Techmeme
August 2, 2022, 8:35 PM

Top News

Caitlin McCabe / Wall Street Journal:
Robinhood plans to cut its headcount by ~23% over “additional deterioration of the macro environment”, after laying off ~9% of full-time employees in April 2022  —  The job cuts mark the second round of layoffs for the online brokerage, which exploded in popularity during the Covid-19 pandemic
Mengqi Sun / Wall Street Journal:
New York's State Department of Financial Services fines Robinhood's crypto unit $30M for allegedly violating anti-money laundering and cybersecurity regulations  —  The New York State Department of Financial Services alleges that Robinhood violated anti-money-laundering and cybersecurity regulations
Adam Morgan McCarthy / The Block:
Washington Post:
Sources: Nancy Pelosi is set to meet with TSMC's chairman Mark Liu to discuss implementation of the Chips and Science Act during her visit to Taiwan  —  TSMC is building a chip factory in Arizona — and considering constructing several on the site — in a project seen as key to U.S. national security
Bloomberg:
The Chips and Science Act bars companies that get US federal funding from adding production of advanced chips in China, impacting Intel, TSMC, and others  —  As the US Congress passed an historic $52 billion federal program to boost domestic chipmaking capabilities, it included one significant caveat …
Mitchell Clark / The Verge:
Samsung launches its iFixit repair program, covering Galaxy S20, S21, and Tab S7+ devices; S22 flagships are not supported and the number of repairs are limited  —  But not its latest phones and tablets  —  Samsung and Fixit have launched their repair program that lets Galaxy S20, S21 …
CNBC:
AMD reports Q2 revenue up 70% YoY to $6.6B, vs $6.53B est., including Data Center segment sales up 83% YoY to $1.5B and Client segment sales up 25% YoY to $2.2B  —  - AMD reported earnings for the quarter ending in June that beat estimates.  — The company gave a forecast for the current quarter …
Natasha Mascarenhas / TechCrunch:
Y Combinator narrows its Summer cohort size by 40% to ~250 companies, down from 414 in its Winter cohort, due to a downturn in the economy and in VC funding  —  Technically, the accelerator is more exclusive now  —  Y Combinator says it has intentionally shrunk the number of startups within its accelerator for the Summer 2022 batch.
Sofia Pitt / CNBC:
Uber reports Q2 revenue up 105% YoY to $8.1B, above $7.39B estimates, a $2.6B net loss, and mobility gross bookings up 55% YoY to $13.4B; stock closes up 18.9%  —  - Uber reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments …
Brian Newar / Cointelegraph:
Hackers drain nearly the entire $190.7M in crypto from the Nomad token bridge, which raised an April 2022 seed from Coinbase, OpenSea, and five other companies  —  Hundreds of potential exploiters appear to have drained all of the bridge's $190 million in TVL in just a matter of hours.  —  57 Total views

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This is a Techmeme archive page. It shows how the site appeared at 8:35 PM ET, August 2, 2022.

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