Techmeme
May 13, 2022, 8:45 AM

Top News

Nivedita Balu / Reuters:
Elon Musk says his Twitter deal is temporarily on hold “pending details supporting calculation that spam/fake accounts” represent <5% of users; TWTR drops 17%+  —  Elon Musk said on Friday his $44-billion deal for Twitter Inc (TWTR.N) was temporarily on hold, citing pending details on spam and fake accounts.
@kayvz:
[Thread] Twitter product chief Kayvon Beykpour says he is leaving at the request of CEO Parag Agrawal, who wants to “take the team in a different direction”  —  Interrupting my paternity leave to share some final @twitter-related news: I'm leaving the company after over 7 years.
Bloomberg:
In a memo, Twitter CEO Parag Agrawal announces a hiring freeze and other cost-cutting efforts; VP of product Jay Sullivan will take over as head of product  —  Twitter Inc. Chief Executive Officer Parag Agrawal announced a hiring freeze and other cost-cutting efforts on Thursday …
Sunil Jagtiani / Bloomberg:
Terraform Labs halts Terra block production for the second time in 24 hours “to come up with a plan to reconstitute it”, after UST and LUNA collapsed  —  The blockchain behind the collapsed TerraUSD stablecoin and the affiliated Luna token stopped processing new transactions for the second time in less than a day.
Shaurya Malwa / CoinDesk:
Financial Times:
Joanna Ossinger / Bloomberg:
Yueqi Yang / Bloomberg:
Coinbase's market cap falls to $12.98B from a $75B+ peak in 2021 as its stock closes at $58.50, far below its first day closing price of $328.28 in April 2021  —  Coinbase Global Inc. has declined precipitously this year, largely mimicking the drop in Bitcoin prices and taking its market value …
Lucas Matney / TechCrunch:
Ex-Facebook crypto chief David Marcus launches Lightspark, a payments startup building on Bitcoin's Lightning network, backed by a16z, Paradigm, and others  —  After his departure from Facebook in November, many crypto industry insiders speculated where long-time executive David Marcus would land.
Jane Lanhee Lee / Reuters:
Arm reports 2021 revenue rose 35% YoY to $2.7B, driven by licensing, up 61% YoY to $1.13B, and royalties, up 20% YoY to $1.54B; 29.2B ARM chips shipped in 2021  —  SoftBank Group Corp's(9984.T) chip technology firm Arm Ltd on Thursday reported record revenue for 2021, and Chief Executive …
Washington Post:
Interviews with 17 Hollywood insiders reveal that celebrities view Twitter as a high-risk, low-reward platform, and why Musk's ownership might make it worse  —  Elon Musk was right that Twitter's most popular accounts have gone quieter over the years.  Hollywood insiders explain what happened …
Tanaya Macheel / CNBC:
SEC filing: FTX CEO Sam Bankman-Fried bought a 7.6% stake, worth $648M, in Robinhood, calling it “an attractive investment”; stock jumps 20%+ after hours  —  Sam Bankman-Fried, the CEO of crypto exchange FTX, has taken a 7.6% stake in Robinhood, according to a Thursday filing with the Securities and Exchange Commission.
Mahira Dayal / The Information:
PitchBook: 16 new VC funds with 60%+ female decision makers have raised $4.5B from January to April 2022; women-led funds raised $3.7B in 2021 and $1.8B in 2020  —  For years, women-led venture capital funds were the true Silicon Valley unicorns, a rarity in a sector where the vast majority of check writers are men.

Sponsor Posts

Intel:
Managing a Complex Multi-Cloud Environment Requires a Reliable Ecosystem  —  To avoid vendor lock-in and effectively manage your mission critical workload needs, you need a reliable ecosystem and architecture
MicroAcquire:
New opportunities are waiting for you  —  Join 100,000+ entrepreneurs buying and selling startups on the world's #1 acquisition marketplace.  Expertly curated to match serious buyers with pre-vetted startups of all sizes.
Zoho:
5 ways to make your employees feel valued on their work anniversary  —  Taking steps to recognize and celebrate your employees is a surefire way to assure them that they are on the right track.
Storyblok:
The only headless CMS with a visual editor  —  Devs get the flexibility to build experiences for any frontend, while content creators need no coding skills to edit content independently.
Techmeme Ride Home:
(TWTR SPC) Variety Special
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 8:45 AM ET, May 13, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Paresh Dave / Reuters:

Earlier Picks

Lauren Kaori Gurley / VICE:
Scott Stein / CNET: