Techmeme
July 28, 2022, 1:50 AM

Top News

Salvador Rodriguez / Wall Street Journal:
Meta reports its first-ever YoY quarterly revenue decline and issues a lowered Q3 forecast, citing a weak ad demand environment and macroeconomic uncertainty  —  Facebook parent Meta Platforms Inc. META 6.55%▲ posted its first decline in revenue and issued a muted outlook …
Meta - Investor Relations:
Meta reports Q2 revenue down 1% YoY to $28.8B, net income down 36% YoY to $6.69B, and Family of Apps daily active people up 4% YoY to 2.88B  —  Announces Plans for Chief Financial Officer Transition and Chief Strategy Officer Appointment MENLO PARK, Calif., July 27, 2022 /PRNewswire …
Jordan Novet / CNBC:
Mark Zuckerberg: the economic downturn will broadly impact the digital ad business and Meta thus plans to “steadily reduce headcount growth over the next year”  —  - It appears the economy has begun a downturn, said Mark Zuckerberg, CEO of Meta Platforms, on the company's Q2 earnings call.
Nelson Wang / CoinDesk:
Meta's Reality Labs division posts a $2.81B loss for Q2 2022, vs. $3.67B est., on $452M in revenue, compared to a $2.96B loss for Q1 2022 on $695M in revenue  —  Meta reported revenue of $452 million for the division, down from $695 million in the first quarter.  —  Jul 27, 2022
Amanda Silberling / TechCrunch:
New York Times:
The FTC files to block Meta's acquisition of VR company Within, saying Meta “chose to buy” instead of compete, the first antitrust lawsuit filed under Lina Khan  —  The move is a blow to Meta's metaverse efforts and signals a shift in how the Federal Trade Commission is approaching tech deals.
Richard Speed / The Register:
Microsoft details Austria-based malware group Knotweed, which has used Windows and Adobe zero-day exploits to attack European and Central American organizations  —  Reports seeing ‘offensive actor’ flinging SubZero malware  —  Microsoft has published an analysis of a Europe-based …
Jason Schreier / Bloomberg:
Interviews with 20+ people detail GTA developer Rockstar's attempts to change its “boys' club” workplace culture, starting in 2018, after complaints and burnout  —  In the summer of 2020, after a police officer killed George Floyd, Rockstar Games quietly shelved a mode of play …
Abner Li / 9to5Google:
Google delays phasing out third-party cookies in Chrome to H2 2024, after deferring the plan from 2022 to 2023, citing the need for more Privacy Sandbox tests  —  Google was originally planning to get rid of third-party cookies in its browser by 2022, but that was later pushed back to 2023.
Ingrid Lunden / TechCrunch:
Spotify has “decided to stop further production of Car Thing units” and will take a €31M charge, citing factors like “product demand and supply chain issues”  —  Spotify's push to complement its music streaming with a big move into podcasting and related content appears …
Todd Spangler / Variety:
Kevin Breuninger / CNBC:
The US Senate passes the Chips and Science Act, including $52B+ for US chipmakers plus tax credits to encourage investment; the bill now heads to the House  —  - The Senate passed bipartisan legislation aimed to help the U.S. compete with China by injecting tens of billions of dollars into the domestic production of semiconductors.
Dustin Volz / Wall Street Journal:
Former US national security officials form Open Source Intelligence Foundation to promote analysis of public data like social media posts for intel-gathering  —  Social media, satellite images, mobile-phone data can yield as much insight as traditional espionage, but few rules exist
More: Lawfare
Emma Roth / The Verge:
Chris Stokel-Walker / Gizmodo:
Mark Gurman / Bloomberg:
Sources: Apple has hired Luigi Taraborrelli, who was most recently Lamborghini's head of chassis and vehicle dynamics, to work on its self-driving electric car  —  Apple Inc. has enlisted one of Lamborghini's top car-development managers in a sign that it's stepping up work …

Sponsor Posts

Intel:
Managing a Complex Multi-Cloud Environment Requires a Reliable Ecosystem  —  To avoid vendor lock-in and effectively manage your mission critical workload needs, you need a reliable ecosystem and architecture
Vesto:
The treasury management platform built for startups  —  Put your idle cash to work, earn higher yields, and extend your runway with Vesto.
Zoho:
Hurdles that companies face with internal communication and how to deal with them  —  The success of any organization depends largely on how well its employees work together.  Even if a business is working …
Census:
Figma's CFO on how they built a $20B business with data  —  From Series B to acquisition, Figma needed Census to scale their business operations on top of their data warehouse.
Climate Draft:
Climate Career Resources for Laid Off Tech Workers  —  Your skills are in demand!  Check out our jobs board, learn about the climate ecosystem, and join our directory to make yourself discoverable to top venture-backed startups.
Techmeme Ride Home:
Thu. 12/08 - Explaining Those Lensa Magic Avatars
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 1:50 AM ET, July 28, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks

Taylor Lorenz / Taylor Lorenz's Newsletter:
Ry Crist / CNET:
Alex Heath / The Verge:
Ivan Mehta / TechCrunch: