Techmeme
August 5, 2021, 5:20 AM

Top News

Gilad Edelman / Wired:
Mozilla's analysis says Facebook's justifications for cutting off access to researchers running NYU's Ad Observatory project “simply do not hold water”  —  The company says privacy concerns forced it to block access for a team of academics.  Whose privacy, exactly?
Bloomberg:
Facebook says it has disabled the accounts, apps, Pages, and access to its APIs for researchers running NYU's Ad Observatory Project, citing TOS violations  —  - Company says researchers of political ads were scraping data  — NYU's Ad Observatory got cease-and-desist letter last October
Michael McSweeney / The Block:
Senators Lummis, Wyden, Toomey propose amendment to infrastructure bill excluding crypto developers, miners, node operators, others from the “broker” definition  —  A trio of U.S. senators is proposing a legislative exclusion for crypto companies, including miners and software developers …
Sarah Perez / TechCrunch:
TikTok says it is testing TikTok Stories; source says Stories are available in a handful of markets outside the US  —  Twitter may have shut down its Stories features known as Fleets, but the Stories format will continue to invade other social platforms.  TikTok today confirmed it's piloting …
Jessica Bursztynsky / CNBC:
Uber beats estimates with record gross bookings of $21.9B, up 114% YoY, adjusted EBITDA loss of $509M, an improvement from $837M YoY; stock down ~5%  —  - Uber beat on both the top and bottom lines in its second-quarter earnings report Wednesday.  — The company reported a net income of $1.1 billion for the quarter.
Edward Ongweso Jr / VICE:
Amnesty International: of the world's 53 largest VC firms, only one meets UN human rights due diligence standards  —  Out of the 53 companies and accelerators surveyed, only one “potentially” set up a policy to investigate and stop contributions to human rights abuse.  —  EO
Tom Warren / The Verge:
Microsoft pauses free trials of its new Windows 365 service, which lets users stream Windows 10 or 11 via web browser, after “significant demand”  —  Windows 365 lets you stream a cloud PC to a web browser  —  Microsoft launched its new cloud PC Windows 365 service earlier this week …
Maggie Fitzgerald / CNBC:
Robinhood shares surged as much as 80% on Wednesday, reaching $85, with trading halted several times, and closed the day at $70.39, up 50.41%  —  Cramer: Hedge funds think Robinhood is a house of cards  —  Robinhood shares soared again Wednesday, extending a wild rally in the newly public stock trading app's stock.
Dean Takahashi / VentureBeat:
EA beats estimates with Q1 total net revenue of $1.55B, up from $1.46B YoY, net income of $204M, down from $365M YoY, and net bookings of $1.34B, down 3% YoY  —  Watch now.  —  Electronic Arts reported better-than-expected earnings today for the first fiscal quarter ended June 30 …
Zheping Huang / Bloomberg:
Kuaishou drops by over 15% in Hong Kong as its post-IPO lockup expired, highlighting widening fears about China's crackdown  —  Kuaishou Technology fell the most on record after a post-listing lockup on sales of its shares expired, underscoring the extent of investors' fears about a widening Chinese online crackdown.
Alex Konrad / Forbes:
Email service Superhuman, which charges $30/month and hasn't formally launched, raises $75M Series C led by IVP, source says at a $825M valuation  —  Covering venture capital, software and startups  —  When Superhuman CEO Rahul Vohra agreed to meet with former Dropbox CFO Ajay Vashee's …
FinSMEs:
Philadelphia-based ZeroEyes, which uses AI to detect guns, raises $20.9M Series A led by Octave Ventures  —  ZeroEyes, a Philadelphia PA-based provider of an AI powered weapons detection solution, raised $20.9M in Series A funding.  —  The round, which brought the total amount raised to date to $26.1m …
Mary Ann Azevedo / TechCrunch:
Denver-based Reserve Trust, which enables domestic and international B2B payments, raises $30.5M Series A led by QED Investors  —  Reserve Trust, a Denver-based financial services provider, has raised $30.5 million in a Series A round led by QED Investors.  —  FinTech Collective …

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Earlier Picks

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Takashi Mochizuki / Bloomberg: