Techmeme
July 26, 2022, 3:10 PM

Top News

Ashley Capoot / CNBC:
Responding to criticism, Adam Mosseri says Instagram's full-screen feed is “a test” that is “not yet good” and that the app has to lean into the shift to video  —  - Instagram head Adam Mosseri shared a video on Twitter Tuesday explaining recent changes to the social media platform.
Travis Clark / Insider:
Scott Rosenberg / Axios:
Vipal Monga / Wall Street Journal:
Memo: Shopify plans to cut ~1,000 workers, or 10% of its global workforce, citing consumers pulling back on online shopping; SHOP drops 15%+  —  CEO Tobi Lütke says company made wrong bet on pandemic-fueled boom in e-commerce growth lasting  —  Shopify Inc. SHOP -16.29%▼ …
Bloomberg:
Sources: before its probe into alleged insider trading, the SEC started probing whether Coinbase improperly let Americans trade digital assets; stock drops 18%+  —  Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered …
Max Chafkin / Bloomberg:
Coinbase's post-IPO decision to list “altcoins”, or “shitcoins”, was a reckless move that led to alleged insider trading and higher risks for retail investors  —  In September 2020, amid a wave of activism by employees in support of the Black Lives Matter movement …
Ian Hamilton / UploadVR:
Meta plans to increase the prices of its Quest 2 headsets to $400 for 128GB and $500 for 256GB on August 1, and bundle Beat Saber for free through December 31  —  The price for a new Quest 2 is jumping to $399 as Meta says “the costs to make and ship our products have been on the rise.”
The Verge:
As Mark Zuckerberg says “there are probably a bunch of people at the company who shouldn't be here” during a weekly Meta Q&A, a survey suggests staff anxiety  —  As Meta's growth slows, Mark Zuckerberg is pushing even harder.  Will his employees melt under the pressure?
New York Times:
Sources: US-based crypto exchange Kraken has been under investigation by the US Treasury Department since 2019 for potentially violating Iran sanctions and more  —  The Treasury Department is investigating whether the crypto exchange allowed users in Iran to buy and sell digital tokens, said people with knowledge of the matter.
More: The Block
Liron Shapira / @liron:
[Thread] A look at Helium, a crypto network of 500K+ IoT hotspots, which raised $365M from a16z and others and generates an estimated $6.5K/month in revenue  —  .@Helium, often cited as one of the best examples of a Web3 use case, has received $365M of investment led by @a16z. Regular folks have also been convinced to spend $250M buying hotspot nodes, in hopes of earning passive income. The result? Helium's total revenue is $6.5k/month https://twitter.com/...
Jeffrey Dastin / Reuters:
Amazon plans to raise its annual Prime subscription prices across Europe by up to 43% on September 15, citing “increased inflation and operating costs”  —  Amazon.com Inc (AMZN.O) will raise fees for its delivery and streaming service Prime in Europe by up to 43% a year …
Sarah Butler / The Guardian:
Bloomberg:
The UK's CMA publishes its music streaming report, saying the market being dominated by a handful of major players is not “currently causing consumers harm”  —  The music streaming market dominated by a handful of major players is giving consumers a fair shake …
Nikhil Krishnan / Out-of-Pocket:
Amazon's One Medical acquisition is likely cheaper to the company than unionization would be and could be used as a tool to counter organizing employees  —  I guess I should say something? … This episode of Out-Of-Pocket is brought to you by...  Nabla creates SDKs and APIs …
Kyle Wiggers / TechCrunch:
Neon, which provides developers with a serverless option for Postgres databases, has raised a $30M Series A-1 led by GGV, bringing its total funding to $55M  —  Neon, a startup providing developers with a serverless option for Postgres databases, today announced that it raised $30 million …
More: FinSMEs
Kadhim Shubber / Financial Times:
Lawyers in the Celsius bankruptcy are examining Tether recovering an $840M USDT loan, highlighting an uncertain area of bankruptcy law for crypto companies  —  Case is a major test of how US insolvency rules will apply in digital asset sector  —  Stablecoin issuer Tether faces scrutiny …

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Earlier Picks

Danny Nelson / CoinDesk:
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