAI introduces Triton 1.0, an open-source programming language for writing GPU code for neural networks, and claims it is easier to write than Nvidia's CUDA  —  SEO: Python-like language promises to be easier to write than native CUDA and specialized GPU code but has performance comparable …
Source: GitHub and OpenAIMore: InfoWorld
Mary Ann Azevedo / TechCrunch:
Wall Street Journal:
Eric Newcomer / Newcomer:
Profile of Bessemer Venture Partners, an early investor in Twilio and Shopify, as its competition with Andreessen Horowitz, Tiger Global, and SoftBank ramps up  —  Bessemer Venture Partners is a thoughtful firm in a world of loose money.  —  4 hr ago  —  In 2009, Ethan Kurzweil …
Makena Kelly / The Verge:
Senate reaches a deal on an infrastructure plan including $65B for broadband investments, $35B less than Biden's original plan; final vote still yet to happen  —  That's less than the original $100 billion plan  —  On Wednesday, bipartisan Senate negotiators reached a deal on an infrastructure package after weeks of tense discussion.
Nikhilesh De / CoinDesk:
Steven Musil / CNET:
Samsung Q2: profit of $10.8B, up 54% YoY, on $55.2B revenue; its chips business accounted for nearly half the profit; mobile division revenue declined QoQ  —  Samsung's operating profit showed strong growth in the second quarter, thanks to higher-than-expected chip prices and continued consumer demand …
Jon Porter / The Verge:
Huawei announces P50 and P50 Pro, its first flagship phones with HarmonyOS, in China; Huawei executive says the phones lack 5G support due to US sanctions  —  Google's apps and services continue to be absent  —  Huawei has announced its latest flagship phones for the Chinese market, the P50 and P50 Pro.
Mary Ann Azevedo / TechCrunch:
La Haus, an online real estate marketplace operating in Mexico and Colombia, raises a $100M extension to its $35M Series B, bringing its total raised to $158M  —  La Haus, which has developed an online real estate marketplace operating in Mexico and Colombia, has secured $100 million in additional funding …
Tweets: @bayareawriter
Jordan Fabian / Bloomberg:
More than 90 CEOs, including Cook, Pichai, Jassy, and Zuckerberg, urge Congress to ensure citizenship for Dreamers, after a judge ruled against the program  —  - More than 90 executives seek legal status for Dreamers  — They say allowing citizenship would give U.S. economic boost

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Patrick Howell O'Neill / MIT Technology Review:
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