Techmeme
May 12, 2022, 4:20 PM

Top News

Joanna Ossinger / Bloomberg:
After UST's collapse, most rival algorithmic stablecoins are below their dollar peg; the biggest non-algorithmic stablecoins USDT and USDC are mostly holding  —  Stablecoins besides TerraUSD are failing to live up to their billing as the collapse of the algorithmic token has investors pondering …
Tim Copeland / The Block:
Terraform Labs resumes Terra block production, with staking disabled, after halting the blockchain “to prevent governance attacks” following LUNA's collapse  —  Quick Take  — Terraform Labs has said the Terra blockchain has been halted.  — This is due to concerns …
Financial Times:
Tether CTO Paolo Ardoino declines to reveal details about the company's $40B US government bond holdings, for fear of revealing its “secret sauce”  —  Token's tech chief declines to provide details on Treasury holdings on fear of revealing ‘secret sauce’
Shaurya Malwa / CoinDesk:
Terra's LUNA drops to $0.01, a 99%+ decline in 24 hours, down from $60 earlier this week and $120 in mid-April, after Terra's UST stablecoin lost its dollar peg  —  LUNA tokens lost 96% in the past 24 hours alone, prompting more to be minted in a mechanism that helped lift the UST price.
@kayvz:
[Thread] Twitter product chief Kayvon Beykpour says he is leaving at the request of CEO Parag Agrawal, who wants to “take the team in a different direction”  —  Interrupting my paternity leave to share some final @twitter-related news: I'm leaving the company after over 7 years.
Bloomberg:
In a memo, Twitter CEO Parag Agrawal announces a hiring freeze and other cost-cutting efforts; VP of product Jay Sullivan will take over as head of product  —  Twitter Inc. Chief Executive Officer Parag Agrawal announced a hiring freeze and other cost-cutting efforts on Thursday …
Ryan Browne / CNBC:
David Yaffe-Bellany / New York Times:
Jay Peters / The Verge:
After mocking Apple for removing the iPhone's headphone jack in an August 2021 ad for the Pixel 5a, Google quietly drops the headphone jack with the Pixel 6a  —  The Pixel 6A offers a lot of good features, but not a headphone jack  —  Google just revealed the Pixel 6A at Google I/O on Wednesday …
Scott Stein / CNET:
Mark Zuckerberg demoes mixed reality on Meta's Project Cambria headset; Meta will enable MR app development for Quest 2 and Cambria via its Presence Platform  —  A demo of Meta Cambria demonstrates how it blends AR and VR, while Quest 2 headsets could be used to develop apps in the meantime.
Lucas Matney / TechCrunch:
Ex-Facebook crypto chief David Marcus launches Lightspark, a payments startup that is building on Bitcoin's Lightning network, backed by a16z, Paradigm, others  —  After his departure from Facebook in November, many crypto industry insiders speculated where long-time executive David Marcus would land.
Financial Times:
Thomas Stackpole / HBR.org:
A Q&A with crypto skeptic Molly White, who runs Web3 Is Going Just Great, on Web3's problems, cultural draw, privacy and potential harassment issues, and more  —  Welcome to Web3  —  What Is Web3?  —  Why Blockchain's Ethical Stakes Are So High Web3 Will Run on Cryptocurrency What a DAO Can — and Can't — Do
Lauren Kaori Gurley / VICE:
Leaked memo: Apple is sending anti-union talking points to US retail store leaders, including that workers could lose “flexibility” and merit-based promotions  —  Apple is instructing managers to tell retail workers that they could lose benefits and career opportunities if they unionize.
Adi Robertson / The Verge:
A US appeals court rules 2-1 to let Texas enforce a social media law stopping Twitter, Facebook, and other services with 50M+ users from moderating content  —  A judge blocked a similar law in Florida on First Amendment grounds  —  The controversial Texas social media law HB 20 …
Reuters:
Foxconn reports Q1 net profit rose 5% YoY to ~$985M but warns that Q2 revenue could slow due to rising inflation, cooling demand, and supply chain issues  —  Shovel and FoxConn logo are seen before the arrival of U.S. President Donald Trump for the Foxconn Technology Group groundbreaking ceremony …

Sponsor Posts

Meta:
Open Source AI: Available to all, not just the few  —  Meta's open source AI enables small businesses, start-ups, students, researchers and more to download and build with our models at no cost.
Tribe AI:
Build AI products that matter  —  Tribe AI helps organizations rapidly deploy AI solutions that have real business impact.  We bring together world class AI talent and tooling to drive differentiated results.
Zoho:
CIO challenge 5: Can we find an effective solution that also minimizes operational costs?  —  Welcome to the next and final installment of our CIO series!  After what feels like a thousand cups of coffee …
Hamming:
Make AI Voice Agents trustworthy  —  Hamming AI automatically tests AI voice agents and continuously monitors them in production.
Techmeme Ride Home:
Thu. 11/21 - What The DOJ Wants Google To Do
The day's tech news, every day at 5pm ET. Fifteen minutes and you're up to date.
Subscribe via Apple Podcasts, Spotify, or RSS.
 

About This Page

This is a Techmeme archive page. It shows how the site appeared at 4:20 PM ET, May 12, 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

Sam Nussey / Reuters:
Aaron Gordon / VICE: