Techmeme
August 3, 2022, 2:25 AM

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:
Jason Nelson / Decrypt:
An unknown attacker has been emptying Solana and USDC wallets; blockchain audit firm OtterSec says 5K+ Solana wallets “have been drained in the past few hours”  —  An unknown attacker drained thousands of wallets containing at least $4 million worth of Solana and USDC late Tuesday night.
Brian Newar / Cointelegraph:
Adam Morgan McCarthy / The Block:
Sarah Perez / TechCrunch:
Match Group says Tinder CEO Renate Nyborg is leaving after less than a year, reorganizes the app's management team, and ends Tinder's crypto and metaverse plans  —  Dating giant Match Group announced a series of changes to Tinder's management team alongside the announcement of disappointing second-quarter earnings on Tuesday.
Tweets: @mrinaldesai
Tom Warren / The Verge:
NPD Group: US consumer spending on video game products fell 13% YoY to $12.35B in Q2 2022; non-mobile subscription content was Q2's only growth category  —  The video game industry growth has slowed down  —  US consumer spending on video game products has fallen by $1.78 billion in Q2, according to market research firm NPD.
Natasha Mascarenhas / TechCrunch:
Y Combinator shrinks its Summer cohort to nearly 250 companies, down 40% from 414 in its Winter cohort, due to the downturn in the economy and VC environment  —  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.
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 …
Bloomberg:
Sofia Pitt / CNBC:
Wall Street Journal:
Equifax says it fixed a “technology coding issue” that sources say sent lenders faulty credit scores on millions of US consumers from mid-March to early April  —  During a three-week period this year, Equifax sent faulty scores to lenders, resulting in higher interest rates and denied applications
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 …
Natasha Lomas / TechCrunch:
A CJEU ruling in a Lithuanian case involving use of sensitive personal data could have implications for online platforms that use background tracking for ads  —  A ruling put out yesterday by the European Union's top court could have major implications for online platforms that use background tracking …

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Paul Sawers / TechCrunch: