Techmeme
May 19, 2023, 7:45 PM

Top News

Lia Haberman / ICYMI:
Meta briefed some creators on Instagram's decentralized text-based app that may launch in June 2023 with a Twitter-like design, Mastodon compatibility, and more  —  Meta's hosting secret meetings with select creators to share details  —  [a sneak peek at Instagram's new text-based app]
Jiyoung Sohn / Wall Street Journal:
Sources: Samsung suspends an internal review into replacing Google with Bing as its mobile devices' default search engine, citing business relations with Google  —  Samsung Electronics suspends internal review that contemplated changing its smartphones' default search engine from Google to Microsoft's Bing
Financial Times:
Sources: top shareholder SoftBank demanded compensation from Revolut after UK regulators told the startup to simplify its ownership to obtain a banking license  —  Minister to meet payment group's bosses amid fears UK's biggest tech group will leave the country
Chance Miller / 9to5Mac:
Apple shares its first App Store Transparency Report, listing app rejections, government requests, and more, as part of a settlement in a 2021 developer lawsuit  —  Earlier this week, Apple shared an in-depth look at how the App Store helped prevent fraud and protect developers and customers alike.
Jon Fingas / Engadget:
Hyundai agrees to settle with ~9M US Hyundai and Kia owners for $200M, after hundreds of car thefts inspired by the viral “Kia Challenge” on TikTok in mid-2022  —  Most of the money from the settlement will go toward compensating theft victims.  —  Hyundai is putting …
Wall Street Journal:
Sources: Apple restricts the internal use of ChatGPT, GitHub Copilot, and other external AI tools due to concerns about potential leaks of confidential data  —  The iPhone maker is concerned workers could release confidential data as it develops its own similar technology
Financial Times:
Cory Weinberg / The Information:
Source: Instacart generated ~$740M in 2022 ad revenue, up 30% YoY; nearly 30% of the company's 2022 revenue came from its ads unit, which launched in 2019  —  Instacart has become an advertising powerhouse.  —  The grocery-delivery firm's ad revenue totaled about $740 million last year …
Alex Konrad / Forbes:
Jeff Jordan, a16z's fifth general partner who joined in 2011, steps back from active investments but will continue to work on his portfolio and board positions  —  Longtime Andreessen Horowitz venture capitalist Jeff Jordan is stepping back from active investments.

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