Techmeme
August 12, 2021, 7:15 AM

Top News

John D. McKinnon / Wall Street Journal:
Three US senators unveil the bipartisan Open App Markets Act, which would force app stores to allow sideloading and let developers use their own IAP systems  —  Legislation would place new limits on how Apple and Google app stores can operate  —  WASHINGTON—Senators introduced legislation Wednesday …
Gael Fashingbauer Cooper / CNET:
Twitter rolls out a web and app redesign, implementing its first proprietary font, Chirp, high-contrast black and white follow and unfollow buttons, and more  —  It's inevitable: Twitter changes Twitter, and Twitter users complain on Twitter.  But does Chirp make you feel like a woodpecker is pounding on your skull?
Tim Copeland / The Block:
Group behind Poly Network, a cross-chain protocol used for DeFi applications, says a hacker has stolen $611M; one researcher blames the attack on a crypto flaw  —  Quick Take  — Cross-chain protocol Poly Network has been hacked for $611 million.  — The team behind the protocol …
Wolfie Zhao / The Block:
Ben Schoon / 9to5Google:
Samsung announces Galaxy Z Flip3 with an internal 6.7" 120Hz display, a 1.9" external screen, 8GB RAM, and Snapdragon 888, starting at $999, shipping August 27  —  One of the first thoughts around foldable smartphones is a high price tag, but that tune is changing.
Dieter Bohn / The Verge:
Alex Heath / The Verge:
Interview with Facebook ad exec Graham Mudd on Facebook's plans to enhance privacy in its ads, regulation, Apple's ad tracking prompt, Google's FLoC, and more  —  A ‘very meaningful pivot’ is underway inside the world's largest social network  —  Facebook's massive business was built on its ability to track users across the internet.
Mike Isaac / New York Times:
Reddit raises $410M+ led by Fidelity Investments at a $10B+ valuation, up from $6B six months ago when it raised $250M  —  Reddit, the virtual town square of the consumer internet, has raised a fresh $410 million in funding, valuing it at more than $10 billion, the company said on Thursday.
Source: Upvoted
The Information:
Sources: DoorDash recently held talks to buy Instacart for between $40B and $50B, but the talks fell apart due to potential antitrust scrutiny  —  DoorDash held talks to buy Instacart over the past two months, say people familiar with the situation, for a price that likely would have been between $40 billion and $50 billion.
Nathan Grayson / Washington Post:
Thousands of marginalized streamers implore Twitch to counter “hate raids”, where groups of malicious users fill a streamer's chat with targeted abuse  —  During an Aug. 6 broadcast, the Twitch streamer RekItRaven — who is Black and uses they/them pronouns …
Ryan Browne / CNBC:
Zheping Huang / Bloomberg:
Baidu reports $4.8B in Q2 revenue, up 20% YoY and beating estimates, and $90M net loss after writing down shares in Kuaishou, which sank 28% across the quarter  —  - Search giant swung to a loss after marking down Kuaishou stake  — Shares of Baidu fell in pre-market trading in New York
Li Yuan / New York Times:
After Alibaba fired an employee accused of rape, over 6,000 workers sign a letter urging it to ban sexual remarks and games in ice-breaking and business events  —  Sexually suggestive office games, boozy dinners and a culture of ignoring problems have long plagued the industry.  Changing it will still be hard.
Radhamely De Leon / VICE:
Researchers create nine computer-generated faces that can serve as “master keys” to impersonate almost half of the faces in three top facial recognition systems  —  According to the paper, their findings imply that facial recognition systems are “extremely vulnerable.”

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Jon Fingas / Engadget:
Jon Porter / The Verge:
Bloomberg:
Steve Dent / Engadget: