Techmeme
July 5, 2022, 11:00 AM

Top News

Foo Yun Chee / Reuters:
EU lawmakers pass the Digital Services Act and the Digital Markets Act, seeking to regulate US tech giants, but limited resources could hamstring enforcement  —  EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet (GOOGL.O) …
Juro Osawa / The Information:
Sources: Sequoia Capital China is about to raise $9B for four new funds, above its $8B+ target, the largest amount raised by a single China tech-focused VC firm  —  Sequoia Capital's Chinese affiliate is about to close $9 billion in fresh capital for four new funds, higher than its original target …
Cristina Criddle / Financial Times:
Sources: TikTok abandons plans to expand its TikTok Shop live e-commerce program to Europe and the US, after internal problems and a lack of traction in the UK  —  Chinese-owned social media platform's foray into livestream shopping in the UK has struggled to gain traction
Munsif Vengattil / Reuters:
Source: Twitter is seeking to overturn some Indian government content takedown orders through a judicial review, alleging abuse of power by officials  —  Twitter is seeking to overturn some Indian government orders to take down content, a source familiar with the matter said …
Lucas Shaw / Bloomberg:
Netflix, Amazon, Warner Bros., and others are cutting costs and scrapping TV shows at record rates; 559 scripted shows were released in 2021, up by 200+ on 2013  —  The sudden decline in Netflix's share price and the growing fear of a recession have forced Hollywood into a new period of fiscal austerity.
Aaron Tilley / Wall Street Journal:
Synergy Research: Amazon, Microsoft, and Google accounted for 65% of the $53B in global cloud spending in Q1 2022, up from 52% in 2018  —  Three companies account for about two-thirds of cloud spending and are using their size to maintain their hold on rapidly growing market
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Taylor Nicole Rogers / Financial Times:
Survey: 25% of Black American investors owned crypto at the start of 2022, compared to 15% of white investors, making them especially vulnerable to the downturn  —  Higher exposure to digital assets leaves owners vulnerable to downturn  —  The widespread losses caused by the cryptocurrency crash …
Sergiu Gatlan / BleepingComputer:
Google updates Chrome for Windows to address a high-severity zero-day vulnerability exploited by attackers in the wild, its fourth Chrome zero-day patch in 2022  —  Google has released Chrome 103..5060.114 for Windows users to address a high-severity zero-day vulnerability exploited by attackers …
Sarah Zheng / Bloomberg:
Reuters:
French music streamer Deezer goes public via SPAC on the Euronext stock exchange, opening at €8.50/share before dropping ~27% to around €6.50  —  Shares of French music-streaming platform Deezer plunged as much as 35% on its first trading day, in a blow to telecoms maverick Xavier Niel …
Paul MacInnes / The Guardian:
FIFA will introduce semi-automated offside technology at the 2022 World Cup, using 12 cameras and a custom soccer ball to track players and make offside calls  —  - Sensor in ball will send out location data 500 times per second  — Fifa claim average decision time will fall from 70sec to 25sec

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Richard Lai / Engadget:
Manish Singh / TechCrunch:
Meir Orbach / CTech:
Jane Clinton / The Guardian: