Techmeme
May 10, 2022, 6:05 PM

Top News

Brian Heater / TechCrunch:
Apple discontinues the iPod touch, leaving the device on sale “while supplies last” and ending the product line after debuting the original iPod in October 2001  —  Last October marked 20 years of the iPod.  It's a remarkable run in the cutthroat, always-iterating world of consumer electronics.
New York Times:
Sources: Netflix executives told employees that the company plans to launch its lower-priced ad-supported tier and crack down on password sharing in Q4 2022  —  Executives said they were aiming to introduce an ad-supported, lower-priced subscription tier in the last three months of the year, quicker than originally indicated.
Stacy-Marie Ishmael / Bloomberg:
A look at Do Kwon's algorithmic stablecoin UST, designed to trade at $1 but which fell as low as $0.60; CoinMarketCap says there is 17.8B UST in circulation  —  Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
Michael D McDonald / Bloomberg:
Dave Lee / @daveleeft:
[Thread] In an interview, Musk says Twitter has a “left bias”, he would “literally put” its “algorithm on GitHub”, and he thinks he would reverse Trump's ban  —  Twitter currently the “least bad” public square, @elonmusk says at #FTCar. “In order to be better at that it needs to get rid of the bots, the scams.” Live here: https://www.youtube.com/...
New York Times:
Interviews with 50+ people detail the rapid rise of Bolt, which overstated its tech and numbers, as its valuation soared from $250M in 2018 to $11B in 2021  —  The start-up has had a meteoric rise, thanks to its charismatic co-founder, Ryan Breslow.  But he sometimes stretched the truth to get there.
James Pearson / Reuters:
The UK and the EU say Russia launched a cyberattack that disrupted Viasat's satellite internet network in February; the US says multiple networks were attacked  —  Russia was behind a massive cyberattack against a satellite internet network which took thousands of modems offline at the onset …
Bloomberg:
Nintendo reports Q4 revenue up 6% YoY to ~$2.9B, profit up 0.6% YoY to $922M, and 4.1M Switch sales, hitting 23.1M total; Nintendo plans to split its stock 10:1  —  Nintendo Co. will split its stock into 10 from October, potentially propping up the shares as the Mario creator struggles …
Laurence Fletcher / Financial Times:
Analysis: Tiger Global has lost about $17B during 2022's tech stock sell-off, erasing in four months around two-thirds of its gains made since its 2001 launch  —  Hedge fund suffers ‘breathtaking’ drop as speculative stocks sink from pandemic peaks  —  Tiger Global has been hit by losses …
Steve Dent / Engadget:
Sony reports Q4 gaming revenue rose 0.76% YoY to ~$5.1B; PS5 sales of 2M, down from 3.3M QoQ, hitting 19.3M total, ~3.1M below the PS4 at the same point in time  —  Sony announced that it sold just 2 million PlayStation 5 units last quarter (Q4), bringing its overall total to 19.3 million.
Sam Reynolds / CoinDesk:
Binance resumes withdrawals of LUNA and UST tokens after suspending them for about six hours due to a high volume of pending withdrawals and “network slowness”  —  Binance has resumed withdrawals of LUNA and UST tokens after the two tokens crashed on Tuesday on the back of a broader fall in the crypto markets.
Corin Faife / The Verge:
Paul Alcorn / Tom's Hardware:
Intel unveils Alder Lake HX laptop chips coming in 2022, featuring up to 16 cores, 5.0 GHz peak clock rates, and a 55W base power draw that can stretch to 157W  —  Up to 16 cores, 5.0 GHz, and 157W of peak power draw  —  Intel is bulking up its family of Alder Lake mobile CPUs …
Rest of World:
A look at Meta's and Google's subsea cable investments in Africa, the least connected continent, as the companies seek the terrestrial links to a billion users  —  One sunny Thursday morning in September 2021, three men gathered at the Multimedia University of Kenya, in Nairobi, for a small ceremony.
Eli Tan / CoinDesk:
Co:Create, which helps NFT collections launch their own tokens, raises a $25M seed led by a16z, in the wake of ApeCoin's successful token-tied NFT approach  —  Non-fungible token (NFT) startup Co:Create has raised a $25 million seed round to help NFT collections launch their own tokens …
Paul Kiernan / Wall Street Journal:
US Treasury Secretary Janet Yellen: passing legislation in 2022 to create a stablecoin regulatory framework “would be highly appropriate”, after UST's stumble  —  Treasury secretary expresses hope that Congress will pass legislation this year to create regulatory framework for stablecoins

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