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May 7, 2020, 2:05 AM
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New York Times:
Facebook's Oversight Board announces its first 20 members, out of a total of 40, who will oversee challenging content issues  —  The company's independent oversight body will focus on challenging content issues, such as hate speech and harassment.  —  The authors are co-chairs of Facebook's oversight board.
David Kaye / Just Security:
Facebook's efforts are laudable, but the Oversight Board does not end debates over online speech or legitimize content moderation choices by other platforms
Brady Dale / CoinDesk:
Square reports $528M in Q1 revenues from its Cash App, with $306M coming from Bitcoin transactions, exceeding the app's fiat revenue of $222M for the first time  —  Bitcoin has flippened USD on Square's Cash App, sort of.  —  As reported in the publicly traded fintech company's …
Emily Bary / MarketWatch:
Square reports Q1 revenue of $1.38B, up 44% YoY, with net loss of $106M, up $68M YoY, as Square fills reserves to prepare for COVID-19 problems; stock down 6%+  —  Payments processor falls to an adjusted loss as it prepares for merchants' transaction and loan losses with reserves  —  Referenced Symbols
Kurt Wagner / Bloomberg:
The Libra Association names former US Treasury Department official Stuart Levey as its first CEO ahead of a renewed regulatory push  —  The Libra Association, the group behind the proposed digital currency invented by Facebook Inc., named former U.S. Treasury Department official Stuart Levey as its first chief executive officer.
Nick Statt / The Verge:
Epic Games says Fortnite has 350M registered players, up from 250M in March 2019; in April, players logged 3.2B hours in the game  —  More than 3.2 billion hours played in April alone  —  Epic's Fortnite has more than 350 million registered players, the game developer announced on Wednesday.
Jordan Novet / CNBC:
Twilio beat Q1 estimates with revenue of $364.9M, up 57% YoY, and reports over 190K active customer accounts; stock is up about 25% after hours  —  - Twilio beat expectations on results and its guidance for the current quarter.  — The company withdrew full-year guidance.  —  Jeff Lawson
Abner Li / 9to5Google:
Google says Android 11 Beta 1 is being pushed back to June 3, about a month behind schedule, but the final release is still on track for Q3  —  Back in February, Google laid out plans for three Android 11 developer previews and betas.  The company delivered the first half on that schedule amid COVID-19 …
Lora Kolodny / CNBC:
Lyft reports Q1 revenue of $955.7M, up 23% YoY, as its net loss drops to $398.1M from $1.1B in 2019; active riders rose 3% YoY to 21.2M; stock up 10%+  —  - On Wednesday, Lyft reported losses of $398.1 million, and revenue of $955.7 million for Q1 2020.  — Citing Covid-19 impacts to its business …
Devindra Hardawar / Engadget:
Microsoft debuts 13.5-inch and 15-inch Surface Book 3 laptops with 10th-gen quad-core Intel CPUs, new NVIDIA GPUs, available May 21 from $1,600 and $2,300  —  With the Surface Book 2, Microsoft proved it could take on the MacBook Pro directly with a powerful and genuinely innovative PC notebook.
Microsoft Devices Blog:
Microsoft announces $250 Surface Headphones 2 with better sound and battery, arriving on May 12, and says its Surface Buds will ship on the same day for $200
Tom Warren / The Verge:
Microsoft unveils Surface Go 2 with a bigger 10.5-inch display and more powerful Intel processors in higher-end models, coming May 12, starting at $400
Emily Bary / MarketWatch:
PayPal misses Q1 estimates with revenue of $4.62B, up 13% YoY, and net income of $84M, down from $667M YoY; says May 1 was its largest transaction day ever  —  Referenced Symbols  —  PayPal Holdings Inc. fell short of first-quarter expectations Wednesday as the company felt the impact …
Ashley Carman / The Verge:
Source: Spotify is testing video podcasts in its app, starting with two YouTube stars  —  The test is coming to half of Zane Hijazi and Heath Hussar's audience  —  Spotify is now testing video podcasts in its app, starting with two YouTube stars: Zane Hijazi and Heath Hussar, hosts of Zane and Heath: Unfiltered.
Matthew Panzarino / TechCrunch:
Interview with Apple SVP Craig Federighi about the iPadOS cursor, a significant change to the pointer paradigm, and the decisions Apple made to get there  —  Apple SVP Craig Federighi talks about the iPad's new cursor and Magic Keyboard  —  Even though Apple did not invent the mouse pointer …
Natasha Lomas / TechCrunch:
European Data Protection Board publishes updated guidelines arguing that scrolling and “cookie walls”, which block users from content, don't constitute consent  —  You can't make access to your website's content dependant on a visitor agreeing that you can process their data — aka a ‘consent cookie wall’.
Kyle Wiggers / VentureBeat:
GigaSpaces, which develops in-memory data analytics software, raises $12M led by Fortissimo Capital, bringing its total raised to $53M  —  GigaSpaces, a startup developing in-memory computing solutions for AI and machine learning workloads, today announced it raised $12 million.
More: Globes Online and MrWeb
Lucas Shaw / Bloomberg:
Internal document reveals Twitch is looking to fund a slate of original, unscripted series that would be live and interactive on dating, sports, music, and more  —  - Amazon unit will bankroll slate of unscripted series this year  — Use of Twitch has exploded during the coronavirus pandemic
Andy Greenberg / Wired:
Security researchers say India's contact tracing app, mandated for many workers and downloaded over 90M times, could leak patient GPS data  —  The system's use of GPS data could let hackers pinpoint who reports a positive diagnosis.  —  As countries around the world rush to build smartphone apps …
Mary Ann Azevedo / Crunchbase News:
Report: VC funding in Latin America more than doubled YoY to a record $4.6B in 2019 across 440 deals, compared to ~$2B invested in 2018 across 463 deals  —  I've been tracking venture funding in Latin America since 2017.  Overall, it has not only been increasing-it has exploded.

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From Mediagazer

Joshua Benton / Nieman Lab:
Around 75% of the largest US newspapers aren't endorsing anyone for president this year, as publishers try not to annoy any sliver of their remaining customers

William Earl / Variety:
Heretic's directors say they put a message in the credits that “no generative AI was used in the making of this film” to warn Hollywood about the danger of AI

Mandy Dalugdug / Music Business Worldwide:
UMG, ABKCO, and Concord sue Believe and its subsidiary TuneCore for $500M+, alleging Believe built its business via “industrial-scale copyright infringement”

More News

Charles Fishman / The Atlantic:
How internet infrastructure, like that from AT&T, has managed to cope during the lockdown, as people stream media and work remotely
Ashley Carman / The Verge:
Match says Tinder will launch in-app one-on-one video chats later this year, as growth falls during the pandemic, although most details are TBA

Earlier Picks

Ellen Hammett / Marketing Week:
Study: half of the money brands invest in programmatic advertising never reaches online publishers; 15% of the money is unattributable to supply chain players
Erin Griffith / New York Times:
With gyms closed, sales of the $2,245 Peloton connected smart bike have surged; Peloton's stock has risen 86% since mid-March, valuing the company at $10B
Lauren Feiner / CNBC:
Uber says it will lay off 3,700 employees, or ~14% of its workforce, as it has been hit hard by the pandemic; CEO Dara Khosrowshahi will forgo his base salary
Bloomberg:
Instacart added 300K shoppers in eight weeks to adapt to the pandemic and says it has had its first-ever monthly profit in April of $10M
Janko Roettgers / Protocol:
Sources: Google to release a Fire TV-like Android TV dongle with a new content-centric UI in the coming months, likely extending its Nest brand to the product
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