Techmeme
February 24, 2024, 4:25 PM

Top News

Elizabeth Lopatto / The Verge:
Many redditors say they are not enthused about Reddit's IPO and expect CEO Steve Huffman to run the site into the ground while trying to make it profitable  —  There's the mention of r/WallStreetBets.  (Five mentions in total, actually.)  There's the stockpile it's amassed of Bitcoin and Ethereum.
Dave Lee / Bloomberg:
Reddit's S-1 shows how dependent the site is on the unpaid labor of 60K active daily moderators and the whims of its users and subreddits like r/WallStreetBets  —  The company's IPO prospectus makes clear how dependent it is on unpaid labor and the whims of its community.
Dietrich Knauth / Reuters:
FTX agrees to sell FTX Europe back to its founders for $32.7M, drops a lawsuit seeking back $323M it had spent to acquire the startup originally called DA AG  —  Bankrupt crypto exchange FTX has settled a lawsuit that sought to claw back $323 million that it had spent acquiring a European startup …
Abner Li / 9to5Google:
Google says poor image tuning and Gemini becoming more cautious than intended made the model “overcompensate in some cases, and be over-conservative in others”  —  Google announced yesterday that it disabled image generation of people in Gemini following criticism about its historical accuracy.
New York Times:
How some news accounts on Instagram, including Mo News and Jessica Yellin, are gaining popularity even as the platform tries de-emphasizing political content  —  In this year's presidential election, more people are turning to Instagram for news, even as the platform tries de-emphasizing “political content.”
Filipe Espósito / 9to5Mac:
X starts rolling out audio and video calling to all users, after previously limiting the feature to Premium subscribers; users can disable calling in settings  —  The social platform X introduced a new feature last year that lets users make and receive audio and video calls, just like apps such as FaceTime and WhatsApp.
Chris Welch / The Verge:
Three years after Spotify's original announcement that it would launch a higher-quality audio subscription, the company has yet to roll out the feature  —  I was really hoping I wouldn't have to do this again.  Last year, it seemed like there was no reason to believe Spotify would ever roll …
Bloomberg:
Sources: Jeff Bezos is investing $100M, Microsoft is investing $95M, and Nvidia $50M in humanoid robot startup Figure's ~$675M funding round at a ~$2B valuation  —  - Figure AI also gets investments from Intel, Samsung and Amazon  — Company, valued at roughly $2 billion, is raising $675 million

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More News

Yasemin Craggs Mersinoglu / Financial Times:
Reuters:

Earlier Picks

Amanda Silberling / TechCrunch:
Theodore Schleifer / Puck:
Ivan Mehta / TechCrunch:
Sabrina Ortiz / ZDNet:
Wall Street Journal: