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February 24, 2024, 8:00 PM
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| 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.
More: Fast Company, Observer, Mercury News, Silicon Republic, and City A.M.
Threads: @trevorcroker, @barbarosozturk, @aeromunch, and @mike_isaac. Mastodon: @dangillmor@mastodon.social
X: @sdw, @levie, @jonahlupton, @eshear, @eshear, @carnage4life, @eshear, @therealdavey2, and @eshear. Forums: r/technology
| 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.
More: Digital Information World, Ars Technica, Gizmodo, Wired, Inc.com, TechCrunch, Tubefilter, Business Insider, Proactive, and Mashable
| Paresh Dave / Wired: |
In Reddit's S-1, Steve Huffman offers a look at the site's beginnings without naming co-founder Alexis Ohanian, reflecting their schism during the BLM protests — Only one of Reddit's two cofounders is named in a new filing that puts the company weeks away from going public.| 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 …
More: Wall Street Journal, Cointelegraph, CoinJournal, and CoinGape
X: @jdan, @kateclarktweets, @ivanlevingston, and @aosipovich
| Financial Times: |
How tensions between past and present leaders of Sequoia, which had a reputation for quiet competence, have spilled into the open with the Klarna boardroom spat — Tension between past and present leaders of Silicon Valley's premier venture group have spilled into the open| 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.”
X: @crbustamante, @katie_robertson, @nbj914, @pressgazette, @baekdal, @anndesbiondi, @davidsirota, @sapna, @michaelluongo, @gpa_as, and @mediaevan. LinkedIn: Lewis Wiltshire
| Lauren Feiner / The Verge: |
The US FTC claims in an administrative complaint that H&R Block steered customers to higher-cost online tax filing products and made them difficult to downgrade — The Federal Trade Commission is taking action against tax prep company H&R Block for allegedly wasting consumers' time and money.| The Information: |
Sources: some US lawmakers are pushing for an import ban on goods sold on Temu, saying the company hasn't done enough to stop suppliers from using forced labor — A number of U.S. lawmakers are pushing for a ban on imports of goods sold on Temu, the fast-growing shopping site known … | Counterpoint Research: |
Global cumulative shipments of 5G smartphones crossed 2B in less than five years, a faster adoption rate than 3G or 4G; Apple and Samsung together shipped 1B — - Nearly 70% of all 5G shipments came from developed smartphone markets. — Apple and Samsung were the top 5G smartphone brands …
More: AppleInsider, Patently Apple, and Sammy Fans
| 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 …
Threads: @joe_rosenthal, @fabiobracht, and @wongmjane. Bluesky: @martye.bsky.social
X: @robblackwellab and @nicholasadeleon
Forums: r/truespotify and r/technology
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