Techmeme
May 26, 2022, 3:10 AM

Top News

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 jumps 7%+  —  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.
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 …
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.
Hannah Murphy / Financial Times:
Andreessen Horowitz announces a $4.5B crypto fund, its fourth and largest so far, allocating about $1.5B for seed investments and $3B for venture investments  —  Venture capital group launches its largest fund to date focused on digital assets despite market downturn
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
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.
Issie Lapowsky / Protocol:
Peter Thiel steps down from Meta's board, on which he secured a seat 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.
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.
Lawrence Abrams / BleepingComputer:
DuckDuckGo confirms a researcher's findings that its browser allows some Microsoft trackers on third-party sites, citing a Microsoft search content agreement  —  The privacy-focused DuckDuckGo browser purposely allows Microsoft trackers on third-party sites due to an agreement …
Kate Irwin / Decrypt:
DeFi-focused startup Common raises $20M from Spark Capital, Polychain, Jump, Wintermute, and others for Commonwealth, its community management platform for DAOs  —  Common's investors include BitDAO, Spark Capital, and Jump. … Common's new funds will go toward the further development …
Chad Bray / South China Morning Post:
The UK orders a security review of chipmaker Newport Wafer Fab's sale to Nexperia, the Dutch subsidiary of China's Wingtech, after reportedly not intervening  —  Assessment of US$79 million acquisition of Britain's biggest semiconductor maker comes under new powers conferred by National Security …
Sam Nussey / Reuters:
Sony says it plans to ramp up PlayStation 5 production and signals a radical broadening of its game portfolio, including more titles on PC and mobile  —  Sony Group Corp (6758.T) said it plans to ramp up production of its PlayStation 5 console as supply chain snarls ease and signalled …
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