Techmeme
May 26, 2022, 9:10 AM

Top News

Tim Higgins / Wall Street Journal:
Apple will raise the hourly pay for US workers to $22, up 45% from 2018, amid inflation and a unionization push; US starting salaries are also expected to rise  —  The iPhone maker faces store unionization attempts, higher inflation  —  Apple Inc. AAPL .11%▲ is boosting pay …
Lauren Kaori Gurley / VICE:
Leaked video: Apple SVP of Retail + People Deirdre O'Brien tells employees that joining a union would make it harder for Apple to improve working conditions  —  In an internal video circulated among Apple's 58,000 retail employees, Apple's vice-president of retail suggested that a union …
Diane Bartz / Reuters:
Twitter agrees to pay $150M to the FTC, settling allegations that it misrepresented the “security and privacy” of user data between May 2013 and September 2019  —  Twitter Inc (TWTR.N) has settled with U.S. authorities over allegations it misrepresented the “security and privacy” …
CNBC:
Filing: Elon Musk plans to provide an additional $6.25B in equity financing for his Twitter buyout, boosting his commitment to $33.5B; Twitter's stock rises 5%+  —  A new filing reveals that Elon Musk plans to front $33.5 billion in his bid to take over Twitter.
Dan Primack / Axios:
Jack Dorsey leaves Twitter's board of directors, effective today; Dorsey has discussed rolling over his 2.4% Twitter stake into Elon Musk's takeover deal  —  Jack Dorsey is leaving the board of Twitter, effective today.  The move had been telegraphed last fall, when he stepped down as the social media company's CEO.
Chavi Mehta / Reuters:
Broadcom announces plans to acquire VMware for around $61B in cash and stock, paying $142.50 per share, and will assume VMware's $8B in net debt  —  May 26 (Reuters) - Broadcom Inc (AVGO.O) said on Thursday it will buy cloud service provider VMware Inc (VMW.N) in a $61 billion cash-and-stock deal …
Patrick McGee / Financial Times:
Q&A with Epic CEO Tim Sweeney on creating the metaverse, growing the Unreal Engine, Apple and Google's app store policies, Meta's metaverse plans, and more  —  Online game Fortnite is arguably the closest thing to the metaverse that exists today.  Some 70mn gamers immerse themselves …
Sujith Somraaj / Decrypt:
Binance, FTX, Crypto.com, Bitfinex, and other exchanges have pledged support for Do Kwon's Terra 2.0, set to launch on Friday by airdropping tokens  —  Cryptocurrency exchanges have pledged support to Terra's upcoming relaunch, following the passing of a proposal to launch a new blockchain.
Debby Wu / Bloomberg:
Sources: Apple plans to keep iPhone production at ~220M, about the same as last year, compared to ~240M market forecasts, amid inflation and a tough market  —  Apple Inc. is planning to keep iPhone production roughly flat in 2022, a conservative stance as the year turns increasingly challenging for the smartphone industry.
TechCrunch:
Sources: one-click checkout service Bolt has laid off 100+ employees across go-to-market, sales, and recruiting roles amid slowing revenue and customer growth  —  One-click checkout startup Bolt has laid off at least 100 employees and counting across go-to-market, sales and recruiting roles, sources say.
Alex Konrad / Forbes:
A profile of Stripe's John and Patrick Collison; sources say the startup's gross revenue rose 60% YoY to nearly $12B in 2021 as net revenue reached almost $2.5B  —  Billionaire brothers John and Patrick Collison built Stripe into one of the world's most-hyped, highest valued — and profitable! — startups, worth some $95 billion.
Jonathan Browning / Bloomberg:
The UK's CMA opens an investigation into whether Google illegally favored its own ad tech exchange services and excluded rivals  —  The UK's antitrust watchdog started a new investigation of Alphabet Inc.'s Google, over suspicions it may have abused its dominant position across its ad tech …
Ashley Stewart / Insider:
Interviews with former and current Microsoft employees suggest a widespread pattern of executive misconduct persists, years after Satya Nadella vowed to end it  —  The Microsoft executive walked into the small, windowless room in Studio C at about 8 o'clock that evening.
Liam Tung / ZDNet:
A 51-page Senate committee report warns that the US government lacks comprehensive data on ransomware attacks and payments and suffers from fragmented reporting  —  The US government must clean up ransomware reporting and data collection if it wants to devise adequate policy responses.
Peter Grant / Wall Street Journal:
Some hotels are looking to guarantee bookings revenue by partnering with startups like Pinktada that convert stays into NFTs to be bought and sold by guests  —  NFTs also are being used to raise capital to buy golf courses or land, giving token buyers a stake in the projects
Issie Lapowsky / Protocol:
Peter Thiel steps down from Meta's board, which he joined in 2005 after investing $500K; Meta announced in February 2022 that Thiel would be leaving  —  Peter Thiel has officially stepped down from Meta's board, a position he's held since Facebook was in its infancy.

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Kif Leswing / CNBC:
Mark Bergen / Bloomberg:
Gabrielle Coppola / Bloomberg:
Hannah Murphy / Financial Times: