Techmeme
May 10, 2022, 10:00 PM

Top News

Brian Heater / TechCrunch:
Apple discontinues the iPod touch, leaving the device on sale “while supplies last” and ending the product line after debuting the original iPod in October 2001  —  Last October marked 20 years of the iPod.  It's a remarkable run in the cutthroat, always-iterating world of consumer electronics.
Paul Kiernan / Wall Street Journal:
US Treasury Secretary Janet Yellen: passing legislation in 2022 to create a stablecoin regulatory framework “would be highly appropriate”, after UST's stumble  —  Treasury secretary expresses hope that Congress will pass legislation this year to create regulatory framework for stablecoins
Stacy-Marie Ishmael / Bloomberg:
A look at Do Kwon's algorithmic stablecoin UST, designed to trade at $1 but which fell as low as $0.60; CoinMarketCap says there is 17.8B UST in circulation  —  Algorithmic stablecoins, like their more “traditional” counterparts, are supposed to provide calm in the chaos of crypto.
Michael D McDonald / Bloomberg:
Dave Lee / @daveleeft:
[Thread] In an interview, Musk says Twitter has a “left bias”, he would “literally put” its “algorithm on GitHub”, and he thinks he would reverse Trump's ban  —  Twitter currently the “least bad” public square, @elonmusk says at #FTCar. “In order to be better at that it needs to get rid of the bots, the scams.” Live here: https://www.youtube.com/...
New York Times:
Sources: Netflix executives told employees that the company plans to launch its lower-priced ad-supported tier and crack down on password sharing in Q4 2022  —  Executives said they were aiming to introduce an ad-supported, lower-priced subscription tier in the last three months of the year, quicker than originally indicated.
James Pearson / Reuters:
The UK and the EU say Russia launched a cyberattack that disrupted Viasat's satellite internet network in February; the US says multiple networks were attacked  —  Russia was behind a massive cyberattack against a satellite internet network which took thousands of modems offline at the onset …
New York Times:
Interviews with 50+ people detail the rapid rise of Bolt, which overstated its tech and numbers, as its valuation soared from $250M in 2018 to $11B in 2021  —  The start-up has had a meteoric rise, thanks to its charismatic co-founder, Ryan Breslow.  But he sometimes stretched the truth to get there.
MacKenzie Sigalos / CNBC:
Coinbase Q1: $1.2B net revenue, down from $1.6B YoY, vs $1.5B est., 9.2M MTUs, up from 6.1M YoY, $309B trading volume, down from $335B YoY; stock down ~16%  —  - Coinbase reported first-quarter earnings after the bell on Tuesday.  — The earnings come amid a major sell-off across the crypto market.
Corin Faife / The Verge:
Bloomberg:
Laurence Fletcher / Financial Times:
Analysis: Tiger Global has lost about $17B during 2022's tech stock sell-off, erasing in four months around two-thirds of its gains made since its 2001 launch  —  Hedge fund suffers ‘breathtaking’ drop as speculative stocks sink from pandemic peaks  —  Tiger Global has been hit by losses …
Rest of World:
A look at Meta's and Google's subsea cable investments in Africa, the least connected continent, as the companies seek the terrestrial links to a billion users  —  One sunny Thursday morning in September 2021, three men gathered at the Multimedia University of Kenya, in Nairobi, for a small ceremony.
Mary Ann Azevedo / TechCrunch:
Online wholesale marketplace Faire raises a $416M extension, more than doubling the size of its Series G round and boosting its post-money valuation to $12.59B  —  Faire, which has built a marketplace connecting retailers to indie brands globally, has raised a $416 million extension …
Eli Tan / CoinDesk:
Co:Create, which helps NFT collections launch their own tokens, raises a $25M seed led by a16z, in the wake of ApeCoin's successful token-tied NFT approach  —  Non-fungible token (NFT) startup Co:Create has raised a $25 million seed round to help NFT collections launch their own tokens …
Paul Alcorn / Tom's Hardware:
Intel unveils Alder Lake HX laptop chips coming in 2022, featuring up to 16 cores, 5.0 GHz peak clock rates, and a 55W base power draw that can stretch to 157W  —  Up to 16 cores, 5.0 GHz, and 157W of peak power draw  —  Intel is bulking up its family of Alder Lake mobile CPUs …
Steve Dent / Engadget:
Sony reports Q4 gaming revenue rose 0.76% YoY to ~$5.1B; PS5 sales of 2M, down from 3.3M QoQ, hitting 19.3M total, ~3.1M below the PS4 at the same point in time  —  Sony announced that it sold just 2 million PlayStation 5 units last quarter (Q4), bringing its overall total to 19.3 million.
Sam Reynolds / CoinDesk:
Binance resumes withdrawals of LUNA and UST tokens after suspending them for about six hours due to a high volume of pending withdrawals and “network slowness”  —  Binance has resumed withdrawals of LUNA and UST tokens after the two tokens crashed on Tuesday on the back of a broader fall in the crypto markets.

Sponsor Posts

TELUS Digital:
The brand supporting the biggest brands in tech  —  Deliver memorable experiences throughout the customer journey with customer experience support from TELUS Digital.  Scale quickly, automate efficiently and win decisively.
Intel:
Intel Delivers powerful CPUs for AI and Networking  —  With the onset of AI, businesses demand powerful and efficient CPUs.  Explore new Intel Xeon 6 processors, for the broadest set of workloads with leadership performance and lower TCO.
Zoho:
8 must-have assets in every recruiter's work folder  —  Car mechanics can teach us an important lesson.  They always carry a handy toolbox with everything they need to troubleshoot common auto problems.
IDrive:
Protecting your Cloud Applications Data  —  Backing up Office 365, Google Workspace, Dropbox & Box data is critical to preventing data loss or corruption, complying with laws and avoiding critical downtime in case of a disaster.

Featured Podcasts

Techmeme Ride Home:
A Look At LibGen
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe to Techmeme Ride Home.
Hard Fork:
A.I. Action Plans + The College Student Who Broke Job Interviews + Hot Mess Express
The future is already here. Each week, journalists Kevin Roose and Casey Newton explore and make sense of the latest in the rapidly changing world of tech.
Subscribe to Hard Fork.
The Logan Bartlett Show:
Eric Yuan (CEO, Zoom): What Zoom's AI Strategy Can Teach Every Operator
A podcast hosted by Logan Bartlett, an investor at Redpoint Ventures, covering tech with industry insiders.
Subscribe to The Logan Bartlett Show.
BG2 Pod:
NVDA GTC, M&A Wiz / Goog $32 B Deal, April 2 Tariff Uncertainty; Huawei Belt & Road; ChatGPT
Open-source podcast on all things tech, markets, investing, and capitalism, hosted by Brad Gerstner and Bill Gurley.
Subscribe to BG2 Pod.
Decoder with Nilay Patel:
How the Tesla brand turned so toxic
A show from the Verge about big ideas - and other problems.
Subscribe to Decoder with Nilay Patel.
Channels with Peter Kafka:
Inside PJ Vogt's low budget, super successful podcast
Media and tech aren't just intersecting - they're fully intertwined. To understand how those worlds work, Peter Kafka talks to industry leaders, upstarts and observers.
Subscribe to Channels with Peter Kafka.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 10:00 PM ET, May 10, 2022.

The most current version of the site as always is available at our home page. To view an earlier snapshot click here and then modify the date indicated.

More News

Earlier Picks