Techmeme
February 7, 2022, 7:20 PM

Top News

New York Times:
Meta announces that Peter Thiel, one of Facebook's first institutional investors and longest-serving directors, will step down from Meta's board this year  —  The tech billionaire, who has been on the board of the company formerly known as Facebook since 2005, is backing numerous politicians in the midterm elections.
Alan Rappeport / New York Times:
The IRS says it will transition away from using facial recognition for identity verification, after a bipartisan backlash regarding its use of ID.me services  —  The tax collection agency will transition away from using a service from the authentication service ID.me amid bipartisan backlash.
Michiel Willems / City A.M.:
In its annual SEC report, Meta repeats its warning that it may be forced to shut down “significant” services in Europe if the EU adopts new data transfer rules  —  If Meta is not given the option to transfer, store and process data from its European users on US-based servers …
Todd Bishop / GeekWire:
Amazon raises its maximum base pay for corporate and tech employees from $160K to $350K, in line with other tech giants, citing a “competitive labor market”  —  Amazon will boost its maximum base pay to $350,000 for corporate and tech employees, from $160,000 previously …
Sam Reynolds / CoinDesk:
The Ethereum Name Service DAO, which manages .eth domains, votes to remove Brantly Millegan as a steward over a 2016 tweet; Millegan has refused to apologize  —  A Tweet from Nick Johnson, founder and lead developer of ENS, confirmed Millegan has been removed from both the DAO and as director of operations of True Names Ltd.
Alex Konrad / Forbes:
A profile of freight logistics startup Flexport, which is raising a $935M+ Series E co-led by a16z and MSD Partners at an $8B valuation  —  Founder Ryan Petersen has positioned himself as shipping's savior, earning Flexport a new $8 billion valuation.  But industry rivals …
Manish Singh / TechCrunch:
Ethereum scaling project Polygon raises $450M, its first major financing round, led by Sequoia Capital India; Polygon has a ~$13B market cap  —  Ethereum scaling firm Polygon has raised $450 million in a new venture financing round as the firm, with a market cap of about $13 billion …
Karl Freund / Forbes:
Intel announces efforts to accelerate RISC-V development and adoption, including licensing plans, chip manufacturing partners, and a $1B IFS Innovation Fund  —  This announcement will have a long-lasting impact on the entire semiconductor industry:  —  Intel must fabricate chips …
Gunjan Banerji / Wall Street Journal:
After FAANG stocks recorded big, simultaneous gains in 2021, all five have fallen so far in 2022, leading some investors to seek out other growth stocks  —  The NYSE FANG+ Index, which tracks popular stocks like Meta Platforms, Apple, Amazon and Netflix, has tumbled 10% this year
Shoshana Wodinsky / Gizmodo:
Adtech experts explain how GDPR has proven ineffective thanks to the ingenuity of adtech firms, which have managed to effectively skirt its consent requirement  —  The EU's landmark privacy law, GDPR, was supposed to change the world of tech privacy forever.  What the hell happened?  —  Alerts

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