Techmeme
February 24, 2024, 11:30 PM

Top News

Elizabeth Lopatto / The Verge:
Many redditors say they are not enthusiastic 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.
David Jeans / Forbes:
In a letter to Elon Musk, Rep. Mike Gallagher says SpaceX may be in breach of DOD contracts after sources say Starshield is inactive around Taiwan for US troops  —  Rep. Mike Gallagher, who led a delegation to Taiwan this week, said in a letter to Musk that SpaceX could possibly be in breach of its …
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 …
Mary Ann Azevedo / TechCrunch:
PermitFlow, which develops end-to-end workflow and automation software for construction permitting, raised a $31M Series A led by Kleiner Perkins  —  Kleiner Perkins led the Series A, which came just over a year after seed round  —  Anyone who has ever tried to build or renovate a house knows …
Milana Vinn / Reuters:
Sources: Broadcom is nearing a $3.8B deal to sell its end-user computing unit to private equity firm KKR  —  Chipmaker Broadcom (AVGO.O) is nearing a $3.8 billion deal to sell its business that allows users to access desktops and applications from any device to private equity firm KKR (KKR.N) …
More: Bloomberg
Jordan Novet / CNBC:
Filing: Google said Microsoft offered to sell Bing to Apple in 2018, but Eddy Cue said Microsoft had search quality issues and was investing less than Google  —  - In 2018, Microsoft offered to sell Apple its Bing search engine or start a Bing joint venture, Google said in a newly unsealed filing.
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.”

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More News

Yasemin Craggs Mersinoglu / Financial Times:
Chris Welch / The Verge:

Earlier Picks

Reuters:
Amanda Silberling / TechCrunch:
Filipe Espósito / 9to5Mac:
Bloomberg:
Theodore Schleifer / Puck:
Abner Li / 9to5Google: