Techmeme
August 3, 2022, 4:35 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:
Nikkei Asia:
US House Speaker Nancy Pelosi meets with TSMC chairman Mark Liu and others to discuss implementation of the Chips and Science Act during her Taiwan visit  —  TAIPEI — U.S. House Speaker Nancy Pelosi met with Taiwan's most important chip industry leaders in Taipei on Wednesday as part …
Bloomberg:
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.
Saritha Rai / Bloomberg:
Internal memo: Zomato appoints four CEOs to lead each of its key business units Zomato, Blinkit, Hyperpure, and Feeding India and plans to rename itself Eternal  —  Zomato Ltd., the Indian food-delivery company that went public last year, is appointing chief executive officers to lead …
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 segment that saw growth  —  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.
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 …
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 …

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Earlier Picks

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