Techmeme
May 27, 2022, 4:25 AM

Top News

Politico:
Sources: a bipartisan bill that would ban Big Tech companies from favoring their products faces resistance from some Senate Democrats worried about the midterms  —  A bipartisan legislative effort to rein in the nation's largest tech companies is facing fresh resistance from a faction …
The Markup:
An investigation finds Apple, Meta, Amazon, Google, and Microsoft have launched a coordinated campaign in 31 states against data privacy legislation since 2021  —  Coordinated industry lobbying is overwhelming the scattered efforts of consumer groups and privacy-minded lawmakers
Lora Kolodny / CNBC:
A Twitter shareholder sues Elon Musk and Twitter over the handling of the acquisition, saying Musk engaged “in conduct designed to create doubt about the deal”  —  - Since Musk's acquisition bid, Twitter's share price has dropped more than 12%, and Tesla's is down about 28% as part of a broad sell-off in tech stocks.
Jez Corden / Windows Central:
Microsoft confirms it is developing an HDMI device codenamed Keystone, that connects to any TV or monitor, and offers Xbox game streaming  —  The key to the cloud.  —  For a few years, rumors have persisted that Microsoft was exploring building some form of streaming stick …
Yogita Khatri / The Block:
Tether enters Latin America by launching the MXNT stablecoin, pegged to the Mexican peso, initially available on the Ethereum, Tron, and Polygon blockchains  —  Quick Take  — Tether has launched a new stablecoin pegged 1:1 to the Mexican peso.  — It will be initially available on Ethereum, Tron and Polygon.
Benjamin Mullin / New York Times:
Sources: Substack dropped efforts to raise money, after talks to raise $75M-$100M at a $750M-$1B valuation, during which the company said 2021 revenue was ~$9M  —  Amid an industrywide downturn, venture investors are preaching austerity and halting new deals, particularly for companies that have spent aggressively on growth.
Chavi Mehta / Reuters:
Broadcom offers to acquire VMware for ~$61B in cash and stock, paying $142.50 per share, a nearly 49% premium, 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 …
Drew Harwell / Washington Post:
Human Rights Watch finds 89% of 164 remote learning apps and sites used during the pandemic in 49 countries shared student data with marketers and data brokers  —  The educational tools used by students during the pandemic shared their information with advertisers and data brokers that could track …
Dina Bass / Bloomberg:
Microsoft plans to slow hiring in Windows, Office, and Teams groups, citing a need to realign staffing priorities; EVP Rajesh Jha must approve all new hires  —  Microsoft Corp. will slow hiring in its Windows, Office and Teams chat and conferencing software groups, citing a need …
Michael Tobin / Bloomberg:
Instacart plans to slow hiring as it prepares for its IPO, after hiring over 1,500 staff in 2021; Instacart cut its valuation by 40% to $24B in March 2022  —  Grocery delivery startup Instacart Inc. is planning to slow the pace of hiring as it prepares for an initial public offering, focusing instead on profitability.
Ingrid Lunden / TechCrunch:
Poland-based Nomagic, which makes pick-and-place warehouse robots, raises a $22M Series A led by Khosla Ventures, Almaz Capital, and European Investment Bank  —  Robotics are playing a growing role in the world of e-commerce logistics and fulfillment — where they are seen not just as a way to speed …
Devin Coldewey / TechCrunch:
New York-based Parallel Learning, a telehealth service focused on students with learning challenges, raises a $20M Series A led by Tiger Global  —  If a kid is having trouble at school, one of the standard steps is to schedule an assessment for conditions like dyslexia, ADHD, or anything else that might require a special approach.

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More News

Kyle Alspach / Protocol:
Dan Primack / Axios:

Earlier Picks

Bloomberg:
Steve Dent / Engadget:
Alex Konrad / Forbes:
Sujith Somraaj / Decrypt:
Lauren Rosenblatt / The Seattle Times:
Sam Nussey / Reuters: