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March 4, 2023, 12:30 AM
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| Erin Woo / The Information: |
Sources: last month, Amazon threatened to withhold payments for advertising it runs on Twitter, as the social network refused to pay its AWS bills for months — Elon Musk is running into an obstacle in his relentless drive to cut costs at Twitter: some of the same vendors that Twitter …
Mastodon: @darnell@one.darnell.one. Tweets: @amir, @carnage4life, @shaig, @tlakomy, @fordm, and @quinnypig
| Wall Street Journal: |
Sources: in an update to investors, Twitter reports a 40% YoY decline in both revenue and adjusted earnings for December 2022, as advertisers fled the company — The company recently made a first interest payment to banks that lent $13 billion to help pay for Elon Musk's buyout, people familiar with the matter said| Matt Day / Bloomberg: |
Amazon pauses second phase of construction of its HQ2 in Virginia as it reassesses office needs following its deepest-ever job cuts; phase one nears completion — Amazon.com Inc. is pausing construction on its sprawling second headquarters near Washington, a decision that coincides …
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| Wall Street Journal: |
Internal docs detail efforts by Tether Holdings and Bitfinex to maintain access to the global banking system by using shadowy intermediaries and shell companies — Tether Holdings and related crypto broker obscured identities, documents show — In late 2018, the companies behind …
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CoinDesk, CryptoSlate, PYMNTS.com, CoinGape, and Decrypt
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| Axios: |
Sources: Founders Fund cut Fund VIII, which is expected to start deploying capital in Q2 2023, from ~$1.8B to ~$900M; the money will be pushed to its ninth fund — Founders Fund has quietly cut the size of its eighth venture capital fund in half, from around $1.8 billion to around $900 million, Axios has learned from multiple sources.
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| Erik Schatzker / Bloomberg: |
Coinbase acquires One River, a crypto asset management startup that serves only institutional clients, like pension funds; One River was valued at $186M in 2021 — Coinbase Global Inc., still reeling from a plunge in trading volume on its exchanges, is expanding into a less-volatile corner …
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Tweets: @longconvexity, @kylesgibson, @johnedeaton1, @jeffjohnroberts, and @muyaoshen
| Bloomberg: |
Sources: Stable Diffusion creator Stability AI seeks to raise money at around a $4B valuation after raising a $101M seed at a ~$1B valuation in October 2022 — With artificial intelligence booming, one key player in the fast-growing space is talking to investors about raising more money … | Mitchell Clark / The Verge: |
One month after Elon Musk said Twitter started sharing ad revenue from reply threads with users who pay for Twitter Blue, Twitter has yet to provide any details — “Starting today, Twitter will share ad revenue with creators for ads that appear in their reply threads,” he said …
Mastodon: @jeremyburge@mastodon.world and @Waterloo@mastodon.lol
| Annie Palmer / CNBC: |
Amazon plans to close eight Go convenience stores in Seattle, NYC, and San Francisco, as the company reevaluates its brick-and-mortar strategy and cuts costs — - Amazon is closing eight Go convenience stores in Seattle, New York City and San Francisco. — The company had previously announced …
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GeekWire, Bloomberg, Neowin, American Banker, The Information, Seattle Business Journal, and Gizmodo
Tweets: @rakeshlobster, @tomgara, and @harrymccracken
| Forbes: |
Ryan Breslow sues Mark Phillips, a convicted fraudster he hired to build his social impact DAO, accusing him of stealing ~$10.5M of the project's seed funding — Billionaire tech founder Ryan Breslow is locked in a legal battle over the alleged theft of millions of dollars belonging to a nascent crypto project, Movement DAO.
Tweets: @evacide, @yoda, @sarahnemerson, and @hkanji
| Jennifer Pattison Tuohy / The Verge: |
Ring says new users of Ring Alarm will have to pay for a Ring Protect plan costing $3.99+ per month to access existing free features, starting March 29 — Yet another company will charge its customers more money for using existing features as the subscription-based smart home becomes the norm.
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SlashGear, Digital Trends, HotHardware, Engadget, The Ambient, and TechRadar
| Financial Times: |
Sources: Character.AI, a chatbot that generates chats in the style of famous people like Shakespeare, raised $200M-$250M led by a16z at a ~$1B valuation — Pioneering tech venture capital firm makes first big foray into generative artificial intelligence sector
Tweets: @georgenhammond
| Josh Eidelson / Bloomberg: |
An NLRB director rules that Google is a “joint employer” with YouTube subcontractor Cognizant and must bargain with Cognizant workers if they vote to unionize — Alphabet Inc.'s Google is legally the boss of YouTube contract staff and must collectively bargain with the workers … | CoinDesk: |
Silvergate says it's discontinuing the Silvergate Exchange Network, an instant settlement service that its clients could use to move money to crypto exchanges — Crypto bank warned this week about its ability to remain in business. — Silvergate Bank, which warned this week about its ability … Sponsor Posts
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