January 6, 2023, 8:15 AM

Top News

Wall Street Journal:
Sources: Genesis Global laid off 30% of its staff, after a 20% cut in 2022, leaving the crypto lender with 145 workers, and is considering filing for bankruptcy  —  Firm suffered steep losses from loans it supplied to Alameda, Three Arrows  —  Massive crypto lender Genesis Global Trading Inc. laid off 30% …
Kate Clark / The Information:
Memo: Genesis parent company DCG shut down its wealth management subsidiary HQ Digital on January 2; filing: HQ had $3.5B+ under management as of December 2022  —  Digital Currency Group, the parent company of crypto broker Genesis and the publication CoinDesk, has shut down its wealth …
Wall Street Journal:
Sources: OpenAI is in talks to raise $300M+ from Thrive and Founders Fund in a tender offer, valuing the company at ~$29B, up from $14B in its 2021 tender offer  —  Tender offer at that valuation would make OpenAI one of the most valuable U.S. startups  —  Cheating With ChatGPT: Can an AI Chatbot Pass AP Lit?
Ana Paula Pereira / Cointelegraph:
Three Arrows Capital liquidators subpoena founders Zhu Su and Kyle Davies, who have resisted cooperation, via Twitter, seeking documents on the fund's collapse  —  3AC founders Zhu Su and Kyle Davies have been ordered to provide all documents in their possession or control …
Mitchell Clark / The Verge:
Qualcomm unveils Snapdragon Satellite, which lets phones with a Gen 2 SoC and an X70 modem text off the grid via Iridium's satellite network, coming in H2 2023  —  Android phones will soon be getting a feature similar to — and perhaps even more powerful than — Apple's Emergency SOS via satellite.
Geoffrey A. Fowler / Washington Post:
Twitter verified a Washington Post columnist's fake US Senator Ed Markey account, after Elon Musk said “all verified accounts will be manually authenticated”  —  Elon Musk said Twitter would begin authenticating users who pay $8 for Blue.  Our tech columnist was still able to get a checkmark for an impostor Sen. Ed Markey.
Samsung estimates that its Q4 operating profit fell by 69% YoY to ~$3.37B, an eight-year low, citing a greater-than-expected decline in memory chip demand  —  - Samsung Electronics flagged on Friday its quarterly profit tumbled to an eight-year low as a weakening global economy hammered memory chip prices …
Eric Slivka / MacRumors:
Kuo: due to development issues, Apple is “more likely” to debut its mixed-reality headset in the spring or at WWDC than in January as previously predicted  —  Analyst Ming-Chi Kuo said in a tweet thread today that ongoing delays with development of Apple's mixed-reality headset …
Stephen Totilo / Axios:
Microsoft files a revised rebuttal to the FTC's lawsuit to block its Activision Blizzard deal, removing its claim that the FTC's structure is unconstitutional  —  Microsoft says it made a mistake last month when it claimed that the very structure of Federal Trade Commission …
Erin Woo / The Information:
Source: Twitter laid off ~40 ad optimization data scientists and engineers, as the company targets areas that leadership considers to be failing or unimportant  —  Twitter laid off about 40 data scientists and engineers working on advertising late Wednesday night in what amounted to at least …
Jules Roscoe / VICE:
The FTC proposes a rule banning non-compete clauses, saying the contracts harm healthy competition in the labor and product markets and block entrepreneurship  —  The agency stated that noncompete clauses are bad for both the labor market and innovation.  The proposed rule would make them illegal.
Antonio G. Di Benedetto / The Verge:
Lenovo unveils the Yoga Book 9i, a laptop with two 13.3" OLED displays, available in June 2023 for $2,100+ with a 13th Gen Intel Core i7-U15 and 16GB of RAM  —  Dual monitor setups are great and all, but how about dual screens in a strangely tall laptop?  Lenovo is here to answer that …

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