Techmeme
May 7, 2022, 1:50 AM

Top News

New York Times:
Elon Musk's investor pitch deck: grow Twitter revenue 5x to $26.4B, cut ad revenue reliance to <50% by 2028, grow Twitter Blue's users to 69M by 2025, and more  —  Here's what Mr. Musk is projecting for Twitter's finances over the next few years, according to a pitch deck he presented to investors.
Joe Warminsky / The Record:
The US sanctions cryptocurrency mixing service Blender.io for allegedly laundering $20.5M from the Axie Infinity hack, the first time the US sanctioned a mixer  —  The U.S. Treasury Department on Friday sanctioned a cryptocurrency mixing service for the first time, citing evidence that it was used …
Wall Street Journal:
Some ex-TikTok US staff talk of long hours, tight deadlines, lack of work-life boundaries, sleep deprivation, weekend work, and secrecy uncommon in the industry  —  Former U.S. staffers tell of sleep deprivation, work on weekends and mandatory meetings with colleagues on the other side of the globe
Kanishka Singh / Reuters:
The SEC says Nvidia will pay $5.5M to settle charges it failed to disclose that cryptomining was a “significant element” of its FY 2018 gaming revenue growth  —  The U.S. Securities and Exchange Commission said Friday it had settled charges against technology company Nvidia Corporation …
Jordan Novet / CNBC:
Google forms a new blockchain group, led by former Citigroup executive James Tromans, to make the Google Cloud Platform the first choice for Web3 developers  —  - Former Citigroup executive James Tromans will lead the new Google group that will build services to help developers construct Web3 applications.
Zachary Boddy / Windows Central:
A major Xbox Network outage is preventing some users from launching games and starting Cloud Gaming sessions; issues related to purchases have been resolved  —  Xbox consoles are temporarily a lot less useful for gaming. … The Xbox Network is the infrastructure that powers …
Cointelegraph:
A report on publicly traded crypto mining companies finds Core Scientific leads with $545M in 2021 revenue, Riot Blockchain had $215M, and Hive Blockchain $195M  —  Mining firm Core Scientific's hash rate leads all public companies with 8.3 EH/s, and it mined 5,769 BTC in 2021.  —  225 Total views
Dan Mangan / CNBC:
A California federal judge dismisses Donald Trump's lawsuit seeking to lift his ban from Twitter but may allow an amended complaint to be filed against Twitter  —  - A federal judge dismissed a lawsuit by former President Donald Trump seeking to lift his ban from Twitter.
Echo Wang / Reuters:
Legal experts say Elon Musk's foreign funding for Twitter could draw scrutiny from CFIUS for potential national security risks, similar to the kind TikTok faced  —  Elon Musk's decision to accept some foreign investors as part of his $44 billion buyout of Twitter Inc (TWTR.N) …
Vauhini Vara / Wired:
How low prices and influencers helped Chinese online fast fashion retailer Shein become the world's third biggest private company, claiming a 28% US marketshare  —  The Chinese company has become a fast-fashion juggernaut by appealing to budget-conscious Gen Zers.  But its ultralow prices are hiding unacceptable costs.
Jennifer Elias / CNBC:
Internal docs: Google is revamping performance reviews, resulting in higher pay, as it tries to ease tensions between staff and leadership about compensation  —  - Google introduced changes in efforts to streamline its performance reviews and promotions.  — Executives said the changes …
More: The VergeThanks:@mattrosoff

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