Techmeme
May 12, 2022, 9:35 PM

Top News

Tim Copeland / The Block:
Terraform Labs resumes Terra block production, with staking disabled, after halting the blockchain “to prevent governance attacks” following LUNA's collapse  —  Quick Take  — Terraform Labs has said the Terra blockchain has been halted.  — This is due to concerns …
Joanna Ossinger / Bloomberg:
After UST's collapse, most rival algorithmic stablecoins are below their dollar peg; the biggest non-algorithmic stablecoins USDT and USDC are mostly holding  —  Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
Shaurya Malwa / CoinDesk:
Terra's LUNA drops to $0.01, a 99%+ decline in 24 hours, down from $60 earlier this week and $120 in mid-April, after Terra's UST stablecoin lost its dollar peg  —  LUNA tokens lost 96% in the past 24 hours alone, prompting more to be minted in a mechanism that helped lift the UST price.
Financial Times:
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce”  —  Token's tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
@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 …
Sam Nussey / Reuters:
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.
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 …
Ryan Browne / CNBC:
David Yaffe-Bellany / New York Times:
Scott Stein / CNET:
Mark Zuckerberg demos mixed reality on Meta's Project Cambria headset; Meta will enable MR app development for Quest 2 and Cambria via its Presence Platform  —  A demo of Meta Cambria demonstrates how it blends AR and VR, while Quest 2 headsets could be used to develop apps in the meantime.
Financial Times:
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.
Lauren Kaori Gurley / VICE:
Leaked memo: Apple is sending anti-union talking points to US retail store leaders, including that workers could lose “flexibility” and merit-based promotions  —  Apple is instructing managers to tell retail workers that they could lose benefits and career opportunities if they unionize.

Sponsor Posts

Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Prospect:
A running list of the best startups to join  —  We've analyzed thousands of startups using the same data VCs use and distilled our list down to the top 2%.  Discover and join the next Stripe, Airbnb, or Coinbase today.
Zoho:
How Zoho Cliq cultivates an inclusive and creative workplace  —  Traditional communication methods, like memos and formal meetings, have their value, but they can sometimes put a lid on creative sparks and keep important ideas from being heard.
Techmeme Leaderboards:
Discover the top reporters on AI, VR, policy, and much more  —  We've analyzed Techmeme's news crawl to identify the most influential and prolific writers on 48 news topics.  Download reports immediately for just $100.
Big Technology Podcast:
OpenAI's Big Week, Did Google Kill The Web, AWS CEO Resigns
The Big Technology Podcast, hosted by journalist Alex Kantrowitz, takes you behind the scenes in the tech world featuring interviews with plugged-in insiders and outside agitators.
Techmeme Ride Home:
Mon. 05/20 - That GPT Voice Is NOT Scar-Jo
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 9:35 PM ET, May 12, 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

Thomas Stackpole / HBR.org:

Earlier Picks

Jay Peters / The Verge: