September 16, 2022, 8:30 AM

Top News

New York Times:
Uber is investigating a breach of its systems and has taken some of its internal communications and engineering systems offline; Uber stock is down 5%+  —  The company said on Thursday that it was looking into the scope of the apparent hack.  —  Uber's computer network was breached on Thursday …
Washington Post:
The Uber hacker, who reportedly claims to be 18 years old, says they had breached the company for fun and might leak its source code “in a few months”  —  The company said in a tweet it was “responding to a cybersecurity incident”  —  SAN FRANCISCO — Uber's computer systems …
Wall Street Journal:
Speaking hours after Ethereum's Merge update, SEC Chair Gary Gensler says cryptocurrencies that let holders stake coins may be subject to US securities laws  —  SEC chairman says system used by ether following software update could trigger securities laws  —  WASHINGTON—Ethereum's big software update …
Mike Truppa / The Block:
PitchBook: Figma deal is the largest exit for a VC-backed company in ~20 years; source: Index Ventures' ~12% stake makes it Figma's biggest outside shareholder  —  Danny Rimer first invested in Figma in 2012, shortly after the company was established and began developing software tools for designers.
Bryce Elder / Financial Times:
Natasha Singer / New York Times:
California Governor Newsom signs into law an online safety bill that puts limits on the data companies collect on minors; the law goes into effect in July 2024  —  The bill could require many social media sites, games and other online services used by children to install protections for minors.
Ingrid Lunden / TechCrunch:
General Atlantic to buy out SoftBank's entire 15% stake in game-based online learning service Kahoot for about $152M; SoftBank spent $215M+ for the stake  —  SoftBank's retreat from its past investing exuberance continues apace.  This morning, Kahoot, the Norwegian startup that provides …
More: Reuters
Casey Newton / Platformer:
Source: Meta's Chris Cox directed the New Product Experimentation division to scale back; Meta says the division will focus on short-form video  —  Facebook's New Product Experimentation division is scaling back its mission dramatically, Platformer has learned.
The Information:
Memo to staff: Adam Mosseri says Instagram's creator surveys show the app lags behind TikTok and YouTube on the most important creator satisfaction dimensions  —  For the past couple of years, as Instagram has sought to better compete with TikTok, becoming more appealing to creators has been a top priority.
Charles Hutzler / Wall Street Journal:
Biden issues an executive order directing CFIUS to increase scrutiny of deals that give China and others access to critical tech or US citizens' personal data  —  A new executive order directs the panel screening foreign investment, Cfius, to look at deals in areas U.S. officials say are of interest to China

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